Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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AbbVie Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
The financial structure of the organization exhibits a progressive shift toward high leverage, culminating in a transition from positive stockholders' equity to a deficit position. Total liabilities have expanded consistently from 90.88% of total liabilities and equity in March 2021 to 104.36% by June 2026, indicating that liabilities now exceed total assets.
- Liability Trends and Composition
- Current liabilities have demonstrated a steady upward trajectory, rising from 21.23% in March 2021 to 30.82% in June 2026. This growth is primarily driven by accounts payable and accrued liabilities, which nearly doubled from 13.69% to 24.65% over the observed period. Long-term debt, excluding the current portion, remains the largest single component of the balance sheet, fluctuating between approximately 38% and 49%, reflecting a persistent reliance on long-term borrowing to fund operations and capital requirements.
- Equity Erosion and Deficit Transition
- A critical decline in total equity is observed, moving from 9.12% in March 2021 to a deficit of -4.36% by June 2026. The company officially entered a negative equity position in mid-2025. This erosion is most pronounced in retained earnings, which shifted from a positive 1.52% in March 2021 to a significant accumulated deficit of -12.83% by June 2026.
- Shareholder Capital and Treasury Activity
- The impact of treasury stock has intensified, moving from -2.00% in March 2021 to -7.86% in June 2026, suggesting aggressive share repurchase activity that has further reduced the equity base. While additional paid-in capital increased from 11.77% to 17.14%, this growth was insufficient to offset the combined impact of the retained earnings deficit and the increase in treasury stock costs.
- Short-Term Obligations and Liquidity Pressure
- The current portion of long-term debt has shown significant volatility, peaking at 8.87% in June 2024 before declining and then rising again to 6.17% by June 2026. Short-term borrowings remained negligible for most of the period but saw a brief spike between March and September 2025, reaching a peak of 4.05% before receding.