Company: ABBV
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0001551152-25-000020
Chunk: 349

Company: AbbVie Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 349
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 — — International(c)488 488 — — Fixed income securitiesU.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.

87     |  2024 Form 10-K

Equities and registered investment companies having quoted prices are valued at the published market prices. Fixed income securities that are valued using significant other observable inputs are quoted at prices obtained from independent financial service industry-recognized vendors. Investments held in pooled investment funds, common collective trusts or limited partnerships are valued at the net asset value (NAV) practical expedient to estimate fair value. The NAV is provided by the fund administrator and is based on the value of the underlying assets owned by the fund minus its liabilities.The investment mix of equity securities, fixed income and other asset allocation strategies is based upon achieving a desired return, balancing higher return, more volatile equity securities and lower return, less volatile fixed income securities. Investment allocations are established for each plan and are generally made across a range of markets, industry sectors, capitalization sizes and in the case of fixed income securities, maturities and credit quality. The 2024 target investment allocation for the AbbVie Pension Plan was 62.5% in equity securities, 22.