Is ther any risk to consolidating financial statements

A reconciliation of net income to non-GAAP earnings is presented below (in millions, except per share data): We changed the presentation of our non-GAAP earnings in the first quarter of 2017 to exclude adjustments for interest expense and depreciation and amortization.

Prior year periods have been conformed to match the current year presentation.

Our amended license agreement with Eli Lilly and Company resulted in our royalty rate on net product sales of Adcirca increasing from five percent to an effective rate of approximately 42.5 percent beginning December 1, 2017.

The remaining increase in cost of product sales was primarily attributable to an increase in sales. The table below summarizes research and development expense by major category (dollars in millions):" data-reactid="33", respectively, for the quarter and year ended December 31, 2017 as compared to the same periods in 2016, were driven by the expansion of our pipeline programs to treat cardiopulmonary disease and cancer and to develop organ manufacturing technologies." data-reactid="39", respectively, for the quarter and year ended December 31, 2017 as compared to the same periods in 2016, were driven by the expansion of our pipeline programs to treat cardiopulmonary disease and cancer and to develop organ manufacturing technologies. The table below summarizes selling, general and administrative expense by major category (dollars in millions):" data-reactid="40" increase in legal fees incurred in connection with intellectual property litigation and the Department of Justice (DOJ) investigation of our support of 501(c)(3) organizations that provide financial assistance to patients; (2) a increase in legal fees incurred in connection with intellectual property litigation and the Department of Justice (DOJ) investigation of our support of 501(c)(3) organizations that provide financial assistance to patients; (2) a decrease in compensation and related costs associated with the 2016 consolidation of our sales and marketing staff. The table below summarizes share-based compensation expense (benefit) by major category (dollars in millions):" data-reactid="52"Settlement of Loss Contingency Litigation—Department of Justice Subpoena, to our consolidated financial statements included within our Annual Report on Form 10-K for the year ended December 31, 2017." data-reactid="61"In December 2017, we entered into a civil Settlement Agreement with the U. Government to resolve a DOJ investigation related to our support of 501(c)(3) organizations that provide financial assistance to patients. This matter is described in more detail in Note 16—Litigation—Department of Justice Subpoena, to our consolidated financial statements included within our Annual Report on Form 10-K for the year ended December 31, 2017.

For the years ended December 31, 20, the effective tax rates were approximately 46 percent and 33 percent, respectively." data-reactid="65" for the same period in 2016.

The change in the provision for income taxes was primarily due to a charge for the revaluation of deferred taxes due to the lower corporate tax rate enacted by The Tax Cuts and Jobs Act ("Tax Reform"), which is effective as of January 1, 2018, and increases in nondeductible items, partially offset by a decrease in income before income taxes.

Consequently, such forward-looking statements are qualified by the cautionary statements, cautionary language and risk factors set forth in our periodic reports and documents filed with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K.

We claim the protection of the safe harbor contained in the Private Securities Litigation Reform Act of 1995 for forward-looking statements.

The tax benefit for the year ended December 31, 2017 includes .0 million of benefit for the estimated loss contingency recognized during the second quarter of 2017 relating to the DOJ investigation of our support of 501(c)(3) organizations that provide financial assistance to patients.Forward-looking statements include, among others, statements relating to the growth opportunity for Orenitram, our ability to develop and advance products within our pipeline, and the potential for these programs to result in a cure for PAH and other end-stage organ diseases.These forward-looking statements are subject to certain risks and uncertainties, such as those described in our periodic reports filed with the Securities and Exchange Commission, that could cause actual results to differ materially from anticipated results.In addition, our calculation of this non-GAAP financial measure may differ from the methodology used by other companies.The presentation of this non-GAAP financial measure should not be considered in isolation or as a substitute for our financial results prepared in accordance with GAAP.

During the second quarter of 2017, we recorded a $210.0 million accrual relating to this matter, and ultimately paid this amount, plus interest, to the U. Impairment of Cost Method Investment" data-reactid="62" for the same period in 2016.

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Is ther any risk to consolidating financial statements introduction

Is ther any risk to consolidating financial statements