0001551152-21-000025 | 10-Q | XBRL Viewer

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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2021	Jul. 26, 2021
Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	001-35565
Entity Registrant Name	AbbVie Inc.
Entity Central Index Key	0001551152
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	32-0375147
Entity Address, Address Line One	1 North Waukegan Road
Entity Address, City or Town	North Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60064-6400
City Area Code	847
Local Phone Number	932-7900
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		1,767,175,532
NEW YORK STOCK EXCHANGE, INC. \| Common stock
Entity Information
Security Exchange Name	NYSE
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	ABBV
NEW YORK STOCK EXCHANGE, INC. \| Sec 1.500 Senior Notes Due 2023
Entity Information
Security Exchange Name	NYSE
Title of 12(b) Security	1.500% Senior Notes due 2023
Trading Symbol	ABBV23B
NEW YORK STOCK EXCHANGE, INC. \| Sec 1.375 Senior Notes Due 2024
Entity Information
Security Exchange Name	NYSE
Title of 12(b) Security	1.375% Senior Notes due 2024
Trading Symbol	ABBV24
NEW YORK STOCK EXCHANGE, INC. \| Sec 1.250 Senior Notes Due 2024
Entity Information
Security Exchange Name	NYSE
Title of 12(b) Security	1.250% Senior Notes due 2024
Trading Symbol	ABBV24B
NEW YORK STOCK EXCHANGE, INC. \| Sec 0.750 Senior Notes Due 2027
Entity Information
Security Exchange Name	NYSE
Title of 12(b) Security	0.750% Senior Notes due 2027
Trading Symbol	ABBV27
NEW YORK STOCK EXCHANGE, INC. \| Sec 2.125 Senior Notes due 2028
Entity Information
Security Exchange Name	NYSE
Title of 12(b) Security	2.125% Senior Notes due 2028
Trading Symbol	ABBV28
NEW YORK STOCK EXCHANGE, INC. \| Sec 2.625 Senior Notes Due 2028
Entity Information
Security Exchange Name	NYSE
Title of 12(b) Security	2.625% Senior Notes due 2028
Trading Symbol	ABBV28B
NEW YORK STOCK EXCHANGE, INC. \| Sec 2.125 Senior Notes Due 2029
Entity Information
Security Exchange Name	NYSE
Title of 12(b) Security	2.125% Senior Notes due 2029
Trading Symbol	ABBV29
NEW YORK STOCK EXCHANGE, INC. \| Sec 1.250 Senior Notes due 2031
Entity Information
Security Exchange Name	NYSE
Title of 12(b) Security	1.250% Senior Notes due 2031
Trading Symbol	ABBV31
CHICAGO STOCK EXCHANGE, INC \| Common stock
Entity Information
Security Exchange Name	CHX
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	ABBV

Condensed Consolidated Statements of Earnings (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Net revenues	$ 13,959	$ 10,425	$ 26,969	$ 19,044
Cost of products sold	4,523	3,711	8,736	5,653
Selling, general and administrative	3,164	3,527	6,006	5,222
Research and development	1,802	1,582	3,584	2,961
Acquired in-process research and development	97	853	167	853
Other operating income	(68)	0	(68)	0
Total operating costs and expenses	9,518	9,673	18,425	14,689
Operating earnings	4,441	752	8,544	4,355
Interest expense, net	606	614	1,228	1,042
Net foreign exchange loss	14	29	23	34
Other expense, net	2,658	802	2,263	874
Earnings (loss) before income tax expense	1,163	(693)	5,030	2,405
Income tax expense	394	46	706	134
Net earnings (loss)	769	(739)	4,324	2,271
Net earnings (loss) attributable to noncontrolling interest	3	(1)	5	(1)
Net earnings (loss) attributable to AbbVie Inc.	$ 766	$ (738)	$ 4,319	$ 2,272
Per share data
Basic earnings per share (in dollars per share)	$ 0.42	$ (0.46)	$ 2.42	$ 1.44
Diluted earnings per share (in dollars per share)	$ 0.42	$ (0.46)	$ 2.41	$ 1.43
Weighted-average basic shares outstanding (in shares)	1,769	1,647	1,769	1,564
Weighted-average diluted shares outstanding (in shares)	1,776	1,647	1,776	1,568

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net earnings (loss)	$ 769	$ (739)	$ 4,324	$ 2,271
Foreign currency translation adjustments, net of tax expense (benefit) of $1 for the three months and $(24) for the six months ended June 30, 2021 and $4 for the three months and $(4) for the six months ended June 30, 2020	244	441	(433)	214
Net investment hedging activities, net of tax expense (benefit) of $(31) for the three months and $72 for the six months ended June 30, 2021 and $(60) for the three months and $(40) for the six months ended June 30, 2020	(114)	(213)	260	(141)
Pension and post-employment benefits, net of tax expense (benefit) of $14 for the three months and $33 for the six months ended June 30, 2021 and $12 for the three months and $27 for six months ended June 30, 2020	50	43	129	99
Cash flow hedging activities, net of tax expense (benefit) of $— for the three months and $3 for the six months ended June 30, 2021 and $(2) for the three months and $(4) for the six months ended June 30, 2020	12	(9)	58	(11)
Other comprehensive income	192	262	14	161
Comprehensive income (loss)	961	(477)	4,338	2,432
Comprehensive income (loss) attributable to noncontrolling interest	3	(1)	5	(1)
Comprehensive income (loss) attributable to AbbVie Inc.	$ 958	$ (476)	$ 4,333	$ 2,433

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustments, tax expense (benefit)	$ 1	$ 4	$ (24)	$ (4)
Net investment hedging activities, tax expense (benefit)	(31)	(60)	72	(40)
Pension and post-employment benefits, tax expense (benefit)	14	12	33	27
Cash flow hedging activities, tax expense (benefit)	$ 0	$ (2)	$ 3	$ (4)

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Current assets
Cash and equivalents	$ 8,546	$ 8,449
Short-term investments	54	30
Accounts receivable, net	9,914	8,822
Inventories	3,386	3,310
Prepaid expenses and other	4,099	3,562
Total current assets	25,999	24,173
Investments	266	293
Property and equipment, net	5,161	5,248
Intangible assets, net	79,340	82,876
Goodwill	32,398	33,124
Other assets	4,808	4,851
Total assets	147,972	150,565
Current liabilities
Short-term borrowings	17	34
Current portion of long-term debt and finance lease obligations	7,884	8,468
Accounts payable and accrued liabilities	20,783	20,159
Total current liabilities	28,684	28,661
Long-term debt and finance lease obligations	74,237	77,554
Deferred income taxes	3,661	3,646
Other long-term liabilities	28,796	27,607
Commitments and contingencies
Stockholders' equity
Common stock, $0.01 par value, 4,000,000,000 shares authorized, 1,801,041,492 shares issued as of June 30, 2021 and 1,792,140,764 as of December 31, 2020	18	18
Common stock held in treasury, at cost, 34,015,942 shares as of June 30, 2021 and 27,007,945 as of December 31, 2020	(3,022)	(2,264)
Additional paid-in capital	17,936	17,384
Retained earnings	740	1,055
Accumulated other comprehensive loss	(3,103)	(3,117)
Total stockholders' equity	12,569	13,076
Noncontrolling interest	25	21
Total equity	12,594	13,097
Total liabilities and equity	$ 147,972	$ 150,565

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	4,000,000,000	4,000,000,000
Common stock, issued (in shares)	1,801,041,492	1,792,140,764
Common stock held in treasury, at cost (in shares)	34,015,942	27,007,945

Condensed Consolidated Statements of Equity (Unaudited) - USD ($) shares in Millions, $ in Millions	Total	Common stock	Treasury stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive loss	Noncontrolling interest
Beginning balance at Dec. 31, 2019	$ (8,172)	$ 18	$ (24,504)	$ 15,193	$ 4,717	$ (3,596)	$ 0
Beginning balance (in shares) at Dec. 31, 2019		1,479
Increase (Decrease) in Stockholders' Equity
Net earnings (loss) attributable to AbbVie Inc.	2,272	$ 0	0	0	2,272	0	0
Other comprehensive income (loss), net of tax	161	0	0	0	0	161	0
Dividends declared	(3,859)	0	0	0	(3,859)	0	0
Common shares and equity awards issued for acquisition of Allergan plc	24,409	$ 0	23,166	1,243	0	0	0
Common shares issued to Allergan plc stockholders (in shares)		286
Purchases of treasury stock	(662)	$ 0	(662)	0	0	0	0
Purchases of treasury stock (in shares)		(7)
Stock-based compensation plans and other	559	$ 0	42	517	0	0	0
Stock-based compensation plans and other (in shares)		6
Change in noncontrolling interest	24	$ 0	0	0	0	0	24
Ending balance at Jun. 30, 2020	14,732	$ 18	(1,958)	16,953	3,130	(3,435)	24
Ending balance (in shares) at Jun. 30, 2020		1,764
Beginning balance at Mar. 31, 2020	(7,415)	$ 18	(25,110)	15,401	5,973	(3,697)	0
Beginning balance (in shares) at Mar. 31, 2020		1,477
Increase (Decrease) in Stockholders' Equity
Net earnings (loss) attributable to AbbVie Inc.	(738)	$ 0	0	0	(738)	0	0
Other comprehensive income (loss), net of tax	262	0	0	0	0	262	0
Dividends declared	(2,105)	0	0	0	(2,105)	0	0
Common shares and equity awards issued for acquisition of Allergan plc	24,409	$ 0	23,166	1,243	0	0	0
Common shares issued to Allergan plc stockholders (in shares)		286
Purchases of treasury stock	(19)	$ 0	(19)	0	0	0	0
Purchases of treasury stock (in shares)		0
Stock-based compensation plans and other	314	$ 0	5	309	0	0	0
Stock-based compensation plans and other (in shares)		1
Change in noncontrolling interest	24	$ 0	0	0	0	0	24
Ending balance at Jun. 30, 2020	14,732	$ 18	(1,958)	16,953	3,130	(3,435)	24
Ending balance (in shares) at Jun. 30, 2020		1,764
Beginning balance at Dec. 31, 2020	13,097	$ 18	(2,264)	17,384	1,055	(3,117)	21
Beginning balance (in shares) at Dec. 31, 2020		1,765
Increase (Decrease) in Stockholders' Equity
Net earnings (loss) attributable to AbbVie Inc.	4,319	$ 0	0	0	4,319	0	0
Other comprehensive income (loss), net of tax	14	0	0	0	0	14	0
Dividends declared	(4,634)	0	0	0	(4,634)	0	0
Purchases of treasury stock	(797)	$ 0	(797)	0	0	0	0
Purchases of treasury stock (in shares)		(7)
Stock-based compensation plans and other	591	$ 0	39	552	0	0	0
Stock-based compensation plans and other (in shares)		9
Change in noncontrolling interest	4	$ 0	0	0	0	0	4
Ending balance at Jun. 30, 2021	12,594	$ 18	(3,022)	17,936	740	(3,103)	25
Ending balance (in shares) at Jun. 30, 2021		1,767
Beginning balance at Mar. 31, 2021	13,733	$ 18	(3,017)	17,712	2,292	(3,295)	23
Beginning balance (in shares) at Mar. 31, 2021		1,766
Increase (Decrease) in Stockholders' Equity
Net earnings (loss) attributable to AbbVie Inc.	766	$ 0	0	0	766	0	0
Other comprehensive income (loss), net of tax	192	0	0	0	0	192	0
Dividends declared	(2,318)	0	0	0	(2,318)	0	0
Purchases of treasury stock	(10)	$ 0	(10)	0	0	0	0
Purchases of treasury stock (in shares)		0
Stock-based compensation plans and other	229	$ 0	5	224	0	0	0
Stock-based compensation plans and other (in shares)		1
Change in noncontrolling interest	2	$ 0	0	0	0	0	2
Ending balance at Jun. 30, 2021	$ 12,594	$ 18	$ (3,022)	$ 17,936	$ 740	$ (3,103)	$ 25
Ending balance (in shares) at Jun. 30, 2021		1,767

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Statement of Cash Flows [Abstract]
Net earnings (loss)	$ 4,324	$ 2,271
Adjustments to reconcile net earnings to net cash from operating activities:
Depreciation	407	264
Amortization of intangible assets	4,008	1,850
Deferred income taxes	(119)	(257)
Change in fair value of contingent consideration liabilities	2,349	881
Stock-based compensation	428	455
Upfront costs and milestones related to collaborations	317	943
Gain on divestitures	(68)	0
Other, net	67	434
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	(1,162)	(543)
Inventories	(249)	(304)
Prepaid expenses and other assets	(281)	240
Accounts payable and other liabilities	308	466
Income tax assets and liabilities, net	(562)	204
Cash flows from operating activities	9,767	6,904
Cash flows from investing activities
Acquisition of businesses, net of cash acquired	0	(38,138)
Other acquisitions and investments	(345)	(192)
Acquisitions of property and equipment	(383)	(302)
Purchases of investment securities	(56)	(32)
Sales and maturities of investment securities	65	1,429
Other, net	135	1,454
Cash flows from investing activities	(584)	(35,781)
Cash flows from financing activities
Proceeds from issuance of long-term debt	0	3,000
Repayments of long-term debt and finance lease obligations	(3,461)	(3,763)
Debt issuance costs	0	(20)
Dividends paid	(4,632)	(3,515)
Purchases of treasury stock	(797)	(662)
Proceeds from the exercise of stock options	144	77
Payments of contingent consideration liabilities	(313)	(129)
Other, net	1	20
Cash flows from financing activities	(9,058)	(4,992)
Effect of exchange rate changes on cash and equivalents	(28)	(38)
Net change in cash and equivalents	97	(33,907)
Cash and equivalents, beginning of period	8,449	39,924
Cash and equivalents, end of period	8,546	6,017
Issuance of common shares associated with acquisitions of businesses	$ 0	$ 23,979

Basis of Presentation	6 Months Ended
Basis of Presentation	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Basis of Historical Presentation The unaudited interim condensed consolidated financial statements of AbbVie Inc. (AbbVie or the company) have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission. Accordingly, certain information and footnote disclosures normally included in annual financial statements prepared in accordance with generally accepted accounting principles in the United States (U.S. GAAP) have been omitted. These unaudited interim condensed consolidated financial statements should be read in conjunction with the company’s audited consolidated financial statements and notes included in the company’s Annual Report on Form 10-K for the year ended December 31, 2020. It is management’s opinion that these financial statements include all normal and recurring adjustments necessary for a fair presentation of the company’s financial position and operating results. Net revenues and net earnings for any interim period are not necessarily indicative of future or annual results. Certain reclassifications were made to conform the prior period interim condensed consolidated financial statements to the current period presentation. Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements ASU No. 2019-12 In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740). The standard includes simplifications related to accounting for income taxes including removing certain exceptions related to the approach for intraperiod tax allocation and the recognition of deferred tax liabilities for outside basis differences. The standard also clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. AbbVie adopted the standard in the first quarter of 2021. The adoption did not have a material impact on its consolidated financial statements.

Supplemental Financial Information

6 Months Ended

Jun. 30, 2021

Supplemental Financial Information

Supplemental Financial Information

Supplemental Financial InformationInterest Expense, Net


	Three months ended June 30,				Six months ended June 30,
(in millions)	2021		2020		2021		2020
Interest expense	$	615	$	632	$	1,247	$	1,195
Interest income	(9)		(18)		(19)		(153)
Interest expense, net	$	606	$	614	$	1,228	$	1,042

Inventories


(in millions)	June 30, 2021		December 31, 2020
Finished goods	$	1,140	$	1,318
Work-in-process	1,372		1,201
Raw materials	874		791
Inventories	$	3,386	$	3,310

Property and Equipment, Net


(in millions)	June 30, 2021		December 31, 2020
Property and equipment, gross	$	10,816	$	10,859
Accumulated depreciation	(5,655)		(5,611)
Property and equipment, net	$	5,161	$	5,248

Depreciation expense was $201 million for the three months and $407 million for the six months ended June 30, 2021 and $149 million for the three months and $264 million for the six months ended June 30, 2020.

Earnings Per Share

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per ShareAbbVie grants certain restricted stock units (RSUs) that are considered to be participating securities. Due to the presence of participating securities, AbbVie calculates earnings per share (EPS) using the more dilutive of the treasury stock or the two-class method. For all periods presented, the two-class method was more dilutive.

