10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ABBOTT LABORATORIES | |||
Ticker: ABT Fiscal Year: 2019 | |||
Consolidated Statement 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 Sales | $ 31,904 | 30,578 | 27,390 |
| Cost of products sold, excluding amortization of intangible assets | 13,231 | 12,706 | 12,409 |
| Amortization of intangible assets | 1,936 | 2,178 | 1,975 |
| Research and development | 2,440 | 2,300 | 2,260 |
| Selling, general and administrative | 9,765 | 9,744 | 9,182 |
| Total Operating Cost and Expenses | 27,372 | 26,928 | 25,826 |
| Operating Earnings | 4,532 | 3,650 | 1,564 |
| Interest expense | 670 | 826 | 904 |
| Interest income | (94) | (105) | (124) |
| Net foreign exchange (gain) loss | 7 | 28 | (34) |
| Debt extinguishment costs | 63 | 167 | |
| Other (income) expense, net | (191) | (139) | (1,413) |
| Earnings from Continuing Operations Before Taxes | 4,077 | 2,873 | 2,231 |
| Taxes on Earnings from Continuing Operations | 390 | 539 | 1,878 |
| Earnings from Continuing Operations | 3,687 | 2,334 | 353 |
| Net Earnings from Discontinued Operations, net of taxes | 34 | 124 | |
| Net Earnings | 3,687 | 2,368 | 477 |
| Basic Earnings Per Common Share | |||
| Continuing Operations (in dollars per share) | 2.07 | 1.32 | 0.20 |
| Discontinued Operations (in dollars per share) | 0.02 | 0.07 | |
| Net Earnings (in dollars per share) | 2.07 | 1.34 | 0.27 |
| Diluted Earnings Per Common Share | |||
| Continuing Operations (in dollars per share) | 2.06 | 1.31 | 0.20 |
| Discontinued Operations (in dollars per share) | 0.02 | 0.07 | |
| Net Earnings (in dollars per share) | 2.06 | 1.33 | 0.27 |
| Average Number of Common Shares Outstanding Used for Basic Earnings Per Common Share (in shares) | 1,768 | 1,758 | 1,740 |
| Dilutive Common Stock Options (in shares) | 13 | 12 | 9 |
| Average Number of Common Shares Outstanding Plus Dilutive Common Stock Options (in shares) | 1,781 | 1,770 | 1,749 |
| Outstanding Common Stock Options Having No Dilutive Effect (in shares) | 61 | ||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ABBOTT LABORATORIES | |||
Ticker: ABT Fiscal Year: 2019 | |||
Consolidated Statement 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 | $ 3,687 | 2,368 | 477 |
| Foreign currency translation gain (loss) adjustments | (12) | (1,460) | 1,365 |
| Net actuarial gains (losses) and prior service cost and credits and amortization of net actuarial losses and prior service cost and credits, net of taxes of $(238) in 2019, $47 in 2018 and $(61) in 2017 | (814) | 132 | (243) |
| Unrealized gains (losses) on marketable equity securities, net of taxes of $(76) in 2017 | 64 | ||
| Net (losses) gains on derivative instruments designated as cash flow hedges, net of taxes of $(17) in 2019, $50 in 2018 and $(43) in 2017 | (53) | 136 | (134) |
| Other Comprehensive Income (Loss) | (879) | (1,192) | 1,052 |
| Comprehensive Income | 2,808 | 1,176 | 1,529 |
| Supplemental Accumulated Other Comprehensive Income (Loss) Information, net of tax as of December 31: | |||
| Cumulative foreign currency translation (loss) adjustments | (4,924) | (4,912) | (3,452) |
| Net actuarial (losses) and prior service (costs) and credits | (3,540) | (2,726) | (2,521) |
| Cumulative unrealized (losses) gains on marketable equity securities | (5) | ||
| Cumulative (losses) gains on derivative instruments designated as cash flow hedges | (1) | 52 | (84) |
| Accumulated other comprehensive income (loss) | (8,465) | (7,586) | (6,062) |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ABBOTT LABORATORIES | |||
Ticker: ABT Fiscal Year: 2019 | |||
Consolidated Statement 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 Flow From (Used in) Operating Activities: | |||
| Net earnings | $ 3,687 | 2,368 | 477 |
| Adjustments to reconcile net earnings to net cash from operating activities - | |||
| Depreciation | 1,078 | 1,100 | 1,046 |
| Amortization of intangible assets | 1,936 | 2,178 | 1,975 |
| Share-based compensation | 519 | 477 | 406 |
| Amortization of inventory step-up | 32 | 907 | |
| Investing and financing losses, net | 184 | 126 | 47 |
| Loss on extinguishment of debt | 63 | 167 | |
| Amortization of bridge financing fees | 5 | ||
| Gains on sale of businesses | (1,163) | ||
| Gain on sale of Mylan N.V. shares | (45) | ||
| Trade receivables | (275) | (190) | (207) |
| Inventories | (593) | (514) | 249 |
| Prepaid expenses and other assets | (138) | 23 | 109 |
| Trade accounts payable and other liabilities | 220 | 747 | 615 |
