UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549

 

 

 

FORM 11-K

 

FOR ANNUAL REPORTS OF EMPLOYEE STOCK PURCHASE, SAVINGS
AND SIMILAR PLANS PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

 

(Mark One)

 

xANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the fiscal year ended December 31, 2022

 

OR

 

¨TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from ____________________ to _____________________

 

Commission File Number 1-2189

 

A.Full title of the plan and the address of the plan, if different from that of the issuer named below:

 

ABBOTT LABORATORIES STOCK RETIREMENT PROGRAM

 

B.Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

 

ABBOTT LABORATORIES

100 Abbott Park Road

Abbott Park, Illinois 60064-6049

 

 

 

 

 

FINANCIAL STATEMENTS AND

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

ABBOTT LABORATORIES STOCK RETIREMENT PLAN

DECEMBER 31, 2022 AND 2021

 

 

 

 

C O N T E N T S

 

Page

 

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 3
   
FINANCIAL STATEMENTS  
   
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS 5
   
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS 6
   
NOTES TO FINANCIAL STATEMENTS 7
   
SUPPLEMENTAL SCHEDULE  
   
SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR) 18

 

 

 

 

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

 

Plan Administrator and Plan Participants
Abbott Laboratories Stock Retirement Plan

 

Opinion on the financial statements

 

We have audited the accompanying statements of net assets available for benefits of Abbott Laboratories Stock Retirement Plan (the “Plan”) as of December 31, 2022 and 2021, the related statement of changes in net assets available for benefits for the year ended December 31, 2022, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2022 and 2021, and the changes in net assets available for benefits for the year ended December 31, 2022 in conformity with accounting principles generally accepted in the United States of America.

 

Basis for opinion

 

These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

 

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion.

 

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

 

3

 

 

Supplemental information

 

The schedule of assets (held at end of year) as of December 31, 2022 (“supplemental information”) has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental information is the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole.

 

/s/ GRANT THORNTON LLP

 

We have served as the Plan’s auditor since 2002.

 

Chicago, Illinois
June 23, 2023

 

4

 

 

Abbott Laboratories Stock Retirement Plan      
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS    
December 31, 2022 and 2021      
(Dollars in thousands)      
       

 

   2022   2021 
Assets          
Investments, at fair value  $13,132,520   $15,408,940 
Notes receivable from participants   89,059    86,885 
Accrued interest and dividend income   2,784    829 
Due from brokers   108,923    189,159 
           
Total assets   13,333,286    15,685,813 
           
Liabilities          
Cash overdraft   304    - 
Investments sold short, at fair value   105,823    96,364 
Accrued investment expenses   200    201 
Due to brokers   189,038    202,357 
           
Total liabilities   295,365    298,922 
           
NET ASSETS AVAILABLE FOR BENEFITS  $13,037,921   $15,386,891 

 

The accompanying notes are an integral part of these statements.

 

5

 

 

Abbott Laboratories Stock Retirement Plan  
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
Year ended December 31, 2022  
(Dollars in thousands)  
   

 

Additions     
Contributions     
Employer  $189,912 
Participant   368,307 
Rollovers   39,151 
      
Total contributions   597,370 
      
Investment (loss) income     
Net depreciation in fair value of investments   (2,193,210)
Interest and dividends   136,530 
      
Net investment loss   (2,056,680)
      
Interest income on notes receivable from participants   3,265 
      
Net additions   (1,456,045)
      
Deductions     
Benefits paid to participants   892,655 
Other expenses   270 
      
Total deductions   892,925 
      
NET DECREASE   (2,348,970)
      
Net assets available for benefits     
Beginning of year   15,386,891 
      
End of year  $13,037,921 

 

The accompanying notes are an integral part of this statement.

 

6

 

 

Abbott Laboratories Stock Retirement Plan

NOTES TO FINANCIAL STATEMENTS

December 31, 2022 and 2021

 

 

NOTE A - DESCRIPTION OF THE PLAN

 

The following description of the Abbott Laboratories Stock Retirement Plan (the “Plan”) provides only general information. Participants should refer to the Plan document for a more complete description of the Plan’s provisions.

 

General

 

The Plan is intended to constitute a profit-sharing plan under Section 401(a) of the Internal Revenue Code of 1986, as amended (the “IRC”), with a cash or deferred arrangement under IRC Section 401(k), and a portion of the Plan is intended to constitute an employee stock ownership plan that meets the applicable requirements of IRC Sections 409 and 4975(e)(7). The Plan is subject to the Employee Retirement Income Security Act of 1974, as amended (“ERISA”).

 

In general, United States employees of Abbott Laboratories (“Abbott”) and selected participating subsidiaries and affiliates may, after meeting certain employment requirements, voluntarily participate in the Plan. Beginning March 2017, newly hired employees in certain specified Abbott divisions and business units became eligible to participate in the Plan under a different structure (“Abbott Green” employees).

 

Alight Solutions serves as the recordkeeper of the Plan. The Northern Trust Company (“Custodian” or “Trustee”) serves as the Plan’s custodian and trustee.

 

Contributions and Vesting

 

Contributions to the Plan are paid to the Abbott Laboratories Stock Retirement Trust (“Trust”). The Trust is administered by the Trustee and an investment committee (the “Committee”).

 

Employees are eligible to commence participation in the Plan on any entry date following their date of hire. Eligible employees electing to participate contribute from 2% up to 25% of their eligible earnings, subject to certain limitations. Participants may choose to make their contributions from pretax earnings, after-tax earnings, or both. The Plan also permits Roth 401(k) contributions and has a Roth 401(k) conversion feature. Participants who have attained age 50 before the end of the Plan year and who are making the maximum pretax contributions are eligible to make catch-up contributions. Participants may elect to invest their contributions in any or all of the investment options available under the Plan, except for investment options closed to new contributions.

 

Employer matching contributions to the Plan are made each payroll period based on the participating employee’s eligible earnings, unless the employee has elected to participate as a Freedom 2 Save Participant as described below. The employer matching contribution for the year ended December 31, 2022 was 5% of the participant’s eligible earnings if the participant elected to contribute at least 2% of eligible earnings to the Plan.

 

7

 

 

Abbott Laboratories Stock Retirement Plan

NOTES TO FINANCIAL STATEMENTS - CONTINUED

December 31, 2022 and 2021

 

 

NOTE A - DESCRIPTION OF THE PLAN - Continued

 

Contributions and Vesting - Continued

 

Participants may enroll in the Freedom 2 Save program in the Plan. A Freedom 2 Save participant who makes qualified student loan repayments of at least 2% of eligible earnings may receive a Freedom 2 Save employer contribution of 5% of eligible earnings shortly after the end of the year. An enrolled Freedom 2 Save participant who makes elective deferrals to the Plan will not receive employer matching contributions each payroll period but instead may receive a true-up employer matching contribution shortly after the end of the year for any payroll period for which the participant makes elective deferrals and does not receive a Freedom 2 Save employer contribution. Freedom 2 Save employer contributions and true-up employer matching contributions are only made on behalf of Freedom 2 Save participants who meet program guidelines, and who either are employed or on a qualifying leave of absence at the end of the applicable Plan year or terminate employment due to death or qualifying disability during such Plan year.

 

Employer contributions are invested according to the participant’s investment elections.

 

Cash dividends on Abbott common shares are (1) paid in cash to the participants or beneficiaries, (2) paid to the Plan and distributed in cash to participants or beneficiaries no later than 90 days after the close of the Plan year for which paid, or (3) paid to the Plan and credited to the accounts in which shares are held, as elected by each participant or beneficiary in accordance with rules established by the administrator.

 

On January 1, 2013, Abbott separated into two publicly traded companies – Abbott and AbbVie Inc. ("AbbVie"). The separation of Abbott and AbbVie was a tax-free distribution where Abbott shareholders received one share of AbbVie stock for every share of Abbott held as of the close of business on December 12, 2012, the record date for the distribution. Participants who received AbbVie stock through this distribution may continue to hold the stock in their Plan accounts but may not make new contributions or transfer existing contributions or earnings to purchase AbbVie stock in the Plan; however, participants may elect to reinvest their AbbVie dividends in AbbVie stock. If no election is made, AbbVie dividends are invested in the Plan’s default investment option.

 

Participants may direct the Trustee to sell all or a portion of the Abbott and AbbVie common shares held in their accounts and reinvest the proceeds in any of the other available investment options.

 

8

 

 

Abbott Laboratories Stock Retirement Plan

NOTES TO FINANCIAL STATEMENTS - CONTINUED

December 31, 2022 and 2021

 

 

NOTE A - DESCRIPTION OF THE PLAN - Continued

 

Contributions and Vesting – Continued

 

Participants are at all times fully vested in their own contributions and earnings thereon. Vesting in employer contributions and earnings thereon is based on the following vesting schedule:

 

   Vesting 
Service  percentage 
Less than two years   0% 
Two years or more   100% 

 

A participant becomes 100% vested in his or her employer contributions if, while employed by the Company, he or she dies or attains age 65. Abbott Green participants who first became participants prior to January 1, 2018 are also fully vested in employer contributions upon qualifying disability.

 

Non-vested portions of employer contributions and earnings thereon are forfeited as of an employee’s termination date. Forfeitures are used to (1) restore any forfeitures of participants who returned to service with Abbott within a given period of time, (2) pay Plan expenses and (3) reduce future employer contributions if terminated participants do not return to service within the given period of time. In 2022, forfeitures reduced Abbott’s employer contributions by approximately $5 million. Approximately $938,000 and $2.1 million in forfeitures were available at the end of 2022 and 2021, respectively.

 

Distributions and In-Service Withdrawals

 

Following retirement, termination or death (or for some participants from merged-in plans, upon disability), participants or their beneficiaries may elect to receive a distribution in installments, in a single lump sum or in a partial lump sum. Participants may elect a direct rollover of their accounts. Also, upon termination, participants may elect to defer distribution to a future date but, after termination of employment, distribution must be made by the 1st of April following the year the participant reaches age 72 or, if earlier, the 31st of December following the year in which the participant dies. Interest, dividends and other earnings will continue to accrue on such deferred amounts.

 

Prior to termination, participants are permitted to withdraw their after-tax contributions (after-tax contributions made on or after January 8, 2016 may be withdrawn from the Plan only after being held for two or more years) and rollover contributions (including Roth rollover accounts and merged-in plan rollover accounts) and, after age 59 ½, may also withdraw pretax contributions. Distributions are made in cash or, to the extent contained in the participant’s account, a participant may elect distribution of Abbott and AbbVie common shares, and in each case, subject to certain limitations.

 

9

 

 

Abbott Laboratories Stock Retirement Plan

NOTES TO FINANCIAL STATEMENTS - CONTINUED

December 31, 2022 and 2021

 

 

NOTE A - DESCRIPTION OF THE PLAN - Continued

 

Receivable from Participants

 

Participants may convert their vested account balances into one or two loans to themselves. The borrowing may not exceed the lesser of the current market value of the assets allocated to their vested accounts or 50% of all of their Plan accounts up to $50,000, subject to IRC limitations and restrictions. Participants pay interest on such borrowings at the prime rate in effect at the time the participant loan is made. Loans must be repaid within five years (or by the employee’s anticipated retirement date, if sooner) unless the loan is used for the purchase of the primary residence of the employee, in which case the repayment period can be extended to a period of fifteen years (or until the employee’s anticipated retirement date, if sooner). Repayment is made through periodic payroll deductions or by sending in payments, but a loan may be repaid in a lump sum at any time. Post-termination loan repayments are permitted. For employees whose account is distributed during the repayment period, the balance of the outstanding loan is netted from their Plan distribution.

