AbbVie Inc. Files 8-K on Financial Operations

TL;DR

AbbVie dropped an 8-K on 4/3 detailing its financial ops and notes due thru 2031.

AI Summary

On April 3, 2024, AbbVie Inc. filed an 8-K report detailing its financial condition and results of operations. The filing includes information on various senior notes due in 2024, 2027, 2028, 2029, and 2031, indicating ongoing financial management and debt obligations.

Why It Matters

This filing provides insight into AbbVie's current financial standing and its management of various debt instruments, which can impact investor confidence and future strategic decisions.

Risk Assessment

Risk Level: low — The filing is a routine 8-K reporting financial information and does not indicate any unusual or negative events.

Key Numbers

• 2024 — Senior Notes Due (AbbVie has senior notes maturing in 2024, indicating short-term debt obligations.)
• 2027 — Senior Notes Due (AbbVie has senior notes maturing in 2027, indicating medium-term debt obligations.)
• 2028 — Senior Notes Due (AbbVie has senior notes maturing in 2028, indicating medium-term debt obligations.)
• 2029 — Senior Notes Due (AbbVie has senior notes maturing in 2029, indicating medium-term debt obligations.)
• 2031 — Senior Notes Due (AbbVie has senior notes maturing in 2031, indicating long-term debt obligations.)

Key Players & Entities

• AbbVie Inc. (company) — Filer of the 8-K report
• 1 NORTH WAUKEGAN ROAD (address) — Business and mailing address of AbbVie Inc.
• NORTH CHICAGO (city) — City of AbbVie Inc.'s headquarters
• IL (state) — State of AbbVie Inc.'s headquarters
• 60064 (zip_code) — Zip code of AbbVie Inc.'s headquarters
• 20240403 (date) — Filing date of the 8-K report

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 Par Value ABBV New York Stock Exchange
• $164 million — cquired IPR&D and milestones expense of $164 million on a pre-tax basis, representing an unf
• $0.08 — , representing an unfavorable impact of $0.08 to both GAAP diluted earnings per share
• $10.97 — quired IPR&D and milestones expense, is $10.97 - $11.17. AbbVie's first quarter 2024 a
• $11.17 — R&D and milestones expense, is $10.97 - $11.17. AbbVie's first quarter 2024 adjusted d
• $2.18 — quired IPR&D and milestones expense, is $2.18 - $2.22. Furnished as Exhibit 99.1 to
• $2.22 — PR&D and milestones expense, is $2.18 - $2.22. Furnished as Exhibit 99.1 to this Cu

Filing Documents

• abbv-20240403.htm (8-K) — 46KB
• abbv-20240331nonxgaapxex991.htm (EX-99.1) — 17KB
• 0001551152-24-000013.txt ( ) — 282KB
• abbv-20240403.xsd (EX-101.SCH) — 4KB
• abbv-20240403_def.xml (EX-101.DEF) — 20KB
• abbv-20240403_lab.xml (EX-101.LAB) — 37KB
• abbv-20240403_pre.xml (EX-101.PRE) — 21KB
• abbv-20240403_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 first quarter of 2024 are expected to include acquired IPR&D and milestones expense of $164 million on a pre-tax basis, representing an unfavorable impact of $0.08 to both GAAP diluted earnings per share and adjusted non-GAAP diluted earnings per share. Results for the quarter ended March 31, 2024 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 2024 previously announced on February 12, 2024 excluded the impact of acquired IPR&D and milestones expense that may be incurred in 2024. AbbVie's full-year 2024 adjusted diluted earnings per share guidance range, including the impact of first quarter 2024 acquired IPR&D and milestones expense, is $10.97 - $11.17. AbbVie's first quarter 2024 adjusted diluted earnings per share guidance range, including the impact of first quarter 2024 acquired IPR&D and milestones expense, is $2.18 - $2.22. Furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference is guidance for 2024 including the estimated acquired IPR&D and milestones expense incurred during the first quarter of 2024. 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 reference into future filings by Ab

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 2023 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: April 3, 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