Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Jan. 31, 2014 | Jun. 30, 2013 | |
Document and Entity Information [Abstract] | ' | ' | ' |
Entity Registrant Name | 'BRISTOL MYERS SQUIBB CO | ' | ' |
Entity Central Index Key | '0000014272 | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 1,650,232,566 | ' |
Entity Public Float | ' | ' | $73,472,457,302 |
Document Type | '10-K | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Amendment Flag | 'false | ' | ' |
CONSOLIDATED_STATEMENTS_OF_EAR
CONSOLIDATED STATEMENTS OF EARNINGS (USD $) | 12 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Statement [Abstract] | ' | ' | ' |
Net product sales | $12,304 | $13,654 | $17,622 |
Alliance and other revenues | 4,081 | 3,967 | 3,622 |
Total Revenues | 16,385 | 17,621 | 21,244 |
Cost of products sold | 4,619 | 4,610 | 5,598 |
Marketing, sellings and administrative | 4,084 | 4,220 | 4,203 |
Advertising and product promotion | 855 | 797 | 957 |
Research and development | 3,731 | 3,904 | 3,839 |
Impairment charge for BMS-986094 intangible asset | ' | 1,830 | ' |
Other (income)/expense | 205 | -80 | -334 |
Total Expenses | 13,494 | 15,281 | 14,263 |
Earnings Before Income Taxes | 2,891 | 2,340 | 6,981 |
Provision for/(Benefit from) Income Taxes | 311 | -161 | 1,721 |
Net Earnings | 2,580 | 2,501 | 5,260 |
Net Earnings Attributable to Noncontrolling Interest | 17 | 541 | 1,551 |
Net Earnings Attributable to BMS | $2,563 | $1,960 | $3,709 |
Earnings per Common Share | ' | ' | ' |
Basic Earnings Per Common Share Attributable to BMS | $1.56 | $1.17 | $2.18 |
Diluted Earnings per Common Share Attributable to BMS | $1.54 | $1.16 | $2.16 |
Cash dividends declared per common share | $1.41 | $1.37 | $1.33 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract] | ' | ' | ' |
Net Earnings | $2,580 | $2,501 | $5,260 |
Other Comprehensive Income (Loss), net of taxes and reclassifications to earnings [Abstract] | ' | ' | ' |
Derivatives qualifying as cash flow hedges | 7 | -27 | 56 |
Pension and postretirement benefits | 1,166 | -118 | -742 |
Available for sale securities | -37 | 3 | 28 |
Foreign currency translation | -75 | -15 | -16 |
Total Other Comprehensive Income/(Loss) | 1,061 | -157 | -674 |
Comprehensive Income | 3,641 | 2,344 | 4,586 |
Comprehensive Income Attributable to Noncontrolling Interest | 17 | 535 | 1,558 |
Comprehensive Income Attributable to BMS | $3,624 | $1,809 | $3,028 |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Current Assets: | ' | ' |
Cash and cash equivalents | $3,586 | $1,656 |
Marketable securities, current | 939 | 1,173 |
Receivables | 3,360 | 3,083 |
Inventories | 1,498 | 1,657 |
Deferred income taxes, current | 1,701 | 1,597 |
Prepaid expenses and other | 412 | 355 |
Assets held-for-sale | 7,420 | ' |
Total Current Assets | 18,916 | 9,521 |
Property, plant and equipment | 4,579 | 5,333 |
Goodwill | 7,096 | 7,635 |
Other intangible assets | 2,318 | 8,778 |
Deferred income taxes | 508 | 203 |
Marketable securities, noncurrent | 3,747 | 3,523 |
Other assets | 1,428 | 904 |
Total Assets | 38,592 | 35,897 |
Current Liabilities: | ' | ' |
Short-term borrowings and current portion of long-term debt | 359 | 826 |
Accounts payable | 2,559 | 2,202 |
Accrued expenses | 2,152 | 2,573 |
Deferred income, current | 756 | 825 |
Accrued rebates and returns | 889 | 1,054 |
Income taxes payable, current | 160 | 193 |
Dividends payable | 634 | 606 |
Liabilities related to assets held-for-sale | 4,931 | ' |
Total Current Liabilities | 12,440 | 8,279 |
Pension, postretirement, and postemployment liabilities | 718 | 1,882 |
Deferred income, noncurrent | 769 | 4,024 |
Income taxes payable, noncurrent | 750 | 648 |
Deferred income taxes | 73 | 383 |
Other liabilities | 625 | 475 |
Long-term debt | 7,981 | 6,568 |
Total Liabilities | 23,356 | 22,259 |
Commitments and contingencies (Note 22) | ' | ' |
Bristol-Myers Squibb Company Shareholders' Equity: | ' | ' |
Preferred stock, $2 convertible series, par value $1 per share: Authorized 10 million shares; issued and outstanding 4,369 in 2013 and 5,117 in 2012, liquidation value of $50 per share | 0 | 0 |
Common stock, par value of $0.10 per share: Authorized 4.5 billion shares; 2.2 billion issued in both 2013 and 2012 | 221 | 221 |
Capital in excess of par value of stock | 1,922 | 2,694 |
Accumulated other comprehensive loss | -2,141 | -3,202 |
Retained earnings | 32,952 | 32,733 |
Less cost of treasury stock - 559 million common shares in 2013 and 570 million in 2012 | -17,800 | -18,823 |