 

NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Basis of Accounting

 

The financial statements have been prepared using the accrual basis of accounting.

 

Use of Estimates

 

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and changes therein, and disclosure of contingent assets and liabilities. Actual results may differ from those estimates.

 

Investment Valuation

 

The Plan offers a variety of investment options to participants. Certain investment options are structured as separately managed accounts; therefore, the Plan owns the individual investment holdings within the separately managed accounts and reflects them within the investments of the Plan.

 

The Plan uses the following methods and significant assumptions to estimate the fair value of investments:

 

Common stock, mutual funds, REITs and futures contracts - Valued at the published market price per share or unit multiplied by the number of respective shares or units held.

 

10

 

 

Abbott Laboratories Stock Retirement Plan

NOTES TO FINANCIAL STATEMENTS - CONTINUED

December 31, 2022 and 2021

 

 

NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued

 

Investment Valuation - Continued

 

Collective trust funds and Private 40-Act mutual fund - Valued at the net asset value (“NAV”) provided by the administrator of the fund. The NAV is used as a practical expedient to estimate fair value. The NAV is based on the value of the underlying assets owned by the fund, minus its liabilities, and then divided by the number of shares outstanding. Participants are permitted to make redemptions from the funds on a daily basis. Certain funds require five days’ notice for a Plan level redemption. The Private 40-Act mutual fund agrees to redeem shares solely in cash up to the lesser of $250,000 or 1% of the fund’s net assets during any 90-day period for any one shareholder. In consideration of the best interests of the remaining shareholders, the Private 40-Act mutual fund reserves the right to pay any redemption proceeds exceeding this amount in whole or in part by a distribution in kind of securities held by the fund in lieu of cash. It is highly unlikely that shares would ever be redeemed in kind.

 

Corporate debt, government debt and other - Valued at the published market price or prices obtained from independent financial services industry-recognized vendors multiplied by the number of respective units held. Prices obtained from vendors are on the basis of bid or mid evaluations in accordance to a region’s market convention, using factors which include but are not limited to market quotations, yields, maturities, and the bond’s terms and conditions. Proprietary methods are used to arrive at the evaluated price, which represent the price a dealer would pay for a security.

 

Certificate of deposit - Valued at amortized cost, which approximates fair value given the instruments’ short duration of less than 130 days.

 

Futures contracts

 

One of the investment options structured as a separately managed account uses futures contracts as part of its investment strategy. A futures contract represents a commitment for the future purchase or sale of an asset or index at a specified price on a specified date. Futures contracts are exchange-traded and settle daily. Upon entering into the contracts, the investment manager of the separately managed account is required to deposit, either in cash or securities, an amount equal to a certain percentage of the notional value of the contract. Subsequent payments are then made or received by the Plan, depending on the daily fluctuation in the value of the underlying contracts.

 

As of December 31, 2022 and 2021, the Plan held futures contracts with a notional amount of approximately $1.6 million. Notional amounts do not quantify risk or represent assets or liabilities of the Plan, but are used in the calculation of the cash settlements under the contracts. The fair value of these derivative contracts was not material at December 31, 2022 and 2021. Changes in fair value are accounted for as investment (loss) income within net depreciation in fair value of investments and totaled approximately $(375,000) for the year ended December 31, 2022.

 

11

 

 

Abbott Laboratories Stock Retirement Plan

NOTES TO FINANCIAL STATEMENTS - CONTINUED

December 31, 2022 and 2021

 

 

NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued

 

Investment Valuation - Continued

 

Short sales

 

One of the investment options structured as a separately managed account utilizes short sales as part of its investment strategy. Short sales are transactions in which the separately managed account sells an investment it does not own in anticipation of a decline in value of that investment. To complete the transaction, the separately managed account must borrow the investment to make delivery to the buyer. The separately managed account is obligated to replace the investment borrowed by purchasing the investment at market price at the time of replacement. The price at such time may be more or less than the price at which the investment was sold by the separately managed account. When an investment is sold short, a decrease in the value of the investment will be recognized as a gain and an increase in the value of the investment will be recognized as a loss.

 

The following tables summarize the basis used to measure investment assets and liabilities at fair value at December 31, 2022 and 2021 (dollars in thousands):

 

   Basis of Fair Value Measurement     
2022  Quoted
Prices in
Active
Markets
   Significant
Other
Observable
Inputs
   Significant
Unobservable
Inputs
   Measured at
NAV
   Total 
Assets - Investments:                         
Common stock  $5,310,018   $-   $-   $-   $5,310,018 
Mutual funds   107,725    -    -    -    107,725 
REITs   24,887    -    -    -    24,887 
Collective trust funds   -    -    -    6,706,991    6,706,991 
Corporate debt   -    239,076    -    -    239,076 
Government debt   -    260,737    -    -    260,737 
Private 40-Act mutual fund   -    -    -    477,645    477,645 
Certificate of deposit   -    2,501    -    -    2,501 
Other   -    2,940        -    -    2,940 
Total investments at fair value  $5,442,630   $505,254   $-   $7,184,636   $13,132,520 

 

   Basis of Fair Value Measurement     
2022  Quoted
Prices in
Active
Markets
   Significant
Other
Observable
Inputs
   Significant
Unobservable
Inputs
   Measured at
NAV
   Total 
Liabilities - Investments sold short:                         
Government debt  $    -   $105,823   $    -   $    -   $105,823 
Total investments sold short at fair value  $-   $105,823   $-   $-   $105,823 

 

12

 

 

Abbott Laboratories Stock Retirement Plan

NOTES TO FINANCIAL STATEMENTS - CONTINUED

December 31, 2022 and 2021

 

 

NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued

 

Investment Valuation - Continued

 

    Basis of Fair Value Measurement        
2021   Quoted
Prices in
Active
Markets
    Significant
Other
Observable
Inputs
    Significant
Unobservable
Inputs
    Measured at
NAV
    Total  
Assets - Investments:                                        
Common stock   $ 5,944,626     $ -     $ -     $ -     $ 5,944,626  
Mutual funds     125,728       -       -       -       125,728  
REITs     29,984       -       -       -       29,984  
Collective trust funds     -       -       -       8,416,720       8,416,720  
Corporate debt     -       217,791       -       -       217,791  
Government debt     -       195,521       -       -       195,521  
Private 40-Act mutual fund     -       -       -       373,018       373,018  
Other     -       105,552           -       -       105,552  
Total investments at fair value   $ 6,100,338     $ 518,864     $ -     $ 8,789,738     $ 15,408,940  

 

   Basis of Fair Value Measurement     
2021  Quoted
Prices in
Active
Markets
   Significant
Other
Observable
Inputs
   Significant
Unobservable
Inputs
   Measured at
NAV
   Total 
Liabilities - Investments sold short:                         
Government debt  $    -   $96,364   $    -   $    -   $96,364 
Total investments sold short at fair value  $-   $96,364   $-   $-   $96,364 

 

The Private 40-Act mutual fund is not a direct filing entity. The fund invests in fixed income instruments of varying maturities. The investment objective of the fund is to seek maximum current income while being consistent with preservation of capital and liquidity.

 

Notes Receivable from Participants

 

Notes receivable from participants are measured at their unpaid balance plus any accrued but unpaid interest. Delinquent loans are reclassified as distributions based upon the terms of the Plan. No allowance for credit losses has been recorded as of December 31, 2022 or 2021.

 

13

 

 

 

Abbott Laboratories Stock Retirement Plan 

NOTES TO FINANCIAL STATEMENTS - CONTINUED 

December 31, 2022 and 2021

 

 

NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued

 

Income Recognition

 

Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on an accrual basis. Dividends are recorded on the ex-dividend date. Net realized and unrealized appreciation/depreciation is recorded in the accompanying statement of changes in net assets available for benefits as net depreciation in fair value of investments.

 

Administrative Expenses

 

Participants are charged transaction fees for loan processing and commissions on purchases and sales of Abbott shares and sales of AbbVie stock. Investment fees for mutual funds, REITs, collective trusts, and managed accounts are charged against the net assets of the respective fund. Abbott pays other recordkeeping and administration fees, where applicable.

 

Payment of Benefits

 

Benefits are recorded when paid.

 

NOTE C - INVESTMENTS

 

Distributions of Abbott common shares and conversions of participants’ common share account balances to participant loans or other investment options are recorded at fair market value.

 

A summary of Abbott common share data as of December 31, 2022 and 2021 is presented below:

 

   2022   2021 
Abbott common shares, 26,635,240 and 26,840,006 shares, respectively (dollars in thousands)  $2,924,283   $3,777,462 
Market value per share  $109.79   $140.74 

 

14

 

 

Abbott Laboratories Stock Retirement Plan 

NOTES TO FINANCIAL STATEMENTS - CONTINUED 

December 31, 2022 and 2021

 

 

NOTE D - RELATED-PARTY AND PARTY-IN-INTEREST TRANSACTIONS

 

The Plan holds units of collective trust funds managed by the Trustee and shares of the Trustee’s common stock. A significant portion of the Plan’s assets is invested in Abbott common shares. These transactions qualify as party-in-interest transactions; however, they are exempt from the prohibited transaction rules under ERISA. During 2022, the Plan received $50.4 million in common stock dividends from Abbott.

 

Participants pay fees to the recordkeeper for loan transaction processing and for commissions on purchases and sales of Abbott shares and sales of AbbVie stock. These transactions qualify as permitted party-in-interest transactions.

 

NOTE E - PLAN TERMINATION

 

The Plan may be terminated at any time by Abbott upon written notice to the Trustee and Committee. All participants’ account balances would become fully vested upon Plan termination. Upon termination of the Plan, distributions of each participant’s share in the Trust, as determined by the terms of the Plan, would be made to each participant. At the present time, Abbott has no intention of terminating the Plan.

 

NOTE F - TAX STATUS

 

The Internal Revenue Service (“IRS”) has determined and informed Abbott by a letter dated April 13, 2022, that the Plan and related Trust are designed in accordance with applicable sections of the IRC. The Plan has been amended since the applicable date of the determination letter. However, the Plan administrator believes that the Plan is designed and is currently being operated, in all material respects, in accordance with the applicable requirements of the IRC.

 

Accounting principles generally accepted in the United States of America require Plan management to evaluate tax positions taken by the Plan and recognize a tax liability if the organization has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS or other applicable taxing authorities. The Plan administrator has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2022 and 2021, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions. There are currently no audits in progress.

 

15

 

 

Abbott Laboratories Stock Retirement Plan 

NOTES TO FINANCIAL STATEMENTS - CONTINUED 

December 31, 2022 and 2021

 

 

NOTE G - RISKS AND UNCERTAINTIES

 

In general, the investments provided by the Plan are exposed to various risks, such as interest rate, credit and overall market volatility risks. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participant accounts and the amounts reported in the statements of net assets available for benefits.

 

NOTE H - SUBSEQUENT EVENTS

 

Management of the Plan has evaluated subsequent events from December 31, 2022 through the date these financial statements were issued. Management of the Plan is not aware of any subsequent events that require recognition or additional disclosure in these financial statements.

