AbbVie Inc. (ABBV)

Income Statement

Difficulty: Beginner

The income statement presents information on the financial results of a company’s business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

AbbVie Inc., Consolidated Income Statement

USD $ in millions

	12 months ended	Dec 31, 2018		Dec 31, 2017		Dec 31, 2016		Dec 31, 2015		Dec 31, 2014
	Net revenues
	Cost of products sold
	Gross margin
	Selling, general and administrative
	Research and development
	Acquired in-process research and development
	Other expense
	Operating earnings
	Interest expense
	Interest income
	Interest expense, net
	Net foreign exchange loss
	Other income (expense), net
	Earnings before income taxes
	Income tax (expense) benefit
	Net earnings

Based on: 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-17), 10-K (filing date: 2016-02-19), 10-K (filing date: 2015-02-20).

Item	Description	The company
Net revenues	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	AbbVie Inc.’s net revenues increased from 2016 to 2017 and from 2017 to 2018.
Operating earnings	The net result for the period of deducting operating expenses from operating revenues.	AbbVie Inc.’s operating earnings increased from 2016 to 2017 but then declined significantly from 2017 to 2018.
Earnings before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	AbbVie Inc.’s earnings before income taxes declined from 2016 to 2017 and from 2017 to 2018.
Net earnings	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	AbbVie Inc.’s net earnings declined from 2016 to 2017 but then increased from 2017 to 2018 not reaching 2016 level.

	AbbVie Inc.	Other companies (not purchased previously)
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Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis
Financial Reporting Quality

	All companies
Financial Statements
Common-Size Financial Statements
Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis
Financial Reporting Quality