Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Summary of Operating Leases

The following table provides information related to Abbott’s operating leases:

(in millions, except weighted averages)	2023			2022			2021
Operating lease cost (a)	$	356		$	355		$	359
Cash paid for amounts included in the measurement of operating lease liabilities	276			274			287
ROU assets arising from entering into new operating lease obligations	253			263			343
Weighted average remaining lease term at December 31 (in years)	7			8			8
Weighted average discount rate at December 31	3.4		%	2.9		%	2.7		%

________________________________________________________

(a) Includes short-term lease expense and variable lease costs, which were immaterial in the years ended December 31, 2023, 2022 and 2021.

The following table summarizes the amounts and location of operating lease ROU assets and lease liabilities:

(in millions)	December 31, 2023		December 31, 2022		Balance Sheet Caption
Operating Lease - ROU Asset	$	1,122	$	1,116	Deferred income taxes and other assets
Operating Lease Liability:
Current	$	245	$	230	Other accrued liabilities
Non-current	949		943		Post-employment obligations and other long-term liabilities
Total Liability	$	1,194	$	1,173

Schedule of Future Minimum Lease Payments

Future minimum lease payments under non-cancellable operating leases as of December 31, 2023 were as follows:

(in millions)
2024	$	278
2025	246
2026	206
2027	146
2028	110
Thereafter	376
Total future minimum lease payments – undiscounted	1,362
Less: imputed interest	(168)
Present value of lease liabilities	$	1,194