What is the main purpose of this 8-K filing?

This 8-K filing serves to report Abbott Laboratories' financial results and operations for the third quarter of 2016, as announced on October 19, 2016.

What are non-GAAP financial measures and why does Abbott use them?

Non-GAAP financial measures are financial metrics that exclude certain items that management deems unusual or unpredictable. Abbott uses them to provide investors with a clearer perspective on the company's ongoing business performance, by removing the impact of factors like acquisition costs, restructuring charges, and certain tax adjustments. They are intended to offer an alternative view to standard GAAP reporting.

What specific items are excluded in Abbott's non-GAAP financial measures?

The non-GAAP measures presented exclude various items, including expenses related to acquisitions, bridge facility fees, cost reduction initiatives, resolution of prior tax matters, deferred taxes linked to the pending sale of Abbott Medical Optics, foreign exchange losses in Venezuela, and adjustments to the company's investment in Mylan N.V. Intangible amortization expense is also excluded.

Should investors rely solely on the non-GAAP figures presented?

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.

ABT 8-K: Earnings & Results

Summary

Abbott Laboratories (ABT) filed an 8-K on October 19, 2016, to report its financial results for the third quarter of 2016. The filing includes a press release with detailed operational and financial performance. A key aspect of the disclosure is the company's use of non-GAAP financial measures, which management believes offer a clearer view of ongoing business performance by excluding certain unusual or unpredictable items. These adjustments include expenses related to acquisitions (like bridge facility fees), cost reduction initiatives, resolution of prior tax matters, deferred taxes tied to the pending sale of Abbott Medical Optics, foreign exchange impacts in Venezuela, and adjustments to the value of their equity investment in Mylan N.V. Abbott emphasizes that these non-GAAP figures are meant to supplement, not replace, GAAP-based reporting, providing investors with additional context for evaluating operational trends.

Key Highlights

1Abbott Laboratories reported its third quarter 2016 results via an 8-K filing on October 19, 2016.
2The company provided a press release (Exhibit 99.1) detailing its financial performance for the quarter.
3Abbott utilized non-GAAP financial measures in its earnings release to present operational results.
4These non-GAAP measures exclude items such as acquisition-related expenses, cost reduction charges, and tax-related adjustments.
5The exclusion of intangible amortization expense is also noted to enhance visibility into core operational results.
6Management believes these non-GAAP measures aid investors in evaluating ongoing business performance.
7The company cautions that non-GAAP measures should be considered alongside, not as a substitute for, GAAP financial statements.

ABBOTT LABORATORIES 8-K Report, Financial Results (Oct 19, 2016)

Summary

Key Highlights

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