AbbVie Inc. Reconciliation of Reported GAAP and Non-GAAP Results to Revised Non-GAAP Results (Unaudited) (In Millions, except per share data) Quarter Ended
Thursday, April 21, 2022 1 min read
Key Takeaway: Reconciliation of Reported GAAP and Non-GAAP Results to Revised Non-GAAP Results
(Unaudited) (In Millions, except per share data)
Reconciliation of Reported GAAP and Non-GAAP Results to Revised Non-GAAP Results
(Unaudited) (In Millions, except per share data)
Full Press Release Details
Reconciliation of Reported GAAP and Non-GAAP Results to Revised Non-GAAP Results
(Unaudited) (In Millions, except per share data)
Quarter Ended March 31, 2021
Earnings
Diluted
Pre-tax
After-tax b
EPS
As reported (GAAP)
$
3,867
$
3,553
$
1.99
Specified items, as originally reported
2,141
1,715
0.96
As adjusted (non-GAAP), as originally reported
6,008
5,268
2.95
Previously specified items a
(110
)
(109
)
(0.06
)
As adjusted (non-GAAP), revised
$
5,898
$
5,159
$
2.89
Quarter Ended June 30, 2021
Earnings
Diluted
Pre-tax
After-tax b
EPS
As reported (GAAP)
$
1,163
$
766
$
0.42
Specified items, as originally reported
5,195
4,790
2.69
As adjusted (non-GAAP), as originally reported
6,358
5,556
3.11
Previously specified items a
(132
)
(132
)
(0.08
)
As adjusted (non-GAAP), revised
$
6,226
$
5,424
$
3.03
Quarter Ended September 30, 2021
Earnings
Diluted
Pre-tax
After-tax b
EPS
As reported (GAAP)
$
3,688
$
3,179
$
1.78
Specified items, as originally reported
3,128
2,774
1.55
As adjusted (non-GAAP), as originally reported
6,816
5,953
3.33
Previously specified items a
(902
)
(896
)
(0.50
)
As adjusted (non-GAAP), revised
$
5,914
$
5,057
$
2.83
Quarter Ended December 31, 2021
Earnings
Diluted
Pre-tax
After-tax b
EPS
As reported (GAAP)
$
4,271
$
4,044
$
2.26
Specified items, as originally reported
2,493
1,875
1.05
As adjusted (non-GAAP), as originally reported
6,764
5,919
3.31
Previously specified items a
(405
)
(405
)
(0.23
)
As adjusted (non-GAAP), revised
$
6,359
$
5,514
$
3.08
Six Months Ended June 30, 2021
Earnings
Diluted
Pre-tax
After-tax b
EPS
As reported (GAAP)
$
5,030
$
4,319
$
2.41
Specified items, as originally reported
7,336
6,505
3.65
As adjusted (non-GAAP), as originally reported
12,366
10,824
6.06
Previously specified items a
(242
)
(241
)
(0.14
)
As adjusted (non-GAAP), revised
$
12,124
$
10,583
$
5.92
Nine Months Ended September 30, 2021
Earnings
Diluted
Pre-tax
After-tax b
EPS
As reported (GAAP)
$
8,718
$
7,498
$
4.19
Specified items, as originally reported
10,464
9,279
5.20
As adjusted (non-GAAP), as originally reported
19,182
16,777
9.39
Previously specified items a
(1,144
)
(1,137
)
(0.64
)
As adjusted (non-GAAP), revised
$
18,038
$
15,640
$
8.75
Twelve Months Ended December 31, 2021
Earnings
Diluted
Pre-tax
After-tax b
EPS
As reported (GAAP)
$
12,989
$
11,542
$
6.45
Specified items, as originally reported
12,957
11,154
6.25
As adjusted (non-GAAP), as originally reported
25,946
22,696
12.70
Previously specified items a
(1,549
)
(1,542
)
(0.87
)
As adjusted (non-GAAP), revised
$
24,397
$
21,154
$
11.83
a Includes upfront and development milestone charges related to collaborations, licensing agreements, and other asset acquisitions, as well as inbound milestones.
b Represents net earnings attributable to AbbVie Inc.
