Abbott Laboratories (ABT) 10-Q3 Aug 232023 Q2 Quarterly reportFinancial data

Company Profile

Cover

Cover	6 Months Ended
Cover	Jun. 30, 2023 shares
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	1-2189
Entity Registrant Name	ABBOTT LABORATORIES
Entity Incorporation, State or Country Code	IL
Entity Tax Identification Number	36-0698440
Entity Address, Address Line One	100 Abbott Park Road
Entity Address, City or Town	Abbott Park
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60064-6400
City Area Code	224
Local Phone Number	667-6100
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	1,735,357,980
Entity Central Index Key	0000001800
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false
NEW YORK STOCK EXCHANGE, INC.
Document and Entity Information
Title of 12(b) Security	Common Shares, Without Par Value
Trading Symbol	ABT
Security Exchange Name	NYSE
CHICAGO STOCK EXCHANGE, INC
Document and Entity Information
Title of 12(b) Security	Common Shares, Without Par Value
Trading Symbol	ABT
Security Exchange Name	CHX

Condensed Consolidated Statemen

Condensed Consolidated Statement of Earnings (Unaudited) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Net sales	$ 9,978	$ 11,257	$ 19,725	$ 23,152
Cost of products sold, excluding amortization of intangible assets	4,483	4,933	8,814	9,920
Amortization of intangible assets	498	507	989	1,019
Research and development	715	684	1,369	1,381
Selling, general and administrative	2,740	2,757	5,502	5,544
Total operating cost and expenses	8,436	8,881	16,674	17,864
Operating earnings	1,542	2,376	3,051	5,288
Interest expense	159	132	312	263
Interest (income)	(98)	(26)	(199)	(40)
Net foreign exchange (gain) loss	21	0	27	(3)
Other (income) expense, net	(176)	(82)	(287)	(160)
Earnings before taxes	1,636	2,352	3,198	5,228
Taxes on earnings	261	334	505	763
Net Earnings	$ 1,375	$ 2,018	$ 2,693	$ 4,465
Basic Earnings Per Common Share (in dollars per share)	$ 0.79	$ 1.15	$ 1.54	$ 2.53
Diluted Earnings Per Common Share (in dollars per share)	$ 0.78	$ 1.14	$ 1.53	$ 2.51
Average Number of Common Shares Outstanding Used for Basic Earnings Per Common Share (in shares)	1,740,359	1,753,865	1,741,051	1,757,858
Dilutive Common Stock Options (in shares)	9,889	11,598	9,933	12,115
Average Number of Common Shares Outstanding Plus Dilutive Common Stock Options (in shares)	1,750,248	1,765,463	1,750,984	1,769,973
Outstanding Common Stock Options Having No Dilutive Effect (in shares)	5,474	5,419	5,474	2,655

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net Earnings	$ 1,375	$ 2,018	$ 2,693	$ 4,465
Foreign currency translation gain (loss) adjustments	(52)	(315)	87	(421)
Net actuarial gains (losses) and amortization of net actuarial losses and prior service costs and credits, net of taxes of $(3) and $(3) in 2023 and $12 and $25 in 2022	(6)	54	(4)	116
Net gains (losses) for derivative instruments designated as cash flow hedges and other, net of taxes of $4 and $(54) in 2023 and $61 and $46 in 2022	26	29	(103)	(27)
Other comprehensive income (loss)	(32)	(232)	(20)	(332)
Comprehensive Income	1,343	$ 1,786	2,673	$ 4,133
Supplemental Accumulated Other Comprehensive Income (Loss) Information, net of tax:
Cumulative foreign currency translation (loss) adjustments	(6,646)		(6,646)		$ (6,733)
Net actuarial (losses) and prior service (costs) and credits	(1,497)		(1,497)		(1,493)
Cumulative gains (losses) on derivative instruments designated as cash flow hedges and other	72		72		175
Accumulated other comprehensive income (loss)	$ (8,071)		$ (8,071)		$ (8,051)

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Other comprehensive (income) loss, defined benefit plan, after reclassification adjustment, tax (benefit)	$ (3)	$ 12	$ (3)	$ 25
Other comprehensive income (loss), cash flow hedge, gain (loss), after reclassification, tax (benefit)	$ 4	$ 61	$ (54)	$ 46

Condensed Consolidated Balance

Condensed Consolidated Balance Sheet (Unaudited) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Current Assets:
Cash and cash equivalents	$ 7,835	$ 9,882
Short-term investments	320	288
Trade receivables, less allowances of $485 in 2023 and $500 in 2022	6,172	6,218
Inventories:
Finished products	4,004	3,805
Work in process	845	680
Materials	2,022	1,688
Total inventories	6,871	6,173
Prepaid expenses and other receivables	2,307	2,663
Total Current Assets	23,505	25,224
Investments	799	766
Property and equipment, at cost	20,926	20,212
Less: accumulated depreciation and amortization	11,477	11,050
Net property and equipment	9,449	9,162
Intangible assets, net of amortization	9,834	10,454
Goodwill	23,258	22,799
Deferred income taxes and other assets	6,509	6,033
Total Assets	73,354	74,438
Current Liabilities:
Trade accounts payable	4,211	4,607
Salaries, wages and commissions	1,362	1,556
Other accrued liabilities	5,334	5,845
Dividends payable	886	887
Income taxes payable	273	343
Current portion of long-term debt	2,284	2,251
Total Current Liabilities	14,350	15,489
Long-term debt	14,562	14,522
Post-employment obligations, deferred income taxes and other long-term liabilities	7,038	7,522
Commitments and Contingencies
Shareholders’ Investment:
Preferred shares, one dollar par value Authorized — 1,000,000 shares, none issued	0	0
Common shares, without par value Authorized — 2,400,000,000 shares Issued at stated capital amount — Shares: 2023: 1,987,181,491; 2022: 1,986,519,278	24,612	24,709
Common shares held in treasury, at cost — Shares: 2023: 251,823,511; 2022: 248,724,257	(15,722)	(15,229)
Earnings employed in the business	36,355	35,257
Accumulated other comprehensive income (loss)	(8,071)	(8,051)
Total Abbott Shareholders’ Investment	37,174	36,686
Noncontrolling Interests in Subsidiaries	230	219
Total Shareholders’ Investment	37,404	36,905
Total Liabilities and Shareholders' Investment	$ 73,354	$ 74,438

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheet (Unaudited) (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Trade receivables, allowances	$ 485	$ 500
Preferred shares, par value (in dollars per share)	$ 1	$ 1
Preferred shares, authorized (in shares)	1,000,000	1,000,000
Preferred shares, issued (in shares)	0	0
Common shares, authorized (in shares)	2,400,000,000	2,400,000,000
Common shares, issued (in shares)	1,987,181,491	1,986,519,278
Common shares held in treasury (in shares)	251,823,511	248,724,257

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Shareholders' Investment (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Increase (Decrease) in Shareholders' Investment
Beginning balance			$ 36,905
Net earnings	$ 1,375	$ 2,018	2,693	$ 4,465
Other comprehensive income (loss)	(32)	(232)	(20)	(332)
Ending balance	37,404		37,404
Common Shares
Increase (Decrease) in Shareholders' Investment
Beginning balance	24,488	24,304	24,709	24,470
Issued under incentive stock programs	14	10	30	24
Share-based compensation	119	125	415	449
Issuance of restricted stock awards	(9)	(10)	(542)	(514)
Ending balance	24,612	24,429	24,612	24,429
Common Shares Held in Treasury
Increase (Decrease) in Shareholders' Investment
Beginning balance	(15,307)	(13,726)	(15,229)	(11,822)
Issued under incentive stock programs	10	7	252	230
Purchased	(425)	(1)	(745)	(2,128)
Ending balance	(15,722)	(13,720)	(15,722)	(13,720)
Earnings Employed in the Business
Increase (Decrease) in Shareholders' Investment
Beginning balance	35,868	33,295	35,257	31,528
Net earnings	1,375	2,018	2,693	4,465
Cash dividends declared on common shares	(889)	(827)	(1,779)	(1,653)
Effect of common and treasury share transactions	1	1	184	147
Ending balance	36,355	34,487	36,355	34,487
Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Shareholders' Investment
Beginning balance	(8,039)	(8,474)	(8,051)	(8,374)
Other comprehensive income (loss)	(32)	(232)	(20)	(332)
Ending balance	(8,071)	(8,706)	(8,071)	(8,706)
Noncontrolling Interests in Subsidiaries
Increase (Decrease) in Shareholders' Investment
Beginning balance	222	230	219	222
Noncontrolling Interests’ share of income, business combinations, net of distributions and share repurchases	8	(4)	11	4
Ending balance	$ 230	$ 226	$ 230	$ 226

Condensed Consolidated Statem_5

Condensed Consolidated Statement of Shareholders' Investment (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Increase (Decrease) in Shareholders' Investment
Beginning balance, treasury stock, common (in shares)			248,724,257
Ending balance, treasury stock, common (in shares)	251,823,511		251,823,511
Common Shares
Increase (Decrease) in Shareholders' Investment
Beginning balance (in shares)	1,986,904,170	1,985,525,053	1,986,519,278	1,985,273,421
Issued under incentive stock programs (in shares)	277,321	151,682	662,213	403,314
Ending balance (in shares)	1,987,181,491	1,985,676,735	1,987,181,491	1,985,676,735
Common Shares Held in Treasury
Increase (Decrease) in Shareholders' Investment
Beginning balance, treasury stock, common (in shares)	247,957,371	234,582,764	248,724,257	221,191,228
Issued under incentive stock programs (in shares)	157,305	135,663	4,090,470	4,280,139
Purchased (in shares)	4,023,445	9,891	7,189,724	17,545,903
Ending balance, treasury stock, common (in shares)	251,823,511	234,456,992	251,823,511	234,456,992
Earnings Employed in the Business
Increase (Decrease) in Shareholders' Investment
Cash dividends declared on common shares (in dollars per share)	$ 0.51	$ 0.47	$ 1.02	$ 0.94

