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: 2017 | |||
Consolidated Statements of Earnings | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 16, 2018) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Net revenues | $ 28,216 | 25,638 | 22,859 |
| Cost of products sold | 7,040 | 5,833 | 4,500 |
| Selling, general and administrative | 6,275 | 5,855 | 6,387 |
| Research and development | 4,982 | 4,366 | 4,285 |
| Acquired in-process research and development | 327 | 200 | 150 |
| Total operating costs and expenses | 18,624 | 16,254 | 15,322 |
| Operating earnings | 9,592 | 9,384 | 7,537 |
| Interest expense, net | 1,004 | 965 | 686 |
| Net foreign exchange loss | 348 | 303 | 193 |
| Other expense, net | 513 | 232 | 13 |
| Earnings before income tax expense | 7,727 | 7,884 | 6,645 |
| Income tax expense | 2,418 | 1,931 | 1,501 |
| Net earnings | 5,309 | 5,953 | 5,144 |
| Per share data | |||
| Basic earnings per share (in dollars per share) | 3.31 | 3.65 | 3.15 |
| Diluted earnings per share (in dollars per share) | 3.30 | 3.63 | 3.13 |
| Cash dividends declared per common share (in dollars per share) | 2.63 | 2.35 | 2.10 |
| Weighted-average basic shares outstanding (in shares) | 1,596 | 1,622 | 1,625 |
| Weighted-average diluted shares outstanding (in shares) | 1,603 | 1,631 | 1,637 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ABBVIE INC. | |||
Ticker: ABBV Fiscal Year: 2017 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 16, 2018) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Net earnings | $ 5,309 | 5,953 | 5,144 |
| Foreign currency translation adjustments, net of tax expense (benefit) of $34 in 2017, $(31) in 2016 and $(139) in 2015 | 996 | (165) | (667) |
| Pension and post-employment benefits, net of tax expense (benefit) of $(94) in 2017, $(75) in 2016 and $96 in 2015 | (406) | (135) | 230 |
| Marketable security activities, net of tax expense (benefit) of $(8) in 2017, $(11) in 2016 and $22 in 2015 | (46) | (1) | 44 |
| Other comprehensive loss | (141) | (25) | (530) |
| Comprehensive income | 5,168 | 5,928 | 4,614 |
| Hedging Relationship | |||
| Net investment hedging activities, net of tax expense (benefit) of $(194) in 2017, $79 in 2016 and $ in 2015 | |||
| Hedging activities, net of tax | (343) | 140 | 0 |
| Cash flow hedging activities, net of tax expense (benefit) of $(26) in 2017, $18 in 2016 and $(6) in 2015 | |||
| Hedging activities, net of tax | (342) | 136 | (137) |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ABBVIE INC. | |||
Ticker: ABBV Fiscal Year: 2017 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 16, 2018) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Cash flows from operating activities | |||
| Net earnings | $ 5,309 | 5,953 | 5,144 |
| Adjustments to reconcile net earnings to net cash from operating activities: | |||
| Depreciation | 425 | 425 | 417 |
| Amortization of intangible assets | 1,076 | 764 | 419 |
| Change in fair value of contingent consideration liabilities | 626 | 228 | 0 |
| Stock-based compensation | 365 | 353 | 282 |
| Upfront costs and milestones related to collaborations | 470 | 280 | 280 |
| Devaluation loss related to Venezuela | 0 | 298 | 0 |
| Intangible asset impairment | 354 | 39 | 0 |
| Impacts related to U.S. tax reform | 1,242 | 0 | 0 |
| Other, net | 84 | 390 | 489 |
| Changes in operating assets and liabilities, net of acquisitions: | |||
| Accounts receivable | (391) | (71) | (1,076) |
| Inventories | 93 | (38) | (434) |
| Prepaid expenses and other assets | (118) | (393) | 511 |
| Accounts payable and other liabilities | 425 | (1,187) | 1,503 |
| Cash flows from operating activities | 9,960 | 7,041 | 7,535 |
