azn201211126k1.htm
 
 
FORM 6-K
 
 
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
 
Report of Foreign Issuer
 
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934

For the month of November 2012

 
Commission File Number: 001-11960

 
AstraZeneca PLC
 
 
2 Kingdom Street, London W2 6BD
 
 
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F X      Form 40-F __
 
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ______           
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ______
 
 
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
 
 
Yes __     No X
 
 
If “Yes” is marked, indicate below the file number assigned to the Registrant in connection with Rule 12g3-2(b): 82-_____________
 
 

 
 
 
 

 

 

 
AstraZeneca PLC
 
DEFINITION OF CORE FINANCIAL MEASURES
 
London, 12 November 2012
 
Definition of Core Financial Measures will change with effect from Q1 2013
 
As previously announced, with effect from first quarter results 2013, AstraZeneca PLC will update its definition of Core financial measures to exclude all intangible asset amortisation charges and impairments, except those for IS-related intangibles. As intangibles acquired as a result of externalisation become an increasing proportion of the Group's asset base, the new definition has been extended to provide better clarity of the impact from amortisation and impairment charges included in Reported results and, in addition, while recognising that non-GAAP measures differ between companies, it will aid comparability of our results versus our peers.
 
The items excluded from Core results under the previous definition as disclosed in detail on page 84 of our Annual Report and Form 20-F Information 2011 remain a constituent part of the new definition. These excluded certain significant items, such as charges and provisions related to our global restructuring programmes, amortisation and impairment of the significant intangibles relating to our acquisition of MedImmune Inc. in 2007 and our exit arrangements with Merck in the US, and other specified items.
 
Detailed, un-audited reconciliations between the current Reported basis, the previously disclosed Core basis and the newly defined Core basis for the full-year 2011, first nine months of 2012 and each of the quarters to Q3 2012 are set out below. These are presented as the full reconciliation back to Reported performance, as management believe a full understanding of the performance is best obtained by reviewing both Reported and Core performance. Reported performance remains a key metric for management in reviewing the performance of the Group.
 
Adjustments between reported and core performance
 
Amortisation and impairments of intangible assets. The definition of this item has been updated to include all amortisation and impairment charges for intangible assets excluding IS-related assets. Adjusting for these items removes the volatility when impairments are booked on such assets and is intended to provide a better measure of underlying business performance. It has been extended to cover all amortisation and impairments relating to product marketing and distribution rights and other intangibles, incorporating those already excluded under the current definition relating to our acquisition of MedImmune Inc. and our exit arrangements with Merck. The amortisation and impairment of IS-related intangibles are not included in the adjustment, and will remain in core.
 
Restructuring costs.  The definition for this item has not been changed. These charges arise from the major restructuring programmes as separately announced by the Group, and will include the remainder of the third phase of restructuring announced in February 2012.
 
Legal charges and other charges.  The definition for this item has not been changed. Legal payments, charges and expenses related to settlements, judgments and fines in the context of product liability litigation, anti-trust litigation, patent litigation and government investigations will be excluded from the Core measures and the adjustment will be stated net of related insurance recoveries.  In the ordinary course, external legal professional fees, including those relating to intellectual property protection costs, and the costs of AstraZeneca's in-house legal function will remain in Core. Professional fees directly attributable to AstraZeneca's significant acquisitions and other significant business combination activity will continue be excluded from Core. Other specified items deemed not to be in the ordinary course of business will continue to be excluded from Core.
 
Tax on adjustments.  The definition for this item has not been changed. The Group's Reported effective tax rate, adjusted for significant one-off items embedded within that rate, is applied to all taxable Core adjustments. This approach is unchanged.
 
NOTES TO EDITORS
 
 
This announcement shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
 
About AstraZeneca
 
 
AstraZeneca is a global, innovation-driven biopharmaceutical business with a primary focus on the discovery, development and commercialization of prescription medicines for gastrointestinal, cardiovascular, neuroscience, respiratory and inflammation, oncology and infectious disease. AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. For more information please visit: www.astrazeneca.com.
 
