AbbVie Inc. (ABBV)

Long-term Debt and Solvency Analysis Quarterly Data

Difficulty: Beginner

Solvency ratios also known as long-term debt ratios measure a company's ability to meet long-term obligations.

AbbVie Inc., debt and solvency ratios (quarterly data)

		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	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014	Dec 31, 2013	Sep 30, 2013	Jun 30, 2013	Mar 31, 2013
	Debt to equity	10.49	7.33	5.65	6.20	7.39	7.95	5.77	6.71	6.87	8.03	6.61	5.65	11.09	8.62	3.18	2.83	3.07	3.28	4.14	4.15	5.09
	Debt to capital	0.91	0.88	0.85	0.86	0.88	0.89	0.85	0.87	0.87	0.89	0.87	0.85	0.92	0.90	0.76	0.74	0.75	0.77	0.81	0.81	0.84

Source: Based on data from AbbVie Inc. Quarterly and Annual Reports

Ratio	Description	The company
Debt-to-equity ratio	A solvency ratio calculated as total debt divided by total shareholders' equity.	AbbVie Inc.'s debt-to-equity ratio deteriorated from Q3 2017 to Q4 2017 and from Q4 2017 to Q1 2018.
Debt-to-capital ratio	A solvency ratio calculated as total debt divided by total debt plus shareholders' equity.	AbbVie Inc.'s debt-to-capital ratio deteriorated from Q3 2017 to Q4 2017 and from Q4 2017 to Q1 2018.

AbbVie Inc., debt to equity calculation (quarterly data)

	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	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014	Dec 31, 2013	Sep 30, 2013	Jun 30, 2013	Mar 31, 2013
Selected Financial Data (USD $ in millions)
Short-term borrowings	367	400	800	400	400	377	–	494	400	406	760	–	569	425	301	251	2	413	411	410	414
Current portion of long-term debt and lease obligations	6,014	6,015	3,021	3,020	25	25	26	23	2,023	2,025	8	4,007	4,021	4,021	22	20	18	18	23	22	22
Long-term debt and lease obligations, excluding current portion	30,906	30,953	33,974	33,817	36,526	36,440	37,284	37,328	29,490	29,240	31,359	27,116	10,683	10,565	14,469	14,470	14,386	14,292	14,375	14,326	14,601
Total debt	37,287	37,368	37,795	37,237	36,951	36,842	37,310	37,845	31,913	31,671	32,127	31,123	15,273	15,011	14,792	14,741	14,406	14,723	14,809	14,758	15,037
Stockholders' equity	3,553	5,097	6,687	6,009	4,998	4,636	6,469	5,640	4,643	3,945	4,863	5,504	1,377	1,742	4,645	5,218	4,697	4,492	3,577	3,558	2,957
Ratio
Debt to equity¹	10.49	7.33	5.65	6.20	7.39	7.95	5.77	6.71	6.87	8.03	6.61	5.65	11.09	8.62	3.18	2.83	3.07	3.28	4.14	4.15	5.09

Source: Based on data from AbbVie Inc. Quarterly and Annual Reports

Q1 2018 Calculations

¹ Debt to equity = Total debt ÷ Stockholders' equity
= 37,287 ÷ 3,553 = 10.49

Ratio	Description	The company
Debt-to-equity ratio	A solvency ratio calculated as total debt divided by total shareholders' equity.	AbbVie Inc.'s debt-to-equity ratio deteriorated from Q3 2017 to Q4 2017 and from Q4 2017 to Q1 2018.

AbbVie Inc., debt to capital calculation (quarterly data)

	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	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014	Dec 31, 2013	Sep 30, 2013	Jun 30, 2013	Mar 31, 2013
Selected Financial Data (USD $ in millions)
Short-term borrowings	367	400	800	400	400	377	–	494	400	406	760	–	569	425	301	251	2	413	411	410	414
Current portion of long-term debt and lease obligations	6,014	6,015	3,021	3,020	25	25	26	23	2,023	2,025	8	4,007	4,021	4,021	22	20	18	18	23	22	22
Long-term debt and lease obligations, excluding current portion	30,906	30,953	33,974	33,817	36,526	36,440	37,284	37,328	29,490	29,240	31,359	27,116	10,683	10,565	14,469	14,470	14,386	14,292	14,375	14,326	14,601
Total debt	37,287	37,368	37,795	37,237	36,951	36,842	37,310	37,845	31,913	31,671	32,127	31,123	15,273	15,011	14,792	14,741	14,406	14,723	14,809	14,758	15,037
Stockholders' equity	3,553	5,097	6,687	6,009	4,998	4,636	6,469	5,640	4,643	3,945	4,863	5,504	1,377	1,742	4,645	5,218	4,697	4,492	3,577	3,558	2,957
Total capital	40,840	42,465	44,482	43,246	41,949	41,478	43,779	43,485	36,556	35,616	36,990	36,627	16,650	16,753	19,437	19,959	19,103	19,215	18,386	18,316	17,994
Ratio
Debt to capital¹	0.91	0.88	0.85	0.86	0.88	0.89	0.85	0.87	0.87	0.89	0.87	0.85	0.92	0.90	0.76	0.74	0.75	0.77	0.81	0.81	0.84

Source: Based on data from AbbVie Inc. Quarterly and Annual Reports

Q1 2018 Calculations

¹ Debt to capital = Total debt ÷ Total capital
= 37,287 ÷ 40,840 = 0.91

Ratio	Description	The company
Debt-to-capital ratio	A solvency ratio calculated as total debt divided by total debt plus shareholders' equity.	AbbVie Inc.'s debt-to-capital ratio deteriorated from Q3 2017 to Q4 2017 and from Q4 2017 to Q1 2018.