| Cash flows from investing activities | |||
| Acquisition of businesses, net of cash acquired | 0 | (2,495) | (11,488) |
| Other acquisitions and investments | (308) | (262) | (964) |
| Acquisitions of property and equipment | (529) | (479) | (532) |
| Purchases of investment securities | (2,230) | (5,315) | (851) |
| Sales and maturities of investment securities | 2,793 | 2,359 | 899 |
| Other | 0 | 118 | 0 |
| Cash flows from investing activities | (274) | (6,074) | (12,936) |
| Cash flows from financing activities | |||
| Net change in short-term borrowings | 22 | (29) | (19) |
| Proceeds from issuance of long-term debt | 0 | 11,627 | 20,660 |
| Repayments of long-term debt and lease obligations | (25) | (6,010) | (4,018) |
| Debt issuance costs | 0 | (69) | (182) |
| Dividends paid | (4,107) | (3,717) | (3,294) |
| Purchases of treasury stock | (1,410) | (6,033) | (7,586) |
| Proceeds from the exercise of stock options | 254 | 268 | 155 |
| Payments of contingent consideration liabilities | (268) | 0 | 0 |
| Other, net | 22 | 35 | 36 |
| Cash flows from financing activities | (5,512) | (3,928) | 5,752 |
| Effect of exchange rate changes on cash and equivalents | 29 | (338) | (300) |
| Net change in cash and equivalents | 4,203 | (3,299) | 51 |
| Cash and equivalents, beginning of year | 5,100 | 8,399 | |
| Cash and equivalents, end of year | 9,303 | 5,100 | 8,399 |
| Other supplemental information | |||
| Interest paid, net of portion capitalized | 1,099 | 986 | 536 |
| Income taxes paid | 1,696 | 3,563 | 1,108 |
| Supplemental schedule of non-cash investing and financing activities | |||
| Issuance of common shares associated with acquisitions of businesses | 0 | 3,923 | 8,405 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ABBVIE INC. | ||
Ticker: ABBV Fiscal Year: 2017 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2017 10-K (Filed: Feb 16, 2018) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2017 | Dec 31, 2016 | |
| Assets | ||
| Current assets | ||
| Cash and equivalents | $ 9,303 | 5,100 |
| Short-term investments | 486 | 1,323 |
| Accounts receivable, net | 5,088 | 4,758 |
| Inventories | 1,605 | 1,444 |
| Prepaid expenses and other | 4,741 | 3,562 |
| Total current assets | 21,223 | 16,187 |
| Investments | 2,090 | 1,783 |
| Property and equipment, net | 2,803 | 2,604 |
| Intangible assets, net | 27,559 | 28,897 |
| Goodwill | 15,785 | 15,416 |
| Other assets | 1,326 | 1,212 |
| Total assets | 70,786 | 66,099 |
| Liabilities and Equity | ||
| Current liabilities | ||
| Short-term borrowings | 400 | 377 |
| Current portion of long-term debt and lease obligations | 6,015 | 25 |
| Accounts payable and accrued liabilities | 10,226 | 9,379 |
| Total current liabilities | 16,641 | 9,781 |
| Long-term debt and lease obligations | 30,953 | 36,440 |
| Deferred income taxes | 2,490 | 6,890 |
| Other long-term liabilities | 15,605 | 8,352 |
| Commitments and contingencies | ||
| Stockholders equity | ||
| Common stock, $0.01 par value, 4,000,000,000 shares authorized, 1,768,738,550 shares issued as of December 31, 2017 and 1,754,900,486 as of December 31, 2016 | 18 | 18 |
| Common stock held in treasury, at cost, 176,607,525 shares as of December 31, 2017 and 162,387,762 as of December 31, 2016 | (11,923) | (10,852) |
| Additional paid-in-capital | 14,270 | 13,678 |
| Retained earnings | 5,459 | 4,378 |
| Accumulated other comprehensive loss | (2,727) | (2,586) |
| Total stockholders equity | 5,097 | 4,636 |
| Total liabilities and equity | 70,786 | 66,099 |
| External Links | |
| ABBVIE INC. (ABBV) Fiscal Year 2017 | |
| 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 |