Abbott Laboratories (ABT) 10-Q 1 Nov 22 2022 Q3 Quarterly report Financial data

Cover

Cover	9 Months Ended
	Sep. 30, 2022 shares
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	1-2189
Entity Registrant Name	ABBOTT LABORATORIES
Entity Incorporation, State or Country Code	IL
Entity Tax Identification Number	36-0698440
Entity Address, Address Line One	100 Abbott Park Road
Entity Address, City or Town	Abbott Park
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60064-6400
City Area Code	224
Local Phone Number	667-6100
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	1,743,573,777
Entity Central Index Key	0000001800
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false
NEW YORK STOCK EXCHANGE, INC.
Document and Entity Information
Title of 12(b) Security	Common Shares, Without Par Value
Trading Symbol	ABT
Security Exchange Name	NYSE
CHICAGO STOCK EXCHANGE, INC
Document and Entity Information
Title of 12(b) Security	Common Shares, Without Par Value
Trading Symbol	ABT
Security Exchange Name	CHX

Condensed Consolidated Statemen

Condensed Consolidated Statement of Earnings (Unaudited) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Net sales	$ 10,410	$ 10,928	$ 33,562	$ 31,607
Cost of products sold, excluding amortization of intangible assets	4,629	4,423	14,549	13,771
Amortization of intangible assets	498	520	1,517	1,533
Research and development	782	672	2,163	1,980
Selling, general and administrative	2,731	2,767	8,275	8,276
Total operating cost and expenses	8,640	8,382	26,504	25,560
Operating earnings	1,770	2,546	7,058	6,047
Interest expense	141	133	404	402
Interest (income)	(55)	(10)	(95)	(32)
Net foreign exchange (gain) loss	19	4	16	7
Other (income) expense, net	(93)	(74)	(253)	(214)
Earnings before taxes	1,758	2,493	6,986	5,884
Taxes on earnings	323	393	1,086	802
Net Earnings	$ 1,435	$ 2,100	$ 5,900	$ 5,082
Basic Earnings Per Common Share (in dollars per share)	$ 0.82	$ 1.18	$ 3.35	$ 2.85
Diluted Earnings Per Common Share (in dollars per share)	$ 0.81	$ 1.17	$ 3.32	$ 2.83
Average Number of Common Shares Outstanding Used for Basic Earnings Per Common Share (in shares)	1,752,968	1,774,516	1,756,209	1,776,870
Dilutive Common Stock Options (in shares)	10,685	14,483	11,638	14,407
Average Number of Common Shares Outstanding Plus Dilutive Common Stock Options (in shares)	1,763,653	1,788,999	1,767,847	1,791,277
Outstanding Common Stock Options Having No Dilutive Effect (in shares)	5,445	2,740	2,655	2,694

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net earnings	$ 1,435	$ 2,100	$ 5,900	$ 5,082
Foreign currency translation gain (loss) adjustments	(1,008)	(391)	(1,429)	(762)
Net actuarial gains (losses) and amortization of net actuarial losses and prior service costs and credits, net of taxes of $11 and $36 in 2022 and $18 and $54 in 2021	56	78	172	211
Net gains (losses) for derivative instruments designated as cash flow hedges and other, net of taxes of $50 and $96 in 2022 and $50 and $98 in 2021	213	139	186	257
Other comprehensive income (loss)	(739)	(174)	(1,071)	(294)
Comprehensive Income	696	$ 1,926	4,829	$ 4,788
Supplemental Accumulated Other Comprehensive Income (Loss) Information, net of tax:
Cumulative foreign currency translation (loss) adjustments	(7,268)		(7,268)		$ (5,839)
Net actuarial (losses) and prior service (costs) and credits	(2,498)		(2,498)		(2,670)
Cumulative gains (losses) on derivative instruments designated as cash flow hedges and other	321		321		135
Accumulated other comprehensive income (loss)	$ (9,445)		$ (9,445)		$ (8,374)

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Other comprehensive (income) loss, defined benefit plan, after reclassification adjustment, tax	$ 11	$ 18	$ 36	$ 54
Other comprehensive income (loss), cash flow hedge, gain (loss), after reclassification, tax	$ 50	$ 50	$ 96	$ 98

Condensed Consolidated Balance

Condensed Consolidated Balance Sheet (Unaudited) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Current Assets:
Cash and cash equivalents	$ 9,594	$ 9,799
Short-term investments	313	450
Trade receivables, less allowances of $520 in 2022 and $519 in 2021	6,408	6,487
Inventories:
Finished products	3,407	3,081
Work in process	726	694
Materials	1,601	1,382
Total inventories	5,734	5,157
Prepaid expenses and other receivables	2,796	2,346
Total Current Assets	24,845	24,239
Investments	764	816
Property and equipment, at cost	19,306	19,364
Less: accumulated depreciation and amortization	10,617	10,405
Net property and equipment	8,689	8,959
Intangible assets, net of amortization	10,850	12,739
Goodwill	22,284	23,231
Deferred income taxes and other assets	5,369	5,212
Total Assets	72,801	75,196
Current Liabilities:
Trade accounts payable	4,133	4,408
Salaries, wages and commissions	1,426	1,625
Other accrued liabilities	5,475	5,181
Dividends payable	820	831
Income taxes payable	394	306
Current portion of long-term debt	1,117	754
Total Current Liabilities	13,365	13,105
Long-term debt	15,297	17,296
Post-employment obligations, deferred income taxes and other long-term liabilities	8,255	8,771
Commitments and Contingencies
Shareholders’ Investment:
Preferred shares, one dollar par value Authorized — 1,000,000 shares, none issued	0	0
Common shares, without par value Authorized — 2,400,000,000 shares Issued at stated capital amount — Shares: 2022: 1,985,919,440; 2021: 1,985,273,421	24,560	24,470
Common shares held in treasury, at cost — Shares: 2022: 242,345,663; 2021: 221,191,228	(14,555)	(11,822)
Earnings employed in the business	35,115	31,528
Accumulated other comprehensive income (loss)	(9,445)	(8,374)
Total Abbott Shareholders’ Investment	35,675	35,802
Noncontrolling Interests in Subsidiaries	209	222
Total Shareholders’ Investment	35,884	36,024
Total Liabilities and Shareholders' Investment	$ 72,801	$ 75,196

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheet (Unaudited) (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Trade receivables, allowances	$ 520	$ 519
Preferred shares, par value (in dollars per share)	$ 1	$ 1
Preferred shares, authorized (in shares)	1,000,000	1,000,000
Preferred shares, issued (in shares)	0	0
Common shares, authorized (in shares)	2,400,000,000	2,400,000,000
Common shares, issued (in shares)	1,985,919,440	1,985,273,421
Common shares held in treasury (in shares)	242,345,663	221,191,228

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Shareholders' Investment (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Increase (Decrease) in Shareholders' Investment
Beginning balance			$ 36,024
Net earnings	$ 1,435	$ 2,100	5,900	$ 5,082
Other comprehensive income (loss)	(739)	(174)	(1,071)	(294)
Ending balance	35,884		35,884
Common Stock
Increase (Decrease) in Shareholders' Investment
Beginning balance	24,429	24,153	24,470	24,145
Issued under incentive stock programs	12	26	36	91
Share-based compensation	123	113	572	536
Issuance of restricted stock awards	(4)	(7)	(518)	(487)
Ending balance	24,560	24,285	24,560	24,285
Treasury Stock, Common
Increase (Decrease) in Shareholders' Investment
Beginning balance	(13,720)	(10,340)	(11,822)	(10,042)
Issued under incentive stock programs	31	26	261	265
Purchased	(866)	(685)	(2,994)	(1,222)
Ending balance	(14,555)	(10,999)	(14,555)	(10,999)
Retained Earnings
Increase (Decrease) in Shareholders' Investment
Beginning balance	34,487	29,053	31,528	27,627
Net earnings	1,435	2,100	5,900	5,082
Cash dividends declared on common shares	(822)	(799)	(2,475)	(2,403)
Effect of common and treasury share transactions	15	22	162	70
Ending balance	35,115	30,376	35,115	30,376
AOCI Attributable to Parent
Increase (Decrease) in Shareholders' Investment
Beginning balance	(8,706)	(9,066)	(8,374)	(8,946)
Other comprehensive income (loss)	(739)	(174)	(1,071)	(294)
Ending balance	(9,445)	(9,240)	(9,445)	(9,240)
Noncontrolling Interest
Increase (Decrease) in Shareholders' Investment
Beginning balance	226	229	222	219
Noncontrolling Interests’ share of income, business combinations, net of distributions and share repurchases	(17)	(13)	(13)	(3)
Ending balance	$ 209	$ 216	$ 209	$ 216

