Merck & Co., Inc. and Subsidiaries
Years Ended December 31
Percentage Change
from Preceding Year
($ in millions except per share amounts)
2007(1)
2006(2)
2005(3)
2007
2006
Sales
$
24,197.7
$
22,636.0
$
22,011.9
+7
%
+3
%
Net income
3,275.4
4,433.8
4,631.3
-26
%
-4
%
Earnings per common share assuming dilution
$
1.49
$
2.03
$
2.10
-27
%
-3
%
Cash dividends paid per common share
$
1.52
$
1.52
$
1.52
Average common shares outstanding assuming dilution (millions)
2,192.9
2,187.7
2,200.4
Total assets
48,350.7
44,569.8
44,845.8
Net cash flows provided by operating activities
6,999.2
6,765.2
7,608.5
Capital expenditures
1,011.0
980.2
1,402.7
Net income as a % of average total assets
7.0
%
9.9
%
10.6
%
Number of stockholders of record
173,000
184,200
198,200
Number of employees
59,800
60,000
61,500
(1) Amounts for 2007 include the impact of the U.S.
Vioxx Settlement Agreement charge, restructuring actions,
a civil governmental investigations charge, an insurance arbitration
settlement gain, acquired research expense resulting from an
acquisition, additional Vioxx legal defense costs, gains on
sales of assets and product divestitures, as well as a net gain on the
settlements of certain patent disputes.
(2) Amounts for 2006 include the impact of restructuring
actions, acquired research expenses resulting from acquisitions,
additional Vioxx legal defense costs and the adoption of a
new accounting standard requiring the expensing of stock options.
(3) Amounts for 2005 include the impact of the net tax
charge primarily associated with the AJCA repatriation,
restructuring actions and additional Vioxx legal defense
costs.
(1) Amount for 2004 includes the impact of the withdrawal of
Vioxx.
(2) Amount for 2007 includes the impact of the U.S.
Vioxx Settlement Agreement charge, restructuring actions, a
civil governmental investigations charge, an insurance arbitration
settlement gain, acquired research expense resulting from an acquisition,
additional Vioxx legal defense costs, gains on sales of assets
and product divestitures, as well as a net gain on the settlements of
certain patent disputes.
(3) Amount for 2006 includes the impact of restructuring
actions, acquired research expenses resulting from acquisitions,
additional Vioxx legal defense costs and the adoption of a new
accounting standard requiring the expensing of stock options.
(4) Amount for 2005 includes the impact of the net tax charge
primarily associated with the AJCA repatriation, restructuring actions
and additional Vioxx legal defense costs.
(5) Amount for 2004 includes the impact of the withdrawal of
Vioxx, Vioxx legal defense costs and restructuring
actions.
(6) Amount for 2003 includes the impact of the implementation
of a new distribution program for U.S. wholesalers and restructuring
actions.