Condensed Consolidated Statem_6

Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash Flow From (Used in) Operating Activities:
Net earnings	$ 2,693	$ 4,465
Adjustments to reconcile net earnings to net cash from operating activities —
Depreciation	617	626
Amortization of intangible assets	989	1,019
Share-based compensation	413	447
Trade receivables	37	(939)
Inventories	(667)	(1,030)
Other, net	(1,736)	(113)
Net Cash From Operating Activities	2,346	4,475
Cash Flow From (Used in) Investing Activities:
Acquisitions of property and equipment	(887)	(700)
Acquisitions of businesses and technologies, net of cash acquired	(826)	0
Proceeds from business dispositions	40	48
Sales (purchases) of other investment securities, net	(7)	18
Other	5	10
Net Cash From (Used in) Investing Activities	(1,675)	(624)
Cash Flow From (Used in) Financing Activities:
Net borrowings (repayments) of short-term debt and other	(29)	13
Proceeds from issuance of long-term debt	1	6
Repayments of long-term debt	(2)	(752)
Purchases of common shares	(966)	(2,312)
Proceeds from stock options exercised	77	69
Dividends paid	(1,780)	(1,660)
Net Cash From (Used in) Financing Activities	(2,699)	(4,636)
Effect of exchange rate changes on cash and cash equivalents	(19)	(77)
Net Increase (Decrease) in Cash and Cash Equivalents	(2,047)	(862)
Cash and Cash Equivalents, Beginning of Year	9,882	9,799
Cash and Cash Equivalents, End of Period	$ 7,835	$ 8,937

Basis of Presentation

Basis of Presentation	6 Months Ended
Basis of Presentation	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Note 1 — Basis of Presentation The accompanying unaudited, condensed consolidated financial statements have been prepared pursuant to rules and regulations of the Securities and Exchange Commission and, therefore, do not include all information and footnote disclosures normally included in audited financial statements. However, in the opinion of management, all adjustments (which include only normal adjustments) necessary to present fairly the results of operations, financial position and cash flows have been made. It is suggested that these statements be read in conjunction with the financial statements included in Abbott’s Annual Report on Form 10-K for the year ended December 31, 2022. The condensed consolidated financial statements include the accounts of the parent company and subsidiaries, after elimination of intercompany transactions.

New Accounting Standards

New Accounting Standards	6 Months Ended
New Accounting Standards	Jun. 30, 2023
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Standards	Note 2 — New Accounting Standards Recently Adopted Accounting Standards

Revenue

Revenue	6 Months Ended
Revenue	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue	Note 3 — Revenue Abbott’s revenues are derived primarily from the sale of a broad line of health care products under short-term receivable arrangements. Abbott has four reportable segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The following tables provide detail by sales category: Three Months Ended June 30, 2023 Three Months Ended June 30, 2022 (in millions) U.S. Int’l Total U.S. Int’l Total Established Pharmaceutical Products — Key Emerging Markets $ — $ 990 $ 990 $ — $ 946 $ 946 Other — 297 297 — 277 277 Total — 1,287 1,287 — 1,223 1,223 Nutritionals — Pediatric Nutritionals 507 517 1,024 413 512 925 Adult Nutritionals 374 678 1,052 348 680 1,028 Total 881 1,195 2,076 761 1,192 1,953 Diagnostics — Core Laboratory 311 982 1,293 287 934 1,221 Molecular 43 98 141 71 141 212 Point of Care 99 43 142 101 38 139 Rapid Diagnostics 508 233 741 1,982 740 2,722 Total 961 1,356 2,317 2,441 1,853 4,294 Medical Devices — Rhythm Management 269 314 583 264 284 548 Electrophysiology 245 308 553 226 260 486 Heart Failure 226 69 295 207 62 269 Vascular 264 451 715 228 425 653 Structural Heart 219 279 498 207 233 440 Neuromodulation 185 42 227 157 40 197 Diabetes Care 505 919 1,424 399 793 1,192 Total 1,913 2,382 4,295 1,688 2,097 3,785 Other 3 — 3 2 — 2 Total $ 3,758 $ 6,220 $ 9,978 $ 4,892 $ 6,365 $ 11,257 Six Months Ended June 30, 2023 Six Months Ended June 30, 2022 (in millions) U.S. Int’l Total U.S. Int’l Total Established Pharmaceutical Products — Key Emerging Markets $ — $ 1,902 $ 1,902 $ — $ 1,852 $ 1,852 Other — 574 574 — 518 518 Total — 2,476 2,476 — 2,370 2,370 Nutritionals — Pediatric Nutritionals 966 982 1,948 751 1,021 1,772 Adult Nutritionals 727 1,368 2,095 687 1,388 2,075 Total 1,693 2,350 4,043 1,438 2,409 3,847 Diagnostics — Core Laboratory 600 1,875 2,475 555 1,850 2,405 Molecular 90 198 288 243 389 632 Point of Care 192 84 276 192 75 267 Rapid Diagnostics 1,414 552 1,966 4,163 2,084 6,247 Total 2,296 2,709 5,005 5,153 4,398 9,551 Medical Devices — Rhythm Management 529 581 1,110 512 560 1,072 Electrophysiology 483 575 1,058 442 529 971 Heart Failure 444 132 576 403 116 519 Vascular 482 850 1,332 437 835 1,272 Structural Heart 429 530 959 397 454 851 Neuromodulation 340 83 423 300 76 376 Diabetes Care 984 1,753 2,737 742 1,576 2,318 Total 3,691 4,504 8,195 3,233 4,146 7,379 Other 6 — 6 5 — 5 Total $ 7,686 $ 12,039 $ 19,725 $ 9,829 $ 13,323 $ 23,152 Note: The Acelis Connected Health business was internally transferred from Rapid Diagnostics to Heart Failure on January 1, 2023. As a result, $28 million of sales in the second quarter of 2022 and $57 million in the first six months of 2022 were moved from Rapid Diagnostics to Heart Failure. Remaining Performance Obligations As of June 30, 2023, the estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) was approximately $4.2 billion in the Diagnostics segment and approximately $475 million in the Medical Devices segment. Abbott expects to recognize revenue on approximately 59 percent of these remaining performance obligations over the next 24 months, approximately 17 percent over the subsequent 12 months and the remainder thereafter. These performance obligations primarily reflect the future sale of reagents/consumables in contracts with minimum purchase obligations, extended warranty or service obligations related to previously sold equipment, and remote monitoring services related to previously implanted devices. Abbott has applied the practical expedient described in FASB Accounting Standards Codification (ASC) 606-10-50-14 and has not included remaining performance obligations related to contracts with original expected durations of one year or less in the amounts above. Other Contract Assets and Liabilities Abbott discloses Trade receivables separately in the Condensed Consolidated Balance Sheet at the net amount expected to be collected. Contract assets primarily relate to Abbott’s conditional right to consideration for work completed but not billed at the reporting date. Contract assets at the beginning and the end of the period, as well as the changes in the balance, were not significant. Contract liabilities primarily relate to payments received from customers in advance of performance under the contract. Abbott’s contract liabilities arise primarily in the Medical Devices reportable segment when payment is received upfront for various multi-period extended service arrangements. Changes in the contract liabilities during the period are as follows: (in millions) Contract Liabilities: Balance at December 31, 2022 $ 500 Unearned revenue from cash received during the period 243 Revenue recognized related to contract liability balance (192) Balance at June 30, 2023 $ 551

Supplemental Financial Informat

Supplemental Financial Information	6 Months Ended
Supplemental Financial Information	Jun. 30, 2023
Disclosure Text Block Supplement [Abstract]
Supplemental Financial Information	Note 4 — Supplemental Financial Information Shares of unvested restricted stock that contain non-forfeitable rights to dividends are treated as participating securities and are included in the computation of earnings per share under the two-class method. Under the two-class method, net earnings are allocated between common shares and participating securities. Net earnings allocated to common shares for the three months ended June 30, 2023 and 2022 were $1.370 billion and $2.009 billion, respectively, and for the six months ended June 30, 2023 and 2022 were $2.682 billion and $4.447 billion, respectively. Other, net in Net cash from operating activities in the Condensed Consolidated Statement of Cash Flows for the first six months of 2023 includes $290 million of pension contributions and the payment of cash taxes of approximately $837 million. The first six months of 2022 includes $348 million of pension contributions and the payment of cash taxes of approximately $657 million. The following summarizes the activity for the first six months of 2023 related to the allowance for doubtful accounts as of June 30, 2023: (in millions) Allowance for Doubtful Accounts: Balance at December 31, 2022 $ 262 Provisions/charges to income 16 Amounts charged off and other deductions (12) Balance at June 30, 2023 $ 266 The allowance for doubtful accounts reflects the current estimate of credit losses expected to be incurred over the life of the accounts receivable. Abbott considers various factors in establishing, monitoring, and adjusting its allowance for doubtful accounts, including the aging of the accounts and aging trends, the historical level of charge-offs, and specific exposures related to particular customers. Abbott also monitors other risk factors and forward-looking information, such as country risk, when determining credit limits for customers and establishing adequate allowances. The components of long-term investments as of June 30, 2023 and December 31, 2022 are as follows: (in millions) June 30, December 31, Long-term Investments: Equity securities $ 574 $ 558 Other 225 208 Total $ 799 $ 766 The increase in Abbott’s long-term investments as of June 30, 2023 versus the balance as of December 31, 2022 is primarily due to investments acquired as part of a business acquisition and other additional investments, partially offset by the impact of equity method investment losses. Abbott’s equity securities as of June 30, 2023 include $305 million of investments in mutual funds that are held in a rabbi trust and were acquired as part of the St. Jude Medical, Inc. business acquisition. These investments, which are specifically designated as available for the purpose of paying benefits under a deferred compensation plan, are not available for general corporate purposes and are subject to creditor claims in the event of insolvency. Abbott also holds certain investments as of June 30, 2023 with a carrying value of $164 million that are accounted for under the equity method of accounting and other equity investments with a carrying value of approximately $95 million that do not have a readily determinable fair value.