CONTACT INFORMATION
 
 
Media Enquiries
 
 
Esra Erkal-Paler                    +44 20 7604 8030
 
Investor Enquiries UK
 
 
James Ward-Lilley                 +44 20 7604 8122                  mob: +44 7785 432613
Karl Hård                                 +44 20 7604 8123                  mob: +44 7789 654364
Nicklas Westerholm              +44 20 7604 8124                  mob: +44 7585 404950
 
Investor Enquiries US
 
 
Ed Seage                                +1 302 886 4065                       mob: +1 302 373 1361
 
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
 
 
In order, among other things, to utilise the 'safe harbour' provisions of the US Private Securities Litigation Reform Act 1995, we are providing the following cautionary statement: The interim financial statements contain certain forward-looking statements with respect to the operations, performance and financial condition of the Group. Although we believe our expectations are based on reasonable assumptions, any forward-looking statements, by their very nature, involve risks and uncertainties and may be influenced by factors that could cause actual outcomes and results to be materially different from those predicted. The forward-looking statements reflect knowledge and information available at the date of preparation of the interim financial statements and AstraZeneca undertakes no obligation to update these forward-looking statements. We identify the forward-looking statements by using the words 'anticipates', 'believes', 'expects', 'intends' and similar expressions in such statements. Important factors that could cause actual results to differ materially from those contained in forward-looking statements, certain of which are beyond our control, include, among other things: the loss or expiration of patents, marketing exclusivity or trademarks, or the risk of failure to obtain patent protection; the risk of substantial adverse litigation/government investigation claims and insufficient insurance coverage; exchange rate fluctuations; the risk that R&D will not yield new products that achieve commercial success; the risk that strategic alliances and acquisitions will be unsuccessful; the impact of competition, price controls and price reductions; taxation risks; the risk of substantial product liability claims; the impact of any failure by third parties to supply materials or services; the risk of failure to manage a crisis; the risk of delay to new product launches; the difficulties of obtaining and maintaining regulatory approvals for products; the risk of failure to observe ongoing regulatory oversight; the risk that new products do not perform as we expect; the risk of environmental liabilities; the risks associated with conducting business in emerging markets; the risk of reputational damage; the risk of product counterfeiting; the risk of failure to successfully implement planned cost reduction measures through productivity initiatives and restructuring programmes; the risk that regulatory approval processes for biosimilars could have an adverse effect on future commercial prospects; and the impact of increasing implementation and enforcement of more stringent anti-bribery and anti-corruption legislation.
 

 
Reconciliations of Reported through previous Core to Revised Core
 
Nine Months to September 2012
 
All financial figures, except earnings per share, are in $ millions.  Weighted average shares in millions.
 
 
Reported
2012
Restructuring
Merck &
MedImmune
Amortisation
Intangible
Impairments
Legal
Provisions
& Other
Core
2012
Actual
%
CER
%
Amortisation
Impairments
Revised Core 2012
Actual
%
CER
%
Revenue
20,691 
- 
- 
-
- 
20,691 
(17)
(15)
- 
- 
20,691 
(17)
(15)
Cost of Sales
(3,995)
75 
- 
-
- 
(3,920)
    
198 
- 
(3,722)
    
Gross Profit
16,696 
75 
- 
-
- 
16,771 
(18)
(16)
198 
- 
16,969 
(18)
(15)
% sales
80.7%
        
81.1%
-1.3
-1.2
    
82.0%
-0.7
-0.7
Distribution
(241)
- 
- 
-
- 
(241)
(8)
(4)
- 
- 
(241)
(8)
(4)
% sales
1.2%
        
1.2%
-0.2
-0.1
    
1.2%
-0.2
-0.1
R&D
(3,923)
697 
- 
-
- 
(3,226)
(3)
(2)
18 
147 
(3,061)
(6)
(4)
% sales
19.0%
        
15.6%
-2.2
-2.1
    
14.8%
-1.7
-1.6
SG&A
(7,170)
388 
384 
-
127 
(6,271)
(15)
(13)
86 
- 
(6,185)
(15)
(13)
% sales
34.6%
        
30.3%
-0.7
-0.7
    
29.9%
-0.5
-0.5
Other Income
822 
- 
43 
-
- 
865 
41 
44 
17 
- 
882 
44 
47
% sales
4.0%
        
4.2%
+1.8
+1.7
    
4.3%
+1.8
+1.7
Operating Profit
6,184 
1,160 
427*
-
127**
7,898 
(22)
(20)
319 
147 
8,364 
(20)
(17)
% sales
29.9%
        
38.2%
-2.6
-2.4
    
40.4%
-1.3
-1.2
Net Finance Expense
(320)
- 
- 
-
- 
(320)
    
- 
- 
(320)
    
Profit before Tax
5,864 
1,160 
427 
-
127 
7,578 
(23)
(21)
319 
147 
8,044 
(20)
(18)
Taxation
(1,071)
(259)
(61)*
-
(28)
(1,419)
    
(52)
(33)
(1,504)
    
Profit after Tax
4,793 
901 
366 
-
99 
6,159 
(21)
(19)
267
114 
6,540 
(19)
(16)
Non-controlling Interests
(17)
- 
- 
-
- 
(17)
    
- 
- 
(17)
    
Net Profit
4,776 
901 
366 
-
99 
6,142 
(21)
(19)
267 
114 
6,523 
(19)
(16)
Weighted Average Shares
1,266 
1,266 
1,266 
1,266
1,266 
1,266 
    
1,266 
1,266 
1,266 
    
Earnings per Share
3.77 
0.71 
0.29 
-
0.08 
4.85 
(14)
(11)
0.21 
0.09 
5.15 
(12)
(9)
 
*
Of the $427 million amortisation adjustment, $272 million is related to MedImmune, with a corresponding tax adjustment of $61 million; Merck related amortisation was $155 million, which carries no tax adjustment. 
**
Includes $61 million of acquisition related expenses.
 
