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1、Table of ContentsUNITED STATESSECURITIES AND EXCHANGE COMMISSIONWASHINGTON,D.C.20549FORM 10-Q(Mark One)QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIESEXCHANGE ACT OF 1934For the quarterly period ended June 30,2024OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES

2、EXCHANGE ACT OF 1934For the transition period from toCommission File No.1-2189ABBOTT LABORATORIESAn Illinois CorporationI.R.S.Employer Identification No.36-0698440100 Abbott Park RoadAbbott Park,Illinois 60064-6400Telephone:(224)667-6100Securities Registered Pursuant to Section 12(b)of the Act:Title

3、 of Each ClassTrading Symbol(s)Name of Each Exchange on Which RegisteredCommon Shares,Without Par ValueABTNew York Stock ExchangeChicago Stock Exchange,Inc.Indicate by check mark whether the registrant:(l)has filed all reports required to be filed by Section 13 or 15(d)of the Securities Exchange Act

4、 of l934during the preceding 12 months(or for such shorter period that the registrant was required to file such reports),and(2)has been subject to such filingrequirements for the past 90 days.Yes No Indicate by check mark whether the registrant has submitted electronically every Interactive Data Fil

5、e required to be submitted pursuant to Rule 405 ofRegulation S-T(229.405 of this chapter)during the preceding 12 months(or for such shorter period that the registrant was required to submit such files).Yes No Indicate by check mark whether the registrant is a large accelerated filer,an accelerated f

6、iler,a non-accelerated filer,a smaller reporting company,or anemerging growth company.See the definitions of“large accelerated filer,”“accelerated filer,”“smaller reporting company,”and“emerging growthcompany”in Rule 12b-2 of the Exchange Act.Large Accelerated Filer Accelerated Filer Non-Accelerated

7、 Filer Smaller reporting company Emerging growth company If an emerging growth company,indicate by check mark if the registrant has elected not to use the extended transition period for complying with any newor revised financial accounting standards provided pursuant to Section 13(a)of the Exchange

8、Act.Indicate by check mark whether the registrant is a shell company(as defined in Rule 12b-2 of the Exchange Act).Yes No As of June 30,2024,Abbott Laboratories had 1,739,897,004 common shares without par value outstanding.Table of ContentsAbbott LaboratoriesTable of ContentsPart I-Financial Informa

9、tionPageItem 1.Financial Statements and Supplementary DataCondensed Consolidated Statement of Earnings3Condensed Consolidated Statement of Comprehensive Income4Condensed Consolidated Balance Sheet5Condensed Consolidated Statement of Shareholders Investment6Condensed Consolidated Statement of Cash Fl

10、ows8Notes to the Condensed Consolidated Financial Statements9Item 2.Managements Discussion and Analysis of Financial Condition and Results of Operations25Item 4.Controls and Procedures32Part II-Other Information32Item 1.Legal Proceedings32Item 2.Unregistered Sales of Equity Securities and Use of Pro

11、ceeds32Item 5.Other Information33Item 6.Exhibits33Signature342Table of ContentsAbbott Laboratories and SubsidiariesCondensed Consolidated Statement of Earnings(Unaudited)(dollars in millions except per share data;shares in thousands)Three Months EndedSix Months EndedJune 30June 302024202320242023Net

12、 sales$10,377$9,978$20,341$19,725 Cost of products sold,excluding amortization of intangible assets4,603 4,483 9,066 8,814 Amortization of intangible assets471 498 943 989 Research and development698 715 1,382 1,369 Selling,general and administrative2,936 2,740 5,895 5,502 Total operating cost and e

13、xpenses8,708 8,436 17,286 16,674 Operating earnings1,669 1,542 3,055 3,051 Interest expense140 159 281 312 Interest(income)(82)(98)(162)(199)Net foreign exchange(gain)loss(6)21(6)27 Other(income)expense,net10(176)(101)(287)Earnings before taxes1,607 1,636 3,043 3,198 Taxes on earnings305 261 516 505

14、 Net Earnings$1,302$1,375$2,527$2,693 Basic Earnings Per Common Share$0.74$0.79$1.45$1.54 Diluted Earnings Per Common Share$0.74$0.78$1.44$1.53 Average Number of Common Shares Outstanding Used for Basic Earnings PerCommon Share1,743,040 1,740,359 1,741,595 1,741,051 Dilutive Common Stock Options8,11

15、3 9,889 8,781 9,933 Average Number of Common Shares Outstanding Plus Dilutive Common StockOptions1,751,153 1,750,248 1,750,376 1,750,984 Outstanding Common Stock Options Having No Dilutive Effect8,855 5,474 6,892 5,474 The accompanying notes to the condensed consolidated financial statements are an

16、integral part of this statement.3Table of ContentsAbbott Laboratories and SubsidiariesCondensed Consolidated Statement of Comprehensive Income(Unaudited)(dollars in millions)Three Months EndedSix Months EndedJune 30June 302024202320242023Net Earnings$1,302$1,375$2,527$2,693 Foreign currency translat

17、ion gain(loss)adjustments(36)(52)(422)87 Net actuarial gains(losses)and amortization of net actuarial losses and priorservice costs and credits,net of taxes of$and$1 in 2024 and$(3)and$(3)in20237(6)11(4)Net gains(losses)for derivative instruments designated as cash flow hedges,netof taxes of$27 and$

18、57 in 2024 and$4 and$(54)in 202360 26 115(103)Other comprehensive income(loss)31(32)(296)(20)Comprehensive Income$1,333$1,343$2,231$2,673 June 30,2024December 31,2023Supplemental Accumulated Other Comprehensive Income(Loss)Information,net of tax:Cumulative foreign currency translation(loss)adjustmen

19、ts$(6,926)$(6,504)Net actuarial(losses)and prior service(costs)and credits(1,365)(1,376)Cumulative gains(losses)on derivative instruments designated as cash flow hedges156 41 Accumulated other comprehensive income(loss)$(8,135)$(7,839)The accompanying notes to the condensed consolidated financial st

20、atements are an integral part of this statement.4Table of ContentsAbbott Laboratories and SubsidiariesCondensed Consolidated Balance Sheet(Unaudited)(dollars in millions)June 30,2024December 31,2023AssetsCurrent Assets:Cash and cash equivalents$6,987$6,896 Short-term investments232 383 Trade receiva

21、bles,less allowances of$441 in 2024 and$444 in 20236,854 6,565 Inventories:Finished products4,060 3,946 Work in process880 807 Materials1,874 1,817 Total inventories6,814 6,570 Prepaid expenses and other receivables2,232 2,256 Total Current Assets23,119 22,670 Investments877 799 Property and equipme

22、nt,at cost22,061 21,933 Less:accumulated depreciation and amortization11,828 11,779 Net property and equipment10,233 10,154 Intangible assets,net of amortization7,827 8,815 Goodwill23,308 23,679 Deferred income taxes and other assets7,653 7,097$73,017$73,214 Liabilities and Shareholders InvestmentCu

23、rrent Liabilities:Trade accounts payable$4,125$4,295 Salaries,wages and commissions1,389 1,597 Other accrued liabilities5,071 5,422 Dividends payable959 955 Income taxes payable601 492 Current portion of long-term debt1,615 1,080 Total Current Liabilities13,760 13,841 Long-term debt13,139 13,599 Pos

24、t-employment obligations,deferred income taxes and other long-term liabilities6,558 6,947 Commitments and ContingenciesShareholders Investment:Preferred shares,one dollar par value Authorized 1,000,000 shares,none issued Common shares,without par value Authorized 2,400,000,000 sharesIssued at stated

25、 capital amount Shares:2024:1,990,029,292;2023:1,987,883,85224,858 24,869 Common shares held in treasury,at cost Shares:2024:250,131,563;2023:253,807,494(15,759)(15,981)Earnings employed in the business38,354 37,554 Accumulated other comprehensive income(loss)(8,135)(7,839)Total Abbott Shareholders

26、Investment39,318 38,603 Noncontrolling Interests in Subsidiaries242 224 Total Shareholders Investment39,560 38,827$73,017$73,214 The accompanying notes to the condensed consolidated financial statements are an integral part of this statement.5Table of ContentsAbbott Laboratories and SubsidiariesCond

27、ensed Consolidated Statement of Shareholders Investment(Unaudited)(in millions except shares and per share data)Three Months Ended June 3020242023Common Shares:Balance at March 31Shares:2024:1,989,789,999;2023:1,986,904,170$24,726$24,488 Issued under incentive stock programs Shares:2024:239,293;2023

28、:277,32113 14 Share-based compensation124 119 Issuance of restricted stock awards(5)(9)Balance at June 30 Shares:2024:1,990,029,292;2023:1,987,181,491$24,858$24,612 Common Shares Held in Treasury:Balance at March 31Shares:2024:250,155,515;2023:247,957,371$(15,761)$(15,307)Issued under incentive stoc

29、k programs Shares:2024:27,310;2023:157,3052 10 Purchased Shares:2024:3,358;2023:4,023,445(425)Balance at June 30 Shares:2024:250,131,563;2023:251,823,511$(15,759)$(15,722)Earnings Employed in the Business:Balance at March 31$38,011$35,868 Net earnings1,302 1,375 Cash dividends declared on common sha

30、res(per share 2024:$0.55;2023:$0.51)(961)(889)Effect of common and treasury share transactions2 1 Balance at June 30$38,354$36,355 Accumulated Other Comprehensive Income(Loss):Balance at March 31$(8,166)$(8,039)Other comprehensive income(loss)31(32)Balance at June 30$(8,135)$(8,071)Noncontrolling In

31、terests in Subsidiaries:Balance at March 31$233$222 Noncontrolling Interests share of income,business combinations,net of distributions and share repurchases9 8 Balance at June 30$242$230 The accompanying notes to the condensed consolidated financial statements are an integral part of this statement

32、.6Table of ContentsAbbott Laboratories and SubsidiariesCondensed Consolidated Statement of Shareholders Investment(Unaudited)(in millions except shares and per share data)Six Months Ended June 3020242023Common Shares:Balance at January 1Shares:2024:1,987,883,852;2023:1,986,519,278$24,869$24,709 Issu

33、ed under incentive stock programsShares:2024:2,145,440;2023:662,213100 30 Share-based compensation446 415 Issuance of restricted stock awards(557)(542)Balance at June 30Shares:2024:1,990,029,292;2023:1,987,181,491$24,858$24,612 Common Shares Held in Treasury:Balance at January 1Shares:2024:253,807,4

34、94;2023:248,724,257$(15,981)$(15,229)Issued under incentive stock programsShares:2024:3,865,565;2023:4,090,470244 252 PurchasedShares:2024:189,634;2023:7,189,724(22)(745)Balance at June 30Shares:2024:250,131,563;2023:251,823,511$(15,759)$(15,722)Earnings Employed in the Business:Balance at January 1

