Abbott Laboratories (ABT) 10-Q2 May 242024 Q1 Quarterly reportFinancial data

Company Profile

Cover

Cover	3 Months Ended
Cover	Mar. 31, 2024 shares
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
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	1,739,633,759
Entity Central Index Key	0000001800
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
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
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Net sales	$ 9,964	$ 9,747
Cost of products sold, excluding amortization of intangible assets	4,463	4,331
Amortization of intangible assets	472	491
Research and development	684	654
Selling, general and administrative	2,959	2,762
Total operating cost and expenses	8,578	8,238
Operating earnings	1,386	1,509
Interest expense	141	153
Interest (income)	(80)	(101)
Net foreign exchange (gain) loss	0	6
Other (income) expense, net	(111)	(111)
Earnings before taxes	1,436	1,562
Taxes on earnings	211	244
Net Earnings	$ 1,225	$ 1,318
Basic Earnings Per Common Share (in dollars per share)	$ 0.70	$ 0.75
Diluted Earnings Per Common Share (in dollars per share)	$ 0.70	$ 0.75
Average Number of Common Shares Outstanding Used for Basic Earnings Per Common Share (in shares)	1,740,203	1,741,738
Dilutive Common Stock Options (in shares)	9,449	9,977
Average Number of Common Shares Outstanding Plus Dilutive Common Stock Options (in shares)	1,749,652	1,751,715
Outstanding Common Stock Options Having No Dilutive Effect (in shares)	6,892	7,332

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Statement of Comprehensive Income [Abstract]
Net Earnings	$ 1,225	$ 1,318
Foreign currency translation gain (loss) adjustments	(386)	139
Net actuarial gains (losses) and amortization of net actuarial losses and prior service costs and credits, net of taxes of $1 in 2024 and $— in 2023	4	2
Net gains (losses) for derivative instruments designated as cash flow hedges and other, net of taxes of $30 in 2024 and $(58) in 2023	55	(129)
Other comprehensive income (loss)	(327)	12
Comprehensive Income	898	$ 1,330
Supplemental Accumulated Other Comprehensive Income (Loss) Information, net of tax:
Cumulative foreign currency translation (loss) adjustments	(6,890)		$ (6,504)
Net actuarial (losses) and prior service (costs) and credits	(1,372)		(1,376)
Cumulative gains (losses) on derivative instruments designated as cash flow hedges	96		41
Accumulated Other Comprehensive Income (Loss)	$ (8,166)		$ (7,839)

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Other comprehensive (income) loss, defined benefit plan, after reclassification adjustment, tax (benefit)	$ 1	$ 0
Other comprehensive income (loss), cash flow hedge, gain (loss), after reclassification, tax (benefit)	$ 30	$ (58)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheet (Unaudited) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Current Assets:
Cash and cash equivalents	$ 6,284	$ 6,896
Short-term investments	367	383
Trade receivables, less allowances of $439 in 2024 and $444 in 2023	6,605	6,565
Inventories:
Finished products	4,063	3,946
Work in process	881	807
Materials	1,883	1,817
Total inventories	6,827	6,570
Prepaid expenses and other receivables	2,293	2,256
Total Current Assets	22,376	22,670
Investments	818	799
Property and equipment, at cost	22,055	21,933
Less: accumulated depreciation and amortization	11,948	11,779
Net property and equipment	10,107	10,154
Intangible assets, net of amortization	8,296	8,815
Goodwill	23,383	23,679
Deferred income taxes and other assets	7,487	7,097
Total Assets	72,467	73,214
Current Liabilities:
Trade accounts payable	4,178	4,295
Salaries, wages and commissions	1,092	1,597
Other accrued liabilities	5,220	5,422
Dividends payable	959	955
Income taxes payable	562	492
Current portion of long-term debt	2,010	1,080
Total Current Liabilities	14,021	13,841
Long-term debt	12,576	13,599
Post-employment obligations, deferred income taxes and other long-term liabilities	6,827	6,947
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: 2024: 1,989,789,999; 2023: 1,987,883,852	24,726	24,869
Common shares held in treasury, at cost — Shares: 2024: 250,155,515; 2023: 253,807,494	(15,761)	(15,981)
Earnings employed in the business	38,011	37,554
Accumulated other comprehensive income (loss)	(8,166)	(7,839)
Total Abbott Shareholders’ Investment	38,810	38,603
Noncontrolling Interests in Subsidiaries	233	224
Total Shareholders’ Investment	39,043	38,827
Total Liabilities and Shareholders' Investment	$ 72,467	$ 73,214

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheet (Unaudited) (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Trade receivables, allowances	$ 439	$ 444
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)	1,989,789,999	1,987,883,852
Common shares held in treasury (in shares)	250,155,515	253,807,494

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Shareholders' Investment (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Increase (Decrease) in Shareholders' Investment
Beginning balance	$ 38,827
Net earnings	1,225	$ 1,318
Other comprehensive income (loss)	(327)	12
Ending balance	39,043
Common Shares
Increase (Decrease) in Shareholders' Investment
Beginning balance	24,869	24,709
Issued under incentive stock programs	87	16
Share-based compensation	322	296
Issuance of restricted stock awards	(552)	(533)
Ending balance	24,726	24,488
Common Shares Held in Treasury
Increase (Decrease) in Shareholders' Investment
Beginning balance	(15,981)	(15,229)
Issued under incentive stock programs	242	242
Purchased	(22)	(320)
Ending balance	(15,761)	(15,307)
Earnings Employed in the Business
Increase (Decrease) in Shareholders' Investment
Beginning balance	37,554	35,257
Net earnings	1,225	1,318
Cash dividends declared on common shares	(960)	(890)
Effect of common and treasury share transactions	192	183
Ending balance	38,011	35,868
Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Shareholders' Investment
Beginning balance	(7,839)	(8,051)
Other comprehensive income (loss)	(327)	12
Ending balance	(8,166)	(8,039)
Noncontrolling Interests in Subsidiaries
Increase (Decrease) in Shareholders' Investment
Beginning balance	224	219
Noncontrolling Interests’ share of income, business combinations, net of distributions and share repurchases	9	3
Ending balance	$ 233	$ 222

Condensed Consolidated Statem_5

Condensed Consolidated Statement of Shareholders' Investment (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Increase (Decrease) in Shareholders' Investment
Beginning balance, treasury stock, common (in shares)	253,807,494
Ending balance, treasury stock, common (in shares)	250,155,515
Common Shares
Increase (Decrease) in Shareholders' Investment
Beginning balance (in shares)	1,987,883,852	1,986,519,278
Issued under incentive stock programs (in shares)	1,906,147	384,892
Ending balance (in shares)	1,989,789,999	1,986,904,170
Common Shares Held in Treasury
Increase (Decrease) in Shareholders' Investment
Beginning balance, treasury stock, common (in shares)	253,807,494	248,724,257
Issued under incentive stock programs (in shares)	3,838,255	3,933,165
Purchased (in shares)	186,276	3,166,279
Ending balance, treasury stock, common (in shares)	250,155,515	247,957,371
Earnings Employed in the Business
Increase (Decrease) in Shareholders' Investment
Cash dividends declared on common shares (in dollars per share)	$ 0.55	$ 0.51

