AbbVie Inc., a biopharmaceutical company, has filed its Form 11-K annual report with the Securities and Exchange Commission (SEC) for the fiscal year ended December 31, 2023. The report details the financial statements of the AbbVie Savings Plan, which is an employee stock purchase, savings, and similar plan. The independent audit, conducted by Ernst & Young LLP, concluded that the financial statements present fairly the net assets available for benefits and the changes in net assets for the year in accordance with U.S. generally accepted accounting principles. The AbbVie Savings Plan's net assets available for benefits increased from $10,305,327 in 2022 to $11,727,168 in 2023. The report includes a summary of the Plan's provisions, contributions, investment options, and distributions, as well as the Plan...Show More

AbbVie Inc., a biopharmaceutical company, has filed its Form 11-K annual report with the Securities and Exchange Commission (SEC) for the fiscal year ended December 31, 2023. The report details the financial statements of the AbbVie Savings Plan, which is an employee stock purchase, savings, and similar plan. The independent audit, conducted by Ernst & Young LLP, concluded that the financial statements present fairly the net assets available for benefits and the changes in net assets for the year in accordance with U.S. generally accepted accounting principles. The AbbVie Savings Plan's net assets available for benefits increased from $10,305,327 in 2022 to $11,727,168 in 2023. The report includes a summary of the Plan's provisions, contributions, investment options, and distributions, as well as the Plan's tax status and subsequent events. The Plan is fully compliant with the Employee Retirement Income Security Act of 1974 (ERISA) and offers a variety of investment options, including AbbVie common shares. The Plan's investments are subject to market risks, and the Plan may be terminated at any time by AbbVie, although there are no current intentions to do so. The Plan's tax-exempt status has been affirmed by the IRS, and there are no uncertain tax positions that would require recognition of a tax liability.