Stock Analysis on Net
Stock Analysis on Net

AbbVie Inc. (NYSE:ABBV)

Cash Flow Statement
Quarterly Data

Beginner level

The cash flow statement provides information about a company’s cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company’s balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

AbbVie Inc., consolidated cash flow statement (quarterly data)

US$ in millions

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3 months ended: Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Net earnings (loss) (739) 3,010  2,801  1,884  741  2,456  (1,826) 2,747  1,983  2,783  52  1,631  1,915  1,711  1,391  1,598  1,610  1,354  1,517  1,239  1,366  1,022 
Depreciation 149  115  118  114  114  118  122  115  119  115  101  111  110  103  118  96  108  103  121  102  104  90 
Amortization of intangible assets 1,406  444  391  389  388  385  320  320  324  330  268  268  269  271  210  208  181  165  140  125  86  68 
Deferred income taxes (257) —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Change in fair value of contingent consideration liabilities 809  72  438  180  2,304  169  (383) 95  485  (148) 79  401  61  85  85  102  41  —  —  —  —  — 
Stock-based compensation 236  219  79  75  87  189  70  75  85  191  77  71  76  141  75  69  71  138  53  55  55  119 
Upfront costs and milestones related to collaborations 903  40  149  20  126  195  350  55  555  101  385  32  25  28  50  80  125  25  —  130  23  127 
Gain on divestitures —  —  (330) —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Devaluation loss related to Venezuela —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  298  —  —  —  — 
Intangible asset impairment —  —  —  1,030  —  —  5,070  —  —  —  354  —  —  —  39  —  —  —  —  —  —  — 
Impacts related to U.S. tax reform —  —  —  —  —  —  424  —  —  —  1,242  —  —  —  —  —  —  —  —  —  —  — 
Other, net 433  (49) 102  23  (33) (347) 305  17  101  157  (207) 89  45  64  252  12  62  120  (26) 146  249 
Accounts receivable 482  (1,025) 133  (111) 220  (316) 215  (1) (124) (681) (228) (133) (34) 58  65  (275) 81  (234) (254) (44) (544)
Inventories (197) (107) 170  (113) (160) (128) 141  (176) (120) (71) 212  (120) (70) 71  (66) 28  (19) 19  12  (286) (85) (75)
Prepaid expenses and other assets 259  (19) (86) 280  15  (112) (73) 120  (279) (267) (96) 106  (75) (53) (271) 20  17  (159) 59  151  (40) 341 
Accounts payable and other liabilities (599) 1,065  (539) 705  (1,381) 94  (691) 869  (179) 191  (19) 974  (264) (266) (212) (1,064) 47  42  175  919  221  188 
Income tax assets and liabilities, net 204  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Changes in operating assets and liabilities, net of acquisitions 149  (86) (322) 761  (1,306) (462) (408) 812  (702) (828) (131) 964  (542) (282) (491) (951) (230) (17) 12  530  52  (90)
Adjustments to reconcile net earnings (loss) to net cash from operating activities 3,828  805  474  2,671  1,736  561  5,218  1,777  883  (138) 2,532  1,640  88  391  150  (144) 308  774  446  916  466  563 
Cash flows from operating activities 3,089  3,815  3,275  4,555  2,477  3,017  3,392  4,524  2,866  2,645  2,584  3,271  2,003  2,102  1,541  1,454  1,918  2,128  1,963  2,155  1,832  1,585 
Acquisitions of businesses, net of cash acquired (38,138) —  —  —  —  —  —  —  —  —  —  —  —  —  (18) (22) (2,455) —  —  —  (11,488) — 
Other acquisitions and investments (180) (12) (659) (36) (120) (320) (195) (140) (29) (372) (128) (80) (37) (63) (90) (40) (104) (28) (170) —  (58) (736)
Acquisitions of property and equipment (177) (125) (163) (154) (128) (107) (123) (282) (114) (119) (182) (126) (126) (95) (114) (113) (131) (121) (145) (127) (115) (145)
Purchases of investment securities (19) (13) (4) (21) (364) (194) (211) (944) (370) (267) (392) (447) (421) (970) (795) (500) (2,678) (1,342) —  —  (851) — 