Condensed Consolidated Statem_6

Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash Flow From (Used in) Operating Activities:
Net earnings	$ 1,225	$ 1,318
Adjustments to reconcile net earnings to net cash from operating activities —
Depreciation	333	315
Amortization of intangible assets	472	491
Share-based compensation	304	281
Trade receivables	(151)	233
Inventories	(410)	(419)
Other, net	(748)	(1,076)
Net Cash From Operating Activities	1,025	1,143
Cash Flow From (Used in) Investing Activities:
Acquisitions of property and equipment	(398)	(380)
Sales (purchases) of other investment securities, net	(28)	(86)
Other	1	4
Net Cash From (Used in) Investing Activities	(425)	(462)
Cash Flow From (Used in) Financing Activities:
Net borrowings (repayments) of short-term debt and other	(127)	(42)
Purchases of common shares	(226)	(540)
Proceeds from stock options exercised	134	62
Dividends paid	(957)	(890)
Net Cash From (Used in) Financing Activities	(1,176)	(1,410)
Effect of exchange rate changes on cash and cash equivalents	(36)	8
Net Increase (Decrease) in Cash and Cash Equivalents	(612)	(721)
Cash and Cash Equivalents, Beginning of Year	6,896	9,882
Cash and Cash Equivalents, End of Period	$ 6,284	$ 9,161

Basis of Presentation

Basis of Presentation	3 Months Ended
Basis of Presentation	Mar. 31, 2024
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, 2023. 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	3 Months Ended
New Accounting Standards	Mar. 31, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Standards	Note 2 — New Accounting Standards Recent Accounting Standards Not Yet Adopted In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which expands the breadth and frequency of required segment disclosures. The guidance is required to be applied retrospectively to all periods presented in the financial statements. The standard becomes effective for Abbott for full year 2024 reporting and for interim periods beginning in the first quarter of 2025. Abbott is currently evaluating the impact of this new standard on its consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which requires an entity to disclose annually additional information related to the company's income tax rate reconciliation and income taxes paid during the period. The guidance should be applied prospectively with the option to apply the standard retrospectively. The standard becomes effective for Abbott for full year 2025 reporting. Abbott is currently evaluating the impact of this new standard on its consolidated financial statements.

Revenue

Revenue	3 Months Ended
Revenue	Mar. 31, 2024
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 March 31, 2024 Three Months Ended March 31, 2023 (in millions) U.S. Int’l Total U.S. Int’l Total Established Pharmaceutical Products — Key Emerging Markets $ — $ 928 $ 928 $ — $ 912 $ 912 Other — 298 298 — 277 277 Total — 1,226 1,226 — 1,189 1,189 Nutritionals — Pediatric Nutritionals 514 495 1,009 459 465 924 Adult Nutritionals 364 695 1,059 353 690 1,043 Total 878 1,190 2,068 812 1,155 1,967 Diagnostics — Core Laboratory 310 895 1,205 289 893 1,182 Molecular 42 87 129 47 100 147 Point of Care 98 41 139 93 41 134 Rapid Diagnostics 481 260 741 906 319 1,225 Total 931 1,283 2,214 1,335 1,353 2,688 Medical Devices — Rhythm Management 271 291 562 260 267 527 Electrophysiology 269 318 587 238 267 505 Heart Failure 237 68 305 218 63 281 Vascular 254 435 689 218 399 617 Structural Heart 233 282 515 210 251 461 Neuromodulation 181 45 226 155 41 196 Diabetes Care 589 980 1,569 479 834 1,313 Total 2,034 2,419 4,453 1,778 2,122 3,900 Other 3 — 3 3 — 3 Total $ 3,846 $ 6,118 $ 9,964 $ 3,928 $ 5,819 $ 9,747 Products sold by the Diagnostics segment include various types of diagnostic tests to detect the COVID-19 coronavirus. In the first three months of 2024 and 2023, Abbott’s COVID-19 testing-related sales totaled $204 million and $730 million, respectively. Remaining Performance Obligations As of March 31, 2024, the estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) was approximately $4.5 billion in the Diagnostics segment and approximately $495 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 16 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 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, 2023 $ 545 Unearned revenue from cash received during the period 120 Revenue recognized related to contract liability balance (116) Balance at March 31, 2024 $ 549

Supplemental Financial Informat

Supplemental Financial Information	3 Months Ended
Supplemental Financial Information	Mar. 31, 2024
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 March 31, 2024 and 2023 were $1.220 billion and $1.313 billion, respectively. Other, net in Net cash from operating activities in the Condensed Consolidated Statement of Cash Flows for the first three months of 2024 includes $280 million of pension contributions and the payment of cash taxes of approximately $225 million. The first three months of 2023 includes $282 million of pension contributions and the payment of cash taxes of approximately $122 million. The following summarizes the activity for the first three months of 2024 related to the allowance for doubtful accounts as of March 31, 2024: (in millions) Allowance for Doubtful Accounts: Balance at December 31, 2023 $ 241 Provisions/charges to income 14 Amounts charged off and other adjustments (8) Balance at March 31, 2024 $ 247 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 March 31, 2024 and December 31, 2023 are as follows: (in millions) March 31, December 31, Long-term Investments: Equity securities $ 547 $ 555 Other 271 244 Total $ 818 $ 799 The increase in Abbott’s long-term investments as of March 31, 2024 versus the balance as of December 31, 2023 primarily relates to additional investments and earnings from equity method investments, partially offset by the impairment of certain securities. Abbott’s equity securities as of March 31, 2024, include $317 million of investments in mutual funds that are held in a rabbi trust. 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 March 31, 2024 with a carrying value of $154 million that are accounted for under the equity method of accounting and other equity investments with a carrying value of approximately $66 million that do not have a readily determinable fair value.

Changes In Accumulated Other Co

Changes In Accumulated Other Comprehensive Income (Loss)	3 Months Ended
Changes In Accumulated Other Comprehensive Income (Loss)	Mar. 31, 2024
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 March 31 Cumulative Foreign Net Actuarial (Losses) and Cumulative Gains (Losses) (in millions) 2024 2023 2024 2023 2024 2023 Balance at January 1 $ (6,504) $ (6,733) $ (1,376) $ (1,493) $ 41 $ 175 Other comprehensive income (loss) before reclassifications (386) 139 2 2 68 (42) Amounts reclassified from accumulated other comprehensive income — — 2 — (13) (87) Net current period comprehensive income (loss) (386) 139 4 2 55 (129) Balance at March 31 $ (6,890) $ (6,594) $ (1,372) $ (1,491) $ 96 $ 46 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 Acquisitions

Business Acquisitions	3 Months Ended
Business Acquisitions	Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract]
Business Acquisitions	Note 6 — Business Acquisitions On September 22, 2023, Abbott completed the acquisition of Bigfoot Biomedical, Inc. (Bigfoot), which will further Abbott's efforts to develop connected solutions for making diabetes management more personal and precise. The purchase price, the preliminary allocation of acquired assets and liabilities, and the revenue and net income contributed by Bigfoot since the date of acquisition are not material to Abbott's condensed consolidated financial statements. 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 complementary technologies to Abbott's portfolio of vascular device offerings.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
Goodwill and Intangible Assets	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Note 7 — Goodwill and Intangible Assets The total amount of goodwill reported was $23.4 billion at March 31, 2024 and $23.7 billion at December 31, 2023. Foreign currency translation adjustments decreased goodwill by approximately $294 million in the first three months of 2024. The amount of goodwill related to reportable segments at March 31, 2024 was $2.7 billion for the Established Pharmaceutical Products segment, $285 million for the Nutritional Products segment, $3.5 billion for the Diagnostic Products segment, and $16.9 billion for the Medical Devices segment. There was no reduction of goodwill relating to impairments in the first three months of 2024. The gross amount of amortizable intangible assets, primarily product rights and technology, was $27.5 billion and $27.7 billion as of March 31, 2024 and December 31, 2023, respectively. Accumulated amortization was $20.0 billion and $19.7 billion as of March 31, 2024 and December 31, 2023, respectively. In the first three months of 2024, intangible assets decreased $38 million due to foreign currency translation and $8 million due to an impairment charge. Abbott’s estimated annual amortization expense for intangible assets is approximately $1.9 billion in 2024, $1.7 billion in 2025, $1.6 billion in 2026, $1.3 billion in 2027 and $0.7 billion in 2028.

