User blog comment:Degritone/Wdrei, the Jumbler/@comment-27859592-20160709135520/@comment-25364408-20160709141631

If you buy an item with 250 health on it, you get 25 AD instead. It does not continue to fall down the line, so buying, to be as extreme as possible, IE does not give 45% spellvamp from its crit damage, as it does not fall through the stat changers. It also doesn't change stats given from runes, masteries, or from other champions. Lulu still gives health, %hp runes still give %hp, the %resistance mastery still gives %resistances, blah.