Abbott Laboratories (ABT) 10-Q 4 Aug 21 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2021shares
Document and Entity Information
Document Type	10-Q
Document Transition Report	false
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Entity File Number	1-2189
Entity Registrant Name	ABBOTT LABORATORIES
Entity Tax Identification Number	36-0698440
Entity Incorporation, State or Country Code	IL
Entity Address, State or Province	IL
Entity Address, Address Line One	100 Abbott Park Road
Entity Address, City or Town	Abbott Park
Entity Address, Postal Zip Code	60064-6400
City Area Code	224
Local Phone Number	667-6100
Title of 12(b) Security	Common Shares, Without Par Value
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	1,772,817,349
Entity Central Index Key	0000001800
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Amendment Flag	false
New York Stock Exchange
Document and Entity Information
Security Exchange Name	NYSE
Trading Symbol	ABT
Chicago Stock Exchange
Document and Entity Information
Security Exchange Name	CHX

Condensed Consolidated Statemen

Condensed Consolidated Statement of Earnings - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Condensed Consolidated Statement of Earnings
Net sales	$ 10,223	$ 7,328	$ 20,679	$ 15,054
Cost of products sold, excluding amortization of intangible assets	4,947	3,263	9,348	6,544
Amortization of intangible assets	504	553	1,013	1,114
Research and development	654	564	1,308	1,142
Selling, general and administrative	2,726	2,276	5,509	4,824
Total operating cost and expenses	8,831	6,656	17,178	13,624
Operating earnings	1,392	672	3,501	1,430
Interest expense	134	134	269	273
Interest (income)	(11)	(9)	(22)	(27)
Net foreign exchange (gain) loss		(1)	3	4
Other (income) expense, net	(79)	22	(140)	21
Earnings from continuing operations before taxes	1,348	526	3,391	1,159
Tax expense (benefit) on earnings from continuing operations	159	(11)	409	78
Earnings from continuing operations	1,189	537	2,982	1,081
Earnings from discontinued operations, net of tax				20
Net Earnings	$ 1,189	$ 537	$ 2,982	$ 1,101
Basic Earnings Per Common Share --
Continuing operations	$ 0.67	$ 0.30	$ 1.67	$ 0.61
Discontinued operations				0.01
Net earnings	0.67	0.30	1.67	0.62
Diluted Earnings Per Common Share --
Continuing operations	0.66	0.30	1.66	0.60
Discontinued operations				0.01
Net earnings	$ 0.66	$ 0.30	$ 1.66	$ 0.61
Average Number of Common Shares Outstanding Used for Basic Earnings Per Common Share	1,779,203	1,772,953	1,778,049	1,770,970
Dilutive Common Stock Options	14,076	12,087	14,369	11,882
Average Number of Common Shares Outstanding Plus Dilutive Common Stock Options	1,793,279	1,785,040	1,792,418	1,782,852
Outstanding Common Stock Options Having No Dilutive Effect	2,720	50	2,694	50

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Condensed Consolidated Statement of Comprehensive Income
Net Earnings	$ 1,189	$ 537	$ 2,982	$ 1,101
Foreign currency translation gain (loss) adjustments	165	355	(371)	(789)
Net actuarial gains (losses) and amortization of net actuarial losses and prior service costs and credits, net of taxes of $18 and $36 in 2021 and $13 and $28 in 2020	48	37	133	94
Net gains (losses) for derivative instruments designated as cash flow hedges and other, net of taxes of $2 and $48 in 2021 and $(29) and $19 in 2020	6	(86)	118	80
Other comprehensive income (loss)	219	306	(120)	(615)
Comprehensive Income	1,408	$ 843	2,862	$ 486
Supplemental Accumulated Other Comprehensive Income (Loss) Information, net of tax:
Cumulative foreign currency translation (loss) adjustments	(5,230)		(5,230)		$ (4,859)
Net actuarial (losses) and prior service (costs) and credits	(3,738)		(3,738)		(3,871)
Cumulative gains (losses) on derivative instruments designated as cash flow hedges and other	(98)		(98)		(216)
Accumulated other comprehensive income (loss)	$ (9,066)		$ (9,066)		$ (8,946)

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Condensed Consolidated Statement of Comprehensive Income
Net actuarial gains (losses) and amortization of net actuarial losses and prior service costs and credits taxes	$ 18	$ 13	$ 36	$ 28
Net gains (losses) for derivative instruments designated as cash flow hedges taxes	$ 2	$ (29)	$ 48	$ 19

Condensed Consolidated Balance

Condensed Consolidated Balance Sheet - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Current Assets:
Cash and cash equivalents	$ 8,658	$ 6,838
Short-term investments	286	310
Trade receivables, less allowances of $498 in 2021 and $460 in 2020	6,113	6,414
Inventories:
Finished products	3,118	3,030
Work in process	796	712
Materials	1,525	1,270
Total inventories	5,439	5,012
Prepaid expenses and other receivables	2,131	1,867
Total Current Assets	22,627	20,441
Investments	805	821
Property and equipment, at cost	19,074	18,793
Less: accumulated depreciation and amortization	10,258	9,764
Net property and equipment	8,816	9,029
Intangible assets, net of amortization	13,681	14,784
Goodwill	23,485	23,744
Deferred income taxes and other assets	3,855	3,729
Total Assets	73,269	72,548
Current Liabilities:
Short-term borrowings	199	213
Trade accounts payable	4,017	3,946
Salaries, wages and commissions	1,248	1,416
Other accrued liabilities	5,354	5,165
Dividends payable	799	798
Income taxes payable	242	362
Current portion of long-term debt	755	7
Total Current Liabilities	12,614	11,907
Long-term debt	17,547	18,527
Post-employment obligations, deferred income taxes and other long-term liabilities	9,079	9,111
Commitments and Contingencies
Shareholders' Investment:
Preferred shares, one dollar par value Authorized - 1,000,000 shares, none issued
Common shares, without par value Authorized - 2,400,000,000 shares, Issued at stated capital amount - Shares: 2021: 1,982,553,488; 2020: 1,981,156,896	24,153	24,145
Common shares held in treasury, at cost - Shares: 2021: 209,736,139; 2020: 209,926,622	(10,340)	(10,042)
Earnings employed in the business	29,053	27,627
Accumulated other comprehensive income (loss)	(9,066)	(8,946)
Total Abbott Shareholders' Investment	33,800	32,784
Noncontrolling Interests in Subsidiaries	229	219
Total Shareholders' Investment	34,029	33,003
Total Liabilities and Shareholders' Investment	$ 73,269	$ 72,548

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Condensed Consolidated Balance Sheet
Trade receivables, allowances (in dollars)	$ 498	$ 460
Preferred shares, par value (in dollars per share)	$ 1	$ 1
Preferred shares, authorized shares	1,000,000	1,000,000
Preferred shares, issued shares	0	0
Common shares, authorized shares	2,400,000,000	2,400,000,000
Common shares, issued shares	1,982,553,488	1,981,156,896
Common shares held in treasury, shares	209,736,139	209,926,622

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Shareholders' Investment - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Increase (Decrease) in Shareholders' Investment
Balance at beginning of period			$ 33,003
Net Earnings	$ 1,189	$ 537	2,982	$ 1,101
Other comprehensive income (loss)	219	306	(120)	(615)
Balance at end of period	34,029		34,029
Common Shares:
Increase (Decrease) in Shareholders' Investment
Balance at beginning of period	24,023	23,731	24,145	23,853
Issued under incentive stock programs	18	66	65	119
Share-based compensation	119	105	423	350
Issuance of restricted stock awards	(7)	(9)	(480)	(429)
Balance at end of period	24,153	23,893	24,153	23,893
Common Shares Held in Treasury:
Increase (Decrease) in Shareholders' Investment
Balance at beginning of period	(9,845)	(9,913)	(10,042)	(10,147)
Issued under incentive stock programs	8	10	239	263
Purchased	(503)	(1)	(537)	(20)
Balance at end of period	(10,340)	(9,904)	(10,340)	(9,904)
Earnings Employed in the Business:
Increase (Decrease) in Shareholders' Investment
Balance at beginning of period	28,669	25,786	27,627	25,847
Net Earnings	1,189	537	2,982	1,101
Cash dividends declared on common shares	(801)	(640)	(1,604)	(1,281)
Effect of common and treasury share transactions	(4)	(14)	48	7
Balance at end of period	29,053	25,669	29,053	25,669
Earnings Employed in the Business: | Impact of adoption of new accounting standards
Increase (Decrease) in Shareholders' Investment
Balance at beginning of period				(5)
Accumulated Other Comprehensive Income (Loss):
Increase (Decrease) in Shareholders' Investment
Balance at beginning of period	(9,285)	(9,386)	(8,946)	(8,465)
Other comprehensive income (loss)	219	306	(120)	(615)
Balance at end of period	(9,066)	(9,080)	(9,066)	(9,080)
Noncontrolling Interests in Subsidiaries:
Increase (Decrease) in Shareholders' Investment
Balance at beginning of period	226	209	219	213
Noncontrolling Interests' share of income, business combinations, net of distributions and share repurchases	3	11	10	7
Balance at end of period	$ 229	$ 220	$ 229	$ 220

Condensed Consolidated Statem_5

Condensed Consolidated Statement of Shareholders' Investment (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Common Shares:
Increase (Decrease) in Shareholders' Investment
Balance at beginning of period (in shares)	1,982,205,491	1,978,112,501	1,981,156,896	1,976,855,085
Issued under incentive stock programs (in shares)	347,997	1,481,878	1,396,592	2,739,294
Balance at end of period (in shares)	1,982,553,488	1,979,594,379	1,982,553,488	1,979,594,379
Common Shares Held in Treasury:
Increase (Decrease) in Shareholders' Investment
Balance at beginning of period (in shares)	205,385,343	209,267,175	209,926,622	214,351,838
Issued under incentive stock programs (in shares)	159,644	212,973	4,978,431	5,546,599
Purchased (in shares)	4,510,440	10,178	4,787,948	259,141
Balance at end of period (in shares)	209,736,139	209,064,380	209,736,139	209,064,380
Earnings Employed in the Business:
Increase (Decrease) in Shareholders' Investment
Cash dividends declared per common share	$ 0.45	$ 0.36	$ 0.90	$ 0.72

Condensed Consolidated Statem_6

Condensed Consolidated Statement of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash Flow From (Used in) Operating Activities:
Net earnings	$ 2,982	$ 1,101
Adjustments to reconcile net earnings to net cash from operating activities -
Depreciation	795	539
Amortization of intangible assets	1,013	1,114
Share-based compensation	420	348
Trade receivables	200	127
Inventories	(542)	(987)
Other, net	(103)	(205)
Net Cash From Operating Activities	4,765	2,037
Cash Flow From (Used in) Investing Activities:
Acquisitions of property and equipment	(810)	(1,002)
Acquisitions of businesses and technologies, net of cash acquired	(15)	(32)
Proceeds from business dispositions	48	48
Sales (purchases) of other investment securities, net	81	(32)
Other	10	6
Net Cash (Used in) Investing Activities	(686)	(1,012)
Cash Flow From (Used in) Financing Activities:
Net borrowings (repayments) of short-term debt and other	20	31
Proceeds from issuance of long-term debt		1,279
Repayments of long-term debt	(5)	(2)
Purchases of common shares	(746)	(240)
Proceeds from stock options exercised	103	146
Dividends paid	(1,603)	(1,280)
Other		(11)
Net Cash (Used in) Financing Activities	(2,231)	(77)
Effect of exchange rate changes on cash and cash equivalents	(28)	(45)
Net Increase in Cash and Cash Equivalents	1,820	903
Cash and Cash Equivalents, Beginning of Year	6,838	3,860
Cash and Cash Equivalents, End of Period	$ 8,658	$ 4,763

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2021
Basis of Presentation
Basis of Presentation	Note 1 — Basis of Presentation ​ The accompanying unaudited, condensed consolidated financial statements have been prepared pursuant to rules and regulations of the Securities and Exchange Commission and, therefore, do not include all information and footnote disclosures normally included in audited financial statements. However, in the opinion of management, all adjustments (which include only normal adjustments) necessary to present fairly the results of operations, financial position and cash flows have been made. It is suggested that these statements be read in conjunction with the financial statements included in Abbott’s Annual Report on Form 10-K for the year ended December 31, 2020. The condensed consolidated financial statements include the accounts of the parent company and subsidiaries, after elimination of intercompany transactions.

