Required: Refer to Eli Lilly's 2012 annual report to answer the following questions. The 2012 annual report of Eli Lilly & Company can be found here:
https://www.sec.gov/Archives/edgar/data/59478/000005947813000007/lly-20121231x10k.htm
Problem 1. What time frame does Eli Lilly use to amortize its finite-lived intangible assets?
Problem 2. When does Eli Lilly test its intangibles for impairment?
Problem 3. What is the balance sheet value of goodwill and other intangibles at 12/31/2012? What types of intangible assets are included in this line item? How is amortization expense distributed in the Income Statement?
Problem 4. How much goodwill was recorded when Eli Lilly purchased Alnara during 2010?
Problem 5. Has Eli Lilly recognized an impairment loss on its goodwill in the past three years? Where can you find this information?
Problem 6. What was the company's R&D expense for 2012?