Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

AbbVie Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in millions

	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021
Short-term borrowings	2,499)	3,790)	5,556)	1,593)	—)	—)	—)	3)	—)	2)	—)	1)	1)	10)	17)	12)	14)	16)	17)	9)
Current portion of long-term debt and finance lease obligations	6,056)	1,982)	1,966)	3,769)	6,804)	12,570)	12,586)	10,193)	7,191)	5,113)	5,203)	2,800)	4,135)	9,197)	11,913)	9,940)	12,481)	6,656)	7,884)	11,338)
Accounts payable and accrued liabilities	34,734)	33,619)	32,245)	31,041)	31,945)	30,492)	29,329)	31,326)	30,650)	29,658)	27,036)	24,789)	25,402)	23,505)	22,543)	22,569)	22,699)	21,861)	20,783)	20,604)
Current liabilities	43,289)	39,391)	39,767)	36,403)	38,749)	43,062)	41,915)	41,522)	37,841)	34,773)	32,239)	27,590)	29,538)	32,712)	34,473)	32,521)	35,194)	28,533)	28,684)	31,951)
Long-term debt and finance lease obligations, excluding current portion	58,941)	62,971)	62,959)	64,527)	60,340)	58,509)	58,048)	63,805)	52,194)	55,631)	55,812)	59,292)	59,135)	60,399)	61,002)	63,522)	64,189)	74,049)	74,237)	74,183)
Deferred income taxes	2,389)	2,480)	2,554)	2,582)	2,579)	2,749)	2,726)	2,722)	1,952)	2,044)	2,124)	2,110)	2,190)	1,972)	2,255)	2,831)	3,009)	3,602)	3,661)	3,768)
Other long-term liabilities	32,569)	31,655)	32,040)	31,191)	30,129)	33,031)	32,427)	32,778)	32,327)	31,644)	32,294)	32,249)	30,655)	30,215)	30,768)	28,023)	28,701)	29,097)	28,796)	26,866)
Long-term liabilities	93,899)	97,106)	97,553)	98,300)	93,048)	94,289)	93,201)	99,305)	86,473)	89,319)	90,230)	93,651)	91,980)	92,586)	94,025)	94,376)	95,899)	106,748)	106,694)	104,817)
Total liabilities	137,188)	136,497)	137,320)	134,703)	131,797)	137,351)	135,116)	140,827)	124,314)	124,092)	122,469)	121,241)	121,518)	125,298)	128,498)	126,897)	131,093)	135,281)	135,378)	136,768)
Common stock, $0.01 par value	18)	18)	18)	18)	18)	18)	18)	18)	18)	18)	18)	18)	18)	18)	18)	18)	18)	18)	18)	18)
Common stock held in treasury, at cost	(9,146)	(9,143)	(9,147)	(9,137)	(8,201)	(7,848)	(7,838)	(7,829)	(6,533)	(6,525)	(6,528)	(6,524)	(4,594)	(4,590)	(4,591)	(4,585)	(3,143)	(3,020)	(3,022)	(3,017)
Additional paid-in-capital	22,495)	22,291)	21,987)	21,808)	21,333)	21,160)	20,879)	20,656)	20,180)	20,021)	19,839)	19,619)	19,245)	19,056)	18,906)	18,731)	18,305)	18,108)	17,936)	17,712)
Retained earnings (accumulated deficit)	(15,493)	(14,234)	(11,503)	(9,527)	(7,900)	(4,964)	(3,768)	(2,384)	(1,000)	933)	1,789)	2,393)	4,784)	4,953)	3,516)	5,103)	3,127)	1,600)	740)	2,292)
Accumulated other comprehensive loss	(1,144)	(1,574)	(1,538)	(1,742)	(1,925)	(2,334)	(2,513)	(2,454)	(2,305)	(2,353)	(2,252)	(2,232)	(2,199)	(3,443)	(3,196)	(2,984)	(2,899)	(3,156)	(3,103)	(3,295)
Stockholders’ equity (deficit)	(3,270)	(2,642)	(183)	1,420)	3,325)	6,032)	6,778)	8,007)	10,360)	12,094)	12,866)	13,274)	17,254)	15,994)	14,653)	16,283)	15,408)	13,550)	12,569)	13,710)
Noncontrolling interest	42)	43)	45)	42)	39)	39)	43)	40)	37)	35)	32)	29)	33)	33)	35)	31)	28)	27)	25)	23)
Total equity (deficit)	(3,228)	(2,599)	(138)	1,462)	3,364)	6,071)	6,821)	8,047)	10,397)	12,129)	12,898)	13,303)	17,287)	16,027)	14,688)	16,314)	15,436)	13,577)	12,594)	13,733)
Total liabilities and equity (deficit)	133,960)	133,898)	137,182)	136,165)	135,161)	143,422)	141,937)	148,874)	134,711)	136,221)	135,367)	134,544)	138,805)	141,325)	143,186)	143,211)	146,529)	148,858)	147,972)	150,501)