Condensed Consolidated Statem_5

Condensed Consolidated Statement of Shareholders' Investment (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Increase (Decrease) in Shareholders' Investment
Beginning balance, treasury stock, common (in shares)			221,191,228
Ending balance, treasury stock, common (in shares)	242,345,663		242,345,663
Common Stock
Increase (Decrease) in Shareholders' Investment
Beginning balance (in shares)	1,985,676,735	1,982,553,488	1,985,273,421	1,981,156,896
Issued under incentive stock programs (in shares)	242,705	550,366	646,019	1,946,958
Ending balance (in shares)	1,985,919,440	1,983,103,854	1,985,919,440	1,983,103,854
Treasury Stock, Common
Increase (Decrease) in Shareholders' Investment
Beginning balance, treasury stock, common (in shares)	234,456,992	209,736,139	221,191,228	209,926,622
Issued under incentive stock programs (in shares)	528,436	545,860	4,808,575	5,524,291
Purchased (in shares)	8,417,107	5,626,606	25,963,010	10,414,554
Ending balance, treasury stock, common (in shares)	242,345,663	214,816,885	242,345,663	214,816,885
Retained Earnings
Increase (Decrease) in Shareholders' Investment
Cash dividends declared on common shares (in dollars per share)	$ 0.47	$ 0.45	$ 1.41	$ 1.35

Condensed Consolidated Statem_6

Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash Flow From (Used in) Operating Activities:
Net earnings	$ 5,900	$ 5,082
Adjustments to reconcile net earnings to net cash from operating activities —
Depreciation	943	1,122
Amortization of intangible assets	1,517	1,533
Share-based compensation	570	534
Trade receivables	(409)	(194)
Inventories	(1,224)	(471)
Other, net	(42)	(140)
Net Cash From Operating Activities	7,255	7,466
Cash Flow From (Used in) Investing Activities:
Acquisitions of property and equipment	(1,167)	(1,271)
Acquisitions of businesses and technologies, net of cash acquired	0	(187)
Proceeds from business dispositions	48	134
Sales (purchases) of other investment securities, net	(3)	(27)
Other	14	14
Net Cash From (Used in) Investing Activities	(1,108)	(1,337)
Cash Flow From (Used in) Financing Activities:
Net borrowings (repayments) of short-term debt and other	37	(7)
Proceeds from issuance of long-term debt	7	0
Repayments of long-term debt	(753)	(45)
Purchases of common shares	(3,110)	(1,325)
Proceeds from stock options exercised	126	173
Dividends paid	(2,486)	(2,404)
Net Cash From (Used in) Financing Activities	(6,179)	(3,608)
Effect of exchange rate changes on cash and cash equivalents	(173)	(57)
Net Increase (Decrease) in Cash and Cash Equivalents	(205)	2,464
Cash and Cash Equivalents, Beginning of Year	9,799	6,838
Cash and Cash Equivalents, End of Period	$ 9,594	$ 9,302

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
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, 2021. The condensed consolidated financial statements include the accounts of the parent company and subsidiaries, after elimination of intercompany transactions.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue	Note 2 — 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. The following tables provide detail by sales category: Three Months Ended September 30, 2022 Three Months Ended September 30, 2021 (in millions) U.S. Int’l Total U.S. Int’l Total Established Pharmaceutical Products — Key Emerging Markets $ — $ 993 $ 993 $ — $ 936 $ 936 Other — 333 333 — 329 329 Total — 1,326 1,326 — 1,265 1,265 Nutritionals — Pediatric Nutritionals 357 470 827 586 514 1,100 Adult Nutritionals 329 639 968 333 675 1,008 Total 686 1,109 1,795 919 1,189 2,108 Diagnostics — Core Laboratory 281 938 1,219 291 1,001 1,292 Molecular 65 118 183 162 183 345 Point of Care 92 35 127 100 35 135 Rapid Diagnostics 1,303 839 2,142 1,394 746 2,140 Total 1,741 1,930 3,671 1,947 1,965 3,912 Medical Devices — Rhythm Management 263 270 533 266 305 571 Electrophysiology 225 244 469 192 293 485 Heart Failure 177 51 228 170 59 229 Vascular 213 393 606 219 425 644 Structural Heart 207 213 420 177 215 392 Neuromodulation 156 36 192 149 41 190 Diabetes Care 423 744 1,167 323 798 1,121 Total 1,664 1,951 3,615 1,496 2,136 3,632 Other 3 — 3 6 5 11 Total $ 4,094 $ 6,316 $ 10,410 $ 4,368 $ 6,560 $ 10,928 Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 (in millions) U.S. Int’l Total U.S. Int’l Total Established Pharmaceutical Products — Key Emerging Markets $ — $ 2,826 $ 2,826 $ — $ 2,672 $ 2,672 Other — 870 870 — 843 843 Total — 3,696 3,696 — 3,515 3,515 Nutritionals — Pediatric Nutritionals 1,108 1,491 2,599 1,622 1,637 3,259 Adult Nutritionals 1,016 2,027 3,043 1,006 1,987 2,993 Total 2,124 3,518 5,642 2,628 3,624 6,252 Diagnostics — Core Laboratory 836 2,788 3,624 845 2,935 3,780 Molecular 308 507 815 431 651 1,082 Point of Care 284 110 394 289 112 401 Rapid Diagnostics 5,523 2,923 8,446 3,178 2,732 5,910 Total 6,951 6,328 13,279 4,743 6,430 11,173 Medical Devices — Rhythm Management 775 830 1,605 776 881 1,657 Electrophysiology 667 773 1,440 580 823 1,403 Heart Failure 523 167 690 483 167 650 Vascular 650 1,228 1,878 684 1,292 1,976 Structural Heart 604 667 1,271 537 654 1,191 Neuromodulation 456 112 568 460 124 584 Diabetes Care 1,165 2,320 3,485 865 2,292 3,157 Total 4,840 6,097 10,937 4,385 6,233 10,618 Other 8 — 8 31 18 49 Total $ 13,923 $ 19,639 $ 33,562 $ 11,787 $ 19,820 $ 31,607 Remaining Performance Obligations As of September 30, 2022, 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 $433 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 Financial Accounting Standards Board (FASB) 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. 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, 2021 $ 520 Unearned revenue from cash received during the period 466 Revenue recognized related to contract liability balance (508) Balance at September 30, 2022 $ 478

Supplemental Financial Informat

Supplemental Financial Information	9 Months Ended
	Sep. 30, 2022
Disclosure Text Block Supplement [Abstract]
Supplemental Financial Information	Note 3 — 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. Net earnings allocated to common shares for the three months ended September 30, 2022 and 2021 were $1.429 billion and $2.092 billion, respectively, and for the nine months ended September 30, 2022 and 2021 were $5.876 billion and $5.061 billion, respectively. Other, net in Net cash from operating activities in the Condensed Consolidated Statement of Cash Flows for the first nine months of 2022 includes $362 million of pension contributions and the payment of cash taxes of approximately $987 million. The first nine months of 2021 includes $366 million of pension contributions and the payment of cash taxes of approximately $990 million. The following summarizes the activity for the first nine months of 2022 related to the allowance for doubtful accounts as of September 30, 2022: (in millions) Allowance for Doubtful Accounts: Balance at December 31, 2021 $ 313 Provisions/charges to income 10 Amounts charged off and other deductions (49) Balance at September 30, 2022 $ 274 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 September 30, 2022 and December 31, 2021 are as follows: (in millions) September 30, December 31, Long-term Investments: Equity securities $ 604 $ 748 Other 160 68 Total $ 764 $ 816 The decrease in Abbott’s long-term investments as of September 30, 2022 versus the balance as of December 31, 2021 primarily relates to a decrease in the value of investments held in a rabbi trust and the impact of equity method investment losses partially offset by an investment in long-term time deposits. Abbott’s equity securities as of September 30, 2022, include $285 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 September 30, 2022 with a carrying value of $228 million that are accounted for under the equity method of accounting and other equity investments with a carrying value of approximately $83 million that do not have a readily determinable fair value. In September 2021, Abbott acquired 100 percent of Walk Vascular, LLC (Walk Vascular), a commercial-stage medical device company with a minimally invasive thrombectomy system designed to remove peripheral blood clots. The purchase price, the allocation of acquired assets and liabilities, and the revenue and net income contributed by Walk Vascular since the date of acquisition are not material to Abbott’s condensed consolidated financial statements.

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Changes in Accumulated Other Comprehensive Income (Loss)	Note 4 — 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 September 30 Cumulative Foreign Net Actuarial (Losses) and Cumulative Gains (Losses) (in millions) 2022 2021 2022 2021 2022 2021 Balance at June 30 $ (6,260) $ (5,230) $ (2,554) $ (3,738) $ 108 $ (98) Other comprehensive income (loss) before reclassifications (1,008) (391) 15 16 278 70 Amounts reclassified from accumulated other comprehensive income — — 41 62 (65) 69 Net current period comprehensive income (loss) (1,008) (391) 56 78 213 139 Balance at September 30 $ (7,268) $ (5,621) $ (2,498) $ (3,660) $ 321 $ 41 Nine Months Ended September 30 Cumulative Foreign Net Actuarial (Losses) and Cumulative Gains (Losses) (in millions) 2022 2021 2022 2021 2022 2021 Balance at January 1 $ (5,839) $ (4,859) $ (2,670) $ (3,871) $ 135 $ (216) Other comprehensive income (loss) before reclassifications (1,429) (762) 45 26 289 138 Amounts reclassified from accumulated other comprehensive income — — 127 185 (103) 119 Net current period comprehensive income (loss) (1,429) (762) 172 211 186 257 Balance at September 30 $ (7,268) $ (5,621) $ (2,498) $ (3,660) $ 321 $ 41 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 11 for additional details.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Note 5 — Goodwill and Intangible Assets The total amount of goodwill reported was $22.3 billion at September 30, 2022 and $23.2 billion at December 31, 2021. Foreign currency translation adjustments decreased goodwill by approximately $946 million in the first nine months of 2022. The amount of goodwill related to reportable segments at September 30, 2022 was $2.6 billion for the Established Pharmaceutical Products segment, $286 million for the Nutritional Products segment, $3.5 billion for the Diagnostic Products segment, and $15.9 billion for the Medical Devices segment. There was no reduction of goodwill relating to impairments in the first nine months of 2022. The gross amount of amortizable intangible assets, primarily product rights and technology, was $26.9 billion and $27.7 billion as of September 30, 2022 and December 31, 2021, respectively. Accumulated amortization was $16.9 billion and $15.9 billion as of September 30, 2022 and December 31, 2021, respectively. Foreign currency translation adjustments decreased intangible assets by $250 million in the first nine months of 2022. Abbott’s estimated annual amortization expense for intangible assets is approximately $2.1 billion in 2022, $2.0 billion in 2023, $1.9 billion in 2024, $1.7 billion in 2025 and $1.6 billion in 2026. Indefinite-lived intangible assets, which relate to in-process R&D (IPR&D) acquired in a business combination, were approximately $807 million as of September 30, 2022 and $919 million as of December 31, 2021. In the third quarter of 2022, $111 million of impairment charges were recorded on the Research and development line of the Condensed Consolidated Statement of Earnings related to certain IPR&D intangible assets associated with the Medical Devices business segment.

Restructuring Plans

Restructuring Plans	9 Months Ended
	Sep. 30, 2022
Restructuring and Related Activities [Abstract]
Restructuring Plans	Note 6 — 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 the second quarter 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. 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 of 2021 included fixed asset write-downs of $80 million, inventory-related charges of $248 million, and other exit costs, which included contract cancellations and employee-related costs of $171 million. In the second half of 2021, as the Delta and Omicron variants of COVID-19 spread and the number of new COVID-19 cases increased significantly, particularly in the U.S., demand for rapid COVID-19 tests increased significantly. As a result, in the second half of 2021, Abbott sold approximately $181 million of inventory that was previously estimated to have no net realizable value under the second quarter of 2021 restructuring action. In addition, the estimate of other exit costs was reduced by a net $58 million as Abbott fulfilled its purchase obligations under certain contracts for which a liability was recorded in the second quarter of 2021 or Abbott settled with the counterparty in the second half of 2021. The following summarizes the activity related to this restructuring action and the status of the related accruals as of September 30, 2022: (in millions) Inventory- Fixed Asset Other Exit Total Restructuring charges recorded in 2021 $ 248 $ 80 $ 113 $ 441 Payments — — (90) (90) Other non-cash (248) (80) — (328) Accrued balance at December 31, 2021 — — 23 23 Payments and other adjustments — — (10) (10) Accrued balance at September 30, 2022 $ — $ — $ 13 $ 13 In 2021, Abbott management approved plans to streamline operations in order to reduce costs and improve efficiencies in Abbott’s diagnostic, established pharmaceutical, and nutritional businesses. In 2022 and 2021, Abbott management approved plans to streamline operations in its medical devices segment. Abbott recorded employees-related severance and other charges of approximately $12 million in the first nine months of 2022 of which approximately $5 million was recorded in Cost of products sold, approximately $2 million was recorded in Research and development, and approximately $5 million was recorded in Selling, general and administrative expense. The following summarizes the activity for these restructurings: (in millions) Restructuring charges recorded in 2021 $ 68 Payments and other adjustments (7) Accrued balance at December 31, 2021 61 Restructuring charges recorded in 2022 12 Payments and other adjustments (39) Accrued balance at September 30, 2022 $ 34

Incentive Stock Program

Incentive Stock Program	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Incentive Stock Program	Note 7 — Incentive Stock Program In the first nine months of 2022, Abbott granted 2,634,647 stock options, 514,205 restricted stock awards and 5,427,697 restricted stock units under its incentive stock program. At September 30, 2022, approximately 87 million shares were reserved for future grants. Information regarding the number of options outstanding and exercisable at September 30, 2022 is as follows: Outstanding Exercisable Number of shares 29,048,449 23,310,464 Weighted average remaining life (years) 5.4 4.6 Weighted average exercise price $ 70.22 $ 59.69 Aggregate intrinsic value (in millions) $ 901 $ 890 The total unrecognized share-based compensation cost at September 30, 2022 amounted to approximately $600 million which is expected to be recognized over the next three years.

Debt and Lines of Credit

Debt and Lines of Credit	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Debt and Lines of Credit	Note 8 — Debt and Lines of Credit On March 15, 2022, Abbott repaid the $750 million outstanding principal amount of its 2.55% Notes upon maturity.

Financial Instruments, Derivati

Financial Instruments, Derivatives and Fair Value Measures	9 Months Ended
	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Instruments, Derivatives and Fair Value Measures	Note 9 — 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 $7.9 billion at September 30, 2022 and $8.6 billion at December 31, 2021, 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 September 30, 2022 will be included in Cost of products sold at the time the products are sold, generally through the next twelve 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 September 30, 2022 and December 31, 2021, Abbott held the gross notional amounts of $10.3 billion and $12.2 billion, respectively, of such foreign currency forward exchange contracts. Abbott has designated a yen-denominated, 5-year term loan of approximately $413 million and $521 million as of September 30, 2022 and December 31, 2021, 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 with notional values totaling approximately $2.9 billion at September 30, 2022 and December 31, 2021 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 September 30, 2022 and December 31, 2021: Fair Value - Assets Fair Value - Liabilities (in millions) September 30, Dec. 31, Balance Sheet Caption September 30, Dec. 31, Balance Sheet Caption Interest rate swaps designated as fair value hedges $ — $ 87 Deferred income taxes and other assets $ 166 $ — Post-employment obligations, deferred income taxes and other long-term liabilities Foreign currency forward exchange contracts: Hedging instruments 760 222 Prepaid expenses and other receivables 66 65 Other accrued liabilities Others not designated as hedges 148 70 Prepaid expenses and other receivables 141 32 Other accrued liabilities Debt designated as a hedge of net investment in a foreign subsidiary — — n/a 413 521 Long-term debt $ 908 $ 379 $ 786 $ 618 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 nine months ended September 30, 2022 and 2021. Gain (loss) Recognized in Other Income (expense) and Gain (loss) Three Months Nine Months Three Months Nine Months (in millions) 2022 2021 2022 2021 2022 2021 2022 2021 Income Statement Caption Foreign currency forward exchange contracts designated as cash flow hedges $ 350 $ 96 $ 442 $ 142 $ 79 $ (92) $ 149 $ (207) Cost of products sold Debt designated as a hedge of net investment in a foreign subsidiary 24 4 108 41 — — — — n/a Interest rate swaps designated as fair value hedges n/a n/a n/a n/a (85) (14) (253) (81) Interest expense Losses of $27 million and $18 million were recognized in the three months ended September 30, 2022 and 2021, respectively, related to foreign currency forward exchange contracts not designated as a hedge. Gains of $225 million and $15 million were recognized in the nine months ended September 30, 2022 and 2021, 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 September 30, 2022 and December 31, 2021 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. September 30, 2022 December 31, 2021 (in millions) Carrying Fair Carrying Fair Long-term Investment Securities: Equity securities $ 604 $ 604 $ 748 $ 748 Other 160 160 68 68 Total Long-term Debt (16,414) (15,821) (18,050) (21,152) Foreign Currency Forward Exchange Contracts: Receivable position 908 908 292 292 (Payable) position (207) (207) (97) (97) Interest Rate Hedge Contracts: Receivable position — — 87 87 (Payable) position (166) (166) — — The fair value of the debt was determined based on significant other observable inputs, including current interest rates. 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 (in millions) Outstanding Quoted Significant Significant September 30, 2022: Equity securities $ 293 $ 293 $ — $ — Foreign currency forward exchange contracts 908 — 908 — Total Assets $ 1,201 $ 293 $ 908 $ — Fair value of hedged long-term debt $ 2,685 $ — $ 2,685 $ — Interest rate swap derivative financial instruments 166 — 166 — Foreign currency forward exchange contracts 207 — 207 — Contingent consideration related to business combinations 138 — — 138 Total Liabilities $ 3,196 $ — $ 3,058 $ 138 December 31, 2021: Equity securities $ 402 $ 402 $ — $ — Interest rate swap derivative financial instruments 87 — 87 — Foreign currency forward exchange contracts 292 — 292 — Total Assets $ 781 $ 402 $ 379 $ — Fair value of hedged long-term debt $ 2,926 $ — $ 2,926 $ — Foreign currency forward exchange contracts 97 — 97 — Contingent consideration related to business combinations 130 — — 130 Total Liabilities $ 3,153 $ — $ 3,023 $ 130 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	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Litigation and Environmental Matters	Note 10 — 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.

