AbbVie 2012 Annual Report Download - page 77
Download and view the complete annual report
Please find page 77 of the 2012 AbbVie annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67 -
68 -
69 -
70 -
71 -
72 -
73 -
74 -
75 -
76 -
77 -
78 -
79 -
80 -
81 -
82 -
83 -
84 -
85 -
86 -
87 -
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
 |
 |
Earnings per Share
The numerator for both basic and diluted earnings per common share (EPS) is net earnings
attributable to AbbVie. The denominator for basic and diluted EPS is based on the number of shares
of AbbVie common stock outstanding on the distribution date. On January 1, 2013, the distribution
date, Abbott shareholders of record as of the close of business on December 12, 2012 received one
share of AbbVie common stock for every one share of Abbott’s common stock held as of the record
date.
Basic and diluted earnings per common share and the average number of common shares outstanding
were calculated using the number of AbbVie common shares outstanding immediately following the
distribution. The same number of shares was used to calculate basic and diluted earnings per share
since no AbbVie equity awards were outstanding prior to the distribution.
years ended December 31 (in millions, except per share amounts) 2012 2011 2010
Net earnings $5,275 $3,433 $4,178
Basic and diluted earnings per common share 3.35 2.18 2.65
Basic and diluted average shares outstanding 1,577 1,577 1,577
Note 3 Supplemental Financial Information
Interest Expense, net
years ended December 31 (in millions) 2012 2011 2010
Interest and dividend income $(20) $(20) $(28)
Interest expense 104 ——
Interest expense, net $ 84 $(20) $(28)
Other (Income) Expense
Other (income) expense, net, for 2012 included income of $21 million from the resolution of a
contractual agreement and a loss of $52 million for the impairment of an equity security. Other
(income) expense, net, included losses of $29 million in 2012 and $56 million in 2011 of fair value
adjustments and accretion in the contingent consideration related to the acquisition of Solvay SA’s U.S.
pharmaceuticals business (Solvay). Other (income) expense, net, for 2012, 2011 and 2010 also included
ongoing contractual payments from Takeda associated with the conclusion of the TAP Pharmaceutical
Products Inc. joint venture in 2008.
Accounts Payable and Accrued Liabilities
as of December 31 (in millions) 2012 2011
Sales rebates $1,616 $1,537
Accounts payable 556 417
Salaries, wages and commissions 523 435
Royalty license arrangements 398 417
Government investigation — 1,509
Acquired IPR&D — 400
Other 1,718 1,166
Accounts payable and accrued liabilities $4,811 $5,881
71