 

16

 

 

SUPPLEMENTAL SCHEDULE

 

 

 

 

Abbott Laboratories Stock Retirement Plan        
SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)        
December 31, 2022        
(Dollars in thousands)        
         
         
Identity of party involved/      Current 
Description of asset/ Rate/ Maturity  Cost (a)   value 
Common stock - employer securities          
*ABBOTT LABORATORIES, common shares       $2,924,283 
           
Common stock          
10X GENOMICS INC CL A        14 
5TH 3RD BANCORP COM        883 
ABBVIE INC.        2,170,722 
ACADIA HEALTHCARE CO INC COM        289 
ACUITY BRANDS INC COM        210 
ADT INC DEL COM        75 
ADVANCE AUTO PTS INC COM        322 
AECOM        415 
AES CORP COM        621 
AFFILIATED MANAGERS GROUP INC COM STK        234 
AFFIRM HLDGS INC CL A        83 
AFLAC INC COM        1,753 
AGCO CORP COM        295 
AGILENT TECHNOLOGIES INC COM        178 
AGILON HEALTH INC COM        8 
AIR LEASE CORP CL A        158 
AKAMAI TECHNOLOGIES INC COM STK        516 
ALASKA AIR GROUP INC COM        210 
ALBEMARLE CORP COM        486 
ALBERTSONS COS INC CL A        138 
ALIGN TECHNOLOGY INC COM        163 
ALLEGION PLC COMMON STOCK        76 
ALLIANT ENERGY CORP COM        547 
ALLISON TRANSMISSION HOLDING        32 
ALLSTATE CORP COM        1,416 
ALLY FINL INC COM        289 
ALTICE USA INC CL A        38 
AMC ENTMT HLDGS INC CL A COM        83 
AMCOR PLC ORD        706 
AMDOCS ORD        434 
AMEDISYS INC COM        106 
AMER FINL GROUP INC OH COM STK        365 
AMEREN CORP COM        904 
AMERICAN AIRLINES INC COM        325 
AMERICAN WTR WKS CO INC NEW COM        1,095 
AMERIPRISE FINL INC COM        474 
AMETEK INC NEW COM        1,272 
AMPHENOL CORP NEW CL A        434 
ANSYS INC COM        392 
ANTERO MIDSTREAM CORPORATION        144 
ANTERO RES CORP COM        121 
APA CORP COM        591 
APARTMENT INCOME REIT CORP COM        187 
APOLLO GLOBAL MANAGEMENT INC COM        290 
APTARGROUP INC COM        285 
APTIV PLC COM USD        745 
ARAMARK COM        379 
ARCH CAPITAL GROUP COM STK        593 
ARDAGH METAL PACKAGING SA        19 
ARMSTRONG WORLD INDS INC NEW COM STK        52 
ARROW ELECTR INC COM        241 

 

18

 

 

Abbott Laboratories Stock Retirement Plan        
SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR) - Continued        
December 31, 2022        
(Dollars in thousands)        
         
         
Identity of party involved/      Current 
Description of asset/ Rate/ Maturity  Cost (a)   value 
Common stock - continued          
ASHLAND INC COM        215 
ASSURANT INC COM        247 
ASSURED GUARANTY LTD COMMON STK        142 
ATMOS ENERGY CORP COM        611 
AUTONATION INC COM        143 
AUTOZONE INC COM        170 
AVANGRID INC COM        121 
AVANTOR INC COM        36 
AVERY DENNISON CORP COM        224 
AVIS BUDGET GROUP INC COM STK        166 
AVNET INC COM        150 
AXALTA COATING SYSTEMS LTD COM        168 
AXIS CAPITAL HOLDINGS LTD COM        167 
AXON ENTERPRISE INC COM        100 
AZEK CO INC CL A        89 
AZENTA INC COM        170 
BAKER HUGHES CO        1,099 
BALL CORP COM        375 
BANK NEW YORK MELLON CORP COM STK        1,321 
BANK OZK COM        177 
BATH & BODY WORKS INC COM        381 
BERKLEY W R CORP COM        590 
BERRY GLOBAL GROUP INC        155 
BEST BUY INC COM STK        438 
BILL HOLDINGS INC COM        425 
BIO RAD LABORATORIES INC CL A        355 
BIOGEN INC COMMON STOCK        1,568 
BIOMARIN PHARMACEUTICAL INC        754 
BJS WHSL CLUB HLDGS INC COM        129 
BK HAW CORP COM        122 
BLACK KNIGHT INC COM USD0.0001 WI        342 
BLOCK H & R INC COM        39 
BOK FINL CORP COM NEW        120 
BORG WARNER INC COM        371 
BOSTON BEER INC CL A        6 
BOYD GAMING CORP COM        165 
BRIGHT HORIZONS FA COM        103 
BRIGHTHOUSE FINL INC COM        139 
BROADRIDGE FINL SOLUTIONS INC COM STK        57 
BROOKFIELD RENEWABLE CORP CLASS A SUBORDINATE VOTING SHARES WI        139 
BROWN & BROWN INC COM        492 
BROWN FORMAN CORP CL A        49 
BROWN-FORMAN INC CL B NON-VTG COM        196 
BRUNSWICK CORP COM        170 
BUILDERS FIRSTSOURCE INC COM STK        373 
BUNGE LTD        545 
BURLINGTON STORES INC COM        33 
BWX TECHNOLOGIES INC COM        128 
C H ROBINSON WORLDWIDE INC COM NEW        307 
CABLE ONE INC COM        63 
CACI INTL INC CL A        275 
CAESARS ENTMT INC NEW COM        106 
CAMPBELL SOUP CO COM        435 
CAPRI HOLDINGS LTD        284 

 

19

 

 

 

Abbott Laboratories Stock Retirement Plan
SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR) - Continued
December 31, 2022
(Dollars in thousands)

 

 

Identity of party involved/      Current 
Description of asset/ Rate/ Maturity  Cost (a)   value 
Common stock - continued          
CARDINAL HLTH INC        796 
CARLISLE COMPANIES INC COM        75 
CARLYLE GROUP INC COM        245 
CARMAX INC COM        336 
CARNIVAL CORP COM PAIRED        311 
CARRIER GLOBAL CORPORATION COM        1,362 
CARTER INC        110 
CASEYS GEN STORES INC COM        328 
CATALENT INC COM        217 
CBOE GLOBAL MARKETS INC        525 
CBRE GROUP INC CL A        491 
CCC INTELLIGENT SOLUTIONS HLDGS INC COM        36 
CELANESE CORP DEL COM STK        437 
CENTERPOINT ENERGY INC COM        747 
CERIDIAN HCM HLDG INC COM        281 
CERTARA INC COM        26 
CHARLES RIV LABORATORIES INTL INC COM        29 
CHEMED CORP NEW COM        189 
CHEMOURS CO COM        72 
CHENIERE ENERGY INC COM NEW        626 
CHESAPEAKE ENERGY CORP COM        452 
CHURCH & DWIGHT INC COM        423 
CIENA CORP COM NEW        297 
CIN FNCL CORP COM        620 
CINTAS CORP COM        103 
CIRRUS LOGIC INC COM        161 
CITIZENS FINL GROUP INC COM        760 
CLARIVATE PLC        156 
CLEAN HBRS INC COM        229 
CLEVELAND CLIFFS        325 
CLOROX CO COMMON STOCK        117 
CMS ENERGY CORP COM        724 
CNA FNCL CORP COM        46 
COGNEX CORP COM        22 
COHERENT CORP COM        139 
COINBASE GLOBAL INC COM CL A        223 
COLUMBIA BANKING        153 
COLUMBIA SPORTSWEAR CO COM        125 
COM ALCOA CORPORATION COM        318 
COMERICA INC COM        345 
COMM BANCSHARES INC COM        306 
CONAGRA BRANDS INC COM USD5        720 
CONCENTRIX CORP        224 
CONS EDISON INC COM        1,336 
CONSTELLATION ENERGY CORPORATION COM NPV WI        1,112 
COOPER COS INC COM NEW COM NEW        634 
COPA HOLDINGS SA COM STK        94 
CORE & MAIN INC COM CL A COM CL A        36 
COREBRIDGE FINL INC COM        64 
CORNING INC COM        897 
CORTEVA INC COM        1,661 
COSTAR GROUP INC COM        1,055 
COTERRA ENERGY INC COM        638 
COTY INC COM CL A COM CL A        119 

 

20

 

 

Abbott Laboratories Stock Retirement Plan
SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR) - Continued
December 31, 2022
(Dollars in thousands)

 

 

Identity of party involved/      Current 
Description of asset/ Rate/ Maturity  Cost (a)   value 
Common stock - continued          
COUPA SOFTWARE        104 
CRANE HLDGS CO COM        187 
CREDIT ACCEP CORP MICH COM        114 
CROWN HLDGS INC COM        44 
CULLEN / FROST BANKERS INC COM        308 
CUMMINS INC        1,349 
CURTISS WRIGHT CORP COM        253 
D R HORTON INC COM        529 
DARDEN RESTAURANTS INC COM        181 
DARLING INGREDIENTS INC COMSTK        368 
DECKERS OUTDOOR CORP COM        48 
DEFINITIVE HEALTHCARE CORP CL A COM        7 
DELL TECHNOLOGIES INC COM        340 
DENTSPLY SIRONA INC COM        270 
DEVON ENERGY CORP NEW COM        808 
DIAMONDBACK ENERGY INC COM        407 
DICKS SPORTING GOODS INC OC-COM        253 
DISCOVER FINL SVCS COM STK        1,055 
DISH NETWORK CORP CL A COM STK        139 
DOLBY LABORATORIES INC CL A COM STK        170 
DOLLAR TREE INC COM STK        819 
DOMINOS PIZZA INC COM        130 
DONALDSON INC COM        239 
DOORDASH INC CL A COM        55 
DOUBLEVERIFY HLDGS INC COM        8 
DOVER CORP COM        749 
DOXIMITY INC COM        79 
DRIVEN BRANDS HLDGS INC COM        63 
DROPBOX INC CL A CL A        16 
DT MIDSTREAM INC COM        212 
DTE ENERGY CO COM        896 
DUN & BRADSTREET HLDGS INC COM        122 
DUPONT DE NEMOURS INC COMMON STOCK        1,360 
DXC TECHNOLOGY CO COM        241 
EAGLE MATLS INC COM        33 
EAST WEST BANCORP INC COM        368 
EASTMAN CHEM CO COM        385 
EBAY INC COM        774 
EDISON INTL COM        945 
ELANCO ANIMAL HEALTH INC COM        215 
ELECTR ARTS COM        1,254 
ELEMENT SOLUTION INC COM        162 
ENCOMPASS HEALTH CORP COM        232 
ENHABIT INC COM        25 
ENOVIS CORPORATION        107 
ENTERGY CORP NEW COM        902 
ENVISTA HLDGS CORP COM        217 
EQT CORP COM        493 
EQUIFAX INC COM        467 
EQUITABLE HLDGS INC COM        418 
ERIE INDTY CO CL A        64 
ESAB CORPORATION COM        94 
ESSENTIAL UTILS INC COM        436 
EURONET WORLDWIDE INC COM        43 

 

21

 

 

Abbott Laboratories Stock Retirement Plan
SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR) - Continued
December 31, 2022
(Dollars in thousands)

 

 

