Item 2.02 Results of Operations and Financial Condition
On February 13, 2013, Hospira, Inc. ("Hospira") issued a press release
announcing its financial results for the fourth quarter and full-year 2012. Such
press release is furnished as Exhibit 99.1, and is incorporated herein by
reference.
In the press release, Hospira uses various non-GAAP financial measures
including, among others, net sales at constant currency, adjusted gross profit,
adjusted income from operations, adjusted net income, and adjusted diluted
earnings per share. These non-GAAP measures adjust for certain specified items
that are described in the press release and attached schedules. Hospira's
management believes that these non-GAAP financial measures can facilitate a more
complete analysis and greater transparency into Hospira's ongoing results of
operations, particularly in comparing underlying results from period to period.
Management uses these non-GAAP financial measures internally in financial
planning to monitor business unit performance and in evaluating management
performance. All non-GAAP financial measures are intended to supplement the
applicable GAAP measures and should not be considered in isolation from, or a
replacement for, financial measures prepared in accordance with GAAP.