| Income taxes | (545) | (214) | 1,149 |
| Net Cash From Operating Activities | 6,136 | 6,300 | 5,570 |
| Cash Flow From (Used in) Investing Activities: | |||
| Acquisitions of property and equipment | (1,638) | (1,394) | (1,135) |
| Acquisitions of businesses and technologies, net of cash acquired | (170) | (54) | (17,183) |
| Proceeds from business dispositions | 48 | 48 | 6,042 |
| Proceeds from the sale of Mylan N.V. shares | 2,704 | ||
| Purchases of investment securities | (103) | (131) | (210) |
| Proceeds from sales of investment securities | 21 | 73 | 129 |
| Other | 27 | 102 | 35 |
| Net Cash From (Used in) Investing Activities | (1,815) | (1,356) | (9,618) |
| Cash Flow From (Used in) Financing Activities: | |||
| Proceeds from issuance of (repayments of) short-term debt and other | (26) | (1,034) | |
| Proceeds from issuance of long-term debt and debt with maturities over 3 months | 1,842 | 4,009 | 6,742 |
| Repayments of long-term debt and debt with maturities over 3 months | (3,441) | (12,433) | (8,650) |
| Purchase of Alere preferred stock | (710) | ||
| Acquisition and contingent consideration payments related to business acquisitions | (13) | ||
| Purchases of common shares | (718) | (238) | (117) |
| Proceeds from stock options exercised | 298 | 271 | 350 |
| Dividends paid | (2,270) | (1,974) | (1,849) |
| Net Cash From (Used in) Financing Activities | (4,289) | (10,391) | (5,281) |
| Effect of exchange rate changes on cash and cash equivalents | (16) | (116) | 116 |
| Net (Decrease) Increase in Cash and Cash Equivalents | 16 | (5,563) | (9,213) |
| Cash and Cash Equivalents, Beginning of Year | 3,844 | 9,407 | |
| Cash and Cash Equivalents, End of Year | 3,860 | 3,844 | 9,407 |
| Supplemental Cash Flow Information: | |||
| Income taxes paid | 930 | 740 | 570 |
| Interest paid | 677 | 845 | 917 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ABBOTT LABORATORIES | ||
Ticker: ABT Fiscal Year: 2019 | ||
Consolidated Balance Sheet | ||
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 cash equivalents | $ 3,860 | 3,844 |
| Investments, primarily bank time deposits and U.S. treasury bills | 280 | 242 |
| Trade receivables, less allowances of - 2019: $384; 2018: $314 | 5,425 | 5,182 |
| Inventories: | ||
| Finished products | 2,784 | 2,407 |
| Work in process | 560 | 499 |
| Materials | 972 | 890 |
| Total inventories | 4,316 | 3,796 |
| Other prepaid expenses and receivables | 1,786 | 1,568 |
| Total current assets | 15,667 | 14,632 |
| Investments | 883 | 897 |
| Property and equipment, at cost: | ||
| Land | 519 | 501 |
| Buildings | 3,702 | 3,555 |
| Equipment | 11,468 | 10,756 |
| Construction in progress | 1,110 | 894 |
| Property and equipment, at cost | 16,799 | 15,706 |
| Less: accumulated depreciation and amortization | 8,761 | 8,143 |
| Net property and equipment | 8,038 | 7,563 |
| Intangible assets, net of amortization | 17,025 | 18,942 |
| Goodwill | 23,195 | 23,254 |
| Deferred income taxes and other assets | 3,079 | 1,885 |
| Total Assets | 67,887 | 67,173 |
| Liabilities and Shareholders' Investment | ||
| Current liabilities: | ||
| Short-term borrowings | 201 | 200 |
| Trade accounts payable | 3,252 | 2,975 |
| Salaries, wages and commissions | 1,237 | 1,182 |
| Other accrued liabilities | 4,035 | 3,780 |
| Dividends payable | 635 | 563 |
| Income taxes payable | 226 | 305 |
| Current portion of long-term debt | 1,277 | 7 |
| Total current liabilities | 10,863 | 9,012 |
| Long-term debt | 16,661 | 19,359 |
| Post-employment obligations and other long-term liabilities | 9,062 | 8,080 |
| Commitments and contingencies | ||
| Shareholders' investment: | ||
| Preferred shares, one dollar par value Authorized - 1,000,000 shares, none issued | ||
| Common shares, without par value Authorized - 2,400,000,000 shares, Issued at stated capital amount - Shares: 2019: 1,976,855,085; 2018: 1,971,189,465 | 23,853 | 23,512 |
| Common shares held in treasury, at cost - Shares: 2019: 214,351,838; 2018: 215,570,043 | (10,147) | (9,962) |
| Earnings employed in the business | 25,847 | 24,560 |
| Accumulated other comprehensive income (loss) | (8,465) | (7,586) |
| Total Abbott Shareholders' Investment | 31,088 | 30,524 |
| Noncontrolling interests in subsidiaries | 213 | 198 |
| Total Shareholders' Investment | 31,301 | 30,722 |
| Total Liabilities and Shareholders' Investment | 67,887 | 67,173 |
| External Links | |
| ABBOTT LABORATORIES (ABT) 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 |