Restructuring Plans

Restructuring Plans	3 Months Ended
Restructuring Plans	Mar. 31, 2024
Restructuring and Related Activities [Abstract]
Restructuring Plans	Note 8 — Restructuring Plans In 2024, Abbott management approved plans to streamline operations in order to reduce costs and improve efficiencies in its nutritional business, including the discontinuation of its ZonePerfect ® product line, and in its medical devices segment. In the first three months of 2024, Abbott recorded employee related severance and other charges of approximately $17 million, of which approximately $11 million was recorded in Cost of products sold, approximately $1 million was recorded in Research and development and approximately $5 million was recorded in Selling, general and administrative expenses. Payments related to these actions totaled $3 million in the first three months of 2024 and the remaining liabilities totaled $14 million at March 31, 2024. In addition, Abbott recognized asset impairment charges of approximately $30 million related to these restructuring plans. In 2023 and 2022, Abbott management approved plans to restructure or streamline various operations in order to reduce costs in its medical devices, diagnostic, nutritional and established pharmaceutical businesses. The following summarizes the 2024 activity related to these restructuring actions and the status of the related accruals as of March 31, 2024: (in millions) Accrued balance at December 31, 2023 $ 137 Payments and other adjustments (41) Accrued balance at March 31, 2024 $ 96

Incentive Stock Programs

Incentive Stock Programs	3 Months Ended
Incentive Stock Programs	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Incentive Stock Programs	Note 9 — Incentive Stock Programs In the first three months of 2024, Abbott granted 1,666,566 stock options, 404,597 restricted stock awards and 5,189,560 restricted stock units under its incentive stock program. At March 31, 2024, approximately 60 million shares were reserved for future grants. Information regarding the number of options outstanding and exercisable at March 31, 2024 is as follows: Outstanding Exercisable Number of shares 28,281,501 24,296,425 Weighted average remaining life (years) 5.1 4.4 Weighted average exercise price $ 78.71 $ 73.05 Aggregate intrinsic value (in millions) $ 1,031 $ 1,020 The total unrecognized share-based compensation cost at March 31, 2024 amounted to approximately $787 million, which is expected to be recognized over the next three years.

Debt and Lines of Credit

Debt and Lines of Credit	3 Months Ended
Debt and Lines of Credit	Mar. 31, 2024
Debt Disclosure [Abstract]
Debt and Lines of Credit	Note 10 — Debt and Lines of Credit Abbott has readily available financial resources, including unused lines of credit that support commercial paper borrowing arrangements and provide Abbott with the ability to borrow up to $5 billion on an unsecured basis. On January 29, 2024, Abbott terminated its 2020 Five Year Credit Agreement (2020 Agreement) and entered into a new Five Year Credit Agreement (Revolving Credit Agreement). There were no outstanding borrowings under the 2020 Agreement at the time of its termination. Any borrowings under the Revolving Credit Agreement will mature and be payable on January 29, 2029 and will bear interest, at Abbott’s option, based on either a base rate or Secured Overnight Financing Rate (SOFR), plus an applicable margin based on Abbott’s credit ratings.

Financial Instruments, Derivati

Financial Instruments, Derivatives and Fair Value Measures	3 Months Ended
Financial Instruments, Derivatives and Fair Value Measures	Mar. 31, 2024
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 $7.3 billion at March 31, 2024 and at December 31, 2023, 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 March 31, 2024 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 March 31, 2024 and December 31, 2023, Abbott held gross notional amounts of $14.5 billion and $13.8 billion, respectively, of such foreign currency forward exchange contracts. Abbott has designated a yen-denominated, 5-year term loan, scheduled to mature in November 2024, of approximately $395 million and $419 million as of March 31, 2024 and December 31, 2023, 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 totaling approximately $2.2 billion at March 31, 2024 and December 31, 2023 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 financial instruments as of March 31, 2024 and December 31, 2023: Fair Value - Assets Fair Value - Liabilities (in millions) March 31, December 31, Balance Sheet Caption March 31, December 31, Balance Sheet Caption Interest rate swaps designated as fair value hedges: Non-current $ — $ — Deferred income taxes and other assets $ 88 $ 95 Post-employment obligations, deferred income taxes and other long-term liabilities Current — — Prepaid expenses and other receivables 31 — Other accrued liabilities Foreign currency forward exchange contracts: Hedging instruments 118 88 Prepaid expenses and other receivables 61 134 Other accrued liabilities Others not designated as hedges 52 81 Prepaid expenses and other receivables 39 97 Other accrued liabilities Debt designated as a hedge of net investment in a foreign subsidiary — — n/a 395 419 Current portion of long-term debt $ 170 $ 169 $ 614 $ 745 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 months ended March 31, 2024 and 2023. Gain (loss) Recognized in Other Comprehensive Income (loss) Income (expense) and Three Months Three Months (in millions) 2024 2023 2024 2023 Income Statement Caption Foreign currency forward exchange contracts designated as cash flow hedges $ 127 $ (63) $ 18 $ 126 Cost of products sold Debt designated as a hedge of net investment in a foreign subsidiary 24 (5) — — n/a Interest rate swaps designated as fair value hedges n/a n/a (24) 9 Interest expense Gains of $92 million and losses of $103 million were recognized in the three months ended March 31, 2024 and 2023, 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 March 31, 2024 and December 31, 2023 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. March 31, 2024 December 31, 2023 (in millions) Carrying Fair Carrying Fair Long-term Investment Securities: Equity securities $ 547 $ 547 $ 555 $ 555 Other 271 271 244 244 Total Long-term Debt (14,586) (14,299) (14,679) (14,769) Foreign Currency Forward Exchange Contracts: Receivable position 170 170 169 169 (Payable) position (100) (100) (231) (231) Interest Rate Hedge Contracts: (Payable) position (119) (119) (95) (95) 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 March 31, 2024: Equity securities $ 327 $ 327 $ — $ — Foreign currency forward exchange contracts 170 — 170 — Total Assets $ 497 $ 327 $ 170 $ — Fair value of hedged long-term debt $ 2,046 $ — $ 2,046 $ — Interest rate swap derivative financial instruments 119 — 119 — Foreign currency forward exchange contracts 100 — 100 — Contingent consideration related to business combinations 59 — — 59 Total Liabilities $ 2,324 $ — $ 2,265 $ 59 December 31, 2023: Equity securities $ 326 $ 326 $ — $ — Foreign currency forward exchange contracts 169 — 169 — Total Assets $ 495 $ 326 $ 169 $ — Fair value of hedged long-term debt $ 2,052 $ — $ 2,052 $ — Interest rate swap derivative financial instruments 95 — 95 — Foreign currency forward exchange contracts 231 — 231 — Contingent consideration related to business combinations 112 — — 112 Total Liabilities $ 2,490 $ — $ 2,378 $ 112 The fair value of foreign currency forward exchange contracts is determined using a market approach, which utilizes values for comparable derivative instruments. The fair value of debt was determined based on the face value of the debt adjusted for the fair value of the interest rate swaps, which is based on a discounted cash flow analysis using significant other observable inputs. The fair value of the contingent consideration was determined based on independent appraisals at the time of acquisition, adjusted for the time value of money and other changes in fair value. The decrease in the amount of contingent consideration from December 31, 2023 reflects a payment of $40 million and a $13 million change in the fair value of the remaining contingent consideration. The maximum amount for certain contingent consideration is not determinable as it is based on a percent of certain sales. Excluding such contingent consideration, the maximum amount that may be due under the other contingent consideration arrangements was estimated at March 31, 2024 to be approximately $135 million, which is dependent upon attaining certain sales thresholds or upon the occurrence of certain events, such as regulatory approvals.