The following table summarizes the impact of the two-class method:


	Three months ended June 30,				Six months ended June 30,
(in millions, except per share data)	2021		2020		2021		2020
Basic EPS
Net earnings (loss) attributable to AbbVie Inc.	$	766	$	(738)	$	4,319	$	2,272
Earnings allocated to participating securities	17		18		34		28
Earnings (loss) available to common shareholders	$	749	$	(756)	$	4,285	$	2,244
Weighted-average basic shares outstanding	1,769		1,647		1,769		1,564
Basic earnings (loss) per share attributable to AbbVie Inc.	$	0.42	$	(0.46)	$	2.42	$	1.44

Diluted EPS
Net earnings (loss) attributable to AbbVie Inc.	$	766	$	(738)	$	4,319	$	2,272
Earnings allocated to participating securities	17		18		34		28
Earnings (loss) available to common shareholders	$	749	$	(756)	$	4,285	$	2,244
Weighted-average shares of common stock outstanding	1,769		1,647		1,769		1,564
Effect of dilutive securities	7		—		7		4
Weighted-average diluted shares outstanding	1,776		1,647		1,776		1,568
Diluted earnings (loss) per share attributable to AbbVie Inc.	$	0.42	$	(0.46)	$	2.41	$	1.43

Certain shares issuable under stock-based compensation plans were excluded from the computation of EPS because the effect would have been antidilutive. The number of common shares excluded was insignificant for all periods presented.

Licensing, Acquisitions, and Other Arrangements

6 Months Ended

Jun. 30, 2021

Licensing, Acquisitions, and Other Arrangements

Licensing, Acquisitions, and Other Arrangements

Licensing, Acquisitions and Other Arrangements

Acquisition of AllerganOn May 8, 2020, AbbVie completed its acquisition of Allergan plc (Allergan). The combination created a diverse entity with leadership positions across immunology, hematologic oncology, aesthetics, neuroscience, eye care and women's health. AbbVie's existing product portfolio and pipeline were enhanced with numerous Allergan assets and Allergan's product portfolio benefits from AbbVie's commercial strength, expertise and international infrastructure.

The acquisition of Allergan was accounted for as a business combination using the acquisition method of accounting. The acquisition method requires, among other things, that assets acquired and liabilities assumed in a business combination be recognized at their fair values as of the acquisition date. The valuation of assets acquired and liabilities assumed was finalized during the three months ended June 30, 2021. Measurement period adjustments to the preliminary purchase price allocation during the six months ended June 30, 2021 included: (i) an increase to intangible assets of $710 million; (ii) an increase to deferred income tax liabilities of $148 million; (iii) other individually insignificant adjustments for a net increase to identifiable net assets of $2 million; and (iv) a corresponding decrease to goodwill of $564 million. The measurement period adjustments primarily resulted from the completion of the valuation of certain license agreement intangible assets based on facts and circumstances that existed as of the acquisition date and did not result from intervening events subsequent to such date. These adjustments did not have a significant impact on AbbVie's results of operations for the three and six months ended June 30, 2021 and would not have had a significant impact on prior period results if these adjustments had been made as of the acquisition date.

Other Licensing & Acquisitions Activity

Cash outflows related to other acquisitions and investments totaled $345 million for the six months ended June 30, 2021 and $192 million for the six months ended June 30, 2020. AbbVie recorded acquired in-process research and development (IPR&D) charges of $97 million for the three months and $167 million for the six months ended June 30, 2021 and recorded acquired IPR&D charges of $853 million for the three and six months ended June 30, 2020.

TeneoOne and TNB-383B

In June 2021, AbbVie exercised its exclusive right to acquire TeneoOne, an affiliate of Teneobio, Inc., and TNB-383B, a BCMA-targeting immunotherapeutic for the potential treatment of relapsed or refractory multiple myeloma (R/R MM). In February 2019, AbbVie and TeneoOne entered a strategic transaction to develop and commercialize TNB-383B, a bispecific antibody that simultaneously targets BCMA and CD3 and is designed to direct the body's own immune system to target and kill BCMA-expressing tumor cells. AbbVie exercised its exclusive right to acquire TeneoOne and TNB-383B based on an interim analysis of an ongoing Phase 1 study. Under the terms of the agreement, AbbVie will make a $400 million warrant exercise payment subject to adjustments for certain expenses. Closing of the transaction is subject to regulatory approval. AbbVie could make additional payments of up to $250 million upon the achievement of certain development, regulatory and commercial milestones.

Soliton, Inc.

In May 2021, AbbVie announced that it entered into a definitive agreement with Soliton, Inc. (Soliton) to acquire Soliton and RESONIC, its Rapid Acoustic Pulse device which recently received U.S. Food and Drug Administration (FDA) 510(k) clearance and is a non-invasive treatment for the short-term improvement in the appearance of cellulite. Under the terms of the transaction agreement, AbbVie will pay $22.60 per share in cash for each outstanding share of Soliton for an enterprise value of approximately $550 million. Closing of the transaction is subject to regulatory approval.

Calico Life Sciences LLC

In July 2021, AbbVie and Calico Life Sciences LLC (Calico) announced an extension of their collaboration to discover, develop and bring to market new therapies for patients with age-related diseases, including neurodegeneration and cancer. This is the second collaboration extension and builds on the partnership established in 2014 and extended in 2018. The extension is for an additional three years, beginning in 2022, and AbbVie and Calico will each commit to contribute an additional $500 million which will be recorded as an expense in the condensed consolidated statement of earnings in the third quarter of 2021. AbbVie and Calico have advanced three clinical stage programs in immuno-oncology and neurodegeneration and have a portfolio of more than 20 early-stage programs targeting specific disease pathways.

Genmab A/S

In June 2020, AbbVie and Genmab A/S (Genmab) entered into a collaboration agreement to jointly develop and commercialize three of Genmab's early-stage investigational bispecific antibody therapeutics and entered into a discovery research collaboration for future differentiated antibody therapeutics for the treatment of cancer. Under the terms of the agreement, Genmab granted to AbbVie an exclusive license to its epcoritamab (DuoBody-CD3xCD20), DuoHexaBody-CD37 and DuoBody-CD3x5T4 programs. For epcoritamab, the companies will share commercial responsibilities in the U.S. and Japan, with AbbVie responsible for further global commercialization. Genmab will record net revenues in the U.S. and Japan, and the parties will share equally in pre-tax profits from these sales. Genmab will receive tiered royalties on remaining global sales. For the discovery research partnership, Genmab will conduct Phase 1 studies for these programs and AbbVie retains the right to opt-in to program development. AbbVie made an upfront payment of $750 million, which was recorded to IPR&D in the condensed consolidated statement of earnings in the three

months ended June 30, 2020. The agreement also includes additional payments of up to $3.2 billion upon the achievement of certain development, regulatory and commercial milestones for all programs.

Collaborations

6 Months Ended

Jun. 30, 2021

Collaborative Arrangements [Abstract]

Collaborations

The company has ongoing transactions with other entities through collaboration agreements. The following represent the significant collaboration agreements impacting the periods ended June 30, 2021 and 2020.

Collaboration with Janssen Biotech, Inc.

In December 2011, Pharmacyclics, a wholly-owned subsidiary of AbbVie, entered into a worldwide collaboration and license agreement with Janssen Biotech, Inc. and its affiliates (Janssen), one of the Janssen Pharmaceutical companies of Johnson & Johnson, for the joint development and commercialization of Imbruvica, a novel, orally active, selective covalent inhibitor of Bruton’s tyrosine kinase (BTK) and certain compounds structurally related to Imbruvica, for oncology and other indications, excluding all immune and inflammatory mediated diseases or conditions and all psychiatric or psychological diseases or conditions, in the United States and outside the United States.

The collaboration provides Janssen with an exclusive license to commercialize Imbruvica outside of the United States and co-exclusively with AbbVie in the United States. Both parties are responsible for the development, manufacturing and marketing of any products generated as a result of the collaboration. The collaboration has no set duration or specific expiration date and provides for potential future development, regulatory and approval milestone payments of up to $200 million to AbbVie. The collaboration also includes a cost sharing arrangement for associated collaboration activities. Except in certain cases, Janssen is responsible for approximately 60% of collaboration development costs and AbbVie is responsible for the remaining 40% of collaboration development costs.

In the United States, both parties have co-exclusive rights to commercialize the products; however, AbbVie is the principal in the end-customer product sales. AbbVie and Janssen share pre-tax profits and losses equally from the commercialization of products. Sales of Imbruvica are included in AbbVie's net revenues. Janssen's share of profits is included in AbbVie's cost of products sold. Other costs incurred under the collaboration are reported in their respective expense line items, net of Janssen's share.

Outside the United States, Janssen is responsible for and has exclusive rights to commercialize Imbruvica. AbbVie and Janssen share pre-tax profits and losses equally from the commercialization of products. AbbVie's share of profits is included in AbbVie's net revenues. Other costs incurred under the collaboration are reported in their respective expense line items, net of Janssen's share.

The following table shows the profit and cost sharing relationship between Janssen and AbbVie:


	Three months ended June 30,				Six months ended June 30,
(in millions)	2021		2020		2021		2020
United States - Janssen's share of profits (included in cost of products sold)	$	514	$	493	$	979	$	943
International - AbbVie's share of profits (included in net revenues)	282		233		551		499
Global - AbbVie's share of other costs (included in respective line items)	74		67		144		137

AbbVie’s receivable from Janssen, included in accounts receivable, net, was $308 million at June 30, 2021 and $283 million at December 31, 2020. AbbVie’s payable to Janssen, included in accounts payable and accrued liabilities, was $498 million at June 30, 2021 and $562 million at December 31, 2020.

Collaboration with Genentech, Inc.

AbbVie and Genentech, Inc. (Genentech), a member of the Roche Group, are parties to a collaboration and license agreement executed in 2007 to jointly research, develop and commercialize human therapeutic products containing BCL-2 inhibitors and certain other compound inhibitors which includes Venclexta, a BCL-2 inhibitor used to treat certain hematological malignancies. AbbVie shares equally with Genentech all pre-tax profits and losses from the development and commercialization of Venclexta in the United States. AbbVie pays royalties on Venclexta net revenues outside the United States.

AbbVie manufactures and distributes Venclexta globally and is the principal in the end-customer product sales. Sales of Venclexta are included in AbbVie’s net revenues. Genentech’s share of United States profits is included in AbbVie’s cost of products sold. AbbVie records sales and marketing costs associated with the United States collaboration as part of selling, general and administrative (SG&A) expenses and global development costs as part of research and development (R&D) expenses, net of

Genentech’s share. Royalties paid for Venclexta revenues outside the United States are also included in AbbVie’s cost of products sold.

The following table shows the profit and cost sharing relationship between Genentech and AbbVie:


	Three months ended June 30,				Six months ended June 30,
(in millions)	2021		2020		2021		2020
Genentech's share of profits, including royalties (included in cost of products sold)	$	168	$	123	$	327	$	251
AbbVie's share of sales and marketing costs from U.S. collaboration (included in SG&A)	8		11		19		25
AbbVie's share of development costs (included in R&D)	34		36		76		61

Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible AssetsGoodwill

The following table summarizes the changes in the carrying amount of goodwill:


(in millions)
Balance as of December 31, 2020	$	33,124

Measurement period adjustments(a)	(564)
Foreign currency translation adjustments and other	(162)
Balance as of June 30, 2021	$	32,398

(a) Measurement period adjustments relate to the acquisition of Allergan (see Note 4).

The company performs its annual goodwill impairment assessment in the third quarter, or earlier if impairment indicators exist. As of June 30, 2021, there were no accumulated goodwill impairment losses.

Intangible Assets, Net

The following table summarizes intangible assets:


	June 30, 2021						December 31, 2020
(in millions)	Gross carrying amount		Accumulated amortization		Net carrying amount		Gross carrying amount		Accumulated amortization		Net carrying amount
Definite-lived intangible assets
Developed product rights	$	87,771	$	(15,153)	$	72,618	$	87,707	$	(11,620)	$	76,087
License agreements	8,486		(3,314)		5,172		7,828		(2,916)		4,912
Total definite-lived intangible assets	96,257		(18,467)		77,790		95,535		(14,536)		80,999
Indefinite-lived research and development	1,550		—		1,550		1,877		—		1,877
Total intangible assets, net	$	97,807	$	(18,467)	$	79,340	$	97,412	$	(14,536)	$	82,876

Definite-Lived Intangible Assets

The increase in definite-lived intangible assets during the six months ended June 30, 2021 was primarily due to the measurement period adjustments from the completion of the valuation of certain license agreements acquired in the Allergan acquisition. See Note 4 for additional information regarding these adjustments.

Amortization expense was $2.0 billion for the three months and $4.0 billion for the six months ended June 30, 2021 and $1.4 billion for the three months and $1.9 billion for the six months ended June 30, 2020. Amortization expense was included in cost of products sold in the condensed consolidated statements of earnings.

Indefinite-Lived Intangible Assets

Indefinite-lived intangible assets represents IPR&D associated with products that have not yet received regulatory approval. The company performs its annual impairment assessment of indefinite-lived intangible assets in the third quarter, or earlier if impairment indicators exist.

Integration and Restructuring Plans

6 Months Ended

Jun. 30, 2021

Restructuring and Related Activities [Abstract]

Integration and Restructuring Plans

Integration and Restructuring PlansAllergan Integration Plan

Following the closing of the Allergan acquisition, AbbVie implemented an integration plan designed to reduce costs, integrate and optimize the combined organization. To achieve these integration objectives, AbbVie expects to incur total charges of approximately $2 billion through 2022. These costs will consist of severance and employee benefit costs (cash severance, non-cash severance including accelerated equity award compensation expense, retention and other termination benefits) and other integration expenses.

The following table summarizes the charges associated with the Allergan acquisition integration plan:


		Severance and employee benefits										Other integration
	Three months ended June 30,			Six months ended June 30,						Three months ended June 30,	Six months ended June 30,
(in millions)		2021		2020		2021		2020				2021		2020		2021		2020
Cost of products sold		$	—	$	33	$	6	$	33			$	25	$	1	$	40	$	1
Research and development		—		132		—		132				18		44		69		44
Selling, general and administrative		12		318		29		318				75		60		125		98
Total charges		$	12	$	483	$	35	$	483			$	118	$	105	$	234	$	143

The following table summarizes the cash activity in the recorded liability associated with the integration plan for the six months ended June 30, 2021:


(in millions)	Severance and employee benefits		Other integration
Accrued balance as of December 31, 2020	$	367	$	20
Charges	31		216


Payments and other adjustments	(159)		(222)
Accrued balance as of June 30, 2021	$	239	$	14

Other Restructuring

AbbVie recorded restructuring charges of $5 million for the three months and $43 million for the six months ended June 30, 2021 and $14 million for the three months and $31 million for the six months ended June 30, 2020.

The following table summarizes the cash activity in the restructuring reserve for the six months ended June 30, 2021:


(in millions)
Accrued balance as of December 31, 2020	$	90
Restructuring charges	43
Payments and other adjustments	(64)
Accrued balance as of June 30, 2021	$	69

Financial Instruments and Fair Value Measures

6 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

Financial Instruments and Fair Value Measures

Financial Instruments and Fair Value MeasuresRisk Management Policy

See Note 11 to the company’s Annual Report on Form 10-K for the year ended December 31, 2020 for a summary of AbbVie’s risk management policy and use of derivative instruments.

Financial Instruments

Various AbbVie foreign subsidiaries enter into foreign currency forward exchange contracts to manage exposures to changes in foreign exchange rates for anticipated intercompany transactions denominated in a currency other than the functional currency of the local entity. These contracts, with notional amounts totaling $1.7 billion at June 30, 2021 and $1.5 billion at December 31, 2020, are designated as cash flow hedges and are recorded at fair value. The durations of these forward exchange contracts were generally less than 18 months. Accumulated gains and losses as of June 30, 2021 are reclassified from accumulated other comprehensive income (loss) (AOCI) and included in cost of products sold at the time the products are sold, generally not exceeding six months from the date of settlement.

In the third quarter of 2019, the company entered into treasury rate lock agreements with notional amounts totaling $10.0 billion to hedge exposure to variability in future cash flows resulting from changes in interest rates related to the issuance of long-term debt in connection with the acquisition of Allergan. The treasury rate lock agreements were designated as cash flow hedges and recorded at fair value. The agreements were net settled upon issuance of the senior notes in November 2019 and the resulting net gain was recognized in other comprehensive income. This gain is reclassified to interest expense, net over the term of the related debt.

The company is party to interest rate swap contracts designated as cash flow hedges with notional amounts totaling $1.5 billion at June 30, 2021 and $2.3 billion at December 31, 2020. The effect of the hedge contracts is to change a floating-rate interest obligation to a fixed rate for that portion of the floating-rate debt. Realized and unrealized gains or losses are included in AOCI and are reclassified to interest expense, net over the lives of the floating-rate debt.