Changes In Accumulated Other Co

Changes In Accumulated Other Comprehensive Income (Loss)	6 Months Ended
Changes In Accumulated Other Comprehensive Income (Loss)	Jun. 30, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Changes In Accumulated Other Comprehensive Income (Loss)	Note 5 — Changes In Accumulated Other Comprehensive Income (Loss) The changes in accumulated other comprehensive income (loss), net of income taxes, are as follows: Three Months Ended June 30 Cumulative Foreign Net Actuarial (Losses) and Cumulative Gains (Losses) (in millions) 2023 2022 2023 2022 2023 2022 Balance at March 31 $ (6,594) $ (5,945) $ (1,491) $ (2,608) $ 46 $ 79 Other comprehensive income (loss) before reclassifications (52) (315) 1 13 80 45 Amounts reclassified from accumulated other comprehensive income — — (7) 41 (54) (16) Net current period comprehensive income (loss) (52) (315) (6) 54 26 29 Balance at June 30 $ (6,646) $ (6,260) $ (1,497) $ (2,554) $ 72 $ 108 Six Months Ended June 30 Cumulative Foreign Net Actuarial (Losses) and Cumulative Gains (Losses) (in millions) 2023 2022 2023 2022 2023 2022 Balance at January 1 $ (6,733) $ (5,839) $ (1,493) $ (2,670) $ 175 $ 135 Other comprehensive income (loss) before reclassifications 87 (421) 3 30 38 11 Amounts reclassified from accumulated other comprehensive income — — (7) 86 (141) (38) Net current period comprehensive income (loss) 87 (421) (4) 116 (103) (27) Balance at June 30 $ (6,646) $ (6,260) $ (1,497) $ (2,554) $ 72 $ 108 Reclassified amounts for cash flow hedges are recorded as Cost of products sold. Net actuarial losses and prior service cost are included as a component of net periodic benefit costs; see Note 13 for additional details.

Business Acquisition

Business Acquisition	6 Months Ended
Business Acquisition	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Business Acquisition	Note 6 — Business Acquisition On April 27, 2023, Abbott completed the acquisition of Cardiovascular Systems, Inc (CSI) for $20 per common share, which equated to a purchase price of $851 million. The transaction was funded with cash on hand and accounted for as a business combination. CSI's atherectomy system, which is used in treating peripheral and coronary artery disease, adds complimentary technologies to Abbott's portfolio of vascular device offerings.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
Goodwill and Intangible Assets	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Note 7 — Goodwill and Intangible Assets The total amount of goodwill reported was $23.3 billion at June 30, 2023 and $22.8 billion at December 31, 2022. The acquisition of CSI increased goodwill by approximately $340 million and f oreign currency translation adjustments increased goodwill by approximately $120 million in the first six months of 2023. The amount of goodwill related to reportable segments at June 30, 2023 was $2.7 billion for the Established Pharmaceutical Products segment, $286 million for the Nutritional Products segment, $3.5 billion for the Diagnostic Products segment, and $16.7 billion for the Medical Devices segment. There was no reduction of goodwill relating to impairments in the first six months of 2023. The gross amount of amortizable intangible assets, primarily product rights and technology, was $27.7 billion and $27.2 billion as of June 30, 2023 and December 31, 2022, respectively. The gross amount of amortizable intangible assets increased by $290 million due to the CSI acquisition. Accumulated amortization was $18.7 billion and $17.6 billion as of June 30, 2023 and December 31, 2022, respectively. Foreign currency translation adjustments increased intangible assets by $47 million in the first six months of 2023. Abbott’s estimated annual amortization expense for intangible assets is approximately $2.0 billion in 2023, $1.9 billion in 2024, $1.7 billion in 2025, $1.6 billion in 2026 and $1.3 billion in 2027. Indefinite-lived intangible assets, which relate to in-process research and development (IPR&D) acquired in a business combination, were approximately $822 million as of June 30, 2023 and $807 million as of December 31, 2022 . In the second quarter of 2023, the acquisition of CSI increased IPR&D by $60 million. This increase was partially offset by $45 million of charges recorded on the Research and development line of the Condensed Consolidated Statement of Earnings for the impairment of certain indefinite-lived intangible assets related to the Medical Devices reportable segment.

Restructuring Plans

Restructuring Plans	6 Months Ended
Restructuring Plans	Jun. 30, 2023
Restructuring and Related Activities [Abstract]
Restructuring Plans	Note 8 — Restructuring Plans In 2022 and 2023, Abbott management approved various plans to streamline operations in order to reduce costs and improve efficiencies in its medical devices, nutritional, diagnostic, and established pharmaceutical businesses. In the six months ended June 30, 2023, Abbott recorded employee related severance and other charges of approximately $49 million, of which approximately $17 million was recorded in Cost of products sold, approximately $5 million was recorded in Research and development, and approximately $27 million was recorded in Selling, general and administrative expenses. In addition, Abbott recognized fixed asset impairment charges of approximately $17 million related to these restructuring plans. The following summarizes the activity related to these restructuring actions and the status of the related accruals as of June 30, 2023: (in millions) Total Accrued balance at December 31, 2022 $ 228 Restructuring charges in 2023 49 Payments and other adjustments (120) Accrued balance at June 30, 2023 $ 157

Incentive Stock Programs

Incentive Stock Programs	6 Months Ended
Incentive Stock Programs	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Incentive Stock Programs	Note 9 — Incentive Stock Programs In the first six months of 2023, Abbott granted 1,973,371 stock options, 460,447 restricted stock awards and 4,854,027 restricted stock units under its incentive stock program. At June 30, 2023, approximately 74 million shares were reserved for future grants. Information regarding the number of options outstanding and exercisable at June 30, 2023 is as follows: Outstanding Exercisable Number of shares 29,508,026 24,819,977 Weighted average remaining life (years) 5.2 4.5 Weighted average exercise price $ 73.66 $ 66.04 Aggregate intrinsic value (in millions) $ 1,107 $ 1,101 The total unrecognized share-based compensation cost at June 30, 2023 amounted to approximately $660 million which is expected to be recognized over the next three years.

Debt and Lines of Credit

Debt and Lines of Credit	6 Months Ended
Debt and Lines of Credit	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt and Lines of Credit	Note 10 — Debt and Lines of Credit On March 15, 2022, Abbott repaid the $750 million outstanding principal amount of its 2.55% Notes upon maturity.

Financial Instruments, Derivati

Financial Instruments, Derivatives and Fair Value Measures	6 Months Ended
Financial Instruments, Derivatives and Fair Value Measures	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Instruments, Derivatives and Fair Value Measures	Note 11 — Financial Instruments, Derivatives and Fair Value Measures Certain Abbott foreign subsidiaries enter into foreign currency forward exchange contracts to manage exposures to changes in foreign exchange rates primarily for anticipated intercompany purchases by those subsidiaries whose functional currencies are not the U.S. dollar. These contracts, with gross notional amounts totaling $7.1 billion at June 30, 2023 and $7.7 billion at December 31, 2022, are designated as cash flow hedges of the variability of the cash flows due to changes in foreign exchange rates and are recorded at fair value. Accumulated gains and losses as of June 30, 2023 will be included in Cost of products sold at the time the products are sold, generally through the next twelve Abbott enters into foreign currency forward exchange contracts to manage currency exposures for foreign currency denominated third-party trade payables and receivables, and for intercompany loans and trade accounts payable where the receivable or payable is denominated in a currency other than the functional currency of the entity. For intercompany loans, the contracts require Abbott to sell or buy foreign currencies, primarily European currencies, in exchange for primarily U.S. dollars and other European currencies. For intercompany and trade payables and receivables, the currency exposures are primarily the U.S. dollar and European currencies. At June 30, 2023 and December 31, 2022, Abbott held the gross notional amounts of $12.3 billion and $12.0 billion, respectively, of such foreign currency forward exchange contracts. Abbott has designated a yen-denominated, 5-year term loan of approximately $413 million and $446 million as of June 30, 2023 and December 31, 2022, respectively, as a hedge of the net investment in certain foreign subsidiaries. The change in the value of the debt, which is due to changes in foreign exchange rates, is recorded in Accumulated other comprehensive income (loss), net of tax. Abbott is a party to interest rate hedge contracts with a notional amount totaling approximately $2.9 billion at June 30, 2023 and December 31, 2022 to manage its exposure to changes in the fair value of fixed-rate debt. These contracts are designated as fair value hedges of the variability of the fair value of fixed-rate debt due to changes in the long-term benchmark interest rates. The effect of the hedge is to change a fixed-rate interest obligation to a variable rate for that portion of the debt. Abbott records the contracts at fair value and adjusts the carrying amount of the fixed-rate debt by an offsetting amount. The following table summarizes the amounts and location of certain derivative and non-derivative financial instruments as of June 30, 2023 and December 31, 2022: Fair Value - Assets Fair Value - Liabilities (in millions) June 30, December 31, 2022 Balance Sheet Caption June 30, December 31, 2022 Balance Sheet Caption Interest rate swaps designated as fair value hedges: Non-current $ — $ — Deferred income taxes and other assets $ 142 $ 136 Post-employment obligations, deferred income taxes and other long-term liabilities Current — — Prepaid expenses and other receivables 11 20 Other accrued liabilities Foreign currency forward exchange contracts: Hedging instruments 147 304 Prepaid expenses and other receivables 129 96 Other accrued liabilities Others not designated as hedges 78 108 Prepaid expenses and other receivables 62 130 Other accrued liabilities Debt designated as a hedge of net investment in a foreign subsidiary — — n/a 413 446 Long-term debt $ 225 $ 412 $ 757 $ 828 The following table summarizes the activity for foreign currency forward exchange contracts designated as cash flow hedges and certain other derivative financial instruments, as well as the amounts and location of income (expense) and gain (loss) reclassified into income for the three and six months ended June 30, 2023 and 2022. Gain (loss) Recognized in Other Income (expense) and Gain (loss) Three Months Six Months Three Months Six Months (in millions) 2023 2022 2023 2022 2023 2022 2023 2022 Income Statement Caption Foreign currency forward exchange contracts designated as cash flow hedges $ 90 $ 141 $ 27 $ 92 $ 63 $ 43 $ 189 $ 70 Cost of products sold Debt designated as a hedge of net investment in a foreign subsidiary 38 54 33 84 — — — — n/a Interest rate swaps designated as fair value hedges n/a n/a n/a n/a (6) (47) 3 (168) Interest expense Gains of $39 million and $303 million were recognized in the three months ended June 30, 2023 and 2022, respectively, related to foreign currency forward exchange contracts not designated as a hedge. A loss of $64 million and a gain of $252 million were recognized in the first six months ended June 30, 2023 and 2022, respectively, related to foreign currency forward exchange contracts not designated as a hedge. These amounts are reported in the Condensed Consolidated Statement of Earnings on the Net foreign exchange (gain) loss line. The carrying values and fair values of certain financial instruments as of June 30, 2023 and December 31, 2022 are shown in the following table. The carrying values of all other financial instruments approximate their estimated fair values. The counterparties to financial instruments consist of select major international financial institutions. Abbott does not expect any losses from non-performance by these counterparties. June 30, 2023 December 31, 2022 (in millions) Carrying Fair Carrying Fair Long-term Investment Securities: Equity securities $ 574 $ 574 $ 558 $ 558 Other 225 225 208 208 Total Long-term Debt (16,846) (16,555) (16,773) (16,313) Foreign Currency Forward Exchange Contracts: Receivable position 225 225 412 412 (Payable) position (191) (191) (226) (226) Interest Rate Hedge Contracts: Receivable position — — — — (Payable) position (153) (153) (156) (156) The fair value of the debt was determined based on significant other observable inputs, including current interest rates. The following table summarizes the bases used to measure certain assets and liabilities at fair value on a recurring basis in the balance sheet: Basis of Fair Value Measurement (in millions) Outstanding Quoted Significant Significant June 30, 2023: Equity securities $ 315 $ 315 $ — $ — Foreign currency forward exchange contracts 225 — 225 — Total Assets $ 540 $ 315 $ 225 $ — Fair value of hedged long-term debt $ 2,697 $ — $ 2,697 $ — Interest rate swap derivative financial instruments 153 — 153 — Foreign currency forward exchange contracts 191 — 191 — Contingent consideration related to business combinations 84 — — 84 Total Liabilities $ 3,125 $ — $ 3,041 $ 84 December 31, 2022: Equity securities $ 307 $ 307 $ — $ — Foreign currency forward exchange contracts 412 — 412 — Total Assets $ 719 $ 307 $ 412 $ — Fair value of hedged long-term debt $ 2,691 $ — $ 2,691 $ — Interest rate swap derivative financial instruments 156 156 Foreign currency forward exchange contracts 226 — 226 — Contingent consideration related to business combinations 130 — — 130 Total Liabilities $ 3,203 $ — $ 3,073 $ 130