Identity of party involved/      Current 
Description of asset/ Rate/ Maturity  Cost (a)   value 
Common stock - continued        
EVERCORE INC        158 
EVEREST RE GROUP COM        352 
EVERGY INC COM NPV        553 
EVERSOURCE ENERGY COM        1,141 
EXACT SCIENCES CORP COM        280 
EXELIXIS INC COM STK        27 
EXPEDITORS INTL WASH INC COM        450 
F N B CORP PA COM        180 
F&G ANNUITIES & LIFE INC COM        14 
F5 INC COM STK NPV        338 
FIDELITY NATL FINL INC        386 
FIRST AMERN FINL CORP COM STK        209 
FIRST CTZNS BANCSHARES INC N C CL A        248 
FIRST HAWAIIAN INC COM        132 
FIRST HORIZON CORPORATION COM        512 
FIRST REP BK SAN FRANCISCO CALIF NEW COM        876 
FIRST SOLAR INC COM        628 
FIRSTENERGY CORP COM        900 
FLOWERS FOODS INC COM        213 
FLOWSERVE CORP COM        158 
FMC CORP COM (NEW)        409 
FORTIVE CORP COM MON STOCK        899 
FORTUNE BRANDS INNOVATIONS INC        193 
FOX CORP CL A CL A        357 
FOX CORP CL B CL B        160 
FRESHPET INC COM        42 
FRKLN RES INC COM        298 
FRONTIER COMMUNICATIONS PARENT INC  COM NPV        247 
FTI CONSULTING INC COM        123 
GALLAGHER ARTHUR J & CO COM        1,373 
GAMESTOP CORP NEW CL A        196 
GAP INC COM        87 
GARMIN LTD COMMON STOCK        562 
GATES INDL CORP PL COM        49 
GEN DIGITAL INC COM        304 
GENPACT LIMITED COM STK        156 
GENTEX CORP COM        253 
GENUINE PARTS CO COM        875 
GINKGO BIOWORKS HOLDINGS INC COM        47 
GLOBAL PMTS INC COM        1,053 
GLOBALFOUNDRIES INC        102 
GLOBE LIFE INC COM        426 
GLOBUS MED INC CL A        209 
GODADDY INC CL A CL A        399 
GRACO INC COM        140 
GRAND CANYON ED INC COM STK        128 
GRAPHIC PACKAGING HLDG CO COM STK        62 
GROCERY OUTLET HLDG CORP COM        94 
GUIDEWIRE SOFTWARE INC COM        202 
GXO LOGISTICS INC COM        159 
HALLIBURTON CO COM        764 
HANESBRANDS INC COM STK        87 
HANOVER INS GROUP INC COM        189 
HARLEY DAVIDSON COM        221 

 

22

 

 

Abbott Laboratories Stock Retirement Plan
SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR) - Continued
December 31, 2022
(Dollars in thousands)

 

 

Identity of party involved/      Current 
Description of asset/ Rate/ Maturity  Cost (a)   value 
Common stock - continued        
HARTFORD FINL SVCS GROUP INC COM        952 
HASBRO INC COM        317 
HAWAIIAN ELEC INDS INC COM        180 
HAYWARD HLDGS INC COM        25 
HEICO CORP NEW CL A        24 
HEICO CORP NEW COM        17 
HENRY SCHEIN INC COMMON STOCK        427 
HERSHEY COMPANY COM STK        178 
HERTZ GLOBAL HLDGS INC        115 
HESS CORP COM STK        342 
HEWLETT PACKARD ENTERPRISE CO COM        811 
HEXCEL CORP NEW COM        195 
HF SINCLAIR CORPORATION COM        276 
HILTON WORLDWIDE HLDGS INC COM NEW        368 
HOLOGIC INC COM        727 
HORIZON THERAPEUTICS PLC        69 
HORMEL FOODS CORP COM        516 
HOWARD HUGHES CORP COM STOCK        111 
HOWMET AEROSPACE INC COM        521 
HP INC COM        578 
HUBBELL INC COM        497 
HUNT J B TRANS SVCS INC COM        62 
HUNTINGTON BANCSHARES INC COM        800 
HUNTINGTON INGALLS INDS INC COM        280 
HUNTSMAN CORP COM STK        198 
HYATT HOTELS CORP COM CL A        169 
IAC INC COM NEW        135 
ICU MED INC COM        102 
IDACORP INC COM        215 
IDEX CORP COM        563 
INCYTE CORP COM        78 
INFORMATICA INC CL A CL A        20 
INGERSOLL RAND INC COM        839 
INGREDION INC COM        254 
INTEGRA LIFESCIENCES HLDG CORP COM DESP        161 
INTERACTIVE BROKERS GROUP INC CL COM        266 
INTERPUBLIC GROUP COMPANIES INC COM        511 
INTL FLAVORS & FRAGRANCES INC COM        1,056 
INTL PAPER CO COM        486 
INVESCO LTD COM STK        266 
IONIS PHARMACEUTICALS INC COM        17 
IPG PHOTONICS CORP COM        122 
ITT INC COM        268 
JABIL INC COM        65 
JACOBS SOLUTIONS INC COM        606 
JAMF HLDG CORP COM        8 
JANUS HENDERSON GROUP PLC        127 
JAZZ PHARMACEUTICALS PLC COM        387 
JEFFERIES FINL GROUP INC COM        272 
JETBLUE AWYS CORP COM        82 
JONES LANG LASALLE INC COM STK        301 
JUNIPER NETWORKS INC COM        404 
KBR INC COM        100 
KELLOGG CO COM        324 

 

23

 

 

Abbott Laboratories Stock Retirement Plan
SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR) - Continued
December 31, 2022
(Dollars in thousands)

 

 

Identity of party involved/      Current 
Description of asset/ Rate/ Maturity  Cost (a)   value 
Common stock - continued        
KEMPER CORP DEL COM        124 
KEYCORP NEW COM        640 
KEYSIGHT TECHNOLOGIES INC COM        89 
KIRBY CORP COM        152 
KKR & CO INC CL A CL A        1,049 
KNIGHT-SWIFT TRANSN HLDGS INC CL A        323 
KOHLS CORP COM        116 
KROGER CO COM        1,155 
KYNDRYL HLDGS INC COM        90 
LAB CORP AMER HLDGS COM NEW        824 
LAMAR ADVERTISING CO NEW CL A CL A        39 
LANDSTAR SYS INC COM        25 
LAS VEGAS SANDS CORP COM STK        394 
LEAR CORP COM NEW COM NEW        288 
LEGGETT & PLATT INC COM        170 
LEIDOS HLDGS INC COM        566 
LENNAR CORP CL A CL A        897 
LENNAR CORP CL B CL B        44 
LENNOX INTL INC COM        302 
LESLIES INC COM        8 
LIBERTY BROADBAND CORP COM SER A COM SERA        28 
LIBERTY BROADBAND CORP COM SER C COM SERC        192 
LIBERTY MEDIA CORP DEL COM SER A  SIRIUSXM GROUP COM SER A SIRIUSXM GROUP        84 
LIBERTY MEDIA CORP DEL COM SER A FORMULAONE COM SER A MEDIA GROUP        39 
LIBERTY MEDIA CORP DEL COM SER C SIRIUSXM GROUP COM SER C SIRIUSXM GROUP        173 
LIBERTY MEDIA CORPORATION COM        421 
LINCOLN NATL CORP COM        163 
LITHIA MTRS INC COM CL A        219 
LITTELFUSE INC COM        211 
LIVE NATION ENTERTAINMENT INC        215 
LKQ CORP COM LKQ CORP        528 
LOEWS CORP COM        453 
LOUISIANA-PACIFIC CORP COM        150 
LUCID GROUP INC COM        9 
LUMEN TECHNOLOGIES INC        212 
LUMENTUM HLDGS INC COM        140 
LYFT INC CL A CL A        28 
LYONDELLBASELL IND N V COM        843 
M & T BK CORP COM        986 
MACYS INC COM STK        220 
MADISON SQUARE GARDEN SPORTS  CORP        69 
MANHATTAN ASSOCS INC COM        114 
MANPOWERGROUP INC        165 
MARATHON OIL CORP COM        677 
MARKEL CORP HOLDING CO COM        536 
MARRIOTT VACATIONS WORLDWIDE CORP COM        199 
MARTIN MARIETTA MATLS INC COM        757 
MASCO CORP COM        394 
MASIMO CORP COM STK        65 
MASTEC INC COM        206 
MASTERBRAND INC COM        25 
MATCH GROUP INC NEW COM        29 
MATTEL INC COM STOCK        129 
MC CORMICK & CO INC COM NON-VTG        821 

 

24

 

 

 

Abbott Laboratories Stock Retirement Plan        
SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR) - Continued        
December 31, 2022        
(Dollars in thousands)        
         
         
Identity of party involved/      Current 
Description of asset/ Rate/ Maturity  Cost (a)   value 
Common stock - continued          
MDU RES GROUP INC COM        242 
MERCURY SYSTEMS INC        87 
MGIC INVT CORP WIS COM        152 
MGM RESORTS INTERNATIONAL COM        425 
MICROCHIP TECHNOLOGY INC COM        216 
MIDDLEBY CORP COM        263 
MIRATI THERAPEUTICS INC COM        80 
MISTER CAR WASH INC COM        8 
MKS INSTRS INC COM        192 
MOHAWK INDS INC COM        213 
MOLINA HEALTHCARE INC COM        167 
MOLSON COORS BEVERAGE COMPANY COM        356 
MORNINGSTAR INC COM STK        21 
MOSAIC CO/THE        517 
MOTOROLA SOLUTIONS INC        1,676 
MSA SAFETY INC COM        129 
MSC INDL DIRECT INC CL A COM        149 
MSCI INC COMMON        353 
NASDAQ INC        834 
NATERA INC COM        11 
NATIONAL INSTRS CORP COM        166 
NATL FUEL GAS CO COM        202 
NCINO INC NEW COM        58 
NCR CORP COM        112 
NEW YORK CMNTY BANCORP INC COM        228 
NEW YORK TIMES CO CL A        208 
NEWELL BRANDS INC COM        195 
NEWMARKET CORP COM        72 
NEWS CORP COM CL A        273 
NEWS CORP COM CL B        86 
NEXSTAR MEDIA GROUP INC COMMON STOCK        228 
NISOURCE INC COM        440 
NORDSON CORP COM        411 
NORDSTROM INC COM        10 
 *NORTHERN TR CORP COM        719 
NORWEGIAN CRUISE LINE HLDGS LTD COM        187 
NOV INC COM        323 
NRG ENERGY INC COM NEW        288 
NUCOR CORP COM        1,335 
NUTANIX INC CL A CL A        113 
NVENT ELECTRIC PLC COM        251 
NVR INC COM STK        148 
O REILLY AUTOMOTIVE INC NEW COM        1,224 
OAK STR HEALTH INC COM        99 
OGE ENERGY CORP COM        312 
OKTA INC CL A CL A        352 
OLD REPUBLIC INTERNATIONAL CORP COM STK        267 
OLIN CORP COM        264 
OLLIES BARGAIN OUTLET HLDGS INC COM        109 
OMNICOM GROUP INC COM        656 
ON SEMICONDUCTOR CORP COM        402 
ONEMAIN HLDGS INC COM        152 
ONEOK INC COM STK        1,023 
OPENDOOR TECHNOLOGIES INC COM        16 

 

25

 

 

Abbott Laboratories Stock Retirement Plan        
SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR) - Continued        
December 31, 2022        
(Dollars in thousands)        
         
