UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM
CURRENT REPORT
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Securities Exchange Act of 1934
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| Item 2.02 | Results of Operations and Financial Condition |
On July 16, 2020, Abbott Laboratories announced its results of operations for the second quarter 2020.
Furnished as Exhibit 99.1, and incorporated herein by reference, is the news release issued by Abbott announcing those results. In that news release, Abbott uses various non-GAAP financial measures including, among others, net earnings from continuing operations excluding specified items. These non-GAAP financial measures adjust for factors that are unusual or unpredictable, such as expenses primarily associated with acquisitions and restructuring actions, charges related to cost reduction initiatives, the acquisition of R&D assets, charges related to impairment of certain assets, and tax benefits associated with specified items, a reduction in the transition tax associated with the Tax Cuts and Jobs Act, tax benefits associated with the resolution of various tax positions related to prior years and excess tax benefits associated with share-based compensation. These non-GAAP financial measures also exclude intangible amortization expense to provide greater visibility on the results of operations excluding these costs, similar to how Abbott’s management internally assesses performance. Abbott’s management believes the presentation of these non-GAAP financial measures provides useful information to investors regarding Abbott’s results of operations as these non-GAAP financial measures allow investors to better evaluate ongoing business performance. Abbott’s management also uses these non-GAAP financial measures internally to monitor performance of the businesses. Abbott, however, cautions investors to consider these non-GAAP financial measures in addition to, and not as a substitute for, financial measures prepared in accordance with GAAP.
| Item 9.01 | Financial Statements and Exhibits |
| Exhibit No. | Exhibit | |
| 99.1 | Press Release dated July 16, 2020 (furnished pursuant to Item 2.02). | |
| 104 | Cover Page Interactive Data File (the cover page XBRL tags are embedded in the Inline XBRL document). |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ABBOTT LABORATORIES | ||
| Date: July 16, 2020 | By: | /s/ Robert E. Funck, Jr. |
| Robert E. Funck, Jr. | ||
| Executive Vice President, Finance and Chief Financial Officer | ||