Company: ABBV
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0001551152-25-000020
Chunk: 355

Company: AbbVie Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 355
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)(1,008)484 824 80 380 Balance as of December 31, 2024$(2,114)$549 $(664)$304 $(1,925)Other comprehensive income (loss) for 2024 included pension and post-employment benefit plan gains of $824 million primarily due to actuarial gains driven by higher discount rates. Other comprehensive income (loss) for 2024 also included foreign currency translation adjustments totaling losses of $1.0 billion principally due to the impact of the weakening of the Euro on the translation of the company's Euro-denominated assets and the offsetting impact of net investment hedging activities totaling gains of $484 million. Other comprehensive income (loss) for 2023 included foreign currency translation adjustments totaling gains of $407 million 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 losses of $399 million. Other comprehensive income for 2022 included pension and post-employment benefit plan gains of $1.1 billion primarily due to actuarial gains driven by higher discount rates partially offset by losses on plan assets. Other comprehensive income (loss) for 2022 also included foreign currency translation adjustments totaling losses of $943 million principally due to the impact of the weakening of the Euro on the translation of the company's Euro-denominated assets and the offsetting impact of net investment hedging activities totaling gains of $555 million.

91     |  2024 Form 10-K

The table below presents the impact on AbbVie's consolidated statements of earnings for significant amounts reclassified out of each component of accumulated other comprehensive loss:years ended December 31 (in millions) (brackets denote gains)202420232022Net investment hedging activitiesGains on derivative amount excluded from effectiveness testing(a)$(123)$(112)$(94)Tax expense27 24 20 Total reclassifications, net of tax$(96)$(88)$(74)Pension and post-employment benefitsAmortization of actuarial losses (gains) and other(b)$33 $(7)$221 Tax benefit(8)— (48)Total reclassifications, net of tax$25 $(7)$173 Cash flow hedging activitiesGains on foreign currency forward exchange contracts(c)$(73)$(77)$(82)Gains on treasury rate lock agreements(a)(23)(24)(