Company: ABBV
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0001551152-25-000020
Chunk: 251

Company: AbbVie Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 3
Chunk 251
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5.Weighted-Average Assumptions Used in Determining Net Periodic Benefit Costyears ended December 31202420232022Defined benefit plansDiscount rate for determining service cost4.8 %5.0 %3.0 %Discount rate for determining interest cost4.8 %4.9 %2.6 %Expected long-term rate of return on plan assets7.5 %7.3 %7.1 %Expected rate of change in compensation4.4 %4.8 %5.2 %Cash balance interest crediting rate4.4 %2.7 %2.7 %Other post-employment plansDiscount rate for determining service cost5.2 %5.3 %3.3 %Discount rate for determining interest cost4.9 %5.1 %2.7 %For the December 31, 2024 post-retirement health care obligations remeasurement, the company assumed a 6.6% pre-65 (2.0% post-65) annual rate of increase in the per capita cost of covered health care benefits. The pre-65 rate was assumed to decrease gradually to 4.5% (1.8% post-65) in 2033 and remain at that level thereafter. For purposes of measuring the 2024 post-retirement health care costs, the company assumed a 7.4% pre-65 (2.1% post-65) annual rate of increase in the per capita cost of covered health care benefits. The pre-65 rate was assumed to decrease gradually to 4.5% (1.8% post-65) for 2032 and remain at that level thereafter.

2024 Form 10-K   |  86

Defined Benefit Pension Plan AssetsBasis of fair value measurementas of December 31 (in millions)2024Quoted prices in active markets for identical assets (Level 1)Significant other observable inputs (Level 2)Significant unobservable inputs (Level 3)EquitiesU.S. large cap(a)$1,131 $1,131 $— $— U.S. mid cap(b)176 176 — — International(c)408 408 — — Fixed income securitiesU.S. government securities(d)414 18 396 — Corporate debt instruments(d)609 29 580 — Non