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: 2013 | |||
Consolidated Statements of Earnings | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 21, 2014) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Net sales | $ 18,790 | 18,380 | 17,444 |
| Cost of products sold | 4,581 | 4,508 | 4,639 |
| Selling, general and administrative | 5,352 | 4,989 | 5,894 |
| Research and development | 2,855 | 2,778 | 2,618 |
| Acquired in-process research and development | 338 | 288 | 673 |
| Total operating costs and expenses | 13,126 | 12,563 | 13,824 |
| Operating earnings | 5,664 | 5,817 | 3,620 |
| Interest expense (income), net | 278 | 84 | (20) |
| Net foreign exchange loss (gain) | 55 | 17 | (30) |
| Other (income) expense, net | (1) | (9) | 2 |
| Earnings before income tax expense | 5,332 | 5,725 | 3,668 |
| Income tax expense | 1,204 | 450 | 235 |
| Net earnings | 4,128 | 5,275 | 3,433 |
| Basic earnings per share (in dollars per share) | 2.58 | 3.35 | 2.18 |
| Diluted earnings per share (in dollars per share) | 2.56 | 3.35 | 2.18 |
| Cash dividends declared per common share (in dollars per share) | 2.00 [1] | 0.40 | |
| Weighted-average basic shares outstanding (in shares) | 1,589 | 1,577 [2] | 1,577 |
| Weighted-average diluted shares outstanding (in shares) | 1,604 | 1,577 | 1,577 |
| [1] On January 4, 2013, the board of directors declared a cash dividend of $0.40 per share of common stock. This dividend was declared from pre-separation earnings and was recorded as a reduction of additional paid-in capital. In addition, AbbVie declared regular quarterly cash dividends in 2013 aggregating $1.60 per share of common stock. Refer to Note 11 for information regarding cash dividends declared in 2013. | |||
| [2] On January 1, 2013, Abbott Laboratories distributed 1,577 million shares of AbbVie common stock. For periods prior to the separation, the weighted-average basic and diluted shares outstanding was based on the number of shares of AbbVie common stock outstanding on the distribution date. Refer to Note 4 for information regarding the calculation of basic and diluted earnings per common share for the year ended December 31, 2013. | |||
| External Links | |
| ABBVIE INC. (ABBV) Fiscal Year 2013 | |
| 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 |