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


	Three months ended September 30,				Nine months ended September 30,
(in millions)	2025		2024		2025		2024
Cost of products sold	$	10	$	12	$	43	$	44
Research and development	76		67		315		274
Selling, general and administrative	123		102		440		429
Pre-tax compensation expense	209		181		798		747
Tax benefit	(35)		(33)		(139)		(127)
After-tax compensation expense	$	174	$	148	$	659	$	620

In addition to stock-based compensation expense included in the table above and in connection with the 2025 acquisition of Capstan and the 2024 acquisitions of ImmunoGen and Cerevel Therapeutics, AbbVie incurred cash-settled, post-closing expense for employee incentive awards related to these transactions, which is summarized in the table below:


	Three months ended September 30,				Nine months ended September 30,
(in millions)	2025		2024		2025		2024
Cost of products sold	$	—	$	5	$	—	$	36
Research and development	28		58		28		184
Selling, general and administrative	67		98		67		290


Total post-closing cash settled expense	$	95	$	161	$	95	$	510

During the nine months ended September 30, 2025, primarily in connection with the company's annual grant, AbbVie granted 0.6 million stock options with a weighted-average grant-date fair value of $38.39. As of September 30, 2025, $9 million of unrecognized compensation cost related to stock options is expected to be recognized as expense over approximately the next two years.

During the nine months ended September 30, 2025, primarily in connection with the company's annual grant, AbbVie granted 4.9 million RSUs and performance shares with a weighted-average grant-date fair value of $193.72. As of September 30, 2025, $767 million of unrecognized compensation cost related to RSUs and performance shares is expected to be recognized as expense over approximately the next two years.

The following table summarizes quarterly cash dividends declared during 2025 and 2024:


2025				2024
Date Declared	Payment Date	Dividend Per Share		Date Declared	Payment Date	Dividend Per Share
10/31/25	02/17/26	$	1.73	10/30/24	02/14/25	$	1.64
09/05/25	11/14/25	$	1.64	09/06/24	11/15/24	$	1.55
06/20/25	08/15/25	$	1.64	06/21/24	08/15/24	$	1.55
02/13/25	05/15/25	$	1.64	02/15/24	05/15/24	$	1.55

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.

On February 16, 2023, AbbVie’s board of directors authorized a $5.0 billion increase to the existing stock repurchase authorization. AbbVie repurchased 3 million shares for $606 million during the nine months ended September 30, 2025 and 5 million shares for $959 million during the nine months ended September 30, 2024. AbbVie's remaining stock repurchase authorization was approximately $2.9 billion as of September 30, 2025.

The following table summarizes the changes in each component of accumulated other comprehensive loss, net of tax, for the nine months ended September 30, 2025:


(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, 2024	$	(2,114)	$	549	$	(664)	$	304	$	(1,925)
Other comprehensive income (loss) before reclassifications	1,489		(885)		3		(105)		502
Net losses (gains) reclassified from accumulated other comprehensive loss	—		(85)		2		(68)		(151)
Net current-period other comprehensive income (loss)	1,489		(970)		5		(173)		351
Balance as of September 30, 2025	$	(625)	$	(421)	$	(659)	$	131	$	(1,574)

Other comprehensive income for the nine months ended September 30, 2025 included foreign currency translation adjustments totaling a gain of $1.5 billion principally due to the impact of the strengthening of the Euro on the translation of the company’s Euro-denominated assets and the offsetting impact of net investment hedging activities totaling a loss of $970 million.

The following table summarizes the changes in each component of accumulated other comprehensive loss, net of tax, for the nine months ended September 30, 2024:


(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, 2023	$	(1,106)	$	65	$	(1,488)	$	224	$	(2,305)
Other comprehensive income (loss) before reclassifications	21		31		(4)		20		68
Net losses (gains) reclassified from accumulated other comprehensive loss	—		(70)		19		(46)		(97)
Net current-period other comprehensive income (loss)	21		(39)		15		(26)		(29)
Balance as of September 30, 2024	$	(1,085)	$	26	$	(1,473)	$	198	$	(2,334)

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 September 30,				Nine months ended September 30,
(in millions) (brackets denote gains)	2025		2024		2025		2024
Net investment hedging activities
Gains on derivative amount excluded from effectiveness testing(a)	$	(37)	$	(32)	$	(108)	$	(90)
Tax expense	8		7		23		20
Total reclassifications, net of tax	$	(29)	$	(25)	$	(85)	$	(70)
Pension and post-employment benefits
Amortization of actuarial losses and other(b)	$	2	$	8	$	4	$	25
Tax benefit	(1)		(2)		(2)		(6)
Total reclassifications, net of tax	$	1	$	6	$	2	$	19
Cash flow hedging activities
Gains on foreign currency forward exchange contracts(c)	$	(41)	$	(19)	$	(69)	$	(41)
Other(a)	(5)		(6)		(15)		(18)


Tax expense	8		5		16		13
Total reclassifications, net of tax	$	(38)	$	(20)	$	(68)	$	(46)