Third Quarter 2012
 
All financial figures, except earnings per share, are in $ millions.  Weighted average shares in millions.
 
 
Reported
2012
Restructuring
Merck &
MedImmune
Amortisation
Intangible
Impairments
Legal
Provisions
& Other
Core
2012
Actual
%
CER
%
Amortisation
Impairments
Revised Core 2012
Actual
%
CER
%
Revenue
6,682 
- 
- 
-
- 
6,682 
(19)
(15)
- 
- 
6,682 
(19)
(15)
Cost of Sales
(1,274)
14 
- 
-
- 
(1,260)
    
130 
- 
(1,130)
    
Gross Profit
5,408 
14 
- 
-
- 
5,422 
(18)
(15)
130 
- 
5,552 
(16)
(13)
% sales
80.9%
        
81.1%
+0.7
-0.1
    
83.1%
+2.2 
+1.3 
Distribution
(90)
- 
- 
-
- 
(90)
(3)
2
- 
- 
(90)
(3)
2 
% sales
1.3%
        
1.3%
-0.2
-0.2
    
1.3%
-0.2 
-0.2 
R&D
(1,204)
116 
- 
-
- 
(1,088)
(5)
(3)
6 
89 
(993)
(12)
(9)
% sales
18.0%
        
16.3%
-2.3
-1.9
    
14.9%
-1.1 
-0.8 
SG&A
(2,359)
123 
151 
-
57 
(2,028)
(15)
(12)
50 
- 
(1,978)
(17)
(13)
% sales
35.3%
        
30.3%
-1.2
-1.0
    
29.6%
-0.7 
-0.5 
Other Income
401 
- 
15 
-
- 
416 
99
103
17 
- 
433 
107 
111 
% sales
6.0%
        
6.2%
+3.7
+3.5
    
6.5%
+3.9 
+3.7 
Operating Profit
2,156 
253 
166*
-
57
2,632 
(17)
(14)
203 
89 
2,924 
(10)
(7)
% sales
32.3%
        
39.4%
+0.7
+0.3
    
43.8%
+4.1 
+3.5 
Net Finance Expense
(108)
- 
- 
-
- 
(108)
    
- 
- 
(108)
    
Profit before Tax
2,048 
253 
166 
-
57 
2,524 
(18)
(15)
203 
89 
2,816 
(11)
(8)
Taxation
(515)
(70)
(23)*
-
(24)**
(632)
    
(42)
(21)
(695)
    
Profit after Tax
1,533 
183 
143 
-
33 
1,892 
(18)
(15)
161 
68 
2,121 
(11)
(7)
Non-controlling Interests
(8)
- 
-
-
- 
(8)
    
- 
- 
(8)
    
Net Profit
1,525 
183 
143 
-
33 
1,884 
(18)
(15)
161 
68 
2,113 
(11)
(7)
Weighted Average Shares
1,250 
1,250 
1,250 
1,250
1,250 
1,250 
    
1,250 
1,250 
1,250 
    
Earnings per Share
1.22 
0.15 
0.11 
-
0.03 
1.51 
(12)
(8)
0.13 
0.05 
1.69 
(3)
- 
 
*
Of the $166 million amortisation adjustment, $91 million is related to MedImmune, with a corresponding tax adjustment of $23 million; Merck related amortisation was $75 million, which carries no tax adjustment.
**
 Includes $11 million tax adjustment on the $50 million acquisition related expenses incurred in the second quarter.
 
 
 
 
Second Quarter 2012
 
All financial figures, except earnings per share, are in $ millions.  Weighted average shares in millions.
 