Post-Employment Benefits

Post-Employment Benefits	9 Months Ended
	Sep. 30, 2022
Postemployment Benefits [Abstract]
Post-Employment Benefits	Note 11 — 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 for the three and nine months ended September 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 Nine Months Three Months Nine Months (in millions) 2022 2021 2022 2021 2022 2021 2022 2021 Service cost - benefits earned during the period $ 92 $ 98 $ 282 $ 294 $ 13 $ 14 $ 38 $ 42 Interest cost on projected benefit obligations 74 62 225 186 9 8 27 25 Expected return on plan assets (231) (211) (701) (633) (8) (6) (23) (20) Net amortization of: Actuarial loss, net 58 79 174 238 2 7 8 21 Prior service cost (credit) — — 1 1 (6) (7) (18) (21) Net cost (credit) $ (7) $ 28 $ (19) $ 86 $ 10 $ 16 $ 32 $ 47 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 nine months of 2022 and 2021, $362 million and $366 million, respectively, were contributed to defined benefit plans. In the first nine months of 2022 and 2021, $28 million and $26 million, respectively ,

Taxes on Earnings

Taxes on Earnings	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Taxes on Earnings	Note 12 — Taxes on Earnings Taxes on earnings reflect the estimated annual effective rates and include charges for interest and penalties. In the first nine months of 2022 and 2021, taxes on earnings include approximately $36 million and $97 million, respectively, in excess tax benefits associated with share-based compensation. In the first nine months of 2022, taxes on earnings also include approximately $20 million of tax expense as the 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 $75 million to $100 million, including cash adjustments, within the next twelve months as a result of concluding various domestic and international tax matters.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Segment Information	Note 13 — 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 — International sales of a broad line of branded generic pharmaceutical products. Nutritional Products — Worldwide sales of a broad line of adult and pediatric nutritional products. Diagnostic Products — Worldwide sales of diagnostic systems and tests for blood banks, hospitals, commercial laboratories, physician offices and alternate-care testing sites. For segment reporting purposes, the Core Laboratory Diagnostics, Rapid Diagnostics, Molecular Diagnostics and Point of Care Diagnostics divisions are aggregated and reported as the Diagnostic Products segment. Medical Devices — Worldwide sales of rhythm management, electrophysiology, heart failure, vascular, structural heart, neuromodulation and diabetes care products. For segment reporting purposes, the Cardiac Rhythm Management, Electrophysiology, Heart Failure, Vascular, Structural Heart, Neuromodulation and Diabetes Care divisions are aggregated and reported as the Medical Devices segment. 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. 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 Nine Months Three Months Nine Months (in millions) 2022 2021 2022 2021 2022 2021 2022 2021 Established Pharmaceutical Products $ 1,326 $ 1,265 $ 3,696 $ 3,515 $ 331 $ 293 $ 831 $ 682 Nutritional Products 1,795 2,108 5,642 6,252 69 431 550 1,388 Diagnostic Products 3,671 3,912 13,279 11,173 1,352 1,652 5,631 4,429 Medical Devices 3,615 3,632 10,937 10,618 1,039 1,160 3,272 3,375 Total Reportable Segments 10,407 10,917 33,554 31,558 2,791 3,536 10,284 9,874 Other 3 11 8 49 Net sales $ 10,410 $ 10,928 $ 33,562 $ 31,607 Corporate functions and benefit plan costs (115) (204) (352) (450) Net interest expense (86) (123) (309) (370) Share-based compensation (a) (123) (114) (570) (534) Amortization of intangible assets (498) (520) (1,517) (1,533) Other, net (b) (211) (82) (550) (1,103) Earnings before taxes $ 1,758 $ 2,493 $ 6,986 $ 5,884 ______________________________________ (a) Approximately 45 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 nine months ended September 30, 2022 includes $10 million and $172 million, respectively, of charges related to a voluntary recall within the Nutritional Products segment and $111 million of charges related to the impairment of IPR&D intangible assets. Other, net for the three and nine months ended September 30, 2022 and 2021 also includes integration costs associated with the acquisition of Alere and restructuring charges. Restructuring charges in 2021 include Abbott’s restructuring plan for its COVID-19 test manufacturing network. Other, net for the nine months ended September 30, 2021 also includes costs related to certain litigation.

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Schedule of reportable segment included under sales category	The following tables provide detail by sales category: Three Months Ended September 30, 2022 Three Months Ended September 30, 2021 (in millions) U.S. Int’l Total U.S. Int’l Total Established Pharmaceutical Products — Key Emerging Markets $ — $ 993 $ 993 $ — $ 936 $ 936 Other — 333 333 — 329 329 Total — 1,326 1,326 — 1,265 1,265 Nutritionals — Pediatric Nutritionals 357 470 827 586 514 1,100 Adult Nutritionals 329 639 968 333 675 1,008 Total 686 1,109 1,795 919 1,189 2,108 Diagnostics — Core Laboratory 281 938 1,219 291 1,001 1,292 Molecular 65 118 183 162 183 345 Point of Care 92 35 127 100 35 135 Rapid Diagnostics 1,303 839 2,142 1,394 746 2,140 Total 1,741 1,930 3,671 1,947 1,965 3,912 Medical Devices — Rhythm Management 263 270 533 266 305 571 Electrophysiology 225 244 469 192 293 485 Heart Failure 177 51 228 170 59 229 Vascular 213 393 606 219 425 644 Structural Heart 207 213 420 177 215 392 Neuromodulation 156 36 192 149 41 190 Diabetes Care 423 744 1,167 323 798 1,121 Total 1,664 1,951 3,615 1,496 2,136 3,632 Other 3 — 3 6 5 11 Total $ 4,094 $ 6,316 $ 10,410 $ 4,368 $ 6,560 $ 10,928 Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 (in millions) U.S. Int’l Total U.S. Int’l Total Established Pharmaceutical Products — Key Emerging Markets $ — $ 2,826 $ 2,826 $ — $ 2,672 $ 2,672 Other — 870 870 — 843 843 Total — 3,696 3,696 — 3,515 3,515 Nutritionals — Pediatric Nutritionals 1,108 1,491 2,599 1,622 1,637 3,259 Adult Nutritionals 1,016 2,027 3,043 1,006 1,987 2,993 Total 2,124 3,518 5,642 2,628 3,624 6,252 Diagnostics — Core Laboratory 836 2,788 3,624 845 2,935 3,780 Molecular 308 507 815 431 651 1,082 Point of Care 284 110 394 289 112 401 Rapid Diagnostics 5,523 2,923 8,446 3,178 2,732 5,910 Total 6,951 6,328 13,279 4,743 6,430 11,173 Medical Devices — Rhythm Management 775 830 1,605 776 881 1,657 Electrophysiology 667 773 1,440 580 823 1,403 Heart Failure 523 167 690 483 167 650 Vascular 650 1,228 1,878 684 1,292 1,976 Structural Heart 604 667 1,271 537 654 1,191 Neuromodulation 456 112 568 460 124 584 Diabetes Care 1,165 2,320 3,485 865 2,292 3,157 Total 4,840 6,097 10,937 4,385 6,233 10,618 Other 8 — 8 31 18 49 Total $ 13,923 $ 19,639 $ 33,562 $ 11,787 $ 19,820 $ 31,607
Schedule of changes in contract liabilities	Changes in the contract liabilities during the period are as follows: (in millions) Contract Liabilities: Balance at December 31, 2021 $ 520 Unearned revenue from cash received during the period 466 Revenue recognized related to contract liability balance (508) Balance at September 30, 2022 $ 478

Supplemental Financial Inform_2

Supplemental Financial Information (Tables)	9 Months Ended
	Sep. 30, 2022
Disclosure Text Block Supplement [Abstract]
Summary of activity of allowance for doubtful accounts	The following summarizes the activity for the first nine months of 2022 related to the allowance for doubtful accounts as of September 30, 2022: (in millions) Allowance for Doubtful Accounts: Balance at December 31, 2021 $ 313 Provisions/charges to income 10 Amounts charged off and other deductions (49) Balance at September 30, 2022 $ 274
Schedule of long-term investments	The components of long-term investments as of September 30, 2022 and December 31, 2021 are as follows: (in millions) September 30, December 31, Long-term Investments: Equity securities $ 604 $ 748 Other 160 68 Total $ 764 $ 816

Changes in Accumulated Other _2

Changes in Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of accumulated other comprehensive income (loss), net of taxes	The changes in accumulated other comprehensive income (loss), net of income taxes, are as follows: Three Months Ended September 30 Cumulative Foreign Net Actuarial (Losses) and Cumulative Gains (Losses) (in millions) 2022 2021 2022 2021 2022 2021 Balance at June 30 $ (6,260) $ (5,230) $ (2,554) $ (3,738) $ 108 $ (98) Other comprehensive income (loss) before reclassifications (1,008) (391) 15 16 278 70 Amounts reclassified from accumulated other comprehensive income — — 41 62 (65) 69 Net current period comprehensive income (loss) (1,008) (391) 56 78 213 139 Balance at September 30 $ (7,268) $ (5,621) $ (2,498) $ (3,660) $ 321 $ 41 Nine Months Ended September 30 Cumulative Foreign Net Actuarial (Losses) and Cumulative Gains (Losses) (in millions) 2022 2021 2022 2021 2022 2021 Balance at January 1 $ (5,839) $ (4,859) $ (2,670) $ (3,871) $ 135 $ (216) Other comprehensive income (loss) before reclassifications (1,429) (762) 45 26 289 138 Amounts reclassified from accumulated other comprehensive income — — 127 185 (103) 119 Net current period comprehensive income (loss) (1,429) (762) 172 211 186 257 Balance at September 30 $ (7,268) $ (5,621) $ (2,498) $ (3,660) $ 321 $ 41

