Company: ABBV
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0001551152-25-000020
Chunk: 139

Company: AbbVie Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 3
Chunk 139
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 reclassified out of each component of accumulated other comprehensive loss:years ended December 31 (in millions) (brackets denote gains)202420232022Net investment hedging activitiesGains on derivative amount excluded from effectiveness testing(a)$(123)$(112)$(94)Tax expense27 24 20 Total reclassifications, net of tax$(96)$(88)$(74)Pension and post-employment benefitsAmortization of actuarial losses (gains) and other(b)$33 $(7)$221 Tax benefit(8)— (48)Total reclassifications, net of tax$25 $(7)$173 Cash flow hedging activitiesGains on foreign currency forward exchange contracts(c)$(73)$(77)$(82)Gains on treasury rate lock agreements(a)(23)(24)(23)Losses on interest rate swap contracts(a)— — 1 Losses on cross-currency swap contracts(d)— 6 — Tax expense21 21 13 Total reclassifications, net of tax$(75)$(74)$(91)(a)Amounts are included in interest expense, net (see Note 11).(b)Amounts are included in the computation of net periodic benefit cost (see Note 12).(c)Amounts are included in cost of products sold (see Note 11).(d)Amounts are included in net foreign exchange loss (see Note 11).OtherIn addition to common stock, AbbVie's authorized capital includes 200 million shares of preferred stock, par value $0.01. As of December 31, 2024, no shares of preferred stock were issued or outstanding.

2024 Form 10-K   |  92

Note 14 Income Taxes

Earnings Before Income Tax Expenseyears ended December 31 (in millions)202420232022Domestic$(7,743)$(3,475)$(4,608)Foreign11,459 9,725 18,085 Total earnings before income tax expense$3,716 $6,250 $13,477 Income Tax Expenseyears ended December 31 (in millions)202420232022CurrentDomestic$(331)$3,272 $2,647 Foreign1,210 994 916 Total current taxes$879 $4,266 $3,563 DeferredDomestic$(1,303)$(2,324)$(1,512)Foreign