An examination of the balance sheet liabilities and stockholders’ equity reveals several noteworthy trends between March 2021 and December 2025. Overall, total liabilities demonstrate a fluctuating pattern, while stockholders’ equity experiences a more pronounced decline in later periods.

Short-Term Borrowings: Short-term borrowings remained relatively stable, generally below $20 million, from March 2021 through December 2022. A significant increase is observed in March 2025, reaching $1,593 million, followed by a further increase to $5,556 million in June 2025, and then a decrease to $2,499 million by December 2025. This suggests a substantial, albeit temporary, reliance on short-term financing during the first half of 2025.
Current Portion of Long-Term Debt: The current portion of long-term debt exhibited considerable volatility. It began at $11,338 million in March 2021, decreased substantially to $4,135 million by December 2022, and then showed a fluctuating pattern, ending at $6,056 million in December 2025. This indicates active debt management and potential refinancing activities.
Accounts Payable and Accrued Liabilities: Accounts payable and accrued liabilities generally trended upward throughout the period, increasing from $20,604 million in March 2021 to $34,734 million in December 2025. This consistent growth suggests an increase in operational activity or changes in payment terms with suppliers.
Current Liabilities: Total current liabilities mirrored the trend in accounts payable, increasing from $31,951 million in March 2021 to $43,289 million in December 2025, with fluctuations throughout the period. The increase is largely driven by the changes in accounts payable and the current portion of long-term debt.
Long-Term Debt: Long-term debt, excluding the current portion, decreased from $74,183 million in March 2021 to $58,941 million in December 2025. While there were minor fluctuations, the overall trend is downward, suggesting debt reduction efforts. A slight increase is observed towards the end of the period, reaching $64,527 million in March 2025 before decreasing again.
Deferred Income Taxes: Deferred income taxes experienced a gradual decline from $3,768 million in March 2021 to $2,389 million in December 2025. This decrease could be attributed to changes in tax laws, adjustments to tax liabilities, or changes in the timing of recognizing taxable and deductible items.
Other Long-Term Liabilities: Other long-term liabilities showed a moderate increase, moving from $26,866 million in March 2021 to $32,569 million in December 2025, with some quarterly variations. This suggests a growing commitment to long-term obligations beyond traditional debt.
Total Liabilities: Total liabilities initially decreased from $136,768 million in March 2021 to $121,518 million in December 2022, then fluctuated, ending at $137,188 million in December 2025. The increase in short-term borrowings in 2025 contributed to this final increase.
Stockholders’ Equity: Stockholders’ equity demonstrated a clear downward trend. Beginning at $13,733 million in March 2021, it decreased to $10,397 million in December 2023 and further declined to a deficit of -$3,228 million by December 2025. This decline is primarily driven by significant losses in retained earnings, particularly in the later periods.
Retained Earnings: Retained earnings experienced a substantial shift from a positive $2,292 million in March 2021 to a deficit of -$15,493 million in December 2025. This indicates significant cumulative losses over the period, impacting overall equity.
Treasury Stock: The amount of common stock held in treasury increased consistently throughout the period, from -$3,017 million in March 2021 to -$9,146 million in December 2025. This suggests ongoing share repurchase programs.

In summary, the company experienced a notable decrease in stockholders’ equity, primarily due to substantial losses reflected in retained earnings. While long-term debt decreased, short-term borrowings saw a significant increase in the latter part of the period. Accounts payable and accrued liabilities consistently increased, indicating growing operational demands. These trends suggest a period of financial challenges and strategic shifts in financing and capital management.

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AbbVie Inc. (NYSE:ABBV)

Balance Sheet: Liabilities and Stockholders’ Equity Quarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data