Total Bristol-Myers Squibb Company Shareholders' Equity | 15,154 | 13,623 |
Noncontrolling interest | 82 | 15 |
Total Equity | 15,236 | 13,638 |
Total Liabilities and Equity | $38,592 | $35,897 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Statement of Financial Position [Abstract] | ' | ' |
Preferred Stock, Par or Stated Value Per Share | $1 | ' |
Preferred Stock, Shares Authorized | 10,000,000 | ' |
Preferred Stock, Shares Issued | 4,369 | 5,117 |
Preferred Stock, Shares Outstanding | 4,369 | 5,117 |
Preferred Stock, Liquidation Preference Per Share | $50 | ' |
Common Stock, Par or Stated Value Per Share | $0.10 | ' |
Common Stock, Shares Authorized | 4,500,000,000 | ' |
Common Stock, Shares, Issued | 2,200,000,000 | 2,200,000,000 |
Treasury Stock, Shares | 559,000,000 | 570,000,000 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash Flows From Operating Activities: | ' | ' | ' |
Net Earnings | $2,580 | $2,501 | $5,260 |
Adjustments to reconcile net earnings to net cash provided by operating activities: | ' | ' | ' |
Net earnings attributable to noncontrolling interest | -17 | -541 | -1,551 |
Depreciation and amortization | 763 | 681 | 628 |
Deferred income taxes | -491 | -1,230 | 415 |
Stock-based compensation | 191 | 154 | 161 |
Impairment charges | 40 | 2,180 | 28 |
Proceeds from Amylin diabetes alliance | ' | 3,570 | ' |
Other adjustments | -9 | -35 | -147 |
Changes in operating assets and liabilities: | ' | ' | ' |
Receivables | -504 | 648 | -220 |
Inventories | -45 | -103 | -193 |
Accounts payable | 412 | -232 | 593 |
Other deferred income | 965 | 295 | 58 |
Income taxes payable | 126 | -50 | -134 |
Other | -466 | -897 | -58 |
Net Cash Provided by Operating Activities | 3,545 | 6,941 | 4,840 |
Cash Flows From Investing Activities: | ' | ' | ' |
Proceeds from sale and maturities of marketable securities | 1,815 | 4,890 | 5,960 |
Purchases of marketable securities | -1,859 | -3,607 | -6,819 |
Additions to property, plant and equipment and capitalized software | -537 | -548 | -367 |
Proceeds from sale of businesses and other investing activities | 9 | 68 | 149 |
Purchase of businesses, net of cash acquired | ' | -7,530 | -360 |
Net Cash Used in Investing Activities | -572 | -6,727 | -1,437 |
Cash Flows From Financing Activities: | ' | ' | ' |
Short-term debt borrowings/(repayments) | 198 | 49 | -1 |
Proceeds from issuance of long-term debt | 1,489 | 1,950 | ' |
Repayments of long-term debt | -597 | -2,108 | -78 |
Interest rate swap terminations | 20 | 2 | 296 |
Issuances of common stock | 564 | 463 | 601 |
Repurchases of common stock | -433 | -2,403 | -1,221 |
Dividends | -2,309 | -2,286 | -2,254 |
Net Cash Used in Financing Activities | -1,068 | -4,333 | -2,657 |
Effect of Exchange Rates on Cash and Cash Equivalents | 25 | -1 | -3 |
Increase/(Decrease) in Cash and Cash Equivalents | 1,930 | -4,120 | 743 |
Cash and Cash Equivalents at Beginning of Period | 1,656 | 5,776 | 5,033 |
Cash and Cash Equivalents at End of Period | $3,586 | $1,656 | $5,776 |
ACCOUNTING_POLICIES
ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | ' |
ACCOUNTING POLICIES | |
Basis of Consolidation | |
The consolidated financial statements are prepared in conformity with United States (U.S.) generally accepted accounting principles (GAAP), including the accounts of Bristol-Myers Squibb Company (which may be referred to as Bristol-Myers Squibb, BMS, or the Company) and all of its controlled majority-owned subsidiaries. All intercompany balances and transactions are eliminated. Material subsequent events are evaluated and disclosed through the report issuance date. | |
Alliance and license arrangements are assessed to determine whether the terms provide economic or other control over the entity requiring consolidation of an entity. Entities controlled by means other than a majority voting interest are referred to as variable interest entities. There were no arrangements with material variable interest entities during any of the periods presented. | |
Use of Estimates | |
The preparation of financial statements requires the use of management estimates and assumptions. The most significant assumptions are estimates in determining the fair value and potential impairment of intangible assets; sales rebate and return accruals; legal contingencies; income taxes; and pension and postretirement benefits. Actual results may differ from estimated results. | |
Reclassifications | |