35、$37,554$35,257 Net earnings2,527 2,693 Cash dividends declared on common shares(per share 2024:$1.10;2023:$1.02)(1,921)(1,779)Effect of common and treasury share transactions194 184 Balance at June 30$38,354$36,355 Accumulated Other Comprehensive Income(Loss):Balance at January 1$(7,839)$(8,051)Othe

36、r comprehensive income(loss)(296)(20)Balance at June 30$(8,135)$(8,071)Noncontrolling Interests in Subsidiaries:Balance at January 1$224$219 Noncontrolling Interests share of income,business combinations,net of distributions and share repurchases18 11 Balance at June 30$242$230 The accompanying note

37、s to the condensed consolidated financial statements are an integral part of this statement.7Table of ContentsAbbott Laboratories and SubsidiariesCondensed Consolidated Statement of Cash Flows(Unaudited)(dollars in millions)Six Months Ended June 3020242023Cash Flow From(Used in)Operating Activities:

38、Net earnings$2,527$2,693 Adjustments to reconcile net earnings to net cash from operating activities Depreciation667 617 Amortization of intangible assets943 989 Share-based compensation445 413 Trade receivables(476)37 Inventories(513)(667)Other,net(608)(1,736)Net Cash From Operating Activities2,985

39、 2,346 Cash Flow From(Used in)Investing Activities:Acquisitions of property and equipment(931)(887)Acquisitions of businesses and technologies,net of cash acquired(826)Proceeds from business dispositions1 40 Sales(purchases)of other investment securities,net49(7)Other3 5 Net Cash From(Used in)Invest

40、ing Activities(878)(1,675)Cash Flow From(Used in)Financing Activities:Net borrowings(repayments)of short-term debt and other(170)(29)Proceeds from issuance of long-term debt221 1 Repayments of long-term debt(18)(2)Purchases of common shares(229)(966)Proceeds from stock options exercised147 77 Divide

41、nds paid(1,918)(1,780)Net Cash From(Used in)Financing Activities(1,967)(2,699)Effect of exchange rate changes on cash and cash equivalents(49)(19)Net Increase(Decrease)in Cash and Cash Equivalents91(2,047)Cash and Cash Equivalents,Beginning of Year6,896 9,882 Cash and Cash Equivalents,End of Period$

42、6,987$7,835 The accompanying notes to the condensed consolidated financial statements are an integral part of this statement.8Table of ContentsAbbott Laboratories and SubsidiariesNotes to the Condensed Consolidated Financial StatementsJune 30,2024(Unaudited)Note 1 Basis of PresentationThe accompanyi

43、ng unaudited,condensed consolidated financial statements have been prepared pursuant to rules and regulations of the Securities andExchange Commission and,therefore,do not include all information and footnote disclosures normally included in audited financial statements.However,in the opinion of man

44、agement,all adjustments(which include only normal adjustments)necessary to present fairly the results of operations,financialposition and cash flows have been made.It is suggested that these statements be read in conjunction with the financial statements included in AbbottsAnnual Report on Form 10-K

45、 for the year ended December 31,2023.The condensed consolidated financial statements include the accounts of the parentcompany and subsidiaries,after elimination of intercompany transactions.Note 2 New Accounting StandardsRecent Accounting Standards Not Yet AdoptedIn November 2023,the Financial Acco

46、unting Standards Board(FASB)issued Accounting Standards Update(ASU)2023-07,Segment Reporting(Topic280):Improvements to Reportable Segment Disclosures,which expands the breadth and frequency of required segment disclosures.The guidance isrequired to be applied retrospectively to all periods presented

47、 in the financial statements.The standard becomes effective for Abbott for full year 2024reporting and for interim periods beginning in the first quarter of 2025.Abbott is currently evaluating the impact of this new standard on its consolidatedfinancial statements.In December 2023,the FASB issued AS

48、U 2023-09,Income Taxes(Topic 740):Improvements to Income Tax Disclosures,which requires an entity todisclose annually additional information related to the companys income tax rate reconciliation and income taxes paid during the period.The guidanceshould be applied prospectively with the option to a

49、pply the standard retrospectively.The standard becomes effective for Abbott for full year 2025reporting.Abbott is currently evaluating the impact of this new standard on its consolidated financial statements.9Table of ContentsAbbott Laboratories and SubsidiariesNotes to the Condensed Consolidated Fi

50、nancial StatementsJune 30,2024(Unaudited)Note 3 RevenueAbbotts revenues are derived primarily from the sale of a broad line of health care products under short-term receivable arrangements.Abbott has fourreportable segments:Established Pharmaceutical Products,Diagnostic Products,Nutritional Products

51、,and Medical Devices.The following tables provide detail by sales category:Three Months Ended June 30,2024Three Months Ended June 30,2023(in millions)U.S.IntlTotalU.S.IntlTotalEstablished Pharmaceutical Products Key Emerging Markets$988$988$990$990 Other 306 306 297 297 Total 1,294 1,294 1,287 1,287

52、 Nutritionals Pediatric Nutritionals564 495 1,059 507 517 1,024 Adult Nutritionals369 722 1,091 374 678 1,052 Total933 1,217 2,150 881 1,195 2,076 Diagnostics Core Laboratory327 1,002 1,329 311 982 1,293 Molecular33 94 127 43 98 141 Point of Care107 49 156 99 43 142 Rapid Diagnostics345 238 583 508

53、233 741 Total812 1,383 2,195 961 1,356 2,317 Medical Devices Rhythm Management292 315 607 269 314 583 Electrophysiology287 340 627 245 308 553 Heart Failure244 77 321 226 69 295 Vascular275 449 724 264 451 715 Structural Heart258 306 564 219 279 498 Neuromodulation192 51 243 185 42 227 Diabetes Care

54、637 1,011 1,648 505 919 1,424 Total2,185 2,549 4,734 1,913 2,382 4,295 Other4 4 3 3 Total$3,934$6,443$10,377$3,758$6,220$9,978 10Table of ContentsAbbott Laboratories and SubsidiariesNotes to the Condensed Consolidated Financial StatementsJune 30,2024(Unaudited)Note 3 Revenue(Continued)Six Months End

55、ed June 30,2024Six Months Ended June 30,2023(in millions)U.S.IntlTotalU.S.IntlTotalEstablished Pharmaceutical Products Key Emerging Markets$1,916$1,916$1,902$1,902 Other 604 604 574 574 Total 2,520 2,520 2,476 2,476 Nutritionals Pediatric Nutritionals1,078 990 2,068 966 982 1,948 Adult Nutritionals7

56、33 1,417 2,150 727 1,368 2,095 Total1,811 2,407 4,218 1,693 2,350 4,043 Diagnostics Core Laboratory637 1,897 2,534 600 1,875 2,475 Molecular75 181 256 90 198 288 Point of Care205 90 295 192 84 276 Rapid Diagnostics826 498 1,324 1,414 552 1,966 Total1,743 2,666 4,409 2,296 2,709 5,005 Medical Devices

57、 Rhythm Management563 606 1,169 529 581 1,110 Electrophysiology556 658 1,214 483 575 1,058 Heart Failure481 145 626 444 132 576 Vascular529 884 1,413 482 850 1,332 Structural Heart491 588 1,079 429 530 959 Neuromodulation373 96 469 340 83 423 Diabetes Care1,226 1,991 3,217 984 1,753 2,737 Total4,219

58、 4,968 9,187 3,691 4,504 8,195 Other7 7 6 6 Total$7,780$12,561$20,341$7,686$12,039$19,725 Products sold by the Diagnostics segment include various types of diagnostic tests to detect the COVID-19 coronavirus.In the second quarter of 2024 and2023,COVID-19 testing-related sales totaled$102 million and

59、$263 million,respectively.In the first six months of 2024 and 2023,Abbotts COVID-19testing-related sales totaled$306 million and$993 million,respectively.Remaining Performance ObligationsAs of June 30,2024,the estimated revenue expected to be recognized in the future related to performance obligatio

60、ns that are unsatisfied(or partiallyunsatisfied)was approximately$4.8 billion in the Diagnostics segment and approximately$493 million in the Medical Devices segment.Abbott expects torecognize revenue on approximately 60 percent of these remaining performance obligations over the next 24 months,appr

61、oximately 17 percent over thesubsequent 12 months and the remainder thereafter.11Table of ContentsAbbott Laboratories and SubsidiariesNotes to the Condensed Consolidated Financial StatementsJune 30,2024(Unaudited)Note 3 Revenue(Continued)These performance obligations primarily reflect the future sal

62、e of reagents/consumables in contracts with minimum purchase obligations,extendedwarranty or service obligations related to previously sold equipment,and remote monitoring services related to previously implanted devices.Abbott hasapplied the practical expedient described in FASB Accounting Standard

63、s Codification(ASC)606-10-50-14 and has not included remaining performanceobligations related to contracts with original expected durations of one year or less in the amounts above.Other Contract Assets and LiabilitiesAbbott discloses Trade receivables separately in the Condensed Consolidated Balanc

64、e Sheet at the net amount expected to be collected.Contract assetsprimarily relate to Abbotts conditional right to consideration for work completed but not billed at the reporting date.Contract assets at the beginning andthe end of the period,as well as the changes in the balance,were not significan

65、t.Contract liabilities primarily relate to payments received from customers in advance of performance under the contract.Abbotts contract liabilities ariseprimarily in the Medical Devices reportable segment when payment is received upfront for various multi-period extended service arrangements.Chang

66、es in the contract liabilities during the period are as follows:(in millions)Contract Liabilities:Balance at December 31,2023$545 Unearned revenue from cash received during the period232 Revenue recognized related to contract liability balance(233)Balance at June 30,2024$544 Note 4 Supplemental Fina

67、ncial InformationShares of unvested restricted stock that contain non-forfeitable rights to dividends are treated as participating securities and are included in the computationof earnings per share under the two-class method.Under the two-class method,net earnings are allocated between common share

68、s and participatingsecurities.Net earnings allocated to common shares for the three months ended June 30,2024 and 2023 were$1.297 billion and$1.370 billion,respectively,and for the six months ended June 30,2024 and 2023 were$2.517 billion and$2.682 billion,respectively.In the second quarter of 2024,

69、Abbott sold a non-core business related to its Established Pharmaceutical Products segment.Abbott recorded a loss ofapproximately$143 million on the sale in Other(income)expense,net in its Condensed Consolidated Statement of Earnings.Net assets which primarilyrelated to inventory and net property an

70、d equipment and had a carrying value of$28 million were included in the sale.The loss on the sale also included$116 million of cumulative foreign currency translation adjustment previously recorded in Accumulated other comprehensive income(loss).Other,net in Net cash from operating activities in the

71、 Condensed Consolidated Statement of Cash Flows for the first six months of 2024 includes$289million of pension contributions and the payment of cash taxes of approximately$747 million.The first six months of 2023 included$290 million ofpension contributions and the payment of cash taxes of approxim

72、ately$837 million.12Table of ContentsAbbott Laboratories and SubsidiariesNotes to the Condensed Consolidated Financial StatementsJune 30,2024(Unaudited)Note 4 Supplemental Financial Information(Continued)The following summarizes the activity for the first six months of 2024 related to the allowance

