ABBV — compare financials

Income Statement

Consolidated Statement of Income

AbbVie Inc. (ABBV31)

Year Ended (In millions, except shares and per share data)

	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023
Net revenues	$61,160	$56,334	$54,318
Cost of products sold	$18,204	$16,904	$20,415
Selling, general and administrative	$14,010	$14,752	$12,872
Research and development	$9,096	$12,791	$7,675
Acquired IPR&D and milestones	$5,016	$2,757	$778
Collaborative arrangement	$4,808	$2,627	$582
Other operating income	$(241)	$(7)	$(179)
Total operating costs and expenses	$46,085	$47,197	$41,561
Operating earnings	$15,075	$9,137	$12,757
Interest expense, net	$2,627	$2,160	$1,684
Net foreign exchange loss	$58	$21	$146
Other expense, net	$5,793	$3,240	$4,677
Earnings before income tax expense	$6,597	$3,716	$6,250
Income tax expense (benefit)	$2,364	$(570)	$1,377
Tax court petition
Net earnings	$4,233	$4,286	$4,873
Net earnings attributable to noncontrolling interest	$7	$8	$10
Net earnings attributable to AbbVie Inc.	$4,226	$4,278	$4,863
Basic earnings per share (in dollars per share)	2.37	2.40	2.73
Diluted earnings per share (in dollars per share)	2.36	2.39	2.72
Weighted-average basic shares outstanding (in shares)	1,769	1,769	1,768
Weighted-average diluted shares outstanding (in shares)	1,773	1,773	1,773

Balance Sheet

Consolidated Balance Sheets

AbbVie Inc. (ABBV31)

As of December 31, 2025 and December 31, 2024 (In millions, except shares and per share data)

	Dec 31, 2025	Dec 31, 2024
Cash and equivalents	$5,229	$5,524
Short-term investments	$28	$31
Accounts receivable, net	$12,589	$10,919
Inventories	$4,951	$4,181
Prepaid expenses and other	$6,265	$4,927
Total current assets	$29,062	$25,582
Investments	$268	$279
Property and equipment, net	$5,628	$5,134
Intangible assets, net	$52,641	$60,068
Goodwill	$35,640	$34,956
Other assets	$10,721	$9,142
Total assets	$133,960	$135,161
Short-term borrowings	$2,499
Commercial Paper	$499
364 day Term Loan Credit Agreement	$2,000
Current portion of long-term debt and finance lease obligations	$6,056	$6,804
Accounts payable and accrued liabilities	$34,734	$31,945
Total current liabilities	$43,289	$38,749
Long-term debt and finance lease obligations	$58,941	$60,340
Deferred income taxes	$2,389	$2,579
Other long-term liabilities	$32,569	$30,129
Commitments and contingencies
Common stock, $0.01 par value, 4,000,000,000 shares authorized, 1,838,678,628 shares issued as of December 31, 2025 and 1,831,594,494 as of December 31, 2024	$18	$18
Common stock held in treasury, at cost, 70,802,593 shares as of December 31, 2025 and 66,337,508 as of December 31, 2024	$(9,146)	$(8,201)
Additional paid-in capital	$22,495	$21,333
Accumulated deficit	$(15,493)	$(7,900)
Accumulated other comprehensive loss	$(1,144)	$(1,925)
Total stockholders' equity (deficit)	$(3,270)	$3,325
Noncontrolling interest	$42	$39
Total equity (deficit)	$(3,228)	$3,364
Total liabilities and equity	$133,960	$135,161

Cash Flow

Consolidated Statement of Cash Flows

AbbVie Inc. (ABBV31)

Year Ended (In millions, except shares and per share data)

	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023
Net earnings	$4,233	$4,286	$4,873
Depreciation	$762	$764	$752
Amortization of intangible assets	$7,377	$7,622	$7,946
Deferred income taxes	$(492)	$(1,449)	$(2,889)
Change in fair value of contingent consideration liabilities	6,495	3,771	5,128
Payments of contingent consideration liabilities	(2,865)	(1,995)	(870)
Stock-based compensation	$955	$911	$747
Acquired IPR&D and milestones	$5,016	$2,757	$778
Non-cash litigation reserve adjustments, net of cash payments	$(933)	$508	$(443)
Impairment of intangible assets	$847	$4,476	$4,229
AGN-151607
Other, net	$(3)	$(63)	$(225)
Accounts receivable	$(1,490)	$207	$66
Inventories	$(234)	$(319)	$(417)
Prepaid expenses and other assets	$(827)	$361	$(188)
Accounts payable and other liabilities	$951	$177	$3,840
Income tax assets and liabilities, net	$(762)	$(3,208)	$(488)
Cash flows from operating activities	$19,030	$18,806	$22,839
Acquisition of businesses, net of cash acquired	$(204)	$(17,493)
Other acquisitions and investments, net of cash acquired	$(5,237)	$(3,024)	$(1,223)
Acquisitions of property and equipment	$(1,214)	$(974)	$(777)
Purchases of investment securities	$(35)	$(73)	$(77)
Sales and maturities of investment securities	$76	$555	$55
Other, net	$(29)	$189	$13
Cash flows from investing activities	$(6,643)	$(20,820)	$(2,009)
Net change in commercial paper borrowings with original maturities of three months or less	$499
Proceeds from Short-Term Debt	$4,798	$5,008
Repayments of Other Short-Term Debt	$(2,798)	$(5,008)
December 2023 Term Loan Credit Agreement		$(5,000)
Proceeds from issuance of long-term debt	$3,994	$16,963
Repayments of long-term debt and finance lease obligations	$(6,797)	$(9,613)	$(4,149)
Debt issuance costs	$(23)	$(99)	$(38)
Dividends paid	$(11,657)	$(11,025)	$(10,539)
Purchases of treasury stock	$(980)	$(1,708)	$(1,972)
Proceeds from the exercise of stock options	$172	$214	$180
Payments of contingent consideration liabilities			(752)
Other, net	$68	$57	$48
Cash flows from financing activities	$(12,724)	$(5,211)	$(17,222)
Effect of exchange rate changes on cash and equivalents	$42	$(65)	$5
Net change in cash and equivalents	$(295)	$(7,290)	$3,613
Cash and equivalents, end of year
Cash and equivalents, end of year
Interest paid, net of portion capitalized	$3,002	$2,811	$2,469