Certain prior period amounts were reclassified to conform to the current period presentation. Net product sales and alliance and other revenues previously presented in the aggregate as net sales in the consolidated statements of earnings are now presented separately. | |
Revenue Recognition | |
Revenue is recognized when persuasive evidence of an arrangement exists, the sales price is fixed and determinable, collectability is reasonably assured and title and substantially all risks and rewards of ownership is transferred, generally at time of shipment (including the supply of commercial products to alliance partners when they are the principal in the end customer sale). However, certain revenue of non-U.S. businesses is recognized on the date of receipt by the customer and alliance and other revenue related to Abilify* and Atripla* is not recognized until the products are sold to the end customer by the alliance partner. Royalties based on third party sales are recognized as earned in accordance with the contract terms when the third party sales are reliably measurable and collectability is reasonably assured. Refer to “—Note 3. Alliances” for further detail regarding alliances. | |
Provisions are made at the time of revenue recognition for expected sales returns, discounts, rebates and estimated sales allowances based on historical experience updated for changes in facts and circumstances including the impact of applicable healthcare legislation. Such provisions are recognized as a reduction of revenue.When a new product is not an extension of an existing line of product or there is no historical experience with products in a similar therapeutic category, revenue is deferred until the right of return no longer exists or sufficient historical experience to estimate sales returns is developed. | |
Income Taxes | |
The provision for income taxes includes income taxes paid or payable for the current year plus the change in deferred taxes during the year. Deferred taxes result from differences between the financial and tax basis of assets and liabilities and are adjusted for changes in tax rates and tax laws when changes are enacted. Valuation allowances are recognized to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized. The assessment of whether or not a valuation allowance is required often requires significant judgment including the long-range forecast of future taxable income and the evaluation of tax planning initiatives. Adjustments to the deferred tax valuation allowances are made to earnings in the period when such assessments are made. | |
Tax benefits are recognized from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. The tax benefit recognized in the financial statements for a particular tax position is based on the largest benefit that is more likely than not to be realized upon settlement. | |
Cash and Cash Equivalents | |
Cash and cash equivalents include U.S. Treasury securities, government agency securities, bank deposits, time deposits and money market funds. Cash equivalents consist of highly liquid investments with original maturities of three months or less at the time of purchase and are recognized at cost, which approximates fair value. | |
Marketable Securities and Investments in Other Companies | |
Marketable securities are classified as “available-for-sale” on the date of purchase and reported at fair value. Fair value is determined based on observable market quotes or valuation models using assessments of counterparty credit worthiness, credit default risk or underlying security and overall capital market liquidity. | |
Investments in 50% or less owned companies are accounted for using the equity method of accounting when the ability to exercise significant influence is maintained. The share of net income or losses of equity investments is included in equity in net income of affiliates in other (income)/expense. Equity investments are reviewed for impairment by assessing if the decline in market value of the investment below the carrying value is other than temporary, which considers the intent and ability to retain the investment, the length of time and extent that the market value has been less than cost, and the financial condition of the investee. | |
Inventory Valuation | |
Inventories are stated at the lower of average cost or market. | |
Property, Plant and Equipment and Depreciation | |
