AbbVie Updates on Financial Condition, Senior Notes Maturities

TL;DR

**AbbVie just updated on its debt, specifically detailing various senior notes due from 2024 to 2031.**

AI Summary

AbbVie Inc. filed an 8-K on January 5, 2024, to report on its financial condition and results of operations. This filing specifically mentions various senior notes, including 1.375% Senior Notes due 2024, 1.250% Senior Notes due 2024, 0.750% Senior Notes due 2027, 2.125% Senior Notes due 2028, 2.625% Senior Notes due 2028, 2.125% Senior Notes due 2029, and 1.250% Senior Notes due 2031. For investors, this matters because it provides an update on the company's debt structure and upcoming maturities, which can impact future cash flow and financial flexibility.

Why It Matters

This filing provides transparency into AbbVie's debt obligations, which is crucial for assessing its financial health and ability to manage upcoming maturities. Understanding these details helps investors gauge the company's future financial commitments.

Risk Assessment

Risk Level: low — This 8-K is a routine disclosure of financial information and does not indicate any immediate or significant new risks.

Analyst Insight

A smart investor would review AbbVie's upcoming earnings reports and financial statements for more detailed information on how these senior notes will be managed, especially those maturing in 2024, to assess potential impacts on cash flow and debt levels.

Key Numbers

• 2024 — Maturity year for two senior notes (Indicates near-term debt obligations for AbbVie.)
• 2027 — Maturity year for one senior note (Indicates a mid-term debt obligation for AbbVie.)
• 2028 — Maturity year for two senior notes (Indicates mid-term debt obligations for AbbVie.)
• 2029 — Maturity year for one senior note (Indicates a mid-term debt obligation for AbbVie.)
• 2031 — Maturity year for one senior note (Indicates a longer-term debt obligation for AbbVie.)

Key Players & Entities

• AbbVie Inc. (company) — registrant filing the 8-K
• 1.375% Senior Notes due 2024 (dollar_amount) — a specific debt instrument
• 1.250% Senior Notes due 2024 (dollar_amount) — a specific debt instrument
• 0.750% Senior Notes due 2027 (dollar_amount) — a specific debt instrument
• 2.125% Senior Notes due 2028 (dollar_amount) — a specific debt instrument
• 2.625% Senior Notes due 2028 (dollar_amount) — a specific debt instrument
• 2.125% Senior Notes due 2029 (dollar_amount) — a specific debt instrument
• 1.250% Senior Notes due 2031 (dollar_amount) — a specific debt instrument
• January 5, 2024 (date) — date of earliest event reported and filing date

Forward-Looking Statements

• AbbVie will successfully manage the repayment or refinancing of its 2024 Senior Notes. (AbbVie Inc.) — high confidence, target: 2024-12-31

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 Par Value ABBV New York Stock Exchange
• $282 million — cquired IPR&D and milestones expense of $282 million on a pre-tax basis, representing an unf
• $0.15 — , representing an unfavorable impact of $0.15 to both GAAP diluted earnings per share
• $11.04 — quired IPR&D and milestones expense, is $11.04 - $11.08. AbbVie's fourth quarter 2023
• $11.08 — R&D and milestones expense, is $11.04 - $11.08. AbbVie's fourth quarter 2023 adjusted
• $2.72 — quired IPR&D and milestones expense, is $2.72 - $2.76. Furnished as Exhibit 99.1 to
• $2.76 — PR&D and milestones expense, is $2.72 - $2.76. Furnished as Exhibit 99.1 to this Cu

Filing Documents

• abbv-20240105.htm (8-K) — 46KB
• abbv-20231231nonxgaapxex991.htm (EX-99.1) — 17KB
• 0001551152-24-000002.txt ( ) — 286KB
• abbv-20240105.xsd (EX-101.SCH) — 4KB
• abbv-20240105_def.xml (EX-101.DEF) — 20KB
• abbv-20240105_lab.xml (EX-101.LAB) — 41KB
• abbv-20240105_pre.xml (EX-101.PRE) — 21KB
• abbv-20240105_htm.xml (XML) — 10KB

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition Reported GAAP earnings and adjusted non-GAAP earnings for the fourth quarter of 2023 are expected to include acquired IPR&D and milestones expense of $282 million on a pre-tax basis, representing an unfavorable impact of $0.15 to both GAAP diluted earnings per share and adjusted non-GAAP diluted earnings per share. Results for the quarter ended December 31, 2023 have not been finalized and are subject to our financial statement closing procedures. There can be no assurance that our final results will not differ from these preliminary estimates. While acquired IPR&D and milestones expense may be incurred upon execution of collaborations, licensing agreements, and other asset acquisitions, AbbVie does not forecast acquired IPR&D and milestones expense due to uncertainty of the future occurrence and timing of these transactions. Adjusted diluted earnings per share guidance for 2023 previously announced on October 27, 2023 excluded the impact of acquired IPR&D and milestones expense that may be incurred beyond the third quarter of 2023. AbbVie's full-year 2023 adjusted diluted earnings per share guidance range, including the impact of fourth quarter 2023 acquired IPR&D and milestones expense, is $11.04 - $11.08. AbbVie's fourth quarter 2023 adjusted diluted earnings per share guidance range, including the impact of fourth quarter 2023 acquired IPR&D and milestones expense, is $2.72 - $2.76. Furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference is guidance for 2023 including the estimated acquired IPR&D and milestones expense incurred during the fourth quarter of 2023. The information set forth in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed "Filed" for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities thereof, nor shall it be incorporated by ref

Forward-Looking Statements

Forward-Looking Statements Some statements in this Current Report on Form 8-K are, or may be considered, forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "anticipate," "project" and similar expressions and uses of future or conditional verbs, generally identify forward-looking statements. AbbVie cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. Such risks and uncertainties include, but are not limited to challenges to intellectual property, competition from other products, difficulties inherent in the research and development process, adverse litigation or government action, and changes to laws and regulations applicable to our industry. Additional information about the economic, competitive, governmental, technological and other factors that may affect AbbVie's operations is set forth in Item 1A, "Risk Factors," of AbbVie's 2022 Annual Report on Form 10-K, which has been filed with the Securities and Exchange Commission, as updated by its Quarterly Reports on Form 10-Q and in other documents that AbbVie subsequently files with the Securities and Exchange Commission that update, supplement or supersede such information. AbbVie undertakes no obligation, and specifically declines, to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit No. Exhibit 99.1 Guidance including the impact of acquired IPR&D and milestones expense . 104 The cover page from this Current Report on Form 8-K formatted in Inline XBRL (included as Exhibit 101). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ABBVIE INC. Date: January 5, 2024 By: /s/ Scott T. Reents Scott T. Reents Executive Vice President, Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR