Abbvie Inc. 10-Q Filing

Ticker: ABBV · Form: 10-Q · Filed: May 3, 2024 · CIK: 1551152

Abbvie Inc. 10-Q Filing Summary
FieldDetail
CompanyAbbvie Inc. (ABBV)
Form Type10-Q
Filed DateMay 3, 2024
Pages15
Reading Time19 min
Key Dollar Amounts$0.01
Sentimentneutral

Sentiment: neutral

FAQ

What type of filing is this?

This is a 10-Q filing submitted by Abbvie Inc. (ticker: ABBV) to the SEC on May 3, 2024.

What are the key financial figures in this filing?

Key dollar amounts include: $0.01 (ich registered Common Stock, par value $0.01 per share ABBV New York Stock Exchange).

How long is this filing?

Abbvie Inc.'s 10-Q filing is 15 pages with approximately 4,640 words. Estimated reading time is 19 minutes.

Where can I view the full 10-Q filing?

The complete filing is available on SEC EDGAR. You can also read the AI-decoded analysis with risk assessment and key highlights on ReadTheFiling.

Filing Stats: 4,640 words · 19 min read · ~15 pages · Grade level 15.4 · Accepted 2024-05-03 11:04:11

Key Financial Figures

  • $0.01 — ich registered Common Stock, par value $0.01 per share ABBV New York Stock Exchange

Filing Documents

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 1 Item 2.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 28 Item 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 37 Item 4.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 38 PART II. OTHER INFORMATION Item 1.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 39 Item 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 39 I tem 5. OTHER ITEMS 40 Item 6. EXHIBITS 41

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

ITEM 1. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA AbbVie Inc. and Subsidiaries Condensed Consolidated Statements of Earnings (unaudited) Three months ended March 31, (in millions, except per share data) 2024 2023 Net revenues $ 12,310 $ 12,225 Cost of products sold 4,094 3,986 Selling, general and administrative 3,315 3,039 Research and development 1,939 2,292 Acquired IPR&D and milestones 164 150 Other operating income — ( 10 ) Total operating costs and expenses 9,512 9,457 Operating earnings 2,798 2,768 Interest expense, net 453 454 Net foreign exchange loss 4 35 Other expense, net 586 1,804 Earnings before income tax expense 1,755 475 Income tax expense 383 234 Net earnings 1,372 241 Net earnings attributable to noncontrolling interest 3 2 Net earnings attributable to AbbVie Inc. $ 1,369 $ 239 Per share data Basic earnings per share attributable to AbbVie Inc. $ 0.77 $ 0.13 Diluted earnings per share attributable to AbbVie Inc. $ 0.77 $ 0.13 Weighted-average basic shares outstanding 1,769 1,770 Weighted-average diluted shares outstanding 1,773 1,776 The accompanying notes are an integral part of these condensed consolidated financial statements. 2024 Form 10-Q | 1 AbbVie Inc. and Subsidiaries Condensed Consolidated Statements of Comprehensive Income (unaudited) Three months ended March 31, (in millions) 2024 2023 Net earnings $ 1,372 $ 241 Foreign currency translation adjustments, net of tax expense (benefit) of $( 20 ) for the three months ended March 31, 2024 and $ 12 for the three months ended March 31, 2023 ( 396 ) 194 Net investment hedging activities, net of tax expense (benefit) of $ 57 for the three months ended March 31, 2024 and $( 60 ) for the three months ended March 31, 2023 207 ( 224 ) Pension and post-employment benefits, net of tax expense (benefit) of $ 1 for the three months ended March 31, 2024 and $ 14 for the three months ended March 31, 2023 10 38 Cash flow hedging activities, net of tax e

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