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Pay vs Performance Disclosure

12 Months Ended

Dec. 31, 2024

USD ($)

Dec. 31, 2023

USD ($)

Dec. 31, 2022

USD ($)

Dec. 31, 2021

USD ($)

Dec. 31, 2020

USD ($)

Pay vs Performance Disclosure

Pay vs Performance Disclosure, Table


																			Value of Initial Fixed $100
																			Investment Based on
	Summary						Summary						Average Summary			Average						Peer Group
	Compensation			Compensation			Compensation			Compensation			Compensation			Compensation			Total			Total			Net			Adjusted
	Table Total			Actually Paid			Table Total			Actually Paid			Table Total for			Actually Paid to			Shareholder			Shareholder			Income			Diluted
Year	for PEO			to PEO			for Former PEO			to Former PEO			Non-PEO NEOs			Non-PEO NEOs			Return			Return			$MM			EPS
	($)(a)			($)(b)			($)(a)			($)(b)			($)(c)			($)(d)			($)(e)			($)(f)			($)			($)(g)
2024		$	18,492,517		$	33,323,947		$	28,502,888		$	67,567,568		$	11,314,957		$	20,324,464		$	248.62		$	163.63		$	4,278		$	10.12
2023									25,661,972			34,672,518			12,319,311			12,199,327			209.10			155.66			4,863			11.11
2022									26,287,185			67,395,343			9,125,252			20,275,581			209.58			144.53			11,836			13.77
2021									23,912,154			66,387,875			11,035,630			24,203,425			168.96			134.15			11,542			11.83
2020									24,007,591			47,010,914			15,221,472			22,524,088			127.61			108.74			4,616			9.76

(a)	The dollar amounts reported are the total compensation reported for Mr. Michael (PEO) and Mr. Gonzalez (former PEO) for each applicable fiscal year in the “Total” column of the Summary Compensation Table.

(b)

The dollar amounts reported represent the “compensation actually paid” to Mr. Michael, who was appointed as AbbVie’s CEO in July 2024, and Mr. Gonzalez, who served as our PEO for each of fiscal years 2020, 2021, 2022 and 2023, and part of 2024 until Mr. Michael’s appointment, as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to Mr. Michael or Mr. Gonzalez during such fiscal years and are based on valuation assumptions required by the SEC, which are unlikely to reflect actual amounts realized at vesting or exercise (as applicable). In accordance with the requirements of Item 402(v) of Regulation S-K, the reported “Total” in the Summary Compensation Table for the applicable year is adjusted to determine the “compensation actually paid” amount as follows:

(1) The amount reflected in the “Stock Award” and “Option Award” columns of the Summary Compensation Table with respect to Mr. Michael and Mr. Gonzalez has been deducted from the Summary Compensation Table Total and substituted with an equity award value for each year calculated by adding or subtracting, as applicable, the following: (i) the year-end fair value of any equity awards

granted in the applicable fiscal year that are outstanding and unvested as of the end of such year, accounting for any banking of the award resulting from EPS performance (as reflected in footnote (2) to the Outstanding Equity Awards at Fiscal Year End Table); (ii) the change in fair value from the end of the prior fiscal year of any awards granted in prior fiscal years that are outstanding and unvested as of the end of the applicable fiscal year, accounting for any adjustment based on relative TSR performance on awards for which the performance period ends as of this date (as reflected in footnote (2) to the Outstanding Equity Awards at Fiscal Year End Table); (iii) for awards granted in prior fiscal years that vested in the applicable fiscal year, the amount equal to the change in value as of the vesting date (from the end of the prior fiscal year); and (iv) the dollar value of dividends accrued on equity awards in the applicable year prior to the vesting date (excluding option awards, which do not carry dividend equivalent rights) that are not otherwise reflected in the fair value of such award or included in any other component of total compensation for the applicable fiscal year. The valuation assumptions used to calculate fair values on equity awards other than options are the same as those disclosed at the time of grant. Stock option awards are valued using a Black-Scholes model at the time of grant (as disclosed in footnote (2) to the Summary Compensation Table) with subsequent fair value calculations performed using a Lattice model.

