Summary of Selected Financial Data
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(dollars in millions, except per share data) |
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Year Ended December 31 |
2011 |
2010 |
2009 |
2008 |
2007 |
2006 |
2005 |
2004 |
2003 |
2002 |
2001 |
Summary of Operations: |
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Net Sales |
$38,851.3 |
35,166.7 |
30,764.7 |
29,527.6 |
25,914.2 |
22,476.3 |
22,337.8 |
19,680.0 |
17,280.3 |
15,279.5 |
13,918.5 |
Cost of products sold |
$15,540.6 |
14,665.2 |
13,209.3 |
12,612.0 |
11,422.0 |
9,815.1 |
10,641.1 |
8,884.2 |
7,774.2 |
6,820.5 |
6,107.1 |
Research and development (a) |
$4,129.4 |
3,724.4 |
2,743.7 |
2,688.1 |
2,505.6 |
2,255.3 |
1,821.2 |
1,696.8 |
1,623.8 |
1,474.5 |
1,491.8 |
Selling, general and administrative |
$12,756.8 |
10,376.3 |
8,405.9 |
8,435.6 |
7,408.0 |
6,349.7 |
5,496.1 |
4,921.8 |
4,808.1 |
3,724.9 |
3,491.0 |
Operating earnings |
$5,751.9 |
6,087.6 |
6,235.7 |
5,693.8 |
4,578.5 |
2,042.2 |
4,362.3 |
3,898.3 |
2,974.0 |
3,151.9 |
1,498.2 |
Interest expense |
$530.1 |
553.1 |
519.7 |
528.5 |
593.1 |
416.2 |
241.4 |
200.2 |
188.3 |
238.9 |
307.3 |
Interest income |
$(85.2) |
(105.5) |
(137.8) |
(201.2) |
(136.8) |
(123.8) |
(87.7) |
(51.1) |
(41.9) |
(33.5) |
(71.4) |
Other (income), net |
$158.6 |
(62.0) |
(1,375.5) |
(489.7) |
(347.5) |
(526.5) |
(411.3) |
(376.4) |
(559.5) |
(374.4) |
(231.3) |
Earnings from continuing operations before taxes |
$5,198.6 |
5,712.8 |
7,193.8 |
5,856.3 |
4,469.6 |
2,276.4 |
4,619.9 |
4,125.6 |
3,387.2 |
3,321.0 |
1,493.6 |
Taxes on earnings from continuing operations |
$470.2 |
1,086.7 |
1,447.9 |
1,122.1 |
863.3 |
559.6 |
1,247.9 |
949.8 |
882.4 |
774.0 |
215.9 |
Earnings from continuing operations |
$4,728.4 |
4,626.2 |
5,745.8 |
4,734.2 |
3,606.3 |
1,716.8 |
3,372.1 |
3,175.8 |
2,504.7 |
2,547.0 |
1,277.7 |
Basic earnings per share from continuing operations |
$3.03 |
2.98 |
3.71 |
3.06 |
2.34 |
1.12 |
2.17 |
2.03 |
1.60 |
1.63 |
0.82 |
Diluted earnings per share from continuing operations |
$3.01 |
2.96 |
3.69 |
3.03 |
2.31 |
1.12 |
2.16 |
2.02 |
1.59 |
1.62 |
0.82 |
Financial Position: |
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Working capital |
$8,288.5 |
5,055.1 |
10,264.4 |
5,106.8 |
4,939.5 |
(669.3) |
3,970.5 |
3,908.8 |
2,650.9 |
2,119.6 |
492.4 |
Long-term investments |
$378.2 |
302.0 |
1,132.9 |
1,073.7 |
1,125.3 |
1,229.9 |
134.0 |
145.8 |
406.4 |
250.8 |
647.2 |
Net property and equipment |
$7,874.0 |
7,971.0 |
7,619.5 |
7,219.2 |
7,518.1 |
6,946.4 |
6,003.1 |
6,007.9 |
6,281.8 |
5,828.1 |
5,551.5 |
Total assets |
$60,276.9 |
