Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

AbbVie Inc., consolidated income statement

US$ in millions

12 months ended:	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net revenues	56,334)	54,318)	58,054)	56,197)	45,804)
Cost of products sold	(16,904)	(20,415)	(17,414)	(17,446)	(15,387)
Gross margin	39,430)	33,903)	40,640)	38,751)	30,417)
Selling, general and administrative	(14,752)	(12,872)	(15,260)	(12,349)	(11,299)
Research and development	(12,791)	(7,675)	(6,510)	(7,084)	(6,557)
Acquired IPR&D and milestones	(2,757)	(778)	(697)	(962)	(1,198)
Other operating income (expense), net	7)	179)	(56)	(432)	—)
Operating earnings	9,137)	12,757)	18,117)	17,924)	11,363)
Interest expense	(2,808)	(2,224)	(2,230)	(2,423)	(2,454)
Interest income	648)	540)	186)	39)	174)
Interest expense, net	(2,160)	(1,684)	(2,044)	(2,384)	(2,280)
Net foreign exchange loss	(21)	(146)	(148)	(51)	(71)
Other expense, net	(3,240)	(4,677)	(2,448)	(2,500)	(5,614)
Earnings before income tax expense	3,716)	6,250)	13,477)	12,989)	3,398)
Income tax (expense) benefit	570)	(1,377)	(1,632)	(1,440)	1,224)
Net earnings	4,286)	4,873)	11,845)	11,549)	4,622)
Net earnings attributable to noncontrolling interest	(8)	(10)	(9)	(7)	(6)
Net earnings attributable to AbbVie Inc.	4,278)	4,863)	11,836)	11,542)	4,616)

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

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Income statement item	Description	The company
Net revenues	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	AbbVie Inc. net revenues decreased from 2022 to 2023 but then increased from 2023 to 2024 not reaching 2022 level.
Operating earnings	The net result for the period of deducting operating expenses from operating revenues.	AbbVie Inc. operating earnings decreased from 2022 to 2023 and from 2023 to 2024.
Earnings before income tax expense	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	AbbVie Inc. earnings before income tax expense decreased from 2022 to 2023 and from 2023 to 2024.
Net earnings attributable to AbbVie Inc.	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	AbbVie Inc. net earnings attributable to AbbVie Inc. decreased from 2022 to 2023 and from 2023 to 2024.

AbbVie Inc. (NYSE:ABBV)

Income Statement