Alcon Inc. Files 20-F Report for Fiscal Year 2023

Ticker: ALC · Form: 20-F · Filed: Feb 27, 2024 · CIK: 1167379

Sentiment: neutral

Topics: Alcon Inc., 20-F Filing, Fiscal Year 2023, Financial Report, Ophthalmic Goods

TL;DR

<b>Alcon Inc. has submitted its 20-F annual report for FY2023, detailing financial statements and reserves.</b>

AI Summary

ALCON INC (ALC) filed a Foreign Annual Report (20-F) with the SEC on February 27, 2024. Alcon Inc. filed its annual 20-F report on February 27, 2024, covering the fiscal year ending December 31, 2023. The filing includes financial data for the fiscal years 2021, 2022, and 2023. Key financial statement components such as Issued Capital, Other Reserves, and Reserve of Gains and Losses from Investments in Equity Instruments are detailed. The report provides information on various reserve accounts including Remeasurements of Defined Benefit Plans and Exchange Differences on Translation. Alcon Inc. is categorized under the SIC code 3851 for Ophthalmic Goods.

Why It Matters

For investors and stakeholders tracking ALCON INC, this filing contains several important signals. This 20-F filing provides a comprehensive overview of Alcon's financial position and performance for the fiscal year 2023, crucial for investors to assess the company's health and future prospects. The detailed breakdown of reserves and financial instruments offers insights into the company's risk management and investment strategies, which can impact shareholder value.

Risk Assessment

Risk Level: low — ALCON INC shows low risk based on this filing. The filing is a standard annual report (20-F) and does not contain immediate, significant negative news or disclosures that would elevate the risk level.

Analyst Insight

Investors should review the detailed financial statements and risk factors within the 20-F to understand Alcon's performance and potential challenges for 2024.

Key Numbers

Key Players & Entities

FAQ

When did ALCON INC file this 20-F?

ALCON INC filed this Foreign Annual Report (20-F) with the SEC on February 27, 2024.

What is a 20-F filing?

A 20-F is a annual report for foreign private issuers, equivalent to a 10-K but following international reporting standards. This particular 20-F was filed by ALCON INC (ALC).

Where can I read the original 20-F filing from ALCON INC?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by ALCON INC.

What are the key takeaways from ALCON INC's 20-F?

ALCON INC filed this 20-F on February 27, 2024. Key takeaways: Alcon Inc. filed its annual 20-F report on February 27, 2024, covering the fiscal year ending December 31, 2023.. The filing includes financial data for the fiscal years 2021, 2022, and 2023.. Key financial statement components such as Issued Capital, Other Reserves, and Reserve of Gains and Losses from Investments in Equity Instruments are detailed..

Is ALCON INC a risky investment based on this filing?

Based on this 20-F, ALCON INC presents a relatively low-risk profile. The filing is a standard annual report (20-F) and does not contain immediate, significant negative news or disclosures that would elevate the risk level.

What should investors do after reading ALCON INC's 20-F?

Investors should review the detailed financial statements and risk factors within the 20-F to understand Alcon's performance and potential challenges for 2024. The overall sentiment from this filing is neutral.

How does ALCON INC compare to its industry peers?

Alcon Inc. operates in the Ophthalmic Goods industry, focusing on products for eye care.

Are there regulatory concerns for ALCON INC?

As a foreign private issuer, Alcon Inc. files an annual 20-F report with the SEC, which is a comprehensive disclosure document.

Industry Context

Alcon Inc. operates in the Ophthalmic Goods industry, focusing on products for eye care.

Regulatory Implications

As a foreign private issuer, Alcon Inc. files an annual 20-F report with the SEC, which is a comprehensive disclosure document.

What Investors Should Do

  1. Review Alcon's detailed financial statements for FY2023.
  2. Analyze the breakdown of reserves and equity instruments for investment insights.
  3. Compare FY2023 performance against previous years (2021, 2022) using the provided data.

Key Dates

Year-Over-Year Comparison

This filing represents the annual 20-F report for the fiscal year 2023, providing updated financial information compared to previous filings.

Filing Stats: 4,437 words · 18 min read · ~15 pages · Grade level 16.1 · Accepted 2024-02-27 16:38:27

