Analysis of Reportable Segments
Abbott Laboratories operates in 4 segments: Established Pharmaceutical Products; Nutritional Products; Diagnostic Products; and Medical Devices.
Segment Profit Margin
Abbott Laboratories, profit margin by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Established Pharmaceutical Products | 23.81% | 21.36% | 18.84% | 18.45% | 20.15% |
| Nutritional Products | 16.35% | 9.47% | 21.26% | 22.90% | 23.01% |
| Diagnostic Products | 24.36% | 40.20% | 39.99% | 34.47% | 24.79% |
| Medical Devices | 31.42% | 30.02% | 31.42% | 25.77% | 30.79% |
Based on: 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), 10-K (reporting date: 2019-12-31).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Established Pharmaceutical Products | Established Pharmaceutical Products segment profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
| Nutritional Products | Nutritional Products segment profit margin ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. | |
| Diagnostic Products | Diagnostic Products segment profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. | |
| Medical Devices | Medical Devices segment profit margin ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Segment Profit Margin: Established Pharmaceutical Products
Abbott Laboratories; Established Pharmaceutical Products; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating earnings | 1,206) | 1,049) | 889) | 794) | 904) |
| Net sales | 5,066) | 4,912) | 4,718) | 4,303) | 4,486) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 23.81% | 21.36% | 18.84% | 18.45% | 20.15% |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment profit margin = 100 × Operating earnings ÷ Net sales
= 100 × 1,206 ÷ 5,066 = 23.81%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Established Pharmaceutical Products | Established Pharmaceutical Products segment profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Profit Margin: Nutritional Products
Abbott Laboratories; Nutritional Products; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating earnings | 1,333) | 706) | 1,763) | 1,751) | 1,705) |
| Net sales | 8,154) | 7,459) | 8,294) | 7,647) | 7,409) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 16.35% | 9.47% | 21.26% | 22.90% | 23.01% |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment profit margin = 100 × Operating earnings ÷ Net sales
= 100 × 1,333 ÷ 8,154 = 16.35%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Nutritional Products | Nutritional Products segment profit margin ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. |
Segment Profit Margin: Diagnostic Products
Abbott Laboratories; Diagnostic Products; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating earnings | 2,433) | 6,667) | 6,256) | 3,725) | 1,912) |
| Net sales | 9,988) | 16,584) | 15,644) | 10,805) | 7,713) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 24.36% | 40.20% | 39.99% | 34.47% | 24.79% |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment profit margin = 100 × Operating earnings ÷ Net sales
= 100 × 2,433 ÷ 9,988 = 24.36%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Diagnostic Products | Diagnostic Products segment profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Segment Profit Margin: Medical Devices
Abbott Laboratories; Medical Devices; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating earnings | 5,306) | 4,409) | 4,514) | 3,038) | 3,769) |
| Net sales | 16,887) | 14,687) | 14,367) | 11,787) | 12,239) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 31.42% | 30.02% | 31.42% | 25.77% | 30.79% |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment profit margin = 100 × Operating earnings ÷ Net sales
= 100 × 5,306 ÷ 16,887 = 31.42%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Medical Devices | Medical Devices segment profit margin ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Segment Return on Assets (Segment ROA)
Abbott Laboratories, ROA by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Established Pharmaceutical Products | 38.68% | 36.39% | 31.88% | 27.49% | 31.63% |
| Nutritional Products | 31.22% | 19.48% | 51.47% | 50.35% | 52.08% |
| Diagnostic Products | 31.32% | 83.49% | 81.26% | 48.40% | 36.52% |
| Medical Devices | 58.77% | 56.21% | 62.17% | 44.07% | 56.76% |
Based on: 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), 10-K (reporting date: 2019-12-31).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Established Pharmaceutical Products | Established Pharmaceutical Products segment ROA improved from 2021 to 2022 and from 2022 to 2023. |
| Nutritional Products | Nutritional Products segment ROA deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. | |
| Diagnostic Products | Diagnostic Products segment ROA improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. | |
| Medical Devices | Medical Devices segment ROA deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Segment ROA: Established Pharmaceutical Products
Abbott Laboratories; Established Pharmaceutical Products; segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating earnings | 1,206) | 1,049) | 889) | 794) | 904) |
| Total assets | 3,118) | 2,883) | 2,789) | 2,888) | 2,858) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 38.68% | 36.39% | 31.88% | 27.49% | 31.63% |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment ROA = 100 × Operating earnings ÷ Total assets
= 100 × 1,206 ÷ 3,118 = 38.68%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Established Pharmaceutical Products | Established Pharmaceutical Products segment ROA improved from 2021 to 2022 and from 2022 to 2023. |
Segment ROA: Nutritional Products
Abbott Laboratories; Nutritional Products; segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating earnings | 1,333) | 706) | 1,763) | 1,751) | 1,705) |