 
Reported
2012
Restructuring
Merck &
MedImmune
Amortisation
Intangible
Impairments
Legal
Provisions
& Other
Core
2012
Actual
%
CER
%
Amortisation
Impairments
Revised Core 2012
Actual
%
CER
%
Revenue
6,660 
- 
- 
- 
- 
6,660 
(21)
(18)
- 
- 
6,660 
(21)
(18)
Cost of Sales
(1,346)
6 
- 
- 
- 
(1,340)
    
34 
- 
(1,306)
    
Gross Profit
5,314 
6 
- 
- 
- 
5,320 
(24)
(20)
34 
- 
5,354 
(23)
(20)
% sales
79.8%
        
79.9%
-2.8 
-1.9 
    
80.4%
-2.6 
-1.7 
Distribution
(75)
- 
- 
- 
- 
(75)
(15)
(10)
- 
- 
(75)
(15)
(10)
% sales
1.1%
        
1.1%
-0.1 
-0.1 
    
1.1%
-0.1 
-0.1 
R&D
(1,189)
136 
- 
- 
- 
(1,053)
(6)
(4)
6 
6 
(1,041)
(5)
(3)
% sales
17.9%
        
15.8%
-2.5 
-2.4 
    
15.6%
-2.6 
-2.4 
SG&A
(2,350)
63 
116 
- 
66 
(2,105)
(20)
(18)
19 
- 
(2,086)
(20)
(17)
% sales
35.3%
        
31.6%
-0.4 
-0.4 
    
31.3%
-0.4 
-0.4 
Other Income
168 
- 
14 
- 
- 
182 
(3)
- 
- 
- 
182 
(3)
- 
% sales
2.5%
        
2.7%
+0.5 
+0.5 
    
2.7%
+0.5 
+0.5 
Operating Profit
1,868 
205 
130*
- 
66**
2,269 
(32)
(27)
59 
6 
2,334 
(31)
(27)
% sales
28.0%
        
34.1%
-5.3 
-4.3 
    
35.1%
-5.2 
-4.1 
Net Finance Expense
(105)
- 
- 
- 
- 
 
(105)
    
 
- 
 
- 
 
(105)
    
Profit before Tax
1,763 
205 
130 
- 
66 
2,164 
(33)
(28)
59 
6 
2,229 
(32)
(28)
Taxation
(145)
(48)
(20)*
- 
(3)
(216)
    
(4)
(2)
(222)
    
Profit after Tax
1,618 
157 
110 
- 
63 
1,948 
(19)
(14)
55 
4 
2,007 
(18)
(13)
Non-controlling Interests
(7)
- 
- 
- 
- 
 
(7)
    
 
- 
 
- 
 
(7)
    
Net Profit
1,611 
157 
110 
- 
63 
1,941 
(19)
(14)
55 
4 
2,000 
(18)
(13)
Weighted Average Shares
1,267 
1,267 
1,267 
1,267 
1,267 
 
1,267 
    
 
1,267 
 
1,267 
 
1,267 
    
Earnings per Share
1.27 
0.12 
0.09 
- 
0.05 
1.53 
(12)
(6)
0.04 
0.01 
1.58 
(11)
(6)
       
 
*
Of the $130 million amortisation adjustment, $91 million is related to MedImmune, with a corresponding tax adjustment of $20 million; Merck related amortisation was $39 million, which carries no tax adjustment.
  
 
**
Includes $50 million of acquisition related expenses which carry no tax adjustment.
  
                               
 
 
 
First Quarter 2012
 
All financial figures, except earnings per share, are in $ millions.  Weighted average shares in millions.
 
 
Reported
2012
Restructuring
Merck &
MedImmune
Amortisation
Intangible
Impairments
Legal
Provisions
& Other
Core
2012
Actual
%
CER
%
Amortisation
Impairments
Revised Core 2012
Actual
%
CER
%
Revenue
7,349 
- 
- 
-
- 
7,349 
(11)
(11)
- 
- 
7,349 
(11)
(11)
Cost of Sales
(1,375)
55 
- 
-
- 
(1,320)
    
34 
- 
(1,286)
    
Gross Profit
5,974 
55 
- 
-
- 
6,029 
(13)
(13)
34 
- 
6,063 
(13)
(13)
% sales
81.3%
        
82.0%
-2.0 
-1.9 
    
82.5%
-1.8
-1.7 
Distribution
(76)
- 
- 
-
- 
(76)
(5)
(3)
- 
- 
(76)
(5)
(3)
% sales
1.0%
        
1.0%
      -
-0.1 
    
1.0%
- 
-0.1 
R&D
(1,530)
445 
- 
-
- 
(1,085)
1 
2 
6 
52 
(1,027)
- 
- 
% sales
20.8%
        
14.7%
-1.8 
-1.9 
    
13.9%
-1.5 
-1.6 
SG&A
(2,461)
202 
117 
-
4 
(2,138)
(9)
(9)
17 
- 
(2,121)
(9)
(9)
% sales
33.5%
        
29.1%
-0.8 
-0.8 
    
28.9%
-0.7 
-0.8 
Other Income
253 
- 
14 
-
- 
267 
24 
25 
- 
- 
267 
24 
25 
% sales
3.4%
        
