10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||
| ||||||||||
|
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ABBVIE INC. | |||
Ticker: ABBV Fiscal Year: 2022 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 17, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Cash flows from operating activities | |||
| Net earnings | $ 11,845 | 11,549 | 4,622 |
| Adjustments to reconcile net earnings to net cash from operating activities: | |||
| Depreciation | 778 | 803 | 666 |
| Amortization of intangible assets | 7,689 | 7,718 | 5,805 |
| Deferred income taxes | (1,931) | (898) | (2,325) |
| Change in fair value of contingent consideration liabilities | 2,761 | 2,679 | 5,753 |
| Stock-based compensation | 671 | 692 | 753 |
| Acquired IPR&D and milestones | 697 | 1,124 | 1,376 |
| Other charges related to collaborations | 0 | 500 | 0 |
| Gain on divestitures | (172) | (68) | 0 |
| Non-cash litigation reserve adjustments, net of cash payments | 2,243 | 163 | (31) |
| Impairment of intangible assets | 770 | 50 | 0 |
| Other, net | (150) | (213) | 863 |
| Changes in operating assets and liabilities, net of acquisitions: | |||
| Accounts receivable | (1,455) | (1,321) | (929) |
| Inventories | (686) | (142) | (40) |
| Prepaid expenses and other assets | (264) | (197) | 134 |
| Accounts payable and other liabilities | 1,605 | 1,628 | 1,514 |
| Income tax assets and liabilities, net | 542 | (1,290) | (573) |
| Cash flows from operating activities | 24,943 | 22,777 | 17,588 |
| Cash flows from investing activities | |||
| Acquisition of businesses, net of cash acquired | (255) | (525) | (38,260) |
| Other acquisitions and investments | (539) | (1,377) | (1,350) |
| Acquisitions of property and equipment | (695) | (787) | (798) |
| Purchases of investment securities | (1,438) | (119) | (61) |
| Sales and maturities of investment securities | 1,530 | 98 | 1,525 |
| Other, net | 774 | 366 | 1,387 |
| Cash flows from investing activities | (623) | (2,344) | (37,557) |
| Cash flows from financing activities | |||
| Proceeds from issuance of long-term debt | 2,000 | 1,000 | 3,000 |
| Repayments of long-term debt and finance lease obligations | (14,433) | (9,414) | (5,683) |
| Debt issuance costs | 0 | 0 | (20) |
| Dividends paid | (10,043) | (9,261) | (7,716) |
| Purchases of treasury stock | (1,487) | (934) | (978) |
| Proceeds from the exercise of stock options | 262 | 244 | 209 |
| Payments of contingent consideration liabilities | (1,132) | (698) | (321) |
| Other, net | 30 | 24 | 8 |
| Cash flows from financing activities | (24,803) | (19,039) | (11,501) |
| Effect of exchange rate changes on cash and equivalents | (62) | (97) | (5) |
| Net change in cash and equivalents | (545) | 1,297 | (31,475) |
| Cash and equivalents, beginning of year | 9,746 | 8,449 | |
| Cash and equivalents, end of year | 9,201 | 9,746 | 8,449 |
| Other supplemental information | |||
| Interest paid, net of portion capitalized | 2,546 | 2,712 | 2,619 |
| Income taxes paid | 2,988 | 3,648 | 1,674 |
| Supplemental schedule of non-cash investing and financing activities | |||
| Issuance of common shares associated with acquisitions of businesses | 0 | 0 | 23,979 |
| External Links | |
| ABBVIE INC. (ABBV) Fiscal Year 2022 | |
| 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 |