Company: ABBV
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001551152-25-000040
Chunk: 35

Company: AbbVie Inc.
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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,253)$53,175 License agreements8,352 (7,003)1,349 8,315 (6,624)1,691 Total definite-lived intangible assets90,502 (38,757)51,745 89,743 (34,877)54,866 Indefinite-lived intangible assets5,286 — 5,286 5,202 — 5,202 Total intangible assets, net$95,788 $(38,757)$57,031 $94,945 $(34,877)$60,068 Definite-Lived Intangible AssetsAmortization expense was $1.9 billion for the three months and $3.7 billion for the six months ended June 30, 2025 and $1.9 billion for the three months and $3.8 billion for the six months ended June 30, 2024. Amortization expense was included in cost of products sold in the condensed consolidated statements of earnings.Indefinite-Lived Intangible AssetsIndefinite-lived intangible assets represent acquired IPR&D associated with products that have not yet received regulatory approval. The company performs its annual impairment assessment of indefinite-lived intangible assets in the third quarter, or earlier if impairment indicators exist.

2025 Form 10-Q | 11

Note 7 Restructuring Plans

AbbVie continuously evaluates its operations to identify opportunities to optimize its manufacturing and R&D operations, commercial infrastructure and administrative costs and to respond to changes in its business environment. As a result, AbbVie management periodically approves individual restructuring plans to achieve these objectives. As of June 30, 2025 and 2024, no such plans were individually significant. Restructuring charges were $136 million for the three months and $153 million for the six months ended June 30, 2025 and $49 million for the three months and $64 million for the six months ended June 30, 2024. These charges are recognized in cost of products sold, R&D expense and SG&A expense in the condensed consolidated statements of earnings based on the classification of the affected employees or the related operations.The following table summarizes the cash activity in the restructuring reserve for the six months ended June 30, 2025:(in millions)Accrued balance as of December 31, 2024$236 Restructuring charges46 Payments and other adjustments(41)Accrued