Litigation and Environmental Ma

Litigation and Environmental Matters	3 Months Ended
Litigation and Environmental Matters	Mar. 31, 2024
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 $45 million to $60 million. The recorded accrual balance at March 31, 2024 for these proceedings and exposures was approximately $55 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	3 Months Ended
Post-Employment Benefits	Mar. 31, 2024
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 months ended March 31 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 Three Months (in millions) 2024 2023 2024 2023 Service cost - benefits earned during the period $ 61 $ 60 $ 10 $ 9 Interest cost on projected benefit obligations 118 114 15 14 Expected return on plan assets (262) (242) (6) (6) Net amortization of: Actuarial loss, net 6 3 — — Prior service cost (credit) — — (3) (3) Net cost (credit) $ (77) $ (65) $ 16 $ 14

Taxes on Earnings

Taxes on Earnings	3 Months Ended
Taxes on Earnings	Mar. 31, 2024
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 three months of 2024 and 2023, taxes on earnings include approximately $25 million and $3 million, respectively, in excess tax benefits associated with share-based compensation. In the first three months of 2024 and 2023, taxes on earnings also include approximately $10 million and $22 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 $82 million to $1.34 billion, including cash adjustments, within the next twelve months as a result of concluding various domestic and international tax matters. In September 2023, Abbott received a Statutory Notice of Deficiency (SNOD) from the U.S. Internal Revenue Service (IRS) for the 2019 Federal tax year in the amount of $417 million. The primary adjustments proposed in the SNOD relate to the reallocation of income between Abbott’s U.S. entities and its foreign affiliates. Abbott believes that the income reallocation adjustments proposed in the SNOD are without merit, in part because certain adjustments contradict methods that were agreed to with the IRS in prior audit periods. The SNOD also contains other proposed adjustments that Abbott believes are erroneous and unsupported. Abbott filed a petition with the U.S. Tax Court contesting the SNOD in December 2023. Abbott’s 2017 and 2018 Federal tax years are also currently under examination by the IRS with respect to income reallocation issues similar to those included in the 2019 Federal tax year. Abbott intends to vigorously defend its filing positions through ongoing discussions with the IRS, the IRS independent appeals process and/or through litigation as necessary. Abbott reserves for uncertain tax positions related to unresolved matters with the IRS and other taxing authorities. Abbott continues to believe that its reserves for uncertain tax positions are appropriate. The Organization for Economic Cooperation & Development (OECD) has proposed a two-pillared plan for a revised international tax system. Pillar 1 proposes to reallocate taxing rights among the jurisdictions in which in-scope multinational corporations operate. Abbott is continuing to analyze the Pillar 1 proposal. Pillar 2 proposes to assess a 15 percent minimum tax on the earnings of in-scope multinational corporations on a country-by-country basis. Numerous countries have enacted legislation to adopt the Pillar 2 model rules. A subset of the rules became effective January 1, 2024, and the remaining rules become effective January 1, 2025 or later. Abbott continues to analyze the Pillar 2 model rules. The full implementation of the model rules may have a material impact on Abbott’s condensed consolidated financial statements in the future.

Segment Information

Segment Information	3 Months Ended
Segment Information	Mar. 31, 2024
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 businesses 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 condensed consolidated financial statements. Net Sales to External Customers Operating Earnings Three Months Three Months (in millions) 2024 2023 2024 2023 Established Pharmaceutical Products $ 1,226 $ 1,189 $ 267 $ 300 Nutritional Products 2,068 1,967 377 380 Diagnostic Products 2,214 2,688 474 651 Medical Devices 4,453 3,900 1,360 1,078 Total Reportable Segments 9,961 9,744 2,478 2,409 Other 3 3 Net sales $ 9,964 $ 9,747 Corporate functions and benefit plan costs (66) (77) Net interest expense (61) (52) Share-based compensation (a) (304) (281) Amortization of intangible assets (472) (491) Other, net (b) (139) 54 Earnings before taxes $ 1,436 $ 1,562 ______________________________________ (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 months ended March 31, 2024 and March 31, 2023 includes charges related to restructuring actions. Other, net for the three months ended March 31, 2024 also includes integration costs associated with the acquisition of CSI and $38 million related to various investment impairments.

New Accounting Standards (Polic

New Accounting Standards (Policies)	3 Months Ended
New Accounting Standards (Policies)	Mar. 31, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recent Accounting Standards Not Yet Adopted	Recent Accounting Standards Not Yet Adopted In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which expands the breadth and frequency of required segment disclosures. The guidance is required to be applied retrospectively to all periods presented in the financial statements. The standard becomes effective for Abbott for full year 2024 reporting and for interim periods beginning in the first quarter of 2025. Abbott is currently evaluating the impact of this new standard on its consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which requires an entity to disclose annually additional information related to the company's income tax rate reconciliation and income taxes paid during the period. The guidance should be applied prospectively with the option to apply the standard retrospectively. The standard becomes effective for Abbott for full year 2025 reporting. Abbott is currently evaluating the impact of this new standard on its consolidated financial statements.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
Revenue (Tables)	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Summary of Revenue by Sales Category	The following tables provide detail by sales category: Three Months Ended March 31, 2024 Three Months Ended March 31, 2023 (in millions) U.S. Int’l Total U.S. Int’l Total Established Pharmaceutical Products — Key Emerging Markets $ — $ 928 $ 928 $ — $ 912 $ 912 Other — 298 298 — 277 277 Total — 1,226 1,226 — 1,189 1,189 Nutritionals — Pediatric Nutritionals 514 495 1,009 459 465 924 Adult Nutritionals 364 695 1,059 353 690 1,043 Total 878 1,190 2,068 812 1,155 1,967 Diagnostics — Core Laboratory 310 895 1,205 289 893 1,182 Molecular 42 87 129 47 100 147 Point of Care 98 41 139 93 41 134 Rapid Diagnostics 481 260 741 906 319 1,225 Total 931 1,283 2,214 1,335 1,353 2,688 Medical Devices — Rhythm Management 271 291 562 260 267 527 Electrophysiology 269 318 587 238 267 505 Heart Failure 237 68 305 218 63 281 Vascular 254 435 689 218 399 617 Structural Heart 233 282 515 210 251 461 Neuromodulation 181 45 226 155 41 196 Diabetes Care 589 980 1,569 479 834 1,313 Total 2,034 2,419 4,453 1,778 2,122 3,900 Other 3 — 3 3 — 3 Total $ 3,846 $ 6,118 $ 9,964 $ 3,928 $ 5,819 $ 9,747
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, 2023 $ 545 Unearned revenue from cash received during the period 120 Revenue recognized related to contract liability balance (116) Balance at March 31, 2024 $ 549

