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This excerpt taken from the LLY 10-K filed Feb 22, 2010. Note 9: Other
Assets and Other Liabilities
Our other receivables include receivables from our collaboration
partners, tax receivables, interest receivable for our interest
rate swaps, and a variety of other items. The decrease in other
receivables is
62
primarily attributable to a decrease in receivables from our
collaboration partners and a decrease in tax receivables, offset
by an increase in interest rate swap receivables.
Our prepaid expenses include prepaid income taxes and other
global prepaid expenses. The increase in prepaid expenses is
primarily attributable to income taxes paid on prepaid
intercompany royalties.
Our sundry assets primarily include our capitalized computer
software, deferred tax assets (Note 12), receivables from
our collaboration partners, and the fair value of our interest
rate swaps. The decrease in sundry assets is primarily
attributable to a decrease in deferred tax assets and a decrease
in the fair value of our interest rate swaps.
Our other current liabilities include product litigation, tax
liabilities, deferred income from our collaboration
arrangements, and a variety of other items. The decrease in
other current liabilities is caused primarily by a decrease in
product litigation liabilities, specifically, the
$1.42 billion related to the EDPA settlements which was
paid in 2009 as discussed in Note 14, and a decrease in
current deferred taxes.
Our other noncurrent liabilities include deferred income from
our collaboration and out-licensing arrangements, the long-term
portion of our estimated product return liabilities, product
litigation, and a variety of other items. The decrease in other
noncurrent liabilities is primarily due to a decrease in
deferred income and a decrease in product litigation reserves.
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