New Accounting Standards

New Accounting Standards	6 Months Ended
	Jun. 30, 2021
New Accounting Standards
New Accounting Standards	Note 2 — New Accounting Standards ​ Recently Adopted Accounting Standards ​ In December 2019, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes

Revenue

Revenue	6 Months Ended
	Jun. 30, 2021
Revenue
Revenue	Note 3 — Revenue ​ Abbott’s revenues are derived primarily from the sale of a broad line of health care products under short-term receivable arrangements. Abbott has four reportable segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. ​ Note 3 — Revenue (Continued) ​ The following tables provide detail by sales category: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, 2021 ​ Three Months Ended June 30, 2020 (in millions) U.S. Int’l Total U.S. Int’l Total Established Pharmaceutical Products — ​ ​ ​ ​ ​ ​ ​ Key Emerging Markets ​ $ — ​ $ 915 ​ $ 915 ​ $ — ​ $ 764 ​ $ 764 Other ​ — ​ 265 ​ 265 ​ — ​ 249 ​ ​ 249 Total ​ — ​ 1,180 ​ 1,180 ​ — ​ 1,013 ​ 1,013 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nutritionals — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pediatric Nutritionals ​ 528 ​ 565 ​ 1,093 ​ 484 ​ 540 ​ 1,024 Adult Nutritionals ​ 345 ​ 670 ​ 1,015 ​ 324 ​ 535 ​ 859 Total ​ 873 ​ 1,235 ​ 2,108 ​ 808 ​ 1,075 ​ 1,883 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diagnostics — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Core Laboratory ​ 283 ​ 1,023 ​ 1,306 ​ 289 ​ 698 ​ 987 Molecular ​ 94 ​ 196 ​ 290 ​ 144 ​ 215 ​ 359 Point of Care ​ 97 ​ 40 ​ 137 ​ 79 ​ 39 ​ 118 Rapid Diagnostics ​ 681 ​ 833 ​ 1,514 ​ 345 ​ 185 ​ 530 Total ​ 1,155 ​ 2,092 ​ 3,247 ​ 857 ​ 1,137 ​ 1,994 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Medical Devices — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Rhythm Management ​ 269 ​ 298 ​ 567 ​ 185 ​ 216 ​ 401 Electrophysiology ​ 209 ​ 278 ​ 487 ​ 120 ​ 179 ​ 299 Heart Failure ​ 168 ​ 59 ​ 227 ​ 115 ​ 43 ​ 158 Vascular ​ 246 ​ 451 ​ 697 ​ 168 ​ 313 ​ 481 Structural Heart ​ 191 ​ 231 ​ 422 ​ 91 ​ 132 ​ 223 Neuromodulation ​ 166 ​ 44 ​ 210 ​ 85 ​ 21 ​ 106 Diabetes Care ​ ​ 289 ​ ​ 767 ​ ​ 1,056 ​ ​ 202 ​ ​ 553 ​ ​ 755 Total ​ 1,538 ​ 2,128 ​ 3,666 ​ 966 ​ 1,457 ​ 2,423 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other ​ 15 ​ 7 ​ 22 ​ 7 ​ 8 ​ 15 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 3,581 ​ $ 6,642 ​ $ 10,223 ​ $ 2,638 ​ $ 4,690 ​ $ 7,328 ​ Note 3 — Revenue (Continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30, 2021 ​ Six Months Ended June 30, 2020 (in millions) U.S. Int’l Total U.S. Int’l Total Established Pharmaceutical Products — ​ ​ ​ ​ ​ ​ ​ Key Emerging Markets ​ $ — ​ $ 1,736 ​ $ 1,736 ​ $ — ​ $ 1,577 ​ $ 1,577 Other ​ — ​ 514 ​ 514 ​ — ​ 480 ​ ​ 480 Total ​ — ​ 2,250 ​ 2,250 ​ — ​ 2,057 ​ 2,057 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nutritionals — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pediatric Nutritionals ​ 1,036 ​ 1,123 ​ 2,159 ​ 1,002 ​ 1,111 ​ 2,113 Adult Nutritionals ​ 673 ​ 1,312 ​ 1,985 ​ 618 ​ 1,056 ​ 1,674 Total ​ 1,709 ​ 2,435 ​ 4,144 ​ 1,620 ​ 2,167 ​ 3,787 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diagnostics — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Core Laboratory ​ 554 ​ 1,934 ​ 2,488 ​ 556 ​ 1,420 ​ 1,976 Molecular ​ 269 ​ 468 ​ 737 ​ 209 ​ 289 ​ 498 Point of Care ​ 189 ​ 77 ​ 266 ​ 182 ​ 74 ​ 256 Rapid Diagnostics ​ 1,784 ​ 1,986 ​ 3,770 ​ 713 ​ 377 ​ 1,090 Total ​ 2,796 ​ 4,465 ​ 7,261 ​ 1,660 ​ 2,160 ​ 3,820 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Medical Devices — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Rhythm Management ​ 510 ​ 576 ​ 1,086 ​ 413 ​ 462 ​ 875 Electrophysiology ​ 388 ​ 530 ​ 918 ​ 284 ​ 403 ​ 687 Heart Failure ​ 313 ​ 108 ​ 421 ​ 267 ​ 94 ​ 361 Vascular ​ 465 ​ 867 ​ 1,332 ​ 398 ​ 708 ​ 1,106 Structural Heart ​ 360 ​ 439 ​ 799 ​ 227 ​ 314 ​ 541 Neuromodulation ​ 311 ​ 83 ​ 394 ​ 222 ​ 61 ​ 283 Diabetes Care ​ ​ 542 ​ ​ 1,494 ​ ​ 2,036 ​ ​ 388 ​ ​ 1,119 ​ ​ 1,507 Total ​ 2,889 ​ 4,097 ​ 6,986 ​ 2,199 ​ 3,161 ​ 5,360 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other ​ 25 ​ 13 ​ 38 ​ 15 ​ 15 ​ 30 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 7,419 ​ $ 13,260 ​ $ 20,679 ​ $ 5,494 ​ $ 9,560 ​ $ 15,054 ​ Remaining Performance Obligations ​ As of June 30, 2021, the estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) was approximately $3.9 billion in the Diagnostics segment and approximately $414 million in the Medical Devices segment. Abbott expects to recognize revenue on approximately 60 percent of these remaining performance obligations over the next 24 months , approximately 16 percent over the subsequent 12 months and the remainder thereafter. ​ These performance obligations primarily reflect the future sale of reagents/consumables in contracts with minimum purchase obligations, extended warranty or service obligations related to previously sold equipment, and remote monitoring services related to previously implanted devices. Abbott has applied the practical expedient described in Accounting Standards Codification (ASC) 606-10-50-14 and has not included remaining performance obligations related to contracts with original expected durations of one year or less in the amounts above. ​ Note 3 — Revenue (Continued) ​ Other Contract Assets and Liabilities ​ Abbott discloses Trade receivables separately in the Condensed Consolidated Balance Sheet at the net amount expected to be collected. Contract assets primarily relate to Abbott’s conditional right to consideration for work completed but not billed at the reporting date. Contract assets at the beginning and end of the period, as well as the changes in the balance, were not significant. ​ Contract liabilities primarily relate to payments received from customers in advance of performance under the contract. Abbott’s contract liabilities arise primarily in the Medical Devices reportable segment when payment is received upfront for various multi-period extended service arrangements. ​ Changes in the contract liabilities during the period are as follows: ​ ​ ​ ​ ​ (in millions) ​ ​ Contract Liabilities: ​ ​ ​ Balance at December 31, 2020 ​ $ 405 Unearned revenue from cash received during the period ​ ​ 280 Revenue recognized related to contract liability balance ​ ​ (279) Balance at June 30, 2021 ​ $ 406 ​

Supplemental Financial Informat

Supplemental Financial Information	6 Months Ended
	Jun. 30, 2021
Supplemental Financial Information
Supplemental Financial Information	Note 4 — Supplemental Financial Information ​ Shares of unvested restricted stock that contain non-forfeitable rights to dividends are treated as participating securities and are included in the computation of earnings per share under the two-class method. Under the two-class method, net earnings are allocated between common shares and participating securities. Earnings from Continuing Operations allocated to common shares for the three months ended June 30, 2021 and 2020 were $1.184 billion and $534 million, respectively, and for the six months ended June 30, 2021 and 2020 were $2.969 billion and $1.075 billion, respectively. Net earnings allocated to common shares for the three months ended June 30, 2021 and 2020 were $1.184 billion and $534 million, respectively, and for the six months ended June 30, 2021 and 2020 were $2.969 billion and $1.095 billion, respectively. ​ Earnings from discontinued operations, net of tax, in the first six months of 2020 include the recognition of $20 million of tax benefits as a result of the resolution of various tax positions related to the previous sale of a business that was reported as a discontinued operation. ​ Other, net in Net cash from operating activities in the Condensed Consolidated Statement of Cash Flows for the first six months of 2021 includes $80 million of pension contributions and the payment of cash taxes of approximately $715 million. The first six months of 2020 includes $335 million of pension contributions and the payment of cash taxes of approximately $285 million. ​ The following summarizes the activity for the first six months of 2021 related to the allowance for doubtful accounts as of June 30, 2021: ​ ​ ​ ​ ​ (in millions) ​ ​ Allowance for Doubtful Accounts: ​ ​ ​ Balance at December 31, 2020 ​ $ 288 Provisions/charges to income ​ ​ 31 Amounts charged off and other deductions ​ (9) Balance at June 30, 2021 ​ $ 310 ​ Note 4 — Supplemental Financial Information (Continued) ​ The allowance for doubtful accounts reflects the current estimate of credit losses expected to be incurred over the life of the accounts receivable. Abbott considers various factors in establishing, monitoring, and adjusting its allowance for doubtful accounts, including the aging of the accounts and aging trends, the historical level of charge-offs, and specific exposures related to particular customers. Abbott also monitors other risk factors and forward-looking information, such as country risk, when determining credit limits for customers and establishing adequate allowances. ​ The components of long-term investments as of June 30, 2021 and December 31, 2020 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, (in millions) 2021 2020 Long-term Investments: ​ ​ ​ ​ ​ ​ Equity securities ​ $ 754 ​ $ 776 Other ​ 51 ​ 45 Total ​ $ 805 ​ $ 821 ​ The decrease in Abbott’s long-term investments as of June 30, 2021 versus the balance as of December 31, 2020 primarily relates to the sale of an equity method investment. ​ Abbott’s equity securities as of June 30, 2021, include $388 million of investments in mutual funds that are held in a rabbi trust and were acquired as part of the St. Jude Medical, Inc. (St. Jude Medical) business acquisition. These investments, which are specifically designated as available for the purpose of paying benefits under a deferred compensation plan, are not available for general corporate purposes and are subject to creditor claims in the event of insolvency. ​ Abbott also holds certain investments as of June 30, 2021 with a carrying value of $260 million that are accounted for under the equity method of accounting and other equity investments with a carrying value of approximately $91 million that do not have a readily determinable fair value. An approximately $60 million impairment of an investment was recorded in the second quarter of 2020 for which Abbott had previously recorded an unrealized gain of approximately $50 million in 2018.

