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TheStreet Open House

Supplement To Earnings News Release - 4Q13

Stocks in this article: MRK

A reconciliation of GAAP to non-GAAP net income and EPS is provided in the tables that follow.

       
$ in millions, except EPS amounts Fourth Quarter   Year Ended
    Dec. 31,   Dec. 31,
2013   2012   2013   2012
EPS                
GAAP EPS   $0.26   $0.30   $1.47   $2.00

Difference 3

  0.62   0.53   2.02   1.82

Non-GAAP EPS that excludes items listed below 1

  $0.88   $0.83   $3.49   $3.82
 
Net Income                
GAAP net income 2   $781   $908   $4,404   $6,168
Difference   1,818   1,632   6,039   5,575
Non-GAAP net income that excludes items listed below 1,2   $2,599   $2,540   $10,443   $11,743
 
Decrease (Increase) in Net Income Due to Excluded Items:                

Acquisition-related costs 4.

  $1,348   $1,298   $5,549   $5,344
Restructuring costs   962   254   2,401   999

Other 5

    493   (13)   493
Net decrease (increase) in income before taxes   2,310   2,045   7,937   6,836

Income tax (benefit) expense 6

  (492)   (413)   (1,898)   (1,261)
Decrease (increase) in net income   $1,818   $1,632   $6,039   $5,575

“In 2013 we took decisive action to sharpen our focus, reduce our cost structure and advance our innovative research and development,” said Kenneth C. Frazier, chairman and chief executive officer, Merck. “This year we are excited about the potential of our near- and long-term pipeline, poised for long-term growth and committed to providing continued value to patients, customers and our shareholders.”

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