The company also enters into foreign currency forward exchange contracts to manage its exposure to foreign currency denominated trade payables and receivables and intercompany loans. These contracts are not designated as hedges and are recorded at fair value. Resulting gains or losses are reflected in net foreign exchange gain or loss in the condensed consolidated statements of earnings and are generally offset by losses or gains on the foreign currency exposure being managed. These contracts had notional amounts totaling $7.8 billion at June 30, 2021 and $8.6 billion at December 31, 2020.

The company also uses foreign currency forward exchange contracts or foreign currency denominated debt to hedge its net investments in certain foreign subsidiaries and affiliates. The company had foreign currency forward exchange contracts with notional amounts totaling €2.8 billion at June 30, 2021 and €971 million at December 31, 2020. The company also had an aggregate principal amount of senior Euro notes designated as net investment hedges of €5.9 billion at June 30, 2021 and €6.6 billion at December 31, 2020. The company uses the spot method of assessing hedge effectiveness for derivative instruments designated as net investment hedges. Realized and unrealized gains and losses from these hedges are included in AOCI and the initial fair value of hedge components excluded from the assessment of effectiveness is recognized in interest expense, net over the life of the hedging instrument.

The company is party to interest rate swap contracts designated as fair value hedges with notional amounts totaling $3.8 billion at June 30, 2021 and $4.8 billion December 31, 2020. The effect of the hedge contracts is to change a fixed-rate interest obligation to a floating rate for that portion of the debt. AbbVie records the contracts at fair value and adjusts the carrying amount of the fixed-rate debt by an offsetting amount.

No amounts are excluded from the assessment of effectiveness for cash flow hedges or fair value hedges.

The following table summarizes the amounts and location of AbbVie’s derivative instruments on the condensed consolidated balance sheets:


	Fair value – Derivatives in asset position					Fair value – Derivatives in liability position
(in millions)	Balance sheet caption	June 30, 2021		December 31, 2020		Balance sheet caption	June 30, 2021		December 31, 2020
Foreign currency forward exchange contracts
Designated as cash flow hedges	Prepaid expenses and other	$	14	$	2	Accounts payable and accrued liabilities	$	22	$	82
Designated as cash flow hedges	Other assets	2		—		Other long-term liabilities	1		6
Designated as net investment hedges	Prepaid expenses and other	64		—		Accounts payable and accrued liabilities	—		11
Not designated as hedges	Prepaid expenses and other	38		49		Accounts payable and accrued liabilities	59		33
Interest rate swap contracts
Designated as cash flow hedges	Prepaid expenses and other	—		—		Accounts payable and accrued liabilities	4		14
Designated as cash flow hedges	Other assets	—		—		Other long-term liabilities	14		20
Designated as fair value hedges	Prepaid expenses and other	—		7		Accounts payable and accrued liabilities	—		—
Designated as fair value hedges	Other assets	70		131		Other long-term liabilities	—		—
Total derivatives		$	188	$	189		$	100	$	166

While certain derivatives are subject to netting arrangements with the company’s counterparties, the company does not offset derivative assets and liabilities within the condensed consolidated balance sheets.

The following table presents the pre-tax amounts of gains (losses) from derivative instruments recognized in other comprehensive income:


	Three months ended June 30,				Six months ended June 30,
(in millions)	2021		2020		2021		2020
Foreign currency forward exchange contracts
Designated as cash flow hedges	$	(11)	$	(2)	$	24	$	47
Designated as net investment hedges	(14)		(16)		85		24
Interest rate swap contracts designated as cash flow hedges	—		(6)		1		(52)

Assuming market rates remain constant through contract maturities, the company expects to reclassify pre-tax losses of $49 million into cost of products sold for foreign currency cash flow hedges, pre-tax losses of $15 million into interest expense, net for interest rate swap cash flow hedges and pre-tax gains of $24 million into interest expense, net for treasury rate lock agreement cash flow hedges during the next 12 months.

Related to AbbVie’s non-derivative, foreign currency denominated debt designated as net investment hedges, the company recognized in other comprehensive income pre-tax losses of $126 million for the three months and pre-tax gains of $256 million for the six months ended June 30, 2021 and pre-tax losses of $252 million for the three months and pre-tax losses of $192 million for the six months ended June 30, 2020.

The following table summarizes the pre-tax amounts and location of derivative instrument net gains (losses) recognized in the condensed consolidated statements of earnings, including the net gains (losses) reclassified out of AOCI into net earnings (loss). See Note 10 for the amount of net gains (losses) reclassified out of AOCI.


		Three months ended June 30,				Six months ended June 30,
(in millions)	Statement of earnings caption	2021		2020		2021		2020
Foreign currency forward exchange contracts
Designated as cash flow hedges	Cost of products sold	$	(22)	$	—	$	(34)	$	—
Designated as net investment hedges	Interest expense, net	5		5		9		13
Not designated as hedges	Net foreign exchange loss	(3)		3		(28)		5
Treasury rate lock agreements designated as cash flow hedges	Interest expense, net	6		6		12		12
Interest rate swap contracts
Designated as cash flow hedges	Interest expense, net	(7)		(3)		(14)		(2)
Designated as fair value hedges	Interest expense, net	(11)		37		(68)		397
Debt designated as hedged item in fair value hedges	Interest expense, net	11		(37)		68		(397)

Fair Value Measures

The fair value hierarchy consists of the following three levels:

•Level 1 – Valuations based on unadjusted quoted prices in active markets for identical assets that the company has the ability to access;

•Level 2 – Valuations based on quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-based valuations in which all significant inputs are observable in the market; and

•Level 3 – Valuations using significant inputs that are unobservable in the market and include the use of judgment by the company’s management about the assumptions market participants would use in pricing the asset or liability.

The following table summarizes the bases used to measure certain assets and liabilities carried at fair value on a recurring basis on the condensed consolidated balance sheet as of June 30, 2021:


			Basis of fair value measurement
(in millions)	Total		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Assets
Cash and equivalents	$	8,546	$	2,886	$	5,660	$	—
Money market funds and time deposits	10		—		10		—
Debt securities	71		—		71		—
Equity securities	121		110		11		—
Interest rate swap contracts	70		—		70		—
Foreign currency contracts	118		—		118		—

Total assets	$	8,936	$	2,996	$	5,940	$	—
Liabilities
Interest rate swap contracts	$	18	$	—	$	18	$	—
Foreign currency contracts	82		—		82		—

Contingent consideration	14,989		—		—		14,989
Total liabilities	$	15,089	$	—	$	100	$	14,989

The following table summarizes the bases used to measure certain assets and liabilities carried at fair value on a recurring basis on the condensed consolidated balance sheet as of December 31, 2020:


			Basis of fair value measurement
(in millions)	Total		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Assets
Cash and equivalents	$	8,449	$	2,758	$	5,691	$	—
Money market funds and time deposits	12		—		12		—
Debt securities	50		—		50		—
Equity securities	159		149		10		—
Interest rate swap contracts	138		—		138		—
Foreign currency contracts	51		—		51		—

Total assets	$	8,859	$	2,907	$	5,952	$	—
Liabilities
Interest rate swap contracts	$	34	$	—	$	34	$	—
Foreign currency contracts	132		—		132		—

Contingent consideration	12,997		—		—		12,997
Total liabilities	$	13,163	$	—	$	166	$	12,997

Equity securities consist of investments for which the fair values were determined by using the published market price per unit multiplied by the number of units held, without consideration of transaction costs. The derivatives entered into by the company were valued using observable market inputs including published interest rate curves and both forward and spot prices for foreign currencies.

The fair value measurements of the contingent consideration liabilities were determined based on significant unobservable inputs, including the discount rate, estimated probabilities and timing of achieving specified development, regulatory and commercial milestones and the estimated amount of future sales of the acquired products. The potential contingent consideration payments are estimated by applying a probability-weighted expected payment model for contingent milestone payments and a Monte Carlo simulation model for contingent royalty payments, which are then discounted to present value. Changes to the fair value of the contingent consideration liabilities can result from changes to one or a number of inputs, including discount rates, the probabilities of achieving the milestones, the time required to achieve the milestones and estimated future sales. Significant judgment is employed in determining the appropriateness of certain of these inputs. Changes to the inputs described above could have a material impact on the company's financial position and results of operations in any given period.

The fair value of the company's contingent consideration liabilities as of June 30, 2021 was calculated using the following significant unobservable inputs:


	Range	Weighted average(a)
Discount rate	0.1% - 2.5%	1.4	%
Probability of payment for unachieved milestones	56% - 92%	87	%
Probability of payment for royalties by indication(b)	56% - 100%	95	%

Projected year of payments	2021 - 2034	2027

(a) Unobservable inputs were weighted by the relative fair value of the contingent consideration liabilities.

(b) Excluding approved indications, the estimated probability of payment ranged from 56% to 89% at June 30, 2021.

There have been no transfers of assets or liabilities into or out of Level 3 of the fair value hierarchy. The following table presents the changes in fair value of total contingent consideration liabilities which are measured using Level 3 inputs:


	Six months ended June 30,
(in millions)	2021		2020
Beginning balance	$	12,997	$	7,340
Additions(a)	—		121
Change in fair value recognized in net earnings	2,349		881
Payments	(357)		(129)
Ending balance	$	14,989	$	8,213

(a) Represents contingent consideration liabilities assumed in the Allergan acquisition.

The change in fair value recognized in net earnings is recorded in other expense, net in the condensed consolidated statements of earnings.

Certain financial instruments are carried at historical cost or some basis other than fair value. The book values, approximate fair values and bases used to measure the approximate fair values of certain financial instruments as of June 30, 2021 are shown in the table below:


					Basis of fair value measurement
(in millions)	Book value		Approximate fair value		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)



Liabilities
Short-term borrowings	$	17	$	17	$	—	$	17	$	—
Current portion of long-term debt and finance lease obligations, excluding fair value hedges	7,884		7,925		7,636		289		—
Long-term debt and finance lease obligations, excluding fair value hedges	74,051		82,070		80,747		1,323		—
Total liabilities	$	81,952	$	90,012	$	88,383	$	1,629	$	—

The book values, approximate fair values and bases used to measure the approximate fair values of certain financial instruments as of December 31, 2020 are shown in the table below:


					Basis of fair value measurement
(in millions)	Book value		Approximate fair value		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)



Liabilities
Short-term borrowings	$	34	$	34	$	—	$	34	$	—
Current portion of long-term debt and finance lease obligations, excluding fair value hedges	8,461		8,542		8,249		293		—
Long-term debt and finance lease obligations, excluding fair value hedges	77,283		87,761		86,137		1,624		—
Total liabilities	$	85,778	$	96,337	$	94,386	$	1,951	$	—

AbbVie also holds investments in equity securities that do not have readily determinable fair values. The company records these investments at cost and remeasures them to fair value based on certain observable price changes or impairment events as they occur. The carrying amount of these investments was $118 million as of June 30, 2021 and $102 million as of December 31, 2020. No significant cumulative upward or downward adjustments have been recorded for these investments as of June 30, 2021.

Concentrations of Risk

Of total net accounts receivable, three U.S. wholesalers accounted for 73% as of June 30, 2021 and 72% as of December 31, 2020, and substantially all of AbbVie’s net revenues in the United States were to these three wholesalers.

Humira (adalimumab) is AbbVie’s single largest product and accounted for approximately 37% of AbbVie’s total net revenues for the six months ended June 30, 2021 and 50% for the six months ended June 30, 2020.

Debt and Credit Facilities

In April 2021, the company repaid $1.8 billion aggregate principal amount of 2.3% senior notes that were scheduled to mature in May 2021. In May 2021, the company repaid €750 million aggregate principal amount of 0.5% senior euro notes that were scheduled to mature in June 2021. These repayments were made by exercising, under the terms of the notes, 30-day early redemptions at 100% of the principal amounts. The company also repaid $750 million aggregate principal amount of floating rate senior notes at maturity in May 2021.

In connection with the acquisition of Allergan, in May 2020, the company borrowed $3.0 billion under a $6.0 billion term loan credit agreement, consisting of a $1.0 billion floating rate three-year term loan tranche and a $2.0 billion floating rate five-year term loan tranche. Subsequent to these borrowings, AbbVie terminated the unused commitments of the lenders under the term loan.

In May 2020, AbbVie completed its previously announced offers to exchange any and all outstanding notes of certain series issued by Allergan for new notes to be issued by AbbVie and cash. Following the settlement of the exchange offers, AbbVie issued $14.0 billion and €3.1 billion of new notes in exchange for the Allergan notes tendered in the exchange offers. The aggregate principal amount of Allergan notes that remained outstanding following the settlement of the exchange offers was approximately $1.5 billion and €635 million. The exchange transaction was accounted for as a modification of the assumed debt instruments.

In May 2020, the company also repaid $3.8 billion aggregate principal amount of 2.5% senior notes at maturity.

Short-Term Borrowings

There were no commercial paper borrowings outstanding as of June 30, 2021 and December 31, 2020. There were no commercial paper borrowings issued during the six months ended June 30, 2021. The weighted-average interest rate on commercial paper borrowings was 1.8% for the six months ended June 30, 2020.

Post-Employment Benefits

6 Months Ended

Jun. 30, 2021

Postemployment Benefits [Abstract]

Post-Employment Benefits

The following table summarizes net periodic benefit cost relating to the company’s defined benefit and other post-employment plans:


	Defined benefit plans								Other post- employment plans
	Three months ended June 30,				Six months ended June 30,				Three months ended June 30,				Six months ended June 30,
(in millions)	2021		2020		2021		2020		2021		2020		2021		2020
Service cost	$	109	$	92	$	221	$	184	$	12	$	9	$	24	$	21
Interest cost	60		67		118		128		4		8		9		17
Expected return on plan assets	(166)		(143)		(332)		(278)		—		—		—		—
Amortization of prior service cost (credit)	—		—		1		1		(9)		(1)		(19)		(2)
Amortization of actuarial loss	75		59		145		113		8		5		16		12
Net periodic benefit cost	$	78	$	75	$	153	$	148	$	15	$	21	$	30	$	48

The components of net periodic benefit cost other than service cost are included in other expense, net in the condensed consolidated statements of earnings.

Equity

6 Months Ended

Jun. 30, 2021

Stockholders' Equity Note [Abstract]

Equity

EquityStock-Based Compensation

In May 2021, stockholders of the company approved the AbbVie Amended and Restated 2013 Incentive Stock Program (the Amended Plan), which amends and restates the AbbVie 2013 Incentive Stock Program, including an increase in the number of shares available for issuance of 44 million shares and an extension of the program to May 2031. Stock-based compensation expense is principally related to awards issued pursuant to the AbbVie 2013 Incentive Stock Program and the Amended Plan and is summarized as follows:


	Three months ended June 30,				Six months ended June 30,
(in millions)	2021		2020		2021		2020
Cost of products sold	$	10	$	11	$	30	$	26
Research and development	47		54		134		146
Selling, general and administrative	102		171		264		283
Pre-tax compensation expense	159		236		428		455
Tax benefit	26		38		74		77
After-tax compensation expense	$	133	$	198	$	354	$	378

Stock Options

During the six months ended June 30, 2021, primarily in connection with the company's annual grant, AbbVie granted 1.1 million stock options with a weighted-average grant-date fair value of $16.28. As of June 30, 2021, $15 million of unrecognized compensation cost related to stock options is expected to be recognized as expense over approximately the next two years.

RSUs and Performance Shares

During the six months ended June 30, 2021, primarily in connection with the company's annual grant, AbbVie granted 7.3 million RSUs and performance shares with a weighted-average grant-date fair value of $105.29. As of June 30, 2021, $849 million of unrecognized compensation cost related to RSUs and performance shares is expected to be recognized as expense over approximately the next two years.

Cash Dividends

The following table summarizes quarterly cash dividends declared during 2021 and 2020:


2021				2020
Date Declared	Payment Date	Dividend Per Share		Date Declared	Payment Date	Dividend Per Share
06/17/21	08/16/21	$	1.30	10/30/20	02/16/21	$	1.30
02/18/21	05/14/21	$	1.30	09/11/20	11/16/20	$	1.18
				06/17/20	08/14/20	$	1.18
				02/20/20	05/15/20	$	1.18

Stock Repurchase Program

The company's stock repurchase authorization permits purchases of AbbVie shares from time to time in open-market or private transactions at management's discretion. The program has no time limit and can be discontinued at any time. Shares repurchased under this program are recorded at acquisition cost, including related expenses, and are available for general corporate purposes.

AbbVie repurchased 5 million shares for $550 million during the six months ended June 30, 2021 and 6 million shares for $500 million during the six months ended June 30, 2020. AbbVie's remaining stock repurchase authorization was approximately $2.6 billion as of June 30, 2021.

