v3.20.4
Post-Employment Benefits (Tables)
 12 Months Ended
Dec. 31, 2020
Postemployment Benefits [Abstract]  
Schedule of benefit plan information
The following table summarizes benefit plan information for the global AbbVie-sponsored defined benefit and other post-employment plans:
Defined benefit plansOther post-employment plans
as of and for the years ended December 31 (in millions)2020201920202019
Projected benefit obligations
Beginning of period$8,646 $6,618 $1,050 $561 
Service cost370 269 42 25 
Interest cost264 259 34 29 
Employee contributions2 2 — — 
Amendments— — (397)— 
Actuarial loss1,105 1,703 40 451 
Benefits paid(249)(206)(17)(17)
Acquisition1,409 — 43 — 
Other, primarily foreign currency translation adjustments245 1 — 1 
End of period11,792 8,646 795 1,050 
Fair value of plan assets
Beginning of period7,116 5,637 — — 
Actual return on plan assets979 946 — — 
Company contributions367 727 17 17 
Employee contributions2 2 — — 
Benefits paid(249)(206)(17)(17)
Acquisition1,296 — — — 
Other, primarily foreign currency translation adjustments191 10 — — 
End of period9,702 7,116 — — 
Funded status, end of period$(2,090)$(1,530)$(795)$(1,050)
Amounts recognized on the consolidated balance sheets
Other assets$563 $395 $— $— 
Accounts payable and accrued liabilities(12)(8)(23)(18)
Other long-term liabilities(2,641)(1,917)(772)(1,032)
Net obligation$(2,090)$(1,530)$(795)$(1,050)
Actuarial loss, net$4,163 $3,633 $482 $469 
Prior service cost (credit)8 10 (408)(16)
Accumulated other comprehensive loss$4,171 $3,643 $74 $453 
Information For Pension Plans With An Accumulated Benefit Obligation In Excess Of Plan Assets
Information For Pension Plans With An Accumulated Benefit Obligation In Excess Of Plan Assets
as of December 31 (in millions)20202019
Accumulated benefit obligation$7,527 $5,752 
Fair value of plan assets6,066 4,820 
Information For Pension Plans With A Projected Benefit Obligation In Excess Of Plan Assets
Information For Pension Plans With A Projected Benefit Obligation In Excess Of Plan Assets
as of December 31 (in millions)20202019
Projected benefit obligation$8,719 $6,820 
Fair value of plan assets6,066 4,895 
Summary of pretax gains and losses included in other comprehensive income (loss)
The following table summarizes the pre-tax losses (gains) included in other comprehensive income (loss):
years ended December 31 (in millions)202020192018
Defined benefit plans
Actuarial loss$701 $1,231 $209 
Amortization of prior service cost(2)— — 
Amortization of actuarial loss(227)(109)(140)
Foreign exchange loss (gain) and other56 (6)(13)
Total loss$528 $1,116 $56 
Other post-employment plans
Actuarial loss (gain)$40 $451 $(287)
Prior service cost (credit)(397)— — 
Amortization of prior service credit4 — — 
Amortization of actuarial loss(26)(1)(1)
Total loss (gain)$(379)$450 $(288)
Summary of net periodic benefit cost relating to the company's defined benefit and other post-employment plans
Net Periodic Benefit Cost
years ended December 31 (in millions)202020192018
Defined benefit plans
Service cost$370 $269 $285 
Interest cost264 259 227 
Expected return on plan assets(575)(474)(439)
Amortization of prior service cost2 — — 
Amortization of actuarial loss227 109 140 
Net periodic benefit cost$288 $163 $213 
Other post-employment plans
Service cost$42 $25 $26 
Interest cost34 29 25 
Amortization of prior service credit(4)— — 
Amortization of actuarial loss26 1 1 
Net periodic benefit cost$98 $55 $52 
Schedule of weighted-average assumptions used in determining benefit obligations at the measurement date
