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Quarterly Financial Data (unaudited)
 12 Months Ended
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Data (unaudited) Quarterly Financial Data (unaudited)
 
(in millions except per share data)
2019
 
2018
First Quarter
 
 
 
Net revenues
$
7,828

 
$
7,934

Gross margin
6,134

 
6,007

Net earnings(a)
2,456

 
2,783

Basic earnings per share
$
1.65

 
$
1.74

Diluted earnings per share
$
1.65

 
$
1.74

Cash dividends declared per common share
$
1.07

 
$
0.96


Second Quarter
 
 
 
Net revenues
$
8,255

 
$
8,278

Gross margin
6,436

 
6,344

Net earnings(b)
741

 
1,983

Basic earnings per share
$
0.49

 
$
1.26

Diluted earnings per share
$
0.49

 
$
1.26

Cash dividends declared per common share
$
1.07

 
$
0.96


Third Quarter
 
 
 
Net revenues
$
8,479

 
$
8,236

Gross margin
6,559

 
6,401

Net earnings(c)
1,884

 
2,747

Basic earnings per share
$
1.27

 
$
1.81

Diluted earnings per share
$
1.26

 
$
1.81

Cash dividends declared per common share
$
1.07

 
$
0.96


Fourth Quarter
 
 
 
Net revenues
$
8,704

 
$
8,305

Gross margin
6,698

 
6,283

Net earnings (loss)(d)
2,801

 
(1,826
)
Basic earnings (loss) per share
$
1.88

 
$
(1.23
)
Diluted earnings (loss) per share
$
1.88

 
$
(1.23
)
Cash dividends declared per common share
$
1.18

 
$
1.07


(a)
First quarter results in 2019 included after-tax charges of $171 million related to the change in fair value of contingent consideration liabilities and restructuring charges of $133 million. First quarter results in 2018 included an after-tax benefit of $148 million related to the change in fair value of contingent consideration liabilities partially offset by after-tax litigation reserves charges of $100 million.
(b)
Second quarter results in 2019 included an after-tax charge of $2.3 billion related to the change in fair value of contingent consideration liabilities resulting from the April 2019 regulatory approvals of SKYRIZI for the treatment of moderate to severe plaque psoriasis. Second quarter results in 2018 included after-tax charges of $500 million as a result of a collaboration agreement extension with Calico and $485 million related to the change in fair value of contingent consideration liabilities.
(c)
Third quarter results in 2019 included after-tax charges of $912 million related to intangible asset impairment and $182 million related to the change in fair value of contingent consideration liabilities. Third quarter results in 2018 included after-tax litigation reserves charges of $176 million and $95 million related to the change in fair value of contingent consideration liabilities.
(d)
Fourth quarter results in 2019 included an after-tax charge of $438 million related to the change in fair value of contingent consideration liabilities offset by after-tax income of $435 million from a legal settlement related to an intellectual property dispute with a third party and $297 million from an amended and restated license agreement between AbbVie and Reata. Fourth quarter results in 2018 included an after-tax intangible asset impairment charge of $4.5 billion partially offset by an after-tax benefit of $375 million related to the change in fair value of contingent consideration liabilities.