Financial statements English (PDF, 23 KB)

ABB Ltd Consolidated Income Statements
Year Ended
$ millions, except per share data (unaudited)
Sales of products
Sales of services
Total revenues
Cost of products
Cost of services
Total cost of sales
Gross profit
Selling, general and administrative expenses
Other income (expense), net
Earnings before interest and taxes
Interest and dividend income
Interest and other finance expense
Income from continuing operations before taxes
and minority interest
Provision for taxes
Minority interest
Income from continuing operations
Income (loss) from discontinued operations,
net of tax
Net income
Basic earnings (loss) per share
Income from continuing operations
Income (loss) from discontinued operations,
net of tax
Net income
Weighted average basic shares (in millions)
Diluted earnings (loss) per share
Income from continuing operations
Income (loss) from discontinued operations,
net of tax
Net income
Weighted average dilutive shares (in millions)
Three Months Ended
Dec. 31, 2008
29,705
5,207
34,912
(20,506)
(3,466)
(23,972)
10,940
(5,822)
(566)
4,552
315
(349)
Dec. 31, 2007
24,816
4,367
29,183
(17,292)
(2,923)
(20,215)
8,968
(4,975)
30
4,023
273
(286)
Dec. 31, 2008
7,779
1,361
9,140
(5,597)
(946)
(6,543)
2,597
(1,502)
(636)
459
65
(210)
Dec. 31, 2007
7,384
1,329
8,713
(5,192)
(898)
(6,090)
2,623
(1,446)
(32)
1,145
90
(62)
4,518
(1,119)
(260)
3,139
4,010
(595)
(244)
3,171
314
(5)
(76)
233
1,173
113
(87)
1,199
(21)
3,118
586
3,757
(20)
213
554
1,753
1.37
1.40
0.10
0.52
(0.01)
1.36
2,287
0.26
1.66
2,258
(0.01)
0.09
2,283
0.24
0.76
2,294
1.37
1.38
0.10
0.52
(0.01)
1.36
2,296
0.25
1.63
2,308
(0.01)
0.09
2,285
0.24
0.76
2,311
ABB Ltd Consolidated Balance Sheets
$ millions, except share data (unaudited)
Dec. 31, 2008
Dec. 31, 2007
Cash and equivalents
Marketable securities and short-term investments
Receivables, net
Inventories, net
Prepaid expenses
Deferred taxes
Other current assets
Assets held for sale and in discontinued operations
Total current assets
6,399
1,407
9,245
5,306
237
1,020
733
24,347
4,650
3,460
8,582
4,863
307
783
368
132
23,145
Financing receivables, net
Property, plant and equipment, net
Goodwill
Other intangible assets, net
Prepaid pension and other employee benefits
Investments in equity method companies
Deferred taxes
Other non-current assets
Total assets
445
3,562
2,817
411
73
68
1,190
268
33,181
487
3,246
2,421
270
380
63
862
127
31,001
Accounts payable, trade
Billings in excess of sales
Accounts payable, other
Short-term debt and current maturities of long-term debt
Advances from customers
Deferred taxes
Provisions for warranties
Provisions and other
Accrued expenses
Liabilities held for sale and in discontinued operations
Total current liabilities
4,451
1,224
1,292
354
2,014
528
1,105
3,467
1,569
16,004
4,167
829
1,289
536
2,045
371
1,121
2,322
1,737
62
14,479
Long-term debt
Pension and other employee benefits
Deferred taxes
Other liabilities
Total liabilities
2,009
1,071
425
1,902
21,411
2,138
631
407
1,797
19,452
612
592
Minority interest
Stockholders' equity:
Capital stock and additional paid-in capital
Retained earnings
Accumulated other comprehensive loss
Less: Treasury stock, at cost (40,108,014 and 18,725,475 shares
at December 31, 2008 and December 31, 2007)
Total stockholders' equity
Total liabilities and stockholders' equity
4,695
10,073
(2,710)
5,634
6,955
(1,330)
(900)
11,158
33,181
(302)
10,957
31,001
ABB Ltd Consolidated Statements of Cash Flows
Year Ended
$ millions (unaudited)
Operating activities
Net income
Adjustments to reconcile net income to net cash provided by
operating activities:
Depreciation and amortization
Pension and postretirement benefits
Deferred taxes
Net gain from sale of property, plant and equipment
Income from equity accounted companies
Minority interest
Loss (gain) on sale of discontinued operations
Other
Changes in operating assets and liabilities:
Trade receivables
Inventories
Trade payables
Billings in excess of sales
Provisions, net
Advances from customers
Other assets and liabilities, net
Net cash provided by operating activities
Investing activities
Changes in financing receivables
Purchases of marketable securities (other than trading) and
short-term investments
Purchases of property, plant and equipment and intangible
assets
Acquisition of businesses (net of cash acquired)
Proceeds from sales of marketable securities (other than
trading) and short-term investments
Proceeds from sales of property, plant and equipment
Proceeds from sales of businesses and equity accounted
companies (net of cash disposed)
Net cash provided by (used in) investing activities
Dec. 31, 2008
3,118
Three Months Ended
Dec. 31, 2007
3,757
Dec. 31, 2008
213
Dec. 31, 2007
1,753
661
43
(199)
(49)
