Company: ABBV
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001551152-25-000029
Chunk: 32

Company: AbbVie Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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 Additions(a)78 — Change in fair value recognized in net earnings1,518 660 Payments(549)(391)Ending balance$22,713 $20,159 (a) Additions during the three months ended March 31, 2025, represent contingent consideration liabilities related to the Nimble acquisition.The change in fair value recognized in net earnings is recorded in other expense, net in the condensed consolidated statements of earnings.Certain financial instruments are carried at historical cost or some basis other than fair value. The book values, approximate fair values and bases used to measure the approximate fair values of certain financial instruments as of March 31, 2025 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)LiabilitiesShort-term borrowings$1,593 $1,593 $— $1,593 $— Current portion of long-term debt and finance lease obligations, excluding fair value hedges3,767 3,765 3,748 17 — Long-term debt and finance lease obligations, excluding fair value hedges and financing liability64,350 60,904 58,486 2,418 — Total liabilities$69,710 $66,262 $62,234 $4,028 $— 

2025 Form 10-Q | 15

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