Adjustments to Current Assets
Adjustments to Total Assets
Adjustments to Total Liabilities
Adjustments to Stockholders’ Equity
Adjustments to Capitalization Table
Adjustments to Reported Income

Eli Lilly & Co., adjusted current assets

US$ in thousands

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Current assets	25,727,000)	18,034,500)	18,452,400)	17,462,100)	13,709,600)
Adjustments
Add: Allowances	14,800)	16,000)	22,500)	25,900)	22,400)
Add: LIFO reserve¹	(102,400)	(8,900)	(34,200)	(34,800)	(51,200)
After Adjustment
Adjusted current assets	25,639,400)	18,041,600)	18,440,700)	17,453,200)	13,680,800)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ LIFO reserve. See details »

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Eli Lilly & Co., adjusted total assets

US$ in thousands

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Total assets	64,006,300)	49,489,800)	48,806,000)	46,633,100)	39,286,100)
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Add: Allowances	14,800)	16,000)	22,500)	25,900)	22,400)
Add: LIFO reserve²	(102,400)	(8,900)	(34,200)	(34,800)	(51,200)
Less: Deferred tax assets³	5,477,300)	2,792,900)	2,489,300)	2,830,400)	2,572,600)
After Adjustment
Adjusted total assets	58,441,400)	46,704,000)	46,305,000)	43,793,800)	36,684,700)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

² LIFO reserve. See details »

³ Deferred tax assets. See details »

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Eli Lilly & Co., adjusted total liabilities

US$ in thousands

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Total liabilities	53,142,600)	38,714,400)	39,651,200)	40,807,900)	36,587,000)
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Less: Deferred tax liabilities²	103,900)	87,300)	1,733,700)	2,099,900)	2,187,500)
After Adjustment
Adjusted total liabilities	53,038,700)	38,627,100)	37,917,500)	38,708,000)	34,399,500)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Deferred tax liabilities. See details »

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Eli Lilly & Co., adjusted total Eli Lilly and Company shareholders’ equity

US$ in thousands

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Total Eli Lilly and Company shareholders’ equity	10,771,900)	10,649,800)	8,979,200)	5,641,600)	2,606,900)
Adjustments
Less: Deferred tax assets (liabilities), net¹	5,373,400)	2,705,700)	755,900)	730,500)	385,100)
Add: Allowances	14,800)	16,000)	22,500)	25,900)	22,400)
Add: LIFO reserve²	(102,400)	(8,900)	(34,200)	(34,800)	(51,200)
Add: Noncontrolling interests	91,800)	125,600)	175,600)	183,600)	92,200)
After Adjustment
Adjusted total equity	5,402,700)	8,076,800)	8,387,200)	5,085,800)	2,285,200)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ Deferred tax assets (liabilities), net. See details »

² LIFO reserve. See details »

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Eli Lilly & Co., adjusted capitalization table

US$ in thousands

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Short-term borrowings and current maturities of long-term debt	6,904,500)	1,501,100)	1,538,300)	8,700)	1,499,300)
Long-term debt, excluding current maturities	18,320,800)	14,737,500)	15,346,400)	16,586,600)	13,817,900)
Total reported debt	25,225,300)	16,238,600)	16,884,700)	16,595,300)	15,317,200)
Total Eli Lilly and Company shareholders’ equity	10,771,900)	10,649,800)	8,979,200)	5,641,600)	2,606,900)
Total reported capital	35,997,200)	26,888,400)	25,863,900)	22,236,900)	17,924,100)
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Add: Current portions of operating lease liabilities (included in Other current liabilities)²	197,000)	154,200)	148,400)	150,900)	121,700)
Add: Long-term portions of operating lease liabilities (included in Other noncurrent liabilities)³	910,400)	574,000)	537,300)	512,800)	486,700)
Adjusted total debt	26,332,700)	16,966,800)	17,570,400)	17,259,000)	15,925,600)
Adjustments to Equity
Less: Deferred tax assets (liabilities), net⁴	5,373,400)	2,705,700)	755,900)	730,500)	385,100)
Add: Allowances	14,800)	16,000)	22,500)	25,900)	22,400)
Add: LIFO reserve⁵	(102,400)	(8,900)	(34,200)	(34,800)	(51,200)
Add: Noncontrolling interests	91,800)	125,600)	175,600)	183,600)	92,200)
Adjusted total equity	5,402,700)	8,076,800)	8,387,200)	5,085,800)	2,285,200)
After Adjustment
Adjusted total capital	31,735,400)	25,043,600)	25,957,600)	22,344,800)	18,210,800)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Current portions of operating lease liabilities (included in Other current liabilities). See details »

³ Long-term portions of operating lease liabilities (included in Other noncurrent liabilities). See details »

⁴ Deferred tax assets (liabilities), net. See details »

⁵ LIFO reserve. See details »

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Eli Lilly & Co., adjusted net income

US$ in thousands

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Net income	5,240,400)	6,244,800)	5,581,700)	6,193,700)	8,318,400)
Adjustments
Add: Deferred income tax expense (benefit)¹	(2,341,000)	(2,185,200)	(802,300)	(134,500)	62,400)
Add: Increase (decrease) in allowances	(1,200)	(6,500)	(3,400)	3,500)	(1,700)
Add: Increase (decrease) in LIFO reserve²	(93,500)	25,300)	600)	16,400)	(14,800)
Less: Net income from discontinued operations	—)	—)	—)	—)	3,680,500)
Add: Other comprehensive income (loss), net of tax	(482,400)	498,500)	2,153,300)	27,200)	(783,400)
After Adjustment
Adjusted net income	2,322,300)	4,576,900)	6,929,900)	6,106,300)	3,900,400)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ Deferred income tax expense (benefit). See details »

² Increase (decrease) in LIFO reserve. See details »

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Eli Lilly & Co. (NYSE:LLY)

Adjustments to Financial Statements

Adjustments to Current Assets

Adjustments to Total Assets

Adjustments to Total Liabilities

Adjustments to Stockholders’ Equity

Adjustments to Capitalization Table

Adjustments to Reported Income