         
Identity of party involved/      Current 
Description of asset/ Rate/ Maturity  Cost (a)   value 
Common stock - continued          
ORGANON & CO COM        281 
OSHKOSH CORPORATION        229 
OTIS WORLDWIDE CORP COM        1,133 
OVINTIV INC COM        144 
OWENS CORNING NEW COM STK        314 
PACCAR INC COM        1,334 
PACKAGING CORP AMER COM        461 
PACWEST BANCORP DEL COM        106 
PARAMOUNT GLOBAL COM        7 
PARAMOUNT GLOBAL OM        385 
PARKER-HANNIFIN CORP COM        1,138 
PAYCOR HCM INC COM        53 
PDC ENERGY INC COM        102 
PELOTON INTERACTIVE INC        96 
PENN ENTERTAINMENT INC        181 
PENSKE AUTOMOTIVE GROUP INC COM STK        117 
PENTAIR PLC COM        293 
PERFORMANCE FOOD GROUP CO COM        242 
PERKINELMER INC COM        699 
PERRIGO COMPANY LIMITED COM        181 
PETCO HEALTH & WELLNESS CO INC CL A COM        30 
PG& E CORP COM        1,057 
PHILLIPS 66 COM        1,944 
PILGRIMS PRIDE CORP        21 
PINNACLE FINL PARTNERS INC COM        217 
PINNACLE W. CAP CORP COM        339 
PINTEREST INC CL A CL A        440 
PLANET FITNESS INC CL A CL A        68 
PLAYTIKA HLDG CORP COM        3 
PLUG PWR INC COM NEW        127 
POLARIS INC        57 
POPULAR INC COM NEW COM        187 
POST HLDGS INC COM STK        195 
PPG IND INC COM        549 
PPL CORP COM        851 
PREMIER INC CL A CL A        163 
PRIMERICA INC COM        205 
PRINCIPAL FINL GROUP INC COM STK        803 
PROCORE TECHNOLOGIES INC COM        37 
PROSPERITY BANCSHARES INC COM        252 
PRUDENTIAL FINL INC COM        1,447 
PUB SERVICE ENTERPRISE GROUP INC COM        1,205 
PULTE GROUP INC        248 
PVH CORP COM        181 
QIAGEN NV        447 
QORVO INC COM        362 
QUANTA SVCS INC COM        364 
QUANTUMSCAPE CORP        58 
QUEST DIAGNOSTICS INC COM        702 
QUIDELORTHO CORPORATION        165 
RALPH LAUREN CORP CL A CL A        169 
RANGE RES CORP COM        79 
RAYMOND JAMES FNCL INC COM STK        756 
REGAL REXNORD CORPORATION COM STK        314 

 

26

 

 

Abbott Laboratories Stock Retirement Plan        
SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR) - Continued        
December 31, 2022        
(Dollars in thousands)        
         
         
Identity of party involved/      Current 
Description of asset/ Rate/ Maturity  Cost (a)   value 
Common stock - continued          
REGIONS FINL CORP NEW COM        796 
REINSURANCE GROUP AMER INC COM NEW STK        375 
RELIANCE STL & ALUM CO COM        467 
RENAISSANCE RE HLDGS LTD COM        142 
REPLIGEN CORP COM STK        106 
REPUBLIC SVCS INC COM        984 
REYNOLDS CONSUMER PRODS INC COM        65 
RH COM        126 
RITCHIE BROS AUCTIONEERS        36 
RIVIAN AUTOMOTIVE INC        378 
ROBERT HALF INTL INC COM        37 
ROBINHOOD MKTS INC COM CL A        181 
ROCKET COS INC CL A CL A        14 
ROCKWELL AUTOMATION        380 
ROKU INC COM CL A COM CL A        140 
ROLLINS INC COM        25 
ROSS STORES INC COM        900 
ROYAL CARIBBEAN GROUP COM STK        430 
ROYAL GOLD INC COM STK        273 
ROYALTY PHARMA PLC COM        581 
RPM INTL INC        466 
RXO LLC COM        64 
RYDER SYS INC COM        161 
S.W. AIRL CO COM        788 
SCHNEIDER NATL INC WIS CL B        50 
SCIENCE APPLICATIONS INTL CORP NEW COM        241 
SCOTTS MIRACLE-GRO CLASS'A'COM NPV        51 
SEABOARD CORP DEL COM        38 
SEI INVTS CO COM        237 
SENSATA TECHNOLOGIES B V HOLDING        241 
SENTINELONE INC CL A COM        32 
SERVICE CORP INTL COM        409 
SIGNATURE BK NY N Y COM        268 
SIGNIFY        86 
SILGAN HLDGS INC COM        172 
SIRIUS XM HLDGS INC COM        162 
SITEONE LANDSCAPE SUPPLY INC COM        81 
SIX FLAGS ENTMT CORP NEW COM        34 
SKECHERS U S A INC CL A        188 
SKYWORKS SOLUTIONS INC COM        579 
SL GREEN RLTY CORP COM        85 
SLM CORP COM        164 
SMITH A O CORP COM        215 
SMUCKER J M CO COM NEW        645 
SNAP-ON INC COM        475 
SOFI TECHNOLOGIES INC COM        147 
SONOCO PROD CO COM        234 
SOUTHWESTERN ENERGY CO COM        236 
SPECTRUM BRANDS HLDGS INC        96 
SPIRIT AEROSYSTEMS HLDGS INC CL A        6 
SS&C TECHNOLOGIES HLDGS INC COM        454 
SSR MNG INC COM NPV        128 
STANLEY BLACK & DECKER INC COM        438 
STATE STR CORP COM        1,125 

 

27

 

 

Abbott Laboratories Stock Retirement Plan        
SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR) - Continued        
December 31, 2022        
(Dollars in thousands)        
         
         
Identity of party involved/      Current 
Description of asset/ Rate/ Maturity  Cost (a)   value 
Common stock - continued          
STEEL DYNAMICS INC COM        643 
STERICYCLE INC COM        181 
STERIS PLC ORD        728 
STIFEL FINL CORP COM        239 
SUNRUN INC COM        197 
SVB FINANCIAL GROUP COMMON STOCK        194 
SYNCHRONY FINL COM        583 
SYNEOS HEALTH INC COM        123 
SYNOVUS FINL CORP COM NEW COM NEW        214 
T ROWE PRICE GROUP INC        948 
TAKE-TWO INTERACTIVE SOFTWARE INC        115 
TANDEM DIABETES CARE INC COM NEW COM        7 
TAPESTRY INC COM        315 
TD SYNNEX CORPORATION COM        160 
TELADOC HEALTH INC        136 
TELEDYNE TECHNOLOGIES INC COM        731 
TELEFLEX INC COM        463 
TEMPUR SEALY INTL INC        228 
TENET HEALTHCARE CORP COM        205 
TERADATA CORP DEL COM STK        63 
TERADYNE INC COM        50 
TETRA TECH INC NEW COM        177 
TEXTRON INC COM        583 
TFS FINL CORP COM STK        29 
THOR INDS INC COM STK        154 
TIMKEN CO COM        171 
TOLL BROS INC COM        101 
TOPBUILD CORP COM        31 
TRADEWEB MKTS INC CL A CL A        102 
TRANE TECHNOLOGIES PLC COM        640 
TRANSDIGM GROUP INC COM        783 
TRANSUNION COM        115 
TRAVEL + LEISURE CO COM        32 
TRIMBLE INC COM TRIMBLE INC        492 
TRIPADVISOR INC COM        66 
TWILIO INC CL A CL A        209 
TYLER TECHNOLOGIES INC COM STK        66 
TYSON FOODS INC CL A COM (DELAWARE)        701 
UBIQUITI INC COM        32 
UGI CORP NEW COM        307 
U-HAUL HOLDING COMPANY        176 
U-HAUL HOLDING COMPANY        22 
UIPATH INC CL A CL A        172 
ULTRAGENYX PHARMACEUTICAL INC COM        27 
UNDER ARMOR INC CL A        76 
UNDER ARMOUR INC CL C COM        69 
UNITED AIRLINES HOLDINGS INC        486 
UNITED RENTALS INC COM        531 
UNITED STS STL CORP NEW COM        230 
UNITED THERAPEUTICS CORP DEL COM STK        489 
UNITY SOFTWARE INC COM        91 
UNIVAR SOLUTIONS INC        202 
UNUM GROUP        322 
UNVL HEALTH SERVICES INC CL B COM        345 

 

28

 

 

Abbott Laboratories Stock Retirement Plan        
SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR) - Continued        
December 31, 2022        
(Dollars in thousands)        
         
         
Identity of party involved/      Current 
Description of asset/ Rate/ Maturity  Cost (a)   value 
Common stock - continued          
UPSTART HLDGS INC COM        30 
US FOODS HLDG CORP COM        271 
UWM HLDGS CORP COM        2 
V F CORP COM        381 
VAIL RESORTS INC COM        20 
VALMONT INDS INC COM        236 
VERISIGN INC COM        673 
VERTIV HOLDINGS LLC        138 
VIASAT INC COM        90 
VIATRIS INC        533 
VICTORIAS SECRET & CO COM        33 
VIRTU FINL INC CL A        77 
VISTRA CORP COM        152 
VONTIER CORP COM        45 
VOYA FINL INC COM        237 
VULCAN MATERIALS CO COM        469 
WABTEC CORP COM        714 
WARNER BROS DISCOVERY INC        235 
WATSCO INC COM        153 
WAYFAIR INC CL A CL A        37 
WEBSTER FNCL CORP WATERBURY CONN COM        324 
WEC ENERGY GROUP INC COM        1,169 
WESCO INTL INC COM        104 
WESTERN ALLIANCE BANCORPORATION COM        96 
WESTERN UNION CO        139 
WESTLAKE CORPORATION COM        134 
WESTN DIGITAL CORP COM        396 
WESTROCK CO COM        352 
WEWORK INC CL A CL A        12 
WEX INC COM        77 
WHIRLPOOL CORP COM        298 
WHITE MOUNTAINS INSURANCE GROUP COM        140 
WILLIAMS CO INC COM        1,583 
WILLIAMS SONOMA INC COM        63 
WILLIS TOWERS WATSON PLC COM        1,040 
WILLSCOT MOBILE MINI HLDGS CORP        170 
WINTRUST FINL CORP COM        201 
WIX.COM LTD COM        37 
WOLFSPEED INC COM        336 
WOODWARD INC COM        225 
WYNDHAM HOTELS & RESORTS INC COM        75 
WYNN RESORTS LTD COM        297 
XCEL ENERGY INC COM        1,510 
XPO INC COM        125 
XYLEM INC COM        673 
YUM BRANDS INC COM        1,263 
ZEBRA TECHNOLOGIES CORP CL A        308 
ZILLOW GROUP INC COM        65 
ZILLOW GROUP INC COM        189 
ZIMMER BIOMET HLDGS INC COM        1,057 
ZIONS BANCORPORATION N A        286 
ZOOM VIDEO COMMUNICATIONS INC CL A        335 
Total Common stock        5,310,018 

 

29

 

 

 

Abbott Laboratories Stock Retirement Plan        
SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR) - Continued        
December 31, 2022        
(Dollars in thousands)        
         
         
Identity of party involved/      Current 
Description of asset/ Rate/ Maturity  Cost (a)   value 
Mutual funds        
PIMCO ALL ASSET FUND        107,725
           
REITs          
1ST INDL RLTY TR INC COM        251 
AGNC INVT CORP COM        234 
ALEXANDRIA REAL ESTATE EQUITIES INC COM        932 
AMERICAN HOMES 4 RENT COMMON STOCK        367 
AMERICOLD RLTY TR INC COM        301 
ANNALY CAPITAL MANAGEMENT INC COM        390 
AVALONBAY CMNTYS REIT        891 
BRIXMOR PPTY GROUP INC COM        267 
BSTN PPTYS INC        419 
CAMDEN PPTY TR SH BEN INT        420 
COUSINS PPTYS INC        151 
CUBESMART        356 
DOUGLAS EMMETT INC COM REIT        104 
EASTGROUP PPTYS INC REIT        241 
EPR PPTYS COM SH BEN INT COM SH BEN INT        111 
EQTY LIFESTYLE PPTYS INC REIT        176 
EQTY RESDNTL EFF 5/15/02        863 
ESSEX PPTY TR REIT        544 
EXTRA SPACE STORAGE INC COM        679 
FEDERAL RLTY INVT TR COM        320 
GAMING & LEISURE PPTYS INC COM        503 
HEALTHCARE REALTY TRUST INC COM        289 
HEALTHPEAK OP LLC        534 
HIGHWOODS PPTYS INC COM        115 
HOST HOTELS & RESORTS INC REIT        449 
HUDSON PACIFIC PROPERTIES INC COM        53 
INVITATION HOMES INC COM        715 
IRON MTN INC NEW COM        143 
JBG SMITH PROPERTIES COM        80 
KILROY RLTY CORP COM        178 
KIMCO REALTY CORPORATION        505 
LIFE STORAGE INC COM        327 
MEDICAL PPTYS TR INC COM REIT        261 
MID-AMER APT CMNTYS INC COM        712 
NATIONAL RETAIL PPTYS INC COM STK        322 
NATIONAL STORAGE AFFILIATES TR COM SHS BEN INT        121 
OMEGA HEALTHCARE INVS INC REIT        260 
PARK HOTELS & RESORTS INC COM        104 
RAYONIER INC REIT        190 
REALTY INCOME CORP COM        1,573 
REGENCY CTRS CORP COM        423 
REXFORD INDL RLTY INC COM        396 
RITHM CAPITAL CORP        140 
SBA COMMUNICATIONS CORP        911 
SIMON PROPERTY GROUP INC COM        780 
SPIRIT REALTY CAPITAL INC COM        220 
STARWOOD PROPERTY TRUST INC COM REIT        212 
STORE        322 
SUN COMMUNITIES INC COM        687 
UDR INC COM STK        495 
VENTAS INC REIT        711 