60,573.9 |
52,581.6 |
42,419.2 |
39,713.9 |
36,178.2 |
29,141.2 |
28,767.5 |
26,039.3 |
23,592.7 |
22,755.5 |
Long-term debt |
$12,039.8 |
12,523.5 |
11,266.3 |
8,713.3 |
9,487.8 |
7,009.7 |
4,571.5 |
4,787.9 |
3,452.3 |
4,274.0 |
4,335.5 |
Shareholders’ investment |
$24,526.1 |
22,765.1 |
23,187.4 |
17,518.7 |
17,823.9 |
14,054.2 |
14,415.3 |
14,325.8 |
13,072.3 |
10,664.6 |
9,059.4 |
Return on shareholders’ investment from continuing operations |
%20.0 |
20.4 |
28.4 |
26.9 |
22.7 |
12.1 |
23.5 |
23.8 |
22.6 |
28.0 |
15.9 |
Book value per share |
$15.62 |
14.53 |
14.76 |
11.26 |
11.47 |
9.14 |
9.37 |
9.18 |
8.36 |
6.82 |
5.83 |
Other Statistics: |
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Gross profit margin |
%60.0 |
58.3 |
57.1 |
57.3 |
55.9 |
56.3 |
52.4 |
54.9 |
55.0 |
55.4 |
56.1 |
Research and development to net sales |
%10.6 |
10.6 |
8.9 |
9.1 |
9.7 |
10.0 |
8.2 |
8.6 |
9.4 |
9.7 |
10.7 |
Net cash from operating activities of continuing operations |
$8,970.1 |
8,736.0 |
7,275.2 |
6,994.6 |
5,183.8 |
5,262.1 |
5,047.4 |
4,306.0 |
3,385.2 |
3,653.5 |
3,083.7 |
Capital expenditures |
$1,491.5 |
1,015.1 |
1,089.0 |
1,287.7 |
1,656.2 |
1,337.8 |
1,207.5 |
1,291.6 |
1,050.1 |
1,105.4 |
963.6 |
Cash dividends declared per common share |
$1.92 |
1.76 |
1.60 |
1.44 |
1.30 |
1.18 |
1.10 |
1.04 |
0.98 |
0.94 |
0.84 |
Common shares outstanding (in thousands) |
1,570,379 |
1,546,984 |
1,551,168 |
1,552,433 |
1,549,910 |
1,537,243 |
1,539,235 |
1,560,024 |
1,564,518 |
1,563,068 |
1,554,530 |
Number of common shareholders |
62,939 |
64,413 |
67,461 |
69,733 |
73,176 |
77,727 |
82,237 |
88,582 |
91,212 |
94,687 |
97,760 |
Number of employees |
91,922 |
91,440 |
72,868 |
68,838 |
68,697 |
66,663 |
59,735 |
60,617 |
58,181 |
57,819 |
56,426 |
Sales per employee (in dollars) |
$422,655 |
384,588 |
422,198 |
428,943 |
377,225 |
337,163 |
373,948 |
324,662 |
297,010 |
264,265 |
246,668 |
Market price per share – high |
$56.44 |
56.79 |
57.39 |
61.09 |
59.50 |
49.87 |
50.00 |
47.63 |
47.15 |
58.00 |
57.17 |
Market price per share – low |
$45.07 |
44.59 |
41.27 |
45.75 |
48.75 |
39.18 |
37.50 |
38.26 |
33.75 |
29.80 |
42.00 |
Market price per share – close |
$56.23 |
47.91 |
53.99 |
53.37 |
56.15 |
48.71 |
39.43 |
46.65 |
46.60 |
40.00 |
55.75 |
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(a) In 2011, 2010, 2009, 2006, 2005, 2004, 2003, 2002 and 2001 Abbott also recorded pretax charges of $673, $313, $170, $2,014, $17, $279, $100, $108 and $1,330, respectively, for acquired in-process research and development related to business acquisitions.
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