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2021
Changes in Accumulated Other Comprehensive Income (Loss)
Changes in Accumulated Other Comprehensive Income (Loss)	Note 5 — Changes in Accumulated Other Comprehensive Income (Loss) ​ The changes in accumulated other comprehensive income (loss), net of income taxes, are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative Gains (Losses) ​ ​ Cumulative Foreign ​ Net Actuarial (Losses) and ​ on Derivative Instruments ​ ​ Currency Translation ​ Prior Service (Costs) and ​ Designated as Cash Flow ​ ​ Adjustments ​ Credits ​ Hedges (in millions) 2021 2020 2021 2020 2021 2020 Balance at March 31 ​ $ (5,395) ​ $ (6,068) ​ $ (3,786) ​ $ (3,483) ​ $ (104) ​ $ 165 Other comprehensive income (loss) before reclassifications ​ 165 ​ 355 ​ ​ (12) ​ (9) ​ (28) ​ (67) Amounts reclassified from accumulated other comprehensive income ​ — ​ — ​ 60 ​ 46 ​ 34 ​ (19) Net current period comprehensive income (loss) ​ 165 ​ 355 ​ 48 ​ 37 ​ 6 ​ (86) Balance at June 30 ​ $ (5,230) ​ $ (5,713) ​ $ (3,738) ​ $ (3,446) ​ $ (98) ​ $ 79 ​ Note 5 — Changes in Accumulated Other Comprehensive Income (Loss) (Continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30 ​ ​ ​ ​ ​ ​ Cumulative Gains (Losses) ​ ​ Cumulative Foreign ​ Net Actuarial (Losses) and ​ on Derivative Instruments ​ ​ Currency Translation ​ Prior Service (Costs) and ​ Designated as Cash Flow ​ ​ Adjustments Credits Hedges (in millions) 2021 2020 2021 2020 2021 2020 Balance at January 1 ​ $ (4,859) ​ $ (4,924) ​ $ (3,871) ​ $ (3,540) ​ $ (216) ​ $ (1) Other comprehensive income (loss) before reclassifications ​ (371) ​ (789) ​ ​ 10 ​ (2) ​ 68 ​ 109 Amounts reclassified from accumulated other comprehensive income ​ — ​ ​ — ​ 123 ​ 96 ​ 50 ​ (29) Net current period comprehensive income (loss) ​ (371) ​ (789) ​ 133 ​ 94 ​ 118 ​ 80 Balance at June 30 ​ $ (5,230) ​ $ (5,713) ​ $ (3,738) ​ $ (3,446) ​ $ (98) ​ $ 79 ​ Reclassified amounts for cash flow hedges are recorded as Cost of products sold. Net actuarial losses and prior service cost are included as a component of net periodic benefit costs; see Note 12 for additional details.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets
Goodwill and Intangible Assets	Note 6 — Goodwill and Intangible Assets ​ The total amount of goodwill reported was $23.5 billion at June 30, 2021 and $23.7 billion at December 31, 2020. Foreign currency translation adjustments decreased goodwill by approximately $259 million in the first six months of 2021. The amount of goodwill related to reportable segments at June 30, 2021 was $2.9 billion for the Established Pharmaceutical Products segment, $286 million for the Nutritional Products segment, $3.8 billion for the Diagnostic Products segment, and $16.4 billion for the Medical Devices segment. There was no reduction of goodwill relating to impairments in the first six months of 2021. ​ Indefinite-lived intangible assets, which relate to in-process R&D (IPR&D) acquired in a business combination, were approximately $947 million as of June 30, 2021 and $1.2 billion at December 31, 2020. The decrease is due to IPR&D assets primarily related to the Medical Devices segment that became amortizable in the second quarter of 2021. ​ The gross amount of amortizable intangible assets, primarily product rights and technology was $27.8 billion as of June 30, 2021 and December 31, 2020, and accumulated amortization was $15.1 billion as of June 30, 2021 and $14.2 billion as of December 31, 2020. Foreign currency translation adjustments decreased intangible assets by $83 million in the first six months of 2021. In the second quarter of 2021, an asset impairment related to the Established Pharmaceutical Products segment decreased intangible assets by $11 million. The impairment was recorded in the Cost of products sold, excluding amortization of intangible assets line of Abbott’s Condensed Consolidated Statement of Earnings. Abbott’s estimated annual amortization expense for intangible assets is approximately $2.0 billion in 2021 and 2022, and $1.9 billion in 2023, 2024 , and 2025 .

Restructuring Plans

Restructuring Plans	6 Months Ended
	Jun. 30, 2021
Restructuring Plans
Restructuring Plans	Note 7 — Restructuring Plans ​ On May 27, 2021, Abbott management approved a restructuring plan related to its Diagnostic Products segment to align its manufacturing network for COVID-19 diagnostic tests with changes in projected testing demand driven by several factors, including significant reductions in cases in the U.S. and other major developed countries, the accelerated rollout of COVID-19 vaccines globally and the U.S. health authority’s updated guidance on testing for fully vaccinated individuals. Abbott estimates that the total pre-tax cost to implement this restructuring plan will be approximately $500 million to $625 million, including fixed asset write-downs of $80 million to $115 million, inventory-related charges of $250 million to $260 million, and other exit costs of $170 million to $250 million. Other exit costs include contract cancellation and employee-related costs. Actions associated with this plan are expected to be substantially complete by the end of 2021. ​ Note 7 — Restructuring Plans (Continued) ​ In the second quarter of 2021, Abbott recorded charges of $499 million under this plan in Cost of products sold. The charge recognized in the second quarter includes fixed asset write-downs of $80 million, inventory-related charges of $248 million, and other exit costs, which include contract cancellations and employee-related costs of $171 million. Other exit costs will result in future cash outlays that are expected to be made primarily over the next 6 months. The following summarizes the activity for the first six months of 2021 related to this restructuring action and the status of the related accruals as of June 30, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Inventory ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Related ​ Fixed Asset ​ Other Exit ​ ​ ​ (in millions) Charges Write-Downs Costs Total Restructuring charges recorded in 2021 ​ $ 248 ​ $ 80 ​ $ 171 ​ $ 499 Payments ​ — ​ — ​ (19) ​ (19) Other-non-cash ​ (248) ​ (80) ​ — ​ (328) Accrued balance at June 30, 2021 ​ $ — ​ $ — ​ $ 152 ​ $ 152 ​ From 2017 to 2021, Abbott management approved restructuring plans as part of the integration of the acquisitions of St. Jude Medical into the Medical Devices segment, and Alere Inc. (Alere) into the Diagnostic Products segment, in order to leverage economies of scale and reduce costs. As of December 31, 2020, the accrued balance associated with these actions was $25 million. In the first six months of 2021, charges of $4 million were recognized, of which $1 million is recorded in Cost of products sold and $3 million as Selling, general and administrative expense. As of June 30, 2021, the accrued liabilities remaining in the Condensed Consolidated Balance Sheet related to these actions total $15 million and primarily represent severance obligations. ​ From 2017 to 2020, Abbott management approved plans to streamline operations in order to reduce costs and improve efficiencies in various Abbott businesses including the nutritional, established pharmaceuticals and vascular businesses. In the first six months of 2021, charges of $1 million were recognized as Cost of products sold. The following summarizes the activity for the first six months of 2021 related to these restructuring actions and the status of the related accrual as of June 30, 2021: ​ ​ ​ ​ ​ (in millions) ​ ​ Accrued balance at December 31, 2020 ​ $ 70 Restructuring charges recorded in 2021 ​ ​ 1 Payments and other adjustments ​ ​ (24) Accrued balance at June 30, 2021 ​ $ 47 ​

Incentive Stock Programs

Incentive Stock Programs	6 Months Ended
	Jun. 30, 2021
Incentive Stock Programs
Incentive Stock Programs	Note 8 — Incentive Stock Programs ​ In the first six months of 2021, Abbott granted 2,730,398 stock options, 478,490 restricted stock awards and 4,624,439 restricted stock units under its incentive stock program. At June 30, 2021, approximately 101 million shares were reserved for future grants. Information regarding the number of options outstanding and exercisable at June 30, 2021 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding Exercisable Number of shares 30,091,814 ​ 23,273,096 Weighted average remaining life ( years 6.0 ​ 5.2 Weighted average exercise price $ 62.45 ​ $ 51.56 Aggregate intrinsic value ( in millions $ 1,631 ​ $ 1,498 ​ The total unrecognized share-based compensation cost at June 30, 2021 amounted to approximately $645 million which is expected to be recognized over the next three years .

Debt and Lines of Credit

Debt and Lines of Credit	6 Months Ended
	Jun. 30, 2021
Debt and Lines of Credit
Debt and Lines of Credit	Note 9 — Debt and Lines of Credit ​ On June 24, 2020, Abbott completed the issuance of $1.3 billion aggregate principal amount of senior notes, consisting of $650 million of its 1.15% Notes due 2028 and $650 million of its 1.40% Notes due 2030.

