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: 2016 | |||
Consolidated Statements of Earnings | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 17, 2017) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Net revenues | $ 25,638 | 22,859 | 19,960 |
| Cost of products sold | 5,833 | 4,500 | 4,426 |
| Selling, general and administrative | 5,855 | 6,387 | 7,724 |
| Research and development | 4,366 | 4,285 | 3,297 |
| Acquired in-process research and development | 200 | 150 | 352 |
| Other expense | 0 | 750 | |
| Total operating costs and expenses | 16,254 | 15,322 | 16,549 |
| Operating earnings | 9,384 | 7,537 | 3,411 |
| Interest expense, net | 965 | 686 | 391 |
| Net foreign exchange loss | 303 | 193 | 678 |
| Other expense (income), net | 232 | 13 | (27) |
| Earnings before income tax expense | 7,884 | 6,645 | 2,369 |
| Income tax expense | 1,931 | 1,501 | 595 |
| Net earnings | 5,953 | 5,144 | 1,774 |
| Per share data | |||
| Basic earnings per share (in dollars per share) | 3.65 | 3.15 | 1.11 |
| Diluted earnings per share (in dollars per share) | 3.63 | 3.13 | 1.10 |
| Cash dividends declared per common share (in dollars per share) | 2.35 | 2.10 | 1.75 |
| Weighted-average basic shares outstanding (in shares) | 1,622 | 1,625 | 1,595 |
| Weighted-average diluted shares outstanding (in shares) | 1,631 | 1,637 | 1,610 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ABBVIE INC. | |||
Ticker: ABBV Fiscal Year: 2016 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 17, 2017) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Net earnings | $ 5,953 | 5,144 | 1,774 |
| Foreign currency translation adjustments, net of tax expense (benefit) of $(31) in 2016, $(139) in 2015 and $(158) in 2014 | (165) | (667) | (1,073) |
| Pension and post-employment benefits, net of tax expense (benefit) of $(75) in 2016, $96 in 2015 and $(351) in 2014 | (135) | 230 | (781) |
| Unrealized gains (losses) on marketable securities, net of tax expense (benefit) of $(11) in 2016, $22 in 2015 and $1 in 2014 | (1) | 44 | 1 |
| Other comprehensive loss | (25) | (530) | (1,589) |
| Comprehensive income | 5,928 | 4,614 | 185 |
| Hedging Relationship | |||
| Net investment hedging activities, net of tax expense (benefit) of $79 in 2016, $ in 2015 and $ in 2014 | |||
| Hedging activities, net of tax | 140 | 0 | 0 |
| Cash flow hedging activities, net of tax expense (benefit) of $18 in 2016, $(6) in 2015 and $8 in 2014 | |||
| Hedging activities, net of tax | 136 | (137) | 264 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ABBVIE INC. | |||
Ticker: ABBV Fiscal Year: 2016 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 17, 2017) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Cash flows from operating activities | |||
| Net earnings | $ 5,953 | 5,144 | 1,774 |
| Adjustments to reconcile net earnings to net cash from operating activities: | |||
| Depreciation | 425 | 417 | 383 |
| Amortization of intangible assets | 764 | 419 | 403 |
| Change in fair value of contingent consideration | 228 | 0 | 0 |
| Stock-based compensation | 353 | 282 | 241 |
| Upfront costs and milestones related to collaborations | 280 | 280 | 1,102 |
| Devaluation loss related to Venezuela | 298 | 0 | 0 |
| Other, net | 429 | 489 | 434 |
| Changes in operating assets and liabilities, net of acquisitions: | |||
| Accounts receivable | (71) | (1,076) | (172) |
| Inventories | (38) | (434) | (203) |
| Prepaid expenses and other assets | (393) | 511 | (220) |
| Accounts payable and other liabilities | (1,187) | 1,503 | (193) |
| Cash flows from operating activities | 7,041 [1] | 7,535 | 3,549 |
| Cash flows from investing activities | |||
