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Financial Instruments and Fair Value Measures (Tables)
 6 Months Ended
Jun. 30, 2022
Fair Value Disclosures [Abstract]  
Summary of amounts and location of derivatives on the condensed consolidated balance sheets The following table summarizes the amounts and location of AbbVie’s derivative instruments on the condensed consolidated balance sheets:
Fair value –
Derivatives in asset position		Fair value –
Derivatives in liability position
(in millions)Balance sheet captionJune 30, 2022December 31, 2021Balance sheet captionJune 30, 2022December 31, 2021
Foreign currency forward exchange contracts
Designated as cash flow hedgesPrepaid expenses and other$47 $51 Accounts payable and accrued liabilities$5 $2 
Designated as cash flow hedgesOther assets4 — Other long-term liabilities— — 
Designated as net investment hedgesPrepaid expenses and other32 149 Accounts payable and accrued liabilities— — 
Designated as net investment hedgesOther assets129 15 Other long-term liabilities— — 
Not designated as hedgesPrepaid expenses and other22 26 Accounts payable and accrued liabilities41 13 
Interest rate swap contracts
Designated as cash flow hedgesPrepaid expenses and other2 — Accounts payable and accrued liabilities— 7 
Designated as fair value hedgesPrepaid expenses and other— — Accounts payable and accrued liabilities16 — 
Designated as fair value hedgesOther assets— 26 Other long-term liabilities256 15 
Total derivatives$236 $267 $318 $37 
Schedule of pre-tax amounts of derivatives designated as cash flow hedges recognized in other comprehensive income (loss) The following table presents the pre-tax amounts of gains (losses) from derivative instruments recognized in other comprehensive income (loss):
Three months ended
June 30,		Six months ended
June 30,
(in millions)2022202120222021
Foreign currency forward exchange contracts
Designated as cash flow hedges$53 $(11)$47 $24 
Designated as net investment hedges304 (14)386 85 
Interest rate swap contracts designated as cash flow hedges2 — 6 1 
Schedule of pre-tax amounts of derivatives designated as net investment hedges recognized in other comprehensive income (loss) The following table presents the pre-tax amounts of gains (losses) from derivative instruments recognized in other comprehensive income (loss):
Three months ended
June 30,		Six months ended
June 30,
(in millions)2022202120222021
Foreign currency forward exchange contracts
Designated as cash flow hedges$53 $(11)$47 $24 
Designated as net investment hedges304 (14)386 85 
Interest rate swap contracts designated as cash flow hedges2 — 6 1 
Summary of pre-tax amounts and location of derivatives recognized in the condensed consolidated statements of earnings The following table summarizes the pre-tax amounts and location of derivative instrument net gains (losses) recognized in the condensed consolidated statements of earnings, including the net gains (losses) reclassified out of AOCI into net earnings. See Note 10 for the amount of net gains (losses) reclassified out of AOCI.
Three months ended
June 30,		Six months ended
June 30,
(in millions)Statement of earnings caption2022202120222021
Foreign currency forward exchange contracts
Designated as cash flow hedgesCost of products sold$18 $(22)$26 $(34)
Designated as net investment hedgesInterest expense, net24 5 38 9 
Not designated as hedgesNet foreign exchange loss(123)(3)(164)(28)
Treasury rate lock agreements designated as cash flow hedgesInterest expense, net6 6 12 12 
Interest rate swap contracts
Designated as cash flow hedgesInterest expense, net(1)(7)(3)(14)
Designated as fair value hedgesInterest expense, net(99)(11)(283)(68)
Debt designated as hedged item in fair value hedgesInterest expense, net99 11 283 68 
Summary of bases used to measure assets and liabilities carried at fair value on a recurring basis The following table summarizes the bases used to measure certain assets and liabilities carried at fair value on a recurring basis on the condensed consolidated balance sheet as of June 30, 2022:
Basis of fair value measurement
(in millions)TotalQuoted prices in active markets for identical assets