Expenditures for additions, renewals and improvements are capitalized at cost. Depreciation is computed on a straight-line method based on the estimated useful lives of the related assets ranging from 20 to 50 years for buildings and 3 to 20 years for machinery, equipment, and fixtures. | |
Impairment of Long-Lived Assets | |
Current facts or circumstances are periodically evaluated to determine if the carrying value of depreciable assets to be held and used may not be recoverable. If such circumstances exist, an estimate of undiscounted future cash flows generated by the long-lived asset, or the appropriate grouping of assets, is compared to the carrying value to determine whether an impairment exists at its lowest level of identifiable cash flows. If an asset is determined to be impaired, the loss is measured based on the difference between the asset’s fair value and its carrying value. An estimate of the asset’s fair value is based on quoted market prices in active markets, if available. If quoted market prices are not available, the estimate of fair value is based on various valuation techniques using Level 3 fair value inputs, including a discounted value of estimated future cash flows. | |
Capitalized Software | |
Eligible costs to obtain internal use software for significant systems projects are capitalized and amortized over the estimated useful life of the software. Insignificant costs to obtain software for projects are expensed as incurred. | |
Business Combinations | |
Businesses acquired are consolidated upon obtaining control of the acquiree. The fair value of assets acquired and liabilities assumed are recognized at the date of acquisition. Any excess of the purchase price over the estimated fair values of the net assets acquired is recognized as goodwill. Legal, audit, business valuation, and all other business acquisition costs are expensed when incurred. | |
Goodwill, Acquired In-Process Research and Development and Other Intangible Assets | |
The fair value of intangible assets is typically determined using the “income method” which utilizes Level 3 fair value inputs. The market participant valuations assume a global view considering all potential jurisdictions and indications based on discounted after-tax cash flow projections, risk adjusted for estimated probability of technical and regulatory success (for IPRD). | |
Finite-lived intangible assets, including licenses, developed technology rights and IPRD projects that reach commercialization are amortized on a straight-line basis over their estimated useful life. Estimated useful lives are determined considering the period in which the assets are expected to contribute to future cash flows. | |
Goodwill is tested at least annually for impairment by assessing qualitative factors or performing a quantitative analysis in determining whether it is more likely than not that the fair value of net assets are below their carrying amounts. Examples of qualitative factors assessed in 2013 include our share price, our financial performance compared to budgets, long-term financial plans, macroeconomic, industry and market conditions as well as the substantial excess of fair value over the carrying value of net assets from the annual impairment test performed in the prior year. Each relevant factor is assessed both individually and in the aggregate. | |
IPRD is tested for impairment on an annual basis and more frequently if events occur or circumstances change that would indicate a potential reduction in the fair values of the assets below their carrying value. If the carrying value of IPRD is determined to exceed the fair value, an impairment loss is recognized for the difference. | |
Finite-lived intangible assets are tested for impairment when facts or circumstances suggest that the carrying value of the asset may not be recoverable. If the carrying value exceeds the projected undiscounted pre-tax cash flows of the intangible asset, an impairment loss equal to the excess of the carrying value over the estimated fair value (discounted after-tax cash flows) is recognized. | |
Restructuring | |
Restructuring charges are recognized as a result of actions to streamline operations and rationalize manufacturing facilities. Judgment is used when estimating the impact of restructuring plans, including future termination benefits and other exit costs to be incurred when the actions take place. Actual results could vary from these estimates. | |
Contingencies | |
