8-KEarnings & ResultsExhibits & Filings

ABBOTT LABORATORIES 8-K Report, Financial Results (Oct 16, 2013)

Filed October 16, 2013For Securities:ABT

Summary

Abbott Laboratories (ABT) filed an 8-K on October 16, 2013, to report its third-quarter 2013 financial results. The filing primarily serves to furnish a press release (Exhibit 99.1) detailing these results. Investors should note that Abbott utilized non-GAAP financial measures in its reporting, which exclude certain items such as cost reduction initiatives, philanthropic contributions, separation costs related to AbbVie, interest expense adjustments, tax expense adjustments, litigation reserves, and intangible amortization. The company stated that these non-GAAP measures are presented to offer investors a clearer view of ongoing business performance and are used internally by management for assessment. However, Abbott cautions investors to consider these non-GAAP figures alongside, and not as a replacement for, standard GAAP financial measures.

Key Highlights

  • 1Abbott Laboratories announced its third-quarter 2013 financial results via an 8-K filing.
  • 2The filing furnishes a press release (Exhibit 99.1) containing the detailed financial results.
  • 3Abbott reported using non-GAAP financial measures in its earnings release.
  • 4Non-GAAP adjustments include items like cost reduction initiatives, philanthropic contributions, and AbbVie separation-related costs.
  • 5Intangible amortization expense was also excluded in non-GAAP reporting for greater visibility on ongoing operations.
  • 6The company highlighted that management uses these non-GAAP measures internally to assess performance.
  • 7Abbott advised investors to consider non-GAAP measures in conjunction with, not as a substitute for, GAAP financial measures.

Frequently Asked Questions

The primary purpose of this 8-K filing is to officially report Abbott Laboratories' financial results for the third quarter of 2013. It includes a press release that provides the details of these results.

Non-GAAP financial measures are financial metrics that exclude certain items that may not be indicative of Abbott's core operating performance, such as separation costs, litigation reserves, and amortization. Abbott uses them to provide investors with a clearer view of ongoing business performance, as management also uses these measures internally to assess performance.

The non-GAAP measures exclude items such as cost reduction initiatives, philanthropic contributions, costs transferred or charged to AbbVie Inc. due to the separation, interest expense adjustments post-separation, tax expense adjustments for prior year resolutions, litigation reserves, separation and integration costs, and intangible amortization expense.

No, Abbott explicitly cautions investors 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). Investors should review both GAAP and non-GAAP figures for a comprehensive understanding.