Litigation and Environmental Ma

Litigation and Environmental Matters	6 Months Ended
Litigation and Environmental Matters	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Litigation and Environmental Matters	Note 12 — Litigation and Environmental Matters Abbott has been identified as a potentially responsible party for investigation and cleanup costs at a number of locations in the United States and Puerto Rico under federal and state remediation laws and is investigating potential contamination at a number of company-owned locations. Abbott has recorded an estimated cleanup cost for each site for which management believes Abbott has a probable loss exposure. No individual site cleanup exposure is expected to exceed $4 million, and the aggregate cleanup exposure is not expected to exceed $10 million. Abbott is involved in various claims and legal proceedings, and Abbott estimates the range of possible loss for its legal proceedings and environmental exposures to be from approximately $25 million to $35 million. The recorded accrual balance at June 30, 2023 for these proceedings and exposures was approximately $30 million. This accrual represents management’s best estimate of probable loss, as defined by FASB ASC No. 450, “Contingencies.” Within the next year, legal proceedings may occur that may result in a change in the estimated loss accrued by Abbott. While it is not feasible to predict the outcome of all such proceedings and exposures with certainty, management believes that their ultimate disposition should not have a material adverse effect on Abbott’s financial position, cash flows, or results of operations.

Post-Employment Benefits

Post-Employment Benefits	6 Months Ended
Post-Employment Benefits	Jun. 30, 2023
Postemployment Benefits [Abstract]
Post-Employment Benefits	Note 13 — Post-Employment Benefits Retirement plans consist of defined benefit, defined contribution, and medical and dental plans. Net periodic benefit costs, other than service costs, are recognized in the Other (income) expense, net line of the Condensed Consolidated Statement of Earnings. Net cost recognized for the three and six months ended June 30 for Abbott’s major defined benefit plans and post-employment medical and dental benefit plans is as follows: Defined Benefit Plans Medical and Dental Plans Three Months Six Months Three Months Six Months (in millions) 2023 2022 2023 2022 2023 2022 2023 2022 Service cost - benefits earned during the period $ 58 $ 94 $ 118 $ 190 $ 10 $ 12 $ 19 $ 25 Interest cost on projected benefit obligations 114 75 228 151 16 8 30 18 Expected return on plan assets (243) (234) (485) (470) (6) (8) (12) (15) Curtailment gain (14) — (14) — — — — — Net amortization of: Actuarial loss, net 3 57 6 116 (1) 1 (1) 6 Prior service cost (credit) — 1 — 1 (4) (6) (7) (12) Net cost (credit) $ (82) $ (7) $ (147) $ (12) $ 15 $ 7 $ 29 $ 22 Abbott funds its domestic defined benefit plans according to Internal Revenue Service funding limitations. International pension plans are funded according to similar regulations. In the first six months of 2023 and 2022, $290 million and $348 million, respectively, were contributed to defined benefit plans. In the first six months of 2023 and 2022, $28 million was contributed, in each year, to the post-employment medical and dental plans.

Taxes on Earnings

Taxes on Earnings	6 Months Ended
Taxes on Earnings	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Taxes on Earnings	Note 14 — Taxes on Earnings Taxes on earnings reflect the estimated annual effective rates and include charges for interest and penalties. In the first six months of 2023 and 2022, taxes on earnings include approximately $9 million and $32 million, respectively, in excess tax benefits associated with share-based compensation. In the first six months of 2023 and 2022, taxes on earnings also include approximately $62 million and $27 million, respectively, of tax expense as the result of the resolution of various tax positions related to prior years. Tax authorities in various jurisdictions regularly review Abbott’s income tax filings. Abbott believes that it is reasonably possible that the recorded amount of gross unrecognized tax benefits may decrease approximately $100 million, including cash adjustments, within the next twelve months as a result of concluding various domestic and international tax matters.

Segment Information

Segment Information	6 Months Ended
Segment Information	Jun. 30, 2023
Segment Reporting [Abstract]
Segment Information	Note 15 — Segment Information Abbott’s principal business is the discovery, development, manufacture and sale of a broad line of health care products. Abbott’s products are generally sold directly to retailers, wholesalers, hospitals, health care facilities, laboratories, physicians’ offices and government agencies throughout the world. Abbott’s reportable segments are as follows: Established Pharmaceutical Products — International sales of a broad line of branded generic pharmaceutical products. Nutritional Products — Worldwide sales of a broad line of adult and pediatric nutritional products. Diagnostic Products — Worldwide sales of diagnostic systems and tests for blood banks, hospitals, commercial laboratories and alternate-care testing sites. For segment reporting purposes, the Core Laboratory Diagnostics, Rapid Diagnostics, Molecular Diagnostics and Point of Care Diagnostics divisions are aggregated and reported as the Diagnostic Products segment. Medical Devices — Worldwide sales of rhythm management, electrophysiology, heart failure, vascular, structural heart, neuromodulation and diabetes care products. For segment reporting purposes, the Cardiac Rhythm Management, Electrophysiology, Heart Failure, Vascular, Structural Heart, Neuromodulation and Diabetes Care divisions are aggregated and reported as the Medical Devices segment. Abbott’s underlying accounting records are maintained on a legal entity basis for government and public reporting requirements. Segment disclosures are on a performance basis consistent with internal management reporting. Intersegment transfers of inventory are recorded at standard cost and are not a measure of segment operating earnings. The cost of some corporate functions and the cost of certain employee benefits are charged to segments at predetermined rates that approximate cost. Remaining costs, if any, are not allocated to segments. In addition, intangible asset amortization is not allocated to operating segments, and intangible assets and goodwill are not included in the measure of each segment’s assets. The following segment information has been prepared in accordance with the internal accounting policies of Abbott, as described above, and is not presented in accordance with generally accepted accounting principles applied to the consolidated financial statements. Net Sales to External Customers Operating Earnings Three Months Six Months Three Months Six Months (in millions) 2023 2022 2023 2022 2023 2022 2023 2022 Established Pharmaceutical Products $ 1,287 $ 1,223 $ 2,476 $ 2,370 $ 307 $ 258 $ 607 $ 500 Nutritional Products 2,076 1,953 4,043 3,847 308 230 688 481 Diagnostic Products 2,317 4,294 5,005 9,551 437 1,705 1,088 4,269 Medical Devices 4,295 3,785 8,195 7,379 1,385 1,160 2,463 2,243 Total Reportable Segments 9,975 11,255 19,719 23,147 2,437 3,353 4,846 7,493 Other 3 2 6 5 Net sales $ 9,978 $ 11,257 $ 19,725 $ 23,152 Corporate functions and benefit plan costs (71) (123) (148) (237) Net interest expense (61) (106) (113) (223) Share-based compensation (a) (132) (142) (413) (447) Amortization of intangible assets (498) (507) (989) (1,019) Other, net (b) (39) (123) 15 (339) Earnings before taxes $ 1,636 $ 2,352 $ 3,198 $ 5,228 ______________________________________ Notes: Three and six months ended June 30, 2022 Sales and Operating Earnings for the Diagnostic Products and Medical Devices reportable segments have been updated to reflect the internal transfer of the Acelis Connected Health business from Diagnostic Products to Medical Devices on January 1, 2023. (a) Approximately 45 percent of the annual net cost of share-based awards will typically be recognized in the first quarter due to the timing of the granting of share-based awards. (b) Other, net for the three and six months ended June 30, 2023 includes costs associated with the acquisition of CSI, charges related to restructurings, and income arising from fair value changes in contingent consideration related to previous business combinations. Other, net for the three and six months ended June 30, 2022 includes $42 million and $162 million, respectively, of charges related to a voluntary recall within the Nutritional Products segment as well as integration costs related to the acquisition of Alere Inc.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net earnings	$ 1,375	$ 2,018	$ 2,693	$ 4,465

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
Insider Trading Arrangements	Jun. 30, 2023 shares	Jun. 30, 2023 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Andrea F. Wainer [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On May 1, 2023, Andrea F. Wainer, Executive Vice President, Rapid and Molecular Diagnostics, adopted a plan for the sale of securities of Abbott that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). Ms. Wainer's Rule 10b5-1 plan provides for the sale of 5,400 shares and the exercise of up to 111,606 stock options until June 30, 2024.
Name	Andrea F. Wainer
Title	Executive Vice President, Rapid and Molecular Diagnostics
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	May 1, 2023
Arrangement Duration	426 days
Andrea F. Wainer Trading Arrangement, Common Stock [Member] \| Andrea F. Wainer [Member]
Trading Arrangements, by Individual
Aggregate Available	5,400	5,400
Andrea F. Wainer Trading Arrangement, Stock Options [Member] \| Andrea F. Wainer [Member]
Trading Arrangements, by Individual
Aggregate Available	111,606	111,606

New Accounting Standards (Polic

New Accounting Standards (Policies)	6 Months Ended
New Accounting Standards (Policies)	Jun. 30, 2023
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recently Adopted Accounting Standards	Recently Adopted Accounting StandardsIn September 2022, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update 2022-04, Disclosure of Supplier Finance Program Obligations, which requires an entity to report information about its supplier finance program. Abbott adopted the standard on January 1, 2023. The new standard did not have an impact on Abbott's condensed consolidated financial statements.

