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Supplemental Financial Information | 6 Months Ended
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Jun. 30, 2021
Supplemental Financial Information |
Supplemental Financial Information | Note 4 — Supplemental Financial Information ​ Shares of unvested restricted stock that contain non-forfeitable rights to dividends are treated as participating securities and are included in the computation of earnings per share under the two-class method. Under the two-class method, net earnings are allocated between common shares and participating securities. Earnings from Continuing Operations allocated to common shares for the three months ended June 30, 2021 and 2020 were $1.184 billion and $534 million, respectively, and for the six months ended June 30, 2021 and 2020 were $2.969 billion and $1.075 billion, respectively. Net earnings allocated to common shares for the three months ended June 30, 2021 and 2020 were $1.184 billion and $534 million, respectively, and for the six months ended June 30, 2021 and 2020 were $2.969 billion and $1.095 billion, respectively. ​ Earnings from discontinued operations, net of tax, in the first six months of 2020 include the recognition of $20 million of tax benefits as a result of the resolution of various tax positions related to the previous sale of a business that was reported as a discontinued operation. ​ Other, net in Net cash from operating activities in the Condensed Consolidated Statement of Cash Flows for the first six months of 2021 includes $80 million of pension contributions and the payment of cash taxes of approximately $715 million. The first six months of 2020 includes $335 million of pension contributions and the payment of cash taxes of approximately $285 million. ​ The following summarizes the activity for the first six months of 2021 related to the allowance for doubtful accounts as of June 30, 2021: ​
​ | ​ | ​ | ​
(in millions) |  | ​ | ​
Allowance for Doubtful Accounts: | ​ | ​ | ​
Balance at December 31, 2020 | ​ | $ | 288
Provisions/charges to income | ​ | ​ | 31
Amounts charged off and other deductions | ​ |  | (9)
Balance at June 30, 2021 | ​ | $ | 310
​ Note 4 — Supplemental Financial Information (Continued) ​ The allowance for doubtful accounts reflects the current estimate of credit losses expected to be incurred over the life of the accounts receivable. Abbott considers various factors in establishing, monitoring, and adjusting its allowance for doubtful accounts, including the aging of the accounts and aging trends, the historical level of charge-offs, and specific exposures related to 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, 2021 and December 31, 2020 are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, | ​ | December 31,
(in millions) |  | 2021 |  | 2020
Long-term Investments: | ​ | ​ | ​ | ​ | ​ | ​
Equity securities | ​ | $ | 754 | ​ | $ | 776
Other | ​ |  | 51 | ​ |  | 45
Total | ​ | $ | 805 | ​ | $ | 821
​ The decrease in Abbott’s long-term investments as of June 30, 2021 versus the balance as of December 31, 2020 primarily relates to the sale of an equity method investment. ​ Abbott’s equity securities as of June 30, 2021, include $388 million of investments in mutual funds that are held in a rabbi trust and were acquired as part of the St. Jude Medical, Inc. (St. Jude Medical) business acquisition. These investments, which are specifically designated as available for the purpose of paying benefits under a deferred compensation plan, are not available for general corporate purposes and are subject to creditor claims in the event of insolvency. ​ Abbott also holds certain investments as of June 30, 2021 with a carrying value of $260 million that are accounted for under the equity method of accounting and other equity investments with a carrying value of approximately $91 million that do not have a readily determinable fair value. An approximately $60 million impairment of an investment was recorded in the second quarter of 2020 for which Abbott had previously recorded an unrealized gain of approximately $50 million in 2018.

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