| Acquisition of businesses, net of cash acquired | (2,495) | (11,488) | |
| Other acquisitions and investments | (262) | (964) | (622) |
| Acquisitions of property and equipment | (479) | (532) | (612) |
| Purchases of investment securities | (5,315) | (851) | (1,169) |
| Sales and maturities of investment securities | 2,359 | 899 | 1,477 |
| Other | 118 | 0 | 0 |
| Cash flows from investing activities | (6,074) | (12,936) | (926) |
| Cash flows from financing activities | |||
| Net change in short-term borrowings | (29) | (19) | 12 |
| Proceeds from issuance of long-term debt | 11,627 | 20,660 | |
| Repayments of long-term debt and lease obligations | (6,010) | (4,018) | (17) |
| Debt issuance cost | (69) | (182) | (141) |
| Dividends paid | (3,717) | (3,294) | (2,661) |
| Purchases of treasury stock | (6,033) | (7,586) | (665) |
| Proceeds from the exercise of stock options | 268 | 155 | 232 |
| Other, net | 35 | 36 | (53) |
| Cash flows from financing activities | (3,928) | 5,752 | (3,293) |
| Effect of exchange rate changes on cash and equivalents | (338) | (300) | (577) |
| Net increase (decrease) in cash and equivalents | (3,299) | 51 | (1,247) |
| Cash and equivalents, beginning of year | 8,399 | 8,348 | |
| Cash and equivalents, end of year | 5,100 | 8,399 | 8,348 |
| Other supplemental information | |||
| Interest paid, net of portion capitalized | 986 | 536 | 419 |
| Income taxes paid | 3,563 | 1,108 | 498 |
| Supplemental schedule of non-cash investing and financing activities | |||
| Issuance of common shares associated with acquisitions of businesses | 3,923 | 8,405 | |
| [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. See Note 5 for additional information. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ABBVIE INC. | ||
Ticker: ABBV Fiscal Year: 2016 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2016 10-K (Filed: Feb 17, 2017) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2016 | Dec 31, 2015 | |
| Assets | ||
| Current assets | ||
| Cash and equivalents | $ 5,100 | 8,399 |
| Short-term investments | 1,323 | 8 |
| Accounts receivable, net | 4,758 | 4,730 |
| Inventories | 1,444 | 1,719 |
| Prepaid expenses and other | 3,562 | 1,458 |
| Total current assets | 16,187 | 16,314 |
| Investments | 1,783 | 145 |
| Property and equipment, net | 2,604 | 2,565 |
| Intangible assets, net | 28,897 | 19,709 |
| Goodwill | 15,416 | 13,168 |
| Other assets | 1,212 | 1,149 |
| Total assets | 66,099 | 53,050 |
| Liabilities and Equity | ||
| Current liabilities | ||
| Short-term borrowings | 377 | 406 |
| Current portion of long-term debt and lease obligations | 25 | 2,025 |
| Accounts payable and accrued liabilities | 9,379 | 8,463 |
| Total current liabilities | 9,781 | 10,894 |
| Long-term debt and lease obligations | 36,440 | 29,240 |
| Deferred income taxes | 6,890 | 5,276 |
| Other long-term liabilities | 8,352 | 3,695 |
| Commitments and contingencies | ||
| Stockholders equity | ||
| Common stock, $0.01 par value, 4,000,000,000 shares authorized, 1,754,900,486 shares issued as of December 31, 2016 and 1,749,027,140 as of December 31, 2015. | 18 | 17 |
| Common stock held in treasury, at cost, 162,387,762 shares as of December 31, 2016 and 139,134,205 shares as of December 31, 2015. | (10,852) | (8,839) |
| Additional paid-in-capital | 13,678 | 13,080 |
| Retained earnings | 4,378 | 2,248 |
| Accumulated other comprehensive loss | (2,586) | (2,561) |
| Total stockholders equity | 4,636 | 3,945 |
| Total liabilities and equity | 66,099 | 53,050 |
| External Links | |
| ABBVIE INC. (ABBV) Fiscal Year 2016 | |
| 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 |