Accumulated Other Comprehensive Loss

The following table summarizes the changes in each component of accumulated other comprehensive loss, net of tax, for the six months ended June 30, 2021:


(in millions)	Foreign currency translation adjustments		Net investment hedging activities		Pension and post-employment benefits		Cash flow hedging activities		Total
Balance as of December 31, 2020	$	583	$	(790)	$	(3,067)	$	157	$	(3,117)
Other comprehensive income (loss) before reclassifications	(433)		267		16		27		(123)
Net losses (gains) reclassified from accumulated other comprehensive loss	—		(7)		113		31		137
Net current-period other comprehensive income (loss)	(433)		260		129		58		14
Balance as of June 30, 2021	$	150	$	(530)	$	(2,938)	$	215	$	(3,103)

Other comprehensive income for the six months ended June 30, 2021 included foreign currency translation adjustments totaling a loss of $433 million, which was principally due to the impact of the weakening of the Euro on the translation of the company’s Euro-denominated assets.

The following table summarizes the changes in each component of accumulated other comprehensive loss, net of tax, for the six months ended June 30, 2020:


(in millions)	Foreign currency translation adjustments		Net investment hedging activities		Pension and post- employment benefits		Cash flow hedging activities		Total
Balance as of December 31, 2019	$	(928)	$	9	$	(2,965)	$	288	$	(3,596)
Other comprehensive income (loss) before reclassifications	214		(131)		1		(2)		82
Net losses (gains) reclassified from accumulated other comprehensive loss	—		(10)		98		(9)		79
Net current-period other comprehensive income (loss)	214		(141)		99		(11)		161
Balance as of June 30, 2020	$	(714)	$	(132)	$	(2,866)	$	277	$	(3,435)

Other comprehensive income for the six months ended June 30, 2020 included foreign currency translation adjustments totaling a gain of $214 million, which was principally due to the impact of the strengthening of the Euro on the translation of the company’s Euro-denominated assets.

The following table presents the impact on AbbVie’s condensed consolidated statements of earnings for significant amounts reclassified out of each component of accumulated other comprehensive loss:


	Three months ended June 30,				Six months ended June 30,
(in millions) (brackets denote gains)	2021		2020		2021		2020
Net investment hedging activities
Gains on derivative amount excluded from effectiveness testing(a)	$	(5)	$	(5)	$	(9)	$	(13)
Tax expense	1		1		2		3
Total reclassifications, net of tax	$	(4)	$	(4)	$	(7)	$	(10)
Pension and post-employment benefits
Amortization of actuarial losses and other(b)	$	74	$	64	$	143	$	125
Tax benefit	(16)		(14)		(30)		(27)
Total reclassifications, net of tax	$	58	$	50	$	113	$	98
Cash flow hedging activities
Losses on foreign currency forward exchange contracts(c)	$	22	$	—	$	34	$	—
Gains on treasury rate lock agreements(a)	(6)		(6)		(12)		(12)
Losses on interest rate swap contracts(a)	7		3		14		2
Tax benefit	(3)		—		(5)		1
Total reclassifications, net of tax	$	20	$	(3)	$	31	$	(9)

(a) Amounts are included in interest expense, net (see Note 8).

(b) Amounts are included in the computation of net periodic benefit cost (see Note 9).

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesThe effective tax rate was 34% for the three months and 14% for the six months ended June 30, 2021 compared to 7% income tax expense on pre-tax loss for the three months ended June 30, 2020 and 6% income tax expense on pre-tax income for the six months ended June 30, 2020. The effective tax rate in each period differed from the U.S. statutory tax rate of 21% principally due to the benefit from foreign operations which reflects the impact of lower income tax rates in locations outside the United States, tax incentives in Puerto Rico and other foreign tax jurisdictions and business development activities. The increase in the effective tax rate for the three and six months ended June 30, 2021 over the prior year was primarily due to accretion on contingent consideration in 2021 as well as non-deductible Allergan acquisition related expenses and a change in tax rate in a foreign jurisdiction in 2020.Due to the potential for resolution of federal, state and foreign examinations and the expiration of various statutes of limitations, it is reasonably possible that the company’s gross unrecognized tax benefits balance may change within the next 12 months by up to $116 million.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Legal Proceedings and Contingencies	6 Months Ended
Legal Proceedings and Contingencies	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings and Contingencies	Legal Proceedings and Contingencies AbbVie is subject to contingencies, such as various claims, legal proceedings and investigations regarding product liability, intellectual property, commercial, securities and other matters that arise in the normal course of business. The most significant matters are described below. Loss contingency provisions are recorded for probable losses at management’s best estimate of a loss, or when a best estimate cannot be made, a minimum loss contingency amount within a probable range is recorded. Initiation of new legal proceedings or a change in the status of existing proceedings may result in a change in the estimated loss accrued by AbbVie. While it is not feasible to predict the outcome of all proceedings and exposures with certainty, management believes that their ultimate disposition should not have a material adverse effect on AbbVie’s consolidated financial position, results of operations or cash flows.Subject to certain exceptions specified in the separation agreement by and between Abbott Laboratories (Abbott) and AbbVie, AbbVie assumed the liability for, and control of, all pending and threatened legal matters related to its business, including liabilities for any claims or legal proceedings related to products that had been part of its business, but were discontinued prior to the distribution, as well as assumed or retained liabilities, and will indemnify Abbott for any liability arising out of or resulting from such assumed legal matters. Antitrust Litigation Lawsuits are pending against AbbVie and others generally alleging that the 2005 patent litigation settlement involving Niaspan entered into between Kos Pharmaceuticals, Inc. (a company acquired by Abbott in 2006 and presently a subsidiary of AbbVie) and a generic company violates federal and state antitrust laws and state unfair and deceptive trade practices and unjust enrichment laws. Plaintiffs generally seek monetary damages and/or injunctive relief and attorneys' fees. The lawsuits pending in federal court consist of four individual plaintiff lawsuits and two consolidated purported class actions: one brought by Niaspan direct purchasers and one brought by Niaspan end-payers. The cases are pending in the United States District Court for the Eastern District of Pennsylvania for coordinated or consolidated pre-trial proceedings under the MDL Rules as In re: Niaspan Antitrust Litigation, MDL No. 2460. In August 2019, the court certified a class of direct purchasers of Niaspan. In June 2020, the court denied the end-payers' motion to certify a class. In October 2016, the Orange County, California District Attorney’s Office filed a lawsuit on behalf of the State of California regarding the Niaspan patent litigation settlement in Orange County Superior Court, asserting a claim under the unfair competition provision of the California Business and Professions Code seeking injunctive relief, restitution, civil penalties and attorneys’ fees. In September 2014, the Federal Trade Commission (FTC) filed a lawsuit, FTC v. AbbVie Inc., et al., against AbbVie and others in the United States District Court for the Eastern District of Pennsylvania, alleging that 2011 patent litigation with two generic companies regarding AndroGel was sham litigation and the settlements of that litigation violated federal antitrust law. In May 2015, the court dismissed the FTC’s settlement-related claim. In June 2018, following a bench trial, the court found for the FTC on its sham litigation claim and ordered a disgorgement remedy of $448 million, plus prejudgment interest. The court denied the FTC’s request for injunctive relief. In September 2020, the United States Court of Appeals for the Third Circuit reversed the district court’s finding of sham litigation with respect to one generic company and affirmed with respect to the other but held the FTC lacked authority to obtain a disgorgement remedy and vacated the district court’s award. The Third Circuit also affirmed the district court’s denial of the FTC’s injunction request and reinstated the FTC’s settlement-related claim for further proceedings in the district court. In August 2019, direct purchasers of AndroGel filed a lawsuit, King Drug Co. of Florence, Inc., et al. v. AbbVie Inc., et al., against AbbVie and others in the United States District Court for the Eastern District of Pennsylvania, alleging that 2006 patent litigation settlements and related agreements by Solvay Pharmaceuticals, Inc. (a company Abbott acquired in February 2010 and now known as AbbVie Products LLC) with three generic companies violated federal antitrust law, and also making allegations similar to those in FTC v. AbbVie Inc. (above). In May 2020, Perrigo Company and related entities filed a lawsuit against AbbVie and others in the United States District Court for the Eastern District of Pennsylvania, making sham litigation allegations similar to those in FTC v. AbbVie Inc. (above). In October 2020, the Perrigo lawsuit was transferred to the United States District Court for New Jersey. Between March and May 2019, 12 putative class action lawsuits were filed in the United States District Court for the Northern District of Illinois by indirect Humira purchasers, alleging that AbbVie’s settlements with biosimilar manufacturers and AbbVie’s Humira patent portfolio violated state and federal antitrust laws. The court consolidated these lawsuits as In re: Humira (Adalimumab) Antitrust Litigation. In June 2020, the court dismissed the consolidated litigation with prejudice. The plaintiffs have appealed the dismissal. Lawsuits are pending against Forest Laboratories, LLC and others generally alleging that 2009 and 2010 patent litigation settlements involving Namenda entered into between Forest and generic companies and other conduct by Forest involving Namenda, violated state antitrust, unfair and deceptive trade practices, and unjust enrichment laws. Plaintiffs generally seek monetary damages, injunctive relief and attorneys’ fees. The lawsuits, purported class actions filed by indirect purchasers of Namenda, are consolidated as In re: Namenda Indirect Purchaser Antitrust Litigation in the United States District Court for the Southern District of New York. Lawsuits are pending against Allergan Inc. generally alleging that Allergan’s petitioning to the U.S. Patent Office and Food and Drug Administration and other conduct by Allergan involving Restasis violated federal and state antitrust laws and state unfair and deceptive trade practices and unjust enrichment laws. Plaintiffs generally seek monetary damages, injunctive relief and attorneys’ fees. The lawsuits, certified as a class action filed on behalf of indirect purchasers of Restasis, are consolidated for pre-trial purposes in the United States District Court for the Eastern District of New York under the MDL Rules as In re: Restasis (Cyclosporine Ophthalmic Emulsion) Antitrust Litigation, MDL No. 2819. In May 2021, the parties reached an agreement in principle to settle this matter that, once finalized, will be subject to court approval. Lawsuits are pending against Forest Laboratories, LLC and others generally alleging that 2012 and 2013 patent litigation settlements involving Bystolic with six generic manufacturers violated federal and state antitrust laws and state unfair and deceptive trade practices and unjust enrichment laws. Plaintiffs generally seek monetary damages, injunctive relief, and attorneys’ fees. The lawsuits, purported class actions filed on behalf of direct and indirect purchasers of Bystolic, are consolidated as In re: Bystolic Antitrust Litigation in the United States District Court for the Southern District of New York. Government Proceedings Lawsuits are pending against Allergan and other defendants generally alleging that they improperly marketed and/or distributed prescription opioid products. Approximately 3,100 matters are pending against Allergan. The federal court cases are consolidated for pre-trial purposes in the United States District Court for the Northern District of Ohio under the MDL rules as In re: National Prescription Opiate Litigation, MDL No. 2804. Approximately 300 of the claims are pending in various state courts. The plaintiffs in these cases, which include states, counties, cities, school districts, hospitals, union trust funds and third-party payors, generally seek compensatory and punitive damages. In July 2019, the New Mexico Attorney General filed a lawsuit, State of New Mexico ex rel. Balderas v. AbbVie Inc., et al., in New Mexico District Court for Santa Fe County against AbbVie and other companies alleging their marketing of AndroGel violated New Mexico’s Unfair Practices Act. In October 2020, the state added a claim under the New Mexico False Advertising Act. Shareholder and Securities Litigation In June 2016, a lawsuit, Elliott Associates, L.P., et al. v. AbbVie Inc., was filed by five investment funds against AbbVie in the Cook County, Illinois Circuit Court alleging that AbbVie made misrepresentations and omissions in connection with its proposed transaction with Shire. Similar lawsuits were filed between July 2017 and October 2019 against AbbVie and in some instances its chief executive officer in the same court by additional investment funds. The court granted motions dismissing the claims of three investment-fund plaintiffs, which they appealed. In March 2021, in the first of those appeals, the dismissal was affirmed. One of these plaintiffs refiled its lawsuit in New York state court in June 2020 while the appeal of its dismissal in Illinois is pending. In November 2020, the New York Supreme Court for the County of New York dismissed that lawsuit, which is being appealed. Plaintiffs seek compensatory and punitive damages. In October 2018, a federal securities purported class action lawsuit, Holwill v. AbbVie Inc., et al., was filed in the United States District Court for the Northern District of Illinois against AbbVie, its chief executive officer and former chief financial officer, alleging that reasons stated for Humira sales growth in financial filings between 2013 and 2017 were misleading because they omitted alleged misconduct in connection with Humira patient and reimbursement support services and other services and items of value that allegedly induced Humira prescriptions. Lawsuits are pending against Allergan and certain of its current and former officers alleging they made misrepresentations and omissions regarding Allergan's textured breast implants. The lawsuits, which were filed by Allergan shareholders, have been consolidated in the United States District Court for the Southern District of New York as In re: Allergan plc Securities Litigation. The plaintiffs generally seek compensatory damages and attorneys’ fees. In September 2019, the court partially granted Allergan's motion to dismiss. In September 2020, the court denied plaintiffs’ class certification motion because it found the lead plaintiff to be an inadequate representative of the proposed class but allowed another putative class member to propose itself as a new lead plaintiff. In December 2020, the court appointed a new lead plaintiff. Lawsuits are pending against Allergan and certain of its current and former officers alleging they made misrepresentations and omissions regarding Allergan’s former Actavis generics unit and its alleged anticompetitive conduct with other generic drug companies. The lawsuits were filed by Allergan shareholders and consist of three purported class actions and one individual action seeking monetary damages and attorney’s fees that have been consolidated in the U.S. District Court for the District of New Jersey as In re: Allergan Generic Drug Pricing Securities Litigation. In July 2021, the parties reached an agreement to settle the class action lawsuits, which is pending court approval. Product Liability and General Litigation In 2018, a qui tam lawsuit, U.S. ex rel. Silbersher v. Allergan Inc., et al., was filed in the United States District Court for the Northern District of California against several Allergan entities and others, alleging that their conduct before the U.S. Patent Office resulted in false claims for payment being made to federal and state healthcare payors for Namenda XR and Namzaric. The plaintiff-relator seeks damages and attorneys' fees under the federal False Claims Act and state law analogues. The federal government and state governments declined to intervene in the lawsuit. Intellectual Property Litigation AbbVie Inc. and AbbVie Biotechnology Ltd are seeking to enforce their patent rights relating to adalimumab (a drug AbbVie sells under the trademark Humira). In April 2021 and May 2021, cases were filed in the United States District Court for the Northern District of Illinois against Alvotech hf. AbbVie alleges defendant’s proposed biosimilar adalimumab product infringes certain AbbVie patents and seeks declaratory and injunctive relief. Defendant has filed a motion to dismiss the April 2021 case on jurisdictional grounds. In May 2021, Alvotech hf. and its U.S. subsidiary Alvotech USA, Inc. filed a declaratory judgment action in the United States Eastern District of Virginia seeking a declaration that the same patents at issue in AbbVie’s April 2021 Illinois case are invalid or not infringed. AbbVie has filed a motion to dismiss or transfer that case to the Northern District of Illinois. Pharmacyclics LLC, a wholly owned subsidiary of AbbVie, is seeking to enforce its patent rights relating to ibrutinib tablets (a drug Pharmacyclics sells under the trademark Imbruvica). Cases were filed in the United States District Court for the District of Delaware in March 2019 and March 2020 against Alvogen Pine Brook LLC and Natco Pharma Ltd. Pharmacyclics alleges defendants’ proposed generic ibrutinib tablet product infringes certain Pharmacyclics patents and seeks declaratory and injunctive relief. Janssen Biotech, Inc. which is in a global collaboration with Pharmacyclics concerning the development and marketing of Imbruvica, is the co-plaintiff in these suits. Allergan USA, Inc., Allergan Sales, LLC, and Forest Laboratories Holdings Limited, wholly owned subsidiaries of AbbVie, are seeking to enforce patent rights relating to cariprazine (a drug sold under the trademark Vraylar). Litigation was filed in the United States District Court for the District of Delaware in December 2019 against Sun Pharmaceutical Industries Limited and Sun Pharma Global FZE; Aurobindo Pharma Limited and Aurobindo Pharma USA, Inc.; and Zydus Pharmaceuticals (USA), Inc. and Cadila Healthcare Limited. Allergan alleges defendants' proposed generic cariprazine products infringe certain patents and seeks declaratory and injunctive relief. Gedeon Richter Plc, Inc. which is in a global collaboration with Allergan concerning the development and marketing of Vraylar, is the co-plaintiff in this suit.

