10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ABBVIE INC. | |||
Ticker: ABBV Fiscal Year: 2015 | |||
Consolidated Statements of Earnings | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 19, 2016) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Net Revenues | $ 22,859 | 19,960 | 18,790 |
| Cost of products sold | 4,500 | 4,426 | 4,581 |
| Selling, general and administrative | 6,387 | 7,724 | 5,352 |
| Research and development | 4,285 | 3,297 | 2,855 |
| Acquired in-process research and development | 150 | 352 | 338 |
| Other expense | 750 | ||
| Total operating costs and expenses | 15,322 | 16,549 | 13,126 |
| Operating earnings | 7,537 | 3,411 | 5,664 |
| Interest expense, net | 686 | 391 | 278 |
| Net foreign exchange loss | 193 | 678 | 55 |
| Other (income) expense, net | 13 | (27) | (1) |
| Earnings before income tax expense | 6,645 | 2,369 | 5,332 |
| Income tax expense | 1,501 | 595 | 1,204 |
| Net earnings | 5,144 | 1,774 | 4,128 |
| Per share data | |||
| Basic earnings per share (in dollars per share) | 3.15 | 1.11 | 2.58 |
| Diluted earnings per share (in dollars per share) | 3.13 | 1.10 | 2.56 |
| Cash dividends declared per common share (in dollars per share) | 2.10 | 1.75 | 2.00 [1] |
| Weighted-average basic shares outstanding (in shares) | 1,625 | 1,595 | 1,589 |
| Weighted-average diluted shares outstanding (in shares) | 1,637 | 1,610 | 1,604 |
| [1] On January 4, 2013, a cash dividend of $0.40 per share of common stock was declared from pre-separation earnings and was recorded as a reduction of additional paid-in capital. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ABBVIE INC. | |||
Ticker: ABBV Fiscal Year: 2015 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 19, 2016) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Net earnings | $ 5,144 | 1,774 | 4,128 |
| Foreign currency translation adjustments, net of tax (benefit) expense of $(139) in 2015, $(158) in 2014, and $71 in 2013 | (667) | (1,073) | 48 |
| Pension and post-employment benefits, net of tax expense (benefit) of $96 in 2015, $(351) in 2014, and $309 in 2013 | 230 | (781) | 598 |
| Unrealized gains on marketable equity securities, net of tax expense of $22 in 2015, $1 in 2014, and $- in 2013 | 44 | 1 | 1 |
| Hedging activities, net of tax (benefit) expense of $(6) in 2015, $8 in 2014, and $- in 2013 | (137) | 264 | (77) |
| Other comprehensive (loss) income | (530) | (1,589) | 570 |
| Comprehensive income | 4,614 | 185 | 4,698 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ABBVIE INC. | |||
Ticker: ABBV Fiscal Year: 2015 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 19, 2016) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Cash flows from operating activities | |||
| Net earnings | $ 5,144 | 1,774 | 4,128 |
| Adjustments to reconcile net earnings to net cash from operating activities: | |||
| Depreciation | 417 | 383 | 388 |
| Amortization of intangible assets | 419 | 403 | 509 |
| Stock-based compensation | 282 | 241 | 212 |
| Upfront costs and milestones related to collaborations | 280 | 1,102 | 338 |
| Other, net | 489 | 434 | 34 |
| Changes in operating assets and liabilities, net of acquisitions: | |||
| Accounts and other receivables | (1,076) | (172) | 681 |
| Inventories | (434) | (203) | (56) |
| Prepaid expenses and other assets | 511 | (220) | 459 |
| Accounts payable and other liabilities | 1,503 | (193) | (426) |
| Cash flows from operating activities | 7,535 [1] | 3,549 | 6,267 |
| Cash flows from investing activities | |||
| Acquisitions of Pharmacyclics, Inc., net of cash acquired | (11,488) | ||
| Other acquisitions and investments | (964) | (622) | (405) |
| Acquisitions of property and equipment | (532) | (612) | (491) |