Loss contingencies from legal proceedings and claims may occur from a wide range of matters, including government investigations, shareholder lawsuits, product and environmental liability, contractual claims and tax matters. Accruals are recognized when it is probable that a liability will be incurred and the amount of loss can be reasonably estimated. Gain contingencies (including contingent proceeds related to the divestitures) are not recognized until realized. Legal fees are expensed as incurred. | |
Derivative Financial Instruments | |
Derivatives are used principally in the management of interest rate and foreign currency exposures and are not held or used for trading purposes. | |
Derivatives are recognized at fair value with changes in fair value recognized in earnings unless specific hedge criteria are met. If the derivative is designated as a fair value hedge, changes in fair value of the derivative and of the hedged item attributable to the hedged risk are recognized in earnings. If the derivative is designated as a cash flow hedge, the effective portions of changes in the fair value of the derivative are reported in accumulated other comprehensive income/(loss) (OCI) and subsequently recognized in earnings when the hedged item affects earnings. Cash flows are classified consistent with the underlying hedged item. Derivatives are designated and assigned as hedges of forecasted transactions, specific assets or specific liabilities. When hedged assets or liabilities are sold or extinguished or the forecasted transactions being hedged are no longer probable to occur, a gain or loss is immediately recognized in earnings. Non-derivative instruments, primarily euro denominated long-term debt, are also designated as hedges of net investments in foreign affiliates. The effective portion of the designated non-derivative instrument is recognized in the foreign currency translation section of OCI and the ineffective portion is recognized in earnings. | |
Shipping and Handling Costs | |
Shipping and handling costs are included in marketing, selling and administrative expenses and were $119 million in 2013, $125 million in 2012 and $139 million in 2011. | |
Advertising and Product Promotion Costs | |
Advertising and product promotion costs are expensed as incurred. | |
Foreign Currency Translation | |
Foreign subsidiary earnings are translated into U.S. dollars using average exchange rates. The net assets of foreign subsidiaries are translated into U.S. dollars using current exchange rates. The U.S. dollar effects that arise from translating the net assets of these subsidiaries at changing rates are recognized in OCI. | |
Research and Development | |
Research and development costs are expensed as incurred. Clinical study costs are accrued over the service periods specified in the contracts and adjusted as necessary based upon an ongoing review of the level of effort and costs actually incurred. Strategic alliances with third parties provide rights to develop, manufacture, market and/or sell pharmaceutical products, the rights to which are owned by the other party. Research and development is recognized net of reimbursements in connection with alliance agreements. | |
Recently Issued Accounting Standards | |
In July 2013, the Financial Accounting Standards Board issued an update that clarified existing guidance on the presentation of unrecognized tax benefits when various qualifying tax benefit carryforwards exist, including when the unrecognized tax benefit should be presented as a reduction to deferred tax assets or as a liability. This update is required to be adopted for all annual periods and interim reporting periods beginning after December 15, 2013, with early adoption permitted. The reduction to deferred tax assets is expected to be approximately $250 million. |
BUSINESS_SEGMENT_INFORMATION
BUSINESS SEGMENT INFORMATION | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||
Segment Reporting Disclosure [Text Block] | ' | ||||||||||||||||||||
Note 2. BUSINESS SEGMENT INFORMATION | |||||||||||||||||||||
BMS operates in a single segment engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of innovative medicines that help patients prevail over serious diseases. A global research and development organization and supply chain organization are responsible for the development and delivery of products to the market. Regional commercial organizations are used to distribute and sell the product. The business is also supported by global corporate staff functions. Segment information is consistent with the financial information regularly reviewed by the chief executive officer for purposes of evaluating performance, allocating resources, setting incentive compensation targets, and planning and forecasting future periods. | |||||||||||||||||||||
