AbbVie Files 8-K on Financials and Senior Notes

TL;DR

AbbVie dropped an 8-K detailing its debt structure, including senior notes due 2027-2031.

AI Summary

On October 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 the coming years, such as those due in 2027, 2028, 2029, and 2031, with interest rates ranging from 0.750% to 2.625%.

Why It Matters

This filing provides investors with an update on AbbVie's financial structure, specifically concerning its outstanding debt obligations through various senior notes.

Risk Assessment

Risk Level: low — The filing is a routine disclosure of financial information and does not indicate any immediate or significant risks.

Key Numbers

• 2027 — Senior Notes Maturity Year (Indicates a debt maturity in the near term.)
• 2028 — Senior Notes Maturity Year (Indicates multiple debt maturities in the medium term.)
• 2029 — Senior Notes Maturity Year (Indicates a debt maturity in the medium term.)
• 2031 — Senior Notes Maturity Year (Indicates a debt maturity in the longer term.)

Key Players & Entities

• AbbVie Inc. (company) — Registrant
• October 3, 2024 (date) — Date of Report
• 0.750% (dollar_amount) — Interest rate on Senior Notes due 2027
• 2.625% (dollar_amount) — Interest rate on Senior Notes due 2028
• 2.125% (dollar_amount) — Interest rate on Senior Notes due 2029
• 1.250% (dollar_amount) — Interest rate on Senior Notes due 2031

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 Par Value ABBV New York Stock Exchange
• $82 million — cquired IPR&D and milestones expense of $82 million on a pre-tax basis, representing an unf
• $0.04 — , representing an unfavorable impact of $0.04 to both GAAP diluted earnings per share
• $10.67 — quired IPR&D and milestones expense, is $10.67 - $10.87. AbbVie's third quarter 2024 a
• $10.87 — R&D and milestones expense, is $10.67 - $10.87. AbbVie's third quarter 2024 adjusted d
• $2.88 — quired IPR&D and milestones expense, is $2.88 - $2.92. Furnished as Exhibit 99.1 to
• $2.92 — PR&D and milestones expense, is $2.88 - $2.92. Furnished as Exhibit 99.1 to this Cu

Filing Documents

• abbv-20241003.htm (8-K) — 43KB
• abbv-20240930nonxgaapxex991.htm (EX-99.1) — 17KB
• 0001551152-24-000033.txt ( ) — 266KB
• abbv-20241003.xsd (EX-101.SCH) — 4KB
• abbv-20241003_def.xml (EX-101.DEF) — 19KB
• abbv-20241003_lab.xml (EX-101.LAB) — 35KB
• abbv-20241003_pre.xml (EX-101.PRE) — 20KB
• abbv-20241003_htm.xml (XML) — 8KB

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 third quarter of 2024 are expected to include acquired IPR&D and milestones expense of $82 million on a pre-tax basis, representing an unfavorable impact of $0.04 to both GAAP diluted earnings per share and adjusted non-GAAP diluted earnings per share. Results for the quarter ended September 30, 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 August 1, 2024 excluded the impact of acquired IPR&D and milestones expense that may be incurred beyond the second quarter of 2024. AbbVie's full-year 2024 adjusted diluted earnings per share guidance range, including the impact of third quarter 2024 acquired IPR&D and milestones expense, is $10.67 - $10.87. AbbVie's third quarter 2024 adjusted diluted earnings per share guidance range, including the impact of third quarter 2024 acquired IPR&D and milestones expense, is $2.88 - $2.92. 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 third 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

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: October 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