Filing Documents

Identity of Directors, Senior Management and Advisers 4

Item 1. Identity of Directors, Senior Management and Advisers 4

Offer Statistics and Expected Timetable 5

Item 2. Offer Statistics and Expected Timetable 5

Key Information 6

Item 3. Key Information 6

Information on the Company 26

Item 4. Information on the Company 26

Unresolved Staff Comments 52

Item 4A. Unresolved Staff Comments 52

Operating and Financial Review and Prospects 53

Item 5. Operating and Financial Review and Prospects 53

Directors, Senior Management and Employees 78

Item 6. Directors, Senior Management and Employees 78

Major Shareholders and Related Party Transactions 140

Item 7. Major Shareholders and Related Party Transactions 140

Financial Information 141

Item 8. Financial Information 141

The Offer and Listing 142

Item 9. The Offer and Listing 142

Additional Information 143

Item 10. Additional Information 143

Quantitative and Qualitative Disclosures About Market Risk 152

Item 11. Quantitative and Qualitative Disclosures About Market Risk 152

Description of Securities Other than Equity Securities 153

Item 12. Description of Securities Other than Equity Securities 153 PART II

Defaults, Dividend Arrearages and Delinquencies 154

Item 13. Defaults, Dividend Arrearages and Delinquencies 154

Material Modifications to the Rights of Security Holders and Use of Proceeds 155

Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds 155

Controls and Procedures 156

Item 15. Controls and Procedures 156

Audit Committee Financial Expert 157

Item 16A. Audit Committee Financial Expert 157

Code of Ethics 157

Item 16B. Code of Ethics 157

Principal Accountant Fees and Services 157

Item 16C. Principal Accountant Fees and Services 157

Exemptions from the Listing Standards for Audit Committees 158

Item 16D. Exemptions from the Listing Standards for Audit Committees 158

Purchases of Equity Securities by the Issuer and Affiliated Purchasers 158

Item 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers 158

Change in Registrant's Certifying Accountant 159

Item 16F. Change in Registrant's Certifying Accountant 159

Corporate Governance 159

Item 16G. Corporate Governance 159

Mine Safety Disclosure 159

Item 16H. Mine Safety Disclosure 159

Disclosure regarding Foreign Jurisdictions that Prevent Inspections 159

Item 16I. Disclosure regarding Foreign Jurisdictions that Prevent Inspections 159

Insider Trading Policies 159

Item 16J. Insider Trading Policies 159

Cybersecurity 159

Item 16K. Cybersecurity 159 PART III

Financial Statements 162

Item 17. Financial Statements 162

Financial Statements 162

Item 18. Financial Statements 162

Exhibits 163

Item 19. Exhibits 163 Consolidated Financial Statements of Alcon Inc. F-1 INTRODUCTION AND USE OF CERTAIN TERMS Alcon Inc. publishes Consolidated Financial Statements expressed in US dollars. Our Consolidated Financial Statements responsive to Item 18 of this Annual Report filed on Form 20-F with the US Securities and Exchange Commission (the "Annual Report") are prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB"). "Item 5. Operating and Financial Review and Prospects", together with "Item 4.B. Business Overview" and "Item 6.D. Employees", constitute the Operating and Financial Review ("Rapport annuel"), as defined by the Swiss Code of Obligations. Unless the context requires otherwise, the words "we", "our", "us", "Alcon", "Company" and similar words or phrases in this Annual Report refer to Alcon Inc. and its consolidated subsidiaries. The words "Novartis" and "Novartis Group" refer to Novartis AG and its consolidated affiliates. In this Annual Report, references to the "eye care market" are to the Surgical and Vision Care markets in which we participate, including the sale of ophthalmic surgical devices, contact lenses and ocular health products, but not including the sale of spectacles and prescription ophthalmic pharmaceutical products other than glaucoma pharmaceutical products; references to "United States dollars", "US dollars", "USD" or "$" are to the lawful currency of the United States of America, and references to "CHF" are to Swiss francs, the lawful currency of Switzerland; references to "International" are to the entire world except the United States of America, unless the context otherwise requires; references to "associates" are to our employees; references to the "SEC" are to the US Securities and Exchange Commission; references to the "FDA" are to the US Food and Drug Administration; references to "EMA" are to the European Medicines Agency, an age

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS 1.A. DIRECTORS AND SENIOR MANAGEMENT Not Applicable. 1.B. ADVISERS Not Applicable. 1.C. AUDITORS Not Applicable. 4

OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not Applicable. 5

KEY INFORMATION

ITEM 3. KEY INFORMATION 3.A. [RESERVED] 3.B. CAPITALIZATION AND INDEBTEDNESS Not Applicable. 3.C. REASONS FOR THE OFFER AND USE OF PROCEEDS Not Applicable. 6 3.D. RISK FACTORS You should carefully consider the risks described below, together with all of the other information included in this Annual Report, in evaluating Alcon and our securities. The following risk factors could adversely affect our business, financial condition and results of operations and the price of our securities. Risks Related to Our Business Generally Significant cybersecurity breaches could disrupt business operations, result in the loss of critical and confidential information and adversely impact our reputation and results of operations. We are heavily dependent on critical, complex and interdependent information technology systems, including internet-based systems, to support our business processes. We are also increasingly seeking to develop or acquire technology-based products to improve patient welfare in a variety of ways, which could also result in us gathering personal information about patients and others electronically. The size and complexity of our information technology systems, and, in some instances, their age, make them potentially vulnerable to external or internal security incidents, breakdowns, malicious intrusions, cybercrimes, including state-sponsored cybercrimes, malware, misplaced or lost data, programming or human errors or other similar events. For our technology-based products that are increasingly connected to the internet, failure to update software that runs on our medical devices (whether the failure is caused by us or our customers) could increase the vulnerability of those devices to attacks by criminals, which could adversely impact a healthcare facility's operations, patient safety, data confidentiality and data integrity. Like many companies, our technology landscape has become more complex as we also rely on our third party partners to be

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