beatandraise : SEC Filings Research with AI

beatandraise.com

2.2.0.25falsefalse10501 - Disclosure - Asset Impairments, Restructuring, and Other Special Chargestruefalsefalse1falsefalseUSDfalsefalse1/1/2010 - 12/31/2010 USD ($) USD ($) / shares $Duration_1_1_2010_To_12_31_2010http://www.sec.gov/CIK0000059478duration2010-01-01T00:00:002010-12-31T00:00:00Unit12Standardhttp://www.xbrl.org/2003/iso4217USDiso42170Unit15Dividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli0Unit1Standardhttp://www.xbrl.org/2003/instancesharesxbrli0Unit14Standardhttp://www.xbrl.org/2003/instancepurexbrli0USDUSD$2true0lly_AssetImpairmentsRestructuringAndOtherSpecialChargesAbstractllyfalsenadurationAsset Impairments, Restructuring, and Other Special Charges [Abstract]falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringAsset Impairments, Restructuring, and Other Special Charges [Abstract]falsefalseAsset Impairments, Restructuring, And Other Special Charges [Abstract]3false0us-gaap_UnusualOrInfrequentItemsDisclosureTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div> <div> <div> Note 5:  Asset Impairments, Restructuring, and Other Special Charges   The components of the charges included in asset impairments, restructuring, and other special charges in our consolidated statements of operations are described below.   <table class="MsoNormalTable" style="font-size: 11pt; font-family: 'Calibri','sans-serif'; border-collapse: collapse;" cellspacing="0" cellpadding="0" width="631" border="0"> <tr><td style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3.95in; padding-top: 0in;" valign="top" width="379">  </td> <td style="border-right: medium none; padding-right: 5.4pt; border-top: medium none; padding-left: 5.4pt; padding-bottom: 0in; border-left: medium none; width: 63pt; padding-top: 0in; border-bottom: windowtext 1pt solid;" valign="top" width="84"> 2010</td> <td style="border-right: medium none; padding-right: 5.4pt; border-top: medium none; padding-left: 5.4pt; padding-bottom: 0in; border-left: medium none; width: 63pt; padding-top: 0in; border-bottom: windowtext 1pt solid;" valign="top" width="84"> 2009</td> <td style="border-right: medium none; padding-right: 5.4pt; border-top: medium none; padding-left: 5.4pt; padding-bottom: 0in; border-left: medium none; width: 63pt; padding-top: 0in; border-bottom: windowtext 1pt solid;" valign="top" width="84"> 2008</td></tr> <tr><td style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3.95in; padding-top: 0in;" valign="top" width="379">  </td> <td style="border-right: medium none; padding-right: 5.4pt; border-top: medium none; padding-left: 5.4pt; padding-bottom: 0in; border-left: medium none; width: 189pt; padding-top: 0in; border-bottom: medium none;" valign="top" width="252" colspan="3">  </td></tr> <tr><td style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3.95in; padding-top: 0in;" valign="top" width="379">    Severance </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84"> $142.0</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84"> $   99.0</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84"> $   134.0</td></tr> <tr><td style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3.95in; padding-top: 0in;" valign="top" width="379">    Asset impairments and other special charges </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84"> 50.0</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84"> 363.7</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84"> 363.0</td></tr> <tr><td style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3.95in; padding-top: 0in;" valign="top" width="379">    Product liability and other special charges – legal settlement </td> <td style="border-right: medium none; padding-right: 5.4pt; border-top: medium none; padding-left: 5.4pt; padding-bottom: 0in; border-left: medium none; width: 63pt; padding-top: 0in; border-bottom: windowtext 1pt solid;" valign="top" width="84"> 0.0</td> <td style="border-right: medium none; padding-right: 5.4pt; border-top: medium none; padding-left: 5.4pt; padding-bottom: 0in; border-left: medium none; width: 63pt; padding-top: 0in; border-bottom: windowtext 1pt solid;" valign="top" width="84"> 230.0</td> <td style="border-right: medium none; padding-right: 5.4pt; border-top: medium none; padding-left: 5.4pt; padding-bottom: 0in; border-left: medium none; width: 63pt; padding-top: 0in; border-bottom: windowtext 1pt solid;" valign="top" width="84"> 1,477.0</td></tr> <tr><td style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3.95in; padding-top: 0in;" valign="top" width="379">      