Restructuring Plans (Tables)

Restructuring Plans (Tables)	9 Months Ended
	Sep. 30, 2022
Restructuring and Related Activities [Abstract]
Schedule of restructuring reserve and related cost	The following summarizes the activity related to this restructuring action and the status of the related accruals as of September 30, 2022: (in millions) Inventory- Fixed Asset Other Exit Total Restructuring charges recorded in 2021 $ 248 $ 80 $ 113 $ 441 Payments — — (90) (90) Other non-cash (248) (80) — (328) Accrued balance at December 31, 2021 — — 23 23 Payments and other adjustments — — (10) (10) Accrued balance at September 30, 2022 $ — $ — $ 13 $ 13
Summary of restructuring activity	The following summarizes the activity for these restructurings: (in millions) Restructuring charges recorded in 2021 $ 68 Payments and other adjustments (7) Accrued balance at December 31, 2021 61 Restructuring charges recorded in 2022 12 Payments and other adjustments (39) Accrued balance at September 30, 2022 $ 34

Incentive Stock Program (Tables

Incentive Stock Program (Tables)	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of stock options outstanding and exercisable	Information regarding the number of options outstanding and exercisable at September 30, 2022 is as follows: Outstanding Exercisable Number of shares 29,048,449 23,310,464 Weighted average remaining life (years) 5.4 4.6 Weighted average exercise price $ 70.22 $ 59.69 Aggregate intrinsic value (in millions) $ 901 $ 890

Financial Instruments, Deriva_2

Financial Instruments, Derivatives and Fair Value Measures (Tables)	9 Months Ended
	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of the amounts and location of certain derivative financial instruments	The following table summarizes the amounts and location of certain derivative financial instruments as of September 30, 2022 and December 31, 2021: Fair Value - Assets Fair Value - Liabilities (in millions) September 30, Dec. 31, Balance Sheet Caption September 30, Dec. 31, Balance Sheet Caption Interest rate swaps designated as fair value hedges $ — $ 87 Deferred income taxes and other assets $ 166 $ — Post-employment obligations, deferred income taxes and other long-term liabilities Foreign currency forward exchange contracts: Hedging instruments 760 222 Prepaid expenses and other receivables 66 65 Other accrued liabilities Others not designated as hedges 148 70 Prepaid expenses and other receivables 141 32 Other accrued liabilities Debt designated as a hedge of net investment in a foreign subsidiary — — n/a 413 521 Long-term debt $ 908 $ 379 $ 786 $ 618
Schedule of derivatives gain (loss) in OCI and earnings	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 nine months ended September 30, 2022 and 2021. Gain (loss) Recognized in Other Income (expense) and Gain (loss) Three Months Nine Months Three Months Nine Months (in millions) 2022 2021 2022 2021 2022 2021 2022 2021 Income Statement Caption Foreign currency forward exchange contracts designated as cash flow hedges $ 350 $ 96 $ 442 $ 142 $ 79 $ (92) $ 149 $ (207) Cost of products sold Debt designated as a hedge of net investment in a foreign subsidiary 24 4 108 41 — — — — n/a Interest rate swaps designated as fair value hedges n/a n/a n/a n/a (85) (14) (253) (81) Interest expense
Schedule of carrying values and fair values of certain financial instruments	The carrying values and fair values of certain financial instruments as of September 30, 2022 and December 31, 2021 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. September 30, 2022 December 31, 2021 (in millions) Carrying Fair Carrying Fair Long-term Investment Securities: Equity securities $ 604 $ 604 $ 748 $ 748 Other 160 160 68 68 Total Long-term Debt (16,414) (15,821) (18,050) (21,152) Foreign Currency Forward Exchange Contracts: Receivable position 908 908 292 292 (Payable) position (207) (207) (97) (97) Interest Rate Hedge Contracts: Receivable position — — 87 87 (Payable) position (166) (166) — —
Schedule of assets and liabilities measured at fair value on a recurring basis	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 (in millions) Outstanding Quoted Significant Significant September 30, 2022: Equity securities $ 293 $ 293 $ — $ — Foreign currency forward exchange contracts 908 — 908 — Total Assets $ 1,201 $ 293 $ 908 $ — Fair value of hedged long-term debt $ 2,685 $ — $ 2,685 $ — Interest rate swap derivative financial instruments 166 — 166 — Foreign currency forward exchange contracts 207 — 207 — Contingent consideration related to business combinations 138 — — 138 Total Liabilities $ 3,196 $ — $ 3,058 $ 138 December 31, 2021: Equity securities $ 402 $ 402 $ — $ — Interest rate swap derivative financial instruments 87 — 87 — Foreign currency forward exchange contracts 292 — 292 — Total Assets $ 781 $ 402 $ 379 $ — Fair value of hedged long-term debt $ 2,926 $ — $ 2,926 $ — Foreign currency forward exchange contracts 97 — 97 — Contingent consideration related to business combinations 130 — — 130 Total Liabilities $ 3,153 $ — $ 3,023 $ 130

Post-Employment Benefits (Table

Post-Employment Benefits (Tables)	9 Months Ended
	Sep. 30, 2022
Postemployment Benefits [Abstract]
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	Net cost recognized for the three and nine months ended September 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 Nine Months Three Months Nine Months (in millions) 2022 2021 2022 2021 2022 2021 2022 2021 Service cost - benefits earned during the period $ 92 $ 98 $ 282 $ 294 $ 13 $ 14 $ 38 $ 42 Interest cost on projected benefit obligations 74 62 225 186 9 8 27 25 Expected return on plan assets (231) (211) (701) (633) (8) (6) (23) (20) Net amortization of: Actuarial loss, net 58 79 174 238 2 7 8 21 Prior service cost (credit) — — 1 1 (6) (7) (18) (21) Net cost (credit) $ (7) $ 28 $ (19) $ 86 $ 10 $ 16 $ 32 $ 47

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Schedule of segment information - net sales and operating earnings	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 Nine Months Three Months Nine Months (in millions) 2022 2021 2022 2021 2022 2021 2022 2021 Established Pharmaceutical Products $ 1,326 $ 1,265 $ 3,696 $ 3,515 $ 331 $ 293 $ 831 $ 682 Nutritional Products 1,795 2,108 5,642 6,252 69 431 550 1,388 Diagnostic Products 3,671 3,912 13,279 11,173 1,352 1,652 5,631 4,429 Medical Devices 3,615 3,632 10,937 10,618 1,039 1,160 3,272 3,375 Total Reportable Segments 10,407 10,917 33,554 31,558 2,791 3,536 10,284 9,874 Other 3 11 8 49 Net sales $ 10,410 $ 10,928 $ 33,562 $ 31,607 Corporate functions and benefit plan costs (115) (204) (352) (450) Net interest expense (86) (123) (309) (370) Share-based compensation (a) (123) (114) (570) (534) Amortization of intangible assets (498) (520) (1,517) (1,533) Other, net (b) (211) (82) (550) (1,103) Earnings before taxes $ 1,758 $ 2,493 $ 6,986 $ 5,884 ______________________________________ (a) Approximately 45 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 nine months ended September 30, 2022 includes $10 million and $172 million, respectively, of charges related to a voluntary recall within the Nutritional Products segment and $111 million of charges related to the impairment of IPR&D intangible assets. Other, net for the three and nine months ended September 30, 2022 and 2021 also includes integration costs associated with the acquisition of Alere and restructuring charges. Restructuring charges in 2021 include Abbott’s restructuring plan for its COVID-19 test manufacturing network. Other, net for the nine months ended September 30, 2021 also includes costs related to certain litigation.