Supplemental Financial Inform_2

Supplemental Financial Information (Tables)	3 Months Ended
Supplemental Financial Information (Tables)	Mar. 31, 2024
Disclosure Text Block Supplement [Abstract]
Summary of Allowance for Doubtful Accounts Activity	The following summarizes the activity for the first three months of 2024 related to the allowance for doubtful accounts as of March 31, 2024: (in millions) Allowance for Doubtful Accounts: Balance at December 31, 2023 $ 241 Provisions/charges to income 14 Amounts charged off and other adjustments (8) Balance at March 31, 2024 $ 247
Schedule of Long-Term Investments	The components of long-term investments as of March 31, 2024 and December 31, 2023 are as follows: (in millions) March 31, December 31, Long-term Investments: Equity securities $ 547 $ 555 Other 271 244 Total $ 818 $ 799

Changes In Accumulated Other _2

Changes In Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2024
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 March 31 Cumulative Foreign Net Actuarial (Losses) and Cumulative Gains (Losses) (in millions) 2024 2023 2024 2023 2024 2023 Balance at January 1 $ (6,504) $ (6,733) $ (1,376) $ (1,493) $ 41 $ 175 Other comprehensive income (loss) before reclassifications (386) 139 2 2 68 (42) Amounts reclassified from accumulated other comprehensive income — — 2 — (13) (87) Net current period comprehensive income (loss) (386) 139 4 2 55 (129) Balance at March 31 $ (6,890) $ (6,594) $ (1,372) $ (1,491) $ 96 $ 46

Restructuring Plans (Tables)

Restructuring Plans (Tables)	3 Months Ended
Restructuring Plans (Tables)	Mar. 31, 2024
Restructuring and Related Activities [Abstract]
Summary of Restructuring Activity	The following summarizes the 2024 activity related to these restructuring actions and the status of the related accruals as of March 31, 2024: (in millions) Accrued balance at December 31, 2023 $ 137 Payments and other adjustments (41) Accrued balance at March 31, 2024 $ 96

Incentive Stock Programs (Table

Incentive Stock Programs (Tables)	3 Months Ended
Incentive Stock Programs (Tables)	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Summary of Options Outstanding and Exercisable	Information regarding the number of options outstanding and exercisable at March 31, 2024 is as follows: Outstanding Exercisable Number of shares 28,281,501 24,296,425 Weighted average remaining life (years) 5.1 4.4 Weighted average exercise price $ 78.71 $ 73.05 Aggregate intrinsic value (in millions) $ 1,031 $ 1,020

Financial Instruments, Deriva_2

Financial Instruments, Derivatives and Fair Value Measures (Tables)	3 Months Ended
	Mar. 31, 2024
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 financial instruments as of March 31, 2024 and December 31, 2023: Fair Value - Assets Fair Value - Liabilities (in millions) March 31, December 31, Balance Sheet Caption March 31, December 31, Balance Sheet Caption Interest rate swaps designated as fair value hedges: Non-current $ — $ — Deferred income taxes and other assets $ 88 $ 95 Post-employment obligations, deferred income taxes and other long-term liabilities Current — — Prepaid expenses and other receivables 31 — Other accrued liabilities Foreign currency forward exchange contracts: Hedging instruments 118 88 Prepaid expenses and other receivables 61 134 Other accrued liabilities Others not designated as hedges 52 81 Prepaid expenses and other receivables 39 97 Other accrued liabilities Debt designated as a hedge of net investment in a foreign subsidiary — — n/a 395 419 Current portion of long-term debt $ 170 $ 169 $ 614 $ 745
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 months ended March 31, 2024 and 2023. Gain (loss) Recognized in Other Comprehensive Income (loss) Income (expense) and Three Months Three Months (in millions) 2024 2023 2024 2023 Income Statement Caption Foreign currency forward exchange contracts designated as cash flow hedges $ 127 $ (63) $ 18 $ 126 Cost of products sold Debt designated as a hedge of net investment in a foreign subsidiary 24 (5) — — n/a Interest rate swaps designated as fair value hedges n/a n/a (24) 9 Interest expense
Schedule of Carrying Values and Fair Values of Financial Instruments	The carrying values and fair values of certain financial instruments as of March 31, 2024 and December 31, 2023 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. March 31, 2024 December 31, 2023 (in millions) Carrying Fair Carrying Fair Long-term Investment Securities: Equity securities $ 547 $ 547 $ 555 $ 555 Other 271 271 244 244 Total Long-term Debt (14,586) (14,299) (14,679) (14,769) Foreign Currency Forward Exchange Contracts: Receivable position 170 170 169 169 (Payable) position (100) (100) (231) (231) Interest Rate Hedge Contracts: (Payable) position (119) (119) (95) (95)
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 March 31, 2024: Equity securities $ 327 $ 327 $ — $ — Foreign currency forward exchange contracts 170 — 170 — Total Assets $ 497 $ 327 $ 170 $ — Fair value of hedged long-term debt $ 2,046 $ — $ 2,046 $ — Interest rate swap derivative financial instruments 119 — 119 — Foreign currency forward exchange contracts 100 — 100 — Contingent consideration related to business combinations 59 — — 59 Total Liabilities $ 2,324 $ — $ 2,265 $ 59 December 31, 2023: Equity securities $ 326 $ 326 $ — $ — Foreign currency forward exchange contracts 169 — 169 — Total Assets $ 495 $ 326 $ 169 $ — Fair value of hedged long-term debt $ 2,052 $ — $ 2,052 $ — Interest rate swap derivative financial instruments 95 — 95 — Foreign currency forward exchange contracts 231 — 231 — Contingent consideration related to business combinations 112 — — 112 Total Liabilities $ 2,490 $ — $ 2,378 $ 112

Post-Employment Benefits (Table

Post-Employment Benefits (Tables)	3 Months Ended
Post-Employment Benefits (Tables)	Mar. 31, 2024
Postemployment Benefits [Abstract]
Schedule of Net Periodic Cost	Net cost recognized for the three months ended March 31 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 Three Months (in millions) 2024 2023 2024 2023 Service cost - benefits earned during the period $ 61 $ 60 $ 10 $ 9 Interest cost on projected benefit obligations 118 114 15 14 Expected return on plan assets (262) (242) (6) (6) Net amortization of: Actuarial loss, net 6 3 — — Prior service cost (credit) — — (3) (3) Net cost (credit) $ (77) $ (65) $ 16 $ 14

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
Segment Information (Tables)	Mar. 31, 2024
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 condensed consolidated financial statements. Net Sales to External Customers Operating Earnings Three Months Three Months (in millions) 2024 2023 2024 2023 Established Pharmaceutical Products $ 1,226 $ 1,189 $ 267 $ 300 Nutritional Products 2,068 1,967 377 380 Diagnostic Products 2,214 2,688 474 651 Medical Devices 4,453 3,900 1,360 1,078 Total Reportable Segments 9,961 9,744 2,478 2,409 Other 3 3 Net sales $ 9,964 $ 9,747 Corporate functions and benefit plan costs (66) (77) Net interest expense (61) (52) Share-based compensation (a) (304) (281) Amortization of intangible assets (472) (491) Other, net (b) (139) 54 Earnings before taxes $ 1,436 $ 1,562 ______________________________________ (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 months ended March 31, 2024 and March 31, 2023 includes charges related to restructuring actions. Other, net for the three months ended March 31, 2024 also includes integration costs associated with the acquisition of CSI and $38 million related to various investment impairments.

