8-KEarnings & ResultsExhibits & Filings

ABBOTT LABORATORIES 8-K Report, Financial Results (Jan 22, 2014)

Filed January 22, 2014For Securities:ABT

Summary

Abbott Laboratories (ABT) filed an 8-K report on January 22, 2014, to announce its financial results for the fourth quarter and full year of 2013. The report primarily furnished a press release detailing these results. A key aspect of the filing is Abbott's use of non-GAAP financial measures, which adjust for items such as cost reduction initiatives, philanthropic contributions, separation-related costs from AbbVie Inc., and intangible amortization. The company asserts that these adjusted figures provide investors with enhanced visibility into ongoing business performance and are used internally for management assessment. Investors should note that while Abbott presents these non-GAAP measures as a useful supplement to GAAP results, they are cautioned to consider them alongside the standard GAAP financial statements. The filing does not provide specific financial figures within the 8-K itself but directs readers to the furnished press release for detailed operational and financial condition data for the period ended December 31, 2013.

Key Highlights

  • 1Abbott Laboratories announced its Q4 and Full Year 2013 financial results on January 22, 2014.
  • 2The primary purpose of the 8-K filing was to furnish a press release containing these results.
  • 3Abbott utilized non-GAAP financial measures in its earnings announcement.
  • 4These non-GAAP measures exclude items such as cost reduction initiatives, philanthropic contributions, and separation-related costs from AbbVie.
  • 5Intangible amortization expense was also excluded in the non-GAAP reporting.
  • 6The company stated these adjusted measures offer better insight into ongoing business performance.
  • 7Investors are advised to consider non-GAAP measures in addition to, not as a substitute for, GAAP financial measures.

Frequently Asked Questions

The main purpose of this 8-K filing is to formally announce and provide access to Abbott Laboratories' financial results for the fourth quarter and the full year ended December 31, 2013, through a furnished press release.

Non-GAAP financial measures are financial metrics that exclude certain items from GAAP (Generally Accepted Accounting Principles) calculations. Abbott uses them to provide investors with a clearer view of ongoing operational performance by adjusting for unusual or unpredictable items like cost reduction initiatives, separation costs from AbbVie, and intangible amortization.

The specific financial results are detailed in the press release dated January 22, 2014, which is provided as Exhibit 99.1 to this 8-K filing. You will need to refer to that press release for the detailed figures.

AbbVie was Abbott's research-based pharmaceuticals business, which was separated into an independent company. Costs associated with this separation, and adjustments to reflect Abbott's capital structure post-separation, are among the items excluded from Abbott's non-GAAP financial measures to better assess ongoing performance.