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: 2020 | |||
Consolidated Statements of Earnings | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 19, 2021) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Net revenues | $ 45,804 | 33,266 | 32,753 |
| Cost of products sold | 15,387 | 7,439 | 7,718 |
| Selling, general and administrative | 11,299 | 6,942 | 7,399 |
| Research and development | 6,557 | 6,407 | 10,329 |
| Acquired in-process research and development | 1,198 | 385 | 424 |
| Other operating (income) expense | 0 | (890) | 500 |
| Total operating costs and expenses | 34,441 | 20,283 | 26,370 |
| Operating earnings | 11,363 | 12,983 | 6,383 |
| Interest expense, net | 2,280 | 1,509 | 1,144 |
| Net foreign exchange loss | 71 | 42 | 24 |
| Other expense, net | 5,614 | 3,006 | 18 |
| Earnings before income tax expense | 3,398 | 8,426 | 5,197 |
| Income tax expense (benefit) | (1,224) | 544 | (490) |
| Net earnings | 4,622 | 7,882 | 5,687 |
| Net earnings attributable to noncontrolling interest | 6 | 0 | 0 |
| Net earnings attributable to AbbVie Inc. | 4,616 | 7,882 | 5,687 |
| Per share data | |||
| Basic earnings per share (in dollars per share) | 2.73 | 5.30 | 3.67 |
| Diluted earnings per share (in dollars per share) | 2.72 | 5.28 | 3.66 |
| Weighted-average basic shares outstanding (in shares) | 1,667 | 1,481 | 1,541 |
| Weighted-average diluted shares outstanding (in shares) | 1,673 | 1,484 | 1,546 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ABBVIE INC. | |||
Ticker: ABBV Fiscal Year: 2020 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 19, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Net earnings | $ 4,622 | 7,882 | 5,687 |
| Foreign currency translation adjustments, net of tax expense (benefit) of $28 in 2020, $(4) in 2019 and $(18) in 2018 | 1,511 | (98) | (391) |
| Net investment hedging activities, net of tax expense (benefit) of $(221) in 2020, $22 in 2019 and $40 in 2018 | (799) | 74 | 138 |
| Pension and post-employment benefits, net of tax expense (benefit) of $(47) in 2020, $(323) in 2019 and $35 in 2018 | (102) | (1,243) | 197 |
| Marketable security activities, net of tax expense (benefit) of $ in 2020, $ in 2019 and $ in 2018 | 0 | 10 | (10) |
| Cash flow hedging activities, net of tax expense (benefit) of $(23) in 2020, $70 in 2019 and $23 in 2018 | (131) | 141 | 313 |
| Other comprehensive income (loss) | 479 | (1,116) | 247 |
| Comprehensive income | 5,101 | 6,766 | 5,934 |
| Comprehensive income attributable to noncontrolling interest | 6 | 0 | 0 |
| Comprehensive income attributable to AbbVie Inc. | 5,095 | 6,766 | 5,934 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ABBVIE INC. | |||
Ticker: ABBV Fiscal Year: 2020 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 19, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Cash flows from operating activities | |||
| Net earnings | $ 4,622 | 7,882 | 5,687 |
| Adjustments to reconcile net earnings to net cash from operating activities: | |||
| Depreciation | 666 | 464 | 471 |
| Amortization of intangible assets | 5,805 | 1,553 | 1,294 |
| Deferred income taxes | (2,325) | 122 | (1,517) |
| Change in fair value of contingent consideration liabilities | 5,753 | 3,091 | 49 |
| Stock-based compensation | 753 | 430 | 421 |
| Upfront costs and milestones related to collaborations | 1,376 | 490 | 1,061 |
| Gain on divestitures | 0 | (330) | 0 |
| Intangible asset impairment | 0 | 1,030 | 5,070 |
| Impacts related to U.S. tax reform | 0 | 0 | 424 |
| Other, net | 832 | 43 | 76 |
| Changes in operating assets and liabilities, net of acquisitions: | |||
| Accounts receivable | (929) | (74) | (591) |
| Inventories | (40) | (231) | (226) |
| Prepaid expenses and other assets | 134 | (225) | (200) |
| Accounts payable and other liabilities | 1,514 | 97 | 734 |
| Income tax assets and liabilities, net | (573) | (1,018) | 674 |
| Cash flows from operating activities | 17,588 | 13,324 | 13,427 |