Revenue (Tables)

Revenue (Tables)	6 Months Ended
Revenue (Tables)	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Summary of Revenue by Sales Category	The following tables provide detail by sales category: Three Months Ended June 30, 2023 Three Months Ended June 30, 2022 (in millions) U.S. Int’l Total U.S. Int’l Total Established Pharmaceutical Products — Key Emerging Markets $ — $ 990 $ 990 $ — $ 946 $ 946 Other — 297 297 — 277 277 Total — 1,287 1,287 — 1,223 1,223 Nutritionals — Pediatric Nutritionals 507 517 1,024 413 512 925 Adult Nutritionals 374 678 1,052 348 680 1,028 Total 881 1,195 2,076 761 1,192 1,953 Diagnostics — Core Laboratory 311 982 1,293 287 934 1,221 Molecular 43 98 141 71 141 212 Point of Care 99 43 142 101 38 139 Rapid Diagnostics 508 233 741 1,982 740 2,722 Total 961 1,356 2,317 2,441 1,853 4,294 Medical Devices — Rhythm Management 269 314 583 264 284 548 Electrophysiology 245 308 553 226 260 486 Heart Failure 226 69 295 207 62 269 Vascular 264 451 715 228 425 653 Structural Heart 219 279 498 207 233 440 Neuromodulation 185 42 227 157 40 197 Diabetes Care 505 919 1,424 399 793 1,192 Total 1,913 2,382 4,295 1,688 2,097 3,785 Other 3 — 3 2 — 2 Total $ 3,758 $ 6,220 $ 9,978 $ 4,892 $ 6,365 $ 11,257 Six Months Ended June 30, 2023 Six Months Ended June 30, 2022 (in millions) U.S. Int’l Total U.S. Int’l Total Established Pharmaceutical Products — Key Emerging Markets $ — $ 1,902 $ 1,902 $ — $ 1,852 $ 1,852 Other — 574 574 — 518 518 Total — 2,476 2,476 — 2,370 2,370 Nutritionals — Pediatric Nutritionals 966 982 1,948 751 1,021 1,772 Adult Nutritionals 727 1,368 2,095 687 1,388 2,075 Total 1,693 2,350 4,043 1,438 2,409 3,847 Diagnostics — Core Laboratory 600 1,875 2,475 555 1,850 2,405 Molecular 90 198 288 243 389 632 Point of Care 192 84 276 192 75 267 Rapid Diagnostics 1,414 552 1,966 4,163 2,084 6,247 Total 2,296 2,709 5,005 5,153 4,398 9,551 Medical Devices — Rhythm Management 529 581 1,110 512 560 1,072 Electrophysiology 483 575 1,058 442 529 971 Heart Failure 444 132 576 403 116 519 Vascular 482 850 1,332 437 835 1,272 Structural Heart 429 530 959 397 454 851 Neuromodulation 340 83 423 300 76 376 Diabetes Care 984 1,753 2,737 742 1,576 2,318 Total 3,691 4,504 8,195 3,233 4,146 7,379 Other 6 — 6 5 — 5 Total $ 7,686 $ 12,039 $ 19,725 $ 9,829 $ 13,323 $ 23,152 Note: The Acelis Connected Health business was internally transferred from Rapid Diagnostics to Heart Failure on January 1, 2023. As a result, $28 million of sales in the second quarter of 2022 and $57 million in the first six months of 2022 were moved from Rapid Diagnostics to Heart Failure.
Schedule of Changes in Contract Liabilities	Changes in the contract liabilities during the period are as follows: (in millions) Contract Liabilities: Balance at December 31, 2022 $ 500 Unearned revenue from cash received during the period 243 Revenue recognized related to contract liability balance (192) Balance at June 30, 2023 $ 551

Supplemental Financial Inform_2

Supplemental Financial Information (Tables)	6 Months Ended
Supplemental Financial Information (Tables)	Jun. 30, 2023
Disclosure Text Block Supplement [Abstract]
Summary of Allowance for Doubtful Accounts Activity	The following summarizes the activity for the first six months of 2023 related to the allowance for doubtful accounts as of June 30, 2023: (in millions) Allowance for Doubtful Accounts: Balance at December 31, 2022 $ 262 Provisions/charges to income 16 Amounts charged off and other deductions (12) Balance at June 30, 2023 $ 266
Schedule of Long-term Investments	The components of long-term investments as of June 30, 2023 and December 31, 2022 are as follows: (in millions) June 30, December 31, Long-term Investments: Equity securities $ 574 $ 558 Other 225 208 Total $ 799 $ 766

Changes In Accumulated Other _2

Changes In Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss), Net of Taxes	The changes in accumulated other comprehensive income (loss), net of income taxes, are as follows: Three Months Ended June 30 Cumulative Foreign Net Actuarial (Losses) and Cumulative Gains (Losses) (in millions) 2023 2022 2023 2022 2023 2022 Balance at March 31 $ (6,594) $ (5,945) $ (1,491) $ (2,608) $ 46 $ 79 Other comprehensive income (loss) before reclassifications (52) (315) 1 13 80 45 Amounts reclassified from accumulated other comprehensive income — — (7) 41 (54) (16) Net current period comprehensive income (loss) (52) (315) (6) 54 26 29 Balance at June 30 $ (6,646) $ (6,260) $ (1,497) $ (2,554) $ 72 $ 108 Six Months Ended June 30 Cumulative Foreign Net Actuarial (Losses) and Cumulative Gains (Losses) (in millions) 2023 2022 2023 2022 2023 2022 Balance at January 1 $ (6,733) $ (5,839) $ (1,493) $ (2,670) $ 175 $ 135 Other comprehensive income (loss) before reclassifications 87 (421) 3 30 38 11 Amounts reclassified from accumulated other comprehensive income — — (7) 86 (141) (38) Net current period comprehensive income (loss) 87 (421) (4) 116 (103) (27) Balance at June 30 $ (6,646) $ (6,260) $ (1,497) $ (2,554) $ 72 $ 108

Restructuring Plans (Tables)

Restructuring Plans (Tables)	6 Months Ended
Restructuring Plans (Tables)	Jun. 30, 2023
Restructuring and Related Activities [Abstract]
Restructuring Activity and Related Accruals	The following summarizes the activity related to these restructuring actions and the status of the related accruals as of June 30, 2023: (in millions) Total Accrued balance at December 31, 2022 $ 228 Restructuring charges in 2023 49 Payments and other adjustments (120) Accrued balance at June 30, 2023 $ 157

Incentive Stock Programs (Table

Incentive Stock Programs (Tables)	6 Months Ended
Incentive Stock Programs (Tables)	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Summary of Options Outstanding and Exercisable	Information regarding the number of options outstanding and exercisable at June 30, 2023 is as follows: Outstanding Exercisable Number of shares 29,508,026 24,819,977 Weighted average remaining life (years) 5.2 4.5 Weighted average exercise price $ 73.66 $ 66.04 Aggregate intrinsic value (in millions) $ 1,107 $ 1,101

Financial Instruments, Deriva_2

Financial Instruments, Derivatives and Fair Value Measures (Tables)	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Amounts and Location of Derivative Financial Instruments	The following table summarizes the amounts and location of certain derivative and non-derivative financial instruments as of June 30, 2023 and December 31, 2022: Fair Value - Assets Fair Value - Liabilities (in millions) June 30, December 31, 2022 Balance Sheet Caption June 30, December 31, 2022 Balance Sheet Caption Interest rate swaps designated as fair value hedges: Non-current $ — $ — Deferred income taxes and other assets $ 142 $ 136 Post-employment obligations, deferred income taxes and other long-term liabilities Current — — Prepaid expenses and other receivables 11 20 Other accrued liabilities Foreign currency forward exchange contracts: Hedging instruments 147 304 Prepaid expenses and other receivables 129 96 Other accrued liabilities Others not designated as hedges 78 108 Prepaid expenses and other receivables 62 130 Other accrued liabilities Debt designated as a hedge of net investment in a foreign subsidiary — — n/a 413 446 Long-term debt $ 225 $ 412 $ 757 $ 828
Schedule of Derivatives Gain (Loss) in OCI and Income (Expense)	The following table summarizes the activity for foreign currency forward exchange contracts designated as cash flow hedges and certain other derivative financial instruments, as well as the amounts and location of income (expense) and gain (loss) reclassified into income for the three and six months ended June 30, 2023 and 2022. Gain (loss) Recognized in Other Income (expense) and Gain (loss) Three Months Six Months Three Months Six Months (in millions) 2023 2022 2023 2022 2023 2022 2023 2022 Income Statement Caption Foreign currency forward exchange contracts designated as cash flow hedges $ 90 $ 141 $ 27 $ 92 $ 63 $ 43 $ 189 $ 70 Cost of products sold Debt designated as a hedge of net investment in a foreign subsidiary 38 54 33 84 — — — — n/a Interest rate swaps designated as fair value hedges n/a n/a n/a n/a (6) (47) 3 (168) Interest expense
Schedule of Carrying Values and Fair Values of Financial Instruments	The carrying values and fair values of certain financial instruments as of June 30, 2023 and December 31, 2022 are shown in the following table. The carrying values of all other financial instruments approximate their estimated fair values. The counterparties to financial instruments consist of select major international financial institutions. Abbott does not expect any losses from non-performance by these counterparties. June 30, 2023 December 31, 2022 (in millions) Carrying Fair Carrying Fair Long-term Investment Securities: Equity securities $ 574 $ 574 $ 558 $ 558 Other 225 225 208 208 Total Long-term Debt (16,846) (16,555) (16,773) (16,313) Foreign Currency Forward Exchange Contracts: Receivable position 225 225 412 412 (Payable) position (191) (191) (226) (226) Interest Rate Hedge Contracts: Receivable position — — — — (Payable) position (153) (153) (156) (156)
Summary of Bases Used to Measure Assets and Liabilities at Fair Value on a Recurring Basis	The following table summarizes the bases used to measure certain assets and liabilities at fair value on a recurring basis in the balance sheet: Basis of Fair Value Measurement (in millions) Outstanding Quoted Significant Significant June 30, 2023: Equity securities $ 315 $ 315 $ — $ — Foreign currency forward exchange contracts 225 — 225 — Total Assets $ 540 $ 315 $ 225 $ — Fair value of hedged long-term debt $ 2,697 $ — $ 2,697 $ — Interest rate swap derivative financial instruments 153 — 153 — Foreign currency forward exchange contracts 191 — 191 — Contingent consideration related to business combinations 84 — — 84 Total Liabilities $ 3,125 $ — $ 3,041 $ 84 December 31, 2022: Equity securities $ 307 $ 307 $ — $ — Foreign currency forward exchange contracts 412 — 412 — Total Assets $ 719 $ 307 $ 412 $ — Fair value of hedged long-term debt $ 2,691 $ — $ 2,691 $ — Interest rate swap derivative financial instruments 156 156 Foreign currency forward exchange contracts 226 — 226 — Contingent consideration related to business combinations 130 — — 130 Total Liabilities $ 3,203 $ — $ 3,073 $ 130