| Total assets | 4,270) | 3,625) | 3,425) | 3,478) | 3,274) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 31.22% | 19.48% | 51.47% | 50.35% | 52.08% |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment ROA = 100 × Operating earnings ÷ Total assets
= 100 × 1,333 ÷ 4,270 = 31.22%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Nutritional Products | Nutritional Products segment ROA deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Segment ROA: Diagnostic Products
Abbott Laboratories; Diagnostic Products; segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating earnings | 2,433) | 6,667) | 6,256) | 3,725) | 1,912) |
| Total assets | 7,767) | 7,985) | 7,699) | 7,696) | 5,235) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 31.32% | 83.49% | 81.26% | 48.40% | 36.52% |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment ROA = 100 × Operating earnings ÷ Total assets
= 100 × 2,433 ÷ 7,767 = 31.32%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Diagnostic Products | Diagnostic Products segment ROA improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Segment ROA: Medical Devices
Abbott Laboratories; Medical Devices; segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating earnings | 5,306) | 4,409) | 4,514) | 3,038) | 3,769) |
| Total assets | 9,029) | 7,844) | 7,261) | 6,893) | 6,640) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 58.77% | 56.21% | 62.17% | 44.07% | 56.76% |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment ROA = 100 × Operating earnings ÷ Total assets
= 100 × 5,306 ÷ 9,029 = 58.77%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Medical Devices | Medical Devices segment ROA deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Segment Asset Turnover
Abbott Laboratories, asset turnover by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Established Pharmaceutical Products | 1.62 | 1.70 | 1.69 | 1.49 | 1.57 |
| Nutritional Products | 1.91 | 2.06 | 2.42 | 2.20 | 2.26 |
| Diagnostic Products | 1.29 | 2.08 | 2.03 | 1.40 | 1.47 |
| Medical Devices | 1.87 | 1.87 | 1.98 | 1.71 | 1.84 |
Based on: 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), 10-K (reporting date: 2019-12-31).
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Established Pharmaceutical Products | Established Pharmaceutical Products segment asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
| Nutritional Products | Nutritional Products segment asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. | |
| Diagnostic Products | Diagnostic Products segment asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. | |
| Medical Devices | Medical Devices segment asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Asset Turnover: Established Pharmaceutical Products
Abbott Laboratories; Established Pharmaceutical Products; segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales | 5,066) | 4,912) | 4,718) | 4,303) | 4,486) |
| Total assets | 3,118) | 2,883) | 2,789) | 2,888) | 2,858) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 1.62 | 1.70 | 1.69 | 1.49 | 1.57 |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment asset turnover = Net sales ÷ Total assets
= 5,066 ÷ 3,118 = 1.62
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Established Pharmaceutical Products | Established Pharmaceutical Products segment asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Segment Asset Turnover: Nutritional Products
Abbott Laboratories; Nutritional Products; segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales | 8,154) | 7,459) | 8,294) | 7,647) | 7,409) |
| Total assets | 4,270) | 3,625) | 3,425) | 3,478) | 3,274) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 1.91 | 2.06 | 2.42 | 2.20 | 2.26 |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment asset turnover = Net sales ÷ Total assets
= 8,154 ÷ 4,270 = 1.91
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Nutritional Products | Nutritional Products segment asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Asset Turnover: Diagnostic Products
Abbott Laboratories; Diagnostic Products; segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales | 9,988) | 16,584) | 15,644) | 10,805) | 7,713) |
| Total assets | 7,767) | 7,985) | 7,699) | 7,696) | 5,235) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 1.29 | 2.08 | 2.03 | 1.40 | 1.47 |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment asset turnover = Net sales ÷ Total assets
= 9,988 ÷ 7,767 = 1.29
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Diagnostic Products | Diagnostic Products segment asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Segment Asset Turnover: Medical Devices
Abbott Laboratories; Medical Devices; segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales | 16,887) | 14,687) | 14,367) | 11,787) | 12,239) |
| Total assets | 9,029) | 7,844) | 7,261) | 6,893) | 6,640) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 1.87 | 1.87 | 1.98 | 1.71 | 1.84 |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment asset turnover = Net sales ÷ Total assets
= 16,887 ÷ 9,029 = 1.87
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Medical Devices | Medical Devices segment asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Capital Expenditures to Depreciation
Abbott Laboratories, capital expenditures to depreciation by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Established Pharmaceutical Products | 1.78 | 1.80 | 1.80 | 1.24 | 1.11 |
| Nutritional Products | 2.95 | 1.62 | 1.15 | 1.41 | 1.01 |
| Diagnostic Products | 1.50 | 1.68 | 1.29 | 2.59 | 1.80 |
| Medical Devices | 1.92 | 1.08 | 1.22 | 1.43 | 2.00 |
Based on: 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), 10-K (reporting date: 2019-12-31).
