Long-Term Debt Maturities

Entity Registrant Name ABBOTT LABORATORIES
CIK 0000001800
Accession number 0001047469-14-001176
Link to XBRL instance http://www.sec.gov/Archives/edgar/data/1800/000104746914001176/abt-20131231.xml
Fiscal year end --12-31
Fiscal year focus 2013
Fiscal period focus FY
Current balance sheet date 2013-12-31
Current year-to-date income statement start date 2013-01-01
Commentary Filer does not seem to provide a Level 3 Text Block for long-term debt maturities per observing the financial report. The information is provided within the debt footnote. However, that information does not tie to the total long-term debt amount. Principal payments required on long-term debt outstanding at December 31, 2013 are $9 million in 2014, $10 million in 2015, $3 million in 2016, $1 million in 2017, $1 million in 2018 and $3.3 billion in 2019 and thereafter.
Level 1 (Note level) Text Block concept us-gaap:DebtDisclosureTextBlock

Note 9 — Debt and Lines of Credit

        The following is a summary of long-term debt at December 31: (in millions)

 
   2013   2012  

1.2% Notes, due 2015 (1)

   $ —   $ 3,500  

Variable Rate Notes, due 2015 (1)

     —     500  

1.75% Notes, due 2017 (1)

     —     4,000  

2.0% Notes, due 2018 (1)

     —     1,000  

5.125% Notes, due 2019

     947     947  

4.125% Notes, due 2020

     597     597  

2.9% Notes, due 2022 (1)

     —     3,100  

6.15% Notes, due 2037

     547     547  

6.0% Notes, due 2039

     515     515  

5.3% Notes, due 2040

     694     694  

4.4% Notes, due 2042 (1)

     —     2,600  

Other, including fair value adjustments relating to interest rate hedge contracts designated as fair value hedges

     88     85  
           
​ ​ ​ ​ ​ ​ ​ ​

Total, net of current maturities

     3,388     18,085  

Current maturities of long-term debt

     9     309  
           
​ ​ ​ ​ ​ ​ ​ ​

Total carrying amount

   $ 3,397   $ 18,394  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           
(1)
These notes were issued by AbbVie Inc. in November 2012. With the separation of AbbVie on January 1, 2013, Abbott no longer has any obligations related to this debt.

        In 2012, Abbott redeemed $7.7 billion of its outstanding notes. Abbott incurred a cost of $1.35 billion to extinguish this debt, net of gains from the unwinding of interest rate swaps related to the debt. In 2012, AbbVie Inc., a wholly owned subsidiary of Abbott, issued $14.7 billion of long-term debt with maturities ranging from 3 to 30 years. The debt issued by AbbVie Inc. was guaranteed by Abbott with the guarantee expiring when AbbVie Inc. separated from Abbott on January 1, 2013.

        Principal payments required on long-term debt outstanding at December 31, 2013 are $9 million in 2014, $10 million in 2015, $3 million in 2016, $1 million in 2017, $1 million in 2018 and $3.3 billion in 2019 and thereafter.

        At December 31, 2013, Abbott's long-term debt rating was A+ by Standard & Poor's Corporation and A1 by Moody's Investors Service. Abbott has readily available financial resources, including unused lines of credit of $5.0 billion that support commercial paper borrowing arrangements which expire in 2017. Abbott's weighted-average interest rate on short-term borrowings was 0.2% at December 31, 2013 and 0.4% at December 31, 2012 and 2011.
Level 4 (Note level) Text Block concept - Maturities of Long Term Debt NOT FOUND
NOT FOUND
Level 4 (Note level) Text Block concept - Debt Instruments us-gaap:ScheduleOfDebtInstrumentsTextBlock

(in millions)

 
   2013   2012  

1.2% Notes, due 2015 (1)

   $ —   $ 3,500  

Variable Rate Notes, due 2015 (1)

     —     500  

1.75% Notes, due 2017 (1)

     —     4,000  

2.0% Notes, due 2018 (1)

     —     1,000  

5.125% Notes, due 2019

     947     947  

4.125% Notes, due 2020

     597     597  

2.9% Notes, due 2022 (1)

     —     3,100  

6.15% Notes, due 2037

     547     547  

6.0% Notes, due 2039

     515     515  

5.3% Notes, due 2040

     694     694  

4.4% Notes, due 2042 (1)

     —     2,600  

Other, including fair value adjustments relating to interest rate hedge contracts designated as fair value hedges

     88     85  
           
​ ​ ​ ​ ​ ​ ​ ​

Total, net of current maturities

     3,388     18,085  

Current maturities of long-term debt

     9     309  
           
​ ​ ​ ​ ​ ​ ​ ​

Total carrying amount

   $ 3,397   $ 18,394  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           
(1)
These notes were issued by AbbVie Inc. in November 2012. With the separation of AbbVie on January 1, 2013, Abbott no longer has any obligations related to this debt.

Level 4 Details Key Concepts: Long-term Debt Maturities

Description Fact value US GAAP XBRL Concept
Year 1 (Current portion) 9,000,000 us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
Year 2 10,000,000 us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
Year 3 3,000,000 us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
Year 4 1,000,000 us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
Year 5 1,000,000 us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
Thereafter 3,300,000,000 us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
Total Long-term Debt 3,397,000,000 us-gaap:LongTermDebt
CHECK 73,000,000

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(Classified balance sheet) Deferred tax assets (liabilities), net components current/noncurrent asset/liability

Description Fact value US GAAP XBRL Concept
Current portion 9,000,000 us-gaap:LongTermDebtCurrent
Noncurrent portion 3,388,000,000 us-gaap:LongTermDebtNoncurrent
Total Long-Term Debt 3,397,000,000 us-gaap:LongTermDebt
CHECK 0

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