Post-Employment Benefits (Table

Post-Employment Benefits (Tables)	6 Months Ended
Post-Employment Benefits (Tables)	Jun. 30, 2023
Postemployment Benefits [Abstract]
Schedule of Net Periodic Benefit Costs	Net cost recognized for the three and six months ended June 30 for Abbott’s major defined benefit plans and post-employment medical and dental benefit plans is as follows: Defined Benefit Plans Medical and Dental Plans Three Months Six Months Three Months Six Months (in millions) 2023 2022 2023 2022 2023 2022 2023 2022 Service cost - benefits earned during the period $ 58 $ 94 $ 118 $ 190 $ 10 $ 12 $ 19 $ 25 Interest cost on projected benefit obligations 114 75 228 151 16 8 30 18 Expected return on plan assets (243) (234) (485) (470) (6) (8) (12) (15) Curtailment gain (14) — (14) — — — — — Net amortization of: Actuarial loss, net 3 57 6 116 (1) 1 (1) 6 Prior service cost (credit) — 1 — 1 (4) (6) (7) (12) Net cost (credit) $ (82) $ (7) $ (147) $ (12) $ 15 $ 7 $ 29 $ 22

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
Segment Information (Tables)	Jun. 30, 2023
Segment Reporting [Abstract]
Schedule of Segment Information	The following segment information has been prepared in accordance with the internal accounting policies of Abbott, as described above, and is not presented in accordance with generally accepted accounting principles applied to the consolidated financial statements. Net Sales to External Customers Operating Earnings Three Months Six Months Three Months Six Months (in millions) 2023 2022 2023 2022 2023 2022 2023 2022 Established Pharmaceutical Products $ 1,287 $ 1,223 $ 2,476 $ 2,370 $ 307 $ 258 $ 607 $ 500 Nutritional Products 2,076 1,953 4,043 3,847 308 230 688 481 Diagnostic Products 2,317 4,294 5,005 9,551 437 1,705 1,088 4,269 Medical Devices 4,295 3,785 8,195 7,379 1,385 1,160 2,463 2,243 Total Reportable Segments 9,975 11,255 19,719 23,147 2,437 3,353 4,846 7,493 Other 3 2 6 5 Net sales $ 9,978 $ 11,257 $ 19,725 $ 23,152 Corporate functions and benefit plan costs (71) (123) (148) (237) Net interest expense (61) (106) (113) (223) Share-based compensation (a) (132) (142) (413) (447) Amortization of intangible assets (498) (507) (989) (1,019) Other, net (b) (39) (123) 15 (339) Earnings before taxes $ 1,636 $ 2,352 $ 3,198 $ 5,228 ______________________________________ Notes: Three and six months ended June 30, 2022 Sales and Operating Earnings for the Diagnostic Products and Medical Devices reportable segments have been updated to reflect the internal transfer of the Acelis Connected Health business from Diagnostic Products to Medical Devices on January 1, 2023. (a) Approximately 45 percent of the annual net cost of share-based awards will typically be recognized in the first quarter due to the timing of the granting of share-based awards. (b) Other, net for the three and six months ended June 30, 2023 includes costs associated with the acquisition of CSI, charges related to restructurings, and income arising from fair value changes in contingent consideration related to previous business combinations. Other, net for the three and six months ended June 30, 2022 includes $42 million and $162 million, respectively, of charges related to a voluntary recall within the Nutritional Products segment as well as integration costs related to the acquisition of Alere Inc.

Revenue - Narrative (Details)

Revenue - Narrative (Details) $ in Millions	3 Months Ended		6 Months Ended
Revenue - Narrative (Details) $ in Millions	Jun. 30, 2023 USD ($) segment	Jun. 30, 2022 segment	Jun. 30, 2023 USD ($) segment	Jun. 30, 2022 segment
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Number of reportable segments \| segment	4	4	4	4
Diagnostics
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 4,200		$ 4,200
Medical Devices
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 475		$ 475
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percentage of remaining performance obligation expected to be recognized in period			59%
Expected timing of satisfaction period (in months)	24 months		24 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percentage of remaining performance obligation expected to be recognized in period			17%
Expected timing of satisfaction period (in months)	12 months		12 months

Revenue - Summary of Revenue by

Revenue - Summary of Revenue by Sales Category (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Net sales	$ 9,978	$ 11,257	$ 19,725	$ 23,152
Operating Segments
Segment Reporting Information [Line Items]
Net sales	9,975	11,255	19,719	23,147
Other
Segment Reporting Information [Line Items]
Net sales	3	2	6	5
United States
Segment Reporting Information [Line Items]
Net sales	3,758	4,892	7,686	9,829
United States \| Other
Segment Reporting Information [Line Items]
Net sales	3	2	6	5
International
Segment Reporting Information [Line Items]
Net sales	6,220	6,365	12,039	13,323
International \| Other
Segment Reporting Information [Line Items]
Net sales	0	0	0	0
Established Pharmaceutical Products \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	1,287	1,223	2,476	2,370
Established Pharmaceutical Products \| United States \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	0	0	0	0
Established Pharmaceutical Products \| International \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	1,287	1,223	2,476	2,370
Nutritionals \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	2,076	1,953	4,043	3,847
Nutritionals \| United States \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	881	761	1,693	1,438
Nutritionals \| International \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	1,195	1,192	2,350	2,409
Diagnostics \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	2,317	4,294	5,005	9,551
Diagnostics \| United States \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	961	2,441	2,296	5,153
Diagnostics \| International \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	1,356	1,853	2,709	4,398
Medical Devices \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	4,295	3,785	8,195	7,379
Medical Devices \| United States \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	1,913	1,688	3,691	3,233
Medical Devices \| International \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	2,382	2,097	4,504	4,146
Key Emerging Markets \| Established Pharmaceutical Products \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	990	946	1,902	1,852
Key Emerging Markets \| Established Pharmaceutical Products \| United States \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	0	0	0	0
Key Emerging Markets \| Established Pharmaceutical Products \| International \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	990	946	1,902	1,852
Other \| Established Pharmaceutical Products \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	297	277	574	518
Other \| Established Pharmaceutical Products \| United States \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	0	0	0	0
Other \| Established Pharmaceutical Products \| International \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	297	277	574	518
Pediatric Nutritionals \| Nutritionals \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	1,024	925	1,948	1,772
Pediatric Nutritionals \| Nutritionals \| United States \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	507	413	966	751
Pediatric Nutritionals \| Nutritionals \| International \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	517	512	982	1,021
Adult Nutritionals \| Nutritionals \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	1,052	1,028	2,095	2,075
Adult Nutritionals \| Nutritionals \| United States \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	374	348	727	687
Adult Nutritionals \| Nutritionals \| International \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	678	680	1,368	1,388
Core Laboratory \| Diagnostics \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	1,293	1,221	2,475	2,405
Core Laboratory \| Diagnostics \| United States \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	311	287	600	555
Core Laboratory \| Diagnostics \| International \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	982	934	1,875	1,850
Molecular \| Diagnostics \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	141	212	288	632
Molecular \| Diagnostics \| United States \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	43	71	90	243
Molecular \| Diagnostics \| International \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	98	141	198	389
Point of Care \| Diagnostics \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	142	139	276	267
Point of Care \| Diagnostics \| United States \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	99	101	192	192
Point of Care \| Diagnostics \| International \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	43	38	84	75
Rapid Diagnostics \| Diagnostics \| Revision of Prior Period, Reclassification, Adjustment
Segment Reporting Information [Line Items]
Net sales		(28)		(57)
Rapid Diagnostics \| Diagnostics \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	741	2,722	1,966	6,247
Rapid Diagnostics \| Diagnostics \| United States \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	508	1,982	1,414	4,163
Rapid Diagnostics \| Diagnostics \| International \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	233	740	552	2,084
Rhythm Management \| Medical Devices \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	583	548	1,110	1,072
Rhythm Management \| Medical Devices \| United States \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	269	264	529	512
Rhythm Management \| Medical Devices \| International \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	314	284	581	560
Electrophysiology \| Medical Devices \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	553	486	1,058	971
Electrophysiology \| Medical Devices \| United States \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	245	226	483	442
Electrophysiology \| Medical Devices \| International \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	308	260	575	529
Heart Failure \| Medical Devices \| Revision of Prior Period, Reclassification, Adjustment
Segment Reporting Information [Line Items]
Net sales		28		57
Heart Failure \| Medical Devices \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	295	269	576	519
Heart Failure \| Medical Devices \| United States \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	226	207	444	403
Heart Failure \| Medical Devices \| International \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	69	62	132	116
Vascular \| Medical Devices \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	715	653	1,332	1,272
Vascular \| Medical Devices \| United States \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	264	228	482	437
Vascular \| Medical Devices \| International \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	451	425	850	835
Structural Heart \| Medical Devices \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	498	440	959	851
Structural Heart \| Medical Devices \| United States \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	219	207	429	397
Structural Heart \| Medical Devices \| International \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	279	233	530	454
Neuromodulation \| Medical Devices \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	227	197	423	376
Neuromodulation \| Medical Devices \| United States \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	185	157	340	300
Neuromodulation \| Medical Devices \| International \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	42	40	83	76
Diabetes Care \| Medical Devices \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	1,424	1,192	2,737	2,318
Diabetes Care \| Medical Devices \| United States \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	505	399	984	742
Diabetes Care \| Medical Devices \| International \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	$ 919	$ 793	$ 1,753	$ 1,576

