AbbVie 2014 Annual Report Download - page 105
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13NOV201221352027
Note 16 Quarterly Financial Data (unaudited)
.....................................................................................................................................................................................................................................................................................................................................................
(in millions except per share data) 2014 2013
First Quarter
Net sales $4,563 $4,329
Gross margin 3,463 3,176
Net earnings 980 968
Basic earnings per share 0.61 0.61
Diluted earnings per share 0.61 0.60
Cash dividends declared per common share 0.42 0.80(a)
Second Quarter
Net sales $4,926 $4,692
Gross margin 3,813 3,638
Net earnings 1,098 1,068
Basic earnings per share 0.69 0.67
Diluted earnings per share 0.68 0.66
Cash dividends declared per common share 0.42 0.40
Third Quarter
Net sales $5,019 $4,658
Gross margin 3,925 3,566
Net earnings 506 964
Basic earnings per share 0.32 0.60
Diluted earnings per share 0.31 0.60
Cash dividends declared per common share 0.42 0.40
Fourth Quarter
Net sales $5,452 $5,111
Gross margin 4,333 3,829
Net (loss) earnings (b) (810) 1,128
Basic (loss) earnings per share (c) (0.51) 0.70
Diluted (loss) earnings per share (c) (0.51) 0.70
Cash dividends declared per common share 0.49 0.40
(a) On January 4, 2013, a cash dividend of $0.40 per share of common stock was declared from
pre-separation earnings and was recorded as a reduction of additional paid-in capital. Refer to Note 12
for additional information regarding cash dividends declared in 2013.
(b) Results for the fourth quarter of 2014 include transaction and financing-related and other costs
incurred in connection with the terminated proposed combination with Shire, a $750 million after-tax
charge related to a research and development collaboration agreement with Calico, and a $173 million
after-tax charge as a result of entering into a global collaboration with Infinity. Refer to Notes 4 and 6
for further information relating to the termination of the proposed combination with Shire and the
collaborations with Calico and Infinity, respectively.
(c) Basic loss per share for the fourth quarter of 2014 was calculated under the treasury-stock method as
it was more dilutive. Approximately 36 million common shares were excluded from the computation of
diluted (loss) per share assuming dilution because the effect would have been anti-dilutive.
2014 Form 10-K 99