$ABBV
AbbVie Inc.

2017 Q1 Form 10-Q Financial Statement

#000155115217000016 Filed on May 05, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $6.538B $5.958B
YoY Change 9.73% 18.21%
Cost Of Revenue $1.616B $1.369B
YoY Change 18.04% 45.33%
Gross Profit $4.922B $4.589B
YoY Change 7.26% 11.98%
Gross Profit Margin 75.28% 77.02%
Selling, General & Admin $1.373B $1.355B
YoY Change 1.33% -8.01%
% of Gross Profit 27.9% 29.53%
Research & Development $1.142B $946.0M
YoY Change 20.72% 16.65%
% of Gross Profit 23.2% 20.61%
Depreciation & Amortization $103.0M $103.0M
YoY Change 0.0% -34.81%
% of Gross Profit 2.09% 2.24%
Operating Expenses $2.515B $2.301B
YoY Change 9.3% 0.74%
Operating Profit $2.407B $2.278B
YoY Change 5.66% 25.58%
Interest Expense $273.0M $215.0M
YoY Change 26.98% -174.14%
% of Operating Profit 11.34% 9.44%
Other Income/Expense, Net -$61.00M $0.00
YoY Change -100.0%
Pretax Income $2.086B $1.776B
YoY Change 17.45% 27.22%
Income Tax $375.0M $422.0M
% Of Pretax Income 17.98% 23.76%
Net Earnings $1.711B $1.354B
YoY Change 26.37% 32.49%
Net Earnings / Revenue 26.17% 22.73%
Basic Earnings Per Share $1.07 $0.83
Diluted Earnings Per Share $1.06 $0.83
COMMON SHARES
Basic Shares Outstanding 1.597B shares 1.616B shares
Diluted Shares Outstanding 1.603B shares 1.625B shares

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.248B $8.600B
YoY Change -27.35% 8.53%
Cash & Equivalents $4.740B $7.556B
Short-Term Investments $1.508B $1.044B
Other Short-Term Assets $3.195B $1.480B
YoY Change 115.88% -29.72%
Inventory $1.427B $1.789B
Prepaid Expenses
Receivables $4.677B $4.753B
Other Receivables $0.00 $0.00
Total Short-Term Assets $15.55B $16.62B
YoY Change -6.47% 7.88%
LONG-TERM ASSETS
Property, Plant & Equipment $2.612B $2.597B
YoY Change 0.58% 6.83%
Goodwill $15.49B
YoY Change
Intangibles $28.63B
YoY Change
Long-Term Investments $2.123B $387.0M
YoY Change 448.58% 316.13%
Other Assets $1.263B $1.328B
YoY Change -4.89% -24.33%
Total Long-Term Assets $50.12B $37.10B
YoY Change 35.09% 228.56%
TOTAL ASSETS
Total Short-Term Assets $15.55B $16.62B
Total Long-Term Assets $50.12B $37.10B
Total Assets $65.66B $53.72B
YoY Change 22.23% 101.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.364B $8.132B
YoY Change 2.85% 26.55%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $400.0M $400.0M
YoY Change 0.0% -29.7%
Long-Term Debt Due $25.00M $2.023B
YoY Change -98.76% -49.69%
Total Short-Term Liabilities $8.844B $10.66B
YoY Change -17.05% -3.51%
LONG-TERM LIABILITIES
Long-Term Debt $36.53B $29.49B
YoY Change 23.86% 176.05%
Other Long-Term Liabilities $8.499B $3.513B
YoY Change 141.93% -2.12%
Total Long-Term Liabilities $45.03B $33.00B
YoY Change 36.43% 131.24%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.844B $10.66B
Total Long-Term Liabilities $45.03B $33.00B
Total Liabilities $60.67B $49.08B
YoY Change 23.61% 93.81%
SHAREHOLDERS EQUITY
Retained Earnings $5.063B
YoY Change
Common Stock $13.89B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $11.43B
YoY Change
Treasury Stock Shares 171.5M shares
Shareholders Equity $4.998B $4.643B
YoY Change
Total Liabilities & Shareholders Equity $65.66B $53.72B
YoY Change 22.23% 101.21%

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income $1.711B $1.354B
YoY Change 26.37% 32.49%
Depreciation, Depletion And Amortization $103.0M $103.0M
YoY Change 0.0% -34.81%
Cash From Operating Activities $2.102B $2.128B
YoY Change -1.22% 34.26%
INVESTING ACTIVITIES
Capital Expenditures $95.00M $121.0M
YoY Change -21.49% -183.45%
Acquisitions
YoY Change
Other Investing Activities -$589.0M -$1.337B
YoY Change -55.95% 83.65%
Cash From Investing Activities -$684.0M -$1.458B
YoY Change -53.09% 67.01%
FINANCING ACTIVITIES
Cash Dividend Paid $1.027B $924.0M
YoY Change 11.15%
Common Stock Issuance & Retirement, Net $895.0M $409.0M
YoY Change 118.83%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$1.794B -$1.219B
YoY Change 47.17% 31.08%
NET CHANGE
Cash From Operating Activities $2.102B $2.128B
Cash From Investing Activities -$684.0M -$1.458B
Cash From Financing Activities -$1.794B -$1.219B
Net Change In Cash -$376.0M -$549.0M
YoY Change -31.51% 151.83%
FREE CASH FLOW
Cash From Operating Activities $2.102B $2.128B
Capital Expenditures $95.00M $121.0M
Free Cash Flow $2.007B $2.007B
YoY Change 0.0% 16.01%