Revenue - Schedule of Changes i

Revenue - Schedule of Changes in Contract Liabilities (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Contract Liabilities:
Beginning balance	$ 500
Unearned revenue from cash received during the period	243
Revenue recognized related to contract liability balance	(192)
Ending balance	$ 551

Supplemental Financial Inform_3

Supplemental Financial Information - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Condensed Cash Flow Statements, Captions [Line Items]
Net earnings allocated to common shares	$ 1,370	$ 2,009	$ 2,682	$ 4,447
Payment of cash taxes			837	657
Equity method investments carrying value	164		164
Equity investment without readily determinable fair value	95		95
St. Jude Medical \| Equity securities
Condensed Cash Flow Statements, Captions [Line Items]
Securities in mutual funds held in a rabbi trust	$ 305		305
Defined Benefit Plans
Condensed Cash Flow Statements, Captions [Line Items]
Pension contributions			$ 290	$ 348

Supplemental Financial Inform_4

Supplemental Financial Information - Allowance for Doubtful Accounts (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Allowance for Doubtful Accounts:
Beginning balance	$ 262
Provisions/charges to income	16
Amounts charged off and other deductions	(12)
Ending balance	$ 266

Supplemental Financial Inform_5

Supplemental Financial Information - Investments (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Summary of Investment Holdings [Line Items]
Investments	$ 799	$ 766
Equity securities
Summary of Investment Holdings [Line Items]
Investments	574	558
Other
Summary of Investment Holdings [Line Items]
Investments	$ 225	$ 208

Changes In Accumulated Other _3

Changes In Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Changes in accumulated other comprehensive income (loss), net of income taxes
Beginning of the period			$ 36,686
Other comprehensive income (loss)	$ (32)	$ (232)	(20)	$ (332)
End of the period	37,174		37,174
Cumulative Foreign Currency Translation (Loss) Adjustments
Changes in accumulated other comprehensive income (loss), net of income taxes
Beginning of the period	(6,594)	(5,945)	(6,733)	(5,839)
Other comprehensive income (loss) before reclassifications	(52)	(315)	87	(421)
Amounts reclassified from accumulated other comprehensive income	0	0	0	0
Other comprehensive income (loss)	(52)	(315)	87	(421)
End of the period	(6,646)	(6,260)	(6,646)	(6,260)
Net Actuarial (Losses) and Prior Service (Costs) and Credits
Changes in accumulated other comprehensive income (loss), net of income taxes
Beginning of the period	(1,491)	(2,608)	(1,493)	(2,670)
Other comprehensive income (loss) before reclassifications	1	13	3	30
Amounts reclassified from accumulated other comprehensive income	(7)	41	(7)	86
Other comprehensive income (loss)	(6)	54	(4)	116
End of the period	(1,497)	(2,554)	(1,497)	(2,554)
Cumulative Gains (Losses) on Derivative Instruments Designated as Cash Flow Hedges and Other
Changes in accumulated other comprehensive income (loss), net of income taxes
Beginning of the period	46	79	175	135
Other comprehensive income (loss) before reclassifications	80	45	38	11
Amounts reclassified from accumulated other comprehensive income	(54)	(16)	(141)	(38)
Other comprehensive income (loss)	26	29	(103)	(27)
End of the period	$ 72	$ 108	$ 72	$ 108

Business Acquisition (Details)

Business Acquisition (Details) - USD ($) $ / shares in Units, $ in Millions	Apr. 27, 2023	Jun. 30, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Goodwill		$ 23,258	$ 22,799
CSI
Business Acquisition [Line Items]
Acquisition share price (in dollars per share)	$ 20
Acquisition purchase price	$ 851
Developed technology intangible asset	290
In-process research and development	60
Goodwill	340
Net deferred tax assets	18
Other net assets	$ 143

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Apr. 27, 2023	Dec. 31, 2022
Goodwill and Intangible Assets [Line Items]
Goodwill	$ 23,258	$ 23,258		$ 22,799
Increase in goodwill due to foreign currency translation adjustments		120
Amount of reductions of goodwill relating to impairments		0
Gross amount of amortizable intangible assets	27,700	27,700		27,200
Accumulated amortization of intangible assets	18,700	18,700		17,600
Increase in intangible assets due to foreign currency translation adjustments		47
Estimated annual amortization expense, intangible assets, 2023	2,000	2,000
Estimated annual amortization expense, intangible assets, 2024	1,900	1,900
Estimated annual amortization expense, intangible assets, 2025	1,700	1,700
Estimated annual amortization expense, intangible assets, 2026	1,600	1,600
Estimated annual amortization expense, intangible assets, 2027	1,300	1,300
Indefinite-lived intangible assets related to in-process R&D acquired in a business combination	822	822		$ 807
CSI
Goodwill and Intangible Assets [Line Items]
Goodwill			$ 340
Increase in goodwill due to acquisition		340
Increase in amortizable intangible assets due to acquisition		290
Increase in in-process R&D due to acquisition	60
Established Pharmaceutical Products
Goodwill and Intangible Assets [Line Items]
Goodwill	2,700	2,700
Nutritionals
Goodwill and Intangible Assets [Line Items]
Goodwill	286	286
Diagnostics
Goodwill and Intangible Assets [Line Items]
Goodwill	3,500	3,500
Medical Devices
Goodwill and Intangible Assets [Line Items]
Goodwill	16,700	$ 16,700
Impairment of indefinite-lived intangible assets	$ 45

Restructuring Plans - Narrative

Restructuring Plans - Narrative (Details) - 2022 and 2023 Restructuring Plan, Streamline of Operations and Improve Efficiencies for Four Businesses $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 49
Fixed asset impairment charges	17
Cost of products sold
Restructuring Cost and Reserve [Line Items]
Restructuring charges	17
Research and Development
Restructuring Cost and Reserve [Line Items]
Restructuring charges	5
Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 27

Restructuring Plans - Restructu

Restructuring Plans - Restructuring Activity and Related Accruals (Details) - 2022 and 2023 Restructuring Plan, Streamline of Operations and Improve Efficiencies for Four Businesses $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Restructuring Reserve [Roll Forward]
Accrued balance at beginning of the period	$ 228
Restructuring charges in 2023	49
Payments and other adjustments	(120)
Accrued balance at end of the period	$ 157

Incentive Stock Programs - Narr

Incentive Stock Programs - Narrative (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($) shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Incentive stock program, shares reserved for future grants (in shares)	74,000,000
Total unrecognized compensation cost \| $	$ 660
Total unrecognized compensation cost, recognition period	3 years
Stock Options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options granted during the period (in shares)	1,973,371
Restricted Stock Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Restricted stock awards granted during the period (in shares)	460,447
Restricted Stock Units (RSUs)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Restricted stock units granted during period (in shares)	4,854,027

Incentive Stock Programs - Opti

Incentive Stock Programs - Options (Details) - Stock Options $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($) $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options outstanding, number of shares \| shares	29,508,026
Exercisable options, number of shares \| shares	24,819,977
Stock options outstanding, weighted-average remaining life	5 years 2 months 12 days
Exercisable options, weighted-average remaining life	4 years 6 months
Stock options outstanding, weighted-average exercise price (in dollars per share) \| $ / shares	$ 73.66
Exercisable options, weighted-average exercise price (in dollars per share) \| $ / shares	$ 66.04
Aggregate intrinsic value of options outstanding \| $	$ 1,107
Aggregate intrinsic value of options exercisable \| $	$ 1,101

Debt and Lines of Credit (Detai

Debt and Lines of Credit (Details) - 2.55% Long-term Notes Due 2022 $ in Millions	Mar. 15, 2022 USD ($)
Debt Instrument [Line Items]
Repayments of debt	$ 750
Interest rate percentage	2.55%

Financial Instruments, Deriva_3

Financial Instruments, Derivatives and Fair Value Measures - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Derivative [Line Items]
Yen-denominated term loan	$ 757		$ 757		$ 828
Net Investment Hedging \| Designated as Hedging Instrument \| Five Year Term Loan due 2024
Derivative [Line Items]
Debt instrument, term			5 years		5 years
Yen-denominated term loan	413		$ 413		$ 446
Foreign Exchange Forward
Derivative [Line Items]
Gain (loss) from foreign currency forward exchange contracts not designated as hedges	39	$ 303	(64)	$ 252
Foreign Exchange Forward \| Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative, notional amount	12,300		12,300		12,000
Foreign Exchange Forward \| Cash Flow Hedging \| Designated as Hedging Instrument
Derivative [Line Items]
Derivative, notional amount	7,100		$ 7,100		7,700
Minimum length of time over which accumulated gains and losses will be recognized in Cost of products sold			12 months
Maximum length of time over which accumulated gains and losses will be recognized in Cost of products sold			18 months
Interest Rate Swap \| Fair Value Hedging \| Designated as Hedging Instrument
Derivative [Line Items]
Derivative, notional amount	$ 2,900		$ 2,900		$ 2,900

