ABB Ltd Interim Consolidated Income Statements (unaudited)
Three months ended
($ in millions, except per share data in $)
Mar. 31, 2014
Mar. 31, 2013
7,937
1,534
9,471
(5,794)
(950)
(6,744)
2,727
(1,507)
(365)
855
17
(84)
788
(225)
563
(1)
562
(18)
544
8,191
1,524
9,715
(5,910)
(954)
(6,864)
2,851
(1,449)
(361)
11
1,052
18
(97)
973
(277)
696
(4)
692
(28)
664
Amounts attributable to ABB shareholders:
Income from continuing operations, net of tax
Net income
545
544
668
664
Basic earnings per share attributable to ABB shareholders:
Income from continuing operations, net of tax
Net income
0.24
0.24
0.29
0.29
Diluted earnings per share attributable to ABB shareholders:
Income from continuing operations, net of tax
Net income
0.24
0.24
0.29
0.29
2,301
2,311
2,296
2,303
Sales of products
Sales of services
Total rev enues
Cost of products
Cost of services
Total cost of sales
Gross profit
Selling, general and administrative expenses
Non-order related research and development expenses
Other income (expense), net
Income from operations
Interest and dividend income
Interest and other finance expense
Income from continuing operations before taxes
Provision for taxes
Income from continuing operations, net of tax
Loss from discontinued operations, net of tax
Net income
Net income attributable to noncontrolling interests
Net income attributable to ABB
Weighted-average number of shares outstanding (in millions) used to compute:
Basic earnings per share attributable to ABB shareholders
Diluted earnings per share attributable to ABB shareholders
See Notes to the Interim Consolidated Financial Information
ABB Ltd Interim Condensed Consolidated Statements of Comprehensive Income (unaudited)
Three months ended
($ in millions)
Total comprehensiv e income, net of tax
Total comprehensive income attributable to noncontrolling interests, net of tax
Total comprehensiv e income attributable to ABB shareholders, net of tax
See Notes to the Interim Consolidated Financial Information
Mar. 31, 2014
489
(15)
474
Mar. 31, 2013
309
(26)
283
ABB Ltd Interim Consolidated Balance Sheets (unaudited)
($ in millions, except share data)
Mar. 31, 2014
Dec. 31, 2013
Cash and equivalents
Marketable securities and short-term investments
Receivables, net
Inventories, net
Prepaid expenses
Deferred taxes
Other current assets
Total current assets
6,402
865
12,215
6,201
305
807
715
27,510
6,021
464
12,146
6,004
252
832
706
26,425
Property, plant and equipment, net
Goodwill
Other intangible assets, net
Prepaid pension and other employee benefits
Investments in equity-accounted companies
Deferred taxes
Other non-current assets
Total assets
6,171
10,600
3,120
96
192
398
706
48,793
6,254
10,670
3,297
93
197
370
758
48,064
Accounts payable, trade
Billings in excess of sales
Short-term debt and current maturities of long-term debt
Advances from customers
Deferred taxes
Provisions for warranties
Other provisions
Other current liabilities
Total current liabilities
4,872
1,539
1,435
1,780
259
1,307
1,759
4,042
16,993
5,112
1,714
453
1,726
259
1,362
1,807
4,242
16,675
Long-term debt
Pension and other employee benefits
Deferred taxes
Other non-current liabilities
Total liabilities
7,612
1,561
1,254
1,667
29,087
7,570
1,639
1,265
1,707
28,856
1,761
19,730
(2,082)
1,750
19,186
(2,012)
(236)
19,173
533
19,706
48,793
(246)
18,678
530
19,208
48,064
Commitments and contingencies
Stockholders' equity:
Capital stock and additional paid-in capital (2,314,743,264 issued shares at
March 31, 2014, and December 31, 2013)
Retained earnings
Accumulated other comprehensive loss
Treasury stock, at cost (13,531,610 and 14,093,960 shares at March 31, 2014,
and December 31, 2013, respectively)
Total ABB stockholders' equity
Noncontrolling interests
Total stockholders' equity
Total liabilities and stockholders' equity
See Notes to the Interim Consolidated Financial Information
ABB Ltd Interim Consolidated Statements of Cash Flows (unaudited)
Three months ended
($ in millions)
Operating activ ities:
Net income
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization
Pension and other employee benefits
Deferred taxes
Net gain from sale of property, plant and equipment
Other
Changes in operating assets and liabilities:
Trade receivables, net
Inventories, net
Trade payables
Accrued liabilities
Billings in excess of sales
Provisions, net
Advances from customers
Income taxes payable and receivable
Other assets and liabilities, net
Net cash used in operating activ ities
Mar. 31, 2014
Mar. 31, 2013
562
692
333
(28)
