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: 2018 | |||
Consolidated Statements of Earnings | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 27, 2019) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Net revenues | $ 32,753 | 28,216 | 25,638 |
| Cost of products sold | 7,718 | 7,042 | 5,832 |
| Selling, general and administrative | 7,399 | 6,295 | 5,881 |
| Research and development | 10,329 | 5,007 | 4,385 |
| Acquired in-process research and development | 424 | 327 | 200 |
| Other expenses | 500 | 0 | 0 |
| Total operating costs and expenses | 26,370 | 18,671 | 16,298 |
| Operating earnings | 6,383 | 9,545 | 9,340 |
| Interest expense, net | 1,144 | 1,004 | 965 |
| Net foreign exchange loss | 24 | 348 | 303 |
| Other expense, net | 18 | 466 | 188 |
| Earnings before income taxes | 5,197 | 7,727 | 7,884 |
| Income tax expense (benefit) | (490) | 2,418 | 1,931 |
| Net earnings | 5,687 | 5,309 | 5,953 |
| Per share data | |||
| Basic earnings per share (in dollars per share) | 3.67 | 3.31 | 3.65 |
| Diluted earnings per share (in dollars per share) | 3.66 | 3.30 | 3.63 |
| Weighted-average basic shares outstanding (in shares) | 1,541 | 1,596 | 1,622 |
| Weighted-average diluted shares outstanding (in shares) | 1,546 | 1,603 | 1,631 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ABBVIE INC. | |||
Ticker: ABBV Fiscal Year: 2018 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 27, 2019) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Net earnings | $ 5,687 | 5,309 | 5,953 |
| Foreign currency translation adjustments, net of tax expense (benefit) of $(18) in 2018, $34 in 2017 and $(31) in 2016 | (391) | 996 | (165) |
| Net investment hedging activities, net of tax expense (benefit) of $40 in 2018, $(194) in 2017 and $79 in 2016 | 138 | (343) | 140 |
| Pension and post-employment benefits, net of tax expense (benefit) of $35 in 2018, $(94) in 2017 and $(75) in 2016 | 197 | (406) | (135) |
| Marketable security activities, net of tax expense (benefit) of $ in 2018, $(8) in 2017 and $(11) in 2016 | (10) | (46) | (1) |
| Cash flow hedging activities, net of tax expense (benefit) of $23 in 2018, $(26) in 2017 and $18 in 2016 | 313 | (342) | 136 |
| Other comprehensive income (loss) | 247 | (141) | (25) |
| Comprehensive income | 5,934 | 5,168 | 5,928 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ABBVIE INC. | |||
Ticker: ABBV Fiscal Year: 2018 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 27, 2019) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Cash flows from operating activities | |||
| Net earnings | $ 5,687 | 5,309 | 5,953 |
| Adjustments to reconcile net earnings to net cash from operating activities: | |||
| Depreciation | 471 | 425 | 425 |
| Amortization of intangible assets | 1,294 | 1,076 | 764 |
| Change in fair value of contingent consideration liabilities | 49 | 626 | 228 |
| Stock-based compensation | 421 | 365 | 353 |
| Upfront costs and milestones related to collaborations | 1,061 | 470 | 280 |
| Devaluation loss related to Venezuela | 0 | 0 | 298 |
| Intangible asset impairment | 5,070 | 354 | 39 |
| Impacts related to U.S. tax reform | 424 | 1,242 | 0 |
| Other, net | 76 | 84 | 390 |
| Changes in operating assets and liabilities, net of acquisitions: | |||
| Accounts receivable | (591) | (391) | (71) |
| Inventories | (226) | 93 | (38) |
| Prepaid expenses and other assets | (499) | (118) | (393) |
| Accounts payable and other liabilities | 190 | 425 | (1,187) |
| Cash flows from operating activities | 13,427 | 9,960 | 7,041 |
| Cash flows from investing activities | |||
| Acquisition of businesses, net of cash acquired | (2,495) | ||