| Cash flows from investing activities | |||
| Acquisition of businesses, net of cash acquired | (38,260) | 0 | 0 |
| Other acquisitions and investments | (1,350) | (1,135) | (736) |
| Acquisitions of property and equipment | (798) | (552) | (638) |
| Purchases of investment securities | (61) | (583) | (1,792) |
| Sales and maturities of investment securities | 1,525 | 2,699 | 2,160 |
| Other, net | 1,387 | 167 | 0 |
| Cash flows from investing activities | (37,557) | 596 | (1,006) |
| Cash flows from financing activities | |||
| Net change in commercial paper borrowings | 0 | (699) | 299 |
| Proceeds from issuance of other short-term borrowings | 0 | 0 | 3,002 |
| Repayments of other short-term borrowings | 0 | (3,000) | 0 |
| Proceeds from issuance of long-term debt | 3,000 | 31,482 | 5,963 |
| Repayments of long-term debt and finance lease obligations | (5,683) | (1,536) | (6,035) |
| Debt issuance costs | (20) | (424) | (40) |
| Dividends paid | (7,716) | (6,366) | (5,580) |
| Purchases of treasury stock | (978) | (629) | (12,014) |
| Proceeds from the exercise of stock options | 209 | 8 | 73 |
| Payments of contingent consideration liabilities | (321) | (163) | (78) |
| Other, net | 8 | 35 | 14 |
| Cash flows from financing activities | (11,501) | 18,708 | (14,396) |
| Effect of exchange rate changes on cash and equivalents | (5) | 7 | (39) |
| Net change in cash and equivalents | (31,475) | 32,635 | (2,014) |
| Cash and equivalents, beginning of year | 39,924 | 7,289 | |
| Cash and equivalents, end of year | 8,449 | 39,924 | 7,289 |
| Other supplemental information | |||
| Interest paid, net of portion capitalized | 2,619 | 1,794 | 1,215 |
| Income taxes paid | 1,674 | 1,447 | |
| Income taxes received | 35 | ||
| Supplemental schedule of non-cash investing and financing activities | |||
| Issuance of common shares associated with acquisitions of businesses | 23,979 | 0 | 0 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ABBVIE INC. | ||
Ticker: ABBV Fiscal Year: 2020 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2020 10-K (Filed: Feb 19, 2021) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2020 | Dec 31, 2019 | |
| Assets | ||
| Current assets | ||
| Cash and equivalents | $ 8,449 | 39,924 |
| Short-term investments | 30 | 0 |
| Accounts receivable, net | 8,822 | 5,428 |
| Inventories | 3,310 | 1,813 |
| Prepaid expenses and other | 3,562 | 2,354 |
| Total current assets | 24,173 | 49,519 |
| Investments | 293 | 93 |
| Property and equipment, net | 5,248 | 2,962 |
| Intangible assets, net | 82,876 | 18,649 |
| Goodwill | 33,124 | 15,604 |
| Other assets | 4,851 | 2,288 |
| Total assets | 150,565 | 89,115 |
| Liabilities and Equity | ||
| Current liabilities | ||
| Short-term borrowings | 34 | 0 |
| Current portion of long-term debt and finance lease obligations | 8,468 | 3,753 |
| Accounts payable and accrued liabilities | 20,159 | 11,832 |
| Total current liabilities | 28,661 | 15,585 |
| Long-term debt and finance lease obligations | 77,554 | 62,975 |
| Deferred income taxes | 3,646 | 1,130 |
| Other long-term liabilities | 27,607 | 17,597 |
| Commitments and contingencies | ||
| Stockholders equity (deficit) | ||
| Common stock, $0.01 par value, 4,000,000,000 shares authorized, 1,792,140,764 shares issued as of December 31, 2020 and 1,781,582,608 as of December 31, 2019 | 18 | 18 |
| Common stock held in treasury, at cost, 27,007,945 shares as of December 31, 2020 and 302,671,146 as of December 31, 2019 | (2,264) | (24,504) |
| Additional paid-in capital | 17,384 | 15,193 |
| Retained earnings | 1,055 | 4,717 |
| Accumulated other comprehensive loss | (3,117) | (3,596) |
| Total stockholders' equity (deficit) | 13,076 | (8,172) |
| Noncontrolling interest | 21 | 0 |
| Total equity (deficit) | 13,097 | (8,172) |
| Total liabilities and equity | 150,565 | 89,115 |
| External Links | |
| ABBVIE INC. (ABBV) Fiscal Year 2020 | |
| 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 |