73、for doubtful accounts as of June 30,2024:(in millions)Allowance for Doubtful Accounts:Balance at December 31,2023$241 Provisions/charges to income42 Amounts charged off and other deductions(28)Balance at June 30,2024$255 The allowance for doubtful accounts reflects the current estimate of credit los

74、ses expected to be incurred over the life of the accounts receivable.Abbottconsiders various factors in establishing,monitoring,and adjusting its allowance for doubtful accounts,including the aging of the accounts and agingtrends,the historical level of charge-offs,and specific exposures related to

75、particular customers.Abbott also monitors other risk factors and forward-looking information,such as country risk,when determining credit limits for customers and establishing adequate allowances.The components of long-term investments as of June 30,2024 and December 31,2023 are as follows:(in milli

76、ons)June 30,2024December 31,2023Long-term Investments:Equity securities$549$555 Other328 244 Total$877$799 The increase in Abbotts long-term investments as of June 30,2024 versus the balance as of December 31,2023 primarily relates to additional investmentsand earnings from equity method investments

77、,partially offset by the impairment of certain securities.Abbotts equity securities as of June 30,2024 include$311 million of investments in mutual funds that are held in a rabbi trust.These investments,whichare specifically designated as available for the purpose of paying benefits under a deferred

78、 compensation plan,are not available for general corporatepurposes and are subject to creditor claims in the event of insolvency.Abbott also holds certain investments as of June 30,2024 with a carrying value of$162 million that are accounted for under the equity method ofaccounting and other equity

79、investments with a carrying value of approximately$65 million that do not have a readily determinable fair value.13Table of ContentsAbbott Laboratories and SubsidiariesNotes to the Condensed Consolidated Financial StatementsJune 30,2024(Unaudited)Note 5 Changes In Accumulated Other Comprehensive Inc

80、ome(Loss)The changes in accumulated other comprehensive income(loss),net of income taxes,are as follows:Three Months Ended June 30Cumulative ForeignCurrency Translation(Loss)AdjustmentsNet Actuarial(Losses)andPrior Service(Costs)and CreditsCumulative Gains(Losses)on Derivative Instruments Designated

81、 as Cash Flow Hedges(in millions)202420232024202320242023Balance at March 31$(6,890)$(6,594)$(1,372)$(1,491)$96$46 Other comprehensive income(loss)beforereclassifications(152)(52)3 1 77 80 Amounts reclassified from accumulatedother comprehensive income116 4(7)(17)(54)Net current period comprehensive

82、 income(loss)(36)(52)7(6)60 26 Balance at June 30$(6,926)$(6,646)$(1,365)$(1,497)$156$72 Six Months Ended June 30Cumulative Foreign Currency Translation(Loss)AdjustmentsNet Actuarial(Losses)and Prior Service(Costs)and CreditsCumulative Gains(Losses)on Derivative Instruments Designated as Cash Flow H

83、edges(in millions)20242023202420232024 2023Balance at January 1$(6,504)$(6,733)$(1,376)$(1,493)$41$175 Other comprehensive income(loss)beforereclassifications(538)87 5 3 145 38 Amounts reclassified from accumulatedother comprehensive income116 6(7)(30)(141)Net current period comprehensive income(los

84、s)(422)87 11(4)115(103)Balance at June 30$(6,926)$(6,646)$(1,365)$(1,497)$156$72 Reclassified amounts for cash flow hedges are recorded as Cost of products sold.Net actuarial losses and prior service cost are included as a component ofnet periodic benefit costs;see Note 13 Post-Employment Benefits f

85、or additional details.14Table of ContentsAbbott Laboratories and SubsidiariesNotes to the Condensed Consolidated Financial StatementsJune 30,2024(Unaudited)Note 6 Business AcquisitionOn September 22,2023,Abbott completed the acquisition of Bigfoot Biomedical,Inc.(Bigfoot),which furthers Abbotts effo

86、rts to develop connectedsolutions for making diabetes management more personal and precise.The purchase price,the final allocation of acquired assets and liabilities,and therevenue and net income contributed by Bigfoot since the date of acquisition are not material to Abbotts condensed consolidated

87、financial statements.On April 27,2023,Abbott completed the acquisition of Cardiovascular Systems,Inc.(CSI)for$20 per common share,which equated to a purchase priceof$851 million.The transaction was funded with cash on hand and accounted for as a business combination.CSIs atherectomy system,which is

88、used intreating peripheral and coronary artery disease,adds complementary technologies to Abbotts portfolio of vascular device offerings.The final allocation of the purchase price of the CSI acquisition resulted in the recording of two non-deductible developed technology intangible assetstotaling$30

89、5 million;a non-deductible in-process research and development asset of$15 million,which will be accounted for as an indefinite-livedintangible asset until regulatory approval or discontinuation;non-deductible goodwill of$369 million;net deferred tax assets of$46 million and other netassets of$116 m

90、illion.The goodwill is identifiable to the Medical Devices reportable segment and is attributable to expected synergies from combiningoperations,as well as intangible assets that do not qualify for separate recognition.Revenues and earnings of CSI included in Abbotts condensedconsolidated financial

91、statements since the acquisition date are not material to Abbotts consolidated revenue and earnings.Note 7 Goodwill and Intangible AssetsThe total amount of goodwill reported was$23.3 billion at June 30,2024 and$23.7 billion at December 31,2023.The amount of goodwill related toreportable segments at

92、 June 30,2024 was$2.6 billion for the Established Pharmaceutical Products segment,$285 million for the Nutritional Productssegment,$3.5 billion for the Diagnostic Products segment,and$16.9 billion for the Medical Devices segment.Foreign currency translation adjustmentsdecreased goodwill by approxima

93、tely$332 million in the first six months of 2024.Goodwill decreased$39 million due to the finalization of purchaseaccounting for business acquisitions.There were no reductions of goodwill relating to impairments in the first six months of 2024.The gross amount of amortizable intangible assets,primar

94、ily product rights and technology,was$27.5 billion and$27.7 billion as of June 30,2024 andDecember 31,2023,respectively.Accumulated amortization was$20.5 billion and$19.7 billion as of June 30,2024 and December 31,2023,respectively.In the first six months of 2024,intangible assets decreased$46 milli

95、on due to foreign currency translation and$8 million due to an impairment charge.Abbotts estimated annual amortization expense for intangible assets is approximately$1.9 billion in 2024,$1.7 billion in 2025,$1.6 billion in 2026,$1.3billion in 2027 and$0.7 billion in 2028.Indefinite-lived intangible

96、assets,which relate to in-process research and development(IPR&D)acquired in a business combination,were approximately$798 million as of June 30,2024 and$787 million as of December 31,2023.In the second quarter of 2024,IPR&D increased$35 million due to thefinalization of purchase accounting related

97、to a business acquisition.This increase was partially offset by$25 million of charges recorded on the Researchand development line of the Condensed Consolidated Statement of Earnings for the impairment of an indefinite-lived intangible asset related to the MedicalDevices reportable segment.15Table o

98、f ContentsAbbott Laboratories and SubsidiariesNotes to the Condensed Consolidated Financial StatementsJune 30,2024(Unaudited)Note 8 Restructuring PlansIn 2024,Abbott management approved plans to streamline operations in order to reduce costs and improve efficiencies in its diagnostic,medical devices

99、and nutritional businesses,including the discontinuation of its ZonePerfect product line.In the six months ended June 30,2024,Abbott recordedemployee related severance and other charges of$59 million,of which$38 million was recorded in Cost of products sold,$2 million was recorded inResearch and dev

100、elopment,and$19 million was recorded in Selling,general and administrative expenses.Payments related to these actions totaled$8million in the first six months of 2024 and the remaining liabilities totaled$51 million at June 30,2024.In addition,Abbott recognized asset impairmentcharges of$28 million

101、related to these restructuring plans.In 2023 and 2022,Abbott management approved plans to restructure or streamline various operations in order to reduce costs in its medical devices,diagnostic,nutritional and established pharmaceutical businesses.The following summarizes the activity related to the

102、se restructuring actions and the statusof the related accruals as of June 30,2024:(in millions)TotalAccrued balance at December 31,2023$137 Payments and other adjustments(69)Accrued balance at June 30,2024$68 Note 9 Incentive Stock ProgramsIn the first six months of 2024,Abbott granted 1,683,097 sto

103、ck options,404,597 restricted stock awards and 5,265,995 restricted stock units under itsincentive stock program.At June 30,2024,approximately 60 million shares were reserved for future grants.Information regarding the number of optionsoutstanding and exercisable at June 30,2024 is as follows:Outsta

104、ndingExercisableNumber of shares28,058,739 24,125,493 Weighted average remaining life(years)4.84.2Weighted average exercise price$78.94$73.34 Aggregate intrinsic value(in millions)$815$815 The total unrecognized share-based compensation cost at June 30,2024 amounted to approximately$675 million whic

105、h is expected to be recognized overthe next three years.Note 10 Debt and Lines of CreditOn June 26,2024,Abbott modified its existing,yen-denominated 5-year term loan scheduled to mature in November 2024.The amended terms include anet increase in principal debt from 59.8 billion to 92.0 billion,with

106、a new maturity date in June 2029.The modified,5-year term loan bears interest at theTokyo Interbank Offered Rate(TIBOR)plus a fixed spread,and the interest rate is reset quarterly.The net proceeds equated to approximately$201 million.Abbott has readily available financial resources,including unused

107、lines of credit that support commercial paper borrowing arrangements and provideAbbott with the ability to borrow up to$5 billion on an unsecured basis.On January 29,2024,Abbott terminated its 2020 Five Year Credit Agreement(2020 Agreement)and entered into a new Five Year Credit Agreement(Revolving

108、Credit Agreement).There were no outstanding borrowings under the2020 Agreement at the time of its termination.Any borrowings under the Revolving Credit Agreement will mature and be payable on January 29,2029 andwill bear interest,at Abbotts option,based on either a base rate or Secured Overnight Fin

109、ancing Rate(SOFR),plus an applicable margin based on Abbottscredit ratings.16Table of ContentsAbbott Laboratories and SubsidiariesNotes to the Condensed Consolidated Financial StatementsJune 30,2024(Unaudited)Note 11 Financial Instruments,Derivatives and Fair Value MeasuresCertain Abbott foreign sub

110、sidiaries enter into foreign currency forward exchange contracts to manage exposures to changes in foreign exchange rates,primarily for anticipated intercompany purchases by those subsidiaries whose functional currencies are not the U.S.dollar.These contracts,with grossnotional amounts totaling$7.2

111、billion at June 30,2024 and$7.3 billion at December 31,2023,are designated as cash flow hedges of the variability of thecash flows due to changes in foreign exchange rates and are recorded at fair value.Accumulated gains and losses as of June 30,2024 will be included inCost of products sold at the t

112、ime the products are sold,generally through the next twelve to eighteen months.Abbott enters into foreign currency forward exchange contracts to manage currency exposures for foreign currency denominated third-party trade payablesand receivables,and for intercompany loans and trade accounts payable

