8-KEarnings & ResultsExhibits & Filings

ABBOTT LABORATORIES 8-K Report, Financial Results (Oct 21, 2015)

Filed October 21, 2015For Securities:ABT

Summary

Abbott Laboratories (ABT) filed an 8-K on October 21, 2015, primarily to announce its third-quarter 2015 financial results. The filing highlighted the company's use of non-GAAP financial measures, which management believes offer a clearer view of ongoing operational performance by excluding certain one-time or unusual items. These adjustments include costs related to reduction initiatives, transactions, a one-time tax expense from repatriating foreign earnings, gains on Mylan stock sales, and changes in contingent consideration, as well as intangible amortization. Investors are encouraged to review these non-GAAP measures alongside GAAP figures. The company's management uses these adjusted metrics internally to assess business performance, aiming to provide stakeholders with enhanced visibility into the core operating results. The detailed results for the third quarter were provided in a press release furnished as Exhibit 99.1.

Key Highlights

  • 1Abbott Laboratories announced its third-quarter 2015 financial results on October 21, 2015, via an 8-K filing.
  • 2The company provided its financial results in a press release, which is attached as Exhibit 99.1 to the 8-K.
  • 3Abbott utilized non-GAAP financial measures in its earnings announcement.
  • 4Non-GAAP measures were adjusted to exclude items such as cost reduction initiatives, transaction-related costs, and a one-time tax expense from repatriating ex-U.S. earnings.
  • 5Other exclusions from non-GAAP measures included gains on Mylan stock sales and changes in the fair value of contingent consideration.
  • 6Intangible amortization expense was also excluded to provide better visibility into core operations.
  • 7Management believes these non-GAAP measures offer a more useful view of ongoing business performance for investors, complementing GAAP measures.

Frequently Asked Questions

The primary purpose of this 8-K filing is to announce Abbott Laboratories' results of operations for the third quarter of 2015 and to furnish the accompanying press release as an exhibit.

Abbott uses non-GAAP financial measures to provide investors with a clearer understanding of its ongoing business performance. These measures exclude certain items that management believes are unusual or unpredictable, allowing for a better assessment of the company's core operations.

The non-GAAP measures disclosed by Abbott exclude items such as cost reduction initiatives, transaction-related costs, a one-time tax expense related to the repatriation of foreign earnings, gains from the sale of Mylan stock, adjustments to the fair value of contingent consideration, and intangible amortization expense.

No, Abbott 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). Management uses both GAAP and non-GAAP measures to assess performance.