Financial Instruments, Derivati

Financial Instruments, Derivatives and Fair Value Measures	6 Months Ended
	Jun. 30, 2021
Financial Instruments, Derivatives and Fair Value Measures
Financial Instruments, Derivatives and Fair Value Measures	Note 10 — Financial Instruments, Derivatives and Fair Value Measures ​ Certain Abbott foreign subsidiaries enter into foreign currency forward exchange contracts to manage exposures to changes in foreign exchange rates primarily for anticipated intercompany purchases by those subsidiaries whose functional currencies are not the U.S. dollar. These contracts, with gross notional amounts totaling $8.8 billion at June 30, 2021 and $8.1 billion at December 31, 2020 are designated as cash flow hedges of the variability of the cash flows due to changes in foreign exchange rates and are recorded at fair value. Accumulated gains and losses as of June 30, 2021 will be included in Cost of products sold at the time the products are sold, generally through the next twelve to eighteen months . ​ Abbott enters into foreign currency forward exchange contracts to manage currency exposures for foreign currency denominated third-party trade payables and receivables, and for intercompany loans and trade accounts payable where the receivable or payable is denominated in a currency other than the functional currency of the entity. For intercompany loans, the contracts require Abbott to sell or buy foreign currencies, primarily European currencies, in exchange for primarily U.S. dollars and other European currencies. For intercompany and trade payables and receivables, the currency exposures are primarily the U.S. dollar and European currencies. At June 30, 2021 and December 31, 2020, Abbott held the gross notional amounts of $10.0 billion and $11.0 billion, respectively, of such foreign currency forward exchange contracts. ​ Abbott has designated a yen-denominated, 5-year term loan of approximately $540 million and $577 million as of June 30, 2021 and December 31, 2020, respectively, as a hedge of the net investment in certain foreign subsidiaries. The change in the value of the debt, which is due to changes in foreign exchange rates, is recorded in Accumulated other comprehensive income (loss), net of tax. ​ Abbott is a party to interest rate hedge contracts totaling approximately $2.9 billion at June 30, 2021 and December 31, 2020 to manage its exposure to changes in the fair value of fixed-rate debt. These contracts are designated as fair value hedges of the variability of the fair value of fixed-rate debt due to changes in the long-term benchmark interest rates. The effect of the hedge is to change a fixed-rate interest obligation to a variable rate for that portion of the debt. Abbott records the contracts at fair value and adjusts the carrying amount of the fixed-rate debt by an offsetting amount. ​ The following table summarizes the amounts and location of certain derivative financial instruments as of June 30, 2021 and December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value - Assets ​ Fair Value - Liabilities ​ ​ June 30, ​ Dec. 31, ​ ​ ​ June 30, ​ Dec. 31, ​ (in millions) 2021 2020 Balance Sheet Caption 2021 2020 Balance Sheet Caption Interest rate swaps designated as fair value hedges ​ $ 143 $ 210 Deferred income taxes and other assets $ — $ — Post-employment obligations, deferred income taxes and other long-term liabilities Foreign currency forward exchange contracts: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Hedging instruments ​ 98 ​ 30 Prepaid expenses and other receivables ​ 151 ​ 433 Other accrued liabilities Others not designated as hedges ​ 43 ​ 60 Prepaid expenses and other receivables ​ 67 ​ 65 Other accrued liabilities Debt designated as a hedge of net investment in a foreign subsidiary ​ ​ — ​ ​ — ​ n/a ​ ​ 540 ​ ​ 577 ​ Long-term debt ​ ​ $ 284 $ 300 ​ ​ $ 758 $ 1,075 ​ ​ ​ Note 10 — Financial Instruments, Derivatives and Fair Value Measures (Continued) ​ The following table summarizes the activity for foreign currency forward exchange contracts designated as cash flow hedges and certain other derivative financial instruments, as well as the amounts and location of income (expense) and gain (loss) reclassified into income for the three and six months ended June 30, 2021 and 2020. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain (loss) Recognized in Other ​ Income (expense) and Gain (loss) ​ ​ ​ ​ Comprehensive Income (loss) ​ Reclassified into Income ​ ​ ​ ​ Three Months ​ Six Months ​ Three Months ​ Six Months ​ ​ ​ ​ Ended June 30 ​ Ended June 30 ​ Ended June 30 ​ Ended June 30 ​ ​ (in millions) 2021 2020 2021 2020 2021 2020 2021 2020 Income Statement Caption Foreign currency forward exchange contracts designated as cash flow hedges ​ $ (88) ​ $ (89) ​ $ 46 ​ $ 138 ​ $ (92) ​ $ 31 ​ $ (115) ​ $ 42 ​ Cost of products sold Debt designated as a hedge of net investment in a foreign subsidiary ​ 2 ​ (2) ​ 37 ​ (10) ​ — ​ — ​ — ​ — n/a Interest rate swaps designated as fair value hedges ​ n/a ​ n/a ​ n/a ​ n/a ​ 2 ​ 27 ​ (67) ​ 195 Interest expense ​ Losses of $16 million and gains of $67 million were recognized in the three months ended June 30, 2021 and 2020, respectively, related to foreign currency forward exchange contracts not designated as a hedge. Gains of $33 million and losses of $98 million were recognized in the six months ended June 30, 2021 and 2020, respectively, related to foreign currency forward exchange contracts not designated as a hedge. These amounts are reported in the Condensed Consolidated Statement of Earnings on the Net foreign exchange (gain) loss line. ​ The carrying values and fair values of certain financial instruments as of June 30, 2021 and December 31, 2020 are shown in the following table. The carrying values of all other financial instruments approximate their estimated fair values. The counterparties to financial instruments consist of select major international financial institutions. Abbott does not expect any losses from non-performance by these counterparties. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2021 ​ December 31, 2020 ​ Carrying Fair Carrying Fair (in millions) ​ Value ​ Value ​ Value ​ Value Long-term Investment Securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity securities ​ $ 754 ​ $ 754 ​ $ 776 ​ $ 776 Other ​ 51 ​ 51 ​ 45 ​ 45 Total Long-term Debt ​ ​ (18,302) ​ ​ (21,592) ​ ​ (18,534) ​ ​ (22,809) Foreign Currency Forward Exchange Contracts: ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivable position ​ 141 ​ 141 ​ 90 ​ 90 (Payable) position ​ ​ (218) ​ ​ (218) ​ ​ (498) ​ ​ (498) Interest Rate Hedge Contracts: ​ ​ ​ ​ ​ ​ ​ ​ Receivable position ​ ​ 143 ​ ​ 143 ​ ​ 210 ​ ​ 210 ​ The fair value of the debt was determined based on significant other observable inputs, including current interest rates. ​ Note 10 — Financial Instruments, Derivatives and Fair Value Measures (Continued) ​ The following table summarizes the bases used to measure certain assets and liabilities at fair value on a recurring basis in the balance sheet: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basis of Fair Value Measurement ​ ​ ​ ​ ​ Quoted ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ Prices in ​ Other ​ Significant ​ ​ Outstanding ​ Active ​ Observable ​ Unobservable (in millions) Balances Markets Inputs Inputs June 30, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity securities ​ $ 403 ​ $ 403 $ — $ — Interest rate swap derivative financial instruments ​ 143 ​ — ​ 143 ​ — Foreign currency forward exchange contracts ​ 141 ​ — ​ 141 ​ — Total Assets ​ $ 687 $ 403 $ 284 $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value of hedged long-term debt ​ $ 2,982 ​ $ — $ 2,982 $ — Foreign currency forward exchange contracts ​ ​ 218 ​ ​ — ​ ​ 218 ​ ​ — Contingent consideration related to business combinations ​ 67 ​ — ​ — ​ 67 Total Liabilities ​ $ 3,267 $ — $ 3,200 ​ $ 67 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity securities ​ $ 386 $ 386 $ — $ — Interest rate swap derivative financial instruments ​ 210 ​ — ​ 210 ​ — Foreign currency forward exchange contracts ​ 90 ​ — ​ 90 ​ — Total Assets ​ $ 686 $ 386 $ 300 $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value of hedged long-term debt ​ $ 3,049 $ — $ 3,049 $ — Foreign currency forward exchange contracts ​ 498 ​ — ​ 498 ​ — Contingent consideration related to business combinations ​ 68 ​ — ​ — ​ 68 Total Liabilities ​ $ 3,615 $ — $ 3,547 $ 68 ​ The fair value of foreign currency forward exchange contracts is determined using a market approach, which utilizes values for comparable derivative instruments. The fair value of debt was determined based on the face value of the debt adjusted for the fair value of the interest rate swaps, which is based on a discounted cash flow analysis using significant other observable inputs. The fair value of the contingent consideration was determined based on independent appraisals at the time of acquisition, adjusted for the time value of money and other changes in fair value.

Litigation and Environmental Ma

Litigation and Environmental Matters	6 Months Ended
	Jun. 30, 2021
Litigation and Environmental Matters
Litigation and Environmental Matters	Note 11 — Litigation and Environmental Matters ​ Abbott has been identified as a potentially responsible party for investigation and cleanup costs at a number of locations in the United States and Puerto Rico under federal and state remediation laws and is investigating potential contamination at a number of company-owned locations. Abbott has recorded an estimated cleanup cost for each site for which management believes Abbott has a probable loss exposure. No individual site cleanup exposure is expected to exceed $4 million, and the aggregate cleanup exposure is not expected to exceed $10 million. ​ Note 11 — Litigation and Environmental Matters (Continued) ​ Abbott is involved in various claims and legal proceedings, and Abbott estimates the range of possible loss for its legal proceedings and environmental exposures to be from approximately $255 million to $280 million. The recorded accrual balance at June 30, 2021 for these proceedings and exposures was approximately $265 million. This accrual represents management’s best estimate of probable loss, as defined by FASB ASC No. 450, “Contingencies.” Within the next year, legal proceedings may occur that may result in a change in the estimated loss accrued by Abbott. While it is not feasible to predict the outcome of all such proceedings and exposures with certainty, management believes that their ultimate disposition should not have a material adverse effect on Abbott’s financial position, cash flows, or results of operations.

Post-Employment Benefits

Post-Employment Benefits	6 Months Ended
	Jun. 30, 2021
Post-Employment Benefits
Post-Employment Benefits	Note 12 — Post-Employment Benefits ​ Retirement plans consist of defined benefit, defined contribution, and medical and dental plans. Net periodic benefit costs, other than service costs, are recognized in the Other (income) expense, net line of the Condensed Consolidated Statement of Earnings. Net cost recognized in continuing operations for the three and six months ended June 30 for Abbott’s major defined benefit plans and post-employment medical and dental benefit plans is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Defined Benefit Plans ​ Medical and Dental Plans ​ ​ Three Months ​ Six Months ​ Three Months ​ Six Months (in millions) ​ Ended June 30 ​ Ended June 30 ​ Ended June 30 ​ Ended June 30 ​ 2021 2020 2021 2020 2021 2020 2021 2020 Service cost — benefits earned during the period ​ $ 96 ​ $ 81 ​ $ 196 ​ $ 166 ​ $ 14 ​ $ 11 ​ $ 28 ​ $ 23 Interest cost on projected benefit obligations ​ 62 ​ 74 ​ 124 ​ 149 ​ 9 ​ 9 ​ 17 ​ 21 Expected return on plan assets ​ (211) ​ (191) ​ (422) ​ (383) ​ (7) ​ (7) ​ (14) ​ (14) Net amortization of: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Actuarial loss, net ​ 78 ​ 64 ​ 159 ​ 127 ​ 7 ​ 2 ​ 14 ​ 10 Prior service cost (credit) ​ 1 ​ 1 ​ 1 ​ 1 ​ (7) ​ (7) ​ (14) ​ (14) Net cost — continuing operations ​ $ 26 ​ $ 29 ​ $ 58 ​ $ 60 ​ $ 16 ​ $ 8 ​ $ 31 ​ $ 26 ​ Abbott funds its domestic defined benefit plans according to Internal Revenue Service funding limitations. International pension plans are funded according to similar regulations. In the first six months of 2021 and 2020, $80 million and $335 million, respectively, were contributed to defined benefit plans. Contributions made to post-employment medical and dental plans in the first six months of 2020 were $11 million. No contributions were made to the post-employment medical and dental plans in the first six months of 2021.

Taxes on Earnings

Taxes on Earnings	6 Months Ended
	Jun. 30, 2021
Taxes on Earnings
Taxes on Earnings	Note 13 — Taxes on Earnings ​ Taxes on earnings from continuing operations reflect the estimated annual effective rates and include charges for interest and penalties. In the first six months of 2021 and 2020, taxes on earnings from continuing operations include approximately $90 million and $67 million, respectively, in excess tax benefits associated with share-based compensation. In the first six months of 2020, taxes on earnings from continuing operations also include approximately $81 million in tax benefits related to the settlement of the former St. Jude Medical consolidated group’s 2014 through 2016 federal income tax returns in the U.S. Earnings from discontinued operations, net of tax, in the first six months of 2020 reflect the recognition of $20 million of net tax benefits primarily as a result of the resolution of various tax positions related to prior years. ​ Tax authorities in various jurisdictions regularly review Abbott’s income tax filings. Abbott believes that it is reasonably possible that the recorded amount of gross unrecognized tax benefits may decrease approximately $80 million, including cash adjustments, within the next twelve months as a result of concluding various domestic and international tax matters.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2021
Segment Information
Segment Information	Note 14 — Segment Information ​ Abbott’s principal business is the discovery, development, manufacture and sale of a broad line of health care products. Abbott’s products are generally sold directly to retailers, wholesalers, hospitals, health care facilities, laboratories, physicians’ offices and government agencies throughout the world. ​ Abbott’s reportable segments are as follows: ​ Established Pharmaceutical Products ​ Nutritional Products ​ Diagnostic Products ​ Medical Devices ​ Abbott’s underlying accounting records are maintained on a legal entity basis for government and public reporting requirements. Segment disclosures are on a performance basis consistent with internal management reporting. Intersegment transfers of inventory are recorded at standard cost and are not a measure of segment operating earnings. The cost of some corporate functions and the cost of certain employee benefits are charged to segments at predetermined rates that approximate cost. Remaining costs, if any, are not allocated to segments. In addition, intangible asset amortization is not allocated to operating segments, and intangible assets and goodwill are not included in the measure of each segment’s assets. ​ Note 14 — Segment Information (Continued) ​ The following segment information has been prepared in accordance with the internal accounting policies of Abbott, as described above, and is not presented in accordance with generally accepted accounting principles applied to the consolidated financial statements. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Sales to External Customers ​ Operating Earnings ​ ​ Three Months ​ Six Months ​ Three Months ​ Six Months ​ ​ Ended June 30 ​ Ended June 30 ​ Ended June 30 ​ Ended June 30 (in millions) 2021 2020 2021 2020 2021 2020 2021 2020 Established Pharmaceutical Products ​ $ 1,180 ​ $ 1,013 ​ $ 2,250 ​ $ 2,057 ​ $ 220 ​ $ 206 ​ $ 389 ​ $ 387 Nutritional Products ​ 2,108 ​ 1,883 ​ 4,144 ​ 3,787 ​ 490 ​ 474 ​ 957 ​ 933 Diagnostic Products ​ 3,247 ​ 1,994 ​ 7,261 ​ 3,820 ​ 1,076 ​ 522 ​ 2,777 ​ 927 Medical Devices ​ 3,666 ​ 2,423 ​ 6,986 ​ 5,360 ​ 1,208 ​ 391 ​ 2,215 ​ 1,194 Total Reportable Segments ​ 10,201 ​ 7,313 ​ 20,641 ​ 15,024 ​ 2,994 ​ 1,593 ​ 6,338 ​ ​ 3,441 Other ​ 22 ​ 15 ​ 38 ​ 30 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net sales ​ $ 10,223 ​ $ 7,328 ​ $ 20,679 ​ $ 15,054 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate functions and benefit plan costs ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (132) ​ ​ (106) ​ ​ (246) ​ ​ (238) Net interest expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (123) ​ ​ (125) ​ ​ (247) ​ ​ (246) Share-based compensation (a) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (132) ​ ​ (115) ​ ​ (420) ​ ​ (348) Amortization of intangible assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (504) ​ ​ (553) ​ ​ (1,013) ​ ​ (1,114) Other, net (b) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (755) ​ ​ (168) ​ ​ (1,021) ​ ​ (336) Earnings from continuing operations before taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 1,348 ​ $ 526 ​ $ 3,391 ​ $ 1,159 (a) Approximately 50 percent of the annual net cost of share-based awards will typically be recognized in the first quarter due to the timing of the granting of share-based awards. (b) Other, net for the three and six months ended June 30, 2021 and 2020 includes integration costs associated with the acquisition of St. Jude Medical and Alere, and restructuring charges. 2021 restructuring charges include $499 million related to Abbott’s restructuring plan for its COVID-19 test manufacturing network. Other, net for the three and six months ended June 30, 2021 also includes costs related to certain litigation. Other, net for the three and six months ended June 30, 2020 also includes impairments of equity investments. ​