The amounts in the following table represent each of the amounts deducted and added to the equity award values for Mr. Michael and Mr. Gonzalez, respectively, for the 2024 fiscal year for purposes of computing the “compensation actually paid” amount appearing in column (b) of the pay versus performance table:

Grant Date

Year-end

Change in

Total Equity

Fair Value of

Fair Value as of

Value

Equity Awards

Year-End of Any

the Vesting Date

Total

Reflected in

Granted

Prior Year

of Any Prior Year

Equity Value

Summary

During

Awards that

Reflected in

Compensation

Applicable

Remain Unvested

Vested During

Compensation

Year

PEO Name

Table

Year

as of Year-End

Applicable Year

Actually Paid

2024

Robert A. Michael

9,804,031

(9,804,031)

16,918,193

5,890,314

3,021,280

25,829,787

2024

Richard A. Gonzalez

18,576,422

(18,576,422)

32,056,068

16,732,463

8,852,571

57,641,102

(2) The pension benefit value reported in the “Change in Pension and Nonqualified Deferred Compensation” column of the Summary Compensation Table for the 2024 fiscal year is adjusted to account for the aggregate of two components: (i) the actuarially determined service cost for services rendered by Mr. Michael and Mr. Gonzalez, respectively, during 2024 (the “service cost”); and (ii) the entire cost of benefits granted in a plan amendment during 2024 that are attributed by the benefit formula to services rendered in periods prior to the plan amendment (the “prior service cost”), in each case, calculated in accordance with U.S. GAAP.

The amounts in the following table represent each of the amounts deducted and added to the change in pension value for Mr. Michael and Mr. Gonzalez, respectively, for the 2024 fiscal year for purposes of computing the “compensation actually paid” amount appearing in column (b) of the pay versus performance table:

Total Change

in Pension

Prior

Total Change in

Value Reflected

Change in

Service Costs

Pension Value

in the Summary

Pension Value

Attributable

Introduced

Reflected in

Compensation

for the

to the

During the

Compensation

Year

PEO Name

Table

Applicable Year

Actually Paid

2024

Robert A. Michael

1,673,369

(1,673,369)

479,043

N/A

479,043

2024

Richard A. Gonzalez

N/A

(c)

The dollar amounts reported represent the average of the amounts reported for AbbVie’s named executive officers (NEOs) as a group (excluding the PEO and, for 2024, the former PEO) in the “Total” column of the Summary Compensation Table in each applicable fiscal year. The names of each of the NEOs included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2024, S. Reents, J. Stewart, A. Saleki-Gerhardt and T. Richmond; (ii) for 2023, R. Michael, S. Reents, J. Stewart and A. Saleki-Gerhardt; (iii) for 2022, R. Michael, S. Reents, L. Schumacher, J. Stewart and A.

Saleki-Gerhardt; (iv) for 2021, R. Michael, L. Schumacher, M. Severino and J. Stewart; and (v) for 2020, R. Michael, L. Schumacher, C. Alban and M. Severino.

(d)

The dollar amounts reported represent the average amount of “compensation actually paid” to the NEOs as a group (excluding the PEO and, for 2024, the former PEO), as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to the NEOs as a group (excluding the PEO and, for 2024, the former PEO) during such fiscal years and are based on valuation assumptions required by the SEC, which are unlikely to reflect actual amounts realized at vesting or exercise (as applicable). The average total compensation for the NEOs as a group (excluding the PEO and, for 2024, the former PEO) for each year was adjusted using the same methodology described above in footnote (b) to determine the compensation actually paid.

The amounts in the following table represent the average of the amounts deducted and added to the equity award values for AbbVie’s named executive officers (NEOs) as a group (excluding the PEO and, for 2024, the former PEO) for the 2024 fiscal year for purposes of computing the “compensation actually paid” amount appearing in column (d) of the pay versus performance table:

Grant Date

Year-end

Change in

Total Equity

Fair Value of

Fair Value as of

Value

Equity Awards

Year-End of Any

the Vesting Date

Total

Reflected in

Granted

Prior Year

of Any Prior Year

Equity Value

Summary

During

Awards that

Reflected in

Compensation

Applicable

Remain Unvested

Vested During

Compensation

Year

NEO Names

Table

Year

as of Year-End

Applicable Year

Actually Paid

2024

See footnote (c)

5,276,028

(5,276,028)

9,104,468

4,005,917

1,732,525

14,842,910

The amounts in the following table represent each of the amounts deducted and added to the change in pension value for AbbVie’s named executive officers (NEOs) as a group (excluding the PEO and, for 2024, the former PEO) for the 2024 fiscal year for purposes of computing the “compensation actually paid” amount appearing in column (d) of the pay versus performance table:

Total Change

in Pension

Prior

Total Change in

Value Reflected

Change in

Service Costs

Pension Value

in the Summary

Pension Value

Attributable

Introduced

Reflected in

Compensation

for the

to the

During the

Compensation

Year

NEO Names

Table

Applicable Year

Actually Paid

2024

See footnote (c)

990,295

(990,295)

432,919

N/A

432,919

(e)

Cumulative TSR is calculated by dividing the sum of the cumulative amount of dividends for the measurement period, assuming dividend reinvestment, and the difference between AbbVie’s share price at the end and the beginning of the measurement period by AbbVie's share price at the beginning of the measurement period.

(f)

Represents the weighted peer group TSR, weighted according to the respective companies’ stock market capitalization at the beginning of each period for which a return is indicated. The peer group used for this purpose is the NYSE Arca Pharmaceutical Index, our peer group used for purposes of Item 201(e) of Regulation S-K.

(g)

As required by Item 402(v) of Regulation S-K, AbbVie has determined that adjusted diluted EPS is the Company Selected Measure, as it is the most important financial performance measure (that is not otherwise required to be disclosed in the table) used to link compensation actually paid to AbbVie’s NEOs to company performance for the most recently completed fiscal year. Adjusted diluted EPS is a non-GAAP measure that represents diluted earnings per share adjusted to exclude certain specified items, as described in Appendix B. Adjusted diluted EPS includes an unfavorable impact related to acquired IPR&D, milestone and/or Calico-related expenses of $1.52 in 2024, $0.42 in 2023, $0.39 in 2022, $0.90 in 2021 and $0.81 in 2020.

Company Selected Measure Name

Adjusted diluted EPS

Named Executive Officers, Footnote

Peer Group Issuers, Footnote

(f)

Adjustment To PEO Compensation, Footnote

(b)

Grant Date

Year-end

Change in

Total Equity

Fair Value of

Fair Value as of

Value

Equity Awards

Year-End of Any

the Vesting Date

Total

Reflected in

Granted

Prior Year

of Any Prior Year

Equity Value

Summary

During

Awards that

Reflected in

Compensation

Applicable

Remain Unvested

Vested During

Compensation

Year

PEO Name

Table

Year

as of Year-End

Applicable Year

Actually Paid

2024

Robert A. Michael

9,804,031

(9,804,031)

16,918,193

5,890,314

3,021,280

25,829,787

2024

Richard A. Gonzalez

18,576,422

(18,576,422)

32,056,068

16,732,463

8,852,571

57,641,102

Total Change

in Pension

Prior

Total Change in

Value Reflected

Change in

Service Costs

Pension Value

in the Summary

Pension Value

Attributable

Introduced

Reflected in

Compensation

for the

to the

During the

Compensation

Year

PEO Name

Table

Applicable Year

Actually Paid

2024

Robert A. Michael

1,673,369

(1,673,369)

479,043

N/A

479,043

2024

Richard A. Gonzalez

N/A

Non-PEO NEO Average Total Compensation Amount

$ 11,314,957

$ 12,319,311

$ 9,125,252

$ 11,035,630

$ 15,221,472

Non-PEO NEO Average Compensation Actually Paid Amount

$ 20,324,464

12,199,327

20,275,581

24,203,425

22,524,088

Adjustment to Non-PEO NEO Compensation Footnote

(d)

Grant Date

Year-end

Change in

Total Equity

Fair Value of

Fair Value as of

Value

Equity Awards

Year-End of Any

the Vesting Date

Total

Reflected in

Granted

Prior Year

of Any Prior Year

Equity Value

Summary

During

Awards that

Reflected in

Compensation

Applicable

Remain Unvested

Vested During

Compensation

Year

NEO Names

Table

Year

as of Year-End

Applicable Year

Actually Paid

2024

See footnote (c)

5,276,028

(5,276,028)

9,104,468

4,005,917

1,732,525

14,842,910

Total Change

in Pension

Prior

Total Change in

Value Reflected

Change in

Service Costs

Pension Value

in the Summary

Pension Value

Attributable

Introduced

Reflected in

Compensation

for the

to the

During the

Compensation

Year

NEO Names

Table

Applicable Year

Actually Paid

2024

See footnote (c)

990,295

(990,295)

432,919

N/A

432,919

Compensation Actually Paid vs. Total Shareholder Return

Comparison of “Compensation Actually Paid” to TSR

The chart below demonstrates that the “compensation actually paid” amounts shown for Mr. Michael (for 2024) and Mr. Gonzalez (for 2020-2024) and average “compensation actually paid” to the other NEOs (see footnote (c) to the pay versus performance table) is aligned with AbbVie’s cumulative TSR over the five years presented in the table. The alignment of compensation actually paid with AbbVie’s cumulative TSR over the period presented reflects that a significant portion of the compensation actually paid to Mr. Michael and Mr. Gonzalez, as

applicable, and to the other NEOs is comprised of equity awards. Moreover, AbbVie’s executive compensation philosophy and design is fundamentally based on a commitment to align pay and performance.

Compensation Actually Paid vs. Net Income

Comparison of “Compensation Actually Paid” to Net Income

AbbVie’s net income was approximately $4.6 billion in 2020, $11.5 billion in 2021, $11.8 billion in 2022, $4.9 billion in 2023 and $4.3 billion in 2024. Mr. Michael’s “compensation actually paid” was approximately $33 million in 2024. Mr. Gonzalez’s “compensation actually paid” was approximately $47 million, $66 million, $67 million, $35 million and $68 million in the corresponding years. The average “compensation actually paid” to AbbVie’s other NEOs (see footnote (c) to the pay versus performance table) was approximately $23 million, $24 million, $20 million, $12 million and $20 million in the corresponding years.

Compensation Actually Paid vs. Company Selected Measure

Comparison of “Compensation Actually Paid” to Company-Selected Measure (Adjusted Diluted EPS)

AbbVie’s annualized adjusted diluted EPS was $9.76 in 2020, $11.83 in 2021, $13.77 in 2022, $11.11 in 2023 and $10.12 in 2024. Mr. Michael’s “compensation actually paid” was approximately $33 million in 2024. Mr. Gonzalez’s “compensation actually paid” was approximately $47 million, $66 million, $67 million, $35 million and $68 million in the corresponding years and the average “compensation actually paid” to AbbVie’s other NEOs (see footnote (c) to pay versus performance table) was approximately $23 million, $24 million, $20 million, $12 million and $20 million in each of the corresponding years. While AbbVie uses numerous financial and non-financial performance measures for the purpose of evaluating performance for our compensation programs, we have determined that adjusted diluted EPS is the financial performance measure that, in AbbVie’s assessment, represents the most important performance measure (that is not otherwise required to be disclosed in the table) used to link compensation actually paid to NEOs, for the most recently completed fiscal year, to AbbVie’s performance. AbbVie places significant emphasis on achieving positive EPS outcomes because it reflects strong operating dynamics in the underlying business, which is imperative for sustained long-term growth.

Total Shareholder Return Vs Peer Group

AbbVie TSR versus Peer Group TSR

The graph below shows AbbVie’s cumulative TSR over the five-year period ending with December 31, 2024 as compared to the NYSE Arca Pharmaceutical Index. AbbVie’s cumulative TSR outperformed our peer group during the five years presented in the table. Additionally, AbbVie is committed to a robust return of capital to stockholders with an increase of 235% in its quarterly dividend since 2014 as part of a balanced and disciplined capital allocation program, contributing to our strong cumulative TSR.

Tabular List, Table

Most Important Performance Measures

The performance measures that AbbVie uses in our executive compensation program are selected based on the objective of incentivizing NEOs to achieve long-term, sustainable growth in stockholder value. As required by

Item 402(v) of Regulation S-K, we have identified the following financial performance measures as being the most important in linking actual compensation paid to executives to AbbVie’s performance.

Adjusted Diluted Earnings Per Share

Adjusted Relative Return on Invested Capital

Adjusted Return on Assets

Non-GAAP Income Before Taxes

Non-GAAP Operating Margin

Platform Revenue

Total Shareholder Return

Total Shareholder Return Amount

$ 248.62

209.10

209.58

168.96