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

	Mar 31, 2026	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	8,326)	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	33,774)	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	42,100)	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, excluding current portion	64,532)	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	2,332)	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	34,111)	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	100,975)	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	143,075)	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)	18)
Common stock held in treasury, at cost	(10,611)	(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	22,962)	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)	(17,872)	(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	(1,153)	(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)	(6,656)	(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	44)	42)	43)	45)	42)	39)	39)	43)	40)	37)	35)	32)	29)	33)	33)	35)	31)	28)	27)	25)	23)
Total equity (deficit)	(6,612)	(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)	136,463)	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)

The financial position of the entity is characterized by a significant structural shift in the balance sheet, marked by a transition from positive stockholders' equity to a substantial deficit. While total liabilities have remained relatively stable with a gradual upward trajectory, the equity component has deteriorated sharply over the analyzed period, resulting in a balance sheet increasingly funded by debt and liabilities.

Liability Trends and Composition: Total liabilities exhibited a general increase from 136,768 million USD in March 2021 to 143,075 million USD by March 2026. A primary driver of this growth is the rise in current liabilities, which climbed from 31,951 million USD to 42,100 million USD. This increase is largely attributable to accounts payable and accrued liabilities, which grew steadily from 20,604 million USD to 33,774 million USD. Long-term debt, excluding the current portion, has fluctuated but remained high, starting at 74,183 million USD and ending at 64,532 million USD, indicating a persistent reliance on long-term borrowing to maintain operations.
Stockholders' Equity Erosion: A severe decline in total equity is observed, moving from a positive 13,733 million USD in March 2021 to a deficit of 6,612 million USD by March 2026. The transition into negative equity occurred between March 2025 and June 2025. This erosion is primarily driven by two factors: a precipitous drop in retained earnings and an aggressive increase in treasury stock acquisitions.
Retained Earnings and Treasury Stock Analysis: Retained earnings shifted from a positive 2,292 million USD in March 2021 to a profound accumulated deficit of 17,872 million USD by March 2026. This downward trend accelerated significantly after December 2023, when the balance first turned negative. Simultaneously, the cost of common stock held in treasury increased from 3,017 million USD to 10,611 million USD, suggesting that substantial capital was deployed for share buybacks, which further reduced the total equity base.
Capital Structure and Solvency Implications: The combination of increasing current liabilities and a growing equity deficit indicates a heightened risk profile regarding long-term solvency. While additional paid-in capital rose from 17,712 million USD to 22,962 million USD, this increase was insufficient to offset the massive losses in retained earnings and the impact of treasury stock purchases. By the end of the period, the company's total liabilities and equity were supported almost entirely by liabilities, as the equity component became a significant negative value.

In summary, the data reveals a balance sheet under significant pressure, where the accumulation of an accumulated deficit and aggressive capital return strategies have eliminated the equity cushion, leaving the entity with a negative net worth and an increased dependence on liabilities.

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AbbVie Inc. (NYSE:ABBV)

Balance Sheet: Liabilities and Stockholders’ Equity Quarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data