Segment Information

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Segment Information

Segment InformationAbbVie operates as a single global business segment dedicated to the research and development, manufacturing, commercialization and sale of innovative medicines and therapies. This operating structure enables the Chief Executive Officer, as chief operating decision maker (CODM), to allocate resources and assess business performance on a global basis in order to achieve established long-term strategic goals. Consistent with this structure, a global research and development and supply chain organization is responsible for the discovery, manufacturing and supply of products. Commercial efforts that coordinate the marketing, sales and distribution of these products are organized by geographic region or therapeutic area. All of these activities are supported by a global corporate administrative staff. The determination of a single business segment is consistent with the consolidated financial information regularly reviewed by the CODM for purposes of assessing performance, allocating resources and planning and forecasting future periods.The following table details AbbVie’s worldwide net revenues:


		Three months ended June 30,				Six months ended June 30,

(in millions)		2021		2020		2021		2020
Immunology
Humira	United States	$	4,257	$	3,974	$	8,164	$	7,630
	International	811		863		1,771		1,910
	Total	$	5,068	$	4,837	$	9,935	$	9,540
Skyrizi	United States	$	565	$	289	$	1,046	$	555
	International	109		41		202		75
	Total	$	674	$	330	$	1,248	$	630
Rinvoq	United States	$	296	$	136	$	541	$	218
	International	82		13		140		17
	Total	$	378	$	149	$	681	$	235
Hematologic Oncology
Imbruvica	United States	$	1,099	$	1,055	$	2,098	$	2,021
	Collaboration revenues	282		233		551		499
	Total	$	1,381	$	1,288	$	2,649	$	2,520
Venclexta	United States	$	223	$	191	$	448	$	392
	International	212		112		392		228
	Total	$	435	$	303	$	840	$	620
Aesthetics
Botox Cosmetic (a)	United States	$	366	$	147	$	671	$	147
	International	218		79		390		79
	Total	$	584	$	226	$	1,061	$	226
Juvederm Collection (a)	United States	$	196	$	56	$	319	$	56
	International	232		57		430		57
	Total	$	428	$	113	$	749	$	113
Other Aesthetics (a)	United States	$	363	$	127	$	663	$	127
	International	59		15		102		15
	Total	$	422	$	142	$	765	$	142
Neuroscience
Botox Therapeutic (a)	United States	$	488	$	254	$	917	$	254
	International	115		43		218		43
	Total	$	603	$	297	$	1,135	$	297
Vraylar (a)	United States	$	432	$	192	$	778	$	192


Duodopa	United States	$	25	$	25	$	50	$	50
	International	102		93		206		192
	Total	$	127	$	118	$	256	$	242
Ubrelvy (a)	United States	$	126	$	22	$	207	$	22


Other Neuroscience (a)	United States	$	167	$	103	$	323	$	103
	International	4		2		8		2
	Total	$	171	$	105	$	331	$	105


		Three months ended June 30,				Six months ended June 30,

(in millions)		2021		2020		2021		2020
Eye Care
Lumigan/Ganfort (a)	United States	$	72	$	35	$	138	$	35
	International	77		41		154		41
	Total	$	149	$	76	$	292	$	76
Alphagan/Combigan(a)	United States	$	102	$	47	$	182	$	47
	International	40		22		78		22
	Total	$	142	$	69	$	260	$	69
Restasis (a)	United States	$	312	$	138	$	579	$	138
	International	15		6		28		6
	Total	$	327	$	144	$	607	$	144
Other Eye Care (a)	United States	$	130	$	54	$	247	$	54
	International	171		74		330		74
	Total	$	301	$	128	$	577	$	128
Women's Health
Lo Loestrin (a)	United States	$	93	$	78	$	195	$	78
	International	5		2		7		2
	Total	$	98	$	80	$	202	$	80
Orilissa/Oriahnn	United States	$	36	$	30	$	65	$	60
	International	2		1		3		2
	Total	$	38	$	31	$	68	$	62
Other Women's Health (a)	United States	$	50	$	34	$	96	$	34
	International	5		2		5		2
	Total	$	55	$	36	$	101	$	36
Other Key Products
Mavyret	United States	$	204	$	146	$	374	$	380
	International	238		230		483		555
	Total	$	442	$	376	$	857	$	935
Creon	United States	$	280	$	252	$	554	$	528
Lupron	United States	$	151	$	167	$	322	$	362
	International	47		38		89		76
	Total	$	198	$	205	$	411	$	438
Linzess/Constella (a)	United States	$	260	$	130	$	475	$	130
	International	8		3		15		3
	Total	$	268	$	133	$	490	$	133
Synthroid	United States	$	192	$	183	$	383	$	388



All other (a)		$	640	$	590	$	1,532	$	1,143
Total net revenues		$	13,959	$	10,425	$	26,969	$	19,044

(a) Net revenues include Allergan product revenues after the acquisition closing date of May 8, 2020.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Basis of Presentation (Policies)	6 Months Ended
Basis of Presentation (Policies)	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements ASU No. 2019-12 In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740). The standard includes simplifications related to accounting for income taxes including removing certain exceptions related to the approach for intraperiod tax allocation and the recognition of deferred tax liabilities for outside basis differences. The standard also clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. AbbVie adopted the standard in the first quarter of 2021. The adoption did not have a material impact on its consolidated financial statements.

Supplemental Financial Information (Tables)

6 Months Ended

Jun. 30, 2021

Supplemental Financial Information

Schedule of interest expense, net

Interest Expense, Net


	Three months ended June 30,				Six months ended June 30,
(in millions)	2021		2020		2021		2020
Interest expense	$	615	$	632	$	1,247	$	1,195
Interest income	(9)		(18)		(19)		(153)
Interest expense, net	$	606	$	614	$	1,228	$	1,042

Schedule of inventories

Inventories


(in millions)	June 30, 2021		December 31, 2020
Finished goods	$	1,140	$	1,318
Work-in-process	1,372		1,201
Raw materials	874		791
Inventories	$	3,386	$	3,310

Schedule of property and equipment, net

Property and Equipment, Net


(in millions)	June 30, 2021		December 31, 2020
Property and equipment, gross	$	10,816	$	10,859
Accumulated depreciation	(5,655)		(5,611)
Property and equipment, net	$	5,161	$	5,248

Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Schedule of basic and diluted earnings per share, impact of two-class method

The following table summarizes the impact of the two-class method:


	Three months ended June 30,				Six months ended June 30,
(in millions, except per share data)	2021		2020		2021		2020
Basic EPS
Net earnings (loss) attributable to AbbVie Inc.	$	766	$	(738)	$	4,319	$	2,272
Earnings allocated to participating securities	17		18		34		28
Earnings (loss) available to common shareholders	$	749	$	(756)	$	4,285	$	2,244
Weighted-average basic shares outstanding	1,769		1,647		1,769		1,564
Basic earnings (loss) per share attributable to AbbVie Inc.	$	0.42	$	(0.46)	$	2.42	$	1.44

Diluted EPS
Net earnings (loss) attributable to AbbVie Inc.	$	766	$	(738)	$	4,319	$	2,272
Earnings allocated to participating securities	17		18		34		28
Earnings (loss) available to common shareholders	$	749	$	(756)	$	4,285	$	2,244
Weighted-average shares of common stock outstanding	1,769		1,647		1,769		1,564
Effect of dilutive securities	7		—		7		4
Weighted-average diluted shares outstanding	1,776		1,647		1,776		1,568
Diluted earnings (loss) per share attributable to AbbVie Inc.	$	0.42	$	(0.46)	$	2.41	$	1.43

Collaborations (Tables)

6 Months Ended

Jun. 30, 2021

Janssen Biotech Inc.

Collaborative and license agreements

Schedule of profit and cost sharing relationship

The following table shows the profit and cost sharing relationship between Janssen and AbbVie:


	Three months ended June 30,				Six months ended June 30,
(in millions)	2021		2020		2021		2020
United States - Janssen's share of profits (included in cost of products sold)	$	514	$	493	$	979	$	943
International - AbbVie's share of profits (included in net revenues)	282		233		551		499
Global - AbbVie's share of other costs (included in respective line items)	74		67		144		137

Genentech, Inc.

Collaborative and license agreements

Schedule of profit and cost sharing relationship

The following table shows the profit and cost sharing relationship between Genentech and AbbVie:


	Three months ended June 30,				Six months ended June 30,
(in millions)	2021		2020		2021		2020
Genentech's share of profits, including royalties (included in cost of products sold)	$	168	$	123	$	327	$	251
AbbVie's share of sales and marketing costs from U.S. collaboration (included in SG&A)	8		11		19		25
AbbVie's share of development costs (included in R&D)	34		36		76		61

Goodwill and Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of changes in the carrying amount of goodwill

The following table summarizes the changes in the carrying amount of goodwill:


(in millions)
Balance as of December 31, 2020	$	33,124

Measurement period adjustments(a)	(564)
Foreign currency translation adjustments and other	(162)
Balance as of June 30, 2021	$	32,398

(a) Measurement period adjustments relate to the acquisition of Allergan (see Note 4).

Summary of definite-lived intangible assets

The following table summarizes intangible assets:


	June 30, 2021						December 31, 2020
(in millions)	Gross carrying amount		Accumulated amortization		Net carrying amount		Gross carrying amount		Accumulated amortization		Net carrying amount
Definite-lived intangible assets
Developed product rights	$	87,771	$	(15,153)	$	72,618	$	87,707	$	(11,620)	$	76,087
License agreements	8,486		(3,314)		5,172		7,828		(2,916)		4,912
Total definite-lived intangible assets	96,257		(18,467)		77,790		95,535		(14,536)		80,999
Indefinite-lived research and development	1,550		—		1,550		1,877		—		1,877
Total intangible assets, net	$	97,807	$	(18,467)	$	79,340	$	97,412	$	(14,536)	$	82,876

Summary of indefinite-lived intangible assets

The following table summarizes intangible assets:


	June 30, 2021						December 31, 2020
(in millions)	Gross carrying amount		Accumulated amortization		Net carrying amount		Gross carrying amount		Accumulated amortization		Net carrying amount
Definite-lived intangible assets
Developed product rights	$	87,771	$	(15,153)	$	72,618	$	87,707	$	(11,620)	$	76,087
License agreements	8,486		(3,314)		5,172		7,828		(2,916)		4,912
Total definite-lived intangible assets	96,257		(18,467)		77,790		95,535		(14,536)		80,999
Indefinite-lived research and development	1,550		—		1,550		1,877		—		1,877
Total intangible assets, net	$	97,807	$	(18,467)	$	79,340	$	97,412	$	(14,536)	$	82,876

Integration and Restructuring Plans (Tables)

6 Months Ended

Jun. 30, 2021

Allergan integration plan

Restructuring charges

Summary of charges associated with integration plan

The following table summarizes the charges associated with the Allergan acquisition integration plan:


		Severance and employee benefits										Other integration
	Three months ended June 30,			Six months ended June 30,						Three months ended June 30,	Six months ended June 30,
(in millions)		2021		2020		2021		2020				2021		2020		2021		2020
Cost of products sold		$	—	$	33	$	6	$	33			$	25	$	1	$	40	$	1
Research and development		—		132		—		132				18		44		69		44
Selling, general and administrative		12		318		29		318				75		60		125		98
Total charges		$	12	$	483	$	35	$	483			$	118	$	105	$	234	$	143

Summary of cash activity in the restructuring reserve

The following table summarizes the cash activity in the recorded liability associated with the integration plan for the six months ended June 30, 2021:


(in millions)	Severance and employee benefits		Other integration
Accrued balance as of December 31, 2020	$	367	$	20
Charges	31		216


Payments and other adjustments	(159)		(222)
Accrued balance as of June 30, 2021	$	239	$	14

Other restructuring

Restructuring charges

Summary of cash activity in the restructuring reserve

The following table summarizes the cash activity in the restructuring reserve for the six months ended June 30, 2021:


(in millions)
Accrued balance as of December 31, 2020	$	90
Restructuring charges	43
Payments and other adjustments	(64)
Accrued balance as of June 30, 2021	$	69

Financial Instruments and Fair Value Measures (Tables)

6 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

Summary of amounts and location of derivatives on the condensed consolidated balance sheets

The following table summarizes the amounts and location of AbbVie’s derivative instruments on the condensed consolidated balance sheets:


	Fair value – Derivatives in asset position					Fair value – Derivatives in liability position
(in millions)	Balance sheet caption	June 30, 2021		December 31, 2020		Balance sheet caption	June 30, 2021		December 31, 2020
Foreign currency forward exchange contracts
Designated as cash flow hedges	Prepaid expenses and other	$	14	$	2	Accounts payable and accrued liabilities	$	22	$	82
Designated as cash flow hedges	Other assets	2		—		Other long-term liabilities	1		6
Designated as net investment hedges	Prepaid expenses and other	64		—		Accounts payable and accrued liabilities	—		11
Not designated as hedges	Prepaid expenses and other	38		49		Accounts payable and accrued liabilities	59		33
Interest rate swap contracts
Designated as cash flow hedges	Prepaid expenses and other	—		—		Accounts payable and accrued liabilities	4		14
Designated as cash flow hedges	Other assets	—		—		Other long-term liabilities	14		20
Designated as fair value hedges	Prepaid expenses and other	—		7		Accounts payable and accrued liabilities	—		—
Designated as fair value hedges	Other assets	70		131		Other long-term liabilities	—		—
Total derivatives		$	188	$	189		$	100	$	166

Schedule of pre-tax amounts of derivatives designated as cash flow hedges recognized in other comprehensive income (loss)

The following table presents the pre-tax amounts of gains (losses) from derivative instruments recognized in other comprehensive income:


	Three months ended June 30,				Six months ended June 30,
(in millions)	2021		2020		2021		2020
Foreign currency forward exchange contracts
Designated as cash flow hedges	$	(11)	$	(2)	$	24	$	47
Designated as net investment hedges	(14)		(16)		85		24
Interest rate swap contracts designated as cash flow hedges	—		(6)		1		(52)

Schedule of pre-tax amounts of derivatives designated as net investment hedges recognized in other comprehensive income (loss)

The following table presents the pre-tax amounts of gains (losses) from derivative instruments recognized in other comprehensive income:


	Three months ended June 30,				Six months ended June 30,
(in millions)	2021		2020		2021		2020
Foreign currency forward exchange contracts
Designated as cash flow hedges	$	(11)	$	(2)	$	24	$	47
Designated as net investment hedges	(14)		(16)		85		24
Interest rate swap contracts designated as cash flow hedges	—		(6)		1		(52)

Summary of pre-tax amounts and location of derivatives recognized in the condensed consolidated statements of earnings


		Three months ended June 30,				Six months ended June 30,
(in millions)	Statement of earnings caption	2021		2020		2021		2020
Foreign currency forward exchange contracts
Designated as cash flow hedges	Cost of products sold	$	(22)	$	—	$	(34)	$	—
Designated as net investment hedges	Interest expense, net	5		5		9		13
Not designated as hedges	Net foreign exchange loss	(3)		3		(28)		5
Treasury rate lock agreements designated as cash flow hedges	Interest expense, net	6		6		12		12
Interest rate swap contracts
Designated as cash flow hedges	Interest expense, net	(7)		(3)		(14)		(2)
Designated as fair value hedges	Interest expense, net	(11)		37		(68)		397
Debt designated as hedged item in fair value hedges	Interest expense, net	11		(37)		68		(397)

Summary of bases used to measure assets and liabilities carried at fair value on a recurring basis

The following table summarizes the bases used to measure certain assets and liabilities carried at fair value on a recurring basis on the condensed consolidated balance sheet as of June 30, 2021:


			Basis of fair value measurement
(in millions)	Total		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Assets
Cash and equivalents	$	8,546	$	2,886	$	5,660	$	—
Money market funds and time deposits	10		—		10		—
Debt securities	71		—		71		—
Equity securities	121		110		11		—
Interest rate swap contracts	70		—		70		—
Foreign currency contracts	118		—		118		—

Total assets	$	8,936	$	2,996	$	5,940	$	—
Liabilities
Interest rate swap contracts	$	18	$	—	$	18	$	—
Foreign currency contracts	82		—		82		—

Contingent consideration	14,989		—		—		14,989
Total liabilities	$	15,089	$	—	$	100	$	14,989

The following table summarizes the bases used to measure certain assets and liabilities carried at fair value on a recurring basis on the condensed consolidated balance sheet as of December 31, 2020:


			Basis of fair value measurement
(in millions)	Total		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Assets
Cash and equivalents	$	8,449	$	2,758	$	5,691	$	—
Money market funds and time deposits	12		—		12		—
Debt securities	50		—		50		—
Equity securities	159		149		10		—
Interest rate swap contracts	138		—		138		—
Foreign currency contracts	51		—		51		—

Total assets	$	8,859	$	2,907	$	5,952	$	—
Liabilities
Interest rate swap contracts	$	34	$	—	$	34	$	—
Foreign currency contracts	132		—		132		—

Contingent consideration	12,997		—		—		12,997
Total liabilities	$	13,163	$	—	$	166	$	12,997

Summary of significant level 3 unobservable inputs

The fair value of the company's contingent consideration liabilities as of June 30, 2021 was calculated using the following significant unobservable inputs:


	Range	Weighted average(a)
Discount rate	0.1% - 2.5%	1.4	%
Probability of payment for unachieved milestones	56% - 92%	87	%
Probability of payment for royalties by indication(b)	56% - 100%	95	%

Projected year of payments	2021 - 2034	2027

(a) Unobservable inputs were weighted by the relative fair value of the contingent consideration liabilities.