Revenue - Narrative (Details)

Revenue - Narrative (Details) $ in Millions	3 Months Ended
Revenue - Narrative (Details) $ in Millions	Mar. 31, 2024 USD ($) segment	Mar. 31, 2023 USD ($) segment
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Number of reportable segments \| segment	4	4
Sales	$ 9,964	$ 9,747
Diagnostics
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	4,500
Diagnostics \| COVID-19 Testing
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Sales	204	$ 730
Medical Devices
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 495
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
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
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percentage of remaining performance obligation expected to be recognized in period	16%
Expected timing of satisfaction period (in months)	12 months

Revenue - Summary of Revenue by

Revenue - Summary of Revenue by Sales Category (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Net sales	$ 9,964	$ 9,747
Operating Segments
Segment Reporting Information [Line Items]
Net sales	9,961	9,744
Other
Segment Reporting Information [Line Items]
Net sales	3	3
U.S.
Segment Reporting Information [Line Items]
Net sales	3,846	3,928
U.S. \| Other
Segment Reporting Information [Line Items]
Net sales	3	3
Int’l
Segment Reporting Information [Line Items]
Net sales	6,118	5,819
Int’l \| Other
Segment Reporting Information [Line Items]
Net sales	0	0
Established Pharmaceutical Products \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	1,226	1,189
Established Pharmaceutical Products \| U.S. \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	0	0
Established Pharmaceutical Products \| Int’l \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	1,226	1,189
Nutritionals \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	2,068	1,967
Nutritionals \| U.S. \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	878	812
Nutritionals \| Int’l \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	1,190	1,155
Diagnostics \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	2,214	2,688
Diagnostics \| U.S. \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	931	1,335
Diagnostics \| Int’l \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	1,283	1,353
Medical Devices \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	4,453	3,900
Medical Devices \| U.S. \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	2,034	1,778
Medical Devices \| Int’l \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	2,419	2,122
Key Emerging Markets \| Established Pharmaceutical Products \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	928	912
Key Emerging Markets \| Established Pharmaceutical Products \| U.S. \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	0	0
Key Emerging Markets \| Established Pharmaceutical Products \| Int’l \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	928	912
Other \| Established Pharmaceutical Products \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	298	277
Other \| Established Pharmaceutical Products \| U.S. \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	0	0
Other \| Established Pharmaceutical Products \| Int’l \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	298	277
Pediatric Nutritionals \| Nutritionals \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	1,009	924
Pediatric Nutritionals \| Nutritionals \| U.S. \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	514	459
Pediatric Nutritionals \| Nutritionals \| Int’l \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	495	465
Adult Nutritionals \| Nutritionals \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	1,059	1,043
Adult Nutritionals \| Nutritionals \| U.S. \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	364	353
Adult Nutritionals \| Nutritionals \| Int’l \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	695	690
Core Laboratory \| Diagnostics \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	1,205	1,182
Core Laboratory \| Diagnostics \| U.S. \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	310	289
Core Laboratory \| Diagnostics \| Int’l \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	895	893
Molecular \| Diagnostics \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	129	147
Molecular \| Diagnostics \| U.S. \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	42	47
Molecular \| Diagnostics \| Int’l \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	87	100
Point of Care \| Diagnostics \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	139	134
Point of Care \| Diagnostics \| U.S. \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	98	93
Point of Care \| Diagnostics \| Int’l \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	41	41
Rapid Diagnostics \| Diagnostics \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	741	1,225
Rapid Diagnostics \| Diagnostics \| U.S. \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	481	906
Rapid Diagnostics \| Diagnostics \| Int’l \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	260	319
Rhythm Management \| Medical Devices \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	562	527
Rhythm Management \| Medical Devices \| U.S. \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	271	260
Rhythm Management \| Medical Devices \| Int’l \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	291	267
Electrophysiology \| Medical Devices \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	587	505
Electrophysiology \| Medical Devices \| U.S. \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	269	238
Electrophysiology \| Medical Devices \| Int’l \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	318	267
Heart Failure \| Medical Devices \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	305	281
Heart Failure \| Medical Devices \| U.S. \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	237	218
Heart Failure \| Medical Devices \| Int’l \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	68	63
Vascular \| Medical Devices \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	689	617
Vascular \| Medical Devices \| U.S. \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	254	218
Vascular \| Medical Devices \| Int’l \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	435	399
Structural Heart \| Medical Devices \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	515	461
Structural Heart \| Medical Devices \| U.S. \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	233	210
Structural Heart \| Medical Devices \| Int’l \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	282	251
Neuromodulation \| Medical Devices \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	226	196
Neuromodulation \| Medical Devices \| U.S. \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	181	155
Neuromodulation \| Medical Devices \| Int’l \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	45	41
Diabetes Care \| Medical Devices \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	1,569	1,313
Diabetes Care \| Medical Devices \| U.S. \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	589	479
Diabetes Care \| Medical Devices \| Int’l \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	$ 980	$ 834

Revenue - Schedule of Changes i

Revenue - Schedule of Changes in Contract Liabilities (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
Contract Liabilities:
Beginning balance	$ 545
Unearned revenue from cash received during the period	120
Revenue recognized related to contract liability balance	(116)
Ending balance	$ 549

Supplemental Financial Inform_3

Supplemental Financial Information - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Condensed Cash Flow Statements, Captions [Line Items]
Net earnings allocated to common shares	$ 1,220	$ 1,313
Payment of cash taxes	225	122
Equity method investments carrying value	154
Equity investments without readily determinable fair value	66
St. Jude Medical
Condensed Cash Flow Statements, Captions [Line Items]
Investments in mutual funds held in a rabbi trust	317
Defined Benefit Plans
Condensed Cash Flow Statements, Captions [Line Items]
Pension contributions	$ 280	$ 282

Supplemental Financial Inform_4

Supplemental Financial Information - Allowance for Doubtful Accounts (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
Allowance for Doubtful Accounts:
Beginning balance	$ 241
Provisions/charges to income	14
Amounts charged off and other adjustments	(8)
Ending balance	$ 247

Supplemental Financial Inform_5

Supplemental Financial Information - Long-Term Investments (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Summary of Investment Holdings [Line Items]
Total	$ 818	$ 799
Equity securities
Summary of Investment Holdings [Line Items]
Total	547	555
Other
Summary of Investment Holdings [Line Items]
Total	$ 271	$ 244

