Company: ABBV
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001551152-25-000049
Chunk: 37

Company: AbbVie Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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 included in AbbVie’s cost of products sold.

The following table shows the profit and cost sharing relationship between Genentech and AbbVie:Three months endedSeptember 30,Nine months endedSeptember 30,(in millions)2025202420252024Genentech's share of profits, including royalties (included in cost of products sold)$286 $263 $790 $733 AbbVie's share of sales and marketing costs from U.S. collaboration (included in SG&A)13 10 26 25 AbbVie's share of development costs (included in R&D)15 21 47 63     

2025 Form 10-Q | 10

Note 6 Goodwill and Intangible AssetsGoodwill

The following table summarizes the changes in the carrying amount of goodwill:(in millions)Balance as of December 31, 2024$34,956 Additions(a)170 Foreign currency translation adjustments500 Balance as of September 30, 2025$35,626 (a) Goodwill additions related to the acquisition of Nimble (see Note 4).The company performs its annual goodwill impairment assessment in the third quarter, or earlier if impairment indicators exist. As of September 30, 2025, there were no accumulated goodwill impairment losses.Intangible Assets, NetThe following table summarizes intangible assets:September 30, 2025December 31, 2024(in millions)Gross carrying amountAccumulated amortizationNet carrying amountGross carrying amountAccumulated amortizationNet carrying amountDefinite-lived intangible assetsDeveloped product rights$81,126 $(33,252)$47,874 $81,428 $(28,253)$53,175 License agreements8,353 (7,193)1,160 8,315 (6,624)1,691 Total definite-lived intangible assets89,479 (40,445)49,034 89,743 (34,877)54,866 Indefinite-lived intangible assets5,281 — 5,281 5,202 — 5,202 Total intangible assets, net$94,760 $(40,445)$54,315 $94,945 $(34,877)$60,068 Definite-Lived Intangible AssetsAmortization expense was $1.9 billion for the three months and $5.