8-KEarnings & ResultsExhibits & Filings

ABBOTT LABORATORIES 8-K Report, Financial Results (Jul 17, 2013)

Filed July 17, 2013For Securities:ABT

Summary

Abbott Laboratories (ABT) filed an 8-K on July 17, 2013, to report its financial results for the second quarter of 2013. The filing primarily refers to an accompanying press release (Exhibit 99.1) that details these results and provides commentary on the company's performance. A key aspect of this report is Abbott's use of non-GAAP financial measures to present its earnings, which exclude certain items to offer a clearer view of ongoing operational performance. These non-GAAP measures adjust for significant factors such as costs related to the separation of its research-based pharmaceuticals business into AbbVie Inc., changes in its capital structure post-separation, cost reduction initiatives, tax adjustments, acquired research and development, milestone payments, and restructuring costs. The company emphasizes that these adjustments, including the exclusion of intangible amortization, are used internally by management for performance assessment and are provided to investors to aid in evaluating the company's core business results. Investors are advised to consider these non-GAAP figures alongside, not as a replacement for, standard GAAP financial measures.

Key Highlights

  • 1Abbott Laboratories announced its second quarter 2013 financial results on July 17, 2013.
  • 2The 8-K filing incorporates by reference a press release detailing the company's performance.
  • 3Abbott utilized non-GAAP financial measures in its earnings announcement to provide insight into ongoing operational performance.
  • 4Non-GAAP measures exclude items such as costs related to the AbbVie Inc. separation, interest expense adjustments, cost reduction initiatives, tax changes, and restructuring costs.
  • 5Intangible amortization expense was also excluded from non-GAAP reporting.
  • 6Management uses these non-GAAP measures internally to assess business performance.
  • 7Investors are cautioned to consider non-GAAP measures in conjunction with, not as a substitute for, GAAP financials.

Frequently Asked Questions

The main purpose of this 8-K filing is to announce and provide details on Abbott Laboratories' financial results for the second quarter of 2013, as communicated through an accompanying press release.

Abbott is using non-GAAP financial measures to offer investors a clearer perspective on its ongoing operational performance by excluding certain unusual, unpredictable, or non-recurring items. These exclusions help management and investors better assess the core business results.

Items excluded typically include costs associated with the separation of its pharmaceutical business into AbbVie Inc., adjustments to reflect the post-separation capital structure, cost reduction initiatives, tax law changes, acquired R&D, milestone payments, restructuring and integration costs, and intangible amortization expense.

No, investors are advised by Abbott to consider these non-GAAP financial measures in addition to, and not as a substitute for, financial measures prepared in accordance with Generally Accepted Accounting Principles (GAAP).