113、where the receivable or payable is denominated in a currency other than thefunctional currency of the entity.For intercompany loans,the contracts require Abbott to sell or buy foreign currencies,primarily European currencies,inexchange for primarily U.S.dollars and other European currencies.For inte

114、rcompany and trade payables and receivables,the currency exposures areprimarily the U.S.dollar and European currencies.At June 30,2024 and December 31,2023,Abbott held the gross notional amounts of$13.0 billion and$13.8 billion,respectively,of such foreign currency forward exchange contracts.Abbott

115、has designated a yen-denominated,5-year term loan of$573 million and$419 million as of June 30,2024 and December 31,2023,respectively,asa hedge of the net investment in certain foreign subsidiaries.The change in the value of the debt is due to the net incremental borrowing of$201 milliondiscussed in

116、 Note 10 Debt and Lines of Credit,as well as changes in foreign exchange rates,recorded in Accumulated other comprehensive income(loss),net of tax.Abbott is a party to interest rate hedge contracts with a notional amount totaling approximately$2.2 billion at June 30,2024 and December 31,2023 tomanag

117、e its exposure to changes in the fair value of fixed-rate debt.These contracts are designated as fair value hedges of the variability of the fair value offixed-rate debt due to changes in the long-term benchmark interest rates.The effect of the hedge is to change a fixed-rate interest obligation to

118、a variablerate for that portion of the debt.Abbott records the contracts at fair value and adjusts the carrying amount of the fixed-rate debt by an offsetting amount.17Table of ContentsAbbott Laboratories and SubsidiariesNotes to the Condensed Consolidated Financial StatementsJune 30,2024(Unaudited)

119、Note 11 Financial Instruments,Derivatives and Fair Value Measures(Continued)The following table summarizes the amounts and location of certain derivative and non-derivative financial instruments as of June 30,2024 andDecember 31,2023:Fair Value-AssetsFair Value-Liabilities(in millions)June 30,2024De

120、cember 31,2023Balance Sheet CaptionJune 30,2024December 31,2023Balance Sheet CaptionInterest rate swaps designated as fair valuehedges:Non-current$Deferred incometaxes and other assets$74$95 Post-employmentobligations,deferredincome taxes andother long-termliabilitiesCurrent Prepaid expenses andothe

121、r receivables17 Other accruedliabilitiesForeign currency forward exchangecontracts:Hedging instruments161 88 Prepaid expenses andother receivables21 134 Other accruedliabilitiesOthers not designated as hedges49 81 Prepaid expenses andother receivables36 97 Other accruedliabilitiesDebt designated as

122、a hedge of netinvestment in a foreign subsidiary n/a573 419 Long-term debt$210$169$721$745 18Table of ContentsAbbott Laboratories and SubsidiariesNotes to the Condensed Consolidated Financial StatementsJune 30,2024(Unaudited)Note 11 Financial Instruments,Derivatives and Fair Value Measures(Continued

123、)The following table summarizes the activity for foreign currency forward exchange contracts designated as cash flow hedges and certain other derivativefinancial instruments,as well as the amounts and location of income(expense)and gain(loss)reclassified into income for the three and six months ende

124、dJune 30,2024 and 2023.Gain(loss)Recognized in Other Comprehensive Income(loss)Income(expense)and Gain(loss)Reclassified into IncomeThree MonthsEnded June 30Six MonthsEnded June 30Three MonthsEnded June 30Six MonthsEnded June 30(in millions)20242023202420232024202320242023Income StatementCaptionFore

125、ign currency forwardexchange contractsdesignated as cash flowhedges$111$90$238$27$25$63$43$189 Cost of productssoldDebt designated as a hedgeof net investment in aforeign subsidiary23 38 47 33 n/aInterest rate swapsdesignated as fair valuehedgesn/an/an/an/a28(6)4 3 Interest expenseGains of$43 millio

126、n and$39 million were recognized in the three months ended June 30,2024 and 2023,respectively,related to foreign currency forwardexchange contracts not designated as a hedge.A gain of$135 million and a loss of$64 million were recognized in the six months ended June 30,2024 and2023,respectively,relat

127、ed to foreign currency forward exchange contracts not designated as a hedge.These amounts are reported in the CondensedConsolidated Statement of Earnings on the Net foreign exchange(gain)loss line.The carrying values and fair values of certain financial instruments as of June 30,2024 and December 31

128、,2023 are shown in the following table.Thecarrying values of all other financial instruments approximate their estimated fair values.The counterparties to financial instruments consist of select majorinternational financial institutions.Abbott does not expect any losses from non-performance by these

129、 counterparties.June 30,2024December 31,2023(in millions)Carrying ValueFair ValueCarrying ValueFair ValueLong-term Investment Securities:Equity securities$549$549$555$555 Other328 328 244 244 Total Long-term Debt(14,754)(14,252)(14,679)(14,769)Foreign Currency Forward Exchange Contracts:Receivable p

130、osition210 210 169 169(Payable)position(57)(57)(231)(231)Interest Rate Hedge Contracts:(Payable)position(91)(91)(95)(95)The fair value of the debt was determined based on significant other observable inputs,including current interest rates.19Table of ContentsAbbott Laboratories and SubsidiariesNotes

131、 to the Condensed Consolidated Financial StatementsJune 30,2024(Unaudited)Note 11 Financial Instruments,Derivatives and Fair Value Measures(Continued)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

132、of Fair Value Measurement(in millions)OutstandingBalancesQuotedPrices in Active MarketsSignificantOther Observable InputsSignificantUnobservable InputsJune 30,2024:Equity securities$322$322$Foreign currency forward exchange contracts210 210 Total Assets$532$322$210$Fair value of hedged long-term deb

133、t$2,056$2,056$Interest rate swap derivative financial instruments91 91 Foreign currency forward exchange contracts57 57 Contingent consideration related to business combinations59 59 Total Liabilities$2,263$2,204$59 December 31,2023:Equity securities$326$326$Foreign currency forward exchange contrac

134、ts169 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 The fair v

135、alue of foreign currency forward exchange contracts is determined using a market approach,which utilizes values for comparable derivativeinstruments.The fair value of debt was determined based on the face value of the debt adjusted for the fair value of the interest rate swaps,which is basedon a dis

136、counted cash flow analysis using significant other observable inputs.The fair value of the contingent consideration was determined based onindependent appraisals at the time of acquisition,adjusted for the time value of money and other changes in fair value.The decrease in the amount ofcontingent co

137、nsideration from December 31,2023 reflects a payment of$40 million and a$13 million change in the fair value of the remaining contingentconsideration.The maximum amount for certain contingent consideration is not determinable as it is based on a percent of certain sales.Excluding such contingentcons

138、ideration,the maximum amount that may be due under the other contingent consideration arrangements was estimated at June 30,2024 to beapproximately$115 million,which is dependent upon attaining certain sales thresholds or upon the occurrence of certain events,such as regulatoryapprovals.20Table of C

139、ontentsAbbott Laboratories and SubsidiariesNotes to the Condensed Consolidated Financial StatementsJune 30,2024(Unaudited)Note 12 Litigation and Environmental MattersAbbott has been identified as a potentially responsible party for investigation and cleanup costs at a number of locations in the Unit

140、ed States and PuertoRico under federal and state remediation laws and is investigating potential contamination at a number of company-owned locations.Abbott has recordedan estimated cleanup cost for each site for which management believes Abbott has a probable loss exposure.No individual site cleanu

141、p exposure isexpected to exceed$4 million,and the aggregate cleanup exposure is not expected to exceed$10 million.Abbott has been named as a defendant in a number of lawsuits alleging that its preterm infant formula and human milk fortifier products that contain cowsmilk cause an intestinal disease

142、known as necrotizing enterocolitis(NEC)and inadequately warn about the risk of NEC.These lawsuits claim that certainpreterm infants suffered injury or death as a result of contracting NEC.Abbott denies the allegations in these lawsuits.In July 2024,a jury in a Missouristate court awarded a plaintiff

143、$495 million in a trial against Abbott.Abbott stands by its products and the information it provided about them,and it plansto appeal this jurys verdict.Abbott does not believe that it is probable that a material loss will be incurred related to these lawsuits and therefore,noreserves have been reco

144、rded for these lawsuits.Given the uncertainty as to the possible outcome in each of these lawsuits,Abbott is unable to reasonablyestimate a range of possible loss related to these lawsuits.Abbott is involved in various claims and legal proceedings,and Abbott estimates the range of possible loss for

145、its legal proceedings and environmentalexposures to be from approximately$40 million to$50 million.The recorded accrual balance at June 30,2024 for these proceedings and exposures wasapproximately$45 million.This accrual represents managements best estimate of probable loss,as defined by FASB ASC No

146、.450,“Contingencies.”Within the next year,legal proceedings may occur that may result in a change in the estimated loss accrued by Abbott.While it is not feasible to predict theoutcome of all such proceedings and exposures with certainty,management believes that their ultimate disposition should not

147、 have a material adverse effecton Abbotts financial position,cash flows,or results of operations,except for the cases discussed in the second paragraph of this note,the resolution ofwhich could be material to cash flows or results of operations.Note 13 Post-Employment BenefitsRetirement plans consis

148、t of defined benefit,defined contribution,and medical and dental plans.Net periodic benefit costs,other than service costs,arerecognized in the Other(income)expense,net line of the Condensed Consolidated Statement of Earnings.Net costs recognized for the three and six monthsended June 30 for Abbotts

149、 major defined benefit plans and post-employment medical and dental benefit plans are as follows:Defined Benefit PlansMedical and Dental PlansThree MonthsEnded June 30Six Months Ended June 30Three MonthsEnded June 30Six Months Ended June 30(in millions)20242023202420232024202320242023Service cost-be

150、nefits earned duringthe period$60$58$121$118$10$10$20$19 Interest cost on projected benefitobligations116 114 234 228 12 16 27 30 Expected return on plan assets(263)(243)(525)(485)(6)(6)(12)(12)Curtailment gain(14)(14)Net amortization of:Actuarial loss,net6 3 12 6(1)(1)(1)(1)Prior service cost(credi

151、t)1 1 (4)(4)(7)(7)Net cost(credit)$(80)$(82)$(157)$(147)$11$15$27$29 21Table of ContentsAbbott Laboratories and SubsidiariesNotes to the Condensed Consolidated Financial StatementsJune 30,2024(Unaudited)Note 13 Post-Employment Benefits(Continued)Abbott funds its domestic defined benefit plans accord

152、ing to Internal Revenue Service funding limitations.International pension plans are fundedaccording to similar regulations.In the first six months of 2024 and 2023,$289 million and$290 million,respectively,were contributed to defined benefitplans.In the first six months of 2024 and 2023,$28 million

153、was contributed,in each year,to the post-employment medical and dental plans.Note 14 Taxes on EarningsTaxes on earnings reflect the estimated annual effective rates and include charges for interest and penalties.In the first six months of 2024 and 2023,taxeson earnings include approximately$29 milli

