Company: ABBV
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0001551152-25-000020
Chunk: 314

Company: AbbVie Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 314
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 disclosure of income taxes paid, and modifies other income tax-related disclosures. The standard is effective for AbbVie starting in annual periods in 2025. AbbVie is currently assessing the impact of adopting this guidance on its consolidated financial statements. Recently Adopted Accounting PronouncementsASU No. 2023-07In November 2023, the FASB issued ASU No. 2023-07 Segment Reporting - Improving Reportable Segment Disclosures (Topic 280). The standard requires disclosures to include significant segment expenses that are regularly provided to the chief operating decision maker (CODM), a description of other segment items by reportable segment, and any additional measures of a segment's profit or loss used by the CODM when deciding how to allocate resources. The ASU also requires all annual disclosures currently required by Topic 280 to be included in interim periods. AbbVie adopted the standard in the fourth quarter of 2024. The adoption did not have a material impact on its consolidated financial statements. See Note 16 for additional information.

61     |  2024 Form 10-K

Note 3 Supplemental Financial Information 

Interest Expense, Netyears ended December 31 (in millions)202420232022Interest expense$2,808 $2,224 $2,230 Interest income(648)(540)(186)Interest expense, net$2,160 $1,684 $2,044 Accounts Payable and Accrued Liabilitiesas of December 31 (in millions)20242023Sales rebates$14,304 $13,627 Dividends payable2,936 2,783 Accounts payable2,945 3,688 Current portion of contingent consideration liabilities2,589 1,952 Salaries, wages and commissions1,986 1,802 Royalty and license arrangements527 360 Other6,658 6,438 Accounts payable and accrued liabilities$31,945 $30,650 Other Long-Term Liabilitiesas of December 31 (in millions)20242023Contingent consideration liabilities$19,077 $17,938 Liabilities for unrecognized tax benefits5,049 6,681 Income taxes payable1,261 2,182 Pension and other post-employment benefits1,234 1,538 Other3,508 3,988 Other long-term liabilities$30,129 $32,327