Sales and maturities of investment securities 1,403  26  44  1,589  472  594  246  403  1,200  311  903  544  902  444  780  476  1,070  33  18  872 
Other, net 1,459  (5) 167  —  —  —  —  —  —  —  —  —  —  —  118  —  —  —  —  —  —  — 
Cash flows from investing activities (35,652) (129) (615) 1,378  (140) (27) (283) (963) 687  (447) 201  (109) 318  (684) (119) (199) (4,298) (1,458) (297) 745  (12,511) (873)
Net change in commercial paper borrowings —  —  —  (306) (193) (200) 699  (511) 144  (33) (401) 400  —  23  377  (494) 94  (6) (354) 760  (569) 144 
Proceeds from issuance of other short-term borrowings —  —  —  —  —  —  —  3,000  —  —  —  —  —  —  —  —  —  —  —  —  — 
Repayments of other short-term borrowings —  —  —  —  —  (3,000) —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Proceeds from issuance of long-term debt 3,000  —  29,948  1,534  —  —  —  5,963  —  —  —  —  —  —  3,856  —  7,771  —  4,000  16,655  — 
Repayments of long-term debt and finance lease obligations (3,763) —  (1,531) (1) (4) —  (1,014) (2,008) (3,006) (7) (7) (5) (7) (6) (4,004) (1) (2,005) —  (4,003) (4) (11) — 
Debt issuance costs (20) —  (176) (77) (171) —  (6) (34) —  —  —  —  —  —  (17) —  (52) —  (3) —  (120) (59)
Dividends paid (1,752) (1,763) (1,595) (1,591) (1,592) (1,588) (1,451) (1,461) (1,531) (1,137) (1,030) (1,026) (1,024) (1,027) (933) (933) (927) (924) (840) (850) (818) (786)
Purchases of treasury stock (19) (643) (2) (4) (3) (620) (2,058) (1,009) (7,516) (1,431) (505) (5) (5) (895) (1,824) (3,803) (409) (1,225) (998) (5,002) (342)
Proceeds from the exercise of stock options 65  12  62  40  65  64  85  61  38  92  77  19  22  54  47 
Payments of contingent consideration liabilities (76) (53) (43) (12) (108) —  —  (39) (39) —  —  (268) —  —  —  —  —  —  —  —  —  — 
Other, net (5) 25  (1) 15  —  21  (2) 11  (32) 37  (25) 29  (8) 26  (18) 16  (6) 43  (25) (20) 66 
Cash flows from financing activities (2,570) (2,422) 26,602  (441) (2,070) (5,383) (3,825) 916  (8,978) (2,509) (1,928) (810) (980) (1,794) (2,502) (1,371) 1,164  (1,219) (2,431) (1,056) 10,169  (930)
Effect of exchange rate changes on cash and equivalents (46) 14  (16) (10) (9) (35) 15  —  16  (38) (13) (294) (59) (21) (224)
Net change in cash and equivalents (35,125) 1,218  29,276  5,476  275  (2,392) (726) 4,468  (5,460) (296) 857  2,358  1,348  (360) (1,118) (109) (1,229) (843) (824) 1,823  (506) (442)

Based on: 10-Q (filing date: 2020-08-04), 10-Q (filing date: 2020-05-08), 10-K (filing date: 2020-02-21), 10-Q (filing date: 2019-11-06), 10-Q (filing date: 2019-08-05), 10-Q (filing date: 2019-05-03), 10-K (filing date: 2019-02-27), 10-Q (filing date: 2018-11-07), 10-Q (filing date: 2018-08-07), 10-Q (filing date: 2018-05-04), 10-K (filing date: 2018-02-16), 10-Q (filing date: 2017-11-07), 10-Q (filing date: 2017-08-07), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-11-07), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-19), 10-Q (filing date: 2015-11-06), 10-Q (filing date: 2015-08-07), 10-Q (filing date: 2015-05-08).

Cash flow statement item Description The company
Cash flows from operating activities Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. AbbVie Inc.’s cash flows from operating activities increased from Q4 2019 to Q1 2020 but then decreased significantly from Q1 2020 to Q2 2020.
Cash flows from investing activities Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. AbbVie Inc.’s cash flows from investing activities increased from Q4 2019 to Q1 2020 but then decreased significantly from Q1 2020 to Q2 2020.
Cash flows from financing activities Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. AbbVie Inc.’s cash flows from financing activities decreased from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.