Financial Instruments, Deriva_4

Financial Instruments, Derivatives and Fair Value Measures - Amounts and Location of Derivative Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Fair Value - Assets	$ 225	$ 412
Fair Value - Liabilities	757	828
Designated as Hedging Instrument \| Interest Rate Swap \| Deferred income taxes and other assets \| Fair Value Hedging
Derivatives, Fair Value [Line Items]
Fair Value - Assets	0	0
Designated as Hedging Instrument \| Interest Rate Swap \| Prepaid expenses and other receivables, current \| Fair Value Hedging
Derivatives, Fair Value [Line Items]
Fair Value - Assets	0	0
Designated as Hedging Instrument \| Interest Rate Swap \| Post-employment obligations, deferred income taxes and other long-term liabilities \| Fair Value Hedging
Derivatives, Fair Value [Line Items]
Fair Value - Liabilities	142	136
Designated as Hedging Instrument \| Interest Rate Swap \| Other accrued liabilities \| Fair Value Hedging
Derivatives, Fair Value [Line Items]
Fair Value - Liabilities	11	20
Designated as Hedging Instrument \| Foreign Exchange Forward \| Prepaid expenses and other receivables
Derivatives, Fair Value [Line Items]
Fair Value - Assets	147	304
Designated as Hedging Instrument \| Foreign Exchange Forward \| Other accrued liabilities
Derivatives, Fair Value [Line Items]
Fair Value - Liabilities	129	96
Designated as Hedging Instrument \| Debt \| Long-term debt \| Net Investment Hedging
Derivatives, Fair Value [Line Items]
Fair Value - Liabilities	413	446
Not Designated as Hedging Instrument \| Foreign Exchange Forward \| Prepaid expenses and other receivables
Derivatives, Fair Value [Line Items]
Fair Value - Assets	78	108
Not Designated as Hedging Instrument \| Foreign Exchange Forward \| Other accrued liabilities
Derivatives, Fair Value [Line Items]
Fair Value - Liabilities	$ 62	$ 130

Financial Instruments, Deriva_5

Financial Instruments, Derivatives and Fair Value Measures - Schedule of Derivatives Gain (Loss) in OCI and Income (Expense) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Foreign Exchange Forward \| Cost of products sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in other comprehensive income (loss), foreign currency forward exchange contracts designated as cash flow hedges	$ 90	$ 141	$ 27	$ 92
Income (expense) and gain (loss) reclassified into income, foreign currency forward exchange contracts designated as cash flow hedges	63	43	189	70
Debt
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in other comprehensive income (loss), debt designated as a hedge of net investment in a foreign subsidiary	38	54	33	84
Interest Rate Swap \| Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Income (expense) and gain (loss) reclassified into income, interest rate swaps designated as fair value hedges	$ (6)	$ (47)	$ 3	$ (168)

Financial Instruments, Deriva_6

Financial Instruments, Derivatives and Fair Value Measures - Carrying Value and Fair Value (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Derivative [Line Items]
Long-term Investment Securities:	$ 799	$ 766
Receivable position	225	412
(Payable) position	(757)	(828)
Equity securities
Derivative [Line Items]
Long-term Investment Securities:	574	558
Carrying Value
Derivative [Line Items]
Total Long-term Debt	(16,846)	(16,773)
Carrying Value \| Foreign Exchange Forward
Derivative [Line Items]
Receivable position	225	412
(Payable) position	(191)	(226)
Carrying Value \| Interest Rate Swap
Derivative [Line Items]
Receivable position	0	0
(Payable) position	(153)	(156)
Carrying Value \| Equity securities
Derivative [Line Items]
Long-term Investment Securities:	574	558
Carrying Value \| Other
Derivative [Line Items]
Long-term Investment Securities:	225	208
Fair Value
Derivative [Line Items]
Total Long-term Debt	(16,555)	(16,313)
Fair Value \| Foreign Exchange Forward
Derivative [Line Items]
Receivable position	225	412
(Payable) position	(191)	(226)
Fair Value \| Interest Rate Swap
Derivative [Line Items]
Receivable position	0	0
(Payable) position	(153)	(156)
Fair Value \| Equity securities
Derivative [Line Items]
Long-term Investment Securities:	574	558
Fair Value \| Other
Derivative [Line Items]
Long-term Investment Securities:	$ 225	$ 208

Financial Instruments, Deriva_7

Financial Instruments, Derivatives and Fair Value Measures - Bases of Measurement (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Quoted Prices in Active Markets
Assets, at Fair Value
Equity securities	$ 315	$ 307
Foreign currency forward exchange contracts	0	0
Total Assets	315	307
Liabilities, at Fair Value
Fair value of hedged long-term debt	0	0
Interest rate swap derivative financial instruments	0
Foreign currency forward exchange contracts	0	0
Contingent consideration related to business combinations	0	0
Total Liabilities	0	0
Significant Other Observable Inputs
Assets, at Fair Value
Equity securities	0	0
Foreign currency forward exchange contracts	225	412
Total Assets	225	412
Liabilities, at Fair Value
Fair value of hedged long-term debt	2,697	2,691
Interest rate swap derivative financial instruments	153	156
Foreign currency forward exchange contracts	191	226
Contingent consideration related to business combinations	0	0
Total Liabilities	3,041	3,073
Significant Unobservable Inputs
Assets, at Fair Value
Equity securities	0	0
Foreign currency forward exchange contracts	0	0
Total Assets	0	0
Liabilities, at Fair Value
Fair value of hedged long-term debt	0	0
Interest rate swap derivative financial instruments	0
Foreign currency forward exchange contracts	0	0
Contingent consideration related to business combinations	84	130
Total Liabilities	84	130
Outstanding Balances
Assets, at Fair Value
Equity securities	315	307
Foreign currency forward exchange contracts	225	412
Total Assets	540	719
Liabilities, at Fair Value
Fair value of hedged long-term debt	2,697	2,691
Interest rate swap derivative financial instruments	153	156
Foreign currency forward exchange contracts	191	226
Contingent consideration related to business combinations	84	130
Total Liabilities	$ 3,125	$ 3,203

Litigation and Environmental _2

Litigation and Environmental Matters (Details) $ in Millions	Jun. 30, 2023 USD ($)
Loss Contingencies [Line Items]
Maximum expected cleanup exposure for individual site	$ 4
Maximum expected cleanup exposure in aggregate	10
Legal proceedings and environmental exposures
Loss Contingencies [Line Items]
Recorded accrual balance for legal proceedings and exposures	30
Legal proceedings and environmental exposures \| Minimum
Loss Contingencies [Line Items]
Estimation of possible loss	25
Legal proceedings and environmental exposures \| Maximum
Loss Contingencies [Line Items]
Estimation of possible loss	$ 35

Post-Employment Benefits - Sche

Post-Employment Benefits - Schedule of Net Periodic Benefit Costs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Defined Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost - benefits earned during the period	$ 58	$ 94	$ 118	$ 190
Interest cost on projected benefit obligations	114	75	228	151
Expected return on plan assets	(243)	(234)	(485)	(470)
Curtailment gain	(14)	0	(14)	0
Net amortization of:
Actuarial loss, net	3	57	6	116
Prior service cost (credit)	0	1	0	1
Net cost (credit)	(82)	(7)	(147)	(12)
Medical and Dental Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost - benefits earned during the period	10	12	19	25
Interest cost on projected benefit obligations	16	8	30	18
Expected return on plan assets	(6)	(8)	(12)	(15)
Curtailment gain	0	0	0	0
Net amortization of:
Actuarial loss, net	(1)	1	(1)	6
Prior service cost (credit)	(4)	(6)	(7)	(12)
Net cost (credit)	$ 15	$ 7	$ 29	$ 22

Post-Employment Benefits - Narr

Post-Employment Benefits - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Defined Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Company contributions	$ 290	$ 348
Medical and Dental Plans
Defined Benefit Plan Disclosure [Line Items]
Company contributions	$ 28	$ 28

Taxes on Earnings (Details)

Taxes on Earnings (Details) - USD ($) $ in Millions	6 Months Ended
Taxes on Earnings (Details) - USD ($) $ in Millions	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Excess tax benefits associated with share-based compensation	$ 9	$ 32
Tax expense from prior year tax positions	62	$ 27
Decrease reasonably possible in gross unrecognized tax benefits	$ 100

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Segment Information (Details) - USD ($) $ in Millions	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Net Sales to External Customers	$ 9,978	$ 11,257	$ 19,725	$ 23,152
Operating Earnings	1,542	2,376	3,051	5,288
Amortization of intangible assets	(498)	(507)	(989)	(1,019)
Earnings before taxes	$ 1,636	$ 2,352	$ 3,198	$ 5,228
Annual share-based awards recognized in first quarter (as a percent)	45%	45%	45%	45%
Nutritional Products
Segment Reporting Information [Line Items]
Inventory recall expense		$ 42		$ 162
Operating Segments
Segment Reporting Information [Line Items]
Net Sales to External Customers	$ 9,975	11,255	$ 19,719	23,147
Operating Earnings	2,437	3,353	4,846	7,493
Operating Segments \| Established Pharmaceutical Products
Segment Reporting Information [Line Items]
Net Sales to External Customers	1,287	1,223	2,476	2,370
Operating Earnings	307	258	607	500
Operating Segments \| Nutritional Products
Segment Reporting Information [Line Items]
Net Sales to External Customers	2,076	1,953	4,043	3,847
Operating Earnings	308	230	688	481
Operating Segments \| Diagnostic Products
Segment Reporting Information [Line Items]
Net Sales to External Customers	2,317	4,294	5,005	9,551
Operating Earnings	437	1,705	1,088	4,269
Operating Segments \| Medical Devices
Segment Reporting Information [Line Items]
Net Sales to External Customers	4,295	3,785	8,195	7,379
Operating Earnings	1,385	1,160	2,463	2,243
Other
Segment Reporting Information [Line Items]
Net Sales to External Customers	3	2	6	5
Segment Reconciling Items
Segment Reporting Information [Line Items]
Corporate functions and benefit plan costs	(71)	(123)	(148)	(237)
Net interest expense	(61)	(106)	(113)	(223)
Share-based compensation	(132)	(142)	(413)	(447)
Amortization of intangible assets	(498)	(507)	(989)	(1,019)
Other, net	$ (39)	$ (123)	$ 15	$ (339)