Products are sold principally to wholesalers, and to a lesser extent, directly to distributors, retailers, hospitals, clinics, government agencies and pharmacies. Gross revenues to the three largest pharmaceutical wholesalers in the U.S. as a percentage of global gross revenues were as follows: | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
McKesson Corporation | 19 | % | 23 | % | 26 | % | |||||||||||||||
Cardinal Health, Inc. | 14 | % | 19 | % | 21 | % | |||||||||||||||
AmerisourceBergen Corporation | 15 | % | 14 | % | 16 | % | |||||||||||||||
Selected geographic area information was as follows: | |||||||||||||||||||||
Total Revenues | Property, Plant and Equipment | ||||||||||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | 2013 | 2012 | ||||||||||||||||
United States | $ | 8,318 | $ | 10,384 | $ | 14,039 | $ | 3,708 | $ | 4,464 | |||||||||||
Europe | 3,930 | 3,706 | 3,879 | 729 | 740 | ||||||||||||||||
Rest of the World | 3,295 | 3,204 | 3,237 | 142 | 129 | ||||||||||||||||
Other(a) | 842 | 327 | 89 | — | — | ||||||||||||||||
Total | $ | 16,385 | $ | 17,621 | $ | 21,244 | $ | 4,579 | $ | 5,333 | |||||||||||
(a) | Other total revenues include royalties and other alliance-related revenues for products not sold by our regional commercial organizations. | ||||||||||||||||||||
Total revenues of key products were as follows: | |||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||||||||||
Virology | |||||||||||||||||||||
Baraclude (entecavir) | $ | 1,527 | $ | 1,388 | $ | 1,196 | |||||||||||||||
Reyataz (atazanavir sulfate) | 1,551 | 1,521 | 1,569 | ||||||||||||||||||
Sustiva (efavirenz) Franchise(a) | 1,614 | 1,527 | 1,485 | ||||||||||||||||||
Oncology | |||||||||||||||||||||
Erbitux* (cetuximab) | 696 | 702 | 691 | ||||||||||||||||||
Sprycel (dasatinib) | 1,280 | 1,019 | 803 | ||||||||||||||||||
Yervoy (ipilimumab) | 960 | 706 | 360 | ||||||||||||||||||
Neuroscience | |||||||||||||||||||||
Abilify* (aripiprazole)(b) | 2,289 | 2,827 | 2,758 | ||||||||||||||||||
Metabolics | |||||||||||||||||||||
Bydureon* (exenatide extended-release for injectable suspension) | 298 | 78 | N/A | ||||||||||||||||||
Byetta* (exenatide) | 400 | 149 | N/A | ||||||||||||||||||
Forxiga (dapagliflozin) | 23 | — | N/A | ||||||||||||||||||
Onglyza/Kombiglyze (saxagliptin/saxagliptin and metformin) | 877 | 709 | 473 | ||||||||||||||||||
Immunoscience | |||||||||||||||||||||
Nulojix (belatacept) | 26 | 11 | 3 | ||||||||||||||||||
Orencia (abatacept) | 1,444 | 1,176 | 917 | ||||||||||||||||||
Cardiovascular | |||||||||||||||||||||
Avapro*/Avalide* (irbesartan/irbesartan-hydrochlorothiazide) | 231 | 503 | 952 | ||||||||||||||||||
Eliquis (apixaban) | 146 | 2 | — | ||||||||||||||||||
Plavix* (clopidogrel bisulfate) | 258 | 2,547 | 7,087 | ||||||||||||||||||
Mature Products and All Other | 2,765 | 2,756 | 2,950 | ||||||||||||||||||
Total Revenues | $ | 16,385 | $ | 17,621 | $ | 21,244 | |||||||||||||||
(a) | Includes $1,366 million in 2013, $1,267 million in 2012 and $1,203 million in 2011 presented in alliance and other revenue. | ||||||||||||||||||||
(b) | Includes $1,840 million in 2013, $2,340 million in 2012 and $2,303 million in 2011 presented in alliance and other revenue. |
ALLIANCES
ALLIANCES | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ||||||||||||
Alliances[Text Block] | ' | ||||||||||||
Note 3. ALLIANCES | |||||||||||||
BMS enters into collaboration arrangements with third parties for the development and commercialization of certain products. Although each of these arrangements is unique in nature, both parties are active participants in the operating activities of the collaboration and exposed to significant risks and rewards depending on the commercial success of the activities. BMS may either in-license intellectual property owned by the other party or out-license its intellectual property to the other party. These arrangements also typically include research, development, manufacturing, and/or commercial activities and can cover a single investigational compound or commercial product or multiple compounds and/or products in various life cycle stages. We refer to these collaborations as alliances and our partners as alliance partners. | |||||||||||||
