Restructuring Plans

9 Months Ended

Sep. 30, 2023

Restructuring and Related Activities [Abstract]

Note 8 — 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 nine months ended September 30, 2023, Abbott recorded employee related severance and other charges of approximately $102 million, of which approximately $31 million was recorded in Cost of products sold, approximately $16 million was recorded in Research and development, and approximately $55 million was recorded in Selling, general and administrative expenses. In addition, Abbott recognized fixed asset impairment charges of approximately $29 million related to these restructuring plans.

The following summarizes the activity related to these restructuring actions and the status of the related accruals as of September 30, 2023:


(in millions)	Total
Accrued balance at December 31, 2022	$	228
Restructuring charges in 2023	102
Payments and other adjustments	(181)
Accrued balance at September 30, 2023	$	149