v3.22.0.1
Leases
 12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Leases Leases    
AbbVie's lease portfolio primarily consists of real estate properties, vehicles and equipment. The following table summarizes the amounts and location of operating and finance leases on the consolidated balance sheets:
as of December 31 (in millions)Balance sheet caption20212020
Assets
OperatingOther assets$762 $895 
FinanceProperty and equipment, net33 27 
Total lease assets$795 $922 
Liabilities
Operating
CurrentAccounts payable and accrued liabilities$178 $175 
NoncurrentOther long-term liabilities713 832 
Finance
CurrentCurrent portion of long-term debt and finance lease obligations9 8 
NoncurrentLong-term debt and finance lease obligations25 21 
Total lease liabilities$925 $1,036 
The following table summarizes the lease costs recognized in the consolidated statements of earnings:
years ended December 31 (in millions)202120202019
Operating lease cost$226 $192 $124 
Short-term lease cost56 59 34 
Variable lease cost71 60 62 
Total lease cost$353 $311 $220 
Sublease income and finance lease costs were insignificant in 2021, 2020 and 2019.
The following table presents the weighted-average remaining lease term and weighted-average discount rate for operating and finance leases:
years ended December 31202120202019
Weighted-average remaining lease term (years)
Operating785
Finance333
Weighted-average discount rate
Operating2.4 %2.5 %3.9 %
Finance1.1 %1.4 %3.9 %
The following table presents supplementary cash flow information regarding the company's leases:
years ended December 31 (in millions)202120202019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases$236 $185 $125 
Right-of-use assets obtained in exchange for new operating lease liabilities66 692 26 
Finance lease cash flows were insignificant in 2021, 2020 and 2019. Right-of-use assets obtained in exchange for new operating lease liabilities as of December 31, 2020 included $453 million of right-of-use assets acquired in the Allergan acquisition.
The following table summarizes the future maturities of AbbVie's operating and finance lease liabilities as of December 31, 2021:
(in millions)Operating
leases		Finance
leases
Total (a)
2022$179 $9 $188 
2023162 9 171 
2024126 7 133 
2025105 5 110 
202691 9 100 
Thereafter317 — 317 
Total lease payments980 39 1,019 
Less: Interest89 5 94 
Present value of lease liabilities$891 $34 $925 
(a)Lease payments recognized as part of lease liabilities for optional renewal periods are insignificant.
Leases Leases    
AbbVie's lease portfolio primarily consists of real estate properties, vehicles and equipment. The following table summarizes the amounts and location of operating and finance leases on the consolidated balance sheets:
as of December 31 (in millions)Balance sheet caption20212020
Assets
OperatingOther assets$762 $895 
FinanceProperty and equipment, net33 27 
Total lease assets$795 $922 
Liabilities
Operating
CurrentAccounts payable and accrued liabilities$178 $175 
NoncurrentOther long-term liabilities713 832 
Finance
CurrentCurrent portion of long-term debt and finance lease obligations9 8 
NoncurrentLong-term debt and finance lease obligations25 21 
Total lease liabilities$925 $1,036 
The following table summarizes the lease costs recognized in the consolidated statements of earnings:
years ended December 31 (in millions)202120202019
Operating lease cost$226 $192 $124 
Short-term lease cost56 59 34 
Variable lease cost71 60 62 
Total lease cost$353 $311 $220 
Sublease income and finance lease costs were insignificant in 2021, 2020 and 2019.
The following table presents the weighted-average remaining lease term and weighted-average discount rate for operating and finance leases:
years ended December 31202120202019
Weighted-average remaining lease term (years)
Operating785
Finance333
Weighted-average discount rate
Operating2.4 %2.5 %3.9 %
Finance1.1 %1.4 %3.9 %
The following table presents supplementary cash flow information regarding the company's leases:
years ended December 31 (in millions)202120202019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases$236 $185 $125 
Right-of-use assets obtained in exchange for new operating lease liabilities66 692 26 
Finance lease cash flows were insignificant in 2021, 2020 and 2019. Right-of-use assets obtained in exchange for new operating lease liabilities as of December 31, 2020 included $453 million of right-of-use assets acquired in the Allergan acquisition.
The following table summarizes the future maturities of AbbVie's operating and finance lease liabilities as of December 31, 2021:
(in millions)Operating
leases		Finance
leases
Total (a)
2022$179 $9 $188 
2023162 9 171 
2024126 7 133 
2025105 5 110 
202691 9 100 
Thereafter317 — 317 
Total lease payments980 39 1,019 
Less: Interest89 5 94 
Present value of lease liabilities$891 $34 $925 
(a)Lease payments recognized as part of lease liabilities for optional renewal periods are insignificant.