Payments between alliance partners are accounted for and presented in the results of operations after considering the specific nature of the payment and the underlying activities to which the payments relate. Multiple alliance activities, including the transfer of rights, are only separated into individual units of accounting if they have standalone value from other activities that occur over the life of the arrangements. In these situations, the arrangement consideration is allocated to the activities or rights on a relative selling price basis. If multiple alliance activities or rights do not have standalone value, they are combined into a single unit of accounting. | |||||||||||||
The most common activities between BMS and its alliance partners are presented in results of operations as follows: | |||||||||||||
• | When BMS is the principal in the end customer sale, 100% of third-party product sales are included in net product sales. When BMS's alliance partner is the principal in the end customer sale, BMS's contractual share of the third-party sales and/or royalty income are included in alliance and other revenue as the sale of commercial products are considered part of BMS's ongoing major or central operations. Refer to "Revenue Recognition" included in "—Note 1. Accounting Policies" for information regarding recognition criteria. | ||||||||||||
• | Amounts payable to BMS by alliance partners (who are the principal in the end customer sale) for supply of commercial products are included in alliance and other revenue as the sale of commercial products are considered part of BMS's ongoing major or central operations. | ||||||||||||
• | Amounts payable by BMS to alliance partners for profit sharing, royalties and other sales-based fees are included in cost of products sold as incurred. | ||||||||||||
• | Cost reimbursements between the parties are recognized as incurred and included in cost of products sold; marketing, selling and administrative expenses; advertising and product promotion expenses; or research and development expenses, based on the underlying nature of the related activities subject to reimbursement. | ||||||||||||
• | Upfront and contingent development and approval milestones payable to BMS by alliance partners for investigational compounds and commercial products are deferred and amortized over the shorter of the contractual term or the periods in which the related compounds or products are expected to contribute to future cash flows. The amortization is presented consistent with the nature of the payment under the arrangement. For example, amounts received for investigational compounds are presented in other (income)/expense as the activities being performed at that time are not related to the sale of commercial products that are part of BMS’s ongoing major or central operations; amounts received for commercial products are presented in alliance and other revenue as the sale of commercial products are considered part of BMS’s ongoing major or central operations (except for the AstraZeneca PLC (AstraZeneca) alliance pertaining to the Amylin products – see further discussion under the specific AstraZeneca alliance disclosure herein). | ||||||||||||
• | Upfront and contingent approval milestones payable by BMS to alliance partners for commercial products are capitalized and amortized over the shorter of the contractual term or the periods in which the related products are expected to contribute to future cash flows. The amortization is included in cost of products sold. | ||||||||||||
• | Upfront and contingent milestones payable by BMS to alliance partners prior to regulatory approval are expensed as incurred and included in research and development expenses. | ||||||||||||
• | Equity in net income of affiliates is included in other (income)/expense. | ||||||||||||
• | All payments between BMS and its alliance partners are presented in cash flows from operating activities. | ||||||||||||
Selected financial information pertaining to our alliances was as follows, including net product sales when BMS is the principal in the third-party customer sale for products subject to the alliance. Expenses summarized below do not include all amounts attributed to the activities for the products in the alliance, but only the payments between the alliance partners or the related amortization if the payments were deferred or capitalized. | |||||||||||||