(b) Excluding approved indications, the estimated probability of payment ranged from 56% to 89% at June 30, 2021.

Schedule of changes in fair value of Level 3 inputs

The following table presents the changes in fair value of total contingent consideration liabilities which are measured using Level 3 inputs:


	Six months ended June 30,
(in millions)	2021		2020
Beginning balance	$	12,997	$	7,340
Additions(a)	—		121
Change in fair value recognized in net earnings	2,349		881
Payments	(357)		(129)
Ending balance	$	14,989	$	8,213

(a) Represents contingent consideration liabilities assumed in the Allergan acquisition.

Schedule of book values, approximate fair values and bases used to measure certain financial instruments

The book values, approximate fair values and bases used to measure the approximate fair values of certain financial instruments as of June 30, 2021 are shown in the table below:


					Basis of fair value measurement
(in millions)	Book value		Approximate fair value		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)



Liabilities
Short-term borrowings	$	17	$	17	$	—	$	17	$	—
Current portion of long-term debt and finance lease obligations, excluding fair value hedges	7,884		7,925		7,636		289		—
Long-term debt and finance lease obligations, excluding fair value hedges	74,051		82,070		80,747		1,323		—
Total liabilities	$	81,952	$	90,012	$	88,383	$	1,629	$	—

The book values, approximate fair values and bases used to measure the approximate fair values of certain financial instruments as of December 31, 2020 are shown in the table below:


					Basis of fair value measurement
(in millions)	Book value		Approximate fair value		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)



Liabilities
Short-term borrowings	$	34	$	34	$	—	$	34	$	—
Current portion of long-term debt and finance lease obligations, excluding fair value hedges	8,461		8,542		8,249		293		—
Long-term debt and finance lease obligations, excluding fair value hedges	77,283		87,761		86,137		1,624		—
Total liabilities	$	85,778	$	96,337	$	94,386	$	1,951	$	—

Post-Employment Benefits (Tables)

6 Months Ended

Jun. 30, 2021

Postemployment Benefits [Abstract]

Summary of net periodic benefit costs relating to the company's defined benefit and other post-employment plans

The following table summarizes net periodic benefit cost relating to the company’s defined benefit and other post-employment plans:


	Defined benefit plans								Other post- employment plans
	Three months ended June 30,				Six months ended June 30,				Three months ended June 30,				Six months ended June 30,
(in millions)	2021		2020		2021		2020		2021		2020		2021		2020
Service cost	$	109	$	92	$	221	$	184	$	12	$	9	$	24	$	21
Interest cost	60		67		118		128		4		8		9		17
Expected return on plan assets	(166)		(143)		(332)		(278)		—		—		—		—
Amortization of prior service cost (credit)	—		—		1		1		(9)		(1)		(19)		(2)
Amortization of actuarial loss	75		59		145		113		8		5		16		12
Net periodic benefit cost	$	78	$	75	$	153	$	148	$	15	$	21	$	30	$	48

Equity (Tables)

6 Months Ended

Jun. 30, 2021

Stockholders' Equity Note [Abstract]

Summary of share-based compensation expense

Stock-based compensation expense is principally related to awards issued pursuant to the AbbVie 2013 Incentive Stock Program and the Amended Plan and is summarized as follows:


	Three months ended June 30,				Six months ended June 30,
(in millions)	2021		2020		2021		2020
Cost of products sold	$	10	$	11	$	30	$	26
Research and development	47		54		134		146
Selling, general and administrative	102		171		264		283
Pre-tax compensation expense	159		236		428		455
Tax benefit	26		38		74		77
After-tax compensation expense	$	133	$	198	$	354	$	378

Summary of quarterly cash dividends

The following table summarizes quarterly cash dividends declared during 2021 and 2020:


2021				2020
Date Declared	Payment Date	Dividend Per Share		Date Declared	Payment Date	Dividend Per Share
06/17/21	08/16/21	$	1.30	10/30/20	02/16/21	$	1.30
02/18/21	05/14/21	$	1.30	09/11/20	11/16/20	$	1.18
				06/17/20	08/14/20	$	1.18
				02/20/20	05/15/20	$	1.18

Summary of changes in balances of each component of accumulated other comprehensive loss

The following table summarizes the changes in each component of accumulated other comprehensive loss, net of tax, for the six months ended June 30, 2021:


(in millions)	Foreign currency translation adjustments		Net investment hedging activities		Pension and post-employment benefits		Cash flow hedging activities		Total
Balance as of December 31, 2020	$	583	$	(790)	$	(3,067)	$	157	$	(3,117)
Other comprehensive income (loss) before reclassifications	(433)		267		16		27		(123)
Net losses (gains) reclassified from accumulated other comprehensive loss	—		(7)		113		31		137
Net current-period other comprehensive income (loss)	(433)		260		129		58		14
Balance as of June 30, 2021	$	150	$	(530)	$	(2,938)	$	215	$	(3,103)

The following table summarizes the changes in each component of accumulated other comprehensive loss, net of tax, for the six months ended June 30, 2020:


(in millions)	Foreign currency translation adjustments		Net investment hedging activities		Pension and post- employment benefits		Cash flow hedging activities		Total
Balance as of December 31, 2019	$	(928)	$	9	$	(2,965)	$	288	$	(3,596)
Other comprehensive income (loss) before reclassifications	214		(131)		1		(2)		82
Net losses (gains) reclassified from accumulated other comprehensive loss	—		(10)		98		(9)		79
Net current-period other comprehensive income (loss)	214		(141)		99		(11)		161
Balance as of June 30, 2020	$	(714)	$	(132)	$	(2,866)	$	277	$	(3,435)

Schedule of the significant amounts reclassified out of each component of accumulated other comprehensive loss

The following table presents the impact on AbbVie’s condensed consolidated statements of earnings for significant amounts reclassified out of each component of accumulated other comprehensive loss:


	Three months ended June 30,				Six months ended June 30,
(in millions) (brackets denote gains)	2021		2020		2021		2020
Net investment hedging activities
Gains on derivative amount excluded from effectiveness testing(a)	$	(5)	$	(5)	$	(9)	$	(13)
Tax expense	1		1		2		3
Total reclassifications, net of tax	$	(4)	$	(4)	$	(7)	$	(10)
Pension and post-employment benefits
Amortization of actuarial losses and other(b)	$	74	$	64	$	143	$	125
Tax benefit	(16)		(14)		(30)		(27)
Total reclassifications, net of tax	$	58	$	50	$	113	$	98
Cash flow hedging activities
Losses on foreign currency forward exchange contracts(c)	$	22	$	—	$	34	$	—
Gains on treasury rate lock agreements(a)	(6)		(6)		(12)		(12)
Losses on interest rate swap contracts(a)	7		3		14		2
Tax benefit	(3)		—		(5)		1
Total reclassifications, net of tax	$	20	$	(3)	$	31	$	(9)

(a) Amounts are included in interest expense, net (see Note 8).

(b) Amounts are included in the computation of net periodic benefit cost (see Note 9).

Segment Information (Tables)

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Schedule of worldwide net revenues

The following table details AbbVie’s worldwide net revenues:


		Three months ended June 30,				Six months ended June 30,

(in millions)		2021		2020		2021		2020
Immunology
Humira	United States	$	4,257	$	3,974	$	8,164	$	7,630
	International	811		863		1,771		1,910
	Total	$	5,068	$	4,837	$	9,935	$	9,540
Skyrizi	United States	$	565	$	289	$	1,046	$	555
	International	109		41		202		75
	Total	$	674	$	330	$	1,248	$	630
Rinvoq	United States	$	296	$	136	$	541	$	218
	International	82		13		140		17
	Total	$	378	$	149	$	681	$	235
Hematologic Oncology
Imbruvica	United States	$	1,099	$	1,055	$	2,098	$	2,021
	Collaboration revenues	282		233		551		499
	Total	$	1,381	$	1,288	$	2,649	$	2,520
Venclexta	United States	$	223	$	191	$	448	$	392
	International	212		112		392		228
	Total	$	435	$	303	$	840	$	620
Aesthetics
Botox Cosmetic (a)	United States	$	366	$	147	$	671	$	147
	International	218		79		390		79
	Total	$	584	$	226	$	1,061	$	226
Juvederm Collection (a)	United States	$	196	$	56	$	319	$	56
	International	232		57		430		57
	Total	$	428	$	113	$	749	$	113
Other Aesthetics (a)	United States	$	363	$	127	$	663	$	127
	International	59		15		102		15
	Total	$	422	$	142	$	765	$	142
Neuroscience
Botox Therapeutic (a)	United States	$	488	$	254	$	917	$	254
	International	115		43		218		43
	Total	$	603	$	297	$	1,135	$	297
Vraylar (a)	United States	$	432	$	192	$	778	$	192


Duodopa	United States	$	25	$	25	$	50	$	50
	International	102		93		206		192
	Total	$	127	$	118	$	256	$	242
Ubrelvy (a)	United States	$	126	$	22	$	207	$	22


Other Neuroscience (a)	United States	$	167	$	103	$	323	$	103
	International	4		2		8		2
	Total	$	171	$	105	$	331	$	105


		Three months ended June 30,				Six months ended June 30,

(in millions)		2021		2020		2021		2020
Eye Care
Lumigan/Ganfort (a)	United States	$	72	$	35	$	138	$	35
	International	77		41		154		41
	Total	$	149	$	76	$	292	$	76
Alphagan/Combigan(a)	United States	$	102	$	47	$	182	$	47
	International	40		22		78		22
	Total	$	142	$	69	$	260	$	69
Restasis (a)	United States	$	312	$	138	$	579	$	138
	International	15		6		28		6
	Total	$	327	$	144	$	607	$	144
Other Eye Care (a)	United States	$	130	$	54	$	247	$	54
	International	171		74		330		74
	Total	$	301	$	128	$	577	$	128
Women's Health
Lo Loestrin (a)	United States	$	93	$	78	$	195	$	78
	International	5		2		7		2
	Total	$	98	$	80	$	202	$	80
Orilissa/Oriahnn	United States	$	36	$	30	$	65	$	60
	International	2		1		3		2
	Total	$	38	$	31	$	68	$	62
Other Women's Health (a)	United States	$	50	$	34	$	96	$	34
	International	5		2		5		2
	Total	$	55	$	36	$	101	$	36
Other Key Products
Mavyret	United States	$	204	$	146	$	374	$	380
	International	238		230		483		555
	Total	$	442	$	376	$	857	$	935
Creon	United States	$	280	$	252	$	554	$	528
Lupron	United States	$	151	$	167	$	322	$	362
	International	47		38		89		76
	Total	$	198	$	205	$	411	$	438
Linzess/Constella (a)	United States	$	260	$	130	$	475	$	130
	International	8		3		15		3
	Total	$	268	$	133	$	490	$	133
Synthroid	United States	$	192	$	183	$	383	$	388



All other (a)		$	640	$	590	$	1,532	$	1,143
Total net revenues		$	13,959	$	10,425	$	26,969	$	19,044

(a) Net revenues include Allergan product revenues after the acquisition closing date of May 8, 2020.

Supplemental Financial Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Interest Expense, Net
Interest expense	$ 615	$ 632	$ 1,247	$ 1,195
Interest income	(9)	(18)	(19)	(153)
Interest expense, net	606	614	1,228	1,042
Inventories
Finished goods	1,140		1,140		$ 1,318
Work-in-process	1,372		1,372		1,201
Raw materials	874		874		791
Inventories	3,386		3,386		3,310
Property and Equipment
Property and equipment, gross	10,816		10,816		10,859
Accumulated depreciation	(5,655)		(5,655)		(5,611)
Property and equipment, net	5,161		5,161		$ 5,248
Depreciation expense	$ 201	$ 149	$ 407	$ 264

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Basic EPS
Net earnings (loss) attributable to AbbVie Inc.	$ 766	$ (738)	$ 4,319	$ 2,272
Earnings allocated to participating securities	17	18	34	28
Earnings (loss) available to common shareholders	$ 749	$ (756)	$ 4,285	$ 2,244
Weighted-average basic shares outstanding (in shares)	1,769	1,647	1,769	1,564
Basic earnings per share (in dollars per share)	$ 0.42	$ (0.46)	$ 2.42	$ 1.44
Diluted EPS
Net earnings (loss) attributable to AbbVie Inc.	$ 766	$ (738)	$ 4,319	$ 2,272
Earnings allocated to participating securities	17	18	34	28
Earnings (loss) available to common shareholders	$ 749	$ (756)	$ 4,285	$ 2,244
Weighted-average basic shares outstanding (in shares)	1,769	1,647	1,769	1,564
Effect of dilutive securities (in shares)	7	0	7	4
Weighted-average diluted shares outstanding (in shares)	1,776	1,647	1,776	1,568
Diluted earnings per share (in dollars per share)	$ 0.42	$ (0.46)	$ 2.41	$ 1.43

Licensing, Acquisitions, and Other Arrangements - Acquisition of Allergan (Details)
$ in Millions

6 Months Ended

Jun. 30, 2021

USD ($)

Business Acquisition

Goodwill, Purchase Accounting Adjustments

$ 564

^[1]

Allergan plc

Business Acquisition

Intangible assets measurement period adjustments

710

Deferred income tax liabilities measurement period adjustments

148

Other net measurement period adjustments

Goodwill, Purchase Accounting Adjustments

$ 564

[1]	(a) Measurement period adjustments relate to the acquisition of Allergan (see Note 4).

Licensing, Acquisitions, and Other Arrangements - Other Licensing & Acquisitions Activity (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended			6 Months Ended
	Aug. 02, 2021	Sep. 30, 2021	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Collaborative and license agreements
Cash outflows related to other acquisitions and investments					$ (345)	$ (192)
Acquired in-process research and development			$ 97	$ 853	$ 167	853
Forecast \| Soliton, Inc.
Collaborative and license agreements
Cash per share received by Allergan shareholders (in dollars per share)	$ 22.60
Total consideration	$ 550
TeneoOne and TNB-383B \| Collaborative arrangement \| Forecast \| In-process research and development
Collaborative and license agreements
Acquired in-process research and development		$ 400
TeneoOne and TNB-383B \| Collaborative arrangement \| Maximum \| Forecast
Collaborative and license agreements
Potential payments under agreement certain milestones		250
Calico Life Sciences LLC \| Collaborative arrangement \| Forecast
Collaborative and license agreements
Additional contribution from AbbVie		500
Additional contribution from Calico		$ 500
Genmab A/S \| Collaborative arrangement \| In-process research and development
Collaborative and license agreements
Acquired in-process research and development				750
Genmab A/S \| Collaborative arrangement \| Maximum
Collaborative and license agreements
Potential payments under agreement certain milestones				$ 3,200		$ 3,200

Collaborations (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Collaborations (Details) - USD ($) $ in Millions	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Collaborative and license agreements
AbbVie's receivable from Janssen	$ 9,914		$ 9,914		$ 8,822
AbbVie's payable to Janssen	20,783		20,783		20,159
Janssen Biotech Inc. \| Collaborative arrangement
Collaborative and license agreements
Milestone payments	200		$ 200
Share of collaboration development costs responsible by Janssen (as a percent)			60.00%
Share of collaboration development costs responsible by the entity (as a percent)			40.00%
Global - AbbVie's share of other costs (included in respective line items)	74	$ 67	$ 144	$ 137
AbbVie's receivable from Janssen	308		308		283
AbbVie's payable to Janssen	498		498		$ 562
Janssen Biotech Inc. \| Collaborative arrangement \| United States
Collaborative and license agreements
Collaboration counterparty's share of collaborative arrangement expenses (included in cost of products sold)	514	493	979	943
Janssen Biotech Inc. \| Collaborative arrangement \| International
Collaborative and license agreements
International - AbbVie's share of profits (included in net revenues)	282	233	551	499
Genentech, Inc. \| Collaborative arrangement
Collaborative and license agreements
Collaboration counterparty's share of collaborative arrangement expenses (included in cost of products sold)	168	123	327	251
AbbVie's share of development costs (included in R&D)	34	36	76	61
Genentech, Inc. \| Collaborative arrangement \| United States
Collaborative and license agreements
AbbVie's share of sales and marketing costs from U.S. collaboration (included in SG&A)	$ 8	$ 11	$ 19	$ 25

Goodwill and Intangible Assets - Goodwill (Details)

6 Months Ended

Jun. 30, 2021

USD ($)

Changes in the carrying amount of goodwill

Balance at the beginning of the period

$ 33,124,000,000

Goodwill measurement period adjustments

(564,000,000)

^[1]

Foreign currency translation adjustments and other

(162,000,000)

Balance at the end of the period

32,398,000,000

Accumulated goodwill impairment losses

Accumulated goodwill impairment losses

$ 0

[1]	(a) Measurement period adjustments relate to the acquisition of Allergan (see Note 4).