Weighted-Average Assumptions Used in Determining Benefit Obligations at the Measurement Date
as of December 3120202019
Defined benefit plans
Discount rate2.4 %3.0 %
Rate of compensation increases4.6 %4.6 %
Cash balance interest crediting rate2.8 %2.8 %
Other post-employment plans
Discount rate2.8 %3.6 %
Schedule of weighted-average assumptions used in determining net periodic benefit cost
Weighted-Average Assumptions Used in Determining Net Periodic Benefit Cost
years ended December 31202020192018
Defined benefit plans
Discount rate for determining service cost3.1 %4.0 %3.4 %
Discount rate for determining interest cost3.0 %4.0 %3.1 %
Expected long-term rate of return on plan assets7.1 %7.6 %7.7 %
Expected rate of change in compensation4.6 %4.6 %4.4 %
Cash balance interest crediting rate2.8 %2.8 %2.8 %
Other post-employment plans
Discount rate for determining service cost3.7 %4.7 %4.0 %
Discount rate for determining interest cost3.2 %4.3 %3.7 %
Schedule of defined benefit pension plan assets
Defined Benefit Pension Plan Assets
Basis of fair value measurement
as of December 31 (in millions)2020Quoted prices in active markets for identical assets
(Level 1)		Significant other observable inputs
(Level 2)		Significant unobservable inputs
(Level 3)
Equities
U.S. large cap(a)
$1,143 $1,143 $— $— 
U.S. mid cap(b)
164 164 — — 
International(c)
524 524 — — 
Fixed income securities
U.S. government securities(d)
132 18 114 — 
Corporate debt instruments(d)
854 178 676 — 
Non-U.S. government securities(d)
544 397 147 — 
Other(d)
297 294 3 — 
Absolute return funds(e)
310 4 306 — 
Real assets10 10 — — 
Other(f)
252 250 2 — 
Total$4,230 $2,982 $1,248 $— 
Total assets measured at NAV5,472 
Fair value of plan assets$9,702 

Basis of fair value measurement
as of December 31 (in millions)2019Quoted prices in active markets for identical assets
(Level 1)		Significant other observable inputs
(Level 2)		Significant unobservable inputs
(Level 3)
Equities
U.S. large cap(a)
$884 $884 $— $— 
U.S. mid cap(b)
138 138 — — 
International(c)
349 349 — — 
Fixed income securities
U.S. government securities(d)
149 21 128 — 
Corporate debt instruments(d)
372 112 260 — 
Non-U.S. government securities(d)
202 84 118 — 
Other(d)
320 318 2 — 
Absolute return funds(e)
296 4 292 — 
Real assets9 9 — — 
Other(f)
132 132 — — 
Total$2,851 $2,051 $800 $— 
Total assets measured at NAV4,265 
Fair value of plan assets$7,116 
(a)A mix of index funds and actively managed equity accounts that are benchmarked to various large cap indices.
(b)A mix of index funds and actively managed equity accounts that are benchmarked to various mid cap indices.
(c)A mix of index funds and actively managed equity accounts that are benchmarked to various non-U.S. equity indices in both developed and emerging markets.
(d)Securities held by actively managed accounts, index funds and mutual funds.
(e)Primarily funds having global mandates with the flexibility to allocate capital broadly across a wide range of asset classes and strategies, including but not limited to equities, fixed income, commodities, financial futures, currencies and other securities, with objectives to outperform agreed upon benchmarks of specific return and volatility targets.
(f)Investments in cash and cash equivalents.
Schedule of expected benefit payments
Expected Benefit Payments
The following table summarizes total benefit payments expected to be paid to plan participants including payments funded from both plan and company assets:
years ending December 31 (in millions)Defined
benefit plans		Other
post-employment plans
2021$284 $23 
2022301 29 
2023319 31 
2024339 33 
2025362 36 
2026 to 20302,169 217