154、on and$9 million,respectively,in excess tax benefits associated with share-based compensation.In the first sixmonths of 2024 and 2023,taxes on earnings also include approximately$35 million and$62 million,respectively,of tax expense as the result of theresolution of various tax positions related to

155、prior years.Tax authorities in various jurisdictions regularly review Abbotts income tax filings.Abbott believes that it is reasonably possible that the recorded amountof gross unrecognized tax benefits may decrease approximately$90 million to$1.34 billion,including cash adjustments,within the next

156、twelve months as aresult of concluding various domestic and international tax matters.In September 2023,Abbott received a Statutory Notice of Deficiency(SNOD)from the U.S.Internal Revenue Service(IRS)for the 2019 Federal tax yearin the amount of$417 million.The primary adjustments proposed in the SN

157、OD relate to the reallocation of income between Abbotts U.S.entities and itsforeign affiliates.Abbott believes that the income reallocation adjustments proposed in the SNOD are without merit,in part because certain adjustmentscontradict methods that were agreed to with the IRS in prior audit periods

158、.The SNOD also contains other proposed adjustments that Abbott believes areerroneous and unsupported.Abbott filed a petition with the U.S.Tax Court contesting the SNOD in December 2023.In June 2024,Abbott received a SNOD from the IRS for the 2017 and 2018 Federal tax years in the amount of$192 milli

159、on.The matters proposed in the2017/2018 SNOD are substantially similar to the income allocation adjustments included in the 2019 SNOD.Abbott intends to file a petition with the U.S.Tax Court contesting the 2017/2018 SNOD in a manner consistent with its petition for the 2019 SNOD.In June 2024,Abbott

160、received a Revenue Agents Report(RAR)from the IRS for the 2020 Federal tax year assessing an additional$443 million of incometax.The primary adjustments proposed in the RAR are substantially similar to the income allocation adjustments included in the 2017/2018 and 2019SNODs.Abbott believes that the

161、 income reallocation adjustments proposed in the RAR are without merit.The RAR also contains other proposedadjustments and omissions that Abbott believes are erroneous and unsupported.In addition to the tax assessment for the 2020 tax year,the 2020 RAR alsocontested a deduction for which an estimate

162、d$440 million cash tax benefit would be available in a different taxable year as allowed under applicable U.S.tax law.Abbott is contesting these RAR findings and intends to continue to do so.Abbott intends to vigorously defend its filing positions through ongoing discussions with the IRS,the IRS ind

163、ependent appeals process and/or throughlitigation as necessary.Abbott reserves for uncertain tax positions related to unresolved matters with the IRS and other taxing authorities.Abbott continuesto believe that its reserves for uncertain tax positions are appropriate.The Organization for Economic Co

164、operation&Development(OECD)has proposed a two-pillared plan for a revised international tax system.Pillar 1proposes to reallocate taxing rights among the jurisdictions in which in-scope multinational corporations operate.Abbott is continuing to analyze the Pillar1 proposal.Pillar 2 proposes to asses

165、s a 15 percent minimum tax on the earnings of in-scope multinational corporations on a country-by-country basis.Numerous countries have enacted legislation to adopt the Pillar 2 model rules.A subset of the rules became effective January 1,2024,and the remainingrules become effective January 1,2025 o

166、r later.Abbott continues to analyze the Pillar 2 model rules.The full implementation of the model rules may havea material impact on Abbotts condensed consolidated financial statements in the future.22Table of ContentsAbbott Laboratories and SubsidiariesNotes to the Condensed Consolidated Financial

167、StatementsJune 30,2024(Unaudited)Note 15 Segment InformationAbbotts principal business is the discovery,development,manufacture and sale of a broad line of health care products.Abbotts products are generallysold directly to retailers,wholesalers,hospitals,health care facilities,laboratories,physicia

168、ns offices and government agencies throughout the world.Abbotts reportable segments are as follows:Established Pharmaceutical Products International sales of a broad line of branded generic pharmaceutical products.Nutritional Products Worldwide sales of a broad line of adult and pediatric nutritiona

169、l products.Diagnostic Products Worldwide sales of diagnostic systems and tests for blood banks,hospitals,commercial laboratories and alternate-care testing sites.For segment reporting purposes,the Core Laboratory Diagnostics,Rapid Diagnostics,Molecular Diagnostics and Point of Care Diagnostics busin

170、esses areaggregated and reported as the Diagnostic Products segment.Medical Devices Worldwide sales of rhythm management,electrophysiology,heart failure,vascular,structural heart,neuromodulation and diabetes careproducts.For segment reporting purposes,the Cardiac Rhythm Management,Electrophysiology,

171、Heart Failure,Vascular,Structural Heart,Neuromodulation and Diabetes Care divisions are aggregated and reported as the Medical Devices segment.Abbotts underlying accounting records are maintained on a legal entity basis for government and public reporting requirements.Segment disclosures areon a per

172、formance basis consistent with internal management reporting.Intersegment transfers of inventory are recorded at standard cost and are not ameasure of segment operating earnings.The cost of some corporate functions and the cost of certain employee benefits are charged to segments atpredetermined rat

173、es that approximate cost.Remaining costs,if any,are not allocated to segments.In addition,intangible asset amortization is not allocatedto operating segments,and intangible assets and goodwill are not included in the measure of each segments assets.23Table of ContentsAbbott Laboratories and Subsidia

174、riesNotes to the Condensed Consolidated Financial StatementsJune 30,2024(Unaudited)Note 15 Segment Information(Continued)The following segment information has been prepared in accordance with the internal accounting policies of Abbott,as described above,and is notpresented in accordance with general

175、ly accepted accounting principles applied to the consolidated financial statements.Net Sales to External CustomersOperating EarningsThree Months Ended June 30Six MonthsEnded June 30Three Months Ended June 30Six MonthsEnded June 30(in millions)20242023202420232024 2023 2024 2023Established Pharmaceut

176、icalProducts$1,294$1,287$2,520$2,476$315$307$582$607 Nutritional Products2,150 2,076 4,218 4,043 373 308 750 688 Diagnostic Products2,195 2,317 4,409 5,005 430 437 904 1,088 Medical Devices4,734 4,295 9,187 8,195 1,507 1,385 2,867 2,463 Total Reportable Segments10,373 9,975 20,334 19,719 2,625 2,437

177、 5,103 4,846 Other4 3 7 6 Net sales$10,377$9,978$20,341$19,725 Corporate functions and benefitplan costs(80)(71)(146)(148)Net interest expense(58)(61)(119)(113)Share-based compensation(a)(141)(132)(445)(413)Amortization of intangible assets(471)(498)(943)(989)Other,net(b)(268)(39)(407)15 Earnings be

178、fore taxes$1,607$1,636$3,043$3,198 _(a)Approximately 45 percent of the annual net cost of share-based awards will typically be recognized in the first quarter due to the timing of the granting ofshare-based awards.(b)Other,net for the three and six months ended June 30,2024 and 2023 includes charges

179、 related to restructurings,the impairment of IPR&D assets andintegration costs related to business combinations.Other,net for the three and six months ended June 30,2024 also includes a loss on the divestiture of anon-core business.Other,net for the six months ended June 30,2024 also includes impair

180、ment charges related to various investments.For the three and sixmonths ended June 30,2023,Other,net includes income arising from fair value changes in contingent consideration related to previous businesscombinations.24Table of ContentsItem 2.Managements Discussion and Analysis of Financial Conditi

181、on and Results of OperationsFinancial Review Results of OperationsAbbotts revenues are derived primarily from the sale of a broad line of health care products under short-term receivable arrangements.Patent protectionand licenses,technological and performance features,and inclusion of Abbotts produc

182、ts under a contract most impact which products are sold;pricecontrols,competition and rebates most impact the net selling prices of products;and foreign currency translation impacts the measurement of net sales andcosts.Abbotts primary products are medical devices,diagnostic testing products,nutriti

183、onal products and branded generic pharmaceuticals.The following tables detail sales by reportable segment for the three and six months ended June 30.Percent changes are versus the prior year and are basedon unrounded numbers.Net Sales to External Customers(in millions)Three MonthsEnded June 30,2024T

184、hree MonthsEnded June 30,2023TotalChangeImpact ofForeign ExchangeTotal Change Excl.Foreign ExchangeEstablished Pharmaceutical Products$1,294$1,287 0.6%(7.5)%8.1%Nutritional Products2,150 2,076 3.5(3.6)7.1 Diagnostic Products2,195 2,317(5.3)(3.8)(1.5)Medical Devices4,734 4,295 10.2(2.2)12.4 Total Rep

185、ortable Segments10,373 9,975 4.0(3.5)7.5 Other4 3 n/mn/mn/mNet Sales$10,377$9,978 4.0(3.5)7.5 Total U.S.$3,934$3,758 4.7 4.7 Total International$6,443$6,220 3.6(5.6)9.2 Net Sales to External Customers(in millions)Six Months Ended June 30,2024Six Months Ended June 30,2023Total ChangeImpact of Foreign

186、 ExchangeTotal Change Excl.Foreign ExchangeEstablished Pharmaceutical Products$2,520$2,476 1.8%(9.0)%10.8%Nutritional Products4,218 4,043 4.3(3.1)7.4 Diagnostic Products4,409 5,005(11.9)(2.9)(9.0)Medical Devices9,187 8,195 12.1(1.7)13.8 Total Reportable Segments20,334 19,719 3.1(3.2)6.3 Other7 6 n/m

187、n/mn/mNet Sales$20,341$19,725 3.1(3.2)6.3 Total U.S.$7,780$7,686 1.2 1.2 Total International$12,561$12,039 4.3(5.3)9.6 _Notes:In order to compute results excluding the impact of exchange rates,current year U.S.dollar sales are multiplied or divided,as appropriate,by the current yearaverage foreign e

188、xchange rates and then those amounts are multiplied or divided,as appropriate,by the prior year average foreign exchange rates.n/m=Percent change is not meaningful25Table of ContentsThe 7.5 percent increase in total net sales during the second quarter of 2024,excluding the impact of foreign exchange

189、,reflected higher sales in the MedicalDevices,Nutritional Products,and Established Pharmaceutical Products segments,partially offset by a decrease in demand for Abbotts rapid diagnostictests to detect COVID-19.Abbotts COVID-19 testing-related sales totaled$102 million during the second quarter of 20

190、24 and$263 million during thesecond quarter of 2023.Excluding the impact of COVID-19 testing-related sales,Abbotts total net sales increased 5.7 percent.Excluding the impacts ofCOVID-19 testing-related sales and foreign exchange,Abbotts total net sales increased 9.3 percent.Abbotts net sales were un

191、favorably impacted bychanges in foreign exchange rates in the second quarter as the relatively stronger U.S.dollar decreased total international sales by 5.6 percent and totalsales by 3.5 percent.The 6.3 percent increase in total net sales during the first six months of 2024,excluding the impact of

