Company: ABBV
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0001551152-25-000020
Chunk: 203

Company: AbbVie Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 3
Chunk 203
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 the Consolidated Financial Statements for additional information regarding the senior Euro notes and Note 11 to the Consolidated Financial Statements for additional information regarding the net investment hedging program. 

Interest Rate Risk

The company estimates that an increase in interest rates of 100 basis points would adversely impact the fair value of AbbVie's interest rate swap contracts by approximately $140 million at December 31, 2024. If realized, the fair value reduction would affect earnings over the remaining life of the contracts. The company estimates that an increase of 100 basis points in long-term interest rates would decrease the fair value of long-term debt by $4.6 billion at December 31, 2024. A 100 basis point change is believed to be a reasonably possible near-term change in interest rates. 

49     |  2024 Form 10-K

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

 PageConsolidated Financial Statements Consolidated Statements of Earnings51Consolidated Statements of Comprehensive Income52Consolidated Balance Sheets53Consolidated Statements of Equity54Consolidated Statements of Cash Flows55

Notes to Consolidated Financial Statements

Note 1Background56Note 2Summary of Significant Accounting Policies56Note 3Supplemental Financial Information62Note 4Earnings Per Share63Note 5Licensing, Acquisitions and Other Arrangements63Note 6Collaborations68Note 7Goodwill and Intangible Assets69Note 8Restructuring Plans71Note 9Leases73Note 10Debt, Credit Facilities and Commitments and Contingencies75Note 11Financial Instruments and Fair Value Measures77Note 12Post-Employment Benefits84Note 13Equity88Note 14Income Taxes93Note 15Legal Proceedings and Contingencies95Note 16Segment and Geographic Area Information97Note 17Fourth Quarter Financial Results (unaudited)100

Report of Independent Registered Public Accounting Firm (PCAOB ID: 42)101

2024 Form 10-K   |  50

AbbVie Inc. and Subsidiaries

Consolidated Statements of Earnings

years ended December 31 (in millions, except per share data)202420232022Net revenues$56,334 $54,318 $58,054 Cost of products sold16,904 20,415 17,414 Selling, general and administrative14,752 12,