Item 6. Selected Financial Data

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Item 6. Selected Financial Data

BIOGEN IDEC INC. AND SUBSIDIARIES

SELECTED FINANCIAL DATA



	For the Years Ended December 31,
	2014			2013			2012			2011			2010
(In millions, except per share amounts)				(2) (4)						(2) (3)			(1)
Results of Operations
Product revenues	$	8,203.4		$	5,542.3		$	4,166.1		$	3,836.1		$	3,470.1
Revenues from unconsolidated joint business	1,195.4			1,126.0			1,137.9			996.6			1,077.2
Other revenues	304.5			263.9			212.5			215.9			169.1
Total revenues	9,703.3			6,932.2			5,516.5			5,048.6			4,716.4
Total cost and expenses	5,747.7			4,441.6			3,707.4			3,323.9			3,467.5
Gain on sale of rights	16.8			24.9			46.8			—			—
Income from operations	3,972.4			2,515.5			1,855.9			1,724.7			1,248.9
Other income (expense), net	(25.8		)	(34.9		)	(0.7		)	(13.5		)	(19.0		)
Income before income tax expense and equity in loss of investee, net of tax	3,946.6			2,480.6			1,855.1			1,711.2			1,229.9
Income tax expense	989.9			601.0			470.6			444.5			331.3
Equity in loss of investee, net of tax	15.1			17.2			4.5			—			—
Net income	2,941.5			1,862.3			1,380.0			1,266.7			898.6
Net income (loss) attributable to noncontrolling interests, net of tax	6.8			—			—			32.3			(106.7		)
Net income attributable to Biogen Idec Inc.	$	2,934.8		$	1,862.3		$	1,380.0		$	1,234.4		$	1,005.2
Diluted Earnings Per Share
Diluted earnings per share attributable to Biogen Idec Inc.	$	12.37		$	7.81		$	5.76		$	5.04		$	3.94
Weighted-average shares used in calculating diluted earnings per share attributable to Biogen Idec Inc.	237.2			238.3			239.7			245.0			254.9
Financial Condition
Cash, cash equivalents and marketable securities	$	3,316.0		$	1,848.5		$	3,742.4		$	3,107.4		$	1,950.8
Total assets	$	14,316.6		$	11,863.3		$	10,130.1		$	9,049.6		$	8,092.5
Notes payable, line of credit and other financing arrangements, less current portion	$	582.1		$	592.4		$	687.4		$	1,060.8		$	1,066.4
Total Biogen Idec Inc. shareholders’ equity	$	10,809.0		$	8,620.2		$	6,961.5		$	6,425.5		$	5,396.5

In addition to the following notes, the financial data included within the tables above should be read in conjunction with our consolidated financial statements and related notes and the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of this report and our previously filed Form 10-Ks.


(1)	Included in total cost and expenses are charges to acquired in-process research and development (IPR&D) totaling $245.0 million. Of this amount, $205.0 million was incurred in connection with the license agreement entered into with Knopp Neurosciences Inc. (Knopp), which we consolidated as we determined that we were the primary beneficiary of the entity. The $205.0 million charge was partially offset by an attribution of $145.0 million to the noncontrolling interest. We also incurred a charge of $40.0 million in connection with our acquisition of Biogen Idec Hemophilia Inc. (BIH), formerly Syntonix, related to the initiation of patient enrollment in a registrational trial of ALPROLIX.

(1)

Included in total cost and expenses are charges to acquired in-process research and development (IPR&D) totaling $245.0 million. Of this amount, $205.0 million was incurred in connection with the license agreement entered into with Knopp Neurosciences Inc. (Knopp), which we consolidated as we determined that we were the primary beneficiary of the entity. The $205.0 million charge was partially offset by an attribution of $145.0 million to the noncontrolling interest. We also incurred a charge of $40.0 million in connection with our acquisition of Biogen Idec Hemophilia Inc. (BIH), formerly Syntonix, related to the initiation of patient enrollment in a registrational trial of ALPROLIX.


(2)	Our share of revenues from unconsolidated joint business reflects charges of $50.0 million in 2011 and $49.7 million in 2013 for damages and interest awarded to Hoechst in Genentech's arbitration with Hoechst for RITUXAN.


(3)	Biogen Idec Inc.’s shareholders’ equity reflects a reduction in additional paid in capital and noncontrolling interests totaling $187.3 million resulting from our purchase of the noncontrolling interest in our joint venture investments in Biogen Dompé SRL and Biogen Dompé Switzerland GmbH.


(4)	Commencing in the second quarter of 2013, product and total revenues include 100% of net revenues related to sales of TYSABRI as a result of our acquisition of all remaining rights to TYSABRI from Elan and net revenues related to sales of TECFIDERA. In addition, upon the closing of our acquisition of all remaining rights to TYSABRI, our collaboration agreement was terminated, and we no longer record collaboration profit sharing.

(4)

Commencing in the second quarter of 2013, product and total revenues include 100% of net revenues related to sales of TYSABRI as a result of our acquisition of all remaining rights to TYSABRI from Elan and net revenues related to sales of TECFIDERA. In addition, upon the closing of our acquisition of all remaining rights to TYSABRI, our collaboration agreement was terminated, and we no longer record collaboration profit sharing.

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