Asset impairments, restructuring, and other special charges </td> <td style="border-right: medium none; padding-right: 5.4pt; border-top: medium none; padding-left: 5.4pt; padding-bottom: 0in; border-left: medium none; width: 63pt; padding-top: 0in; border-bottom: windowtext 1.5pt solid;" valign="top" width="84">   $192.0</td> <td style="border-right: medium none; padding-right: 5.4pt; border-top: medium none; padding-left: 5.4pt; padding-bottom: 0in; border-left: medium none; width: 63pt; padding-top: 0in; border-bottom: windowtext 1.5pt solid;" valign="top" width="84">   $692.7</td> <td style="border-right: medium none; padding-right: 5.4pt; border-top: medium none; padding-left: 5.4pt; padding-bottom: 0in; border-left: medium none; width: 63pt; padding-top: 0in; border-bottom: windowtext 1.5pt solid;" valign="top" width="84">   $1,974.0</td></tr></table>   Severance   Severance costs listed above, substantially all of which have been paid, are primarily the result of the 2009 initiative to reorganize global operations, streamline various functions of the business, and reduce total employees, as well as other previously announced strategic actions to reduce our cost structure and global workforce. Included in the 2009 severance charges is $61.1 million related to the sale of our Tippecanoe Laboratories manufacturing site which is further described below. We anticipate additional charges in 2011 relating to these previously announced initiatives and strategic decisions.   Asset Impairments and Other Special Charges   In 2010, we incurred $50.0 million of asset impairments and other special charges primarily consisting of lease termination costs and asset impairments outside the United States.   In 2009, we recognized non-cash asset impairments and other special charges of $363.7 million primarily due to the sale of our Tippecanoe Laboratories manufacturing site to an affiliate of Evonik Industries AG (Evonik) in early 2010. In connection with the sale of the site, we entered into a nine-year supply and services agreement, whereby Evonik will manufacture final and intermediate step API for certain of our human and animal health products. The decision to sell the site was based upon a projected decline in utilization of the site due to several factors, including upcoming patent expirations on certain medicines made at the site; our strategic decision to purchase, rather than manufacture, many late-stage chemical intermediates; and the evolution of our pipeline toward more biotechnology medicines. The fair value of assets used in determining impairment charges was based on contracted sales prices.   In 2008, we recognized non-cash asset impairments and other special charges of $363.0 million primarily due to the termination of development of our AIR Insulin program and the sale of our Greenfield, Indiana site to Covance Inc.   Product Liability and Other Special Charges   In 2009, we incurred other special charges of $230.0 million related to advanced discussions with the attorneys general for several states that were not part of the Eastern District of Pennsylvania settlement, seeking to resolve their Zyprexa-related claims.  The charges represent the then-current probable and estimable exposures in connection with the states' claims.  Refer to Note 15 for additional information.  As discussed further in Note 15, in the third quarter of 2008, we recorded a charge of $1.48 billion related to the Zyprexa investigations led by the U.S. Attorney for the Eastern District of Pennsylvania, as well as the resolution of a multi-state investigation regarding Zyprexa involving 32 states and the District of Columbia. </div></div> </div>Note 5:  Asset Impairments, Restructuring, and Other Special Charges   The components of the charges included in asset impairments, restructuring,falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringAny additional information related to the determination or classification of material events or transactions that are abnormal or significantly different from typical activities or are not reasonably expect to recur in the foreseeable future; but not both, and therefore does not meet both criteria for classification as an extraordinary item. This element may be used as a single block of text to encapsulate the entire disclosure including data and tables.No authoritative reference available.falsefalseAsset Impairments, Restructuring, And Other Special Charges [Text Block]12Asset Impairments, Restructuring, and Other Special ChargesUnKnownUnKnownUnKnownUnKnownfalsetrue