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v3.21.2

Revenue | 6 Months Ended
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Jun. 30, 2021
Revenue |
Revenue | Note 3 — Revenue ​ Abbott’s revenues are derived primarily from the sale of a broad line of health care products under short-term receivable arrangements. Abbott has four reportable segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. ​ Note 3 — Revenue (Continued) ​ The following tables provide detail by sales category: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended June 30, 2021 | ​ | Three Months Ended June 30, 2020
(in millions) |  | U.S. |  | Int’l |  | Total |  | U.S. |  | Int’l |  | Total
Established Pharmaceutical Products — | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Key Emerging Markets | ​ | $ | — | ​ | $ | 915 | ​ | $ | 915 | ​ | $ | — | ​ | $ | 764 | ​ | $ | 764
Other | ​ |  | — | ​ |  | 265 | ​ |  | 265 | ​ |  | — | ​ |  | 249 | ​ | ​ | 249
Total | ​ |  | — | ​ |  | 1,180 | ​ |  | 1,180 | ​ |  | — | ​ |  | 1,013 |  | ​ | 1,013
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Nutritionals — | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Pediatric Nutritionals | ​ |  | 528 | ​ |  | 565 | ​ |  | 1,093 | ​ |  | 484 | ​ |  | 540 | ​ |  | 1,024
Adult Nutritionals | ​ |  | 345 | ​ |  | 670 | ​ |  | 1,015 | ​ |  | 324 | ​ |  | 535 | ​ |  | 859
Total | ​ |  | 873 | ​ |  | 1,235 | ​ |  | 2,108 | ​ |  | 808 | ​ |  | 1,075 | ​ |  | 1,883
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Diagnostics — | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Core Laboratory | ​ |  | 283 | ​ |  | 1,023 | ​ |  | 1,306 | ​ |  | 289 | ​ |  | 698 | ​ |  | 987
Molecular | ​ |  | 94 | ​ |  | 196 | ​ |  | 290 | ​ |  | 144 | ​ |  | 215 | ​ |  | 359
Point of Care | ​ |  | 97 | ​ |  | 40 | ​ |  | 137 | ​ |  | 79 | ​ |  | 39 | ​ |  | 118
Rapid Diagnostics | ​ |  | 681 | ​ |  | 833 | ​ |  | 1,514 | ​ |  | 345 | ​ |  | 185 | ​ |  | 530
Total | ​ |  | 1,155 | ​ |  | 2,092 | ​ |  | 3,247 | ​ |  | 857 | ​ |  | 1,137 | ​ |  | 1,994
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Medical Devices — | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Rhythm Management | ​ |  | 269 | ​ |  | 298 | ​ |  | 567 | ​ |  | 185 | ​ |  | 216 | ​ |  | 401
Electrophysiology | ​ |  | 209 | ​ |  | 278 | ​ |  | 487 | ​ |  | 120 | ​ |  | 179 | ​ |  | 299
Heart Failure | ​ |  | 168 | ​ |  | 59 | ​ |  | 227 | ​ |  | 115 | ​ |  | 43 | ​ |  | 158
Vascular | ​ |  | 246 | ​ |  | 451 | ​ |  | 697 | ​ |  | 168 | ​ |  | 313 | ​ |  | 481
Structural Heart | ​ |  | 191 | ​ |  | 231 | ​ |  | 422 | ​ |  | 91 | ​ |  | 132 | ​ |  | 223
Neuromodulation | ​ |  | 166 | ​ |  | 44 | ​ |  | 210 | ​ |  | 85 | ​ |  | 21 | ​ |  | 106
Diabetes Care | ​ | ​ | 289 | ​ | ​ | 767 | ​ | ​ | 1,056 | ​ | ​ | 202 | ​ | ​ | 553 | ​ | ​ | 755
Total | ​ |  | 1,538 | ​ |  | 2,128 | ​ |  | 3,666 | ​ |  | 966 | ​ |  | 1,457 | ​ |  | 2,423
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other | ​ |  | 15 | ​ |  | 7 | ​ |  | 22 | ​ |  | 7 | ​ |  | 8 | ​ |  | 15
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | $ | 3,581 | ​ | $ | 6,642 | ​ | $ | 10,223 | ​ | $ | 2,638 | ​ | $ | 4,690 | ​ | $ | 7,328
​ Note 3 — Revenue (Continued) ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six Months Ended June 30, 2021 | ​ | Six Months Ended June 30, 2020
(in millions) |  | U.S. |  | Int’l |  | Total |  | U.S. |  | Int’l |  | Total
Established Pharmaceutical Products — |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | ​ | ​ |
Key Emerging Markets | ​ | $ | — | ​ | $ | 1,736 | ​ | $ | 1,736 | ​ | $ | — | ​ | $ | 1,577 | ​ | $ | 1,577
Other | ​ |  | — | ​ |  | 514 | ​ |  | 514 | ​ |  | — | ​ |  | 480 | ​ | ​ | 480
Total | ​ |  | — | ​ |  | 2,250 | ​ |  | 2,250 | ​ |  | — | ​ |  | 2,057 |  | ​ | 2,057
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Nutritionals — | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Pediatric Nutritionals | ​ |  | 1,036 | ​ |  | 1,123 | ​ |  | 2,159 | ​ |  | 1,002 | ​ |  | 1,111 | ​ |  | 2,113
Adult Nutritionals | ​ |  | 673 | ​ |  | 1,312 | ​ |  | 1,985 | ​ |  | 618 | ​ |  | 1,056 | ​ |  | 1,674