(13)
(8)
15
321
(11)
4
(9)
14
(106)
(223)
(201)
(217)
(158)
(99)
59
48
(9)
(45)
(504)
(248)
(197)
(192)
(71)
(28)
75
(67)
(2)
(223)
(84)
(438)
(203)
(173)
(5)
(216)
(3)
14
68
23
74
(549)
(26)
116
32
46
(226)
988
3
(13)
1
(7)
9
981
(507)
215
(523)
1
(1)
(15)
(3)
(833)
(6)
(138)
381
(1,420)
6,021
6,402
6,875
5,455
67
198
28
331
Inv esting activ ities:
Purchases of marketable securities (available-for-sale)
Purchases of short-term investments
Purchases of property, plant and equipment and intangible assets
Acquisition of businesses (net of cash acquired) and increases in cost and equity
investments
Proceeds from sales of marketable securities (available-for-sale)
Proceeds from maturity of marketable securities (available-for-sale)
Proceeds from short-term investments
Other investing activities
Net cash used in inv esting activ ities
Financing activ ities:
Net changes in debt with original maturities of 90 days or less
Increase in debt
Repayment of debt
Delivery of shares
Acquisition of noncontrolling interests
Dividends paid to noncontrolling shareholders
Other financing activities
Net cash prov ided by (used in) financing activ ities
Effects of exchange rate changes on cash and equivalents
Net change in cash and equiv alents - continuing operations
Cash and equivalents, beginning of period
Cash and equiv alents, end of period
Supplementary disclosure of cash flow information:
Interest paid
Taxes paid
See Notes to the Interim Consolidated Financial Information
ABB Ltd Interim Consolidated Statements of Changes in Stockholders' Equity (unaudited)
Balance at January 1, 2013
1,691
18,066
(580)
24
(2,004)
37
(2,523)
(328)
er
s' e
qu
ity
To
ta
l st
oc
kh
o ld
No
nc o
ntr
ol l
ing
inte
res
ts
To
ta
lA
BB
eq
sto
u it
y
ckh
ol d
er
s'
st o
ck
Tr
eas
ury
To
ta
l ac
cum
co
mp
ul a
reh
ted
en
oth
siv
er
el
os
s
ent
s
Un
rea
liz e
ca
dg
sh
ain
f lo
s(
wh
lo s
se
edg
s) o
ed
f
eri
v at
iv e
s
Pe
ns
ion
an
po
do
s tr
t he
et ir
r
em
ent
pla
na
dju
s tm
Un
rea
liz e
av
dg
aila
ain
s(
bl e
lo s
-fo
se
r-s
s) o
ale
n
s ec
ur
it ie
s
Fo
rei
gn
cu
ad
rre
jus
ncy
tm
tra
en
ns
ts
lati
on
Re
tain
ed
ea
rni
ng
s
($ in millions)
Ca
pit a
ls
t oc
in
ka
ca
nd
pita
l
ad
dit i
ona
l pa
id-
Accumulated other comprehensiv e loss
16,906
540
17,446
Comprehensive income:
Net income
664
Foreign currency translation adjustments (net of tax of $8)
(475)
664
28
692
(475)
(475)
(3)
(478)
(6)
(6)
90
90
Effect of change in fair value of available-for-sale securities
(net of tax of $(1))
(6)
(6)
Unrecognized income related to pensions and other
postretirement plans (net of tax of $26)
90
1
91
26
309
Change in derivatives qualifying as cash flow hedges (net of
tax of $2)
10
10
10
Total comprehensiv e income
Changes in noncontrolling interests
(11)
(11)
Dividends paid to noncontrolling shareholders
-
Share-based payment arrangements
14
Delivery of shares
(7)
Other
1
Balance at March 31, 2013
10
283
1,688
7
(4)
(26)
(26)
14
14
1
1
8
1
18,730
(1,055)
18
(1,914)
47
(2,904)
(320)
17,194
1
547
17,741
Balance at January 1, 2014
1,750
19,186
(431)
7
22
(2,012)
(246)
er
s' e
qu
ity
To
ta
l st
oc
kh
o ld
No
nc o
ntr
ol l
ing
inte
res
ts
To
ta
lA
BB
eq
sto
u it
y
ckh
ol d
er
s'
st o
ck
Tr
eas
ury
To
ta
l ac
cum
co
mp
ul a
reh
ted
en
oth
siv
er
el
os
s
ent
s
(1,610)
Un
rea
liz e
ca
dg
sh
ain
f lo
s(
wh
lo s
se
edg
s) o
ed
f
eri
v at
iv e
s
Pe
ns
ion
an
po
do
s tr
t he
et ir
r
em
ent
pla
na
dju
s tm
Un
rea
liz e
av
dg
aila
ain
s(
bl e
lo s
-fo
se
r-s
s) o
ale
n
s ec
ur
it ie
s
Fo
rei
gn
cu
ad
rre
jus
ncy
tm
tra
en
ns
ts
lati
on
Re
tain
ed
ea
rni
ng
s
($ in millions)
Ca
pit a
ls
t oc
in
ka
ca
nd
pita
l
ad
dit i
ona
l pa
id-
Accumulated other comprehensiv e loss
18,678
530
19,208
Comprehensive income:
Net income
544
Foreign currency translation adjustments (net of tax of $(3))
(73)
544
18
562
(73)
(73)
(3)
(76)
2
2
2
13
13
13
Effect of change in fair value of available-for-sale securities
(net of tax of $0)
2
Unrecognized income related to pensions and other
postretirement plans (net of tax of $6)
13
Change in derivatives qualifying as cash flow hedges (net of
tax of $(4))
(12)
(12)
(12)
Total comprehensiv e income
474
Dividends paid to noncontrolling shareholders
-
Share-based payment arrangements
20
Delivery of shares
(9)
Balance at March 31, 2014
See Notes to the Interim Consolidated Financial Information
1,761
(12)
15
489
(12)
(12)
20
10
19,730
(504)
9
(1,597)
10
(2,082)
(236)
20
1
19,173
1
533
19,706
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ABB Q1 2014 financial statements.pdf