2023 Q4 Form 10-Q Financial Statement

#000155115223000045 Filed on November 06, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $14.30B $13.93B
YoY Change -5.42% -5.97%
Cost Of Revenue $5.681B $6.485B
YoY Change 37.42% 29.13%
Gross Profit $8.597B $7.442B
YoY Change -21.5% -23.98%
Gross Profit Margin 60.11% 53.44%
Selling, General & Admin $3.135B $3.372B
YoY Change -3.6% 2.06%
% of Gross Profit 36.47% 45.31%
Research & Development $1.922B $1.723B
YoY Change 7.92% 6.75%
% of Gross Profit 22.36% 23.15%
Depreciation & Amortization $2.076B $196.0M
YoY Change -3.76% 8.29%
% of Gross Profit 24.15% 2.63%
Operating Expenses $5.057B $5.095B
YoY Change 0.5% 3.6%
Operating Profit $3.540B $2.281B
YoY Change -40.19% -50.45%
Interest Expense -$427.0M $555.0M
YoY Change -17.25% -0.89%
% of Operating Profit -12.06% 24.33%
Other Income/Expense, Net -$1.556B $95.00M
YoY Change -23.01% -71.21%
Pretax Income $1.212B $1.953B
YoY Change -59.12% -55.61%
Income Tax $388.0M $172.0M
% Of Pretax Income 32.01% 8.81%
Net Earnings $822.0M $1.778B
YoY Change -66.76% -54.98%
Net Earnings / Revenue 5.75% 12.77%
Basic Earnings Per Share $0.46 $1.00
Diluted Earnings Per Share $0.46 $1.00
COMMON SHARES
Basic Shares Outstanding 1.766B shares 1.765B shares
Diluted Shares Outstanding 1.771B shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $12.82B $13.29B
YoY Change 38.87% 11.88%
Cash & Equivalents $12.81B $13.29B
Short-Term Investments $2.000M $3.000M
Other Short-Term Assets $4.932B $4.541B
YoY Change 12.07% -0.63%
Inventory $4.099B $3.981B
Prepaid Expenses
Receivables $11.16B $11.41B
Other Receivables $0.00 $0.00
Total Short-Term Assets $33.00B $33.22B
YoY Change 15.95% 9.42%
LONG-TERM ASSETS
Property, Plant & Equipment $4.989B $4.934B
YoY Change 1.09% 0.84%
Goodwill $32.29B $32.09B
YoY Change 0.43% 1.15%
Intangibles $55.61B $58.60B
YoY Change -17.54% -14.73%
Long-Term Investments $304.0M $275.0M
YoY Change 26.14% 17.02%
Other Assets $8.513B $7.094B
YoY Change 52.81% 31.81%
Total Long-Term Assets $101.7B $103.0B
YoY Change -7.82% -7.18%
TOTAL ASSETS
Total Short-Term Assets $33.00B $33.22B
Total Long-Term Assets $101.7B $103.0B
Total Assets $134.7B $136.2B
YoY Change -2.95% -3.61%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.688B $29.66B
YoY Change 25.7% 26.18%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $2.000M
YoY Change -100.0% -80.0%
Long-Term Debt Due $7.191B $5.113B
YoY Change 73.91% -44.41%
Total Short-Term Liabilities $37.84B $34.77B
YoY Change 28.11% 6.3%
LONG-TERM LIABILITIES
Long-Term Debt $52.19B $55.63B
YoY Change -11.74% -7.89%
Other Long-Term Liabilities $32.33B $31.64B
YoY Change 5.45% 4.73%
Total Long-Term Liabilities $32.33B $31.64B
YoY Change 5.45% 4.73%
TOTAL LIABILITIES
Total Short-Term Liabilities $37.84B $34.77B
Total Long-Term Liabilities $32.33B $31.64B
Total Liabilities $70.17B $66.42B
YoY Change 16.57% 5.55%
SHAREHOLDERS EQUITY
Retained Earnings -$1.000B $933.0M
YoY Change -120.9% -81.16%
Common Stock $20.18B $20.02B
YoY Change 4.86% 5.06%
Preferred Stock
YoY Change
Treasury Stock (at cost) $6.533B $6.525B
YoY Change 42.21% 42.16%
Treasury Stock Shares
Shareholders Equity $10.36B $12.09B
YoY Change
Total Liabilities & Shareholders Equity $134.7B $136.2B
YoY Change -2.95% -3.61%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $822.0M $1.778B
YoY Change -66.76% -54.98%
Depreciation, Depletion And Amortization $2.076B $196.0M
YoY Change -3.76% 8.29%
Cash From Operating Activities $4.753B $7.574B
YoY Change -36.01% -0.37%
INVESTING ACTIVITIES
Capital Expenditures $205.0M $219.0M
YoY Change -3.76% -223.73%
Acquisitions $0.00
YoY Change
Other Investing Activities -$595.0M -$150.0M
YoY Change 153.19% -110.25%
Cash From Investing Activities -$800.0M -$369.0M
YoY Change 78.57% -128.69%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.449B -2.661B
YoY Change -53.82% -51.78%
NET CHANGE
Cash From Operating Activities 4.753B 7.574B
Cash From Investing Activities -800.0M -369.0M
Cash From Financing Activities -4.449B -2.661B
Net Change In Cash -496.0M 4.544B
YoY Change -81.31% 34.84%
FREE CASH FLOW
Cash From Operating Activities $4.753B $7.574B
Capital Expenditures $205.0M $219.0M
Free Cash Flow $4.548B $7.355B
YoY Change -36.96% -5.45%

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CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