New Accounting Standards (Polic

New Accounting Standards (Policies)	6 Months Ended
	Jun. 30, 2021
New Accounting Standards
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards ​ In December 2019, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2021
Revenue
Schedule of reportable segment included under sales category	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, 2021 ​ Three Months Ended June 30, 2020 (in millions) U.S. Int’l Total U.S. Int’l Total Established Pharmaceutical Products — ​ ​ ​ ​ ​ ​ ​ Key Emerging Markets ​ $ — ​ $ 915 ​ $ 915 ​ $ — ​ $ 764 ​ $ 764 Other ​ — ​ 265 ​ 265 ​ — ​ 249 ​ ​ 249 Total ​ — ​ 1,180 ​ 1,180 ​ — ​ 1,013 ​ 1,013 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nutritionals — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pediatric Nutritionals ​ 528 ​ 565 ​ 1,093 ​ 484 ​ 540 ​ 1,024 Adult Nutritionals ​ 345 ​ 670 ​ 1,015 ​ 324 ​ 535 ​ 859 Total ​ 873 ​ 1,235 ​ 2,108 ​ 808 ​ 1,075 ​ 1,883 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diagnostics — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Core Laboratory ​ 283 ​ 1,023 ​ 1,306 ​ 289 ​ 698 ​ 987 Molecular ​ 94 ​ 196 ​ 290 ​ 144 ​ 215 ​ 359 Point of Care ​ 97 ​ 40 ​ 137 ​ 79 ​ 39 ​ 118 Rapid Diagnostics ​ 681 ​ 833 ​ 1,514 ​ 345 ​ 185 ​ 530 Total ​ 1,155 ​ 2,092 ​ 3,247 ​ 857 ​ 1,137 ​ 1,994 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Medical Devices — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Rhythm Management ​ 269 ​ 298 ​ 567 ​ 185 ​ 216 ​ 401 Electrophysiology ​ 209 ​ 278 ​ 487 ​ 120 ​ 179 ​ 299 Heart Failure ​ 168 ​ 59 ​ 227 ​ 115 ​ 43 ​ 158 Vascular ​ 246 ​ 451 ​ 697 ​ 168 ​ 313 ​ 481 Structural Heart ​ 191 ​ 231 ​ 422 ​ 91 ​ 132 ​ 223 Neuromodulation ​ 166 ​ 44 ​ 210 ​ 85 ​ 21 ​ 106 Diabetes Care ​ ​ 289 ​ ​ 767 ​ ​ 1,056 ​ ​ 202 ​ ​ 553 ​ ​ 755 Total ​ 1,538 ​ 2,128 ​ 3,666 ​ 966 ​ 1,457 ​ 2,423 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other ​ 15 ​ 7 ​ 22 ​ 7 ​ 8 ​ 15 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 3,581 ​ $ 6,642 ​ $ 10,223 ​ $ 2,638 ​ $ 4,690 ​ $ 7,328 ​ Note 3 — Revenue (Continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30, 2021 ​ Six Months Ended June 30, 2020 (in millions) U.S. Int’l Total U.S. Int’l Total Established Pharmaceutical Products — ​ ​ ​ ​ ​ ​ ​ Key Emerging Markets ​ $ — ​ $ 1,736 ​ $ 1,736 ​ $ — ​ $ 1,577 ​ $ 1,577 Other ​ — ​ 514 ​ 514 ​ — ​ 480 ​ ​ 480 Total ​ — ​ 2,250 ​ 2,250 ​ — ​ 2,057 ​ 2,057 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nutritionals — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pediatric Nutritionals ​ 1,036 ​ 1,123 ​ 2,159 ​ 1,002 ​ 1,111 ​ 2,113 Adult Nutritionals ​ 673 ​ 1,312 ​ 1,985 ​ 618 ​ 1,056 ​ 1,674 Total ​ 1,709 ​ 2,435 ​ 4,144 ​ 1,620 ​ 2,167 ​ 3,787 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diagnostics — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Core Laboratory ​ 554 ​ 1,934 ​ 2,488 ​ 556 ​ 1,420 ​ 1,976 Molecular ​ 269 ​ 468 ​ 737 ​ 209 ​ 289 ​ 498 Point of Care ​ 189 ​ 77 ​ 266 ​ 182 ​ 74 ​ 256 Rapid Diagnostics ​ 1,784 ​ 1,986 ​ 3,770 ​ 713 ​ 377 ​ 1,090 Total ​ 2,796 ​ 4,465 ​ 7,261 ​ 1,660 ​ 2,160 ​ 3,820 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Medical Devices — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Rhythm Management ​ 510 ​ 576 ​ 1,086 ​ 413 ​ 462 ​ 875 Electrophysiology ​ 388 ​ 530 ​ 918 ​ 284 ​ 403 ​ 687 Heart Failure ​ 313 ​ 108 ​ 421 ​ 267 ​ 94 ​ 361 Vascular ​ 465 ​ 867 ​ 1,332 ​ 398 ​ 708 ​ 1,106 Structural Heart ​ 360 ​ 439 ​ 799 ​ 227 ​ 314 ​ 541 Neuromodulation ​ 311 ​ 83 ​ 394 ​ 222 ​ 61 ​ 283 Diabetes Care ​ ​ 542 ​ ​ 1,494 ​ ​ 2,036 ​ ​ 388 ​ ​ 1,119 ​ ​ 1,507 Total ​ 2,889 ​ 4,097 ​ 6,986 ​ 2,199 ​ 3,161 ​ 5,360 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other ​ 25 ​ 13 ​ 38 ​ 15 ​ 15 ​ 30 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 7,419 ​ $ 13,260 ​ $ 20,679 ​ $ 5,494 ​ $ 9,560 ​ $ 15,054 ​
Schedule of changes in contract liabilities	​ ​ ​ ​ ​ (in millions) ​ ​ Contract Liabilities: ​ ​ ​ Balance at December 31, 2020 ​ $ 405 Unearned revenue from cash received during the period ​ ​ 280 Revenue recognized related to contract liability balance ​ ​ (279) Balance at June 30, 2021 ​ $ 406

Supplemental Financial Inform_2

Supplemental Financial Information (Tables)	6 Months Ended
	Jun. 30, 2021
Supplemental Financial Information
Summary of activity of allowance for doubtful accounts	​ ​ ​ ​ ​ (in millions) ​ ​ Allowance for Doubtful Accounts: ​ ​ ​ Balance at December 31, 2020 ​ $ 288 Provisions/charges to income ​ ​ 31 Amounts charged off and other deductions ​ (9) Balance at June 30, 2021 ​ $ 310
Schedule of long-term investments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, (in millions) 2021 2020 Long-term Investments: ​ ​ ​ ​ ​ ​ Equity securities ​ $ 754 ​ $ 776 Other ​ 51 ​ 45 Total ​ $ 805 ​ $ 821

Changes in Accumulated Other _2

Changes in Accumulated Other Comprehensive Income (Loss) (Loss) (Tables)	6 Months Ended
	Jun. 30, 2021
Changes in Accumulated Other Comprehensive Income (Loss)
Schedule of accumulated other comprehensive income (loss), net of taxes	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative Gains (Losses) ​ ​ Cumulative Foreign ​ Net Actuarial (Losses) and ​ on Derivative Instruments ​ ​ Currency Translation ​ Prior Service (Costs) and ​ Designated as Cash Flow ​ ​ Adjustments ​ Credits ​ Hedges (in millions) 2021 2020 2021 2020 2021 2020 Balance at March 31 ​ $ (5,395) ​ $ (6,068) ​ $ (3,786) ​ $ (3,483) ​ $ (104) ​ $ 165 Other comprehensive income (loss) before reclassifications ​ 165 ​ 355 ​ ​ (12) ​ (9) ​ (28) ​ (67) Amounts reclassified from accumulated other comprehensive income ​ — ​ — ​ 60 ​ 46 ​ 34 ​ (19) Net current period comprehensive income (loss) ​ 165 ​ 355 ​ 48 ​ 37 ​ 6 ​ (86) Balance at June 30 ​ $ (5,230) ​ $ (5,713) ​ $ (3,738) ​ $ (3,446) ​ $ (98) ​ $ 79 ​ Note 5 — Changes in Accumulated Other Comprehensive Income (Loss) (Continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30 ​ ​ ​ ​ ​ ​ Cumulative Gains (Losses) ​ ​ Cumulative Foreign ​ Net Actuarial (Losses) and ​ on Derivative Instruments ​ ​ Currency Translation ​ Prior Service (Costs) and ​ Designated as Cash Flow ​ ​ Adjustments Credits Hedges (in millions) 2021 2020 2021 2020 2021 2020 Balance at January 1 ​ $ (4,859) ​ $ (4,924) ​ $ (3,871) ​ $ (3,540) ​ $ (216) ​ $ (1) Other comprehensive income (loss) before reclassifications ​ (371) ​ (789) ​ ​ 10 ​ (2) ​ 68 ​ 109 Amounts reclassified from accumulated other comprehensive income ​ — ​ ​ — ​ 123 ​ 96 ​ 50 ​ (29) Net current period comprehensive income (loss) ​ (371) ​ (789) ​ 133 ​ 94 ​ 118 ​ 80 Balance at June 30 ​ $ (5,230) ​ $ (5,713) ​ $ (3,738) ​ $ (3,446) ​ $ (98) ​ $ 79

Restructuring Plans (Tables)

Restructuring Plans (Tables)	6 Months Ended
	Jun. 30, 2021
Restructuring Plans
Schedule of restructuring reserve and related cost	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Inventory ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Related ​ Fixed Asset ​ Other Exit ​ ​ ​ (in millions) Charges Write-Downs Costs Total Restructuring charges recorded in 2021 ​ $ 248 ​ $ 80 ​ $ 171 ​ $ 499 Payments ​ — ​ — ​ (19) ​ (19) Other-non-cash ​ (248) ​ (80) ​ — ​ (328) Accrued balance at June 30, 2021 ​ $ — ​ $ — ​ $ 152 ​ $ 152
Summary of restructuring activity	​ ​ ​ ​ ​ (in millions) ​ ​ Accrued balance at December 31, 2020 ​ $ 70 Restructuring charges recorded in 2021 ​ ​ 1 Payments and other adjustments ​ ​ (24) Accrued balance at June 30, 2021 ​ $ 47