Revenue - Narrative (Details)

Revenue - Narrative (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($) segment	Sep. 30, 2021 segment	Sep. 30, 2022 USD ($) segment	Sep. 30, 2021 segment
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Number of reportable segments | segment	4	4	4	4
Diagnostic Products
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 3,900		$ 3,900
Medical Devices
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 433		$ 433
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percentage of remaining performance obligation expected to be recognized in period			60%
Expected timing of satisfaction period (in months)	24 months		24 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percentage of remaining performance obligation expected to be recognized in period			16%
Expected timing of satisfaction period (in months)	12 months		12 months

Revenue - Segments (Details)

Revenue - Segments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Net sales	$ 10,410	$ 10,928	$ 33,562	$ 31,607
Operating Segments
Segment Reporting Information [Line Items]
Net sales	10,407	10,917	33,554	31,558
Other
Segment Reporting Information [Line Items]
Net sales	3	11	8	49
United States
Segment Reporting Information [Line Items]
Net sales	4,094	4,368	13,923	11,787
United States | Other
Segment Reporting Information [Line Items]
Net sales	3	6	8	31
International
Segment Reporting Information [Line Items]
Net sales	6,316	6,560	19,639	19,820
International | Other
Segment Reporting Information [Line Items]
Net sales	0	5	0	18
Established Pharmaceutical Products | Operating Segments
Segment Reporting Information [Line Items]
Net sales	1,326	1,265	3,696	3,515
Established Pharmaceutical Products | United States | Operating Segments
Segment Reporting Information [Line Items]
Net sales	0	0	0	0
Established Pharmaceutical Products | International | Operating Segments
Segment Reporting Information [Line Items]
Net sales	1,326	1,265	3,696	3,515
Nutritional Products | Operating Segments
Segment Reporting Information [Line Items]
Net sales	1,795	2,108	5,642	6,252
Nutritional Products | United States | Operating Segments
Segment Reporting Information [Line Items]
Net sales	686	919	2,124	2,628
Nutritional Products | International | Operating Segments
Segment Reporting Information [Line Items]
Net sales	1,109	1,189	3,518	3,624
Diagnostic Products | Operating Segments
Segment Reporting Information [Line Items]
Net sales	3,671	3,912	13,279	11,173
Diagnostic Products | United States | Operating Segments
Segment Reporting Information [Line Items]
Net sales	1,741	1,947	6,951	4,743
Diagnostic Products | International | Operating Segments
Segment Reporting Information [Line Items]
Net sales	1,930	1,965	6,328	6,430
Medical Devices | Operating Segments
Segment Reporting Information [Line Items]
Net sales	3,615	3,632	10,937	10,618
Medical Devices | United States | Operating Segments
Segment Reporting Information [Line Items]
Net sales	1,664	1,496	4,840	4,385
Medical Devices | International | Operating Segments
Segment Reporting Information [Line Items]
Net sales	1,951	2,136	6,097	6,233
Key Emerging Markets | Established Pharmaceutical Products | Operating Segments
Segment Reporting Information [Line Items]
Net sales	993	936	2,826	2,672
Key Emerging Markets | Established Pharmaceutical Products | United States | Operating Segments
Segment Reporting Information [Line Items]
Net sales	0	0	0	0
Key Emerging Markets | Established Pharmaceutical Products | International | Operating Segments
Segment Reporting Information [Line Items]
Net sales	993	936	2,826	2,672
Other Emerging Markets | Established Pharmaceutical Products | Operating Segments
Segment Reporting Information [Line Items]
Net sales	333	329	870	843
Other Emerging Markets | Established Pharmaceutical Products | United States | Operating Segments
Segment Reporting Information [Line Items]
Net sales	0	0	0	0
Other Emerging Markets | Established Pharmaceutical Products | International | Operating Segments
Segment Reporting Information [Line Items]
Net sales	333	329	870	843
Pediatric Nutritionals | Nutritional Products | Operating Segments
Segment Reporting Information [Line Items]
Net sales	827	1,100	2,599	3,259
Pediatric Nutritionals | Nutritional Products | United States | Operating Segments
Segment Reporting Information [Line Items]
Net sales	357	586	1,108	1,622
Pediatric Nutritionals | Nutritional Products | International | Operating Segments
Segment Reporting Information [Line Items]
Net sales	470	514	1,491	1,637
Adult Nutritionals | Nutritional Products | Operating Segments
Segment Reporting Information [Line Items]
Net sales	968	1,008	3,043	2,993
Adult Nutritionals | Nutritional Products | United States | Operating Segments
Segment Reporting Information [Line Items]
Net sales	329	333	1,016	1,006
Adult Nutritionals | Nutritional Products | International | Operating Segments
Segment Reporting Information [Line Items]
Net sales	639	675	2,027	1,987
Core Laboratory | Diagnostic Products | Operating Segments
Segment Reporting Information [Line Items]
Net sales	1,219	1,292	3,624	3,780
Core Laboratory | Diagnostic Products | United States | Operating Segments
Segment Reporting Information [Line Items]
Net sales	281	291	836	845
Core Laboratory | Diagnostic Products | International | Operating Segments
Segment Reporting Information [Line Items]
Net sales	938	1,001	2,788	2,935
Molecular | Diagnostic Products | Operating Segments
Segment Reporting Information [Line Items]
Net sales	183	345	815	1,082
Molecular | Diagnostic Products | United States | Operating Segments
Segment Reporting Information [Line Items]
Net sales	65	162	308	431
Molecular | Diagnostic Products | International | Operating Segments
Segment Reporting Information [Line Items]
Net sales	118	183	507	651
Point of Care | Diagnostic Products | Operating Segments
Segment Reporting Information [Line Items]
Net sales	127	135	394	401
Point of Care | Diagnostic Products | United States | Operating Segments
Segment Reporting Information [Line Items]
Net sales	92	100	284	289
Point of Care | Diagnostic Products | International | Operating Segments
Segment Reporting Information [Line Items]
Net sales	35	35	110	112
Rapid Diagnostics | Diagnostic Products | Operating Segments
Segment Reporting Information [Line Items]
Net sales	2,142	2,140	8,446	5,910
Rapid Diagnostics | Diagnostic Products | United States | Operating Segments
Segment Reporting Information [Line Items]
Net sales	1,303	1,394	5,523	3,178
Rapid Diagnostics | Diagnostic Products | International | Operating Segments
Segment Reporting Information [Line Items]
Net sales	839	746	2,923	2,732
Rhythm Management | Medical Devices | Operating Segments
Segment Reporting Information [Line Items]
Net sales	533	571	1,605	1,657
Rhythm Management | Medical Devices | United States | Operating Segments
Segment Reporting Information [Line Items]
Net sales	263	266	775	776
Rhythm Management | Medical Devices | International | Operating Segments
Segment Reporting Information [Line Items]
Net sales	270	305	830	881
Electrophysiology | Medical Devices | Operating Segments
Segment Reporting Information [Line Items]
Net sales	469	485	1,440	1,403
Electrophysiology | Medical Devices | United States | Operating Segments
Segment Reporting Information [Line Items]
Net sales	225	192	667	580
Electrophysiology | Medical Devices | International | Operating Segments
Segment Reporting Information [Line Items]
Net sales	244	293	773	823
Heart Failure | Medical Devices | Operating Segments
Segment Reporting Information [Line Items]
Net sales	228	229	690	650
Heart Failure | Medical Devices | United States | Operating Segments
Segment Reporting Information [Line Items]
Net sales	177	170	523	483
Heart Failure | Medical Devices | International | Operating Segments
Segment Reporting Information [Line Items]
Net sales	51	59	167	167
Vascular | Medical Devices | Operating Segments
Segment Reporting Information [Line Items]
Net sales	606	644	1,878	1,976
Vascular | Medical Devices | United States | Operating Segments
Segment Reporting Information [Line Items]
Net sales	213	219	650	684
Vascular | Medical Devices | International | Operating Segments
Segment Reporting Information [Line Items]
Net sales	393	425	1,228	1,292
Structural Heart | Medical Devices | Operating Segments
Segment Reporting Information [Line Items]
Net sales	420	392	1,271	1,191
Structural Heart | Medical Devices | United States | Operating Segments
Segment Reporting Information [Line Items]
Net sales	207	177	604	537
Structural Heart | Medical Devices | International | Operating Segments
Segment Reporting Information [Line Items]
Net sales	213	215	667	654
Neuromodulation | Medical Devices | Operating Segments
Segment Reporting Information [Line Items]
Net sales	192	190	568	584
Neuromodulation | Medical Devices | United States | Operating Segments
Segment Reporting Information [Line Items]
Net sales	156	149	456	460
Neuromodulation | Medical Devices | International | Operating Segments
Segment Reporting Information [Line Items]
Net sales	36	41	112	124
Diabetes Care | Medical Devices | Operating Segments
Segment Reporting Information [Line Items]
Net sales	1,167	1,121	3,485	3,157
Diabetes Care | Medical Devices | United States | Operating Segments
Segment Reporting Information [Line Items]
Net sales	423	323	1,165	865
Diabetes Care | Medical Devices | International | Operating Segments
Segment Reporting Information [Line Items]
Net sales	$ 744	$ 798	$ 2,320	$ 2,292

Revenue - Other Contract Assets

Revenue - Other Contract Assets and Liabilities (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
Contract Liabilities:
Beginning balance	$ 520
Unearned revenue from cash received during the period	466
Revenue recognized related to contract liability balance	(508)
Ending balance	$ 478

Supplemental Financial Inform_3

Supplemental Financial Information - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Condensed Cash Flow Statements, Captions [Line Items]
Net earnings allocated to common shares	$ 1,429	$ 2,092	$ 5,876	$ 5,061
Payment of cash taxes			987	$ 990
Equity method investments carrying value	228		228
Equity investment without readily determinable fair value	83		83
St. Jude Medical | Equity securities
Condensed Cash Flow Statements, Captions [Line Items]
Securities in mutual funds held in a rabbi trust	$ 285		285
Walk Vascular
Condensed Cash Flow Statements, Captions [Line Items]
Business acquisition, percentage acquired		100%		100%
Defined Benefit Plans
Condensed Cash Flow Statements, Captions [Line Items]
Pension contributions			$ 362	$ 366

