AbbVie Inc. (ABBV) Financial Statements (2024 and earlier)

Company Profile

Business Address 1 NORTH WAUKEGAN ROAD
NORTH CHICAGO, IL 60064
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 2834 - Pharmaceutical Preparations (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments9,2299,8308,47939,9248,0619,789
Cash and cash equivalents9,2019,7468,44939,9247,2899,303
Short-term investments288430 772486
Receivables11,2549,9778,8225,4285,8722,042
Inventory, net of allowances, customer advances and progress billings3,5793,1283,3101,8131,6051,605
Inventory3,5793,1283,3101,8131,6051,605
Other undisclosed current assets4,4014,9933,5622,3541,4077,787
Total current assets:28,46327,92824,17349,51916,94521,223
Noncurrent Assets
Property, plant and equipment4,9355,1105,2482,9622,8832,803
Long-term investments and receivables241277293931,4202,090
Long-term investments241277293931,4202,090
Intangible assets, net (including goodwill)99,595108,330116,00034,25336,89643,344
Goodwill32,15632,37933,12415,60415,66315,785
Intangible assets, net (excluding goodwill)67,43975,95182,87618,64921,23327,559
Other noncurrent assets5,5714,8844,8512,2881,2081,326
Total noncurrent assets:110,342118,601126,39239,59642,40749,563
TOTAL ASSETS:138,805146,529150,56589,11559,35270,786
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:25,40222,69920,15911,83211,93110,226
Interest and dividends payable2,5432,3351,7711,6071,143
Employee-related liabilities1,7851,669830787763
Accounts payable2,9342,8822,2761,4521,5461,474
Accrued liabilities10,2827,2356,6913,2954,0523,777
Other undisclosed accounts payable and accrued liabilities12,1868,2547,1884,4843,9393,069
Debt4,13612,4958,5023,7535,3086,415
Total current liabilities:29,53835,19428,66115,58517,23916,641
Noncurrent Liabilities
Long-term debt and lease obligation, including:59,13564,18977,55462,97535,00230,953
Finance lease, liability1725  
Other undisclosed long-term debt and lease obligation59,11863,45177,55462,97535,00230,953
Liabilities, other than long-term debt, including:32,84531,71031,25317,59714,49015,605
Accounts payable and accrued liabilities    3,4534,3114,675
Deferred tax liabilities, net1,0672,490
Deferred income tax liabilities2,1903,0093,646 
Liability, pension and other postretirement and postemployment benefits    2,9491,8402,740
Other liabilities30,65528,70127,6071,2221,3071,241
Operating lease, liability  713  
Business combination, contingent consideration, liability    7,2014,3064,266
Other undisclosed liabilities, other than long-term debt    2,7721,659193
Total noncurrent liabilities:91,98095,899108,80780,57249,49246,558
Total liabilities:121,518131,093137,46896,15766,73163,199
Equity
Equity, attributable to parent, including:17,25415,40813,076(8,172)(8,446)5,097
Treasury stock, value(4,594)(3,143)(2,264)(24,504)(24,108)(11,923)
Additional paid in capital19,24518,30517,38415,19314,75614,270
Accumulated other comprehensive loss(2,199)(2,899)(3,117)(3,596)(2,480)(2,727)
Retained earnings (accumulated deficit)4,7843,1271,0554,7173,3685,459
Other undisclosed equity, attributable to parent181818181818
Equity, attributable to noncontrolling interest332821   
Total equity:17,28715,43613,097(8,172)(8,446)5,097
Other undisclosed liabilities and equity    1,1301,0672,490
TOTAL LIABILITIES AND EQUITY:138,805146,529150,56589,11559,35270,786

Income Statement (P&L) ($ in millions)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues58,05456,19745,80433,26632,75328,216
Revenue, net28,216
Cost of revenue(17,470)(17,878)(15,387)(7,439)(8,218)(7,040)
Cost of goods and services sold(17,414)(17,446)(15,387)(7,439)(7,718)(7,040)
Gross profit:40,58438,31930,41725,82724,53521,176
Operating expenses(22,467)(20,395)(19,054)(13,734)(18,152)(11,584)
Other operating income (expense), net(56)(432) 890(500) 
Other expenses     (500) 
Other undisclosed operating income 56432  500 
Operating income:18,11717,92411,36312,9836,3839,592
Nonoperating income (expense)(2,410)(2,512)(5,511)(2,773)162(715)
Investment income, nonoperating18639174275204146
Loss, foreign currency transaction, before tax(148)(51)(71)(42)(24)(348)
Other nonoperating expense(2,448)(2,500)(5,614)(3,006)(18)(513)
Interest and debt expense(2,230)(2,423)(2,454)(1,784)(1,348)(1,150)
Income from continuing operations before income taxes:13,47712,9893,3988,4265,1977,727
Income tax expense (benefit)(1,632)(1,440)1,224(544)490(2,418)
Income from continuing operations:11,84511,5494,6227,8825,6875,309
Income before gain (loss) on sale of properties:11,5494,6227,8825,6875,309
Net income:11,84511,5494,6227,8825,6875,309
Net loss attributable to noncontrolling interest(9)(7)(6)   
Net income attributable to parent:11,83611,5424,6167,8825,6875,309
Other undisclosed net loss available to common stockholders, basic(54)(74)(60)(40)(30)(26)
Net income available to common stockholders, diluted:11,78211,4684,5567,8425,6575,283

Comprehensive Income ($ in millions)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:11,84511,5494,6227,8825,6875,309
Other comprehensive income (loss)700218479   
Comprehensive income:12,54511,7675,1017,8825,6875,309
Comprehensive loss, net of tax, attributable to noncontrolling interest(9)(7)(6)   
Other undisclosed comprehensive income (loss), net of tax, attributable to parent    (1,116)247(141)
Comprehensive income, net of tax, attributable to parent:12,53611,7605,0956,7665,9345,168

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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