Incentive Stock Programs (Table

Incentive Stock Programs (Tables)	6 Months Ended
	Jun. 30, 2021
Incentive Stock Programs
Schedule of stock options outstanding and exercisable	​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding Exercisable Number of shares 30,091,814 ​ 23,273,096 Weighted average remaining life ( years 6.0 ​ 5.2 Weighted average exercise price $ 62.45 ​ $ 51.56 Aggregate intrinsic value ( in millions $ 1,631 ​ $ 1,498

Financial Instruments, Deriva_2

Financial Instruments, Derivatives and Fair Value Measures (Tables)	6 Months Ended
	Jun. 30, 2021
Financial Instruments, Derivatives and Fair Value Measures
Summary of the amounts and location of certain derivative financial instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value - Assets ​ Fair Value - Liabilities ​ ​ June 30, ​ Dec. 31, ​ ​ ​ June 30, ​ Dec. 31, ​ (in millions) 2021 2020 Balance Sheet Caption 2021 2020 Balance Sheet Caption Interest rate swaps designated as fair value hedges ​ $ 143 $ 210 Deferred income taxes and other assets $ — $ — Post-employment obligations, deferred income taxes and other long-term liabilities Foreign currency forward exchange contracts: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Hedging instruments ​ 98 ​ 30 Prepaid expenses and other receivables ​ 151 ​ 433 Other accrued liabilities Others not designated as hedges ​ 43 ​ 60 Prepaid expenses and other receivables ​ 67 ​ 65 Other accrued liabilities Debt designated as a hedge of net investment in a foreign subsidiary ​ ​ — ​ ​ — ​ n/a ​ ​ 540 ​ ​ 577 ​ Long-term debt ​ ​ $ 284 $ 300 ​ ​ $ 758 $ 1,075 ​ ​
Schedule of derivatives gain (loss) in OCI and earnings	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain (loss) Recognized in Other ​ Income (expense) and Gain (loss) ​ ​ ​ ​ Comprehensive Income (loss) ​ Reclassified into Income ​ ​ ​ ​ Three Months ​ Six Months ​ Three Months ​ Six Months ​ ​ ​ ​ Ended June 30 ​ Ended June 30 ​ Ended June 30 ​ Ended June 30 ​ ​ (in millions) 2021 2020 2021 2020 2021 2020 2021 2020 Income Statement Caption Foreign currency forward exchange contracts designated as cash flow hedges ​ $ (88) ​ $ (89) ​ $ 46 ​ $ 138 ​ $ (92) ​ $ 31 ​ $ (115) ​ $ 42 ​ Cost of products sold Debt designated as a hedge of net investment in a foreign subsidiary ​ 2 ​ (2) ​ 37 ​ (10) ​ — ​ — ​ — ​ — n/a Interest rate swaps designated as fair value hedges ​ n/a ​ n/a ​ n/a ​ n/a ​ 2 ​ 27 ​ (67) ​ 195 Interest expense
Schedule of carrying values and fair values of certain financial instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2021 ​ December 31, 2020 ​ Carrying Fair Carrying Fair (in millions) ​ Value ​ Value ​ Value ​ Value Long-term Investment Securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity securities ​ $ 754 ​ $ 754 ​ $ 776 ​ $ 776 Other ​ 51 ​ 51 ​ 45 ​ 45 Total Long-term Debt ​ ​ (18,302) ​ ​ (21,592) ​ ​ (18,534) ​ ​ (22,809) Foreign Currency Forward Exchange Contracts: ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivable position ​ 141 ​ 141 ​ 90 ​ 90 (Payable) position ​ ​ (218) ​ ​ (218) ​ ​ (498) ​ ​ (498) Interest Rate Hedge Contracts: ​ ​ ​ ​ ​ ​ ​ ​ Receivable position ​ ​ 143 ​ ​ 143 ​ ​ 210 ​ ​ 210
Schedule of assets and liabilities measured at fair value on a recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basis of Fair Value Measurement ​ ​ ​ ​ ​ Quoted ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ Prices in ​ Other ​ Significant ​ ​ Outstanding ​ Active ​ Observable ​ Unobservable (in millions) Balances Markets Inputs Inputs June 30, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity securities ​ $ 403 ​ $ 403 $ — $ — Interest rate swap derivative financial instruments ​ 143 ​ — ​ 143 ​ — Foreign currency forward exchange contracts ​ 141 ​ — ​ 141 ​ — Total Assets ​ $ 687 $ 403 $ 284 $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value of hedged long-term debt ​ $ 2,982 ​ $ — $ 2,982 $ — Foreign currency forward exchange contracts ​ ​ 218 ​ ​ — ​ ​ 218 ​ ​ — Contingent consideration related to business combinations ​ 67 ​ — ​ — ​ 67 Total Liabilities ​ $ 3,267 $ — $ 3,200 ​ $ 67 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity securities ​ $ 386 $ 386 $ — $ — Interest rate swap derivative financial instruments ​ 210 ​ — ​ 210 ​ — Foreign currency forward exchange contracts ​ 90 ​ — ​ 90 ​ — Total Assets ​ $ 686 $ 386 $ 300 $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value of hedged long-term debt ​ $ 3,049 $ — $ 3,049 $ — Foreign currency forward exchange contracts ​ 498 ​ — ​ 498 ​ — Contingent consideration related to business combinations ​ 68 ​ — ​ — ​ 68 Total Liabilities ​ $ 3,615 $ — $ 3,547 $ 68 ​

Post-Employment Benefits (Table

Post-Employment Benefits (Tables)	6 Months Ended
	Jun. 30, 2021
Post-Employment Benefits
Schedule of components of the net periodic benefit cost for the entity's major defined benefit plans and post-employment medical and dental benefit plans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Defined Benefit Plans ​ Medical and Dental Plans ​ ​ Three Months ​ Six Months ​ Three Months ​ Six Months (in millions) ​ Ended June 30 ​ Ended June 30 ​ Ended June 30 ​ Ended June 30 ​ 2021 2020 2021 2020 2021 2020 2021 2020 Service cost — benefits earned during the period ​ $ 96 ​ $ 81 ​ $ 196 ​ $ 166 ​ $ 14 ​ $ 11 ​ $ 28 ​ $ 23 Interest cost on projected benefit obligations ​ 62 ​ 74 ​ 124 ​ 149 ​ 9 ​ 9 ​ 17 ​ 21 Expected return on plan assets ​ (211) ​ (191) ​ (422) ​ (383) ​ (7) ​ (7) ​ (14) ​ (14) Net amortization of: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Actuarial loss, net ​ 78 ​ 64 ​ 159 ​ 127 ​ 7 ​ 2 ​ 14 ​ 10 Prior service cost (credit) ​ 1 ​ 1 ​ 1 ​ 1 ​ (7) ​ (7) ​ (14) ​ (14) Net cost — continuing operations ​ $ 26 ​ $ 29 ​ $ 58 ​ $ 60 ​ $ 16 ​ $ 8 ​ $ 31 ​ $ 26 ​

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2021
Segment Information
Schedule of segment information - net sales and operating earnings	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Sales to External Customers ​ Operating Earnings ​ ​ Three Months ​ Six Months ​ Three Months ​ Six Months ​ ​ Ended June 30 ​ Ended June 30 ​ Ended June 30 ​ Ended June 30 (in millions) 2021 2020 2021 2020 2021 2020 2021 2020 Established Pharmaceutical Products ​ $ 1,180 ​ $ 1,013 ​ $ 2,250 ​ $ 2,057 ​ $ 220 ​ $ 206 ​ $ 389 ​ $ 387 Nutritional Products ​ 2,108 ​ 1,883 ​ 4,144 ​ 3,787 ​ 490 ​ 474 ​ 957 ​ 933 Diagnostic Products ​ 3,247 ​ 1,994 ​ 7,261 ​ 3,820 ​ 1,076 ​ 522 ​ 2,777 ​ 927 Medical Devices ​ 3,666 ​ 2,423 ​ 6,986 ​ 5,360 ​ 1,208 ​ 391 ​ 2,215 ​ 1,194 Total Reportable Segments ​ 10,201 ​ 7,313 ​ 20,641 ​ 15,024 ​ 2,994 ​ 1,593 ​ 6,338 ​ ​ 3,441 Other ​ 22 ​ 15 ​ 38 ​ 30 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net sales ​ $ 10,223 ​ $ 7,328 ​ $ 20,679 ​ $ 15,054 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate functions and benefit plan costs ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (132) ​ ​ (106) ​ ​ (246) ​ ​ (238) Net interest expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (123) ​ ​ (125) ​ ​ (247) ​ ​ (246) Share-based compensation (a) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (132) ​ ​ (115) ​ ​ (420) ​ ​ (348) Amortization of intangible assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (504) ​ ​ (553) ​ ​ (1,013) ​ ​ (1,114) Other, net (b) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (755) ​ ​ (168) ​ ​ (1,021) ​ ​ (336) Earnings from continuing operations before taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 1,348 ​ $ 526 ​ $ 3,391 ​ $ 1,159 (a) Approximately 50 percent of the annual net cost of share-based awards will typically be recognized in the first quarter due to the timing of the granting of share-based awards. (b) Other, net for the three and six months ended June 30, 2021 and 2020 includes integration costs associated with the acquisition of St. Jude Medical and Alere, and restructuring charges. 2021 restructuring charges include $499 million related to Abbott’s restructuring plan for its COVID-19 test manufacturing network. Other, net for the three and six months ended June 30, 2021 also includes costs related to certain litigation. Other, net for the three and six months ended June 30, 2020 also includes impairments of equity investments.

Revenue (Details)

