AbbVie Inc., adjustment to net earnings attributable to AbbVie Inc.

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net earnings attributable to AbbVie Inc. (as reported)	4,863)	11,836)	11,542)	4,616)	7,882)
Add: Marketable security activities, net of tax	—)	—)	—)	—)	10)
Net earnings attributable to AbbVie Inc. (adjusted)	4,863)	11,836)	11,542)	4,616)	7,892)

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AbbVie Inc., adjusted profitability ratios

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net Profit Margin
Reported net profit margin	8.95%	20.39%	20.54%	10.08%	23.69%
Adjusted net profit margin	8.95%	20.39%	20.54%	10.08%	23.72%
Return on Equity (ROE)
Reported ROE	46.94%	68.60%	74.91%	35.30%	—
Adjusted ROE	46.94%	68.60%	74.91%	35.30%	—
Return on Assets (ROA)
Reported ROA	3.61%	8.53%	7.88%	3.07%	8.84%
Adjusted ROA	3.61%	8.53%	7.88%	3.07%	8.86%

Profitability ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by revenue.	AbbVie Inc. adjusted net profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023.
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by shareholders’ equity.	AbbVie Inc. adjusted ROE deteriorated from 2021 to 2022 and from 2022 to 2023.
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by total assets.	AbbVie Inc. adjusted ROA improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

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	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Selected Financial Data (US$ in millions)
Net earnings attributable to AbbVie Inc.	4,863)	11,836)	11,542)	4,616)	7,882)
Net revenues	54,318)	58,054)	56,197)	45,804)	33,266)
Profitability Ratio
Net profit margin¹	8.95%	20.39%	20.54%	10.08%	23.69%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net earnings attributable to AbbVie Inc.	4,863)	11,836)	11,542)	4,616)	7,892)
Net revenues	54,318)	58,054)	56,197)	45,804)	33,266)
Profitability Ratio
Adjusted net profit margin²	8.95%	20.39%	20.54%	10.08%	23.72%

2023 Calculations

¹ Net profit margin = 100 × Net earnings attributable to AbbVie Inc. ÷ Net revenues
= 100 × 4,863 ÷ 54,318 = 8.95%

² Adjusted net profit margin = 100 × Adjusted net earnings attributable to AbbVie Inc. ÷ Net revenues
= 100 × 4,863 ÷ 54,318 = 8.95%

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Profitability ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by revenue.	AbbVie Inc. adjusted net profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Selected Financial Data (US$ in millions)
Net earnings attributable to AbbVie Inc.	4,863)	11,836)	11,542)	4,616)	7,882)
Stockholders’ equity (deficit)	10,360)	17,254)	15,408)	13,076)	(8,172)
Profitability Ratio
ROE¹	46.94%	68.60%	74.91%	35.30%	—
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net earnings attributable to AbbVie Inc.	4,863)	11,836)	11,542)	4,616)	7,892)
Stockholders’ equity (deficit)	10,360)	17,254)	15,408)	13,076)	(8,172)
Profitability Ratio
Adjusted ROE²	46.94%	68.60%	74.91%	35.30%	—

2023 Calculations

¹ ROE = 100 × Net earnings attributable to AbbVie Inc. ÷ Stockholders’ equity (deficit)
= 100 × 4,863 ÷ 10,360 = 46.94%

² Adjusted ROE = 100 × Adjusted net earnings attributable to AbbVie Inc. ÷ Stockholders’ equity (deficit)
= 100 × 4,863 ÷ 10,360 = 46.94%

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Profitability ratio	Description	The company
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by shareholders’ equity.	AbbVie Inc. adjusted ROE deteriorated from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Selected Financial Data (US$ in millions)
Net earnings attributable to AbbVie Inc.	4,863)	11,836)	11,542)	4,616)	7,882)
Total assets	134,711)	138,805)	146,529)	150,565)	89,115)
Profitability Ratio
ROA¹	3.61%	8.53%	7.88%	3.07%	8.84%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net earnings attributable to AbbVie Inc.	4,863)	11,836)	11,542)	4,616)	7,892)
Total assets	134,711)	138,805)	146,529)	150,565)	89,115)
Profitability Ratio
Adjusted ROA²	3.61%	8.53%	7.88%	3.07%	8.86%

2023 Calculations

¹ ROA = 100 × Net earnings attributable to AbbVie Inc. ÷ Total assets
= 100 × 4,863 ÷ 134,711 = 3.61%

² Adjusted ROA = 100 × Adjusted net earnings attributable to AbbVie Inc. ÷ Total assets
= 100 × 4,863 ÷ 134,711 = 3.61%

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Profitability ratio	Description	The company
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by total assets.	AbbVie Inc. adjusted ROA improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

AbbVie Inc. (NYSE:ABBV)

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