Stock Analysis on Net

Abbott Laboratories (NYSE:ABT) 

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.

Abbott Laboratories, consolidated income statement

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Net sales 41,950 40,109 43,653 43,075 34,608
Cost of products sold, excluding amortization of intangible assets (18,706) (17,975) (19,142) (18,537) (15,003)
Amortization of intangible assets (1,878) (1,966) (2,013) (2,047) (2,132)
Gross profit 21,366 20,168 22,498 22,491 17,473
Research and development (2,844) (2,741) (2,888) (2,742) (2,420)
Selling, general and administrative (11,697) (10,949) (11,248) (11,324) (9,696)
Operating earnings 6,825 6,478 8,362 8,425 5,357
Interest expense (559) (637) (558) (533) (546)
Interest income 344 385 183 43 46
Net foreign exchange gain (loss) 27 (41) (2) (1) 8
Other income, net 376 479 321 277 103
Earnings from continuing operations before taxes 7,013 6,664 8,306 8,211 4,968
Taxes on earnings from continuing operations 6,389 (941) (1,373) (1,140) (497)
Earnings from continuing operations 13,402 5,723 6,933 7,071 4,471
Net earnings from discontinued operations, net of taxes 24
Net earnings 13,402 5,723 6,933 7,071 4,495

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).

Income statement item Description The company
Net sales 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. Abbott Laboratories net sales 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. Abbott Laboratories operating earnings decreased from 2022 to 2023 but then slightly increased from 2023 to 2024.
Earnings from continuing operations before taxes 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. Abbott Laboratories earnings from continuing operations before taxes decreased from 2022 to 2023 but then slightly increased from 2023 to 2024.
Net earnings The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Abbott Laboratories net earnings decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.