Abbott Laboratories, balance sheet: debt

US$ in millions

	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Current portion of long-term debt	3,033)	1,500)	1,080)	2,251)	754)
Long-term debt, excluding current portion	9,896)	12,625)	13,599)	14,522)	17,296)
Total long-term debt, including current maturities (carrying amount)	12,929)	14,125)	14,679)	16,773)	18,050)

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).

The carrying amount of total long-term debt exhibited a declining trend over the five-year period. Initial values were relatively high, but a consistent reduction is apparent through the end of the observed period.

Overall Trend: Total long-term debt, including current maturities, decreased from US$18,050 million in 2021 to US$12,929 million in 2025. This represents a cumulative reduction of approximately 28.4% over the five years.
Current Portion of Long-Term Debt: The current portion of long-term debt demonstrated considerable fluctuation. It increased significantly from US$754 million in 2021 to US$2,251 million in 2022, before decreasing to US$1,080 million in 2023. A subsequent increase to US$1,500 million occurred in 2024, followed by a substantial rise to US$3,033 million in 2025. This suggests a shifting pattern in short-term debt obligations.
Long-Term Debt (Excluding Current Portion): Long-term debt, excluding current maturities, generally decreased throughout the period. It fell from US$17,296 million in 2021 to US$9,896 million in 2025. The largest decrease occurred between 2021 and 2022, with a reduction of US$2,774 million. Subsequent declines were more moderate, indicating a sustained effort to reduce long-term obligations.

The combined effect of these changes indicates a strategy focused on reducing overall debt, with some variability in the timing of short-term versus long-term debt management. The increasing current portion of long-term debt in the final year suggests a potential restructuring of debt maturities or increased reliance on short-term financing.

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	Dec 31, 2025
Selected Financial Data (US$ in millions)
Total long-term debt, including current maturities (fair value)	12,772)
Financial Ratio
Debt, fair value to carrying amount ratio	0.99

Based on: 10-K (reporting date: 2025-12-31).

Weighted-average interest rate on debt: 3.83%

Interest rate	Debt amount¹	Interest rate × Debt amount
1.50%	1,344)	20)
3.75%	1,700)	64)
0.38%	695)	3)
1.15%	650)	7)
1.40%	650)	9)
4.75%	1,650)	78)
6.15%	547)	34)
6.00%	515)	31)
5.30%	694)	37)
4.75%	700)	33)
4.90%	3,250)	159)
Total	12,395)	475)
3.83%

Based on: 10-K (reporting date: 2025-12-31).

¹ US$ in millions

² Weighted-average interest rate = 100 × 475 ÷ 12,395 = 3.83%

Abbott Laboratories (NYSE:ABT)

Analysis of Debt

Total Debt (Carrying Amount)

Total Debt (Fair Value)

Weighted-average Interest Rate on Debt