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: 2019 | |||
Consolidated Statements of Earnings | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 21, 2020) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Net revenues | $ 33,266 | 32,753 | 28,216 |
| Cost of products sold | 7,439 | 7,718 | 7,042 |
| Selling, general and administrative | 6,942 | 7,399 | 6,295 |
| Research and development | 6,407 | 10,329 | 5,007 |
| Acquired in-process research and development | 385 | 424 | 327 |
| Other operating expense (income) | (890) | 500 | 0 |
| Total operating costs and expenses | 20,283 | 26,370 | 18,671 |
| Operating earnings | 12,983 | 6,383 | 9,545 |
| Interest expense, net | 1,509 | 1,144 | 1,004 |
| Net foreign exchange loss | 42 | 24 | 348 |
| Other expense, net | 3,006 | 18 | 466 |
| Earnings before income tax | 8,426 | 5,197 | 7,727 |
| Income tax expense (benefit) | 544 | (490) | 2,418 |
| Net earnings | 7,882 | 5,687 | 5,309 |
| Per share data | |||
| Basic earnings per share (in dollars per share) | 5.30 | 3.67 | 3.31 |
| Diluted earnings per share (in dollars per share) | 5.28 | 3.66 | 3.30 |
| Weighted-average basic shares outstanding (in shares) | 1,481 | 1,541 | 1,596 |
| Weighted-average diluted shares outstanding (in shares) | 1,484 | 1,546 | 1,603 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ABBVIE INC. | |||
Ticker: ABBV Fiscal Year: 2019 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 21, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Net earnings | $ 7,882 | 5,687 | 5,309 |
| Foreign currency translation adjustments, net of tax expense (benefit) of $(4) in 2019, $(18) in 2018 and $34 in 2017 | (98) | (391) | 996 |
| Net investment hedging activities, net of tax expense (benefit) of $22 in 2019, $40 in 2018 and $(194) in 2017 | 74 | 138 | (343) |
| Pension and post-employment benefits, net of tax expense (benefit) of $(323) in 2019, $35 in 2018 and $(94) in 2017 | (1,243) | 197 | (406) |
| Marketable security activities, net of tax expense (benefit) of $ in 2019, $ in 2018 and $(8) in 2017 | 10 | (10) | (46) |
| Cash flow hedging activities, net of tax expense (benefit) of $70 in 2019, $23 in 2018 and $(26) in 2017 | 141 | 313 | (342) |
| Other comprehensive income (loss) | (1,116) | 247 | (141) |
| Comprehensive income | 6,766 | 5,934 | 5,168 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ABBVIE INC. | |||
Ticker: ABBV Fiscal Year: 2019 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 21, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Cash flows from operating activities | |||
| Net earnings | $ 7,882 | 5,687 | 5,309 |
| Adjustments to reconcile net earnings to net cash from operating activities: | |||
| Depreciation | 464 | 471 | 425 |
| Amortization of intangible assets | 1,553 | 1,294 | 1,076 |
| Change in fair value of contingent consideration liabilities | 3,091 | 49 | 626 |
| Stock-based compensation | 430 | 421 | 365 |
| Upfront costs and milestones related to collaborations | 490 | 1,061 | 470 |
| Gain on divestitures | (330) | 0 | 0 |
| Intangible asset impairment | 1,030 | 5,070 | 354 |
| Impacts related to U.S. tax reform | 0 | 424 | 1,242 |
| Other, net | 43 | 76 | 84 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (74) | (591) | (391) |
| Inventories | (231) | (226) | 93 |
| Prepaid expenses and other assets | 97 | (499) | (118) |
| Accounts payable and other liabilities | (1,121) | 190 | 425 |
| Cash flows from operating activities | 13,324 | 13,427 | 9,960 |
| Cash flows from investing activities | |||