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NetCashProvidedByUsedInFinancingActivities
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CY2017Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2016Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2017Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2016Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2128000000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2102000000 USD
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
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CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
1711000000 USD
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1347000000 USD
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NetIncomeLossAvailableToCommonStockholdersBasic
1702000000 USD
CY2016Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
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1347000000 USD
CY2017Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
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1702000000 USD
CY2017Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2016Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
2278000000 USD
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2016Q4 us-gaap Other Assets Noncurrent
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CY2017Q1 us-gaap Other Assets Noncurrent
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CY2016Q1 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
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CY2017Q1 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-8000000 USD
CY2016Q1 us-gaap Other Comprehensive Income Availableforsale Securities Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesTaxPortionAttributableToParent
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CY2017Q1 us-gaap Other Comprehensive Income Availableforsale Securities Tax Portion Attributable To Parent
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CY2016Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-15000000 USD
CY2017Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
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CY2016Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent
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CY2017Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent
-8000000 USD
CY2016Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
188000000 USD
CY2017Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
170000000 USD
CY2016Q1 us-gaap Other Comprehensive Income Foreign Currency Translation Adjustment Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent
41000000 USD
CY2017Q1 us-gaap Other Comprehensive Income Foreign Currency Translation Adjustment Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent
0 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
138000000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
44000000 USD
CY2016Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-62000000 USD
CY2017Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-45000000 USD
CY2016Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
0 USD
CY2017Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2017Q1 us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNetAvailableforsaleSecurities
0 USD
CY2016Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
7000000 USD
CY2017Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
9000000 USD
CY2016Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
7000000 USD
CY2017Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
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9000000 USD
CY2016Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
409000000 USD
CY2017Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
895000000 USD
CY2016Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
924000000 USD
CY2017Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
1027000000 USD
CY2016Q1 us-gaap Payments To Acquire Businesses And Interest In Affiliates
PaymentsToAcquireBusinessesAndInterestInAffiliates
28000000 USD
CY2017Q1 us-gaap Payments To Acquire Businesses And Interest In Affiliates
PaymentsToAcquireBusinessesAndInterestInAffiliates
63000000 USD
CY2016Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
1342000000 USD
CY2017Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
970000000 USD
CY2016Q1 us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
28000000 USD
CY2017Q1 us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
63000000 USD
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
121000000 USD
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
95000000 USD
CY2016Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
3562000000 USD
CY2017Q1 us-gaap Prepaid Expense And Other Assets
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3195000000 USD
CY2016Q1 us-gaap Proceeds From Payments For Other Financing Activities
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CY2017Q1 us-gaap Proceeds From Payments For Other Financing Activities
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26000000 USD
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CY2017Q1 us-gaap Proceeds From Repayments Of Short Term Debt
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23000000 USD
CY2016Q1 us-gaap Proceeds From Sale Maturity And Collections Of Investments
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33000000 USD
CY2017Q1 us-gaap Proceeds From Sale Maturity And Collections Of Investments
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444000000 USD
CY2016Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
77000000 USD
CY2017Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
85000000 USD
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
7526000000 USD
CY2017Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
7596000000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2604000000 USD
CY2017Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2612000000 USD
CY2016Q1 us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
0 USD
CY2017Q1 us-gaap Repayments Of Long Term Debt And Capital Securities
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6000000 USD
CY2016Q1 us-gaap Research And Development Asset Acquired Other Than Through Business Combination Written Off
ResearchAndDevelopmentAssetAcquiredOtherThanThroughBusinessCombinationWrittenOff
10000000 USD
CY2017Q1 us-gaap Research And Development Asset Acquired Other Than Through Business Combination Written Off
ResearchAndDevelopmentAssetAcquiredOtherThanThroughBusinessCombinationWrittenOff
0 USD
CY2017Q1 us-gaap Research And Development Asset Acquired Other Than Through Business Combination Written Off
ResearchAndDevelopmentAssetAcquiredOtherThanThroughBusinessCombinationWrittenOff
0 USD
CY2016Q1 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
946000000 USD
CY2017Q1 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
1135000000 USD
CY2016Q1 us-gaap Restructuring Charges
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3000000 USD
CY2017Q1 us-gaap Restructuring Charges
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16000000 USD
CY2016Q4 us-gaap Restructuring Reserve
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87000000 USD
CY2017Q1 us-gaap Restructuring Reserve
RestructuringReserve
73000000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
4378000000 USD
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
5063000000 USD
CY2016Q1 us-gaap Revenues
Revenues
5958000000 USD
CY2017Q1 us-gaap Revenues
Revenues
6538000000 USD
CY2016Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1355000000 USD
CY2017Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
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CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
138000000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
141000000 USD
CY2016Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
377000000 USD
CY2017Q1 us-gaap Short Term Borrowings
ShortTermBorrowings
400000000 USD
CY2016Q4 us-gaap Short Term Investments
ShortTermInvestments
1323000000 USD
CY2017Q1 us-gaap Short Term Investments
ShortTermInvestments
1508000000 USD
CY2017Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
5000000000.0 USD
CY2017Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
4500000000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
4636000000 USD
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
4998000000 USD
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
162387762 shares
CY2017Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
171461810 shares
CY2017Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
7800000 shares
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
10852000000 USD
CY2017Q1 us-gaap Treasury Stock Value
TreasuryStockValue
11430000000 USD
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1625000000 shares
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1603000000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1616000000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1597000000 shares

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