| Other acquisitions and investments | (736) | (308) | (262) |
| Acquisitions of property and equipment | (638) | (529) | (479) |
| Purchases of investment securities | (1,792) | (2,230) | (5,315) |
| Sales and maturities of investment securities | 2,160 | 2,793 | 2,359 |
| Other | 0 | 0 | 118 |
| Cash flows from investing activities | (1,006) | (274) | (6,074) |
| Cash flows from financing activities | |||
| Net change in commercial paper borrowings | 299 | 23 | (23) |
| Proceeds from issuance of other short-term borrowings | 3,002 | 0 | 0 |
| Proceeds from issuance of long-term debt | 5,963 | 11,627 | |
| Repayments of long-term debt and lease obligations | (6,035) | (25) | (6,010) |
| Debt issuance costs | (40) | 0 | (69) |
| Dividends paid | (5,580) | (4,107) | (3,717) |
| Purchases of treasury stock | (12,014) | (1,410) | (6,033) |
| Proceeds from the exercise of stock options | 73 | 254 | 268 |
| Payments of contingent consideration liabilities | (78) | (268) | 0 |
| Other, net | 14 | 21 | 29 |
| Cash flows from financing activities | (14,396) | (5,512) | (3,928) |
| Effect of exchange rate changes on cash and equivalents | (39) | 29 | (338) |
| Net change in cash and equivalents | (2,014) | 4,203 | (3,299) |
| Cash and equivalents, beginning of year | 9,303 | 5,100 | |
| Cash and equivalents, end of year | 7,289 | 9,303 | 5,100 |
| Other supplemental information | |||
| Interest paid, net of portion capitalized | 1,215 | 1,099 | 986 |
| Income taxes received | (35) | ||
| Income taxes paid | 1,696 | 3,563 | |
| Supplemental schedule of non-cash investing and financing activities | |||
| Issuance of common shares associated with acquisitions of businesses | 3,923 | ||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ABBVIE INC. | ||
Ticker: ABBV Fiscal Year: 2018 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2018 10-K (Filed: Feb 27, 2019) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2018 | Dec 31, 2017 | |
| Assets | ||
| Current assets | ||
| Cash and equivalents | $ 7,289 | 9,303 |
| Short-term investments | 772 | 486 |
| Accounts receivable, net | 5,384 | 5,088 |
| Inventories | 1,605 | 1,605 |
| Prepaid expenses and other | 1,895 | 4,741 |
| Total current assets | 16,945 | 21,223 |
| Investments | 1,420 | 2,090 |
| Property and equipment, net | 2,883 | 2,803 |
| Intangible assets, net | 21,233 | 27,559 |
| Goodwill | 15,663 | 15,785 |
| Other assets | 1,208 | 1,326 |
| Total assets | 59,352 | 70,786 |
| Liabilities and Equity | ||
| Current liabilities | ||
| Short-term borrowings | 3,699 | 400 |
| Current portion of long-term debt and lease obligations | 1,609 | 6,015 |
| Accounts payable and accrued liabilities | 11,931 | 10,226 |
| Total current liabilities | 17,239 | 16,641 |
| Long-term debt and lease obligations | 35,002 | 30,953 |
| Deferred income taxes | 1,067 | 2,490 |
| Other long-term liabilities | 14,490 | 15,605 |
| Commitments and contingencies | ||
| Stockholders equity (deficit) | ||
| Common stock, $0.01 par value, 4,000,000,000 shares authorized, 1,776,510,871 shares issued as of December 31, 2018 and 1,768,738,550 as of December 31, 2017 | 18 | 18 |
| Common stock held in treasury, at cost, 297,686,473 shares as of December 31, 2018 and 176,607,525 as of December 31, 2017 | (24,108) | (11,923) |
| Additional paid-in-capital | 14,756 | 14,270 |
| Retained earnings | 3,368 | 5,459 |
| Accumulated other comprehensive loss | (2,480) | (2,727) |
| Total stockholders equity (deficit) | (8,446) | 5,097 |
| Total liabilities and equity | 59,352 | 70,786 |
| External Links | |
| ABBVIE INC. (ABBV) Fiscal Year 2018 | |
| 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 |