Goodwill and Intangible Assets - Intangible Assets, Net (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Finite-Lived Intangible Assets
Gross carrying amount	$ 96,257		$ 96,257		$ 95,535
Accumulated amortization	(18,467)		(18,467)		(14,536)
Net carrying amount	77,790		77,790		80,999
Indefinite-lived research and development	1,550		1,550		1,877
Total intangible assets gross carrying amount	97,807		97,807		97,412
Intangible assets, net	79,340		79,340		82,876
Amortization expense	2,000	$ 1,400	4,008	$ 1,850
Developed product rights
Finite-Lived Intangible Assets
Gross carrying amount	87,771		87,771		87,707
Accumulated amortization	(15,153)		(15,153)		(11,620)
Net carrying amount	72,618		72,618		76,087
License agreements
Finite-Lived Intangible Assets
Gross carrying amount	8,486		8,486		7,828
Accumulated amortization	(3,314)		(3,314)		(2,916)
Net carrying amount	$ 5,172		$ 5,172		$ 4,912

Integration and Restructuring Plans (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Allergan integration plan
Restructuring charges
Integration related costs	$ 2,000		$ 2,000
Allergan integration plan \| Severance and employee benefits
Restructuring charges
Charges associated with integration or restructuring plans	12	$ 483	35	$ 483
Restructuring reserve rollforward
Accrued balance beginning of the period			367
Restructuring charges			31
Payments and other adjustments			(159)
Accrued balance end of the period	239		239
Allergan integration plan \| Severance and employee benefits \| Cost of products sold
Restructuring charges
Charges associated with integration or restructuring plans	0	33	6	33
Allergan integration plan \| Severance and employee benefits \| Research and development
Restructuring charges
Charges associated with integration or restructuring plans	0	132	0	132
Allergan integration plan \| Severance and employee benefits \| Selling, general and administrative
Restructuring charges
Charges associated with integration or restructuring plans	12	318	29	318
Allergan integration plan \| Other integration
Restructuring charges
Charges associated with integration or restructuring plans	118	105	234	143
Restructuring reserve rollforward
Accrued balance beginning of the period			20
Restructuring charges			216
Payments and other adjustments			(222)
Accrued balance end of the period	14		14
Allergan integration plan \| Other integration \| Cost of products sold
Restructuring charges
Charges associated with integration or restructuring plans	25	1	40	1
Allergan integration plan \| Other integration \| Research and development
Restructuring charges
Charges associated with integration or restructuring plans	18	44	69	44
Allergan integration plan \| Other integration \| Selling, general and administrative
Restructuring charges
Charges associated with integration or restructuring plans	75	60	125	98
Other restructuring
Restructuring charges
Charges associated with integration or restructuring plans	5	$ 14	43	$ 31
Restructuring reserve rollforward
Accrued balance beginning of the period			90
Restructuring charges			43
Payments and other adjustments			(64)
Accrued balance end of the period	$ 69		$ 69

Financial Instruments and Fair Value Measures - Financial Instruments (Details)	6 Months Ended
	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)	Jun. 30, 2021 EUR (€)	Dec. 31, 2020 USD ($)	Dec. 31, 2020 EUR (€)	Sep. 30, 2019 USD ($)
Derivative instruments, notional amount and fair value
Amount excluded from the assessment of effectiveness for cash flow hedges	$ 0	$ 0
Amount excluded from the assessment of effectiveness for fair value hedges	0	$ 0
Fair value - Derivatives in asset position	188,000,000			$ 189,000,000
Fair value - Derivatives in liability position	100,000,000			166,000,000
Designated as hedging instrument \| Net investment hedges \| Senior notes
Derivative instruments, notional amount and fair value
Principal amount of unsecured senior notes \| €			€ 5,900,000,000		€ 6,600,000,000
Designated as hedging instrument \| Foreign currency forward exchange contracts \| Cash flow hedges
Derivative instruments, notional amount and fair value
Notional amount of derivative instruments	$ 1,700,000,000			1,500,000,000
Duration of forward exchange contracts	18 months
Approximate length of time over which accumulated gains and losses will be recognized in Cost of products sold	6 months
Designated as hedging instrument \| Foreign currency forward exchange contracts \| Cash flow hedges \| Prepaid expenses and other
Derivative instruments, notional amount and fair value
Fair value - Derivatives in asset position	$ 14,000,000			2,000,000
Designated as hedging instrument \| Foreign currency forward exchange contracts \| Cash flow hedges \| Accounts payable and accrued liabilities
Derivative instruments, notional amount and fair value
Fair value - Derivatives in liability position	22,000,000			82,000,000
Designated as hedging instrument \| Foreign currency forward exchange contracts \| Cash flow hedges \| Other assets
Derivative instruments, notional amount and fair value
Fair value - Derivatives in asset position	2,000,000			0
Designated as hedging instrument \| Foreign currency forward exchange contracts \| Cash flow hedges \| Other long-term liabilities
Derivative instruments, notional amount and fair value
Fair value - Derivatives in liability position	1,000,000			6,000,000
Designated as hedging instrument \| Foreign currency forward exchange contracts \| Net investment hedges
Derivative instruments, notional amount and fair value
Notional amount of derivative instruments \| €			€ 2,800,000,000		€ 971,000,000
Designated as hedging instrument \| Foreign currency forward exchange contracts \| Net investment hedges \| Prepaid expenses and other
Derivative instruments, notional amount and fair value
Fair value - Derivatives in asset position	64,000,000			0
Designated as hedging instrument \| Foreign currency forward exchange contracts \| Net investment hedges \| Accounts payable and accrued liabilities
Derivative instruments, notional amount and fair value
Fair value - Derivatives in liability position	0			11,000,000
Designated as hedging instrument \| Treasury rate lock agreements \| Cash flow hedges
Derivative instruments, notional amount and fair value
Notional amount of derivative instruments						$ 10,000,000,000.0
Designated as hedging instrument \| Interest rate swap contracts \| Cash flow hedges
Derivative instruments, notional amount and fair value
Notional amount of derivative instruments	1,500,000,000			2,300,000,000
Designated as hedging instrument \| Interest rate swap contracts \| Cash flow hedges \| Prepaid expenses and other
Derivative instruments, notional amount and fair value
Fair value - Derivatives in asset position	0			0
Designated as hedging instrument \| Interest rate swap contracts \| Cash flow hedges \| Accounts payable and accrued liabilities
Derivative instruments, notional amount and fair value
Fair value - Derivatives in liability position	4,000,000			14,000,000
Designated as hedging instrument \| Interest rate swap contracts \| Cash flow hedges \| Other assets
Derivative instruments, notional amount and fair value
Fair value - Derivatives in asset position	0			0
Designated as hedging instrument \| Interest rate swap contracts \| Cash flow hedges \| Other long-term liabilities
Derivative instruments, notional amount and fair value
Fair value - Derivatives in liability position	14,000,000			20,000,000
Designated as hedging instrument \| Interest rate swap contracts \| Fair value hedges
Derivative instruments, notional amount and fair value
Notional amount of derivative instruments	3,800,000,000			4,800,000,000
Designated as hedging instrument \| Interest rate swap contracts \| Fair value hedges \| Prepaid expenses and other
Derivative instruments, notional amount and fair value
Fair value - Derivatives in asset position	0			7,000,000
Designated as hedging instrument \| Interest rate swap contracts \| Fair value hedges \| Accounts payable and accrued liabilities
Derivative instruments, notional amount and fair value
Fair value - Derivatives in liability position	0			0
Designated as hedging instrument \| Interest rate swap contracts \| Fair value hedges \| Other assets
Derivative instruments, notional amount and fair value
Fair value - Derivatives in asset position	70,000,000			131,000,000
Designated as hedging instrument \| Interest rate swap contracts \| Fair value hedges \| Other long-term liabilities
Derivative instruments, notional amount and fair value
Fair value - Derivatives in liability position	0			0
Not designated as hedging instrument \| Foreign currency forward exchange contracts
Derivative instruments, notional amount and fair value
Notional amount of derivative instruments	7,800,000,000			8,600,000,000
Not designated as hedging instrument \| Foreign currency forward exchange contracts \| Prepaid expenses and other
Derivative instruments, notional amount and fair value
Fair value - Derivatives in asset position	38,000,000			49,000,000
Not designated as hedging instrument \| Foreign currency forward exchange contracts \| Accounts payable and accrued liabilities
Derivative instruments, notional amount and fair value
Fair value - Derivatives in liability position	$ 59,000,000			$ 33,000,000

Financial Instruments and Fair Value Measures - Amount Of Gain/(Loss) Recognized For Derivative Instruments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Cost of products sold
Gain (loss) on derivatives
Pre-tax gains (losses) to be transferred into cost of products sold for foreign currency cash flow hedges during the next 12 months	$ (49)		$ (49)
Interest expense, net
Gain (loss) on derivatives
Pre-tax gains (losses) to be transferred into interest expense, net for interest rate swap cash flow hedges during the next 12 months	(15)		(15)
Pre-tax gains (losses) to be transferred into interest expense, net for treasury rate lock agreement cash flow hedges during the next 12 months	24		24
Interest expense, net \| Fair value hedges
Gain (loss) on derivatives
Debt designated as hedged item in fair value hedges gain (loss) recognized in the consolidated statements of earnings	11	$ (37)	68	$ (397)
Designated as hedging instrument \| Senior notes
Gain (loss) on derivatives
Pre-tax gains (losses) from net investment hedge instruments recognized in other comprehensive income	(126)	(252)	256	(192)
Foreign currency forward exchange contracts \| Designated as hedging instrument
Gain (loss) on derivatives
Pre-tax gains (losses) from cash flow hedges recognized in other comprehensive income	(11)	(2)	24	47
Pre-tax gains (losses) from net investment hedge instruments recognized in other comprehensive income	(14)	(16)	85	24
Foreign currency forward exchange contracts \| Designated as hedging instrument \| Cost of products sold \| Cash flow hedges
Gain (loss) on derivatives
Derivative instrument net gains (losses) recognized in the consolidate statements of earnings	(22)	0	(34)	0
Foreign currency forward exchange contracts \| Designated as hedging instrument \| Interest expense, net \| Net investment hedges
Gain (loss) on derivatives
Derivative instrument net gains (losses) recognized in the consolidate statements of earnings	5	5	9	13
Foreign currency forward exchange contracts \| Not designated as hedges \| Net foreign exchange loss
Gain (loss) on derivatives
Derivative instrument net gains (losses) recognized in the consolidate statements of earnings	(3)	3	(28)	5
Treasury rate lock agreements \| Designated as hedging instrument \| Interest expense, net \| Cash flow hedges
Gain (loss) on derivatives
Derivative instrument net gains (losses) recognized in the consolidate statements of earnings	6	6	12	12
Designated as fair value hedges \| Designated as hedging instrument
Gain (loss) on derivatives
Pre-tax gains (losses) from cash flow hedges recognized in other comprehensive income	0	(6)	1	(52)
Designated as fair value hedges \| Designated as hedging instrument \| Interest expense, net \| Cash flow hedges
Gain (loss) on derivatives
Derivative instrument net gains (losses) recognized in the consolidate statements of earnings	(7)	(3)	(14)	(2)
Designated as fair value hedges \| Designated as hedging instrument \| Interest expense, net \| Fair value hedges
Gain (loss) on derivatives
Derivative instrument net gains (losses) recognized in the consolidate statements of earnings	$ (11)	$ 37	$ (68)	$ 397

Financial Instruments and Fair Value Measures - Fair Value Measures (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Assets
Foreign currency contracts	$ 188	$ 189
Liabilities
Foreign currency contracts	100	166
Quoted prices in active markets for identical assets (Level 1)
Liabilities
Total liabilities	88,383	94,386
Fair Value, Recurring
Assets
Cash and equivalents	8,546	8,449
Debt securities	71	50
Equity securities	121	159
Interest rate swap contracts	70	138
Total assets	8,936	8,859
Liabilities
Interest rate swap contracts	18	34
Contingent consideration	14,989	12,997
Total liabilities	15,089	13,163
Fair Value, Recurring \| Foreign currency contracts
Assets
Foreign currency contracts	118	51
Liabilities
Foreign currency contracts	82	132
Fair Value, Recurring \| Quoted prices in active markets for identical assets (Level 1)
Assets
Cash and equivalents	2,886	2,758
Debt securities	0	0
Equity securities	110	149
Interest rate swap contracts	0	0
Total assets	2,996	2,907
Liabilities
Interest rate swap contracts	0	0
Contingent consideration	0	0
Total liabilities	0	0
Fair Value, Recurring \| Quoted prices in active markets for identical assets (Level 1) \| Foreign currency contracts
Assets
Foreign currency contracts	0	0
Liabilities
Foreign currency contracts	0	0
Fair Value, Recurring \| Significant other observable inputs (Level 2)
Assets
Cash and equivalents	5,660	5,691
Debt securities	71	50
Equity securities	11	10
Interest rate swap contracts	70	138
Total assets	5,940	5,952
Liabilities
Interest rate swap contracts	18	34
Contingent consideration	0	0
Total liabilities	100	166
Fair Value, Recurring \| Significant other observable inputs (Level 2) \| Foreign currency contracts
Assets
Foreign currency contracts	118	51
Liabilities
Foreign currency contracts	82	132
Fair Value, Recurring \| Significant unobservable inputs (Level 3)
Assets
Cash and equivalents	0	0
Debt securities	0	0
Equity securities	0	0
Interest rate swap contracts	0	0
Total assets	0	0
Liabilities
Interest rate swap contracts	0	0
Contingent consideration	14,989	12,997
Total liabilities	14,989	12,997
Fair Value, Recurring \| Significant unobservable inputs (Level 3) \| Foreign currency contracts
Assets
Foreign currency contracts	0	0
Liabilities
Foreign currency contracts	0	0
Money market funds and time deposits \| Fair Value, Recurring
Assets
Money market funds and time deposits	10	12
Money market funds and time deposits \| Fair Value, Recurring \| Quoted prices in active markets for identical assets (Level 1)
Assets
Money market funds and time deposits	0	0
Money market funds and time deposits \| Fair Value, Recurring \| Significant other observable inputs (Level 2)
Assets
Money market funds and time deposits	10	12
Money market funds and time deposits \| Fair Value, Recurring \| Significant unobservable inputs (Level 3)
Assets
Money market funds and time deposits	$ 0	$ 0

Financial Instruments and Fair Value Measures - Significant Level 3 Unobservable Inputs (Details)

Jun. 30, 2021

Weighted average | Discount rate

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Significant unobservable input for contingent consideration

0.014

^[1]

Weighted average | Probability of payment for unachieved milestones

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Significant unobservable input for contingent consideration

0.87

^[1]

Weighted average | Probability of payment for royalties by indication

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Significant unobservable input for contingent consideration

0.95

^[1],[2]

Weighted average | Projected year of payments

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Significant unobservable input for contingent consideration

2,027

^[1]

Minimum | Discount rate

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Significant unobservable input for contingent consideration

0.001

Minimum | Probability of payment for unachieved milestones

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Significant unobservable input for contingent consideration

0.56

Minimum | Probability of payment for royalties by indication

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Significant unobservable input for contingent consideration

0.56

^[2]

Minimum | Projected year of payments

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Significant unobservable input for contingent consideration

2,021

Minimum | Probability of payment for royalties excluding early stage or approved indications

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Significant unobservable input for contingent consideration

0.56

^[2]

Maximum | Discount rate

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Significant unobservable input for contingent consideration

0.025

Maximum | Probability of payment for unachieved milestones

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Significant unobservable input for contingent consideration

0.92

Maximum | Probability of payment for royalties by indication

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Significant unobservable input for contingent consideration

^[2]

Maximum | Projected year of payments

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Significant unobservable input for contingent consideration

2,034

Maximum | Probability of payment for royalties excluding early stage or approved indications

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Significant unobservable input for contingent consideration

0.89

^[2]

[1]	(a) Unobservable inputs were weighted by the relative fair value of the contingent consideration liabilities.
[2]	(b) Excluding approved indications, the estimated probability of payment ranged from 56% to 89% at June 30, 2021.

