Stock Analysis on Net

AbbVie Inc. (NYSE:ABBV)

Income Statement 

AbbVie Inc., consolidated income statement

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Net revenues 54,318 58,054 56,197 45,804 33,266
Cost of products sold (20,415) (17,414) (17,446) (15,387) (7,439)
Gross margin 33,903 40,640 38,751 30,417 25,827
Selling, general and administrative (12,872) (15,260) (12,349) (11,299) (6,942)
Research and development (7,675) (6,510) (7,084) (6,557) (6,407)
Acquired IPR&D and milestones (778) (697) (962) (1,198) (385)
Other operating income (expense), net 179 (56) (432) 890
Operating earnings 12,757 18,117 17,924 11,363 12,983
Interest expense (2,224) (2,230) (2,423) (2,454) (1,784)
Interest income 540 186 39 174 275
Interest expense, net (1,684) (2,044) (2,384) (2,280) (1,509)
Net foreign exchange loss (146) (148) (51) (71) (42)
Other expense, net (4,677) (2,448) (2,500) (5,614) (3,006)
Earnings before income tax expense 6,250 13,477 12,989 3,398 8,426
Income tax (expense) benefit (1,377) (1,632) (1,440) 1,224 (544)
Net earnings 4,873 11,845 11,549 4,622 7,882
Net earnings attributable to noncontrolling interest (10) (9) (7) (6)
Net earnings attributable to AbbVie Inc. 4,863 11,836 11,542 4,616 7,882

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Income statement 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. net revenues increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Operating earnings The net result for the period of deducting operating expenses from operating revenues. AbbVie Inc. operating earnings increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Earnings before income tax expense 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. earnings before income tax expense increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Net earnings attributable to AbbVie Inc. The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. AbbVie Inc. net earnings attributable to AbbVie Inc. increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.