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Equity (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of share-based compensation expense

Stock-based compensation expense is principally related to awards issued pursuant to the 2013 ISP and the Amended Plan and is summarized as follows:


years ended December 31 (in millions)	2021		2020		2019
Cost of products sold	$	46	$	47	$	29
Research and development	226		247		171
Selling, general and administrative	420		459		230
Pre-tax compensation expense	692		753		430
Tax benefit	126		131		80
After-tax compensation expense	$	566	$	622	$	350

Summary of AbbVie stock option activity

The following table summarizes AbbVie stock option activity in 2021:


(options in thousands, aggregate intrinsic value in millions)	Options	Weighted- average exercise price		Weighted-average remaining life (in years)	Aggregate intrinsic value
Outstanding at December 31, 2020	15,691	$	73.90	4.7	$	559
Granted	1,147	105.94
Exercised	(4,278)	57.77
Lapsed and forfeited	(186)	105.28
Outstanding at December 31, 2021	12,374	$	81.98	4.7	$	661
Exercisable at December 31, 2021	9,424	$	78.03	3.6	$	541

Summary of AbbVie RSA and RSU activity

The following table summarizes AbbVie RSU and performance share activity for 2021:


(share units in thousands)	Share units	Weighted-average grant date fair value
Outstanding at December 31, 2020	15,918	$	87.03
Granted	7,556	105.79
Vested	(6,735)	91.63
Forfeited	(1,849)	83.35
Outstanding at December 31, 2021	14,890	$	94.93

Summary of quarterly cash dividends

The following table summarizes quarterly cash dividends declared during 2021, 2020 and 2019:

2021

2020

2019

Date Declared

Payment Date

Dividend Per Share

Date Declared

Payment Date

Dividend Per Share

Date Declared

Payment Date

Dividend Per Share

10/29/21

02/15/22

$1.41

10/30/20

02/16/21

$1.30

11/01/19

02/14/20

$1.18

09/10/21

11/15/21

$1.30

09/11/20

11/16/20

$1.18

09/06/19

11/15/19

$1.07

06/17/21

08/16/21

$1.30

06/17/20

08/14/20

$1.18

06/20/19

08/15/19

$1.07

02/18/21

05/14/21

$1.30

02/20/20

05/15/20

$1.18

02/21/19

05/15/19

$1.07

Summary of changes in each component of accumulated other comprehensive loss, net of tax

The following table summarizes the changes in each component of accumulated other comprehensive loss, net of tax, for 2021, 2020 and 2019:


(in millions) (brackets denote losses)	Foreign currency translation adjustments		Net investment hedging activities		Pension and post-employment benefits		Marketable security activities		Cash flow hedging activities		Total
Balance as of December 31, 2018	$	(830)	$	(65)	$	(1,722)	$	(10)	$	147	$	(2,480)
Other comprehensive income (loss) before reclassifications	(98)		95		(1,330)		12		298		(1,023)
Net losses (gains) reclassified from accumulated other comprehensive loss	—		(21)		87		(2)		(157)		(93)
Net current-period other comprehensive income (loss)	(98)		74		(1,243)		10		141		(1,116)
Balance as of December 31, 2019	(928)		9		(2,965)		—		288		(3,596)
Other comprehensive income (loss) before reclassifications	1,511		(785)		(300)		—		(108)		318
Net losses (gains) reclassified from accumulated other comprehensive loss	—		(14)		198		—		(23)		161
Net current-period other comprehensive income (loss)	1,511		(799)		(102)		—		(131)		479
Balance as of December 31, 2020	583		(790)		(3,067)		—		157		(3,117)
Other comprehensive income (loss) before reclassifications	(1,153)		720		298		—		76		(59)
Net losses (gains) reclassified from accumulated other comprehensive loss	—		(21)		223		—		75		277
Net current-period other comprehensive income (loss)	(1,153)		699		521		—		151		218
Balance as of December 31, 2021	$	(570)	$	(91)	$	(2,546)	$	—	$	308	$	(2,899)

Schedule of the impact of significant amounts reclassified out of each component of accumulated other comprehensive loss

The table below presents the impact on AbbVie's consolidated statements of earnings for significant amounts reclassified out of each component of accumulated other comprehensive loss:


years ended December 31 (in millions) (brackets denote gains)	2021		2020		2019
Net investment hedging activities
Gains on derivative amount excluded from effectiveness testing(a)	$	(26)	$	(18)	$	(27)
Tax expense	5		4		6
Total reclassifications, net of tax	$	(21)	$	(14)	$	(21)
Pension and post-employment benefits
Amortization of actuarial losses and other(b)	$	283	$	251	$	110
Tax benefit	(60)		(53)		(23)
Total reclassifications, net of tax	$	223	$	198	$	87
Cash flow hedging activities
Losses (gains) on foreign currency forward exchange contracts(c)	$	87	$	(23)	$	(167)
Gains on treasury rate lock agreements(a)	(24)		(24)		(3)
Losses (gains) on interest rate swap contracts(a)	24		17		(1)
Tax expense (benefit)	(12)		7		14
Total reclassifications, net of tax	$	75	$	(23)	$	(157)

(a)Amounts are included in interest expense, net (see Note 11).

(b)Amounts are included in the computation of net periodic benefit cost (see Note 12).

(c)Amounts are included in cost of products sold (see Note 11).