Reconciliation of Reported GAAP and Non-GAAP Results to Revised Non-GAAP Results
(Unaudited) (In Millions, except per share data)
Quarter Ended March 31, 2021
Net revenues
Cost of products sold
SG&A
R&D
Acquired IPR&D and milestones
Other operating expense (income), net
Other expense (income), net
As reported (GAAP) a
$
13,010
$
4,213
$
2,842
$
1,667
$
185
$
-
$
(395
)
Specified items, as originally reported a
(75
)
(2,128
)
(99
)
(162
)
(185
)
-
358
As adjusted (non-GAAP), as originally reported
12,935
2,085
2,743
1,505
-
-
(37
)
Previously specified items b
75
-
-
-
185
-
-
As adjusted (non-GAAP), revised
$
13,010
$
2,085
$
2,743
$
1,505
$
185
$
-
$
(37
)
Quarter Ended June 30, 2021
Net revenues
Cost of products sold
SG&A
R&D
Acquired IPR&D and milestones
Other operating expense (income), net
Other expense (income), net
As reported (GAAP) a
$
13,959
$
4,523
$
3,164
$
1,767
$
132
$
(68
)
$
2,658
Specified items, as originally reported a
-
(2,044
)
(211
)
(184
)
(132
)
68
(2,692
)
As adjusted (non-GAAP), as originally reported
13,959
2,479
2,953
1,583
-
-
(34
)
Previously specified items b
-
-
-
-
132
-
-
As adjusted (non-GAAP), revised
$
13,959
$
2,479
$
2,953
$
1,583
$
132
$
-
$
(34
)
Quarter Ended September 30, 2021
Net revenues
Cost of products sold
SG&A
R&D
Acquired IPR&D and milestones
Other operating expense (income), net
Other expense (income), net
As reported (GAAP) a
$
14,342
$
4,390
$
3,083
$
1,661
$
402
$
500
$
21
Specified items, as originally reported a
-
(1,977
)
(122
)
(29
)
(402
)
(500
)
(98
)
As adjusted (non-GAAP), as originally reported
14,342
2,413
2,961
1,632
-
-
(77
)
Previously specified items b
-
-
-
-
402
500
-
As adjusted (non-GAAP), revised
$
14,342
$
2,413
$
2,961
$
1,632
$
402
$
500
$
(77
)
Quarter Ended December 31, 2021
Net revenues
Cost of products sold
SG&A
R&D
Acquired IPR&D and milestones
Other operating expense (income), net
Other expense (income), net
As reported (GAAP) a
$
14,886
$
4,320
$
3,260
$
1,827
$
405
$
-
$
216
Specified items, as originally reported a
-
(1,872
)
47
(29
)
(405
)
-
(234
)
As adjusted (non-GAAP), as originally reported
14,886
2,448
3,307
1,798
-
-
(18
)
Previously specified items b
-
-
-
-
405
-
-
As adjusted (non-GAAP), revised
$
14,886
$
2,448
$
3,307
$
1,798
$
405
$
-
$
(18
)
Six Months Ended June 30, 2021
Net revenues
Cost of products sold
SG&A
R&D
Acquired IPR&D and milestones
Other operating expense (income), net
Other expense (income), net
As reported (GAAP) a
$
26,969
$
8,736
$
6,006
$
3,434
$
317
$
(68
)
$
2,263
Specified items, as originally reported a
(75
)
(4,172
)
(310
)
(346
)
(317
)
68
(2,334
)
As adjusted (non-GAAP), as originally reported
26,894
4,564
5,696
3,088
-
-
(71
)
Previously specified items b
75
-
-
-
317
-
-
As adjusted (non-GAAP), revised
$
26,969
$
4,564
$
5,696
$
3,088
$
317
$
-
$
(71
)
Nine Months Ended September 30, 2021
Net revenues
Cost of products sold
SG&A
R&D
Acquired IPR&D and milestones
Other operating expense (income), net
Other expense (income), net
As reported (GAAP) a
$
41,311
$
13,126
$
9,089
$
5,095
$
719
$
432
$
2,284
Specified items, as originally reported a
(75
)
(6,149
)
(432
)
(375
)
(719
)
(432
)
(2,432
)
As adjusted (non-GAAP), as originally reported
41,236
6,977
8,657
4,720
-
-
(148
)
Previously specified items b
75
-
-
-
719
500
-
As adjusted (non-GAAP), revised
$
41,311
$
6,977
$
8,657
$
4,720
$
719
$
500
$
(148
)
Twelve Months Ended December 31, 2021
Net revenues
Cost of products sold
SG&A
R&D
Acquired IPR&D and milestones
Other operating expense (income), net
Other expense (income), net
As reported (GAAP) a
$
56,197
$
17,446
$
12,349
$
6,922
$
1,124
$
432
$
2,500
Specified items, as originally reported a
(75
)
(8,021
)
(385
)
(404
)
(1,124
)
(432
)
(2,666
)
As adjusted (non-GAAP), as originally reported
56,122
9,425
11,964
6,518
-
-
(166
)
Previously specified items b
75
-
-
-
1,124
500
-
As adjusted (non-GAAP), revised
$
56,197
$
9,425
$
11,964
$
6,518
$
1,124
$
500
$
(166
)
a Development milestone charges related to collaborations, licensing agreements, and other asset acquisitions have been reclassified to the acquired IPR&D and milestones line beginning in the first quarter of 2022. Prior period results have been revised for comparability.
b Includes upfront and development milestone charges related to collaborations, licensing agreements, and other asset acquisitions, as well as inbound milestones.