Financial statements English (PDF, 24 KB)

ABB Ltd Interim Consolidated Income Statements (unaudited)
Nine months ended
(in millions of $, except per share data in $)
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
Provision for taxes
Income from continuing operations, net of tax
Income (loss) from discontinued operations, net of tax
Net income
Net income attributable to noncontrolling interests
Net income attributable to ABB
Amounts attributable to ABB shareholders:
Income from continuing operations, net of tax
Income (loss) from discontinued operations, net of tax
Net income
Sep. 30, 2009
19,522
3,512
23,034
(13,816)
(2,363)
(16,179)
6,855
(3,972)
445
3,328
93
(96)
3,325
(831)
2,494
26
2,520
(159)
2,361
Three months ended
Sep. 30, 2008
21,926
3,846
25,772
(14,909)
(2,520)
(17,429)
8,343
(4,320)
70
4,093
250
(139)
4,204
(1,114)
3,090
(1)
3,089
(184)
2,905
Sep. 30, 2009
6,713
1,197
7,910
(4,803)
(800)
(5,603)
2,307
(1,333)
445
1,419
25
(63)
1,381
(297)
1,084
4
1,088
(54)
1,034
Sep. 30, 2008
7,499
1,292
8,791
(5,241)
(844)
(6,085)
2,706
(1,432)
17
1,291
75
(62)
1,304
(331)
973
6
979
(52)
927
2,335
26
2,361
2,908
(3)
2,905
1,030
4
1,034
921
6
927
Basic earnings per share attributable to ABB shareholders:
Income from continuing operations, net of tax
Income (loss) from discontinued operations, net of tax
Net income
1.02
0.01
1.03
1.27
0.00
1.27
0.45
0.00
0.45
0.40
0.01
0.41
Diluted earnings per share attributable to ABB shareholders:
Income from continuing operations, net of tax
Income (loss) from discontinued operations, net of tax
Net income
1.02
0.01
1.03
1.26
0.00
1.26
0.45
0.00
0.45
0.40
0.00
0.40
2,283
2,286
2,289
2,301
2,283
2,289
2,285
2,294
Average number of shares (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 Consolidated Balance Sheets (unaudited)
(in millions of $, except share data)
Sep. 30, 2009
Dec. 31, 2008
Cash and equivalents
Marketable securities and short-term investments
Receivables, net
Inventories, net
Prepaid expenses
Deferred taxes
Other current assets
Total current assets
5,502
2,779
9,580
5,347
261
986
495
24,950
6,399
1,407
9,245
5,306
237
1,020
733
24,347
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
450
3,967
3,035
461
106
48
1,122
287
34,426
445
3,562
2,817
411
73
68
1,190
268
33,181
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 current liabilities
Accrued expenses
Total current liabilities
3,935
1,385
1,264
218
2,105
480
1,171
2,624
1,593
14,775
4,451
1,224
1,292
354
2,014
528
1,105
3,467
1,569
16,004
Long-term debt
Pension and other employee benefits
Deferred taxes
Other non-current liabilities
Total liabilities
2,219
1,128
417
1,959
20,498
2,009
1,071
425
1,902
21,411
3,893
12,288
(1,954)
4,841
9,927
(2,710)
(897)
13,330
598
13,928
34,426
(900)
11,158
612
11,770
33,181
Stockholders' equity:
Capital stock and additional paid-in capital
Retained earnings
Accumulated other comprehensive loss
Treasury stock, at cost (39,938,859 shares at September 30, 2009,
and 40,108,014 shares at December 31, 2008)
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)
Nine months ended
(in millions of $)
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 (loss) from equity accounted companies
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 (available-for-sale)
Purchases of marketable securities (held-to-maturity)
Purchases of 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 (available-for-sale)
Proceeds from maturity of marketable securities (available-for-sale)
Proceeds from maturity of marketable securities (held-to-maturity)
Proceeds from short-term investments
Proceeds from sales of property, plant and equipment
Proceeds from sales of businesses and equity accounted companies (net of
cash disposed)
Other
Net cash provided by (used in) investing activities
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 in the form of nominal value reduction
Dividends paid to noncontrolling shareholders
Other
Net cash 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
Net change in cash and equivalents - continuing operations
Cash and equivalents beginning of period
Cash and equivalents end of period