Changes In Accumulated Other _3

Changes In Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Changes in accumulated other comprehensive income (loss), net of income taxes
Beginning of the period	$ 38,603
Other comprehensive income (loss)	(327)	$ 12
End of the period	38,810
Cumulative Foreign Currency Translation (Loss) Adjustments
Changes in accumulated other comprehensive income (loss), net of income taxes
Beginning of the period	(6,504)	(6,733)
Other comprehensive income (loss) before reclassifications	(386)	139
Amounts reclassified from accumulated other comprehensive income	0	0
Other comprehensive income (loss)	(386)	139
End of the period	(6,890)	(6,594)
Net Actuarial (Losses) and Prior Service (Costs) and Credits
Changes in accumulated other comprehensive income (loss), net of income taxes
Beginning of the period	(1,376)	(1,493)
Other comprehensive income (loss) before reclassifications	2	2
Amounts reclassified from accumulated other comprehensive income	2	0
Other comprehensive income (loss)	4	2
End of the period	(1,372)	(1,491)
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	41	175
Other comprehensive income (loss) before reclassifications	68	(42)
Amounts reclassified from accumulated other comprehensive income	(13)	(87)
Other comprehensive income (loss)	55	(129)
End of the period	$ 96	$ 46

Business Acquisitions (Details)

Business Acquisitions (Details) $ / shares in Units, $ in Millions	Apr. 27, 2023 USD ($) intangibleAsset $ / shares	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Business Acquisition [Line Items]
Goodwill		$ 23,383	$ 23,679
CSI
Business Acquisition [Line Items]
Acquisition share price (in dollars per share) \| $ / shares	$ 20
Acquisition purchase price	$ 851
Number of developed technology intangible assets \| intangibleAsset	2
Developed technology intangible assets	$ 305
In-process research and development	15
Goodwill	369
Net deferred tax assets	46
Other net assets	$ 116

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Goodwill and Intangible Assets [Line Items]
Goodwill	$ 23,383	$ 23,679
Decrease in goodwill due to foreign currency translation adjustments	294
Amount of reductions of goodwill relating to impairments	0
Gross amount of amortizable intangible assets	27,500	27,700
Accumulated amortization of intangible assets	20,000	19,700
Decrease in intangible assets due to foreign currency translation adjustments	38
Impairment charge	8
Estimated annual amortization expense, intangible assets, remainder of year	1,900
Estimated annual amortization expense, intangible assets, year one	1,700
Estimated annual amortization expense, intangible assets, year two	1,600
Estimated annual amortization expense, intangible assets, year three	1,300
Estimated annual amortization expense, intangible assets, year four	700
Indefinite-lived intangible assets related to in-process R&D acquired in a business combination	787	$ 787
Established Pharmaceutical Products
Goodwill and Intangible Assets [Line Items]
Goodwill	2,700
Nutritionals
Goodwill and Intangible Assets [Line Items]
Goodwill	285
Diagnostics
Goodwill and Intangible Assets [Line Items]
Goodwill	3,500
Medical Devices
Goodwill and Intangible Assets [Line Items]
Goodwill	$ 16,900

Restructuring Plans - Narrative

Restructuring Plans - Narrative (Details) - 2024 Restructuring Plan $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
Restructuring Cost and Reserve [Line Items]
Employee related severance and other charges	$ 17
Payments for restructuring	3
Remaining liabilities	14
Asset impairment charges	30
Cost of products sold
Restructuring Cost and Reserve [Line Items]
Employee related severance and other charges	11
Research and development
Restructuring Cost and Reserve [Line Items]
Employee related severance and other charges	1
Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Employee related severance and other charges	$ 5

Restructuring Plans - Restructu

Restructuring Plans - Restructuring Activity (Details) - 2022 and 2023 Restructuring Plan $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
Restructuring Reserve [Roll Forward]
Accrued balance at beginning of the period	$ 137
Payments and other adjustments	(41)
Accrued balance at end of the period	$ 96

Incentive Stock Programs - Narr

Incentive Stock Programs - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($) shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Incentive stock program, shares reserved for future grants (in shares)	60,000,000
Total unrecognized compensation cost \| $	$ 787
Total unrecognized compensation cost, expected period for recognition	3 years
Stock Options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options granted (in shares)	1,666,566
Restricted Stock Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Restricted stock awards granted (in shares)	404,597
Restricted Stock Units (RSUs)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Restricted stock units granted (in shares)	5,189,560

Incentive Stock Programs - Opti

Incentive Stock Programs - Options (Details) - Stock Options $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($) $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Outstanding, number of shares (in shares) \| shares	28,281,501
Exercisable, number of shares (in shares) \| shares	24,296,425
Outstanding, weighted-average remaining life	5 years 1 month 6 days
Exercisable, weighted-average remaining life	4 years 4 months 24 days
Outstanding, weighted-average exercise price (in dollars per share) \| $ / shares	$ 78.71
Exercisable, weighted-average exercise price (in dollars per share) \| $ / shares	$ 73.05
Outstanding, aggregate intrinsic value \| $	$ 1,031
Exercisable, aggregate intrinsic value \| $	$ 1,020

Debt and Lines of Credit (Detai

Debt and Lines of Credit (Details) - USD ($) $ in Millions	Jan. 29, 2024	Nov. 12, 2020	Mar. 31, 2024
Line of Credit \| 2020 Five Year Credit Agreement
Debt Instrument [Line Items]
Debt instrument, term		5 years
Outstanding borrowings	$ 0
Revolving Credit Facility \| 2024 Five Year Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 5,000
Debt instrument, term	5 years

Financial Instruments, Deriva_3

Financial Instruments, Derivatives and Fair Value Measures - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Derivative [Line Items]
Yen-denominated term loan	$ 614		$ 745
Gain (loss) from foreign currency forward exchange contracts not designated as hedges	92	$ (103)
Payment for contingent consideration	40
Change in fair value of remaining contingent consideration	13
Various Business Acquisitions
Derivative [Line Items]
Maximum amount of contingent consideration	$ 135
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	$ 395		$ 419
Foreign Currency Forward Exchange Contracts \| Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative, notional amount	14,500		13,800
Foreign Currency Forward Exchange Contracts \| Cash Flow Hedging \| Designated as Hedging Instrument
Derivative [Line Items]
Derivative, notional amount	$ 7,300		7,300
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 Hedge Contracts \| Fair Value Hedging \| Designated as Hedging Instrument
Derivative [Line Items]
Derivative, notional amount	$ 2,200		$ 2,200

