8-KEarnings & ResultsExhibits & Filings

ABBOTT LABORATORIES 8-K Report, Financial Results (Jul 16, 2014)

Filed July 16, 2014For Securities:ABT

Summary

Abbott Laboratories filed an 8-K report on July 16, 2014, to announce its second-quarter 2014 financial results. The primary focus of this filing is the disclosure of these results, which are provided in a press release furnished as Exhibit 99.1. Investors should note that Abbott utilized non-GAAP financial measures in its earnings announcement, adjusting for items such as cost reduction initiatives, tax law changes, repatriation of ex-U.S. earnings, and resolution of prior tax positions, as well as excluding intangible amortization expense. Management believes these non-GAAP measures offer enhanced visibility into the company's ongoing operational performance and are used internally for performance monitoring. However, Abbott advises investors to consider these non-GAAP figures in conjunction with, and not as a replacement for, standard GAAP financial measures. This filing serves as the official notification of the quarterly results and the associated financial reporting practices.

Key Highlights

  • 1Abbott Laboratories announced its second-quarter 2014 financial results via an 8-K filing dated July 16, 2014.
  • 2The press release detailing the Q2 2014 results is furnished as Exhibit 99.1 to the 8-K.
  • 3The company employed non-GAAP financial measures in its earnings announcement.
  • 4Non-GAAP adjustments include cost reduction initiatives, tax law changes, repatriation of ex-U.S. earnings, and resolution of prior tax positions.
  • 5Intangible amortization expense was excluded from non-GAAP measures to provide clearer operational performance insights.
  • 6Abbott's management uses these non-GAAP measures internally to assess business performance.
  • 7Investors are cautioned to consider non-GAAP measures alongside GAAP financial measures.

Frequently Asked Questions

The primary purpose of this 8-K filing is to announce Abbott Laboratories' financial results for the second quarter of 2014. The detailed financial results are provided in a press release, which is included as an exhibit to the filing.

Non-GAAP financial measures are financial metrics that exclude certain items from GAAP (Generally Accepted Accounting Principles) measures. Abbott uses them to provide investors with a better understanding of the company's ongoing business performance by adjusting for factors that can be unusual, unpredictable, or not indicative of core operations, such as one-time tax items and amortization expenses. Management also uses these measures internally.

No, Abbott specifically cautions investors to consider these non-GAAP financial measures in addition to, and not as a substitute for, financial measures prepared in accordance with GAAP. Investors should review both GAAP and non-GAAP figures for a complete understanding of the company's financial condition and results of operations.

The filing indicates that non-GAAP measures adjusted for factors such as cost reduction initiatives, benefits from U.S. tax law changes, tax expense associated with one-time repatriation of ex-U.S. earnings, and tax expense adjustments from resolving various tax positions from previous years. Intangible amortization expense was also excluded.