Company: ABBV
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001551152-25-000040
Chunk: 42

Company: AbbVie Inc.
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 42
---
$— 

2025 Form 10-Q | 16

The book values, approximate fair values and bases used to measure the approximate fair values of certain financial instruments as of December 31, 2024 are shown in the table below:Basis of fair value measurement(in millions)Book valueApproximate fair valueQuoted prices in active markets for identical assets (Level 1)Significant other observable inputs (Level 2)Significant unobservable inputs (Level 3)LiabilitiesCurrent portion of long-term debt and finance lease obligations, excluding fair value hedges$6,797 $6,767 $6,620 $147 $— Long-term debt and finance lease obligations, excluding fair value hedges and financing liability60,243 55,836 53,441 2,395 — Total liabilities$67,040 $62,603 $60,061 $2,542 $— AbbVie also holds investments in equity securities that do not have readily determinable fair values. The company records these investments at cost and remeasures them to fair value based on certain observable price changes or impairment events as they occur. The carrying amount of these investments was $166 million as of June 30, 2025 and $169 million as of December 31, 2024. No significant cumulative upward or downward adjustments have been recorded for these investments as of June 30, 2025.Concentrations of RiskOf total net accounts receivable, three U.S. wholesalers accounted for 80% as of June 30, 2025 and 81% as of December 31, 2024, and substantially all of AbbVie’s pharmaceutical product net revenues in the United States were to these three wholesalers.Debt and Credit FacilitiesIssuance and Repayment of Long-Term DebtIn February 2025, the company issued $4.0 billion aggregate principal amount of unsecured senior notes. The following table summarizes the issued debt:(in millions)Senior Notes4.65% Senior Notes due 2028$1,250 4.875% Senior Notes due 20301,000 5.20% Senior Notes due 20351,000 5.60% Senior Notes due 2055750 Total debt issued$4,000 The notes are unsecured, unsubordinated obligations of AbbVie and will rank equally in right of payment with all of