192、foreign exchange,reflected sales growth in theMedical Devices,Nutritional Products,and Established Pharmaceutical Products segments,partially offset by a decrease in demand for Abbotts rapiddiagnostic tests to detect COVID-19.Abbotts COVID-19 testing-related sales totaled$306 million during the firs

193、t six months of 2024 and$993 millionduring the first six months of 2023.Excluding the impact of COVID-19 testing-related sales,Abbotts total net sales increased 7.0 percent.Excluding theimpacts of COVID-19 testing-related sales and foreign exchange,Abbotts total net sales increased 10.3 percent.Abbo

194、tts net sales were unfavorablyimpacted by changes in foreign exchange rates in the first six months as the relatively stronger U.S.dollar decreased total international sales by 5.3 percentand total sales by 3.2 percent.The table below provides detail by sales category for the six months ended June 3

195、0.Percent changes are versus the prior year and are based on unroundednumbers.(in millions)June 30,2024June 30,2023TotalChangeImpact of Foreign ExchangeTotal Change Excl.Foreign ExchangeEstablished Pharmaceutical Products Key Emerging Markets$1,916$1,902 0.7%(11.3)%12.0%Other Emerging Markets604 574

196、 5.3(1.6)6.9 Nutritionals International Pediatric Nutritionals990 982 0.7(3.0)3.7 U.S.Pediatric Nutritionals1,078 966 11.6 11.6 International Adult Nutritionals1,417 1,368 3.6(6.9)10.5 U.S.Adult Nutritionals733 727 0.8 0.8 Diagnostics Core Laboratory2,534 2,475 2.4(4.9)7.3 Molecular256 288(11.1)(0.6

197、)(10.5)Point of Care295 276 6.9 6.9 Rapid Diagnostics1,324 1,966(32.7)(1.1)(31.6)Medical Devices Rhythm Management1,169 1,110 5.4(1.3)6.7 Electrophysiology1,214 1,058 14.7(2.8)17.5 Heart Failure626 576 8.6(0.1)8.7 Vascular1,413 1,332 6.1(1.5)7.6 Structural Heart1,079 959 12.5(1.8)14.3 Neuromodulatio

198、n469 423 10.9(1.6)12.5 Diabetes Care3,217 2,737 17.6(1.8)19.4 26Table of ContentsExcluding the unfavorable effect of foreign exchange,sales in Key Emerging Markets for Established Pharmaceutical Products increased 12.0 percent inthe first six months of 2024,led by higher revenue in several countries

199、 and across several therapeutic areas,including respiratory,gastroenterology,cardiometabolic and central nervous system/pain management.Other Emerging Markets,excluding the effect of foreign exchange,increased by 6.9 percentin the first six months of 2024.Excluding the impact of foreign exchange,tot

200、al Nutritional Products sales in the first six months of 2024 increased 7.4 percent.In U.S.PediatricNutritionals,the 11.6 percent increase in sales in the first six months of 2024 reflects infant formula market share gains and the continued favorable impactof 2023 price increases,partially offset by

201、 a decrease in PediaSure and Pedialyte product sales.Excluding the effect of foreign exchange,the 3.7 percentincrease in International Pediatric Nutritional sales in the first six months of 2024 primarily reflects growth in Canada and several countries in the AsiaPacific and Europe/Middle East regio

202、ns.In the first six months of 2024,U.S.Adult Nutritionals sales increased 0.8 percent as growth of Ensure product sales was offset by a decrease inGlucerna product sales and the discontinuation of the ZonePerfect product line.Excluding the effect of foreign exchange,the 10.5 percent growth inInterna

203、tional Adult Nutritionals in the first six months of 2024 was led by growth of Ensure and Glucerna product sales.The 9.0 percent decrease in Diagnostic Products sales in the first six months of 2024,excluding the impact of foreign exchange,was primarily driven bylower demand for COVID-19 tests.In Ra

204、pid Diagnostics,sales decreased 31.6 percent in the first six months of 2024,excluding the effect of foreignexchange,due to lower demand for COVID-19 tests.In the first six months of 2024 and 2023,Rapid Diagnostics COVID-19 testing-related sales were$294 million and$954 million,respectively.In the f

205、irst six months of 2024,Rapid Diagnostics sales increased 1.7 percent,excluding COVID-19 testing-related sales,and increased 3.0 percent,excluding the impact of foreign exchange and COVID-19 testing-related sales.In Core Laboratory Diagnostics,sales increased 7.3 percent in the first six months of 2

206、024,excluding the effect of foreign exchange,due to the continueddeployment of Abbotts Alinity testing platform and higher volume of routine diagnostic testing performed in hospitals and other laboratories.In the firstsix months of 2024 and 2023,Core Laboratory Diagnostics COVID-19 testing-related s

207、ales were$5 million and$11 million,respectively.In the first sixmonths of 2024,Core Laboratory Diagnostics sales increased 2.6 percent,excluding COVID-19 testing-related sales,and increased 7.6 percent,excludingthe impact of foreign exchange and COVID-19 testing-related sales.The 10.5 percent decrea

208、se in Molecular Diagnostics sales in the first six months of 2024,excluding the effect of foreign exchange,was primarily driven bylower demand for laboratory-based molecular tests for COVID-19.In the first six months of 2024 and 2023,Molecular Diagnostics COVID-19 testing-related sales were$7 millio

209、n and$28 million,respectively.In the first six months of 2024,Molecular Diagnostics sales decreased 3.8 percent,excludingCOVID-19 testing-related sales,and decreased 3.2 percent,excluding the impact of foreign exchange and COVID-19 testing-related sales.Excluding the effect of foreign exchange,total

210、 Medical Devices sales increased 13.8 percent in the first six months of 2024,led by double-digit growth inDiabetes Care,Electrophysiology,Structural Heart and Neuromodulation.Higher Diabetes Care sales were driven by continued growth of FreeStyleLibre,Abbotts continuous glucose monitoring system,in

211、 the U.S.and internationally.FreeStyle Libre sales totaled$3.0 billion in the first six months of2024,which reflected a 21.8 percent increase,excluding the effect of foreign exchange,over the first six months of 2023 when FreeStyle Libre sales totaled$2.5 billion.In January 2024,Abbott announced tha

212、t Tandem Diabetes Care,Inc.s t:slim X2 insulin pump is the first automated insulin delivery system in the U.S.tointegrate with Abbotts FreeStyle Libre 2 Plus sensor for treating diabetes.In February 2024,Insulets Omnipod 5 Automated Insulin Delivery Systemreceived CE Mark approval to be offered as a

213、n integrated solution with Abbotts FreeStyle Libre 2 Plus sensor.In June,Abbott announced U.S.Food andDrug Administration(FDA)clearance for two new over-the-counter continuous glucose monitoring systems,Lingo and Libre Rio,which are based onAbbotts FreeStyle Libre continuous glucose monitoring techn

214、ology.During the first six months of 2024,procedure volumes continued to increase across the cardiovascular and neuromodulation businesses.In StructuralHeart,the 14.3 percent increase in sales,excluding the effect of foreign exchange,primarily reflects growth of the Navitor MitraClip TriClipandAmule

215、t products.In Vascular,the 7.6 percent increase in sales,excluding the impact of foreign exchange,during the first six months of 2024 wasprimarily due to the acquisition of Cardiovascular Systems,Inc.(CSI)in April 2023 and growth in other endovascular sales.TMTM,27Table of ContentsIn Electrophysiolo

216、gy,the 17.5 percent increase in sales,excluding the effect of foreign exchange,primarily reflects higher procedure volumes andincreased demand for catheters and cardiac mapping products.In Neuromodulation,the 12.5 percent increase in sales,excluding the effect of foreignexchange,was driven by the Et

217、erna rechargeable spinal cord stimulation system for the treatment of chronic pain.In April 2024,Abbott announced FDA approval of the Esprit below-the-knee(BTK)system,which is designed to keep arteries open in people livingwith peripheral artery disease and deliver a drug to support vessel healing p

218、rior to completely dissolving.In April,Abbott also announced FDA approval ofTriClip,which provides a minimally invasive treatment option for patients with tricuspid regurgitation,or a leaky tricuspid heart valve.In June,Abbottobtained CE Mark for its AVEIR dual chamber(DR)leadless pacemaker system,w

219、hich is the worlds first dual chamber leadless pacemaker system thattreats people with abnormal or slow heart rhythms.The gross profit margin percentage was 51.1 percent for the second quarter of 2024 compared to 50.1 percent for the second quarter of 2023 and 50.8percent for the first six months of

220、 2024 compared to 50.3 percent for the first six months of 2023.The increase in the quarter and the first six months of2024 reflects the favorable impacts of higher pricing in various businesses and gross margin improvement initiatives,partially offset by the unfavorableeffect of foreign exchange.Re

221、search and development(R&D)expenses decreased$17 million,or 2.3 percent,in the second quarter of 2024 and increased$13 million,or 0.9 percent,in the first six months of 2024 compared to the prior year.The decrease in R&D expense in the second quarter of 2024 was primarily driven by lower 2024charges

222、 for the impairment of in-process R&D(IPR&D)assets acquired in previous business combinations.The increase in R&D expense in the first sixmonths of 2024 was primarily driven by higher spending on various projects,partially offset by lower 2024 IPR&D impairment charges.Selling,general and administrat

223、ive expenses increased$196 million,or 7.1 percent,in the second quarter of 2024,and increased$393 million,or 7.1percent,in the first six months of 2024 compared to the prior year.Higher selling and marketing spending to drive growth across various businesses waspartially offset by the favorable impa

224、ct of foreign exchange.Restructuring PlansIn 2024,Abbott management approved plans to streamline operations in order to reduce costs and improve efficiencies in its diagnostic,medical devicesand nutritional businesses,including the discontinuation of its ZonePerfect product line.In the six months en

225、ded June 30,2024,Abbott recordedemployee related severance and other charges of$59 million,of which$38 million was recorded in Cost of products sold,$2 million was recorded inResearch and development,and$19 million was recorded in Selling,general and administrative expenses.Payments related to these

226、 actions totaled$8million in the first six months of 2024 and the remaining liabilities totaled$51 million at June 30,2024.In addition,Abbott recognized asset impairmentcharges of$28 million related to these restructuring plans.Other(Income)Expense,netOther income,net decreased from$176 million of i

227、ncome in the second quarter of 2023 to$10 million of expense in the second quarter of 2024 anddecreased from$287 million of income in the first six months of 2023 to$101 million of income in the first six months of 2024.The decreases reflect therecognition of a$143 million loss in the second quarter

228、 of 2024 on the sale of a non-core business related to the Established Pharmaceutical Productssegment,as well as the 2023 impact of favorable changes in the fair value of contingent consideration liabilities that did not repeat in 2024.In addition,forthe first six months of 2024,an increase in incom

229、e associated with the non-service cost components of net pension and post-retirement medical benefitcosts was offset by incremental charges related to investment impairments.Interest Expense,netInterest expense,net decreased$3 million to$58 million in the second quarter of 2024 and increased$6 milli