Financial Instruments, Deriva_4

Financial Instruments, Derivatives and Fair Value Measures - Amounts and Location of Derivative Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Fair Value - Assets	$ 170	$ 169
Fair Value - Liabilities	614	745
Designated as Hedging Instrument \| Interest Rate Swaps \| 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 Swaps \| 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 Swaps \| Post-employment obligations, deferred income taxes and other long-term liabilities \| Fair Value Hedging
Derivatives, Fair Value [Line Items]
Fair Value - Liabilities	88	95
Designated as Hedging Instrument \| Interest Rate Swaps \| Other accrued liabilities \| Fair Value Hedging
Derivatives, Fair Value [Line Items]
Fair Value - Liabilities	31	0
Designated as Hedging Instrument \| Foreign Currency Forward Exchange Contracts \| Prepaid expenses and other receivables
Derivatives, Fair Value [Line Items]
Fair Value - Assets	118	88
Designated as Hedging Instrument \| Foreign Currency Forward Exchange Contracts \| Other accrued liabilities
Derivatives, Fair Value [Line Items]
Fair Value - Liabilities	61	134
Designated as Hedging Instrument \| Debt \| Current portion of long-term debt \| Net Investment Hedging
Derivatives, Fair Value [Line Items]
Fair Value - Liabilities	395	419
Not Designated as Hedging Instrument \| Foreign Currency Forward Exchange Contracts \| Prepaid expenses and other receivables
Derivatives, Fair Value [Line Items]
Fair Value - Assets	52	81
Not Designated as Hedging Instrument \| Foreign Currency Forward Exchange Contracts \| Other accrued liabilities
Derivatives, Fair Value [Line Items]
Fair Value - Liabilities	$ 39	$ 97

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
	Mar. 31, 2024	Mar. 31, 2023
Foreign Currency Forward Exchange Contracts \| 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	$ 127	$ (63)
Income (expense) and gain (loss) reclassified into income, foreign currency forward exchange contracts designated as cash flow hedges	18	126
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	24	(5)
Interest Rate Swaps \| Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Income (expense) and gain (loss) reclassified into income, interest rate swaps designated as fair value hedges	$ (24)	$ 9

Financial Instruments, Deriva_6

Financial Instruments, Derivatives and Fair Value Measures - Carrying Value and Fair Value (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Derivative [Line Items]
Long-term Investment Securities:	$ 818	$ 799
Receivable position	170	169
(Payable) position	(614)	(745)
Equity securities
Derivative [Line Items]
Long-term Investment Securities:	547	555
Carrying Value
Derivative [Line Items]
Total Long-term Debt	(14,586)	(14,679)
Carrying Value \| Foreign Currency Forward Exchange Contracts
Derivative [Line Items]
Receivable position	170	169
(Payable) position	(100)	(231)
Carrying Value \| Interest Rate Hedge Contracts
Derivative [Line Items]
(Payable) position	(119)	(95)
Carrying Value \| Equity securities
Derivative [Line Items]
Long-term Investment Securities:	547	555
Carrying Value \| Other
Derivative [Line Items]
Long-term Investment Securities:	271	244
Fair Value
Derivative [Line Items]
Total Long-term Debt	(14,299)	(14,769)
Fair Value \| Foreign Currency Forward Exchange Contracts
Derivative [Line Items]
Receivable position	170	169
(Payable) position	(100)	(231)
Fair Value \| Interest Rate Hedge Contracts
Derivative [Line Items]
(Payable) position	(119)	(95)
Fair Value \| Equity securities
Derivative [Line Items]
Long-term Investment Securities:	547	555
Fair Value \| Other
Derivative [Line Items]
Long-term Investment Securities:	$ 271	$ 244

Financial Instruments, Deriva_7

Financial Instruments, Derivatives and Fair Value Measures - Bases of Measurement (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Quoted Prices in Active Markets
Assets, at Fair Value
Equity securities	$ 327	$ 326
Foreign currency forward exchange contracts	0	0
Total Assets	327	326
Liabilities, at Fair Value
Fair value of hedged long-term debt	0	0
Interest rate swap derivative financial instruments	0	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	170	169
Total Assets	170	169
Liabilities, at Fair Value
Fair value of hedged long-term debt	2,046	2,052
Interest rate swap derivative financial instruments	119	95
Foreign currency forward exchange contracts	100	231
Contingent consideration related to business combinations	0	0
Total Liabilities	2,265	2,378
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	0
Foreign currency forward exchange contracts	0	0
Contingent consideration related to business combinations	59	112
Total Liabilities	59	112
Outstanding Balances
Assets, at Fair Value
Equity securities	327	326
Foreign currency forward exchange contracts	170	169
Total Assets	497	495
Liabilities, at Fair Value
Fair value of hedged long-term debt	2,046	2,052
Interest rate swap derivative financial instruments	119	95
Foreign currency forward exchange contracts	100	231
Contingent consideration related to business combinations	59	112
Total Liabilities	$ 2,324	$ 2,490

Litigation and Environmental _2

Litigation and Environmental Matters (Details) $ in Millions	Mar. 31, 2024 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	55
Legal proceedings and environmental exposures \| Minimum
Loss Contingencies [Line Items]
Estimation of possible loss	45
Legal proceedings and environmental exposures \| Maximum
Loss Contingencies [Line Items]
Estimation of possible loss	$ 60

Post-Employment Benefits - Sche

Post-Employment Benefits - Schedule of Net Periodic Cost (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Defined Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost - benefits earned during the period	$ 61	$ 60
Interest cost on projected benefit obligations	118	114
Expected return on plan assets	(262)	(242)
Net amortization of:
Actuarial loss, net	6	3
Prior service cost (credit)	0	0
Net cost (credit)	(77)	(65)
Medical and Dental Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost - benefits earned during the period	10	9
Interest cost on projected benefit obligations	15	14
Expected return on plan assets	(6)	(6)
Net amortization of:
Actuarial loss, net	0	0
Prior service cost (credit)	(3)	(3)
Net cost (credit)	$ 16	$ 14

Post-Employment Benefits - Narr

Post-Employment Benefits - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Defined Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Company contributions	$ 280	$ 282
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	3 Months Ended
Taxes on Earnings (Details) - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Excess tax benefits associated with share-based compensation	$ 25	$ 3
Tax expense from prior year tax positions	10	$ 22
Decrease reasonably possible in gross unrecognized tax benefits	82
Gross unrecognized tax benefits	$ 1,340
Income tax claim related to statutory notice of deficiency			$ 417

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Millions	3 Months Ended
Segment Information (Details) - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Net Sales to External Customers	$ 9,964	$ 9,747
Operating Earnings	1,386	1,509
Amortization of intangible assets	(472)	(491)
Earnings before taxes	$ 1,436	$ 1,562
Annual share-based awards recognized in first quarter (as a percent)	45%	45%
Operating Segments
Segment Reporting Information [Line Items]
Net Sales to External Customers	$ 9,961	$ 9,744
Operating Earnings	2,478	2,409
Operating Segments \| Established Pharmaceutical Products
Segment Reporting Information [Line Items]
Net Sales to External Customers	1,226	1,189
Operating Earnings	267	300
Operating Segments \| Nutritional Products
Segment Reporting Information [Line Items]
Net Sales to External Customers	2,068	1,967
Operating Earnings	377	380
Operating Segments \| Diagnostic Products
Segment Reporting Information [Line Items]
Net Sales to External Customers	2,214	2,688
Operating Earnings	474	651
Operating Segments \| Medical Devices
Segment Reporting Information [Line Items]
Net Sales to External Customers	4,453	3,900
Operating Earnings	1,360	1,078
Other
Segment Reporting Information [Line Items]
Net Sales to External Customers	3	3
Segment Reconciling Items
Segment Reporting Information [Line Items]
Corporate functions and benefit plan costs	(66)	(77)
Net interest expense	(61)	(52)
Share-based compensation	(304)	(281)
Amortization of intangible assets	(472)	(491)
Other, net	(139)	$ 54
Various investment impairments	$ 38