ABT · 10-Q · 2026Q2 · Full report
Debt and Liquidity Position
ABBOTT LABORATORIES · 2026-07-28 · Importance 94 · Surprise 100 · From source text
Abbott issued $20.0 billion of long-term debt in March 2026 to finance the Exact Sciences acquisition. Long-term debt increased to $29.603 billion at June 30, 2026 from $9.896 billion at December 31, 2025, while total debt fair value was $31.753 billion compared with $12.772 billion at year-end. Cash and cash equivalents declined $3.418 billion to $5.104 billion from $8.522 billion, despite $3.803 billion of operating cash flow and $19.827 billion of long-term debt proceeds. Abbott repaid $2.821 billion of long-term debt during the first six months, including nearly all of the $2.8 billion debt assumed from Exact Sciences.
Key facts
- The Exact Sciences acquisition was funded primarily through the issuance of $20.0 billion of long-term debt in March 2026, with the remainder funded by cash on hand.
- Proceeds from issuance of long-term debt during the six months ended June 30, 2026: $19,827 million.
- Abbott had interest rate hedge contracts with a notional amount totaling $4.2 billion at June 30, 2026 and $1.2 billion at December 31, 2025; the increase was due to additional interest rate hedge contracts associated with fixed-rate debt issued as part of the Exact Sciences acquisition.
- Long-term debt at June 30, 2026: $29,603 million.
- Total assets were $109,215 million as of June 30, 2026 versus $86,713 million as of December 31, 2025.
- As part of the acquisition, Abbott assumed approximately $2.8 billion of Exact Sciences’ debt, nearly all of which was repaid as of June 30, 2026.
- Total reportable segment assets were $30,212 million as of June 30, 2026 versus $27,293 million as of December 31, 2025.
- Abbott’s long-term investments balance at June 30, 2026 was $1,111 million; the increase primarily reflects non-marketable securities acquired in the Exact Sciences acquisition and other investment activity.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| liability | negative | realized | -18.1% | Proceeds from issuance of long-term debt during the six months ended June 30, 2026: $19,827 million. |
| cash | positive | realized | +18.1% | Proceeds from issuance of long-term debt during the six months ended June 30, 2026: $19,827 million. |
| assets | positive | realized | +2.7% | Total reportable segment assets were $30,212 million as of June 30, 2026 versus $27,293 million as of December 31, 2025. |
| liability | negative | realized | -2.6% | As part of the acquisition, Abbott assumed approximately $2.8 billion of Exact Sciences’ debt, nearly all of which was repaid as of June… |
| assets | positive | realized | — | Abbott’s long-term investments balance at June 30, 2026 was $1,111 million; the increase primarily reflects non-marketable securities… |