(Level 1)		Significant other observable
inputs
(Level 2)		Significant unobservable inputs
(Level 3)
Assets
Cash and equivalents$8,521 $4,212 $4,309 $— 
Money market funds and time deposits1,425 — 1,425 — 
Debt securities37 — 37 — 
Equity securities74 54 20 — 
Interest rate swap contracts2 — 2 — 
Foreign currency contracts234 — 234 — 
Total assets$10,293 $4,266 $6,027 $— 
Liabilities
Interest rate swap contracts$272 $— $272 $— 
Foreign currency contracts46 — 46 — 
Contingent consideration15,178 — — 15,178 
Total liabilities$15,496 $— $318 $15,178 
The following table summarizes the bases used to measure certain assets and liabilities carried at fair value on a recurring basis on the condensed consolidated balance sheet as of December 31, 2021:
Basis of fair value measurement
(in millions)TotalQuoted prices in active markets for identical assets
(Level 1)		Significant other observable
inputs
(Level 2)		Significant unobservable inputs
(Level 3)
Assets
Cash and equivalents$9,746 $4,451 $5,295 $— 
Money market funds and time deposits45 — 45 — 
Debt securities46 — 46 — 
Equity securities121 100 21 — 
Interest rate swap contracts26 — 26 — 
Foreign currency contracts241 — 241 — 
Total assets$10,225 $4,551 $5,674 $— 
Liabilities
Interest rate swap contracts$22 $— $22 $— 
Foreign currency contracts15 — 15 — 
Contingent consideration14,887 — — 14,887 
Total liabilities$14,924 $— $37 $14,887 
Summary of significant level 3 unobservable inputs
The fair value of the company's contingent consideration liabilities was calculated using the following significant unobservable inputs:
June 30, 2022December 31, 2021
(in millions)Range
Weighted average(a)
Range
Weighted average(a)
Discount rate
2.4% - 4.8%
4.1%
0.2%- 2.6%
1.7%
Probability of payment for unachieved milestones
89% - 100%
95%
89% - 100%
90%
Probability of payment for royalties by indication(b)
56% - 100%
99%
56% - 100%
96%
Projected year of payments
2022 - 2034
2027
2022 - 2034
2027
(a) Unobservable inputs were weighted by the relative fair value of the contingent consideration liabilities.
(b) Excluding approved indications, the estimated probability of payment ranged from 56% to 89% at June 30, 2022 and December 31, 2021.
Schedule of changes in fair value of Level 3 inputs The following table presents the changes in fair value of total contingent consideration liabilities which are measured using Level 3 inputs:
Six months ended
June 30,
(in millions)20222021
Beginning balance$14,887 $12,997 
Change in fair value recognized in net earnings861 2,349 
Payments(570)(357)
Ending balance$15,178 $14,989 
Schedule of book values, approximate fair values and bases used to measure certain financial instruments The book values, approximate fair values and bases used to measure the approximate fair values of certain financial instruments as of June 30, 2022 are shown in the table below:
Basis of fair value measurement
(in millions)Book valueApproximate fair valueQuoted prices in active markets for identical assets
(Level 1)		Significant other 
observable inputs
(Level 2)		Significant unobservable inputs
(Level 3)
Liabilities
Short-term borrowings$17 $17 $— $17 $— 
Current portion of long-term debt and finance lease obligations, excluding fair value hedges11,918 11,906 11,549 357 — 
Long-term debt and finance lease obligations, excluding fair value hedges61,202 57,471 56,674 797 — 
Total liabilities$73,137 $69,394 $68,223 $1,171 $— 
The book values, approximate fair values and bases used to measure the approximate fair values of certain financial instruments as of December 31, 2021 are shown in the table below:
Basis of fair value measurement
(in millions)Book valueApproximate fair valueQuoted prices in active markets for identical assets
(Level 1)		Significant other 
observable inputs
(Level 2)		Significant unobservable inputs
(Level 3)
Liabilities
Short-term borrowings$14 $14 $— $14 $— 
Current portion of long-term debt and finance lease obligations, excluding fair value hedges12,455 11,830 11,329 501 — 
Long-term debt and finance lease obligations, excluding fair value hedges64,113 71,810 70,757 1,053 — 
Total liabilities$76,582 $83,654 $82,086 $1,568 $—