Revenue (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)segment	Jun. 30, 2020USD ($)segment	Jun. 30, 2021USD ($)segment	Jun. 30, 2020USD ($)segment
Revenue
Number of reportable segments | segment	4	4	4	4
Net sales	$ 10,223	$ 7,328	$ 20,679	$ 15,054
U.S.
Revenue
Net sales	3,581	2,638	7,419	5,494
Int'l
Revenue
Net sales	6,642	4,690	13,260	9,560
Established Pharmaceutical Products
Revenue
Net sales	1,180	1,013	2,250	2,057
Established Pharmaceutical Products | Int'l
Revenue
Net sales	1,180	1,013	2,250	2,057
Nutritional Products
Revenue
Net sales	2,108	1,883	4,144	3,787
Nutritional Products | U.S.
Revenue
Net sales	873	808	1,709	1,620
Nutritional Products | Int'l
Revenue
Net sales	1,235	1,075	2,435	2,167
Diagnostic Products
Revenue
Net sales	3,247	1,994	7,261	3,820
Diagnostic Products | U.S.
Revenue
Net sales	1,155	857	2,796	1,660
Diagnostic Products | Int'l
Revenue
Net sales	2,092	1,137	4,465	2,160
Medical Devices
Revenue
Net sales	3,666	2,423	6,986	5,360
Medical Devices | U.S.
Revenue
Net sales	1,538	966	2,889	2,199
Medical Devices | Int'l
Revenue
Net sales	2,128	1,457	4,097	3,161
Other
Revenue
Net sales	22	15	38	30
Other | U.S.
Revenue
Net sales	15	7	25	15
Other | Int'l
Revenue
Net sales	7	8	13	15
Key Emerging Markets | Established Pharmaceutical Products
Revenue
Net sales	915	764	1,736	1,577
Key Emerging Markets | Established Pharmaceutical Products | Int'l
Revenue
Net sales	915	764	1,736	1,577
Other | Established Pharmaceutical Products
Revenue
Net sales	265	249	514	480
Other | Established Pharmaceutical Products | Int'l
Revenue
Net sales	265	249	514	480
Pediatric Nutritionals | Nutritional Products
Revenue
Net sales	1,093	1,024	2,159	2,113
Pediatric Nutritionals | Nutritional Products | U.S.
Revenue
Net sales	528	484	1,036	1,002
Pediatric Nutritionals | Nutritional Products | Int'l
Revenue
Net sales	565	540	1,123	1,111
Adult Nutritionals | Nutritional Products
Revenue
Net sales	1,015	859	1,985	1,674
Adult Nutritionals | Nutritional Products | U.S.
Revenue
Net sales	345	324	673	618
Adult Nutritionals | Nutritional Products | Int'l
Revenue
Net sales	670	535	1,312	1,056
Core Laboratory | Diagnostic Products
Revenue
Net sales	1,306	987	2,488	1,976
Core Laboratory | Diagnostic Products | U.S.
Revenue
Net sales	283	289	554	556
Core Laboratory | Diagnostic Products | Int'l
Revenue
Net sales	1,023	698	1,934	1,420
Molecular | Diagnostic Products
Revenue
Net sales	290	359	737	498
Molecular | Diagnostic Products | U.S.
Revenue
Net sales	94	144	269	209
Molecular | Diagnostic Products | Int'l
Revenue
Net sales	196	215	468	289
Point of Care | Diagnostic Products
Revenue
Net sales	137	118	266	256
Point of Care | Diagnostic Products | U.S.
Revenue
Net sales	97	79	189	182
Point of Care | Diagnostic Products | Int'l
Revenue
Net sales	40	39	77	74
Rapid Diagnostics | Diagnostic Products
Revenue
Net sales	1,514	530	3,770	1,090
Rapid Diagnostics | Diagnostic Products | U.S.
Revenue
Net sales	681	345	1,784	713
Rapid Diagnostics | Diagnostic Products | Int'l
Revenue
Net sales	833	185	1,986	377
Rhythm Management | Medical Devices
Revenue
Net sales	567	401	1,086	875
Rhythm Management | Medical Devices | U.S.
Revenue
Net sales	269	185	510	413
Rhythm Management | Medical Devices | Int'l
Revenue
Net sales	298	216	576	462
Electrophysiology | Medical Devices
Revenue
Net sales	487	299	918	687
Electrophysiology | Medical Devices | U.S.
Revenue
Net sales	209	120	388	284
Electrophysiology | Medical Devices | Int'l
Revenue
Net sales	278	179	530	403
Heart Failure | Medical Devices
Revenue
Net sales	227	158	421	361
Heart Failure | Medical Devices | U.S.
Revenue
Net sales	168	115	313	267
Heart Failure | Medical Devices | Int'l
Revenue
Net sales	59	43	108	94
Vascular | Medical Devices
Revenue
Net sales	697	481	1,332	1,106
Vascular | Medical Devices | U.S.
Revenue
Net sales	246	168	465	398
Vascular | Medical Devices | Int'l
Revenue
Net sales	451	313	867	708
Structural Heart | Medical Devices
Revenue
Net sales	422	223	799	541
Structural Heart | Medical Devices | U.S.
Revenue
Net sales	191	91	360	227
Structural Heart | Medical Devices | Int'l
Revenue
Net sales	231	132	439	314
Neuromodulation | Medical Devices
Revenue
Net sales	210	106	394	283
Neuromodulation | Medical Devices | U.S.
Revenue
Net sales	166	85	311	222
Neuromodulation | Medical Devices | Int'l
Revenue
Net sales	44	21	83	61
Diabetes Care | Medical Devices
Revenue
Net sales	1,056	755	2,036	1,507
Diabetes Care | Medical Devices | U.S.
Revenue
Net sales	289	202	542	388
Diabetes Care | Medical Devices | Int'l
Revenue
Net sales	$ 767	$ 553	$ 1,494	$ 1,119

Revenue - Remaining Performance

Revenue - Remaining Performance Obligations (Details) $ in Millions	6 Months Ended
	Jun. 30, 2021USD ($)
Diagnostic Products
Remaining Performance Obligations
Remaining performance obligations	$ 3,900
Medical Devices
Remaining Performance Obligations
Remaining performance obligations	$ 414
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Remaining Performance Obligations
Expected timing of satisfaction period (in months)	24 months
Percentage of remaining performance obligation expected to be recognized in period	60.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Remaining Performance Obligations
Expected timing of satisfaction period (in months)	12 months
Percentage of remaining performance obligation expected to be recognized in period	16.00%

Revenue - Practical Expedient (

Revenue - Practical Expedient (Details)	6 Months Ended
	Jun. 30, 2021
Revenue
Practical expedient in remaining performance obligations related to contracts	true

Revenue - Other Contract Assets

Revenue - Other Contract Assets and Liabilities (Details) $ in Millions	6 Months Ended
	Jun. 30, 2021USD ($)
Contract Liabilities
Balance at December 31, 2020	$ 405
Unearned revenue from cash received during the period	280
Revenue recognized related to contract liability balance	(279)
Balance at June 30, 2021	$ 406

Supplemental Financial Inform_3

Supplemental Financial Information - Income Statement (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Supplemental Financial Information
Earnings from continuing operations allocated to common shares	$ 1,184	$ 534	$ 2,969	$ 1,075
Net earnings allocated to common shares	$ 1,184	$ 534	$ 2,969	$ 1,095

Supplemental Financial Inform_4

Supplemental Financial Information - Cash Flows (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flow disclosures
Payment of cash taxes	$ 715	$ 285
Net tax benefits primarily as a result of the resolution of various tax positions related to prior years related to discontinued operation		20
Defined Benefit Plans
Cash flow disclosures
Pension contributions	$ 80	$ 335

Supplemental Financial Inform_5

Supplemental Financial Information - Allowance for Doubtful Accounts (Details) $ in Millions	6 Months Ended
	Jun. 30, 2021USD ($)
Allowances for Doubtful Accounts and Product Returns
Balance at December 31, 2020	$ 288
Provisions/charges to income	31
Amounts charged off and other deductions	(9)
Balance at June 30, 2021	$ 310

Supplemental Financial Inform_6

Supplemental Financial Information - Investments (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2018	Jun. 30, 2021	Dec. 31, 2020
Investments
Long-term Investments			$ 805	$ 821
Equity method investments carrying value			260
Equity investment without readily determinable fair value			91
Impairment of investments	$ 60
Unrealized gain		$ 50
Equity securities
Investments
Long-term Investments			754	776
Other
Investments
Long-term Investments			51	$ 45
St Jude Medical | Equity securities
Investments
Securities in mutual funds held in a rabbi trust			$ 388

Changes in Accumulated Other _3

Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Changes in accumulated other comprehensive income (loss), net of income taxes
Beginning of the period			$ 32,784
Net current period comprehensive income (loss)	$ 219	$ 306	(120)	$ (615)
End of the period	33,800		33,800
Cumulative Foreign Currency Translation Adjustments
Changes in accumulated other comprehensive income (loss), net of income taxes
Beginning of the period	(5,395)	(6,068)	(4,859)	(4,924)
Other comprehensive income (loss) before reclassifications	165	355	(371)	(789)
Net current period comprehensive income (loss)	165	355	(371)	(789)
End of the period	(5,230)	(5,713)	(5,230)	(5,713)
Net Actuarial (Losses) and Prior Service (Costs) and Credits
Changes in accumulated other comprehensive income (loss), net of income taxes
Beginning of the period	(3,786)	(3,483)	(3,871)	(3,540)
Other comprehensive income (loss) before reclassifications	(12)	(9)	10	(2)
Amounts reclassified from accumulated other comprehensive income	60	46	123	96
Net current period comprehensive income (loss)	48	37	133	94
End of the period	(3,738)	(3,446)	(3,738)	(3,446)
Cumulative Gains (Losses) on Derivative Instruments Designated as Cash Flow Hedges
Changes in accumulated other comprehensive income (loss), net of income taxes
Beginning of the period	(104)	165	(216)	(1)
Other comprehensive income (loss) before reclassifications	(28)	(67)	68	109
Amounts reclassified from accumulated other comprehensive income	34	(19)	50	(29)
Net current period comprehensive income (loss)	6	(86)	118	80
End of the period	$ (98)	$ 79	$ (98)	$ 79

Goodwill and Intangible Assets

Goodwill and Intangible Assets - Goodwill (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Goodwill and Intangible Assets
Goodwill	$ 23,485	$ 23,744
Decrease in goodwill from foreign currency translation adjustments	259
Amount of reductions of goodwill relating to impairments	0
Established Pharmaceutical Products
Goodwill and Intangible Assets
Goodwill	2,900
Nutritional Products
Goodwill and Intangible Assets
Goodwill	286
Diagnostic Products
Goodwill and Intangible Assets
Goodwill	3,800
Medical Devices
Goodwill and Intangible Assets
Goodwill	$ 16,400

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Goodwill and Intangible Assets
Gross amount of amortizable intangible assets	$ 27,800	$ 27,800
Accumulated amortization of intangible assets	15,100	14,200
Increase (Decrease) in intangible assets due to foreign currency translation adjustments	(83)
Estimated annual amortization expense, intangible assets, 2021	2,000
Estimated annual amortization expense, intangible assets, 2022	2,000
Estimated annual amortization expense, intangible assets, 2023	1,900
Estimated annual amortization expense, intangible assets, 2024	1,900
Estimated annual amortization expense, intangible assets, 2025	1,900
Indefinite-lived intangible assets related to in-process R&D acquired in a business combination	947	$ 1,200
Established Pharmaceutical Products Segment
Goodwill and Intangible Assets
Impairment of amortizable intangible assets	$ 11

Restructuring Plans - Diagnosti

Restructuring Plans - Diagnostic Products segment (Details) - COVID-19 Test Manufacturing Network Restructuring Plan $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2021USD ($)
Restructuring costs
Restructuring charges	$ 499	$ 499
Payments		(19)
Other-non-cash		(328)
Restructuring reserve	152	152
Minimum
Restructuring costs
Estimated pre tax restructuring cost	500	500
Maximum
Restructuring costs
Estimated pre tax restructuring cost	625	625
Fixed asset write-downs
Restructuring costs
Restructuring charges	80	80
Other-non-cash		(80)
Fixed asset write-downs | Minimum
Restructuring costs
Estimated pre tax restructuring cost	80	80
Fixed asset write-downs | Maximum
Restructuring costs
Estimated pre tax restructuring cost	115	115
Inventory-related charges
Restructuring costs
Restructuring charges	248	248
Other-non-cash		(248)
Inventory-related charges | Minimum
Restructuring costs
Estimated pre tax restructuring cost	250	250
Inventory-related charges | Maximum
Restructuring costs
Estimated pre tax restructuring cost	260	260
Other exit costs
Restructuring costs
Restructuring charges	171	171
Payments		(19)
Restructuring reserve	152	152
Other exit costs | Minimum
Restructuring costs
Estimated pre tax restructuring cost	170	170
Other exit costs | Maximum
Restructuring costs
Estimated pre tax restructuring cost	$ 250	$ 250

Restructuring Plans - St Jude a

Restructuring Plans - St Jude and Alere Integrations (Details) - St Jude and Alere Integrations $ in Millions	6 Months Ended
	Jun. 30, 2021USD ($)
Restructuring Reserve [Roll Forward]
Accrued balance at beginning of the period	$ 25
Restructuring charges recorded in 2021	4
Accrued balance at end of the period	15
Cost of products sold
Restructuring Reserve [Roll Forward]
Restructuring charges recorded in 2021	1
Selling, general and administrative expense
Restructuring Reserve [Roll Forward]
Restructuring charges recorded in 2021	$ 3

Restructuring Plans - Streamlin

Restructuring Plans - Streamline of Operations and Improve Efficiencies (Details) - Streamline of Operations and Improve Efficiencies $ in Millions	6 Months Ended
	Jun. 30, 2021USD ($)
Restructuring costs
Accrued balance at beginning of the period	$ 70
Restructuring charges recorded in 2021	1
Payments and other adjustments	(24)
Accrued balance at end of the period	47
Cost of products sold
Restructuring costs
Restructuring charges recorded in 2021	$ 1

