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 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 |
| 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 |