Company: LGNZZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000886163-25-000012
Chunk: 153

Company: LIGAND PHARMACEUTICALS INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 153
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 the company uses income from continuing operations, adjusted for preferred dividends and similar adjustments, as its control number to determine whether potential common shares a dilutive. The following table presents the calculation of weighted average shares used to calculate basic and diluted income (loss) per share (in thousands):Year Ended December 31, 202420232022Weighted average shares outstanding:18,290 17,298 16,868 Dilutive potential common shares:   Restricted stock— 85 —    Stock options— 255 —    2023 Convertible Senior Notes— 119 — Shares used to compute diluted income per share18,290 17,757 16,868 Potentially dilutive shares excluded from calculation due to anti-dilutive effect1,530 4,357 6,241 Foreign Currency TranslationThe Euro is the functional currency of Apeiron and the corresponding financial statements have been translated into U.S. Dollars in accordance with ASC 830-30, Translation of Financial Statements. Assets and liabilities are translated at end-of-period rates while revenues and expenses are translated at average rates in effect during the period in which the activity took 

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place. Equity is translated at historical rates and the resulting cumulative translation adjustments are included as a component of accumulated other comprehensive income (loss).Comprehensive Income (Loss)Comprehensive income (loss) represents net income (loss) adjusted for the change during the periods presented for unrealized gains and losses on available-for-sale debt securities and foreign currency translation adjustments. Accounting Standards Updates, Recently AdoptedIn November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. We have adopted the updated accounting guidance in our Annual Report on the Form 10-K for the year ended December 31, 2024. We have updated our segment disclosure (see “Note (1), Basis of Presentation and Summary of Significant Accounting Policies”) including, among other required items, the information on significant segment expenses that are regularly provided to the CODM and included within the reported segment profit or loss measure.Accounting Standards Not Yet AdoptedIn December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The update requires a public business entity to disclose, on an annual basis, a tabular rate reconciliation using both percentages and currency amounts, broken out into specified categories