 

30

 

 

Abbott Laboratories Stock Retirement Plan        
SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR) - Continued        
December 31, 2022        
(Dollars in thousands)        
         
         
Identity of party involved/      Current 
Description of asset/ Rate/ Maturity  Cost (a)   value 
REITs - continued          
VICI PPTYS INC COM        1,231 
VORNADO RLTY TR COM        145 
W P CAREY INC COM        637 
WELLTOWER INC COM REIT        1,225 
WEYERHAEUSER CO COM        901 
Total REITs        24,887 
           
Collective trust funds          
BLACKROCK INTERNATIONAL MULTI CAP EQUITY FUND        86,674 
CAPITAL GROUP EUROPACIFIC GROWTH TRUST        312,457 
CAPITAL GROUP GROWTH FUND OF AMERICA TRUST        818,530 
CAPITAL GROUP WASHINGTON MUTUAL INVESTORS TRUST        305,650 
GW&K SMALL-MID CAP CORE EQUITY FUND        149,601 
*NORTHERN TRUST COLLECTIVE ACWI ex-U.S. INDEX FUND        121,914 
*NORTHERN TRUST COLLECTIVE SHORT TERM INVESTMENT FUND        6,791 
PIMCO TOTAL RETURN COLLECTIVE TRUST FUND        201,504 
SSGA RUSSELL SMALL/MID CAP INDEX FUND CLASS K        647,715 
SSGA S&P 500 INDEX FUND CLASS K        1,432,743 
SSGA U.S. BOND INDEX FUND CLASS K        129,873 
SSGA TARGET RETIREMENT 2020        209,451 
SSGA TARGET RETIREMENT 2025        380,324 
SSGA TARGET RETIREMENT 2030        416,932 
SSGA TARGET RETIREMENT 2035        384,694 
SSGA TARGET RETIREMENT 2040        312,801 
SSGA TARGET RETIREMENT 2045        267,412 
SSGA TARGET RETIREMENT 2050        203,084 
SSGA TARGET RETIREMENT 2055        121,911 
SSGA TARGET RETIREMENT 2060        59,829 
SSGA TARGET RETIREMENT 2065        11,881 
SSGA TARGET RETIREMENT INCOME        125,220 
Total Collective trust funds        6,706,991 
           
Futures contracts          
EQUITY FUTURES OFFSET - LONG        (1,607)
FUT MAR 23 EMINI S&P 500        386 
FUT MAR 23 IMM EMINI MDCP        1,221 
Total Futures contracts        - 
           
Corporate debt          
AERCAP IRELAND CAP DESIGNATED ACTIVITY C4.5% DUE 09-15-2023 REG        1,987 
AERCAP IRELAND CAP/GLOBA 1.65% DUE  10-29-2024 BEO        2,953 
AIR LEASE CORP MED 2.25% DUE 01-15-2023        2,198 
AMERICAN ELEC PWR CO INC FLTG RT DUE 11-01-2023 REG        4,977 
AMERICAN ELEC PWR INC DISC COML PAPER 4/2 YRS 3&4 01-04-2023        1,300 
APIDOS CLO XXVII / APIDOS CLO XXVII SR SECD NT CL A-1R 144A 5.72243% 07-17-2030        3,757 
AT&T INC FLTG RT 02-15-2023        1,200 
AT&T INC DISC COML PAPER 4/2 YRS 3&4 01-03-2023        7,096 
ATMOS ENERGY CORP SR NT FLTG 5.10343% 03-09-2023        4,197 
BANK OF NOVIA SCOTIA 2YR FRN NEW ISSUE FLTG RT 03-11-2024        2,995 
BARCLAYS PLC SR NT FLTG VAR RT DUE 05-16-2024/05-16-2023        700 
BOEING CO 1.433% 02-04-2024        1,146 
BOEING CO 1.875% DUE 06-15-2023        886 
BOEING CO 4.508% DUE 05-01-2023        2,994 
CAPITAL ONE FINL CORP 05-09-2025        1,976 

 

31

 

 

Abbott Laboratories Stock Retirement Plan        
SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR) - Continued        
December 31, 2022        
(Dollars in thousands)        
         
         
Identity of party involved/      Current 
Description of asset/ Rate/ Maturity  Cost (a)   value 
Corporate debt - continued          
CARLYLE GLOBAL MARKET STRATEGI 14/08/2030 0% 08-14-2030        3,714 
CENTERPOINT ENERGY RES CORP DEL SR NT FLTG RATE 5.27857% 03-02-2023        976 
CHARTER COMMUNICATIONS OPER LLC FRNS 02-01-2024        1,005 
CONSOLIDATED EDISON CO N Y INC DISC COMLPAPER 4/2 YRS 3&4 01-17-2023        1,895 
CONSOLIDATED EDISON CO N Y INC DISC COMLPAPER 4/2 YRS 3&4 01-18-2023        1,995 
CONSOLIDATED EDISON CO N Y INC DISC COMLPAPER 4/2 YRS 3&4 01-19-2023        1,995 
CONSOLIDATED EDISON CO N Y INC DISC COMLPAPER 4/2 YRS 3&4 01-20-2023        1,994 
CR SUISSE GROUP 3.8% DUE 06-09-2023        4,285 
CROWN CASTLE INTL CORP 4/A2 DISC COML PAPER YRS 3&4 01-10-2023        649 
CROWN CASTLE INTL CORP 4/A2 DISC COML PAPER YRS 3&4 CPN 01-04-2023        1,849 
DELL EQUIP FIN TR 2021-2 ASSET BACKED NTCL A-3 144A .53% 12-22-2026        1,437 
DOMINION ENERGY INC FLTG RT DUE 09-15-2023        1,896 
DUKE ENERGY CORP DISC COML PAPER 4/2 YRS3&4 01-17-2023        5,189 
ELECTRICITE DE FRANCE DISC COML PAPER 4/2 YRS 3&4 01-20-2023        7,877 
ELLINGTON FINL MTG TR 2022-1 MTG PASS THRU CTF CL A-1 2.206% 01-25-2067        2,334 
ENEL FIN AMER LLC DISC COML PAPER 4/A2 YRS 3&4 01-12-2023        4,393 
FISERV INC DISC COML PAPER 4/2 YRS 3&4 01-23-2023        7,876 
FORD CR AUTO OWNER FLTG RT 5.31804% DUE 08-15-2025        3,008 
GEN MTRS FINL CO FIXED 4.15% 06-19-2023        995 
GOLDMAN SACHS FLTG RT 5.418721% DUE 12-09-2026        3,272 
GS MTG BACKED SECS FLTG RT 5% DUE 01-25-2052        2,443 
HALEON US CAPITAL LLC 3.024% 03-24-2024        971 
HUMANA INC DISC COML PAPER 4/2 YRS 3&4 01-05-2023        250 
HYUNDAI AUTO RECEIVABLES TR 2022-C NT CLA-2-B FLTG RATE 5.33804% 11-17-2025        3,911 
LCM XIII LTD PARTNERSHIP / LCM XIII 0% 07-19-2027        556 
MARATHON STATIC VAR RT 4.70082% DUE 07-20-2030        3,473 
MFA 2020-NQM2 TR 1.381% DUE 04-25-2065        575 
MITSUBISHI UFJ FINL GROUP INC SR NT FLTGDUE 07-26-2023 REG        2,033 
MIZUHO FINL GROUP INC FLTG 05-22-2026        2,159 
MMAF EQUIPMENT FINANCE LLC 2022-B AST BACKED CTF CL A-1 144A 4.924% 12-01-2023        1,613 
NAVIENT PRIVATE ED LN TR 2020-I 5.68443%04-15-2069        1,731 
NEUBERGER BERMAN CLO LTD 20/04/2031  1.29400002956% 04-21-2031        3,833 
NEXTERA ENERGY CAP HLDGS INC SR NT FLTG RATE 5.702202% 03-21-2024        298 
NOMURA HLDGS INC 2.648% 01-16-2025        1,039 
OBX 2022-NQM1 TR MTG BACKED NT CL A-1 144A 2.30500006676% 11-25-2061        2,183 
OBX 2022-NQM2 TR VAR RT 2.783% DUE 01-25-2062        728 
ORACLE CORP NEW DISC COML PAPER 4/2 YRS 3&4 CPN 01-27-2023        2,839 
OSCAR US FDG XIV LLC NT CL A-2 144A 1.6%03-10-2025        346 
PAC GAS & ELEC CO 4.25% DUE 08-01-2023        895 
PAC GAS & ELEC CO 1.7% DUE 11-15-2023        1,355 
PAC GAS & ELEC CO FIXED 3.75% DUE 02-15-2024        196 
PACIFIC GAS & ELEC CO 3.25% 06-15-2023        99 
PACIFIC GAS & ELEC CO 3.4% 08-15-2024        288 
PACIFIC GAS & ELECTRIC CO 3.85% 11-15-2023        99 
PVPTL DAIMLER TRUCKS FLTG RT 12-14-2023        2,485 
PVTPL AMMC CLO 16 LTD/AMMC CLO 16 CORP SR SECD NT CL A-R2 FLTG 04-14-2029        1,697 
PVTPL APIDOS CLO 17-26A A1AR FLTG 07-18-2029 USD        1,975 
PVTPL BAMLL COML MTG SECS SR 2019-AHT CL A FLTG 03-15-2034        680 
PVTPL BDS 2019-FL4 LTD SER 19-FL4 CL A FLTG 08-15-2036        48 
PVTPL CBAM 2018-8 LTD LLC NT CL A-1 FLTG 3C7 10-20-2029 BEO        3,100 
PVTPL CMO AREIT 2021-CRE5 LTD/AREIT AREIT 2021-C SR NT CL A VAR RT 07-17-2026        2,046 
PVTPL CMO COLT 2021-4 MTG LN TR MTG PASSTHRU CTF CL A-1 10-25-2066        2,079 
PVTPL CMO NATIXIS COML MTG SECS SER 2018-TECH CL A FLTG 144A 11-15-2034        2,156 
PVTPL CMO WELLS FARGO COML MTG TR SER 2017-HSDB CL A VAR RT 12-13-2023        1,479 

 

32

 

 

Abbott Laboratories Stock Retirement Plan        
SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR) - Continued        
December 31, 2022        
(Dollars in thousands)        
         
