v3.25.0.1
Post-Employment Benefits (Tables)
 12 Months Ended
Dec. 31, 2024
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)2024202320242023
Projected benefit obligations
Beginning of period$9,544 $8,588 $796 $667 
Service cost286 270 43 37 
Interest cost451 432 41 37 
Actuarial (gain) loss(855)491 (62)89 
Benefits paid(347)(316)(31)(35)
Other, primarily foreign currency translation adjustments(115)79 (1)1 
End of period8,964 9,544 786 796 
Fair value of plan assets
Beginning of period9,839 8,472 — — 
Actual return on plan assets865 1,230 — — 
Company contributions326 366 31 35 
Benefits paid(347)(316)(31)(35)
Other, primarily foreign currency translation adjustments(132)87 — — 
End of period10,551 9,839 — — 
Funded status, end of period$1,587 $295 $(786)$(796)
Amounts recognized on the consolidated balance sheets
Other assets$2,097 $1,086 $— $— 
Accounts payable and accrued liabilities(20)(17)(42)(32)
Other long-term liabilities(490)(774)(744)(764)
Net asset (obligation)$1,587 $295 $(786)$(796)
Actuarial loss, net$1,303 $2,290 $203 $282 
Prior service cost (credit)1 1 (261)(297)
Accumulated other comprehensive loss (income)$1,304 $2,291 $(58)$(15)
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)20242023
Accumulated benefit obligation$527 $1,410 
Fair value of plan assets94 890 
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)20242023
Projected benefit obligation$775 $6,343 
Fair value of plan assets265 5,552 
Summary of pretax gains and losses included in other comprehensive income (loss)
The following table summarizes the pre-tax losses (gains) included in other comprehensive income (loss):
years ended December 31 (in millions)202420232022
Defined benefit plans
Actuarial gain$(935)$(16)$(925)
Amortization of prior service cost— (1)(2)
Amortization of actuarial loss(52)(16)(231)
Foreign exchange loss (gain) and other— (44)17 
Total gain$(987)$(77)$(1,141)
Other post-employment plans
Actuarial loss (gain)$(62)$89 $(229)
Prior service credit— — (2)
Amortization of prior service credit36 36 38 
Amortization of actuarial loss(17)(12)(26)
Total loss (gain)$(43)$113 $(219)
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)202420232022
Defined benefit plans
Service cost$286 $270 $454 
Interest cost451 432 297 
Expected return on plan assets(785)(723)(712)
Amortization of prior service cost— 1 2 
Amortization of actuarial loss52 16 231 
Net periodic benefit cost (credit)$4 $(4)$272 
Other post-employment plans
Service cost$43 $37 $51 
Interest cost41 37 23 
Amortization of prior service credit(36)(36)(38)
Amortization of actuarial loss17 12 26 
Net periodic benefit cost$65 $50 $62 
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 3120242023
Defined benefit plans
Discount rate5.4 %4.8 %
Rate of compensation increases4.4 %4.8 %
Cash balance interest crediting rate4.0 %4.4 %
Other post-employment plans
Discount rate5.7 %5.1 %
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 31202420232022
Defined benefit plans
Discount rate for determining service cost4.8 %5.0 %3.0 %
Discount rate for determining interest cost4.8 %4.9 %2.6 %
Expected long-term rate of return on plan assets7.5 %7.3 %7.1 %
Expected rate of change in compensation4.4 %4.8 %5.2 %
Cash balance interest crediting rate4.4 %2.7 %2.7 %
Other post-employment plans
Discount rate for determining service cost5.2 %5.3 %3.3 %
Discount rate for determining interest cost4.9 %5.1 %2.7 %
Schedule of defined benefit pension plan assets
Defined Benefit Pension Plan Assets
Basis of fair value measurement
as of December 31 (in millions)2024Quoted 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)
$1,131 $1,131 $— $— 
U.S. mid cap(b)
176 176 — — 
International(c)
408 408 — — 
Fixed income securities
U.S. government securities(d)
414 18 396 — 
Corporate debt instruments(d)
609 29 580 — 
Non-U.S. government securities(d)
346 183 163 — 
Other(d)
20 15 5 — 
Absolute return funds(e)
176 82 94 — 
Other(f)
351 350 1 — 
Total$3,631 $2,392 $1,239 $— 
Total assets measured at NAV6,920 
Fair value of plan assets$10,551 
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 
(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
2025$363 $42 
2026383 46 
2027410 49 
2028435 53 
2029464 57 
2030 to 20343,007 330