Abbott Laboratories Files 2023 Annual Report on Form 10-K

TL;DR

<b>Abbott Laboratories filed its 2023 10-K annual report on February 16, 2024, detailing its fiscal year-end results.</b>

AI Summary

ABBOTT LABORATORIES (ABT) filed a Annual Report (10-K) with the SEC on February 16, 2024. Abbott Laboratories reported its fiscal year 2023 results on February 16, 2024. The company's fiscal year ended on December 31, 2023. The filing is a 10-K annual report. Abbott Laboratories is incorporated in Illinois (IL). The company's principal business address is 100 Abbott Park Road, Abbott Park, IL 60064-3500.

Why It Matters

For investors and stakeholders tracking ABBOTT LABORATORIES, this filing contains several important signals. This filing provides a comprehensive overview of Abbott Laboratories' financial performance and business operations for the fiscal year 2023, crucial for investors and stakeholders to assess the company's health and future prospects. As a 10-K filing, it contains audited financial statements, risk factors, and management's discussion and analysis, offering deep insights into the company's strategic direction and potential challenges.

Risk Assessment

Risk Level: medium — ABBOTT LABORATORIES shows moderate risk based on this filing. The filing is a standard annual report (10-K) which inherently contains a broad range of information, including financial data and risk factors, necessitating a medium-level risk assessment for comprehensive review.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K filing to understand Abbott Laboratories' performance and strategic outlook for 2023.

Key Numbers

• 20231231 — Fiscal Year End (CONFORMED PERIOD OF REPORT)
• 20240216 — Filing Date (FILED AS OF DATE)
• 10-K — Form Type (FILING VALUES)
• 001-02189 — SEC File Number (FILING VALUES)

Key Players & Entities

• ABBOTT LABORATORIES (company) — FILER
• 0000001800 (company) — CENTRAL INDEX KEY
• 2834 (company) — STANDARD INDUSTRIAL CLASSIFICATION
• IL (company) — STATE OF INCORPORATION
• 100 ABBOTT PARK ROAD (company) — BUSINESS ADDRESS STREET 1
• ABBOTT PARK (company) — BUSINESS ADDRESS CITY
• IL (company) — BUSINESS ADDRESS STATE
• 60064-3500 (company) — BUSINESS ADDRESS ZIP

FAQ

Industry Context

Abbott Laboratories operates within the pharmaceutical preparations industry, a sector focused on the research, development, manufacturing, and marketing of drugs and medicines.

Regulatory Implications

The filing is subject to the regulations of the U.S. Securities and Exchange Commission (SEC), requiring adherence to specific disclosure and reporting standards for public companies.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and EPS trends.
2. Review the risk factors section for potential challenges and mitigation strategies.
3. Examine management's discussion and analysis for strategic insights and outlook.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K filing.
• 2024-02-16: Filing Date — Date Abbott Laboratories submitted its 2023 10-K to the SEC.

Year-Over-Year Comparison

This is the initial extraction of the 2023 10-K filing, so a comparison to a previous filing is not yet available from this data.

Filing Documents

• abt-20231231.htm (10-K) — 2612KB
• exhibit105_1986managementi.htm (EX-10.5) — 109KB
• exhibit106_1998performance.htm (EX-10.6) — 19KB
• exhibit109_2017incentivest.htm (EX-10.9) — 122KB
• exhibit1065_2024revolvingc.htm (EX-10.65) — 644KB
• exhibit21subsidiaries1.htm (EX-21) — 367KB
• exhibit23eyconsent.htm (EX-23) — 6KB
• abt-20231231x10kexx311.htm (EX-31.1) — 10KB
• abt-20231231x10kexx312.htm (EX-31.2) — 10KB
• abt-20231231x10kexx321.htm (EX-32.1) — 5KB
• abt-20231231x10kexx322.htm (EX-32.2) — 5KB
• exhibit97_abbottlaboratori.htm (EX-97) — 26KB
• 0001628280-24-005348.txt (&nbsp;) — 15343KB
• abt-20231231.xsd (EX-101.SCH) — 80KB
• abt-20231231_cal.xml (EX-101.CAL) — 115KB
• abt-20231231_def.xml (EX-101.DEF) — 498KB
• abt-20231231_lab.xml (EX-101.LAB) — 1074KB
• abt-20231231_pre.xml (EX-101.PRE) — 729KB
• abt-20231231_htm.xml (XML) — 2602KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 9 Item 1B. Unresolved Staff Comments 15

Cybersecurit y

Item 1C. Cybersecurit y 15 Item 2.

Properties

Properties 17 Item 3.

Legal Proceedings

Legal Proceedings 18 Item 4. Mine Safety Disclosures 18 PART II. Item 5. Market for Registrant's Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities 21 Item 6. [Reserved] 21 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 39 Item 8. Consolidated Financial Statements and Supplementary Data 41 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 80 Item 9A.

Controls and Procedures

Controls and Procedures 80 Item 9B. Other Information 80 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 80 PART III. Item 10. Directors, Executive Officers and Corporate Governance 81 Item 11.

Executive Compensation

Executive Compensation 81 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters 81 Item 13. Certain Relationships and Related Transactions, and Director Independence 82 Item 14. Principal Accountant Fees and Services 82 PART IV. Item 15. Exhibit and Financial Statement Schedules 83 Item 16. Form 10-K Summary 90

Signatures

Signatures 91 Table of Contents PART I

BUSINESS

ITEM 1. BUSINESS GENERAL DEVELOPMENT OF BUSINESS Abbott Laboratories is an Illinois corporation, incorporated in 1900. Abbott's* principal business is the discovery, development, manufacture, and sale of a broad and diversified line of health care products. NARRATIVE DESCRIPTION OF BUSINESS Abbott has four reportable segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. Established Pharmaceutical Products These products include a broad line of branded generic pharmaceuticals manufactured worldwide and marketed and sold outside the United States in emerging markets. These products are generally sold directly to wholesalers, distributors, government agencies, health care facilities, pharmacies, and independent retailers from Abbott-owned distribution centers or public warehouses, depending on the market served. Certain products are co-marketed or co-promoted with, or licensed from, other companies. The principal products included in the broad therapeutic area portfolios of the Established Pharmaceutical Products segment are: gastroenterology products, including Creon, for the treatment of pancreatic exocrine insufficiency associated with several underlying conditions, including cystic fibrosis and chronic pancreatitis; Duspatal and Dicetel, for the treatment of irritable bowel syndrome or biliary spasm; Heptral, Transmetil, and Samyr, for the treatment of intrahepatic cholestasis (associated with liver disease) or depressive symptoms; and Duphalac, for regulation of the physiological rhythm of the colon; women's health products, including Duphaston, for the treatment of many different gynecological disorders; and Femoston, a hormone replacement therapy for postmenopausal women; cardiovascular and metabolic products, including Lipanthyl and TriCor, for the treatment of dyslipidemia; Teveten and Teveten Plus, for the treatment of essential hypertension, and Physiotens, for the treatment of hypertension;

View Full Filing

View this 10-K filing on SEC EDGAR