         
Identity of party involved/      Current 
Description of asset/ Rate/ Maturity  Cost (a)   value 
Corporate debt - continued          
PVTPL CMO WFRBS COML MTG SER-2014-C21 CL-ASBF FLTG 08-16-2047 BEO        169 
PVTPL GPMT 2021-FL3 LTD/GPMT 2021-FL3 LLC SR SECD NT CL A FLTG 07-16-2035        1,302 
PVTPL HALSEYPOINT CLO II LTD SR 20-2A CL A1 FLTG 07-20-2031        3,736 
PVTPL JACKSON NATIONAL LIFE GLBL FUNDING FLTG RT 06-28-2024        2,600 
PVTPL KKR CLO 9 LTD / KKR CLO 9 LLC 15/07/2030 VAR RT DUE 07-15-2030 BEO        2,747 
PVTPL MAGALLANES INC 3.428% 03-15-2024 BEO        680 
PVTPL MAGALLANES INC FLTG RT 03-15-2024        1,096 
PVTPL MAGNETITE XVIII LTD/MAGNETITE XVIII LL SR16-18A CL AR2 VAR RT 11-15-2028        286 
PVTPL MF1 MULTIFAMILY HOUSING MORTGAGE LO SR 20-FL4 CL A VAR RT DUE 11-15-2035        1,709 
PVTPL NAVIENT PRIVATE ED REFI LN TR 2021-G CL A 1.58% DUE 04-15-2070 BEO        1,668 
PVTPL NAVIENT PRIVATE ED REFI LN TR SRS 20-HA CL A 1.31% DUE 01-15-2069        1,132 
PVTPL NAVIENT STUDENT LN TR 2014-1 SR 22-A CL A 2.23% 07-15-2070        1,235 
PVTPL NELNET STUDENT LN TR FLTG RT SER 19-2A CL A 06-27-2067 BEO        1,874 
PVTPL OCTAGON INVT PARTNERS XXI LTD/OCTAGON SR SECD NT 02-14-2031        3,449 
PVTPL PALMER SQUARE LN FDG 2020-1 CL A1 FLTG RT DUE 02-20-2028        1,466 
PVTPL PALMER SQUARE LN FDG 2021-3 LTD/SR SECD NT CL A-1 FLTG 5.04257% 07-20-2029        2,843 
PVTPL PALMER SQUARE LOAN FUNDING LTD SER 21-4A CL A1 FLTG RT 10-15-2029 BEO        2,076 
PVTPL SOUND PT CLO XVI LTD/SOUND PT CLO XVI VAR RT DUE 07-25-2030 BEO        1,969 
PVTPL STANDARD CHARTERED PLC NT FLTG RATE 11-23-2025        4,469 
PVTPL STRATUS CLO 2021-3 LTD/STRATUS CLO202 SR 21-3A CL A VAR RT DUE 12-29-2029        267 
PVTPL TCW CLO SER 18-1A CL A1R FLTG 04-25-2031 BEO        295 
PVTPL UBS AG LONDON BRH 09/02/2024 4.95604% DUE 02-09-2024 BEO        697 
PVTPL VENTURE CLO LTD SR 17-28A CL A2R VAR RT 07-20-2030        3,728 
PVTPL VIBRANT CLO VI LTD SER 17-6A CL AR FLTG 06-20-2029        1,735 
PVTPL VMC FIN 2021-FL4 LLC SR SECD NT CLA 144A FLTG RATE VAR RT DUE 06-16-2036        965 
READY CAP MTG FING FLTG RT 5.84529% DUE 04-25-2038        1,424 
SARANAC CLO VI LTD / SARANAC CLO VI 6.29371% 08-13-2031        1,865 
SOFI PROFESSIONAL LN PROGRAM 2020-C POSTGRADUATE LN AST BKD NT 1.95% 02-15-2046        1,233 
SOUND PT CLO XV LTD / SOUND PT CLO SR SECD NT CL A-RR 144A 5.71529% 01-23-2029        2,955 
SOUTHERN CALIF EDISON CO 1ST & REF MTG  SER 2021 FLTG 5.136515% 04-03-2023        4,493 
TOWD PT MTG TR 2021-1 NT CL A1 144A 2.25% 11-25-2061        2,098 
TOYOTA AUTO RECEIVABLES OWNER TRUST SER 22-D CL A2B FLTG RT 01-15-2026        3,909 
TRANSCANADA PIPELINES LTD DISC COML PAPER 4/2 YRS 3&4 CPN 01-19-2023        4,488 
VW CR INC DISC COML PAPER 4/2 YRS 2&4 01-26-2023        7,074 
WALGREENS BOOTS ALLIANCE DISC COML PAPER4/2 YRS 3&4 01-18-2023        7,879 
WARNERMEDIA HLDGS INC SR NT 3NC1 144A 3.788% 03-15-2025        859 
WELLS FARGO & CO MEDIUM TERM SR NTS BOOKVAR RT DUE 04-25-2026/04-25-2025        2,293 
WFRBS COML MTG TR 3.337% DUE 06-15-2046        3,659 
Total Corporate debt        239,076 
           
Government debt          
GNMA 2016-H17 MTG PASS THRU CTF CL MX FC08-20-2066        509 
GNMA 2016-H20 REMIC PASSTHRU CTF CL MX-PT 09-20-2066        1,072 
GNMA REMIC PASSTHRU SER 2016-H11 CLS F 05-20-2066        98 
UNITED STATES TREASURY BILLS 05-11-2023        330 
UNITED STATES TREASURY NOTES .875% 12-15-2024        4,402 
UNITED STATES TREASURY NOTES 30/11/2023 .5% DUE 11-30-2023 BEO        195,404 
UNITED STATES TREASURY NOTES 4.25% 09-30-2024        58,922 
Total Government debt        260,737 
           
Private 40-Act mutual fund          
PIMCO Short-Term Floating NAV Portfolio II        477,645 

 

33

 

 

Abbott Laboratories Stock Retirement Plan        
SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR) - Continued        
December 31, 2022        
(Dollars in thousands)        
         
         
Identity of party involved/      Current 
Description of asset/ Rate/ Maturity  Cost (a)   value 
Certificate of deposit          
TORONTO DOMINION BK N Y BRH INSTL DTD 10-19-2022 CTF DEP VAR RT 04-21-2023        2,501 
           
Other          
BUY TO OPEN REPO W/BNP PARIB 4.32% FROM 12-30-2022 TO 01-03-2023        2,300 
DOMESTIC MASTER RECEIVABLE FROM TD        300 
FORWARDS RECEIVABLE FROM CREDIT SUISSE AG NEW YORK BRANCH        340 
Total Other        2,940 
           
*Loans to participants, 3.00% to 7.00%        89,059 
           
        $13,221,579 
           
*Represents a party-in-interest transaction.          
           
(a) Cost information omitted as all investments are fully participant directed.          

 

34

 

 

FINANCIAL STATEMENTS AND

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

ABBOTT LABORATORIES STOCK RETIREMENT PLAN (PUERTO RICO)

DECEMBER 31, 2022 and 2021

 

 

 

 

C O N T E N T S

 

Page

 

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 3
   
FINANCIAL STATEMENTS  
   
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS 5
   
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS 6
   
NOTES TO FINANCIAL STATEMENTS 7
   
SUPPLEMENTAL SCHEDULE  
   
SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR) 15

 

 

 

 

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

 

Plan Administrator and Plan Participants

Abbott Laboratories Stock Retirement Plan (Puerto Rico)

 

Opinion on the financial statements

 

We have audited the accompanying statements of net assets available for benefits of Abbott Laboratories Stock Retirement Plan (Puerto Rico) (the “Plan”) as of December 31, 2022 and 2021, the related statement of changes in net assets available for benefits for the year ended December 31, 2022, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2022 and 2021, and the changes in net assets available for benefits for the year ended December 31, 2022 in conformity with accounting principles generally accepted in the United States of America.

 

Basis for opinion

 

These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

 

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion.

 

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

 

3

 

 

Supplemental information

 

The schedule of assets (held at end of year) as of December 31, 2022 (“supplemental information”) has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental information is the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole.

 

/s/ GRANT THORNTON LLP

 

We have served as the Plan’s auditor since 2014.

 

Chicago, Illinois

June 23, 2023

 

4

 

 

Abbott Laboratories Stock Retirement Plan (Puerto Rico)      
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS    
December 31, 2022 and 2021      
(Dollars in thousands)      
       

 

   2022   2021 
Assets          
Cash  $5   $9 
Investments, at fair value   204,193    242,246 
Notes receivable from participants   4,359    4,518 
Due from brokers   -    1 
Accrued interest income   33    4 
           
Total assets   208,590    246,778 
           
Liabilities          
Due to brokers   1    303 
           
Total liabilities   1    303 
           
NET ASSETS AVAILABLE FOR BENEFITS  $208,589   $246,475 

 

The accompanying notes are an integral part of these statements.

 

5

 

 

Abbott Laboratories Stock Retirement Plan (Puerto Rico)  
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS  
Year ended December 31, 2022  
(Dollars in thousands)  
   

 

Additions     
Contributions     
Employer  $2,290 
Participant   4,995 
Rollovers   119 
      
Total contributions   7,404 
      
Investment (loss) income     
Net depreciation in fair value of investments   (35,786)
Interest and dividends   3,481 
      
Net investment loss   (32,305)
      
Interest income on notes receivable from participants   159 
      
Net additions   (24,742)
      
Deductions     
Benefits paid to participants   13,111 
Other expenses   33 
      
Total deductions   13,144 
      
NET DECREASE   (37,886)
      
Net assets available for benefits     
Beginning of year   246,475 
      
End of year  $208,589 

 

The accompanying notes are an integral part of these statements.

 

6

 

 

Abbott Laboratories Stock Retirement Plan (Puerto Rico)

NOTES TO FINANCIAL STATEMENTS

December 31, 2022 and 2021

 

 

NOTE A - DESCRIPTION OF THE PLAN

 

The following description of the Abbott Laboratories Stock Retirement Plan (Puerto Rico) (the “Plan”) provides only general information. Participants should refer to the Plan document for a more complete description of the Plan’s provisions.

 

General

 

The Plan was established January 1, 2013 in conjunction with Abbott Laboratories (“Abbott”) separating into two publicly traded companies – Abbott and AbbVie Inc. (“AbbVie”). The Plan covers employees of Abbott’s selected subsidiaries and affiliates in Puerto Rico (the “Company”).

 

The Plan is a profit-sharing plan containing a cash or deferred arrangement intended to qualify for favorable tax treatment under sections 1081.01 (a) and (d) of the Puerto Rico Internal Revenue Code of 2011, as amended. In addition, the Plan provides an arrangement by which employees may invest in Abbott shares. Employees of the Company may, after meeting certain employment requirements, voluntarily participate in the Plan. Beginning March 2017, newly hired employees in certain specified Abbott divisions and business units became eligible to participate in the Plan under a different structure (“Abbott Green” employees).

 

The Plan’s sponsor is Abbott Healthcare (Puerto Rico) Ltd. Alight Solutions serves as the record keeper of the Plan. The Northern Trust Company (“Custodian”) and Banco Popular de Puerto Rico (“Trustee”) serve as the Plan’s custodian and trustee, respectively. The Plan is subject to the Employee Retirement Income Security Act of 1974, as amended (“ERISA”).

 

Contributions and Vesting

 

Contributions to the Plan are paid to a trust administered by the Trustee. An investment committee (the “Committee”) may direct the Trustee to establish investment options of the Committee’s choosing.

 

Employees are eligible to commence participation in the Plan on any entry date following their date of hire. Eligible employees electing to participate may contribute from 2% (or 1%, for Abbott Green participants) to 25% of their eligible earnings, subject to certain limitations. Participants may choose to make their contributions from either pretax earnings or after-tax earnings, or both. Participants who have attained age 50 before the end of the Plan year and who are making the maximum pretax contribution are eligible to make catch-up contributions. Participants may elect to invest their contributions in any or all of the investment options, except for investment options closed to new contributions.