| Purchases of investment securities | (851) | (1,169) | (930) |
| Sales and maturities of investment securities | 880 | 1,477 | 2,705 |
| Other | 19 | ||
| Cash flows from investing activities | (12,936) | (926) | 879 |
| Cash flows from financing activities | |||
| Net change in short-term borrowings | (19) | 12 | (601) |
| Proceeds from issuance of long-term debt | 20,660 | ||
| Repayments of long-term debt and capital leases | (4,018) | (17) | |
| Debt issuance cost | (182) | (141) | |
| Dividends paid | (3,294) | (2,661) | (2,555) |
| Purchases of treasury stock | (7,567) | (652) | (320) |
| Proceeds from the exercise of stock options | 142 | 225 | 347 |
| Net transactions with Abbott Laboratories, excluding non-cash items | (247) | ||
| Other, net | 30 | (59) | (66) |
| Cash flows from financing activities | 5,752 | (3,293) | (3,442) |
| Effect of exchange rate changes on cash and equivalents | (300) | (577) | (10) |
| Net increase (decrease) in cash and equivalents | 51 | (1,247) | 3,694 |
| Cash and equivalents, beginning of period | 8,348 | 9,595 | |
| Cash and equivalents, end of period | 8,399 | 8,348 | 9,595 |
| Supplemental Schedule of Non-Cash Investing and Financing Activities | |||
| Issuance of common stock associated with the acquisition of Pharmacyclics, Inc. | 8,405 | ||
| Other supplemental information | |||
| Interest paid, net of portion capitalized | 536 | 419 | 283 |
| Income taxes paid | 1,108 | 498 | 1,305 |
| [1] Cash flows from operating activities included the impact of transaction and financing-related and other costs incurred in connection with the terminated proposed combination with Shire plc. Refer to Note 5 for additional information. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ABBVIE INC. | ||
Ticker: ABBV Fiscal Year: 2015 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2015 10-K (Filed: Feb 19, 2016) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2015 | Dec 31, 2014 | |
| Assets | ||
| Current assets | ||
| Cash and equivalents | $ 8,399 | 8,348 |
| Short-term investments | 8 | 26 |
| Accounts and other receivables, net | 4,730 | 3,735 |
| Inventories, net | 1,719 | 1,124 |
| Deferred income taxes | 896 | |
| Prepaid expenses and other | 1,458 | 1,952 |
| Total current assets | 16,314 | 16,081 |
| Investments | 145 | 92 |
| Property and equipment, net | 2,565 | 2,485 |
| Intangible assets, net of amortization | 19,709 | 1,513 |
| Goodwill | 13,168 | 5,862 |
| Other assets | 1,149 | 1,480 |
| Total assets | 53,050 | 27,513 |
| Liabilities and Equity | ||
| Current liabilities | ||
| Short-term borrowings | 406 | 425 |
| Current portion of long-term debt and lease obligations | 2,025 | 4,014 |
| Accounts payable and accrued liabilities | 8,463 | 6,954 |
| Total current liabilities | 10,894 | 11,393 |
| Long-term debt and lease obligations | 29,240 | 10,538 |
| Deferred income taxes | 5,276 | 159 |
| Other long-term liabilities | 3,695 | 3,681 |
| Commitments and contingencies | ||
| Stockholders' equity | ||
| Common stock, $0.01 par value, authorized 4,000,000,000 shares, issued 1,749,027,140 and 1,609,519,046 shares as of December 31, 2015 and 2014, respectively | 17 | 16 |
| Common stock held in treasury, at cost, 139,134,205 and 18,129,715 shares as of December 31, 2015 and 2014, respectively | (8,839) | (972) |
| Additional paid-in-capital | 13,080 | 4,194 |
| Retained earnings | 2,248 | 535 |
| Accumulated other comprehensive loss | (2,561) | (2,031) |
| Total stockholders' equity | 3,945 | 1,742 |
| Total liabilities and equity | 53,050 | 27,513 |
| External Links | |
| ABBVIE INC. (ABBV) Fiscal Year 2015 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |