Total Other Income, Net1 2 ($ in millions)
| 2008 | Q1 | Q2 | Q3 | Q4 | Year |
|---|---|---|---|---|---|
| Biotech gains | $ 1 | $ 43 | $ 22 | - | - |
| Biotech writedowns | - | $ (1) | - | - | - |
| Interest income | |||||
| Investment income3 | $ 69 | $ 51 | $ 15 | - | - |
| Impairment charges4 | - | - | $ (67) | - | - |
| Interest expense5 | $ (18) | $ (15) | $ (25) | - | - |
| Other non-operating income (loss) | $ 4 | - | $ (3) | - | - |
| TOTAL | $ 56 | $ 78 | $ (58) | - | - |
| 2007 | Q1 | Q2 | Q3 | Q4 | Year |
|---|---|---|---|---|---|
| Biotech gains | $ 8 | $ 4 | $ 5 | $ 5 | $ 22 |
| Biotech writedowns | $ (3) | - | - | $ (16) | $ (20) |
| Interest income | |||||
| Investment income3 | $ 69 | $ 70 | $ 80 | $ 80 | $ 300 |
| Impairment charges4, 6 | - | - | - | $ (30) | $ (30) |
| Interest expense5 | $ (18) | $ (17) | $ (18) | $ (22) | $ (76) |
| Other non-operating income | - | $ 1 | $ (1) | $ 1 | $ 1 |
| TOTAL | $ 56 | $ 58 | $ 66 | $ 18 | $ 197 |
| 2006 | Q1 | Q2 | Q3 | Q4 | Year |
|---|---|---|---|---|---|
| Biotech gains | $ 3 | $ 66 | $ 11 | $ 12 | $ 93 |
| Biotech writedowns | - | - | $ (1) | $ (3) | $ (4) |
| Interest income | $ 49 | $ 54 | $ 64 | $ 64 | $ 230 |
| Interest expense5 | $ (19) | $ (18) | $ (19) | $ (18) | $ (74) |
| Other non-operating income | $ 1 | $ 1 | - | $ 4 | $ 6 |
| TOTAL | $ 34 | $ 103 | $ 55 | $ 59 | $ 251 |
| 2005 | Q1 | Q2 | Q3 | Q4 | Year |
|---|---|---|---|---|---|
| Biotech gains | $ 0.9 | $ 0.5 | $ 3.5 | $ 4.2 | $ 9.1 |
| Biotech writedowns | $ (3.5) | $ (0.1) | $ (2.1) | $ (4.4) | $ (10.1) |
| Interest income | $ 21.8 | $ 35.0 | $ 41.2 | $ 43.9 | $ 141.9 |
| Interest expense5 | $ (2.8) | $ (3.9) | $ (20.2) | $ (23.0) | $ (49.9) |
| TOTAL | $ 16.4 | $ 31.5 | $ 22.4 | $ 20.7 | $ 91.0 |
| 2004 | Q1 | Q2 | Q3 | Q4 | Year |
|---|---|---|---|---|---|
| Biotech gains | $ 0.7 | $ 0.4 | $ 10.5 | $ 0.3 | $ 11.9 |
| Biotech writedowns | - | $ (0.1) | $ (12.0) | $ (0.3) | $ (12.4) |
| Interest income | $ 23.0 | $ 16.5 | $ 26.9 | $ 24.1 | $ 90.5 |
| Interest expense | $ (1.4) | $ (1.4) | $ (1.9) | $ (2.7) | $ (7.4) |
| TOTAL | $ 22.3 | $ 15.4 | $ 23.5 | $ 21.4 | $ 82.6 |
| 2003 | Q1 | Q2 | Q3 | Q4 | Year |
|---|---|---|---|---|---|
| Biotech gains | $ 0.5 | $ 19.7 | $ 0.8 | $ 0.1 | $ 21.1 |
| Biotech writedowns | $ (3.7) | - | - | - | $ (3.8) |
| Interest income | $ 18.9 | $ 21.2 | $ 16.1 | $ 22.2 | $ 78.4 |
| Interest expense | - | - | $ (1.0) | $ (2.0) | $ (2.9) |
| TOTAL | $ 15.7 | $ 40.9 | $ 15.9 | $ 20.3 | $ 92.8 |
| 2002 | Q1 | Q2 | Q3 | Q4 | Year |
|---|---|---|---|---|---|
| Biotech gains | $ 17.1 | - | $ 17.9 | $ 12.8 | $ 47.9 |
| Biotech writedowns | $ (8.2) | $ (1.2) | $ (23.6) | $ (7.7) | $ (40.8) |
| Interest income | $ 28.3 | $ 30.0 | $ 20.8 | $ 22.2 | $ 101.4 |
| Interest expense | $ (0.8) | - | - | - | $ (0.8) |
| TOTAL | $ 36.4 | $ 28.8 | $ 15.1 | $ 27.3 | $ 107.7 |
| 2001 | Year |
|---|---|
| Biotech gains | $ 27.7 |
| Biotech writedowns | $ (27.5) |
| Interest income | $ 130.5 |
| Interest expense | $ (5.7) |
| TOTAL | $ 125.0 |
(1) As part of our strategic alliance efforts, we invest in debt and equity securities of certain biotechnology companies with which we have or have had collaborative agreements. The "other income, net" includes realized gains and losses from the sale of certain of these biotechnology equity securities as well as changes in the recoverability of our debt securities. In addition, "other income, net" includes write-downs for other-than-temporary declines in the fair value of certain of these biotechnology debt and equity securities, interest income and interest expense.
(2) The values shown above are exact, which may lead to the appearance of footing errors.
(3) Investment income includes interest and dividend income, bond-related amortization, realized gains and losses on available-for-sale securities and trading securities, and changes in unrealized gains and losses on trading securities.
(4) Impairment charges consist of write-downs for other-than-temporary declines in the fair value of financial investments.
(5) Beginning in Q4 2005, Interest expense is reported as a separate line item within the consolidated statements of income data.
(6) Presentation changed to report Q4 2007 impairment as a separate line item.