 

7

 

 

Abbott Laboratories Stock Retirement Plan (Puerto Rico)

NOTES TO FINANCIAL STATEMENTS - CONTINUED

December 31, 2022 and 2021

 

 

NOTE A - DESCRIPTION OF THE PLAN - Continued

 

Contributions and Vesting - Continued

 

Employer matching contributions to the Plan are made each payroll period based on the participating employees’ eligible earnings. Excluding the Abbott Green participants, the employer contribution for the year ended December 31, 2022 was 5% of the participant’s eligible earnings if the participant elected to contribute at least 2% of eligible earnings to the Plan. Effective with the first pay period ending after March 1, 2017, employer matching contributions for Abbott Green participants are made at the rate of 100% up to a 3% deferral of eligible earnings. Employer contributions are invested each pay period according to the participant’s investment elections.

 

In connection with the January 1, 2013 separation of Abbott into two publicly traded companies, Abbott shareholders received as a tax-free distribution one share of AbbVie stock for every share of Abbott held as of the close of business on December 12, 2012, the record date for the distribution. Plan participants may continue to hold the AbbVie stock they received from the distribution; however, they may not make new contributions or transfer existing contributions or earnings to purchase AbbVie stock in the Plan. AbbVie dividends are invested in the Plan’s default investment option.

 

Participants may direct the Trustee to sell all or a portion of the Abbott and AbbVie common shares held in their accounts and reinvest the proceeds in any of the other investment options available to the participants.

 

Participants are at all times fully vested in their own contributions and earnings thereon. Vesting in employer contributions and earnings thereon is based on the following vesting schedule:

 

   Vesting 
Service  percentage 
Less than two years   0% 
Two years or more   100% 

 

A participant becomes 100% vested in his or her employer contributions if, while employed by the Company, he or she dies or attains age 65.

 

Abbott Green participants who first became participants prior to January 1, 2018 are also fully vested in matching contributions upon qualifying disability.

 

Non-vested portions of employer contributions and earnings thereon are forfeited as of an employee’s termination date. Forfeitures are used to (1) restore any forfeitures of participants who returned to service with the Company within a given period of time, (2) pay Plan expenses and (3) reduce future employer contributions if terminated participants do not return to service within the given period of time. In 2022, approximately $71,500 of forfeitures were used to reduce employer contributions. Forfeitures totaling approximately $113,400 and $181,000 were available at the end of 2022 and 2021, respectively.

 

8

 

 

Abbott Laboratories Stock Retirement Plan (Puerto Rico)

NOTES TO FINANCIAL STATEMENTS - CONTINUED

December 31, 2022 and 2021

 

 

NOTE A - DESCRIPTION OF THE PLAN - Continued

 

Distributions and In-Service Withdrawals

 

Following retirement, termination or death, participants or their beneficiaries may elect to receive a distribution in installments, a single lump sum or a partial lump sum. Participants may elect a direct rollover of their accounts. Interest, dividends and other earnings will continue to accrue on any deferred amounts prior to distribution.

 

Prior to termination, participants are permitted to withdraw their after-tax contributions (after-tax contributions made on or after January 8, 2016 may be withdrawn from the Plan only after being held for two or more years) and rollover contributions (including merged-in plan rollover accounts) and, after age 59 ½, may also withdraw pretax contributions. Distributions are made in cash or, to the extent contained in the participant’s account, a participant may elect distribution of Abbott and AbbVie common shares, and in each case, are subject to certain limitations.

 

Notes Receivable from Participants

 

Participants may convert their vested account balances into one or two loans to themselves. The borrowing may not exceed the lesser of the current market value of the assets allocated to their vested accounts or 50% of all of their Plan accounts up to $50,000, subject to Puerto Rico Internal Revenue Code limitations and restrictions. Participants pay interest on such borrowings at the prime rate in effect at the time the participant loan is made. Loans must be repaid within five years (or by the employee’s anticipated retirement date, if sooner) unless the loan is used for the purchase of the primary residence of the employee, in which case the repayment period can be extended to a period of fifteen years (or until the employee’s anticipated retirement date, if sooner). Repayment is generally made through periodic payroll deductions or by sending in a payment, but a loan may be repaid in a lump sum at any time. Post-termination loan repayments are permitted. For employees whose account is distributed during the repayment period, the balance of the outstanding loan is netted from their Plan distribution.

 

9

 

 

Abbott Laboratories Stock Retirement Plan (Puerto Rico)

NOTES TO FINANCIAL STATEMENTS - CONTINUED

December 31, 2022 and 2021

 

 

NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Basis of Accounting

 

The financial statements have been prepared using the accrual basis of accounting.

 

Use of Estimates

 

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and changes therein, and disclosure of contingent assets and liabilities. Actual results may differ from those estimates.

 

Investment Valuation

 

The Plan uses the following methods and significant assumptions to estimate the fair value of investments:

 

Common stock and mutual funds - Valued at the published market price per share or unit multiplied by the number of shares or units held.

 

Collective trust funds - Valued at the net asset value (“NAV”) provided by the administrator of the fund. The NAV is used as a practical expedient to estimate fair value. The NAV is based on the value of the underlying assets owned by the fund, minus its liabilities, and then divided by the number of shares outstanding. Participants are permitted to make redemptions from the funds on a daily basis. Certain funds require five days’ notice for a Plan level redemption.

 

The following tables summarize the basis used to measure investments at fair value at December 31, 2022 and 2021 (dollars in thousands):

 

   Basis of Fair Value Measurement     
2022  Quoted
Prices in
Active
Markets
   Significant
Other
Observable
Inputs
   Significant
Unobservable
Inputs
   Measured at
NAV
   Total 
Common stock  $99,063   $-   $-   $-   $99,063 
Mutual funds   36,775    -    -    -    36,775 
Collective trust funds   -    -    -    68,355    68,355 
Total investments at fair value  $135,838   $-   $-   $68,355   $204,193 

 

10

 

 

Abbott Laboratories Stock Retirement Plan (Puerto Rico)

NOTES TO FINANCIAL STATEMENTS - CONTINUED

December 31, 2022 and 2021

 

 

NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued

 

Investment Valuation - Continued

 

   Basis of Fair Value Measurement     
2021  Quoted
Prices in
Active
Markets
   Significant
Other
Observable
Inputs
   Significant
Unobservable
Inputs
   Measured at
NAV
   Total 
Common stock  $115,446   $-   $-   $-   $115,446 
Mutual funds   45,416    -    -    -    45,416 
Collective trust funds   -    -    -    81,384    81,384 
Total investments at fair value  $160,862   $-   $-   $81,384   $242,246 

 

Notes Receivable from Participants

 

Notes receivable from participants are measured at their unpaid balance plus any accrued but unpaid interest. Delinquent loans are reclassified as distributions based upon the terms of the Plan. No allowance for credit losses has been recorded as of December 31, 2022 or 2021.

 

Income Recognition

 

Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Net realized and unrealized appreciation/depreciation is recorded in the accompanying statement of changes in net assets available for benefits as net depreciation in fair value of investments.

 

Administrative Expenses

 

Participants are charged transaction fees for loan processing and commissions on purchases and sales of Abbott shares and sales of AbbVie shares. Investment fees for mutual funds and collective trusts are charged against the net assets of the respective fund. The Company pays other record-keeping and administration fees, where applicable.

 

Payment of Benefits

 

Benefits are recorded when paid.

 

11

 

 

Abbott Laboratories Stock Retirement Plan (Puerto Rico)

NOTES TO FINANCIAL STATEMENTS - CONTINUED

December 31, 2022 and 2021

 

 

NOTE C - INVESTMENTS

 

Distributions of Abbott common shares and conversions of participants’ common share account balances to participant loans or other investment options are recorded at fair market value.

 

A summary of Abbott common share data as of December 31, 2022 and 2021 is presented below:

 

   2022   2021 
Abbott common shares, 587,473 and 594,382 shares, respectively (dollars in thousands)  $64,499   $83,653 
Market value per share  $109.79   $140.74 

 

NOTE D - RELATED-PARTY AND PARTY-IN-INTEREST TRANSACTIONS

 

The Plan holds units of collective trust funds managed by the Custodian. A significant portion of the Plan’s assets is invested in Abbott common shares. These transactions qualify as party-in-interest transactions; however, they are exempt from the prohibited transaction rules under ERISA. During 2022, the Plan received $1,112,000 in common stock dividends from Abbott.

 

Participants pay fees to the recordkeeper for loan transaction processing and for commissions on purchases and sales of Abbott shares and sales of AbbVie stock. These transactions qualify as permitted party-in-interest transactions.

 

NOTE E - PLAN TERMINATION

 

The Plan may be terminated at any time by Abbott upon written notice to the Trustee and Committee. All participants’ account balances would become fully vested upon Plan termination. Upon termination of the Plan, distributions of each participant’s share in the trust, as determined by the terms of the Plan, would be made to each participant. At the present time, Abbott has no intention of terminating the Plan.

 

12

 

 

Abbott Laboratories Stock Retirement Plan (Puerto Rico)

NOTES TO FINANCIAL STATEMENTS - CONTINUED

December 31, 2022 and 2021

 

 

NOTE F - TAX STATUS

 

The Plan received letters dated April 19, 2016 and December 2, 2019 from the Department of the Treasury of the Commonwealth of Puerto Rico that the Plan, as written, qualifies under Section 1081.01(a) of the Puerto Rico Internal Revenue Code of 2011, as amended and, consequently, its enabling trust is exempt from local income tax. The Plan has been amended since receiving the letters. The Plan administrator believes that the Plan is designed and is currently being operated, in all material respects, in accordance with the applicable Puerto Rico Internal Revenue Code.

 

Accounting principles generally accepted in the United States of America require Plan management to evaluate tax positions taken by the Plan and recognize a tax liability if the organization has taken an uncertain position that more likely than not would not be sustained upon examination by the applicable taxing authorities. The Plan administrator has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2022 and 2021, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits in progress.

 

NOTE G - RISKS AND UNCERTAINTIES

 

In general, the investments provided by the Plan are exposed to various risks, such as interest rate, credit and overall market volatility risks. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participant accounts and the amounts reported in the statements of net assets available for benefits.

 

NOTE H – SUBSEQUENT EVENTS

 

Management of the Plan has evaluated subsequent events from December 31, 2022 through the date these financial statements were issued. Management of the Plan is not aware of any subsequent events that require recognition or additional disclosure in these financial statements.

 

13

 

 

SUPPLEMENTAL SCHEDULE

 

 

 

 

Abbott Laboratories Stock Retirement Plan (Puerto Rico)        
SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)        
December 31, 2022          
(Dollars in thousands)          
           

 

Identity of party involved/     Current 
description of asset  Cost (a)  value 
Common stock - employer securities        
  *Abbott Laboratories, common shares     $64,499 
         
Common stock        
    AbbVie Inc., common stock      34,564 
Total Common stock      99,063 
         
Mutual funds        
    American Funds EuroPacific Growth Trust      4,874 
    American Funds The Growth Fund of America Trust      12,174 
    American Funds Washington Mutual Investors Trust      3,283 
    PIMCO All Asset Fund      2,681 
    PIMCO Short Asset Investment Fund      10,372 
    Vanguard Mid-Cap Value Index Fund Admiral      3,391 
Total Mutual funds      36,775 
         
Collective trust funds        
    Blackrock International Opportunities Fund      1,814 
    GW&K Small-Mid Cap Core Equity Fund      3,451 
  *Northern Trust Collective ACWI ex-U.S. Index Fund      672 
  *Northern Trust Collective Short Term Investment Fund      184 
    PIMCO Total Return Collective Trust Fund      2,060