v3.24.0.1
Post-Employment Benefits (Tables)
 12 Months Ended
Dec. 31, 2023
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)2023202220232022
Projected benefit obligations
Beginning of period$8,588 $12,006 $667 $850 
Service cost270 454 37 51 
Interest cost432 297 37 23 
Employee contributions— 1 — — 
Amendments— — — (2)
Actuarial (gain) loss491 (3,668)89 (229)
Benefits paid(316)(294)(35)(25)
Other, primarily foreign currency translation adjustments79 (208)1 (1)
End of period9,544 8,588 796 667 
Fair value of plan assets
Beginning of period8,472 10,655 — — 
Actual return on plan assets1,230 (2,031)— — 
Company contributions366 357 35 25 
Employee contributions— 1 — — 
Benefits paid(316)(294)(35)(25)
Other, primarily foreign currency translation adjustments87 (216)— — 
End of period9,839 8,472 — — 
Funded status, end of period$295 $(116)$(796)$(667)
Amounts recognized on the consolidated balance sheets
Other assets$1,086 $896 $— $— 
Accounts payable and accrued liabilities(17)(14)(32)(27)
Other long-term liabilities(774)(998)(764)(640)
Net obligation$295 $(116)$(796)$(667)
Actuarial loss, net$2,290 $2,365 $282 $205 
Prior service cost (credit)1 3 (297)(333)
Accumulated other comprehensive loss (income)$2,291 $2,368 $(15)$(128)
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)20232022
Accumulated benefit obligation$1,410 $1,211 
Fair value of plan assets890 746 
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)20232022
Projected benefit obligation$6,343 $5,592 
Fair value of plan assets5,552 4,580 
Summary of pretax gains and losses included in other comprehensive income (loss)
The following table summarizes the pre-tax losses (gains) included in other comprehensive income (loss):
years ended December 31 (in millions)202320222021
Defined benefit plans
Actuarial gain$(16)$(925)$(345)
Amortization of prior service cost(1)(2)(2)
Amortization of actuarial loss(16)(231)(288)
Foreign exchange loss (gain) and other(44)17 (27)
Total gain$(77)$(1,141)$(662)
Other post-employment plans
Actuarial loss (gain)$89 $(229)$10 
Prior service credit— (2)— 
Amortization of prior service credit36 38 39 
Amortization of actuarial loss(12)(26)(32)
Total loss (gain)$113 $(219)$17 
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)202320222021
Defined benefit plans
Service cost$270 $454 $440 
Interest cost432 297 237 
Expected return on plan assets(723)(712)(663)
Amortization of prior service cost1 2 2 
Amortization of actuarial loss16 231 288 
Net periodic benefit cost (credit)$(4)$272 $304 
Other post-employment plans
Service cost$37 $51 $48 
Interest cost37 23 19 
Amortization of prior service credit(36)(38)(39)
Amortization of actuarial loss12 26 32 
Net periodic benefit cost$50 $62 $60 
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 3120232022
Defined benefit plans
Discount rate4.8 %5.0 %
Rate of compensation increases4.8 %5.5 %
Cash balance interest crediting rate4.4 %2.7 %
Other post-employment plans
Discount rate5.1 %5.3 %
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 31202320222021
Defined benefit plans
Discount rate for determining service cost5.0 %3.0 %2.6 %
Discount rate for determining interest cost4.9 %2.6 %2.2 %
Expected long-term rate of return on plan assets7.3 %7.1 %7.1 %
Expected rate of change in compensation4.8 %5.2 %4.6 %
Cash balance interest crediting rate2.7 %2.7 %2.8 %
Other post-employment plans
Discount rate for determining service cost5.3 %3.3 %3.0 %
Discount rate for determining interest cost5.1 %2.7 %2.2 %
Schedule of defined benefit pension plan assets
Defined Benefit Pension Plan Assets
Basis of fair value measurement
as of December 31 (in millions)2023Quoted 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)
$1,018 $1,018 $— $— 
U.S. mid cap(b)
173 173 — — 
International(c)
488 488 — — 
Fixed income securities
U.S. government securities(d)
246 62 184 — 
Corporate debt instruments(d)
714 155 559 — 
Non-U.S. government securities(d)
461 301 160 — 
Other(d)
126 124 2 — 
Absolute return funds(e)
155 66 89 — 
Other(f)
414 413 1 — 
Total$3,795 $2,800 $995 $— 
Total assets measured at NAV6,044 
Fair value of plan assets$9,839 
Basis of fair value measurement
as of December 31 (in millions)2022Quoted 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)
$949 $949 $— $— 
U.S. mid cap(b)
157 157 — — 
International(c)
327 327 — — 
Fixed income securities
U.S. government securities(d)
237 69 168 — 
Corporate debt instruments(d)
680 144 536 — 
Non-U.S. government securities(d)
548 402 146 — 
Other(d)
84 81 3 — 
Absolute return funds(e)
91 4 87 — 
Real assets9 9 — — 
Other(f)
278 277 1 — 
Total$3,360 $2,419 $941 $— 
Total assets measured at NAV5,112 
Fair value of plan assets$8,472 
(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
2024$339 $33 
2025364 37 
2026387 41 
2027413 44 
2028434 47 
2029 to 20332,580 292