230、on to$119 million in the first six months of2024.In the second quarter of 2024 and in the first six months of 2024,interest expense decreased due to the repayment of approximately$2.25 billion oflong-term debt in September and November of 2023.In the first six months of 2024,the decrease in interest

231、 expense was more than offset by a reduction ininterest income due to lower average cash balances versus the prior year,thereby resulting in an increase in Interest expense,net.TM 28Table of ContentsTaxes on EarningsTaxes on earnings reflect the estimated annual effective rates and include charges f

232、or interest and penalties.In the first six months of 2024 and 2023,taxeson earnings include approximately$29 million and$9 million,respectively,in excess tax benefits associated with share-based compensation.In the first sixmonths of 2024 and 2023,taxes on earnings also include approximately$35 mill

233、ion and$62 million,respectively,of tax expense as the result of theresolution of various tax positions related to prior years.Tax authorities in various jurisdictions regularly review Abbotts income tax filings.Abbott believes that it is reasonably possible that the recorded amountof gross unrecogni

234、zed tax benefits may decrease approximately$90 million to$1.34 billion,including cash adjustments,within the next twelve months as aresult of concluding various domestic and international tax matters.In September 2023,Abbott received a Statutory Notice of Deficiency(SNOD)from the U.S.Internal Revenu

235、e Service(IRS)for the 2019 Federal tax yearin the amount of$417 million.The primary adjustments proposed in the SNOD relate to the reallocation of income between Abbotts U.S.entities and itsforeign affiliates.Abbott believes that the income reallocation adjustments proposed in the SNOD are without m

236、erit,in part because certain adjustmentscontradict methods that were agreed to with the IRS in prior audit periods.The SNOD also contains other proposed adjustments that Abbott believes areerroneous and unsupported.Abbott filed a petition with the U.S.Tax Court contesting the SNOD in December 2023.I

237、n June 2024,Abbott received a SNOD from the IRS for the 2017 and 2018 Federal tax years in the amount of$192 million.The matters proposed in the2017/2018 SNOD are substantially similar to the income allocation adjustments included in the 2019 SNOD.Abbott intends to file a petition with the U.S.Tax C

238、ourt contesting the 2017/2018 SNOD in a manner consistent with its petition for the 2019 SNOD.In June 2024,Abbott received a Revenue Agents Report(RAR)from the IRS for the 2020 Federal tax year assessing an additional$443 million of incometax.The primary adjustments proposed in the RAR are substanti

239、ally similar to the income allocation adjustments included in the 2017/2018 and 2019SNODs.Abbott believes that the income reallocation adjustments proposed in the RAR are without merit.The RAR also contains other proposedadjustments and omissions that Abbott believes are erroneous and unsupported.In

240、 addition to the tax assessment for the 2020 tax year,the 2020 RAR alsocontested a deduction for which an estimated$440 million cash tax benefit would be available in a different taxable year as allowed under applicable U.S.tax law.Abbott is contesting these RAR findings and intends to continue to d

241、o so.Abbott intends to vigorously defend its filing positions through ongoing discussions with the IRS,the IRS independent appeals process and/or throughlitigation as necessary.Abbott reserves for uncertain tax positions related to unresolved matters with the IRS and other taxing authorities.Abbott

242、continuesto believe that its reserves for uncertain tax positions are appropriate.The Organization for Economic Cooperation&Development(OECD)has proposed a two-pillared plan for a revised international tax system.Pillar 1proposes to reallocate taxing rights among the jurisdictions in which in-scope

243、multinational corporations operate.Abbott is continuing to analyze the Pillar1 proposal.Pillar 2 proposes to assess a 15 percent minimum tax on the earnings of in-scope multinational corporations on a country-by-country basis.Numerous countries have enacted legislation to adopt the Pillar 2 model ru

244、les.A subset of the rules became effective January 1,2024,and the remainingrules become effective January 1,2025 or later.Abbott continues to analyze the Pillar 2 model rules.The full implementation of the model rules may havea material impact on Abbotts condensed consolidated financial statements i

245、n the future.Liquidity and Capital ResourcesThe increase in cash and cash equivalents from$6.9 billion at December 31,2023 to$7.0 billion at June 30,2024 primarily reflects the cash generatedfrom operations and an increase in Abbotts yen-denominated loan,partially offset by the payment of dividends

246、and capital expenditures in the first sixmonths of 2024.Working capital was$9.4 billion at June 30,2024 and$8.8 billion at December 31,2023.The increase in working capital in 2024primarily reflects an increase in cash and cash equivalents,accounts receivable,and inventory,as well as decreases in acc

247、rued salaries and other accruedliabilities,partially offset by an increase in the current portion of long-term debt and income taxes payable.29Table of ContentsIn the Condensed Consolidated Statement of Cash Flows,Net cash from operating activities for the first six months of 2024 totaled approximat

248、ely$3.0billion,an increase of$0.6 billion from the prior year,due to higher operating segment earnings and the timing of cash taxes paid.In the first six months of2024,Net cash from operating activities includes$289 million of pension contributions and the payment of cash taxes of approximately$747

249、million.Netcash from operating activities in 2023 includes$290 million of pension contributions and the payment of cash taxes of approximately$837 million.At June 30,2024,Abbotts long-term debt rating was AA-by S&P Global Ratings and Aa3 by Moodys Investors Service.Abbott expects to maintain aninves

250、tment grade rating.On June 26,2024,Abbott modified its existing,yen-denominated 5-year term loan scheduled to mature in November 2024.The amended terms include anet increase in principal debt from 59.8 billion to 92.0 billion,with a new maturity date in June 2029.The modified,5-year term loan bears

251、interest at theTokyo Interbank Offered Rate(TIBOR)plus a fixed spread,and the interest rate is reset quarterly.The net proceeds equated to approximately$201 million.The 92.0 billion loan is designated as a hedge of Abbotts net investment in certain foreign subsidiaries.Abbott has readily available f

252、inancial resources,including unused lines of credit that support commercial paper borrowing arrangements and provideAbbott with the ability to borrow up to$5 billion on an unsecured basis.On January 29,2024,Abbott terminated its 2020 Five Year Credit Agreement(2020 Agreement)and entered into a new F

253、ive Year Credit Agreement(Revolving Credit Agreement).There were no outstanding borrowings under the2020 Agreement at the time of its termination.Any borrowings under the Revolving Credit Agreement will mature and be payable on January 29,2029 andwill bear interest,at Abbotts option,based on either

254、a base rate or Secured Overnight Financing Rate(SOFR),plus an applicable margin based on Abbottscredit ratings.In each of the first two quarters of 2024,Abbott declared a quarterly dividend of$0.55 per share on its common shares,which represents an increase of 7.8percent over the$0.51 per share divi

255、dend declared in each of the first two quarters of 2023.Business AcquisitionOn September 22,2023,Abbott completed the acquisition of Bigfoot Biomedical,Inc.(Bigfoot),which furthers Abbotts efforts to develop connectedsolutions for making diabetes management more personal and precise.The purchase pri

256、ce,the final allocation of acquired assets and liabilities,and therevenue and net income contributed by Bigfoot since the date of acquisition are not material to Abbotts condensed consolidated financial statements.On April 27,2023,Abbott completed the acquisition of Cardiovascular Systems,Inc.(CSI)f

257、or$20 per common share,which equated to a purchase priceof$851 million.The transaction was funded with cash on hand and accounted for as a business combination.CSIs atherectomy system,which is used intreating peripheral and coronary artery disease,adds complementary technologies to Abbotts portfolio

258、 of vascular device offerings.The final allocation of the purchase price of the CSI acquisition resulted in the recording of two non-deductible developed technology intangible assetstotaling$305 million;a non-deductible in-process research and development asset of$15 million,which will be accounted

259、for as an indefinite-livedintangible asset until regulatory approval or discontinuation;non-deductible goodwill of$369 million;net deferred tax assets of$46 million and other netassets of$116 million.The goodwill is identifiable to the Medical Devices reportable segment and is attributable to expect

260、ed synergies from combiningoperations,as well as intangible assets that do not qualify for separate recognition.Revenues and earnings of CSI included in Abbotts condensedconsolidated financial statements since the acquisition date are not material to Abbotts consolidated revenue and earnings.30Table

261、 of ContentsLegislative IssuesAbbotts primary markets are highly competitive and subject to substantial government regulations throughout the world.Abbott expects debate to continueover the availability,method of delivery,and payment for health care products and services.It is not possible to predic

262、t the extent to which Abbott or thehealth care industry in general might be adversely affected by these factors in the future.A more complete discussion of these factors is contained in Item1,Business,and Item 1A,Risk Factors,in the 2023 Annual Report on Form 10-K.Private Securities Litigation Refor

263、m Act of 1995 A Caution Concerning Forward-Looking StatementsUnder the safe harbor provisions of the Private Securities Litigation Reform Act of 1995,Abbott cautions that any forward-looking statements made byAbbott are subject to risks and uncertainties that may cause actual results to differ mater

264、ially from those indicated in the forward-looking statements.Economic,competitive,governmental,technological and other factors that may affect Abbotts operations are discussed in Item 1A,Risk Factors in ourAnnual Report on Form 10-K for the year ended December 31,2023,and are incorporated herein by

265、reference.Abbott undertakes no obligation to releasepublicly any revisions to forward-looking statements as a result of subsequent events or developments,except as required by law.31Table of ContentsPART I.FINANCIAL INFORMATIONItem 4.Controls and Procedures(a)Evaluation of disclosure controls and pr

266、ocedures.The Chief Executive Officer,Robert B.Ford,and Chief Financial Officer,Philip P.Boudreau,evaluated the effectiveness of Abbott Laboratories disclosure controls and procedures as of the end of the period covered by this report,andconcluded that Abbott Laboratories disclosure controls and proc

267、edures were effective to ensure that information Abbott is required to disclosein the reports that it files or submits with the Securities and Exchange Commission(the“Commission”)under the Securities Exchange Act of1934(the“Exchange Act”)is recorded,processed,summarized and reported,within the time

268、periods specified in the Commissions rules andforms,and to ensure that information required to be disclosed by Abbott in the reports that it files or submits under the Exchange Act isaccumulated and communicated to Abbotts management,including its principal executive officer and principal financial

269、officer,as appropriateto allow timely decisions regarding required disclosure.(b)Changes in internal control over financial reporting.During the quarter ended June 30,2024,there were no changes in Abbotts internal controlover financial reporting(as defined in Rule 13a-15(f)under the Exchange Act)tha

270、t have materially affected,or are reasonably likely tomaterially affect,Abbotts internal control over financial reporting.PART II.OTHER INFORMATIONItem 1.Legal ProceedingsAbbott is involved in various claims,legal proceedings and investigations as described in our Annual Report on Form 10-K for the

271、year endedDecember 31,2023 and our Quarterly Report on Form 10-Q for the quarterly period ended March 31,2024,including those described below(as of June30,2024,except where noted below).While it is not feasible to predict the outcome of such pending claims,proceedings,and investigations with certain

