AbbVie Inc. (ABBV)
Income Statement
Consolidated Statement of Income
AbbVie Inc. (ABBV31)
Three and Six Months Ended (In millions, except shares and per share data)
| Jun 30, 2026 (Q2) | Jun 30, 2025 (Q2) | Jun 30, 2026 (YTD) | Jun 30, 2025 (YTD) | |
|---|---|---|---|---|
| Net revenues | $16,990 | $15,423 | $31,992 | $28,766 |
| Cost of products sold | $4,291 | $4,346 | $8,509 | $8,348 |
| Selling, general and administrative | $3,632 | $3,253 | $7,210 | $6,546 |
| Research and development | $2,344 | $2,131 | $4,816 | $4,198 |
| Acquired IPR&D and milestones | $291 | $823 | $1,035 | $1,071 |
| Other operating income | $(24) | $(24) | ||
| Total operating costs and expenses | $10,558 | $10,529 | $21,570 | $20,139 |
| Operating earnings | $6,432 | $4,894 | $10,422 | $8,627 |
| Interest expense, net | $679 | $678 | $1,324 | $1,305 |
| Other expense, net | $1,475 | $2,662 | $3,781 | $4,107 |
| Earnings before income tax expense | $4,278 | $1,554 | $5,317 | $3,215 |
| Income tax expense | $662 | $613 | $1,004 | $985 |
| Net earnings | $3,616 | $941 | $4,313 | $2,230 |
| Net earnings attributable to noncontrolling interest | $3 | $3 | $5 | $6 |
| Net earnings attributable to AbbVie Inc. | $3,613 | $938 | $4,308 | $2,224 |
| Basic earnings per share (in dollars per share) | 2.04 | 0.52 | 2.42 | 1.25 |
| Diluted earnings per share (in dollars per share) | 2.03 | 0.52 | 2.42 | 1.24 |
| Weighted-average basic shares outstanding (in shares) | 1,769 | 1,768 | 1,769 | 1,768 |
| Weighted-average diluted shares outstanding (in shares) | 1,771 | 1,771 | 1,773 | 1,772 |
Balance Sheet
Consolidated Balance Sheets
AbbVie Inc. (ABBV31)
As of June 30, 2026 and December 31, 2025 (In millions, except shares and per share data)
| Jun 30, 2026 | Dec 31, 2025 | |
|---|---|---|
| Cash and equivalents | $6,569 | $5,229 |
| Accounts receivable, net | $13,824 | $12,589 |
| Inventories | $5,127 | $4,951 |
| Prepaid expenses and other | $8,149 | $6,293 |
| Total current assets | $33,669 | $29,062 |
| Investments | $266 | $268 |
| Property and equipment, net | $5,796 | $5,628 |
| Intangible assets, net | $49,139 | $52,641 |
| Goodwill | $35,519 | $35,640 |
| Other assets | $10,726 | $10,721 |
| Total assets | $135,115 | $133,960 |
| Short-term borrowings | $2,499 | |
| Commercial paper | $499 | |
| 364-day Term Loan Credit Agreement | $2,000 | |
| Current portion of long-term debt | $8,341 | $6,056 |
| Accounts payable and accrued liabilities | $33,301 | $34,734 |
| Total current liabilities | $41,642 | $43,289 |
| Long-term debt | $62,481 | $58,941 |
| Deferred income taxes | $2,277 | $2,389 |
| Other long-term liabilities | $34,603 | $32,569 |
| Commitments and contingencies | ||
| Common stock, $0.01 par value, 4,000,000,000 shares authorized, 1,844,174,521 shares issued as of June 30, 2026 and 1,838,678,628 as of December 31, 2025 | $18 | $18 |
| Common stock held in treasury, at cost, 77,105,240 shares as of June 30, 2026 and 70,802,593 as of December 31, 2025 | $(10,618) | $(9,146) |
| Additional paid-in capital | $23,156 | $22,495 |
| Accumulated deficit | $(17,333) | $(15,493) |
| Accumulated other comprehensive loss | $(1,158) | $(1,144) |
| Total stockholders' deficit | $(5,935) | $(3,270) |
| Noncontrolling interest | $47 | $42 |
| Total deficit | $(5,888) | $(3,228) |
| Total liabilities and equity (deficit) | $135,115 | $133,960 |
Cash Flow
Consolidated Statement of Cash Flows
AbbVie Inc. (ABBV31)
Six Months Ended (In millions, except shares and per share data)
| Jun 30, 2026 (YTD) | Jun 30, 2025 (YTD) | |
|---|---|---|
| Net earnings | $4,313 | $2,230 |
| Depreciation | $382 | $367 |
| Amortization of intangible assets | $3,437 | $3,722 |
| Deferred income taxes | $(58) | $(300) |
| Change in fair value of contingent consideration liabilities | 3,905 | 4,313 |
| Payments of contingent consideration liabilities | (1,784) | (1,408) |
| Stock-based compensation | $610 | $589 |
| Acquired IPR&D and milestones | $1,035 | $1,071 |
| Non-cash litigation reserve adjustments, net of cash payments | $86 | $(750) |
| Other, net | $(18) | $96 |
| Accounts receivable | $(1,282) | $(1,496) |
| Inventories | $(327) | $(211) |
| Prepaid expenses and other assets | $(338) | $(257) |
| Accounts payable and other liabilities | $(392) | $(181) |
| Income tax assets and liabilities, net | $(2,304) | $(997) |
| Cash flows from operating activities | $7,265 | $6,788 |
| Acquisitions of businesses, net of cash acquired | $(204) | |
| Other acquisitions and investments, net of cash acquired | $(1,090) | $(1,274) |
| Acquisitions of property and equipment | $(587) | $(504) |
| Other, net | $(94) | $66 |
| Cash flows from investing activities | $(1,771) | $(1,916) |
| Net change in commercial paper borrowings with original maturities of three months or less | $(499) | $1,549 |
| Proceeds from issuance of other short-term borrowings | $4,007 | |
| Repayments of other short-term borrowings | $(2,000) | |
| Proceeds from issuance of long-term debt | $7,991 | $3,994 |
| Repayments of long-term debt | $(2,000) | $(6,780) |
| Dividends paid | $(6,156) | $(5,835) |
| Purchases of treasury stock | $(1,498) | $(973) |
| Other, net | $27 | $70 |
| Cash flows from financing activities | $(4,135) | $(3,968) |
| Effect of exchange rate changes on cash and equivalents | $(19) | $39 |
| Net change in cash and equivalents | $1,340 | $943 |
| Cash and equivalents, end of period | ||
| Cash and equivalents, end of period |