3.6%
+1.0 
+1.1 
    
3.6%
+1.0 
+1.1 
Operating Profit
2,160 
702 
131*
-
4 
2,997 
(19)
(18)
57 
52 
3,106 
(17)
(17)
% sales
29.4%
        
40.8%
-3.6 
-3.6 
    
42.3%
-3.0 
-3.1 
Net Finance Expense
(107)
- 
- 
-
- 
(107)
    
- 
- 
(107)
    
Profit before Tax
2,053 
702 
131 
-
4 
2,890 
(19)
(19)
57 
52 
2,999 
(18)
(18)
Taxation
(411)
(141)
(18)*
-
(1)
(571)
    
(6)
(10)
(587)
    
Profit after Tax
1,642 
561 
113 
-
3 
2,319 
(26)
(26)
51 
42 
2,412 
(24)
(24)
Non-controlling Interests
(2)
- 
- 
-
- 
(2)
    
- 
- 
(2)
    
Net Profit
1,640 
561 
113 
-
3 
2,317 
(26)
(26)
51 
42 
2,410 
(24)
(24)
Weighted Average Shares
1,281 
1,281 
1,281 
1,281
1,281 
 
1,281 
    
 
1,281 
 
1,281 
 
1,281 
    
Earnings per Share
1.28 
0.44 
0.09 
-
- 
1.81 
(19)
(19)
0.04 
0.03 
1.88 
(17)
(17)
 
*
Of the $131 million amortisation adjustment, $90 million is related to MedImmune, with a corresponding tax adjustment of $18 million; Merck related amortisation was $41 million, which carries no tax adjustment. 
 
 
 
 
 
Full Year 2011
 
All financial figures, except earnings per share, are in $ millions.  Weighted average shares in millions.
 
 
 
Reported
2011
Restructuring
Merck &
MedImmune
Amortisation
Intangible
Impairments
Legal
Provisions
& Other
Core
2011
Actual
%
CER
%
Amortisation
Impairments
Revised Core 2011
Actual
%
CER
%
Revenue
33,591 
- 
- 
- 
- 
33,591 
1 
(2)
-
-
33,591 
1 
(2)
Cost of Sales
(6,026)
54 
- 
- 
- 
(5,972)
    
129
-
(5,843)
    
Gross Profit
27,565 
54 
- 
- 
- 
27,619 
2 
- 
129
-
27,748 
2 
(1)
% sales
82.1%
        
82.2%
+1.0
+1.3
    
82.6%
+0.7
+1.0
Distribution
(346)
- 
- 
- 
- 
(346)
3 
(1)
-
-
(346)
3 
(1)
% sales
1.0%
        
1.0%
- 
- 
    
1.0%
- 
- 
R&D
(5,523)
468 
- 
22 
- 
(5,033)
19 
15 
27
527
(4,479)
10 
6 
% sales
16.5%
        
15.0%
-2.3
-2.2
    
13.3%
-1.1
-0.9
SG&A
(11,161)
639 
469 
- 
135 
(9,918)
1 
(2)
78
4
(9,836)
1 
(2)
% sales
33.2%
        
29.5%
-0.1
-0.1
    
29.3%
-0.1
-
Other Income
2,260 
- 
68 
- 
(1,483)**
845 
(7)
(8)
-
-
845 
(7)
(8)
% sales
6.7%
        
2.5%
-0.2
-0.2
    
2.5%
-0.2
-0.2
Operating Profit
12,795 
1,161 
537*
22 
(1,348)
13,167 
(3)
(4)
234
531
13,932 
(1)
(2)
% sales
38.1%
        
39.2%
-1.6
-1.2
    
41.5%
-0.7
-0.1
Net Finance Expense
(428)
- 
- 
- 
- 
(428)
    
-
-
(428)
    
Profit before Tax
12,367 
1,161 
537 
22 
(1,348)
12,739 
(3)
(4)
234
531
13,504 
-
(1)
Taxation
(2,351)
(306)
(98)
(6)
(36)
(2,797)
    
(28)
(140)
(2,965)
    
Profit after Tax
10,016 
855 
439 
16 
(1,384)
9,942 
3 
2 
206
391
10,539 
5
4 
Non-controlling Interests
(33)
- 
- 
- 
- 
(33)
    
 
-
 
-
(33)
    
Net Profit
9,983 
855 
439 
16 
(1,384)
9,909 
3 
2 
206
391
10,506 
5 
4 
Weighted Average Shares
1,361 
1,361 
1,361 
1,361
1,361 
1,361 
    
 
1,361
 
1,361
1,361 
    
Earnings per Share
7.33 
0.63 
0.32 
0.01 
(1.01)
7.28 
9 
7 
0.15
0.29
7.72 
11 
10 
       
 
*
Of the $537 million amortisation adjustment, $373 million is related to MedImmune, with a corresponding tax adjustment of $98 million; Merck related amortisation was $164 million, which carries no tax adjustment. 
 