Total | ​ |  | 1,709 | ​ |  | 2,435 | ​ |  | 4,144 | ​ |  | 1,620 | ​ |  | 2,167 | ​ |  | 3,787
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Diagnostics — | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Core Laboratory | ​ |  | 554 | ​ |  | 1,934 | ​ |  | 2,488 | ​ |  | 556 | ​ |  | 1,420 | ​ |  | 1,976
Molecular | ​ |  | 269 | ​ |  | 468 | ​ |  | 737 | ​ |  | 209 | ​ |  | 289 | ​ |  | 498
Point of Care | ​ |  | 189 | ​ |  | 77 | ​ |  | 266 | ​ |  | 182 | ​ |  | 74 | ​ |  | 256
Rapid Diagnostics | ​ |  | 1,784 | ​ |  | 1,986 | ​ |  | 3,770 | ​ |  | 713 | ​ |  | 377 | ​ |  | 1,090
Total | ​ |  | 2,796 | ​ |  | 4,465 | ​ |  | 7,261 | ​ |  | 1,660 | ​ |  | 2,160 | ​ |  | 3,820
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Medical Devices — | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Rhythm Management | ​ |  | 510 | ​ |  | 576 | ​ |  | 1,086 | ​ |  | 413 | ​ |  | 462 | ​ |  | 875
Electrophysiology | ​ |  | 388 | ​ |  | 530 | ​ |  | 918 | ​ |  | 284 | ​ |  | 403 | ​ |  | 687
Heart Failure | ​ |  | 313 | ​ |  | 108 | ​ |  | 421 | ​ |  | 267 | ​ |  | 94 | ​ |  | 361
Vascular | ​ |  | 465 | ​ |  | 867 | ​ |  | 1,332 | ​ |  | 398 | ​ |  | 708 | ​ |  | 1,106
Structural Heart | ​ |  | 360 | ​ |  | 439 | ​ |  | 799 | ​ |  | 227 | ​ |  | 314 | ​ |  | 541
Neuromodulation | ​ |  | 311 | ​ |  | 83 | ​ |  | 394 | ​ |  | 222 | ​ |  | 61 | ​ |  | 283
Diabetes Care | ​ | ​ | 542 | ​ | ​ | 1,494 | ​ | ​ | 2,036 | ​ | ​ | 388 | ​ | ​ | 1,119 | ​ | ​ | 1,507
Total | ​ |  | 2,889 | ​ |  | 4,097 | ​ |  | 6,986 | ​ |  | 2,199 | ​ |  | 3,161 | ​ |  | 5,360
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other | ​ |  | 25 | ​ |  | 13 | ​ |  | 38 | ​ |  | 15 | ​ |  | 15 | ​ |  | 30
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | $ | 7,419 | ​ | $ | 13,260 | ​ | $ | 20,679 | ​ | $ | 5,494 | ​ | $ | 9,560 | ​ | $ | 15,054
​ Remaining Performance Obligations ​ As of June 30, 2021, the estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) was approximately $3.9 billion in the Diagnostics segment and approximately $414 million in the Medical Devices segment. Abbott expects to recognize revenue on approximately 60 percent of these remaining performance obligations over the next 24 months, approximately 16 percent over the subsequent 12 months and the remainder thereafter. ​ These performance obligations primarily reflect the future sale of reagents/consumables in contracts with minimum purchase obligations, extended warranty or service obligations related to previously sold equipment, and remote monitoring services related to previously implanted devices. Abbott has applied the practical expedient described in Accounting Standards Codification (ASC) 606-10-50-14 and has not included remaining performance obligations related to contracts with original expected durations of one year or less in the amounts above. ​ Note 3 — Revenue (Continued) ​ Other Contract Assets and Liabilities ​ Abbott discloses Trade receivables separately in the Condensed Consolidated Balance Sheet at the net amount expected to be collected. Contract assets primarily relate to Abbott’s conditional right to consideration for work completed but not billed at the reporting date. Contract assets at the beginning and end of the period, as well as the changes in the balance, were not significant. ​ Contract liabilities primarily relate to payments received from customers in advance of performance under the contract. Abbott’s contract liabilities arise primarily in the Medical Devices reportable segment when payment is received upfront for various multi-period extended service arrangements. ​ Changes in the contract liabilities during the period are as follows: ​
​ | ​ | ​ | ​
(in millions) |  | ​ | ​
Contract Liabilities: | ​ | ​ | ​
Balance at December 31, 2020 | ​ | $ | 405
Unearned revenue from cash received during the period | ​ | ​ | 280
Revenue recognized related to contract liability balance | ​ | ​ | (279)
Balance at June 30, 2021 | ​ | $ | 406
​

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