272、ty,management is of the opinion that their ultimate resolution should not have a material adverse effect on Abbotts financial position,cash flows,or results ofoperations,except for the lawsuits discussed below,the resolution of which could be material to cash flows or results of operations.In its 20

273、23 Annual Report on Form 10-K,Abbott reported that it is a defendant in numerous lawsuits alleging that preterm infants developed necrotizingenterocolitis as a result of being administered Abbotts preterm infant formula products.In a trial held in July 2024,a jury in a Missouri state court awardeda

274、plaintiff$495 million in damages.Abbott stands by its products and the information it provided about them,and it plans to appeal this jurys verdict.Item 2.Unregistered Sales of Equity Securities and Use of Proceeds(c)Issuer Purchases of Equity SecuritiesPeriod(a)Total Number of Shares(or Units)Purch

275、ased(b)Average Price Paid per Share(or Unit)(c)Total Number of Shares(or Units)Purchased as Part of Publicly Announced Plans or Programs(d)Maximum Number(or Approximate Dollar Value)of Shares(or Units)that May Yet Be Purchased Under the Plans or ProgramsApril 1,2024-April 30,2024$1,409,092,884 May 1

276、,2024-May 31,2024 1,409,092,884 June 1,2024-June 30,2024 1,409,092,884 Total$1,409,092,884 _1.These shares do not include the shares surrendered to Abbott to satisfy tax withholding obligations in connection with the vesting of restricted stock orrestricted stock units.2.On December 10,2021,the boar

277、d of directors authorized the repurchase of up to$5 billion of Abbott common shares,from time to time.(1)(2)(1)(2)(1)(2)(1)(2)32Table of ContentsItem 5.Other InformationOn May 10,2024,Robert E.Funck,Jr.,the then-Executive Vice President,Finance,adopted a plan for the sale of securities of Abbott tha

278、t is intended tosatisfy the affirmative defense conditions of Rule 10b5-1(c).Mr.Funcks Rule 10b5-1 plan provides for the exercise of up to 45,000 stock options untilFebruary 19,2025.On May 10,2024,Hubert L.Allen,Executive Vice President,General Counsel and Secretary,adopted a plan for the sale of se

279、curities of Abbott that isintended to satisfy the affirmative defense conditions of Rule 10b5-1(c).Mr.Allens Rule 10b5-1 plan provides for the exercise of up to 157,421 stockoptions until February 19,2025.Item 6.ExhibitsExhibit No.Exhibit31.1Certification of Chief Executive Officer Required by Rule

280、13a-14(a)(17 CFR 240.13a-14(a).31.2Certification of Chief Financial Officer Required by Rule 13a-14(a)(17 CFR 240.13a-14(a).Exhibits 32.1 and 32.2 are furnished herewith and should not be deemed to be“filed”under the Securities Exchange Act of 1934.32.1Certification of Chief Executive Officer Pursua

281、nt to 18 U.S.C.Section 1350,as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.32.2Certification of Chief Financial Officer Pursuant to 18 U.S.C.Section 1350,as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.101The following financial statements and notes from th

282、e Abbott Laboratories Quarterly Report on Form 10-Q for the quarter and sixmonths ended June 30,2024,formatted in Inline XBRL:(i)Condensed Consolidated Statement of Earnings;(ii)CondensedConsolidated Statement of Comprehensive Income;(iii)Condensed Consolidated Balance Sheet;(iv)Condensed Consolidat

283、edStatement of Shareholders Investment;(v)Condensed Consolidated Statement of Cash Flows;and(vi)Notes to the CondensedConsolidated Financial Statements.104Cover Page Interactive Data File(the cover page XBRL tags are embedded in the Inline XBRL document and included in Exhibit101).33Table of Content

284、sSIGNATUREPursuant to the requirements of the Securities Exchange Act of 1934,the registrant has duly caused this report to be signed on its behalf by theundersigned thereunto duly authorized.ABBOTT LABORATORIESBy:/s/PHILIP P.BOUDREAUPhilip P.BoudreauExecutive Vice President,Finance and Chief Financ

285、ial OfficerDate:July 31,202434Exhibit 31.1Certification of Chief Executive OfficerRequired by Rule 13a-14(a)(17 CFR 240.13a-14(a)I,Robert B.Ford,certify that:1.I have reviewed this quarterly report on Form 10-Q of Abbott Laboratories;2.Based on my knowledge,this report does not contain any untrue st

286、atement of a material fact or omit to state a material fact necessary to make thestatements made,in light of the circumstances under which such statements were made,not misleading with respect to the period covered by thisreport;3.Based on my knowledge,the financial statements,and other financial in

287、formation included in this report,fairly present in all material respects thefinancial condition,results of operations and cash flows of Abbott as of,and for,the periods presented in this report;4.Abbotts other certifying officer and I are responsible for establishing and maintaining disclosure cont

288、rols and procedures(as defined in ExchangeAct Rules 13a-15(e)and 15d-15(e)and internal control over financial reporting(as defined in Exchange Act Rules 13a-15(f)and 15d-15(f)forAbbott and have:a)Designed such disclosure controls and procedures,or caused such disclosure controls and procedures to be

289、 designed under our supervision,toensure that material information relating to Abbott,including its consolidated subsidiaries,is made known to us by others within thoseentities,particularly during the period in which this report is being prepared;b)Designed such internal control over financial repor

290、ting,or caused such internal control over financial reporting to be designed under oursupervision,to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements forexternal purposes in accordance with generally accepted accounting princip

291、les;c)Evaluated the effectiveness of Abbotts disclosure controls and procedures and presented in this report our conclusions about the effectivenessof the disclosure controls and procedures,as of the end of the period covered by this report based on such evaluation;andd)Disclosed in this report any

292、change in Abbotts internal control over financial reporting that occurred during Abbotts most recent fiscalquarter that has materially affected,or is reasonably likely to materially affect,Abbotts internal control over financial reporting;and5.Abbotts other certifying officer and I have disclosed,ba

293、sed on our most recent evaluation of internal control over financial reporting,to Abbottsauditors and the audit committee of Abbotts board of directors:a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which arereasonably l

294、ikely to adversely affect Abbotts ability to record,process,summarize and report financial information;andb)Any fraud,whether or not material,that involves management or other employees who have a significant role in Abbotts internal controlover financial reporting.Date:July 31,2024/s/ROBERT B.FORDR

295、obert B.FordChairman of the Board and Chief Executive OfficerExhibit 31.2Certification of Chief Financial OfficerRequired by Rule 13a-14(a)(17 CFR 240.13a-14(a)I,Philip P.Boudreau,certify that:1.I have reviewed this quarterly report on Form 10-Q of Abbott Laboratories;2.Based on my knowledge,this re

296、port does not contain any untrue statement of a material fact or omit to state a material fact necessary to make thestatements made,in light of the circumstances under which such statements were made,not misleading with respect to the period covered by thisreport;3.Based on my knowledge,the financia

297、l statements,and other financial information included in this report,fairly present in all material respects thefinancial condition,results of operations and cash flows of Abbott as of,and for,the periods presented in this report;4.Abbotts other certifying officer and I are responsible for establish

298、ing and maintaining disclosure controls and procedures(as defined in ExchangeAct Rules 13a-15(e)and 15d-15(e)and internal control over financial reporting(as defined in Exchange Act Rules 13a-15(f)and 15d-15(f)forAbbott and have:a)Designed such disclosure controls and procedures,or caused such discl

299、osure controls and procedures to be designed under our supervision,toensure that material information relating to Abbott,including its consolidated subsidiaries,is made known to us by others within thoseentities,particularly during the period in which this report is being prepared;b)Designed such in

300、ternal control over financial reporting,or caused such internal control over financial reporting to be designed under oursupervision,to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements forexternal purposes in accordance with ge

301、nerally accepted accounting principles;c)Evaluated the effectiveness of Abbotts disclosure controls and procedures and presented in this report our conclusions about the effectivenessof the disclosure controls and procedures,as of the end of the period covered by this report based on such evaluation

302、;andd)Disclosed in this report any change in Abbotts internal control over financial reporting that occurred during Abbotts most recent fiscalquarter that has materially affected,or is reasonably likely to materially affect,Abbotts internal control over financial reporting;and5.Abbotts other certify

303、ing officer and I have disclosed,based on our most recent evaluation of internal control over financial reporting,to Abbottsauditors and the audit committee of Abbotts board of directors:a)All significant deficiencies and material weaknesses in the design or operation of internal control over financ

304、ial reporting which arereasonably likely to adversely affect Abbotts ability to record,process,summarize and report financial information;andb)Any fraud,whether or not material,that involves management or other employees who have a significant role in Abbotts internal controlover financial reporting

305、.Date:July 31,2024PHILIP P.BOUDREAUPhilip P.BoudreauExecutive Vice President,Financeand Chief Financial OfficerExhibit 32.1Certification Pursuant To18 U.S.C.Section 1350As Adopted Pursuant ToSection 906 of the Sarbanes-Oxley Act of 2002In connection with the Quarterly Report of Abbott Laboratories(t

306、he“Company”)on Form 10-Q for the period ended June 30,2024 as filed withthe Securities and Exchange Commission(the“Report”),I,Robert B.Ford,Chairman of the Board and Chief Executive Officer of the Company,certify,pursuant to 18 U.S.C.1350,as adopted pursuant to 906 of the Sarbanes-Oxley Act of 2002,

307、that:(1)The Report fully complies with the requirements of section 13(a)or 15(d)of the Securities Exchange Act of 1934;and(2)The information contained in the Report fairly presents,in all material respects,the financial condition and results of operations of the Company./s/ROBERT B.FORDRobert B.Ford

308、Chairman of the Board and Chief Executive OfficerJuly 31,2024A signed original of this written statement required by Section 906 has been provided to Abbott Laboratories and will be retained by Abbott Laboratoriesand furnished to the Securities and Exchange Commission or its staff upon request.Exhib

309、it 32.2Certification Pursuant To18 U.S.C.Section 1350As Adopted Pursuant ToSection 906 of the Sarbanes-Oxley Act of 2002In connection with the Quarterly Report of Abbott Laboratories(the“Company”)on Form 10-Q for the period ended June 30,2024 as filed withthe Securities and Exchange Commission(the“R

310、eport”),I,Philip B.Boudreau,Executive Vice President,Finance and Chief Financial Officer of theCompany,certify,pursuant to 18 U.S.C.1350,as adopted pursuant to 906 of the Sarbanes-Oxley Act of 2002,that:(1)The Report fully complies with the requirements of section 13(a)or 15(d)of the Securities Exch

311、ange Act of 1934;and(2)The information contained in the Report fairly presents,in all material respects,the financial condition and results of operations of the Company./s/PHILIP P.BOUDREAUPhilip P.BoudreauExecutive Vice President,Financeand Chief Financial OfficerJuly 31,2024A signed original of this written statement required by Section 906 has been provided to Abbott Laboratories and will be retained by Abbott Laboratoriesand furnished to the Securities and Exchange Commission or its staff upon request.