Supplemental Financial Inform_4

Supplemental Financial Information - Allowance for Doubtful Accounts (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
Allowance for Doubtful Accounts:
Beginning balance	$ 313
Provisions/charges to income	10
Amounts charged off and other deductions	(49)
Ending balance	$ 274

Supplemental Financial Inform_5

Supplemental Financial Information - Investments (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Summary of Investment Holdings [Line Items]
Investments	$ 764	$ 816
Equity securities
Summary of Investment Holdings [Line Items]
Investments	604	748
Other
Summary of Investment Holdings [Line Items]
Investments	$ 160	$ 68

Changes in Accumulated Other _3

Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Changes in accumulated other comprehensive income (loss), net of income taxes
Beginning of the period			$ 35,802
Other comprehensive income (loss)	$ (739)	$ (174)	(1,071)	$ (294)
End of the period	35,675		35,675
Cumulative Foreign Currency Translation (Loss) Adjustments
Changes in accumulated other comprehensive income (loss), net of income taxes
Beginning of the period	(6,260)	(5,230)	(5,839)	(4,859)
Other comprehensive income (loss) before reclassifications	(1,008)	(391)	(1,429)	(762)
Amounts reclassified from accumulated other comprehensive income	0	0	0	0
Other comprehensive income (loss)	(1,008)	(391)	(1,429)	(762)
End of the period	(7,268)	(5,621)	(7,268)	(5,621)
Net Actuarial (Losses) and Prior Service (Costs) and Credits
Changes in accumulated other comprehensive income (loss), net of income taxes
Beginning of the period	(2,554)	(3,738)	(2,670)	(3,871)
Other comprehensive income (loss) before reclassifications	15	16	45	26
Amounts reclassified from accumulated other comprehensive income	41	62	127	185
Other comprehensive income (loss)	56	78	172	211
End of the period	(2,498)	(3,660)	(2,498)	(3,660)
Cumulative Gains (Losses) on Derivative Instruments Designated as Cash Flow Hedges and Other
Changes in accumulated other comprehensive income (loss), net of income taxes
Beginning of the period	108	(98)	135	(216)
Other comprehensive income (loss) before reclassifications	278	70	289	138
Amounts reclassified from accumulated other comprehensive income	(65)	69	(103)	119
Other comprehensive income (loss)	213	139	186	257
End of the period	$ 321	$ 41	$ 321	$ 41

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022	Dec. 31, 2021
Goodwill and Intangible Assets [Line Items]
Goodwill	$ 22,284	$ 22,284	$ 23,231
Decrease in goodwill due to foreign currency translation adjustments		946
Amount of reductions of goodwill relating to impairments		0
Gross amount of amortizable intangible assets	26,900	26,900	27,700
Accumulated amortization of intangible assets	16,900	16,900	15,900
Decrease in intangible assets due to foreign currency translation adjustments		250
Estimated annual amortization expense, intangible assets, 2022	2,100	2,100
Estimated annual amortization expense, intangible assets, 2023	2,000	2,000
Estimated annual amortization expense, intangible assets, 2024	1,900	1,900
Estimated annual amortization expense, intangible assets, 2025	1,700	1,700
Estimated annual amortization expense, intangible assets, 2026	1,600	1,600
Indefinite-lived intangible assets related to in-process R&D acquired in a business combination	807	807	$ 919
Established Pharmaceutical Products
Goodwill and Intangible Assets [Line Items]
Goodwill	2,600	2,600
Nutritional Products
Goodwill and Intangible Assets [Line Items]
Goodwill	286	286
Diagnostic Products
Goodwill and Intangible Assets [Line Items]
Goodwill	3,500	3,500
Medical Devices
Goodwill and Intangible Assets [Line Items]
Goodwill	15,900	15,900
Impairment of indefinite-lived intangible assets	$ 111	$ 111

Restructuring Plans - Narrative

Restructuring Plans - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended	9 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2021	Sep. 30, 2022	Dec. 31, 2021
COVID-19 Test Manufacturing Network Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 499			$ 441
Inventory sold that was previously estimated to have no net realizable value		$ 181
COVID-19 Test Manufacturing Network Restructuring Plan | Fixed Asset Write-Downs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	80			80
COVID-19 Test Manufacturing Network Restructuring Plan | Inventory- Related Charges
Restructuring Cost and Reserve [Line Items]
Restructuring charges	248			248
COVID-19 Test Manufacturing Network Restructuring Plan | Other Exit Costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 171			113
Reduction of restructuring estimate		$ 58
Restructuring Plan 2021, Streamline of Operations and Improve Efficiencies
Restructuring Cost and Reserve [Line Items]
Restructuring charges			$ 12	$ 68
Severance costs			12
Restructuring Plan 2021, Streamline of Operations and Improve Efficiencies | Cost of Products Sold
Restructuring Cost and Reserve [Line Items]
Severance costs			5
Restructuring Plan 2021, Streamline of Operations and Improve Efficiencies | Research and Development
Restructuring Cost and Reserve [Line Items]
Severance costs			2
Restructuring Plan 2021, Streamline of Operations and Improve Efficiencies | Selling, General and Administrative Expense
Restructuring Cost and Reserve [Line Items]
Severance costs			$ 5

Restructuring Plans - Streamlin

Restructuring Plans - Streamline of Operations and Improve Efficiencies (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended	12 Months Ended
	Jun. 30, 2021	Sep. 30, 2022	Dec. 31, 2021
COVID-19 Test Manufacturing Network Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Restructuring charges recorded in 2021	$ 499		$ 441
Payments			(90)
Other non-cash			(328)
Restructuring Reserve [Roll Forward]
Accrued balance at beginning of the period		$ 23
Payments and other adjustments		(10)
Accrued balance at end of the period		13	23
COVID-19 Test Manufacturing Network Restructuring Plan | Inventory- Related Charges
Restructuring Cost and Reserve [Line Items]
Restructuring charges recorded in 2021	248		248
Payments			0
Other non-cash			(248)
Restructuring Reserve [Roll Forward]
Accrued balance at beginning of the period		0
Payments and other adjustments		0
Accrued balance at end of the period		0	0
COVID-19 Test Manufacturing Network Restructuring Plan | Fixed Asset Write-Downs
Restructuring Cost and Reserve [Line Items]
Restructuring charges recorded in 2021	80		80
Payments			0
Other non-cash			(80)
Restructuring Reserve [Roll Forward]
Accrued balance at beginning of the period		0
Payments and other adjustments		0
Accrued balance at end of the period		0	0
COVID-19 Test Manufacturing Network Restructuring Plan | Other Exit Costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges recorded in 2021	$ 171		113
Payments			(90)
Other non-cash			0
Restructuring Reserve [Roll Forward]
Accrued balance at beginning of the period		23
Payments and other adjustments		(10)
Accrued balance at end of the period		13	23
Restructuring Plan 2021, Streamline of Operations and Improve Efficiencies
Restructuring Cost and Reserve [Line Items]
Restructuring charges recorded in 2021		12	68
Restructuring Reserve [Roll Forward]
Accrued balance at beginning of the period		61
Payments and other adjustments		(39)	(7)
Accrued balance at end of the period		$ 34	$ 61

Incentive Stock Program - Narra

Incentive Stock Program - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($) shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Incentive stock program, shares reserved for future grants (in shares)	87,000,000
Total unrecognized compensation cost | $	$ 600
Total unrecognized compensation cost, recognition period	3 years
Share-based Payment Arrangement, Option
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options granted during the period (in shares)	2,634,647
Restricted Stock Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Restricted stock awards granted during the period (in shares)	514,205
Restricted Stock Units (RSUs)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Restricted stock units granted during period (in shares)	5,427,697

Incentive Stock Program - Optio

Incentive Stock Program - Options (Details) - Share-based Payment Arrangement, Option $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($) $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options outstanding, number of shares | shares	29,048,449
Exercisable options, number of shares | shares	23,310,464
Stock options outstanding, weighted-average remaining life	5 years 4 months 24 days
Exercisable options, weighted-average remaining life	4 years 7 months 6 days
Stock options outstanding, weighted-average exercise price (in dollars per share) | $ / shares	$ 70.22
Exercisable options, weighted-average exercise price (in dollars per share) | $ / shares	$ 59.69
Aggregate intrinsic value of options outstanding | $	$ 901
Aggregate intrinsic value of options exercisable | $	$ 890

Debt and Lines of Credit (Detai

Debt and Lines of Credit (Details) - 2.55% Long-term Notes Due 2022 $ in Millions	Mar. 15, 2022 USD ($)
Debt Instrument [Line Items]
Repayments of debt	$ 750
Interest rate percentage	2.55%

Financial Instruments, Deriva_3

Financial Instruments, Derivatives and Fair Value Measures - Contracts (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Net Investment Hedging | Designated as Hedging Instrument | Yen-denominated long-term debt
Derivatives, Fair Value [Line Items]
Debt instrument, term			5 years		5 years
Long-term debt	$ 413		$ 413		$ 521
Foreign Exchange Forward
Derivatives, Fair Value [Line Items]
Gain (loss) recognized related to derivatives not designated as hedge	(27)	$ (18)	225	$ 15
Foreign Exchange Forward | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative, notional amount	10,300		10,300		12,200
Foreign Exchange Forward | Cash Flow Hedging | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative, notional amount	7,900		$ 7,900		8,600
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
Interest Rate Swap | Fair Value Hedging | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative, notional amount	$ 2,900		$ 2,900		$ 2,900