29645000000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
66527000000 usd
CY2023Q3 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
285000000 usd
CY2022Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
97084000000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
29645000000 usd
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
67439000000 usd
CY2022Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2000000000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5700000000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Fair Value Disclosure
FiniteLivedIntangibleAssetsFairValueDisclosure
1900000000 usd
us-gaap Gain Loss From Components Excluded From Assessment Of Cash Flow Hedge Effectiveness Net
GainLossFromComponentsExcludedFromAssessmentOfCashFlowHedgeEffectivenessNet
0 usd
us-gaap Gain Loss From Components Excluded From Assessment Of Fair Value Hedge Effectiveness Net
GainLossFromComponentsExcludedFromAssessmentOfFairValueHedgeEffectivenessNet
0 usd
us-gaap Gain Loss From Components Excluded From Assessment Of Cash Flow Hedge Effectiveness Net
GainLossFromComponentsExcludedFromAssessmentOfCashFlowHedgeEffectivenessNet
0 usd
us-gaap Gain Loss From Components Excluded From Assessment Of Fair Value Hedge Effectiveness Net
GainLossFromComponentsExcludedFromAssessmentOfFairValueHedgeEffectivenessNet
0 usd
CY2023Q3 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
309000000 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
163000000 usd
CY2023Q3 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
531000000 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
524000000 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3
0 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersIntoLevel3
0 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
0 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0 usd
CY2022Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
16384000000 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
-3432000000 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
-647000000 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
1142000000 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
978000000 usd
CY2023Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
18674000000 usd
CY2022Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
14556000000 usd
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
130000000 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
126000000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
622000000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
539000000 usd
CY2023Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
26000000 usd
CY2022Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
25000000 usd
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
111000000 usd
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
102000000 usd
CY2023Q3 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
104000000 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
101000000 usd
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
511000000 usd
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
437000000 usd
CY2023Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
4800000000 usd
CY2023Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.09
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.20
CY2022Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.10
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.11
CY2023Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2022Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023Q3 us-gaap Decrease In Unrecognized Tax Benefits Is Reasonably Possible
DecreaseInUnrecognizedTaxBenefitsIsReasonablyPossible
620000000 usd
CY2023Q3 us-gaap Revenues
Revenues
13927000000 usd
CY2022Q3 us-gaap Revenues
Revenues
14812000000 usd
us-gaap Revenues
Revenues
40017000000 usd
us-gaap Revenues
Revenues
42933000000 usd
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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abbv-20230930.htm Edgar Link pending
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abbv-20230930_cal.xml Edgar Link unprocessable
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