Company: ABBV
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001551152-25-000029
Chunk: 30

Company: AbbVie Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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 — 43 — Foreign currency contracts87 — 87 — Total assets$5,436 $4,888 $548 $— LiabilitiesInterest rate swap contracts$135 $— $135 $— Foreign currency contracts117 — 117 — Financing liability332 — — 332 Contingent consideration22,713 — — 22,713 Total liabilities$23,297 $— $252 $23,045 

2025 Form 10-Q | 13

The following table summarizes the bases used to measure certain assets and liabilities carried at fair value on a recurring basis on the condensed consolidated balance sheet as of December 31, 2024:Basis of fair value measurement(in millions)TotalQuoted prices in active markets for identical assets (Level 1)Significant other observableinputs (Level 2)Significant unobservable inputs (Level 3)AssetsCash and equivalents$5,524 $5,179 $345 $— Money market funds and time deposits10 — 10 — Debt securities33 — 33 — Equity securities98 70 28 — Foreign currency contracts313 — 313 — Total assets$5,978 $5,249 $729 $— LiabilitiesInterest rate swap contracts$231 $— $231 $— Foreign currency contracts35 — 35 — Financing liability328 — — 328 Contingent consideration21,666 — — 21,666 Total liabilities$22,260 $— $266 $21,994 Money market funds and time deposits are valued using relevant observable market inputs including quoted prices for similar assets and interest rate curves. Equity securities primarily consist of investments for which the fair values were determined by using the published market prices per unit multiplied by the number of units held, without consideration of transaction costs. The derivatives entered into by the company were valued using observable market inputs including published interest rate curves and both forward and spot prices for foreign currencies. The financing liability is related to financing arrangements which the company elected to account for in accordance with the fair value option, as permitted under ASC 825 Financial Instruments. The fair value measurement of the financing liability was determined based on significant unobservable inputs. Potential payments are estimated by applying a