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Established Pharmaceutical Products | Established Pharmaceutical Products segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
| Nutritional Products | Nutritional Products segment capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023. | |
| Diagnostic Products | Diagnostic Products segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. | |
| Medical Devices | Medical Devices segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Segment Capital Expenditures to Depreciation: Established Pharmaceutical Products
Abbott Laboratories; Established Pharmaceutical Products; segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Additions to property and equipment | 185) | 175) | 169) | 109) | 109) |
| Depreciation | 104) | 97) | 94) | 88) | 98) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.78 | 1.80 | 1.80 | 1.24 | 1.11 |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment capital expenditures to depreciation = Additions to property and equipment ÷ Depreciation
= 185 ÷ 104 = 1.78
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Established Pharmaceutical Products | Established Pharmaceutical Products segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: Nutritional Products
Abbott Laboratories; Nutritional Products; segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Additions to property and equipment | 457) | 251) | 174) | 201) | 141) |
| Depreciation | 155) | 155) | 151) | 143) | 139) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 2.95 | 1.62 | 1.15 | 1.41 | 1.01 |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment capital expenditures to depreciation = Additions to property and equipment ÷ Depreciation
= 457 ÷ 155 = 2.95
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Nutritional Products | Nutritional Products segment capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: Diagnostic Products
Abbott Laboratories; Diagnostic Products; segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Additions to property and equipment | 750) | 832) | 980) | 1,263) | 726) |
| Depreciation | 499) | 494) | 760) | 488) | 403) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.50 | 1.68 | 1.29 | 2.59 | 1.80 |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment capital expenditures to depreciation = Additions to property and equipment ÷ Depreciation
= 750 ÷ 499 = 1.50
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Diagnostic Products | Diagnostic Products segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: Medical Devices
Abbott Laboratories; Medical Devices; segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Additions to property and equipment | 604) | 335) | 348) | 402) | 532) |
| Depreciation | 315) | 311) | 285) | 281) | 266) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.92 | 1.08 | 1.22 | 1.43 | 2.00 |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment capital expenditures to depreciation = Additions to property and equipment ÷ Depreciation
= 604 ÷ 315 = 1.92
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Medical Devices | Medical Devices segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Net sales
Abbott Laboratories, net sales by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Established Pharmaceutical Products | 5,066) | 4,912) | 4,718) | 4,303) | 4,486) |
| Nutritional Products | 8,154) | 7,459) | 8,294) | 7,647) | 7,409) |
| Diagnostic Products | 9,988) | 16,584) | 15,644) | 10,805) | 7,713) |
| Medical Devices | 16,887) | 14,687) | 14,367) | 11,787) | 12,239) |
| Total reportable segments | 40,095) | 43,642) | 43,023) | 34,542) | 31,847) |
Based on: 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), 10-K (reporting date: 2019-12-31).
Operating earnings
Abbott Laboratories, operating earnings by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Established Pharmaceutical Products | 1,206) | 1,049) | 889) | 794) | 904) |
| Nutritional Products | 1,333) | 706) | 1,763) | 1,751) | 1,705) |
| Diagnostic Products | 2,433) | 6,667) | 6,256) | 3,725) | 1,912) |
| Medical Devices | 5,306) | 4,409) | 4,514) | 3,038) | 3,769) |
| Total reportable segments | 10,278) | 12,831) | 13,422) | 9,308) | 8,290) |
Based on: 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), 10-K (reporting date: 2019-12-31).
Depreciation
Abbott Laboratories, depreciation by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Established Pharmaceutical Products | 104) | 97) | 94) | 88) | 98) |
| Nutritional Products | 155) | 155) | 151) | 143) | 139) |
| Diagnostic Products | 499) | 494) | 760) | 488) | 403) |
| Medical Devices | 315) | 311) | 285) | 281) | 266) |
| Total reportable segments | 1,073) | 1,057) | 1,290) | 1,000) | 906) |
Based on: 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), 10-K (reporting date: 2019-12-31).
Additions to property and equipment
Abbott Laboratories, additions to property and equipment by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Established Pharmaceutical Products | 185) | 175) | 169) | 109) | 109) |
| Nutritional Products | 457) | 251) | 174) | 201) | 141) |
| Diagnostic Products | 750) | 832) | 980) | 1,263) | 726) |
| Medical Devices | 604) | 335) | 348) | 402) | 532) |
| Total reportable segments | 1,996) | 1,593) | 1,671) | 1,975) | 1,508) |
Based on: 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), 10-K (reporting date: 2019-12-31).
Total assets
Abbott Laboratories, total assets by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Established Pharmaceutical Products | 3,118) | 2,883) | 2,789) | 2,888) | 2,858) |
| Nutritional Products | 4,270) | 3,625) | 3,425) | 3,478) | 3,274) |
| Diagnostic Products | 7,767) | 7,985) | 7,699) | 7,696) | 5,235) |
| Medical Devices | 9,029) | 7,844) | 7,261) | 6,893) | 6,640) |
| Total reportable segments | 24,184) | 22,337) | 21,174) | 20,955) | 18,007) |
Based on: 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), 10-K (reporting date: 2019-12-31).