Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

AbbVie Inc., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash and equivalents	5,229)	5,524)	12,814)	9,201)	9,746)
Short-term investments	28)	31)	2)	28)	84)
Accounts receivable, net	12,589)	10,919)	11,155)	11,254)	9,977)
Inventories	4,951)	4,181)	4,099)	3,579)	3,128)
Prepaid expenses and other	6,265)	4,927)	4,932)	4,401)	4,993)
Current assets	29,062)	25,582)	33,002)	28,463)	27,928)
Investments	268)	279)	304)	241)	277)
Property and equipment, net	5,628)	5,134)	4,989)	4,935)	5,110)
Intangible assets, net	52,641)	60,068)	55,610)	67,439)	75,951)
Goodwill	35,640)	34,956)	32,293)	32,156)	32,379)
Other assets	10,721)	9,142)	8,513)	5,571)	4,884)
Long-term assets	104,898)	109,579)	101,709)	110,342)	118,601)
Total assets	133,960)	135,161)	134,711)	138,805)	146,529)

Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).

An examination of the asset composition reveals several noteworthy trends between 2021 and 2025. Total assets experienced an initial decline from 2021 to 2023, followed by a slight recovery in 2024, and a further decrease in 2025. This overall fluctuation warrants further investigation into the underlying drivers of asset value.

Current Assets: Current assets demonstrated an increasing trend from 2021 to 2023, peaking at US$33,002 million. However, a significant decrease was observed in 2024, falling to US$25,582 million, before a partial recovery to US$29,062 million in 2025. This volatility is largely attributable to changes in cash and equivalents, which decreased substantially in 2024. Accounts receivable and inventories exhibited consistent growth throughout the period, suggesting increasing sales or production levels, while prepaid expenses and other current assets also showed an upward trend.
Long-Term Assets: Long-term assets generally decreased from 2021 to 2023, declining from US$118,601 million to US$101,709 million. A subsequent increase occurred in 2024, reaching US$109,579 million, followed by a slight decrease in 2025. The most substantial component of long-term assets, intangible assets, net, experienced a significant reduction from 2021 to 2023, before increasing in 2024 and decreasing again in 2025. Goodwill remained relatively stable throughout the period, with a modest increase in the final year. Property and equipment, net, showed a gradual increase over the five-year period. Other long-term assets consistently increased, indicating potential investments in areas not categorized elsewhere.
Cash and Equivalents: Cash and equivalents experienced considerable fluctuation. After a slight decrease from 2021 to 2022, a substantial increase was observed in 2023. However, a dramatic decrease occurred in 2024, followed by a further, though smaller, decrease in 2025. This suggests active cash management, potentially involving significant investments, acquisitions, or returns to shareholders.
Short-Term Investments: Short-term investments remained consistently low throughout the period, fluctuating between US$28 million and US$84 million. Their minimal contribution to total assets suggests they are not a primary component of the company’s investment strategy.

The observed trends suggest a dynamic asset structure, with significant shifts in current assets, particularly cash and equivalents, and a notable decline in intangible assets. The company appears to be actively managing its asset base, potentially in response to changing market conditions or strategic priorities. Further analysis, including a review of the income statement and cash flow statement, is recommended to provide a more comprehensive understanding of these trends.

AbbVie Inc. (NYSE:ABBV)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items