Financial Instruments, Deriva_4

Financial Instruments, Derivatives and Fair Value Measures - Location of Derivative Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Fair Value - Assets	$ 908	$ 379
Fair Value - Liabilities	786	618
Designated as Hedging Instrument | Interest Rate Swap | Deferred income taxes and other assets | Fair Value Hedging
Derivatives, Fair Value [Line Items]
Fair Value - Assets	0	87
Designated as Hedging Instrument | Interest Rate Swap | Post-employment obligations, deferred income taxes and other long-term liabilities | Fair Value Hedging
Derivatives, Fair Value [Line Items]
Fair Value - Liabilities	166	0
Designated as Hedging Instrument | Foreign Exchange Forward | Prepaid expenses and other receivables
Derivatives, Fair Value [Line Items]
Fair Value - Assets	760	222
Designated as Hedging Instrument | Foreign Exchange Forward | Other accrued liabilities
Derivatives, Fair Value [Line Items]
Fair Value - Liabilities	66	65
Designated as Hedging Instrument | Debt | Long-term debt | Net Investment Hedging
Derivatives, Fair Value [Line Items]
Fair Value - Liabilities	413	521
Not Designated as Hedging Instrument | Foreign Exchange Forward | Prepaid expenses and other receivables
Derivatives, Fair Value [Line Items]
Fair Value - Assets	148	70
Not Designated as Hedging Instrument | Foreign Exchange Forward | Other accrued liabilities
Derivatives, Fair Value [Line Items]
Fair Value - Liabilities	$ 141	$ 32

Financial Instruments, Deriva_5

Financial Instruments, Derivatives and Fair Value Measures - Gain or Loss (Details) - Designated as Hedging Instrument - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Foreign Exchange Forward | Cash Flow Hedging | Cost of products sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) Recognized in Other Comprehensive Income (loss)	$ 350	$ 96	$ 442	$ 142
Income (expense) and Gain (loss) Reclassified into Income	79	(92)	149	(207)
Debt | Net Investment Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) Recognized in Other Comprehensive Income (loss)	24	4	108	41
Interest Rate Swap | Fair Value Hedging | Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Income (expense) and Gain (loss) Reclassified into Income	$ (85)	$ (14)	$ (253)	$ (81)

Financial Instruments, Deriva_6

Financial Instruments, Derivatives and Fair Value Measures - Carrying Value and Fair Value (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Investment Securities:	$ 764	$ 816
Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Investment Securities:	604	748
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Long-term Debt	(16,414)	(18,050)
Foreign currency forward exchange contracts, receivable position	908	292
Foreign currency forward exchange contracts, (payable) position	(207)	(97)
Interest rate hedge contracts, receivable position	0	87
Interest rate hedge contracts, (payable) position	(166)	0
Carrying Value | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Investment Securities:	604	748
Carrying Value | Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Investment Securities:	160	68
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Long-term Debt	(15,821)	(21,152)
Foreign currency forward exchange contracts, receivable position	908	292
Foreign currency forward exchange contracts, (payable) position	(207)	(97)
Interest rate hedge contracts, receivable position	0	87
Interest rate hedge contracts, (payable) position	(166)	0
Fair Value | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Investment Securities:	604	748
Fair Value | Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Investment Securities:	$ 160	$ 68

Financial Instruments, Deriva_7

Financial Instruments, Derivatives and Fair Value Measures - Bases of Measurement (Details) - Fair Value, Recurring - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	$ 293	$ 402
Interest rate swap derivative financial instruments		87
Foreign currency forward exchange contracts	908	292
Total Assets	1,201	781
Fair value of hedged long-term debt	2,685	2,926
Interest rate swap derivative financial instruments	166
Foreign currency forward exchange contracts	207	97
Contingent consideration related to business combinations	138	130
Total Liabilities	3,196	3,153
Quoted Prices in Active Markets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	293	402
Interest rate swap derivative financial instruments		0
Foreign currency forward exchange contracts	0	0
Total Assets	293	402
Fair value of hedged long-term debt	0	0
Interest rate swap derivative financial instruments	0
Foreign currency forward exchange contracts	0	0
Contingent consideration related to business combinations	0	0
Total Liabilities	0	0
Significant Other Observable Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Interest rate swap derivative financial instruments		87
Foreign currency forward exchange contracts	908	292
Total Assets	908	379
Fair value of hedged long-term debt	2,685	2,926
Interest rate swap derivative financial instruments	166
Foreign currency forward exchange contracts	207	97
Contingent consideration related to business combinations	0	0
Total Liabilities	3,058	3,023
Significant Unobservable Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Interest rate swap derivative financial instruments		0
Foreign currency forward exchange contracts	0	0
Total Assets	0	0
Fair value of hedged long-term debt	0	0
Interest rate swap derivative financial instruments	0
Foreign currency forward exchange contracts	0	0
Contingent consideration related to business combinations	138	130
Total Liabilities	$ 138	$ 130

Litigation and Environmental _2

Litigation and Environmental Matters (Details) $ in Millions	Sep. 30, 2022 USD ($)
Loss Contingencies [Line Items]
Maximum expected cleanup exposure for individual site	$ 4
Maximum expected cleanup exposure in aggregate	10
Legal proceedings and environmental exposures
Loss Contingencies [Line Items]
Recorded accrual balance for legal proceedings and exposures	45
Legal proceedings and environmental exposures | Minimum
Loss Contingencies [Line Items]
Estimation of possible loss	40
Legal proceedings and environmental exposures | Maximum
Loss Contingencies [Line Items]
Estimation of possible loss	$ 50

Post-Employment Benefits (Detai

Post-Employment Benefits (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Defined Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost - benefits earned during the period	$ 92	$ 98	$ 282	$ 294
Interest cost on projected benefit obligations	74	62	225	186
Expected return on plan assets	(231)	(211)	(701)	(633)
Net amortization of:
Actuarial loss, net	58	79	174	238
Prior service cost (credit)	0	0	1	1
Net cost (credit)	(7)	28	(19)	86
Medical and Dental Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost - benefits earned during the period	13	14	38	42
Interest cost on projected benefit obligations	9	8	27	25
Expected return on plan assets	(8)	(6)	(23)	(20)
Net amortization of:
Actuarial loss, net	2	7	8	21
Prior service cost (credit)	(6)	(7)	(18)	(21)
Net cost (credit)	$ 10	$ 16	$ 32	$ 47

Post-Employment Benefits - Narr

Post-Employment Benefits - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Defined Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Company contributions	$ 362	$ 366
Medical and Dental Plans
Defined Benefit Plan Disclosure [Line Items]
Company contributions	$ 28	$ 26

Taxes on Earnings (Details)

Taxes on Earnings (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Excess tax benefits associated with share-based compensation	$ 36	$ 97
Tax expense from prior year tax positions	20
Minimum
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Decrease reasonably possible in gross unrecognized tax benefits	75
Maximum
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Decrease reasonably possible in gross unrecognized tax benefits	$ 100

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Net Sales to External Customers	$ 10,410	$ 10,928	$ 33,562	$ 31,607
Operating Earnings	1,770	2,546	7,058	6,047
Amortization of intangible assets	(498)	(520)	(1,517)	(1,533)
Earnings before taxes	$ 1,758	$ 2,493	$ 6,986	$ 5,884
Annual share-based awards recognized in first quarter (as a percent)	45%	45%	45%	45%
Nutritional Products
Segment Reporting Information [Line Items]
Inventory recall expense	$ 10		$ 172
Medical Devices
Segment Reporting Information [Line Items]
Impairment of indefinite-lived intangible assets	111		111
Operating Segments
Segment Reporting Information [Line Items]
Net Sales to External Customers	10,407	$ 10,917	33,554	$ 31,558
Operating Earnings	2,791	3,536	10,284	9,874
Operating Segments | Established Pharmaceutical Products
Segment Reporting Information [Line Items]
Net Sales to External Customers	1,326	1,265	3,696	3,515
Operating Earnings	331	293	831	682
Operating Segments | Nutritional Products
Segment Reporting Information [Line Items]
Net Sales to External Customers	1,795	2,108	5,642	6,252
Operating Earnings	69	431	550	1,388
Operating Segments | Diagnostic Products
Segment Reporting Information [Line Items]
Net Sales to External Customers	3,671	3,912	13,279	11,173
Operating Earnings	1,352	1,652	5,631	4,429
Operating Segments | Medical Devices
Segment Reporting Information [Line Items]
Net Sales to External Customers	3,615	3,632	10,937	10,618
Operating Earnings	1,039	1,160	3,272	3,375
Other
Segment Reporting Information [Line Items]
Net Sales to External Customers	3	11	8	49
Segment Reconciling Items
Segment Reporting Information [Line Items]
Corporate functions and benefit plan costs	(115)	(204)	(352)	(450)
Net interest expense	(86)	(123)	(309)	(370)
Share-based compensation	(123)	(114)	(570)	(534)
Amortization of intangible assets	(498)	(520)	(1,517)	(1,533)
Other, net	$ (211)	$ (82)	$ (550)	$ (1,103)