  
 
**
Gain on the sale of Astra Tech was $1,483 million, and carries no tax adjustment.
  
                               
 
 
 
Fourth Quarter 2011
 
All financial figures, except earnings per share, are in $ millions.  Weighted average shares in millions.
 
 
Reported
2011
Restructuring
Merck & MedImmune Amortisation
Intangible Impairments
Legal Provisions & Other
Core
2011
Actual%
CER
%
Amortisation
Impairments
Revised Core 2011
Actual
%
CER
%
Revenue
8,656 
-  
- 
-
- 
8,656 
- 
- 
-
-
8,656 
- 
- 
Cost of Sales
(1,612)
36 
- 
-
- 
(1,576)
    
37
-
(1,539)
    
Gross Profit
7,044 
36 
- 
-
- 
7,080 
3 
1 
37
-
7,117 
3 
1 
% sales
81.4%
        
81.8%
+1.8
+0.9
    
82.2%
+1.9
+1.0
Distribution
(85)
-  
- 
-
- 
(85)
(2)
(1)
-
-
(85)
(2)
(1)
% sales
1.0%
        
1.0%
- 
- 
    
1.0%
- 
- 
R&D
(1,867)
175 
- 
-
- 
(1,692)
31 
31 
6
467
(1,219)
5
4
% sales
21.6%
        
19.5%
-4.5
-4.6
    
14.1%
-0.6
-0.6
SG&A
(3,141)
448 
117 
-
30 
(2,546)
(12)
(12)
14
4
(2,528)
(12)
(12)
% sales
36.3%
        
29.5%
+4.0
+3.9
    
29.2%
+4.0
+3.9
Other Income
216 
- 
17 
-
- 
233 
- 
- 
-
-
233 
- 
- 
% sales
2.5%
        
2.7%
- 
- 
    
2.7%
- 
- 
Operating Profit
2,167 
659 
134* 
-
30 
2,990 
4 
1 
57
471
3,518 
16
12
% sales
25.0%
        
34.5%
+1.3
+0.2
    
40.6%
+5.3
+4.3
Net Finance Expense
(115)
- 
- 
-
- 
(115)
    
-
-
(115)
    
Profit before Tax
2,052 
659 
134 
-
30 
2,875 
5 
1 
57
471
3,403 
17
13
Taxation
(559)
(174)
(25)
-
(8)
(766)
    
(5)
(124)
(895)
    
Profit after Tax
1,493 
485 
109 
-
22 
2,109 
7 
3 
52
347
2,508 
19
16
Non-controlling Interests
(7)
- 
- 
-
- 
(7)
    
-
-
(7)
    
Net Profit
1,486 
485 
109 
-
22 
2,102 
7 
4 
52
347
2,501 
20
16
Weighted Average Shares
1,312 
1,312 
1,312 
1,312
1,312 
1,312 
    
 
1,312
 
1,312
1,312 
    
Earnings per Share
1.16 
0.36 
0.08 
-
0.01 
1.61 
16 
12 
0.04
0.26
1.91 
29
25
 
*
Of the $134 million amortisation adjustment, $93 million is related to MedImmune, with a corresponding tax adjustment of $25 million; Merck related amortisation was $41 million, which carries no tax adjustment.   
 
 
 
 
Third Quarter 2011
 
All financial figures, except earnings per share, are in $ millions.  Weighted average shares in millions.
 
 
 
Reported
2011
Restructuring
Merck & MedImmune Amortisation
Intangible Impairments
Legal Provisions & Other
 
Core
2011
 
Actual
%
 
CER
%
Amortisation
Impairments
Revised Core 2011
Actual
%
CER
%
Revenue
8,213 
- 
-  
- 
-  
8,213 
4 
(2)
- 
- 
8,213 
4 
(2)
Cost of Sales
(1,593)
(14)
-  
- 
-  
(1,607)
    
42 
- 
(1,565)
    
Gross Profit
6,620 
(14)
-  
- 
-  
6,606 
3 
- 
42 
- 
6,648 
2 
(2)
% sales
80.6%
        
80.4%
-0.5 
+1.2 
    
80.9%
-1.9 
-0.2 
Distribution
(93)
- 
-  
- 
-  
(93)
13 
5 
- 
- 
(93)
14 
5 
% sales
1.1%
        