(15)
261
232
602
(61)
(351)
(46)
(55)
246
(541)
132
178
(3)
(421)
(15)
(3)
77
168
167
(43)
(408)
(22)
(5)
88
(541)
24
(1,266)
(800)
522
539
677
130
104
3,958
(1,323)
(551)
530
374
(362)
411
292
3,054
(73)
217
121
105
814
(219)
236
1,395
(286)
258
108
243
(166)
63
236
1,469
7
56
8
(1)
(3,626)
(10,115)
(796)
(2,843)
(1,171)
(653)
(756)
(54)
(435)
(101)
(288)
(10)
5,417
94
1,141
49
678
31
1,142
(2,291)
(134)
790
(1,643)
(19)
210
(247)
241
(199)
(449)
(117)
(45)
(625)
(42)
135
(145)
(15)
(3)
(60)
(130)
(15)
64
(80)
88
1
(17)
41
(230)
275
(79)
76
26
39
-
54
Net change in cash and equivalents - continuing operations
1,749
452
1,052
(3)
Cash and equivalents beginning of period
Cash and equivalents end of period
4,650
6,399
4,198
4,650
5,347
6,399
4,653
4,650
244
1,065
246
780
70
272
70
152
-
843
-
-
Financing activities
Net changes in debt with maturities of 90 days or less
Increase in debt
Repayment of debt
Issuance of shares
Purchase of treasury shares
Dividends paid
Dividends paid to minority shareholders
Other
Net cash provided by (used in) financing activities
Effects of exchange rate changes on cash and equivalents
Adjustment for the net change in cash and equivalents in assets
held for sale and in discontinued operations
46
114
7,361
75
(10)
458
(786)
49
(621)
(1,060)
(152)
3
(2,119)
Supplementary disclosure of cash flow information
Interest paid
Taxes paid
Carrying value of debt and accrued interest converted into
capital stock
rs'
equ
ity
toc
kho
lde
toc
k
To
tal
s
Tre
asu
ry s
To
tal
com accu
pre mula
hen
te
siv d oth
e lo
e
ss r
Un
rea
cas lized
h flo ga
w h in (lo
ss
edg
e d ) of
eriv
ativ
es
Un
rea
ava lized
ilab
g
le-fo ain (lo
r-sa ss)
le s on
ecu
ritie
s
Pe
nsio
pos n an
tret
do
adju irem ther
stm ent
ents plan
For
eig
adju n cu
stm rrenc
ent
y tr
ans
la
Re
tain
ear ed
nin
gs
Ca
pit
paid al sto
ck
-in
cap and
add
ital
itio
nal
$ millions (unaudited)
Balance at January 1, 2007
tion
Accumulated other comprehensive loss
4,514
3,647
(1,462)
(2)
(629)
74
(2,019)
(104)
6,038
--
3,757
--
--
--
--
--
--
3,757
--
--
505
--
--
--
505
--
505
--
--
51
--
--
--
51
--
51
--
--
--
9
--
--
9
--
9
--
--
--
--
59
--
59
--
59
--
--
--
--
84
--
84
--
84
--
--
--
--
--
(19)
(19)
--
(19)
Treasury share transactions
(1)
--
--
--
--
--
--
(198)
(199)
Dividends paid
--
(449)
--
--
--
--
--
--
(449)
Conversion of convertible bonds
830
--
--
--
--
--
--
--
830
Issuance of shares
241
--
--
--
--
--
--
--
241
45
--
--
--
--
--
--
--
45
5
--
--
--
--
--
--
--
5
5,634
6,955
(906)
7
(486)
55
(1,330)
(302)
10,957
Comprehensive income:
Net income
Foreign currency translation
adjustments
Foreign currency translation adjustments
related to divestments of businesses
Effect of change in fair value of available-for-sale
securities, net of tax
Unrecognized income related to pensions and other
postretirement plans, net of tax
Adjustments related to pensions and other
postretirement plans allocated to divestments of
businesses, net of tax
Change in derivatives qualifying as cash flow
hedges, net of tax
Total comprehensive income
4,446
Share-based payment arrangements
Call options
Balance at December 31, 2007
Comprehensive income:
Net income
Foreign currency translation
adjustments
Foreign currency translation adjustments
related to divestments of businesses
Effect of change in fair value of available-for-sale
securities, net of tax
Unrecognized income (loss) related to pensions and
other postretirement plans, net of tax
Change in derivatives qualifying
as cash flow hedges,
net of tax
(906)
7
(486)
55
(1,330)
To
tal
equ stock
ho
ity
lde
rs'
toc
k
Tre
asu
ry s
To
tal
com accu
pre mula
hen
te
siv d oth
e lo
e
ss r
Un
rea
cas lized
h
g
der flow h ain (lo
iva
tive edge ss) of
s
Pe
ns
pos ion an
tr
d
adju etirem other
stm ent
ents plan
Un
rea
ava lized
ila
g
sec ble-fo ain (lo
urit
s
r
ies -sale s) on
ent
For
eig
tran n cu
rr
sla
tion ency
adju
stm
Re
tain
ear ed
nin
gs
$ millions (unaudited)
Balance at January 1, 2008
Ca
pit
add al sto
c
itio
nal k and
paid
-in
c
apit
al
Accumulated other comprehensive loss
5,634
6,955
(302)
10,957
--
3,118
--
--
--
--
--
--
(754)
--
--
--
--
--
3,118
(754)
--
(754)
--
--
6
--
--
--
6
--
6
--
--
--
76
--
--
76
--
76
--
--
--
--
(492)
--
(492)
--
(492)
--
--
--
--
--
(216)
(216)
--
Total comprehensive income
Dividends paid in the form of nominal value reduction
(216)
1,738
(1,060)
--
--
--
--
--
--
--
(21)
--
--
--
--
--
--
21
--
--
--
--
--
--
--
--
(619)
(619)
Issuance of shares
49
--
--
--
--
--
--
--
49
Share-based payment arrangements
63
--
--
--
--
--
--
--
63
Call options
30
--
--
--
--
--
--
--
30
4,695
10,073
(1,654)
83
(978)
(161)
(2,710)
(900)
11,158
Treasury share transactions
Shares repurchased under buyback program
Balance at December 31, 2008
(1,060)