| Acquisitions and investments | (1,135) | (736) | (308) |
| Acquisitions of property and equipment | (552) | (638) | (529) |
| Purchases of investment securities | (583) | (1,792) | (2,230) |
| Sales and maturities of investment securities | 2,699 | 2,160 | 2,793 |
| Other | 167 | 0 | 0 |
| Cash flows from investing activities | 596 | (1,006) | (274) |
| Cash flows from financing activities | |||
| Net change in commercial paper borrowings | (699) | 299 | 23 |
| Proceeds from issuance of other short-term borrowings | 0 | 3,002 | 0 |
| Repayments of other short-term borrowings | (3,000) | 0 | 0 |
| Proceeds from issuance of long-term debt | 31,482 | 5,963 | |
| Repayments of long-term debt and finance lease obligations | (1,536) | (6,035) | (25) |
| Debt issuance costs | (424) | (40) | 0 |
| Dividends paid | (6,366) | (5,580) | (4,107) |
| Purchases of treasury stock | (629) | (12,014) | (1,410) |
| Proceeds from the exercise of stock options | 8 | 73 | 254 |
| Payments of contingent consideration liabilities | (163) | (78) | (268) |
| Other, net | 35 | 14 | 21 |
| Cash flows from financing activities | 18,708 | (14,396) | (5,512) |
| Effect of exchange rate changes on cash and equivalents | 7 | (39) | 29 |
| Net change in cash and equivalents | 32,635 | (2,014) | 4,203 |
| Cash and equivalents, beginning of year | 7,289 | 9,303 | |
| Cash and equivalents, end of year | 39,924 | 7,289 | 9,303 |
| Other supplemental information | |||
| Interest paid, net of portion capitalized | 1,794 | 1,215 | 1,099 |
| Income taxes paid | 1,447 | 1,696 | |
| Income taxes received | 35 | ||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ABBVIE INC. | ||
Ticker: ABBV Fiscal Year: 2019 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2019 10-K (Filed: Feb 21, 2020) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2019 | Dec 31, 2018 | |
| Assets | ||
| Current assets | ||
| Cash and equivalents | $ 39,924 | 7,289 |
| Short-term investments | 0 | 772 |
| Accounts receivable, net | 5,428 | 5,384 |
| Inventories | 1,813 | 1,605 |
| Prepaid expenses and other | 2,354 | 1,895 |
| Total current assets | 49,519 | 16,945 |
| Investments | 93 | 1,420 |
| Property and equipment, net | 2,962 | 2,883 |
| Intangible assets, net | 18,649 | 21,233 |
| Goodwill | 15,604 | 15,663 |
| Other assets | 2,288 | 1,208 |
| Total assets | 89,115 | 59,352 |
| Liabilities and Equity | ||
| Current liabilities | ||
| Short-term borrowings | 0 | 3,699 |
| Current portion of long-term debt and finance lease obligations | 3,753 | 1,609 |
| Accounts payable and accrued liabilities | 11,832 | 11,931 |
| Total current liabilities | 15,585 | 17,239 |
| Long-term debt and finance lease obligations | 62,975 | 35,002 |
| Deferred income taxes | 1,130 | 1,067 |
| Other long-term liabilities | 17,597 | 14,490 |
| Commitments and contingencies | ||
| Stockholders equity (deficit) | ||
| Common stock, $0.01 par value, 4,000,000,000 shares authorized, 1,781,582,608 shares issued as of December 31, 2019 and 1,776,510,871 as of December 31, 2018 | 18 | 18 |
| Common stock held in treasury, at cost, 302,671,146 shares as of December 31, 2019 and 297,686,473 as of December 31, 2018 | (24,504) | (24,108) |
| Additional paid-in capital | 15,193 | 14,756 |
| Retained earnings | 4,717 | 3,368 |
| Accumulated other comprehensive loss | (3,596) | (2,480) |
| Total stockholders equity (deficit) | (8,172) | (8,446) |
| Total liabilities and equity | 89,115 | 59,352 |
| External Links | |
| ABBVIE INC. (ABBV) Fiscal Year 2019 | |
| 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 |