Incentive Stock Programs - Gene

Incentive Stock Programs - General (Details)	6 Months Ended
	Jun. 30, 2021shares
Incentive Stock Program
Incentive stock program, shares reserved for future grants	101,000,000
Stock options
Incentive Stock Program
Stock options granted during the period (in shares)	2,730,398
Restricted stock awards
Incentive Stock Program
Grants in period, restricted stock (in shares)	478,490
Restricted stock units
Incentive Stock Program
Awards and units granted during period (in shares)	4,624,439

Incentive Stock Programs - Opti

Incentive Stock Programs - Options (Details) $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2021USD ($)$ / sharesshares
Incentive Stock Program
Total unrecognized compensation cost	$ 645
Total unrecognized compensation cost, recognition period	3 years
Stock options
Incentive Stock Program
Stock options outstanding, number of shares | shares	30,091,814
Exercisable options, number of shares | shares	23,273,096
Stock options outstanding, weighted-average remaining life	6 years
Exercisable options, weighted-average remaining life	5 years 2 months 12 days
Stock options outstanding, weighted-average exercise price (in dollars per share) | $ / shares	$ 62.45
Exercisable options, weighted-average exercise price (in dollars per share) | $ / shares	$ 51.56
Aggregate intrinsic value of options outstanding	$ 1,631
Aggregate intrinsic value of options exercisable	$ 1,498

Debt and Lines of Credit (Detai

Debt and Lines of Credit (Details) $ in Millions	Jun. 24, 2020USD ($)
Senior Notes
Debt and Lines of Credit
Debt issued - principal amount	$ 1,300
1.150% Notes due 2028
Debt and Lines of Credit
Interest rate percentage	1.15%
Debt issued - principal amount	$ 650
1.400% Notes due 2030
Debt and Lines of Credit
Interest rate percentage	1.40%
Debt issued - principal amount	$ 650

Financial Instruments, Deriva_3

Financial Instruments, Derivatives and Fair Value Measures - Contracts (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Designated as hedging instrument | Yen-denominated long-term debt | Net investment hedges
Financial Instruments, Derivatives and Fair Value Measures
Term loan	$ 540	$ 577
Debt Instrument, Term	5 years	5 years
Designated as hedging instrument | Foreign currency forward exchange contracts | Cash flow hedges
Financial Instruments, Derivatives and Fair Value Measures
Gross notional amount	$ 8,800	$ 8,100
Minimum length of time over which accumulated gains and losses will be recognized in Cost of products sold	12 months
Maximum length of time over which accumulated gains and losses will be recognized in Cost of products sold	18 months
Designated as hedging instrument | Interest rate swaps | Fair value hedges
Financial Instruments, Derivatives and Fair Value Measures
Gross notional amount	$ 2,900	2,900
Not designated as hedging instrument | Foreign currency forward exchange contracts
Financial Instruments, Derivatives and Fair Value Measures
Gross notional amount	$ 10,000	$ 11,000

Financial Instruments, Deriva_4

Financial Instruments, Derivatives and Fair Value Measures - Location of Derivative Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Derivative instruments and fair value
Fair Value - Assets	$ 284	$ 300
Fair Value - Liabilities	758	1,075
Designated as hedging instrument | Interest rate swaps | Deferred income taxes and other assets | Fair value hedges
Derivative instruments and fair value
Fair Value - Assets	143	210
Designated as hedging instrument | Foreign currency forward exchange contracts | Prepaid expenses and other receivables
Derivative instruments and fair value
Fair Value - Assets	98	30
Designated as hedging instrument | Foreign currency forward exchange contracts | Other accrued liabilities
Derivative instruments and fair value
Fair Value - Liabilities	151	433
Designated as hedging instrument | Debt | Long-term Debt | Net investment hedges
Derivative instruments and fair value
Fair Value - Liabilities	540	577
Not designated as hedging instrument | Foreign currency forward exchange contracts | Prepaid expenses and other receivables
Derivative instruments and fair value
Fair Value - Assets	43	60
Not designated as hedging instrument | Foreign currency forward exchange contracts | Other accrued liabilities
Derivative instruments and fair value
Fair Value - Liabilities	$ 67	$ 65

Financial Instruments, Deriva_5

Financial Instruments, Derivatives and Fair Value Measures - Gain or Loss (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Foreign currency forward exchange contracts | Not designated as hedging instrument
Gain (loss) on derivatives
Income (expense) and Gains (loss) Reclassified into Income	$ (16)	$ 67	$ 33	$ (98)
Foreign currency forward exchange contracts | Cash flow hedges | Designated as hedging instrument | Cost of products sold
Gain (loss) on derivatives
Gain (loss) Recognized in Other Comprehensive Income (loss)	(88)	(89)	46	138
Income (expense) and Gains (loss) Reclassified into Income	(92)	31	(115)	42
Debt | Net investment hedges | Designated as hedging instrument
Gain (loss) on derivatives
Gain (loss) Recognized in Other Comprehensive Income (loss)	2	(2)	37	(10)
Interest rate swaps | Fair value hedges | Designated as hedging instrument | Interest expense
Gain (loss) on derivatives
Income (expense) and Gains (loss) Reclassified into Income	$ 2	$ 27	$ (67)	$ 195

Financial Instruments, Deriva_6

Financial Instruments, Derivatives and Fair Value Measures - Carrying Value and Fair Value (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Fair value, asset and liability measures
Long-term Investments	$ 805	$ 821
Equity securities
Fair value, asset and liability measures
Long-term Investments	754	776
Carrying Value
Fair value, asset and liability measures
Total Long-Term debt	(18,302)	(18,534)
Foreign currency forward exchange contracts, receivable position	141	90
Foreign currency forward exchange contracts, (payable) position	(218)	(498)
Interest rate hedge contracts, receivable position	143	210
Carrying Value | Equity securities
Fair value, asset and liability measures
Long-term Investments	754	776
Carrying Value | Other
Fair value, asset and liability measures
Long-term Investments	51	45
Fair Value
Fair value, asset and liability measures
Total Long-Term debt	(21,592)	(22,809)
Foreign currency forward exchange contracts, receivable position	141	90
Foreign currency forward exchange contracts, (payable) position	(218)	(498)
Interest rate hedge contracts, receivable position	143	210
Fair Value | Equity securities
Fair value, asset and liability measures
Long-term Investments	754	776
Fair Value | Other
Fair value, asset and liability measures
Long-term Investments	$ 51	$ 45

Financial Instruments, Deriva_7

Financial Instruments, Derivatives and Fair Value Measures - Bases of Measurement (Details) - Recurring - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Fair value, asset and liability measures
Equity securities	$ 403	$ 386
Interest rate swap derivative financial instruments	143	210
Foreign currency forward exchange contracts	141	90
Total Assets	687	686
Fair value of hedged long-term debt	2,982	3,049
Foreign currency forward exchange contracts	218	498
Contingent consideration related to business combinations	67	68
Total Liabilities	3,267	3,615
Quoted Prices in Active Markets
Fair value, asset and liability measures
Equity securities	403	386
Total Assets	403	386
Significant Other Observable Inputs
Fair value, asset and liability measures
Interest rate swap derivative financial instruments	143	210
Foreign currency forward exchange contracts	141	90
Total Assets	284	300
Fair value of hedged long-term debt	2,982	3,049
Foreign currency forward exchange contracts	218	498
Total Liabilities	3,200	3,547
Significant Unobservable Inputs
Fair value, asset and liability measures
Contingent consideration related to business combinations	67	68
Total Liabilities	$ 67	$ 68

Litigation and Environmental _2

Litigation and Environmental Matters (Details) $ in Millions	Jun. 30, 2021USD ($)
Loss Contingencies
Maximum expected cleanup exposure for individual site	$ 4
Maximum expected cleanup exposure in aggregate	10
Legal proceedings and environmental exposures
Loss Contingencies
Recorded accrual balance for legal proceedings and exposures	265
Legal proceedings and environmental exposures | Minimum
Loss Contingencies
Estimation of possible loss	255
Legal proceedings and environmental exposures | Maximum
Loss Contingencies
Estimation of possible loss	$ 280

Post-Employment Benefits - (Det

Post-Employment Benefits - (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Defined Benefit Plans
Defined benefit plan net periodic benefit cost
Service cost - benefits earned during the period	$ 96	$ 81	$ 196	$ 166
Interest cost on projected benefit obligations	62	74	124	149
Expected return on plan assets	(211)	(191)	(422)	(383)
Net amortization of:
Actuarial loss, net	78	64	159	127
Prior service cost (credit)	1	1	1	1
Net cost - continuing operations	26	29	58	60
Post-employment Obligations and Other Long-term Liabilities:
Company contributions			80	335
Medical and Dental Plans
Defined benefit plan net periodic benefit cost
Service cost - benefits earned during the period	14	11	28	23
Interest cost on projected benefit obligations	9	9	17	21
Expected return on plan assets	(7)	(7)	(14)	(14)
Net amortization of:
Actuarial loss, net	7	2	14	10
Prior service cost (credit)	(7)	(7)	(14)	(14)
Net cost - continuing operations	$ 16	$ 8	31	26
Post-employment Obligations and Other Long-term Liabilities:
Company contributions			$ 0	$ 11

Taxes on Earnings (Details)

Taxes on Earnings (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Taxes on Earnings
Tax benefits related to the settlement of the former St. Jude Medical consolidated group's 2014 through 2016 federal income tax returns in the U.S.		$ 81
Excess tax benefits associated with share-based compensation	$ (90)	(67)
Net tax benefits primarily as a result of the resolution of various tax positions related to prior years related to discontinued operation		$ 20
Decrease reasonably possible in gross unrecognized tax benefits	$ 80

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Information
Net sales	$ 10,223	$ 7,328	$ 20,679	$ 15,054
Operating Earnings	1,392	672	3,501	1,430
Amortization of intangible assets	(504)	(553)	(1,013)	(1,114)
Earnings from continuing operations before taxes	1,348	526	$ 3,391	1,159
Annual share-based awards recognized in first quarter (as a percent)			50.00%
COVID-19 Test Manufacturing Network Restructuring Plan
Segment Information
Restructuring charges	499		$ 499
Established Pharmaceutical Products
Segment Information
Net sales	1,180	1,013	2,250	2,057
Nutritional Products
Segment Information
Net sales	2,108	1,883	4,144	3,787
Diagnostic Products
Segment Information
Net sales	3,247	1,994	7,261	3,820
Medical Devices
Segment Information
Net sales	3,666	2,423	6,986	5,360
Other
Segment Information
Net sales	22	15	38	30
Total Reportable Segment Operating Earnings
Segment Information
Net sales	10,201	7,313	20,641	15,024
Operating Earnings	2,994	1,593	6,338	3,441
Total Reportable Segment Operating Earnings | Established Pharmaceutical Products
Segment Information
Net sales	1,180	1,013	2,250	2,057
Operating Earnings	220	206	389	387
Total Reportable Segment Operating Earnings | Nutritional Products
Segment Information
Net sales	2,108	1,883	4,144	3,787
Operating Earnings	490	474	957	933
Total Reportable Segment Operating Earnings | Diagnostic Products
Segment Information
Net sales	3,247	1,994	7,261	3,820
Operating Earnings	1,076	522	2,777	927
Total Reportable Segment Operating Earnings | Medical Devices
Segment Information
Net sales	3,666	2,423	6,986	5,360
Operating Earnings	1,208	391	2,215	1,194
Reconciling items
Segment Information
Corporate functions and benefit plans costs	(132)	(106)	(246)	(238)
Net interest expense	(123)	(125)	(247)	(246)
Share-based compensation	(132)	(115)	(420)	(348)
Amortization of intangible assets	(504)	(553)	(1,013)	(1,114)
Other, net	$ (755)	$ (168)	$ (1,021)	$ (336)