1.1%
-0.1 
-0.1 
    
1.1%
-0.1 
-0.1 
R&D
(1,296)
124 
-  
22 
-  
(1,150)
17 
10 
7 
14 
(1,129)
16 
9 
% sales
15.8%
        
14.0%
-1.5 
-1.5 
    
13.7%
-1.4 
-1.3 
SG&A
(2,644)
111 
117 
- 
21 
(2,395)
3 
(2)
22 
- 
(2,373)
3 
(2)
% sales
32.2%
        
29.1%
+0.2 
+0.2 
    
28.9%
+0.2 
+0.2 
Other Income
1,675 
- 
17 
- 
(1,483)**
209 
(6)
(5)
- 
- 
209 
(8)
(8)
% sales
20.4%
        
2.5%
-0.3 
-0.1 
    
2.5%
-0.3 
-0.2 
Operating Profit
4,262 
221 
134*
22 
(1,462)
3,177 
(2)
(2)
71 
14 
3,262 
(5)
(5)
% sales
51.9%
        
38.7%
-2.2 
-0.3 
    
39.7%
-3.5 
-1.6 
Net Finance Expense
(93)
- 
- 
- 
-  
(93)
    
- 
- 
(93)
    
Profit before Tax
4,169 
221 
134 
22 
(1,462)
3,084 
- 
(1)
71 
14 
3,169 
(3) 
(4)
Taxation
(684)
(58)
(23)*
(6)
(6)**
(777)
    
(8)
(4)
(789)
    
Profit after Tax
3,485 
163 
111 
16 
(1,468)
2,307 
7 
6 
63 
10 
2,380 
4 
3 
Non-controlling  Interests
(8)
- 
-  
- 
-  
(8)
    
- 
- 
(8)
    
Net Profit
3,477 
163 
111 
16 
(1,468)
2,299 
7 
6 
63 
10 
2,372 
3 
3 
Weighted Average Shares
1,354 
1,354 
1,354 
1,354 
1,354 
1,354 
    
1,354 
1,354 
1,354 
    
Earnings per Share
2.56 
0.12 
0.08 
0.01 
(1.06)
1.71 
14 
12 
0.05 
- 
1.76 
10 
9 
 
*
Of the $134 million amortisation adjustment, $93 million is related to MedImmune, with a corresponding tax adjustment of $23 million; Merck related amortisation was $41 million, which carries no tax adjustment.
 
**
Gain on the sale of Astra Tech was $1,483 million, and carries no tax adjustment.
 
 
 
 
Second Quarter 2011
 
All financial figures, except earnings per share, are in $ millions.  Weighted average shares in millions.
 
 
 
Reported
2011
Restructuring
Merck & MedImmune Amortisation
Intangible Impairments
Legal
Provisions
& Other
 
Core
2011
 
Actual
%
 
CER
%
Amortisation
Impairments
Revised Core 2011
Actual
%
CER
%
Revenue
8,430 
- 
-  
-
- 
8,430 
3 
(2)
- 
- 
8,430 
3 
(2)
Cost of Sales
(1,482)
20 
-  
-
- 
(1,462)
    
25 
- 
(1,437)
    
Gross Profit
6,948 
20 
-  
-
- 
6,968 
3 
(2)
25 
- 
6,993 
3 
(2)
% sales
82.4%
        
82.7%
-0.3 
+0.1 
    
82.9%
-0.3 
+0.2 
Distribution
(88)
- 
-  
-
- 
(88)
- 
(8)
- 
- 
(88)
- 
(8)
% sales
1.0%
        
1.0%
+0.1 
+0.1 
    
1.0%
+0.1 
+0.1 
R&D
(1,198)
79 
-  
-
- 
(1,119)
16 
8 
7 
14 
(1,098)
15 
7 
% sales
14.2%
        
13.3%
-1.5 
-1.1 
    
13.0%
-1.3 
-1.0 
SG&A
(2,868)
39 
118  
-
84 
(2,627)
16 
9 
24 
- 
(2,603)
15 
9 
% sales
34.0%
        
31.2%
-3.4 
-3.1 
    
30.9%
-3.3 
-2.9 
Other Income
171 
- 
17  
-
- 
188 
1 
(2)
- 
- 
188 
1 
(2)
% sales
2.0%
        
2.2%
-0.1 
- 
    
2.2%
-0.1 
- 
Operating Profit
2,965 
138 
135* 
-
84 
3,322 
(9)
(10)
56 
14 
3,392 
(8)
(10)
% sales
35.2%
        
39.4%
-5.2 
-4.0 
    
40.2%
-4.9 
-3.6 
Net Finance Expense
(107)
- 
-  
-
- 
(107)
    
- 
- 
(107)
    
