Company: ABBV
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001551152-25-000049
Chunk: 48

Company: AbbVie Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 48
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billion 364-day bridge credit agreement and $5.0 billion 364-day term loan credit agreement. In February 2024, AbbVie borrowed and repaid $5.0 billion under the term loan credit agreement. Interest charged on this borrowing was based on SOFR +0.975% with an effective interest rate of 6.29%. Subsequent to the $15.0 billion issuance of senior notes, AbbVie terminated both the bridge and term loan credit agreements in the first quarter of 2024. In February 2024, concurrent with the ImmunoGen acquisition, the company assumed and repaid an ImmunoGen senior secured term loan at a fair value of $99 million.

2025 Form 10-Q | 18

Note 9 Post-Employment BenefitsThe following table summarizes net periodic benefit cost relating to the company’s defined benefit and other post-employment plans:Defined benefit plansOther post- employment plansThree months endedSeptember 30,Nine months endedSeptember 30,Three months endedSeptember 30,Nine months endedSeptember 30,(in millions)20252024202520242025202420252024Service cost$66 $71 $197 $214 $10 $11 $30 $32 Interest cost122 113 363 339 11 10 33 31 Expected return on plan assets(209)(196)(623)(589)— — — — Amortization of prior service credit— — — — (9)(9)(27)(27)Amortization of actuarial loss8 13 24 39 3 4 7 13 Net periodic benefit cost (credit)$(13)$1 $(39)$3 $15 $16 $43 $49 

The components of net periodic benefit cost other than service cost are included in other expense, net in the condensed consolidated statements of earnings.

Note 10 EquityStock-Based Compensation

Stock-based compensation expense is principally related to awards issued pursuant to the AbbVie 2013 Incentive Stock Program and the AbbVie Amended and Restated 2013 Incentive Stock Program and is summarized as follows:Three months endedSeptember 30,Nine months endedSeptember 30,(in millions)2025202420252024Cost of products sold$10 $12 $43 $44