Financial Instruments and Fair Value Measures - Transfers of Assets or Liabilities Into or Out of Level 3 of the Fair Value Hierarchy (Details) - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Transfers of assets or liabilities between the fair value measurement levels
Transfers of assets into Level 3 of the fair value hierarchy	$ 0
Transfers of assets out of Level 3 of the fair value hierarchy	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net [Abstract]
Transfers of liabilities into Level 3 of the fair value hierarchy	0
Transfers of liabilities out of Level 3 of the fair value hierarchy	0
Reconciliation of the fair value measurements that use significant unobservable inputs (Level 3)
Beginning balance	12,997,000,000	$ 7,340,000,000
Additions	0	121,000,000
Change in fair value recognized in net earnings	2,349,000,000	881,000,000
Payments	(357,000,000)	(129,000,000)
Ending balance	$ 14,989,000,000	$ 8,213,000,000

Financial Instruments and Fair Value Measures - Bases Used To Measure The Approximate Fair Values Of Financial Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Liabilities
Carrying amount of investments in equity securities that do not have readily determinable fair values	$ 118	$ 102
Quoted prices in active markets for identical assets (Level 1)
Liabilities
Current portion of long-term debt and finance lease obligations, excluding fair value hedges	7,636	8,249
Long-term debt and finance lease obligations, excluding fair value hedges	80,747	86,137
Total liabilities	88,383	94,386
Book value
Liabilities
Short-term borrowings	17	34
Current portion of long-term debt and finance lease obligations, excluding fair value hedges	7,884	8,461
Long-term debt and finance lease obligations, excluding fair value hedges	74,051	77,283
Total liabilities	81,952	85,778
Approximate fair value
Liabilities
Short-term borrowings	17	34
Current portion of long-term debt and finance lease obligations, excluding fair value hedges	7,925	8,542
Long-term debt and finance lease obligations, excluding fair value hedges	82,070	87,761
Total liabilities	90,012	96,337
Approximate fair value \| Quoted prices in active markets for identical assets (Level 1)
Liabilities
Short-term borrowings	0	0
Approximate fair value \| Significant other observable inputs (Level 2)
Liabilities
Short-term borrowings	17	34
Current portion of long-term debt and finance lease obligations, excluding fair value hedges	289	293
Long-term debt and finance lease obligations, excluding fair value hedges	1,323	1,624
Total liabilities	1,629	1,951
Approximate fair value \| Significant unobservable inputs (Level 3)
Liabilities
Short-term borrowings	0	0
Current portion of long-term debt and finance lease obligations, excluding fair value hedges	0	0
Long-term debt and finance lease obligations, excluding fair value hedges	0	0
Total liabilities	$ 0	$ 0

Financial Instruments and Fair Value Measures - Concentrations of Risk (Details) - wholesaler	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Accounts receivable, net
Concentration of Risk
Number of principal customers	3
Accounts receivable, net \| Geographic risk \| Principal US customers
Concentration of Risk
Concentrations risk (as a percent)	73.00%		72.00%
Total revenues \| HUMIRA \| Humira
Concentration of Risk
Concentrations risk (as a percent)	37.00%	50.00%

Financial Instruments and Fair Value Measures - Debt and Credit Facilities (Details) € in Millions, $ in Millions	1 Months Ended		3 Months Ended
	May 31, 2021 USD ($)	May 31, 2020 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2021 EUR (€)	Jun. 30, 2020 USD ($)	May 31, 2020 EUR (€)
2.30% senior note due 2021 \| Senior notes
Debt and Credit Facilities [Line Items]
Repayments of long-term debt			$ 1,800
Stated interest rate (as a percent)			2.30%	2.30%
0.50% senior euro note due 2021 \| Senior notes
Debt and Credit Facilities [Line Items]
Repayments of long-term debt \| €				€ 750
Stated interest rate (as a percent)			0.50%	0.50%
Senior Notes Due in May 2021 At Floating Rates \| Senior notes
Debt and Credit Facilities [Line Items]
Repayments of long-term debt	$ 750
May 2020 floating rate term loans \| Term loan facilities
Debt and Credit Facilities [Line Items]
Principal amount of debt		$ 3,000
July 2019 term loan agreement \| Term loan facilities
Debt and Credit Facilities [Line Items]
Maximum borrowing capacity of term loan credit agreement		6,000
Floating rate notes due 2023 \| Term loan facilities
Debt and Credit Facilities [Line Items]
Long-term debt obligations, gross					$ 1,000
Floating rate notes due 2025 \| Term loan facilities
Debt and Credit Facilities [Line Items]
Long-term debt obligations, gross					$ 2,000
Allergan notes exchanged \| Senior notes
Debt and Credit Facilities [Line Items]
Long-term debt obligations, gross		14,000
Allergan Euro notes exchanged \| Senior notes
Debt and Credit Facilities [Line Items]
Long-term debt obligations, gross \| €						€ 3,100
Allergan notes assumed \| Senior notes
Debt and Credit Facilities [Line Items]
Long-term debt obligations, gross		1,500
Allergan Euro notes assumed \| Senior notes
Debt and Credit Facilities [Line Items]
Long-term debt obligations, gross \| €						€ 635
2.5% Senior Notes due May 2020 \| Senior notes
Debt and Credit Facilities [Line Items]
Repayments of long-term debt		$ 3,800
Stated interest rate (as a percent)		2.50%				2.50%

Financial Instruments and Fair Value Measures - Short-Term Borrowings (Details) - USD ($)	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
Short-Term Borrowings [Line Items]
Short-term borrowings	$ 17,000,000	$ 34,000,000
Proceeds from Issuance of Commercial Paper	0
Commercial paper
Short-Term Borrowings [Line Items]
Short-term borrowings	$ 0	$ 0
Weighted-average interest rate on commercial paper (as a percent)			1.80%

Post-Employment Benefits (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Post-Employment Benefits (Details) - USD ($) $ in Millions	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Defined benefit plans
Defined benefit and other post-employment plans
Service cost	$ 109	$ 92	$ 221	$ 184
Interest cost	60	67	118	128
Expected return on plan assets	(166)	(143)	(332)	(278)
Amortization of prior service cost (credit)	0	0	1	1
Amortization of actuarial loss	75	59	145	113
Net periodic benefit cost	78	75	153	148
Other post-employment plans
Defined benefit and other post-employment plans
Service cost	12	9	24	21
Interest cost	4	8	9	17
Expected return on plan assets	0	0	0	0
Amortization of prior service cost (credit)	(9)	(1)	(19)	(2)
Amortization of actuarial loss	8	5	16	12
Net periodic benefit cost	$ 15	$ 21	$ 30	$ 48

Equity - Stock-Based Compensation (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	May 31, 2021	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award
Pre-tax compensation expense		$ 159	$ 236	$ 428	$ 455
Tax benefit		26	38	74	77
After-tax compensation expense		133	198	354	378
AbbVie Amended and Restated 2013 Incentive Stock Program
Share-based Compensation Arrangement by Share-based Payment Award
Increase in number of shares available for issuance	44,000,000
Cost of products sold
Share-based Compensation Arrangement by Share-based Payment Award
Pre-tax compensation expense		10	11	30	26
Research and development
Share-based Compensation Arrangement by Share-based Payment Award
Pre-tax compensation expense		47	54	134	146
Selling, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award
Pre-tax compensation expense		$ 102	$ 171	$ 264	$ 283

Equity - Stock Options (Details) - Stock Options $ / shares in Units, shares in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2021 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award
Stock options granted (in shares) \| shares	1.1
Weighted-average grant-date fair value of the stock options granted (in dollars per share) \| $ / shares	$ 16.28
Unrecognized compensation cost \| $	$ 15
Period for recognition of unrecognized compensation cost	2 years

Equity - RSUs and Performance Shares (Details) - RSUs and Performance Shares $ / shares in Units, shares in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2021 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award
Shares granted (in shares) \| shares	7.3
Fair market value of awards vested (in dollars per share) \| $ / shares	$ 105.29
Unrecognized compensation cost \| $	$ 849
Period for recognition of unrecognized compensation cost	2 years

Equity - Cash Dividends (Details) - $ / shares	Jun. 17, 2021	Feb. 18, 2021	Oct. 30, 2020	Sep. 11, 2020	Jun. 17, 2020	Feb. 20, 2020
Stockholders' Equity Note [Abstract]
Cash dividends declared per common share (in dollars per share)	$ 1.30	$ 1.30	$ 1.30	$ 1.18	$ 1.18	$ 1.18

Equity - Stock Repurchase Program (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Equity, Class of Treasury Stock
Payment for shares repurchased	$ 10	$ 19	$ 797	$ 662
Remaining share repurchase authorization amount	$ 2,600		$ 2,600
December 2018 Stock Repurchase Authorization
Equity, Class of Treasury Stock
Shares repurchased (in shares)			5	6
Payment for shares repurchased			$ 550	$ 500

Equity - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Beginning balance	$ 13,733	$ (7,415)	$ 13,097	$ (8,172)
Other comprehensive income	192	262	14	161
Ending balance	12,594	14,732	12,594	14,732
Foreign currency translation adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Beginning balance			583	(928)
Other comprehensive income (loss) before reclassifications			(433)	214
Net losses (gains) reclassified from accumulated other comprehensive loss			0	0
Other comprehensive income			(433)	214
Ending balance	150	(714)	150	(714)
Net investment hedging activities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Beginning balance			(790)	9
Other comprehensive income (loss) before reclassifications			267	(131)
Net losses (gains) reclassified from accumulated other comprehensive loss			(7)	(10)
Other comprehensive income			260	(141)
Ending balance	(530)	(132)	(530)	(132)
Pension and post-employment benefits
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Beginning balance			(3,067)	(2,965)
Other comprehensive income (loss) before reclassifications			16	1
Net losses (gains) reclassified from accumulated other comprehensive loss	58	50	113	98
Other comprehensive income			129	99
Ending balance	(2,938)	(2,866)	(2,938)	(2,866)
Cash flow hedging activities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Beginning balance			157	288
Other comprehensive income (loss) before reclassifications			27	(2)
Net losses (gains) reclassified from accumulated other comprehensive loss			31	(9)
Other comprehensive income			58	(11)
Ending balance	215	277	215	277
Accumulated other comprehensive income (loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Beginning balance			(3,117)	(3,596)
Other comprehensive income (loss) before reclassifications			(123)	82
Net losses (gains) reclassified from accumulated other comprehensive loss			137	79
Other comprehensive income			14	161
Ending balance	$ (3,103)	$ (3,435)	$ (3,103)	$ (3,435)

Equity - Amounts Reclassified Out Of Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2021

Jun. 30, 2020

Jun. 30, 2021

Jun. 30, 2020

Significant amounts reclassified out of each component of AOCI

Gains on derivative amount excluded from effectiveness testing

$ (606)

$ (614)

$ (1,228)

$ (1,042)

Tax expense (benefit)

394

706

134

Total reclassifications, net of tax

(766)

738

(4,319)

(2,272)

Losses (gains) on foreign currency forward exchange contracts

4,523

3,711

8,736

5,653

Pension and post-employment benefits

Significant amounts reclassified out of each component of AOCI

Amortization of actuarial losses and other

^[1]

143

125

Tax benefit

(16)

(14)

(30)

(27)

Total reclassifications, net of tax

113

Cash flow hedging activities

Significant amounts reclassified out of each component of AOCI

Total reclassifications, net of tax

(9)

Reclassification out of accumulated other comprehensive loss | Cash flow hedging activities

Significant amounts reclassified out of each component of AOCI

Tax expense (benefit)

(3)

(5)

Total reclassifications, net of tax

(3)

(9)

Reclassification out of accumulated other comprehensive loss | Net investment hedges | Net investment hedging activities

Significant amounts reclassified out of each component of AOCI

Gains on derivative amount excluded from effectiveness testing

^[2]

Tax expense (benefit)

Total reclassifications, net of tax

(4)

(7)

(10)

Foreign currency forward exchange contracts | Reclassification out of accumulated other comprehensive loss | Cash flow hedging activities

Significant amounts reclassified out of each component of AOCI

Losses (gains) on foreign currency forward exchange contracts

^[3]

Treasury rate lock agreements | Reclassification out of accumulated other comprehensive loss | Cash flow hedging activities

Significant amounts reclassified out of each component of AOCI

Gains on derivative amount excluded from effectiveness testing

^[2]

(6)

(12)

Interest rate swap contracts | Reclassification out of accumulated other comprehensive loss | Cash flow hedging activities

Significant amounts reclassified out of each component of AOCI

Gains on derivative amount excluded from effectiveness testing

^[2]

$ 7

$ 3

$ 14

$ 2

[1]	(b) Amounts are included in the computation of net periodic benefit cost (see Note 9).
[2]	(a) Amounts are included in interest expense, net (see Note 8)
[3]	(c) Amounts are included in cost of products sold (see Note 8).

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Effective tax rate	14.00%	(7.00%)	34.00%	6.00%
U.S. statutory tax rate	21.00%	21.00%	21.00%	21.00%
Potential change in unrecognized tax benefits	$ 116		$ 116

Legal Proceedings and Contingencies (Details) $ in Millions	1 Months Ended					3 Months Ended	6 Months Ended
Legal Proceedings and Contingencies (Details) $ in Millions	Sep. 30, 2020 company	Aug. 31, 2019 company	Jun. 30, 2018 USD ($)	Jun. 30, 2016 investment_fund	Sep. 30, 2014 company	May 31, 2019 company	Jun. 30, 2021 lawsuit claim	Jun. 30, 2021 class_action claim	Jun. 30, 2021 direct_purchaser claim	Jun. 30, 2021 end_payor_purchaser claim	Jun. 30, 2021 company claim	Jun. 30, 2021 claim investment_fund	Jun. 30, 2020 investment_fund
Niaspan
Legal Proceedings and Contingencies
Number of individual plaintiff lawsuits \| lawsuit							4
Number of purported class actions \| class_action								2
Number of healthcare benefit providers acting as plaintiff in lawsuit									1	1
AndroGel antitrust litigation, FTC v. AbbVie Inc.
Legal Proceedings and Contingencies
Number of generic companies with whom certain litigation related agreements were entered into					2
Number of generic companies named in claim whose court finding was reversed	1
AndroGel antitrust litigation, FTC v. AbbVie Inc. \| Disgorgement remedy
Legal Proceedings and Contingencies
Damages awarded against company \| $			$ 448
AndroGel antitrust litigation, King Drug Co. of Florence, Inc., et al. v. AbbVie Inc., et al.
Legal Proceedings and Contingencies
Number of generic companies with whom certain litigation related agreements were entered into		3
Humira antitrust litigation, In re: Humira (Adalimumab) Antitrust Litigation
Legal Proceedings and Contingencies
Number of individual putative class action lawsuits						12
Bystolic antitrust litigation
Legal Proceedings and Contingencies
Number of generic companies with whom certain litigation related agreements were entered into											6
Prescription drug abuse litigation
Legal Proceedings and Contingencies
Number of claims pending \| claim							3,100	3,100	3,100	3,100	3,100	3,100
Prescription drug abuse litigation in state courts
Legal Proceedings and Contingencies
Number of claims pending \| claim							300	300	300	300	300	300
Elliott Associates, L.P.
Legal Proceedings and Contingencies
Number of claims pending \| investment_fund													1
Number of parties to lawsuit (in investment funds) \| investment_fund				5
Number of plaintiff claims dismissed \| investment_fund												3
Generic drug pricing securities litigation in U.S. District Court of New Jersey
Legal Proceedings and Contingencies
Number of individual plaintiff lawsuits \| lawsuit							1
Number of purported class actions \| class_action								3

Segment Information - Additional Information (Details)	6 Months Ended
Segment Information - Additional Information (Details)	Jun. 30, 2021 segment
Segment Reporting [Abstract]
Number of operating segments	1

Segment Information - Disaggregation of Revenue (Details) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2021

Jun. 30, 2020

Jun. 30, 2021

Jun. 30, 2020