Profit before Tax
2,858 
138 
135  
-
84 
3,215 
(9)
(11)
56 
14 
3,285 
(8)
(10)
Taxation
(735)
(34)
(24)* 
-
(22)
(815)
    
(8)
(3)
(826)
    
Profit after Tax
2,123 
104 
111  
-
62 
2,400 
(7)
(9)
48 
11 
2,459 
(7)
(8)
Non-controlling  Interests
(10)
- 
-  
-
- 
(10)
    
- 
- 
(10)
    
Net Profit
2,113 
104 
111  
-
62 
2,390 
(7)
(9)
48 
11 
2,449 
(7)
(8)
Weighted Average Shares
1,381 
1,381 
1,381  
1,381
1,381 
1,381 
    
1,381 
1,381 
1,381 
    
Earnings per Share
1.53 
0.08 
0.08  
-
0.04 
1.73 
(3)
(5)
0.03 
0.01 
1.77 
(2)
(4)
 
*
Of the $135 million amortisation adjustment, $94 million is related to MedImmune, with a corresponding tax adjustment of $24 million; Merck related amortisation was $41 million, which carries no tax adjustment.
 
 
 
 
 
 
First Quarter 2011
 
All financial figures, except earnings per share, are in $ millions.  Weighted average shares in millions.
 
 
Reported
2011
Restructuring
Merck &
MedImmune
Amortisation
Intangible
Impairments
Legal
Provisions
& Other
Core
2011
 
Actual
%
CER
%
Amortisation
Impairments
Revised Core 2011
Actual
%
CER
%
Revenue
8,292 
- 
- 
-
-
8,292 
(3)
(4)
- 
- 
8,292 
(3)
(4)
Cost of Sales
(1,339)
12 
- 
-
-
(1,327)
    
25 
- 
(1,302)
    
Gross Profit
6,953 
12 
- 
-
-
6,965 
- 
(1)
25 
- 
6,990 
- 
- 
% sales
83.9%
        
84.0%
+3.0 
+3.0
    
84.3%
+3.1 
+3.2 
Distribution
(80)
- 
- 
-
-
(80)
3 
- 
- 
- 
(80)
3 
- 
% sales
1.0%
        
1.0%
-0.1 
- 
    
1.0%
-0.1 
- 
R&D
(1,162)
90 
- 
-
-
(1,072)
10 
7 
7 
32 
(1,033)
6 
4 
% sales
14.0%
        
12.9%
-1.6 
-1.3 
    
12.4%
-1.1 
-0.9 
SG&A
(2,508)
41 
117 
-
-
(2,350)
2 
1 
18 
- 
(2,332)
2 
1 
% sales
30.3%
        
28.3%
-1.3 
-1.4 
    
28.2%
-1.4 
-1.4 
Other Income
198 
- 
17 
-
-
215 
(20)
(21)
- 
- 
215 
(20)
(21)
% sales
2.4%
        
2.6%
-0.6 
-0.6 
    
2.6%
-0.6 
-0.6 
Operating Profit
3,401 
143 
134*
-
-
3,678 
(5)
(5)
50 
32 
3,760 
(3)
(4)
% sales
41.0%
        
44.4%
-0.6 
-0.3 
    
45.3%
-0.1 
+0.3 
Net Finance Expense
(113)
- 
- 
-
-
(113)
    
- 
- 
(113)
    
Profit before Tax
3,288 
143 
134 
-
-
3,565 
(5)
(4)
50 
32 
3,647 
(3)
(3)
Taxation
(373)
(40)
(26)*
-
-
(439)
    
(7)
(9)
(455)
    
Profit after Tax
2,915 
103 
108 
-
-
3,126 
6 
6 
43 
23 
3,192 
7 
7 
Non-controlling Interests
(8)
- 
- 
-
-
(8)
    
- 
- 
(8)
    
Net Profit
2,907 
103 
108 
-
-
3,118 
6 
6 
43 
23 
3,184 
7 
7 
Weighted Average Shares
1,397 
1,397 
1,397 
1,397
1,397
 
1,397 
    
 
1,397 
 
1,397 
 
1,397 
    
Earnings per Share
2.08 
0.07 
0.08 
-
-
2.23 
10 
10 
0.03 
0.02 
2.28 
11 
11 
       
 
*
Of the $134 million amortisation adjustment, $93 million is related to MedImmune, with a corresponding tax adjustment of $26 million; Merck related amortisation was $41 million, which carries no tax adjustment. 
  
                               
 
 
 


 
 
 
SIGNATURES
 
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
 
AstraZeneca PLC
 
Date: 12 November 2012
By: /s/ Adrian Kemp
 
Name: Adrian Kemp
 
Title: Company Secretary