Send us Feedback

Elan Corporation (ELN)
Analysis
SUMMARY
BULLS
BEARS
TOPICS
Data
DATA CENTRAL
STOCK CHART
Financials
SEC FILINGS
BALANCE
INCOME
CASH FLOW

ELN » Topics » Elan Corporation, plc Schedule II Valuation and Qualifying Accounts and Reserves Years ended December 31, 2006, 2005 and 2004

This excerpt taken from the ELN 20-F filed Feb 28, 2007.
Elan Corporation, plc

Schedule II
Valuation and Qualifying Accounts and Reserves
Years ended December 31, 2006, 2005 and 2004
 
                                         
    Balance at
 		                         
    Beginning
 		                      Balance at
 		 
Description
  of Year     Additions(1)     Deductions(2)     Divestments(3)     End of Year  
    (In millions)  
 
Allowance for doubtful accounts:
                                       
Years ended December 31, 2006
  $ 3.9     $ 0.7     $ (3.9 )     —     $ 0.7  
Years ended December 31, 2005
  $ 5.5     $ 0.3     $ (1.9 )     —     $ 3.9  
Years ended December 31, 2004
  $ 11.6     $ 1.7     $ (7.8 )     —     $ 5.5  
Sales returns and allowances, discounts, chargebacks and rebates(4):
                                       
Years ended December 31, 2006
  $ 17.2     $ 43.9     $ (44.6 )     —     $ 16.5  
Years ended December 31, 2005
  $ 22.1     $ 56.2     $ (60.3 )     (0.8 )   $ 17.2  
Years ended December 31, 2004
  $ 65.2     $ 52.2     $ (81.9 )     (13.4 )   $ 22.1  
 
 
(1) Additions to allowance for doubtful accounts are recorded as an expense.
 
(2) Represents amounts written off or returned against the allowance or reserves, or returned against earnings. Deductions to sales discounts and allowances relate to sales returns and payments.
 
(3) Since the beginning of 2003 we have divested a number of businesses, including principally our primary care franchise, Zonegran and our European sales and marketing business. The divestment adjustments arise primarily as a result of the negotiated terms of these divestments. For example, we have entered into terms that would either extend or limit our liability for discounts and allowances related to the divested businesses. We have accordingly adjusted our discounts and allowances accruals to reflect the terms of the agreements. Divestment adjustments also include post-divestment revisions resulting from the availability of additional information. Divestment adjustments are recorded as part of the gain/(loss) on sale of businesses, and not as an increase or decrease from gross revenue.
 
(4) Additions to sales discounts and allowances are recorded as a reduction of revenue.


151

Table of Contents

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki