Restructuring Plans

3 Months Ended

Mar. 31, 2023

Restructuring and Related Activities [Abstract]

Note 7 — Restructuring Plans

In 2022 and 2023, Abbott management approved various plans to streamline operations in order to reduce costs and improve efficiencies in its medical devices, nutritional, diagnostic, and established pharmaceutical businesses. In the first three months of 2023, Abbott recorded employee related severance and other charges of approximately $17 million, of which approximately $6 million was recorded in Cost of products sold, and approximately $11 million was recorded in Selling, general and administrative expenses.

The following summarizes the activity related to these restructuring actions and the status of the related accruals as of March 31, 2023:


(in millions)
Accrued balance at December 31, 2022	$	228
Restructuring charges in 2023	17
Payments and other adjustments	(61)
Accrued balance at March 31, 2023	$	184