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Financial Instruments, Derivatives and Fair Value Measures (Tables)
 9 Months Ended
Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Amounts and Location of Derivative and Non-Derivative Financial Instruments
The following table summarizes the amounts and location of certain derivative and non-derivative financial instruments as of September 30, 2024 and December 31, 2023:

Fair Value - AssetsFair Value - Liabilities
(in millions)September 30,
2024		December 31, 2023Balance Sheet CaptionSeptember 30,
2024		December 31, 2023Balance Sheet Caption
Interest rate swaps designated as fair value hedges:
Non-current$— $— Deferred income taxes and other assets$54 $95 Post-employment obligations, deferred income taxes and other long-term liabilities
Current— — Prepaid expenses and other receivables13 — Other accrued liabilities
Foreign currency forward exchange contracts:
Hedging instruments32 88 Prepaid expenses and other receivables166 134 Other accrued liabilities
Others not designated as hedges69 81 Prepaid expenses and other receivables96 97 Other accrued liabilities
Debt designated as a hedge of net investment in a foreign subsidiary— — n/a646 419 Long-term debt
$101 $169 $975 $745 
Schedule of Activity for Foreign Currency Forward Exchange Contracts Designated as Cash Flow Hedges and Certain Other Derivative Financial Instruments
The following table summarizes the activity for foreign currency forward exchange contracts designated as cash flow hedges and certain other derivative financial instruments, as well as the amounts and location of income (expense) and gain (loss) reclassified into income for the three and nine months ended September 30, 2024 and 2023.

Gain (loss) Recognized in Other
Comprehensive Income (loss)		Income (expense) and Gain (loss)
Reclassified into Income
Three Months Ended September 30,Nine Months Ended September 30,Three Months Ended September 30,Nine Months Ended September 30,
(in millions)20242023202420232024202320242023Income Statement Caption
Foreign currency forward exchange contracts designated as cash flow hedges$(199)$125 $39 $152 $42 $22 $85 $211 Cost of products sold
Debt designated as a hedge of net investment in a foreign subsidiary(73)12 (26)45 — — — — n/a
Interest rate swaps designated as fair value hedgesn/an/an/an/a24 (18)28 (15)Interest expense
Schedule of Carrying Values and Fair Values of Financial Instruments
The carrying values and fair values of certain financial instruments as of September 30, 2024 and December 31, 2023 are shown in the following table. The carrying values of all other financial instruments approximate their estimated fair values. The counterparties to financial instruments consist of select major international financial institutions. Abbott does not expect any losses from non-performance by these counterparties.

September 30, 2024December 31, 2023
(in millions)Carrying
Value		Fair
Value		Carrying
Value		Fair
Value
Long-term Investment Securities:
Equity securities$574 $574 $555 $555 
Other338 338 244 244 
Total Long-term Debt(14,979)(15,154)(14,679)(14,769)
Foreign Currency Forward Exchange Contracts:   
Receivable position101 101 169 169 
(Payable) position(262)(262)(231)(231)
Interest Rate Hedge Contracts:    
(Payable) position(67)(67)(95)(95)
Schedule of Bases Used to Measure Assets and Liabilities at Fair Value on a Recurring Basis
The following table summarizes the bases used to measure certain assets and liabilities at fair value on a recurring basis in the balance sheet:

Basis of Fair Value Measurement
(in millions)Outstanding
Balances		Quoted
Prices in
Active
Markets		Significant
Other
Observable
Inputs		Significant
Unobservable
Inputs
September 30, 2024:
Equity securities$334 $334 $— $— 
Foreign currency forward exchange contracts101 — 101 — 
Total Assets$435 $334 $101 $— 
Fair value of hedged long-term debt$2,098 $— $2,098 $— 
Interest rate swap derivative financial instruments67 — 67 — 
Foreign currency forward exchange contracts262 — 262 — 
Contingent consideration related to business combinations59 — — 59 
Total Liabilities$2,486 $— $2,427 $59 
December 31, 2023:
Equity securities$326 $326 $— $— 
Foreign currency forward exchange contracts169 — 169 — 
Total Assets$495 $326 $169 $— 
Fair value of hedged long-term debt$2,052 $— $2,052 $— 
Interest rate swap derivative financial instruments95 — 95 — 
Foreign currency forward exchange contracts231 — 231 — 
Contingent consideration related to business combinations112 — — 112 
Total Liabilities$2,490 $— $2,378 $112