Supplementary disclosure of cash flow information:
Interest paid
Taxes paid
See Notes to the Interim Consolidated Financial Information
Sep. 30, 2009
2,520
Three months ended
Sep. 30, 2008
3,089
Sep. 30, 2009
1,088
Sep. 30, 2008
979
467
(1)
(11)
(11)
1
(13)
483
46
222
(34)
(12)
64
169
(10)
(10)
(2)
1
16
166
1
49
(6)
(4)
25
172
398
(703)
56
(370)
(18)
(243)
2,244
(1,193)
(1,017)
401
434
(137)
349
(132)
2,563
137
413
(198)
(14)
(433)
15
109
1,281
(311)
(454)
51
176
(39)
192
296
1,121
(2)
(81)
(799)
(2,071)
(624)
(155)
63
855
273
448
23
(1)
(420)
-(2,410)
(736)
(552)
80
--4,196
45
-(19)
(238)
(1,720)
(215)
(100)
21
-273
356
5
3
(300)
-(1,150)
(263)
(525)
25
---6
3
2
(1,632)
23
-(2,181)
(34)
123
(174)
3
-(1,027)
(85)
20
(1,174)
(59)
146
(157)
49
(161)
(1,060)
(46)
32
(1,256)
10
2
(2,058)
(28)
440
(523)
3
-(1,027)
(191)
(14)
(1,340)
46
-248
32
323
(641)
49
(606)
(1,060)
(149)
63
(1,989)
257
(151)
-(897)
26
697
205
(424)
-(1,320)
-(2,740)
6,399
5,502
4,650
5,347
6,822
5,502
8,087
5,347
122
829
175
793
37
275
63
236
ABB Ltd Interim Consolidated Statements of Changes in Stockholders' Equity (unaudited)
6,809
(486)
55
(1,330)
(302)
2,905
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 gain related to pensions and other
postretirement plans, net of tax
Change in derivatives qualifying as cash flow
hedges, net of tax
No
nco
nt
roll
in
Tot
al
equ stock
ho
ity
lde
rs
'
g in
tere
sts
lde
rs'
ho
Tot
al
equ ABB
sto
ity
ck
k
ry s
toc
asu
Tre
Tot
al
com accu
pre mula
hen
te
siv d oth
e lo
e
ss r
Re
tain
ear ed
nin
gs
5,780
Comprehensive income:
Net income
Un
rea
cas lized
ga
h
der flow h in (lo
s
iva
e
tive dge s) of
s
7
ent
apit
a
Ca
pit
add al sto
c
itio
nal k and
paid
-in
c
(in millions of $)
Balance at January 1, 2008
Pen
sio
pos n an
d
tre
adju tirem other
stm ent
pla
ent
n
s
Un
rea
ava lized
ga
ila
sec ble-fo in (lo
s
urit
r
ies -sale s) on
(906)
l
For
eig
tran n cu
rr
sla
tion ency
adju
stm
Accumulated other comprehensive loss
10,957
592
11,549
2,905
184
3,089
(461)
(461)
(461)
(29)
(490)
6
6
6
6
(29)
(29)
(29)
11
11
11
(29)
11
(110)
(110)
(110)
Total comprehensive income
(110)
2,322
155
2,477
Dividends paid to noncontrolling shareholders
--
(152)
(152)
Changes in noncontrolling interests
--
(42)
(42)
Treasury stock transactions
Dividends paid in the form of nominal value reduction
Issuance of shares
(20)
20
(1,060)
--
--
(1,060)
(1,060)
49
Shares repurchased under buyback program
(619)
49
49
(619)
(619)
45
Share-based payment arrangements
45
45
Call options
30
30
Balance at September 30, 2008
4,824
9,714
(1,361)
(22)
(475)
(55)
(1,913)
(901)
30
11,724
553
12,277
4,841
Comprehensive income:
Net income
(978)
(161)
(2,710)
(900)
2,361
Foreign currency translation adjustments
Effect of change in fair value of available-for-sale
securities, net of tax
Unrecognized loss related to pensions and other
postretirement plans, net of tax
Change in derivatives qualifying as cash flow hedges, net
of tax
672
(62)
(24)
No
nco
nt
roll
in
Tot
al
equ stock
ho
ity
lde
rs
'
g in
tere
sts
lde
rs'
ho
Tot
al
equ ABB
sto
ity
ck
k
ry s
toc
asu
Tre
Tot
al
com accu
pre mula
hen
te
siv d oth
e lo
e
ss r
Re
tain
ear ed
nin
gs
9,927
Un
rea
cas lized
h
ga
der flow h in (lo
s
iva
e
tive dge s) of
s
83
ent
apit
a
Ca
pit
add al sto
c
itio
nal k and
paid
-in
c
(in millions of $)
Balance at January 1, 2009
Pen
sio
pos n an
d
tre
adju tirem other
stm ent
pla
ent
n
s
Un
rea
ava lized
ga
ila
sec ble-fo in (lo
s
urit
r
ies -sale s) on
(1,654)
l
For
eig
tran n cu
rr
sla
tion ency
adju
stm
Accumulated other comprehensive loss
11,158
612
11,770
2,361
159
2,520
672
672
6
678
(62)
(62)
(24)
(24)
(62)
(3)
(27)
3,117
162
3,279
Dividends paid to noncontrolling shareholders
--
(193)
(193)
Changes in noncontrolling interests
--
17
17
170
170
170
Total comprehensive income
Treasury stock transactions
Dividends paid in the form of nominal value reduction
Issuance of shares
Share-based payment arrangements
Call options
Balance at September 30, 2009
See Notes to the Interim Consolidated Financial Information
(3)
3
(1,024)
170
--
--
(1,024)
(1,024)
3
3
3
54
54
54
22
3,893
22
12,288
(982)
21
(1,002)
9
(1,954)
(897)
13,330
22
598
13,928