Year Ended December 31, | |||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||
Revenues from alliances: | |||||||||||||
Net product sales | $ | 4,417 | $ | 6,124 | $ | 10,460 | |||||||
Alliance and other revenues | 3,804 | 3,748 | 3,548 | ||||||||||
Total Revenues | 8,221 | 9,872 | 14,008 | ||||||||||
Payments to/(from) alliance partners: | |||||||||||||
Cost of products sold | $ | 1,356 | $ | 1,706 | $ | 2,823 | |||||||
Marketing, selling and administrative | (125 | ) | (80 | ) | (9 | ) | |||||||
Advertising and product promotion | (58 | ) | (97 | ) | (86 | ) | |||||||
Research and development | (140 | ) | 4 | 89 | |||||||||
Other (income)/expense | (313 | ) | (489 | ) | (317 | ) | |||||||
Net earnings attributable to noncontrolling interest, pre-tax | 36 | 844 | 2,323 | ||||||||||
Selected Alliance Balance Sheet Information: | December 31, | ||||||||||||
Dollars in Millions | 2013 | 2012 | |||||||||||
Receivables – from alliance partners | $ | 1,122 | $ | 857 | |||||||||
Accounts payable – to alliance partners | 1,396 | 1,052 | |||||||||||
Deferred income from alliances(a) | 5,089 | 4,647 | |||||||||||
(a) | Includes deferred income classified as liabilities related to assets held-for-sale of $3,671 million at December 31, 2013. | ||||||||||||
Specific information pertaining to each of our significant alliances is discussed below, including their nature and purpose; the significant rights and obligations of the parties; specific accounting policy elections; and the income statement classification of and amounts attributable to payments between the parties. | |||||||||||||
Otsuka | |||||||||||||
BMS has a worldwide commercialization agreement with Otsuka Pharmaceutical Co., Ltd. (Otsuka), to codevelop and copromote Abilify*, excluding certain Asian countries. The U.S. portion of the agreement was amended in 2009 and 2012 and expires upon the expected loss of product exclusivity in April 2015. The agreement expires in all European Union (EU) countries in June 2014 and in each other non-U.S. country where we have the exclusive right to sell Abilify*, the agreement expires on the later of April 2015 or loss of exclusivity in any such country. | |||||||||||||
Both parties actively participate in joint executive governance and operating committees. Although Otsuka assumed responsibility for providing and funding all sales force efforts effective January 2013 (under the 2012 U.S. amendment), BMS is responsible for funding certain operating expenses up to various annual limits in 2013 through 2015. BMS purchases the active pharmaceutical ingredient (API) from Otsuka and completes the manufacture of the product for subsequent sale to third-party customers in the U.S. and certain other countries. Otsuka assumed responsibility for providing and funding sales force efforts in the EU effective April 2013. BMS also provides certain other services including distribution, customer management and pharmacovigilence. Otsuka is the principal for third-party product sales in the U.S., United Kingdom (UK), Germany, France, Spain and Italy (beginning March 1, 2013) and BMS is the principal for third-party product sales when it is the exclusive distributor for or has an exclusive right to sell Abilify* which is in the remaining territories. | |||||||||||||
Alliance and other revenue is recognized for only BMS’s share of total net sales to third-party customers in these territories. In the U.S., BMS’s contractual share was 51.5% in 2012 and 53.5% in 2011. Beginning January 1, 2013, BMS’s contractual share changed to the percentages of total U.S. net sales set forth in the table below. An assessment of BMS's expected annual contractual share is completed each quarterly reporting period and adjusted based upon reported U.S. Abilify* net sales at December 31, 2013. BMS's annual contractual share was 34.0% in 2013. The alliance and other revenue recognized in any interim period or quarter does not exceed the amounts that are due under the contract. | |||||||||||||
Annual U.S. Net Sales | BMS Share as a % of U.S. Net Sales | ||||||||||||
$0 to $2.7 billion | 50% | ||||||||||||
$2.7 billion to $3.2 billion | 20% | ||||||||||||
$3.2 billion to $3.7 billion | 7% | ||||||||||||
$3.7 billion to $4.0 billion | 2% | ||||||||||||
$4.0 billion to $4.2 billion | 1% | ||||||||||||
In excess of $4.2 billion | 20% | ||||||||||||
In the United Kingdom, Germany, France, Spain, and Italy (beginning on March 1, 2013), BMS’s contractual share of third-party net sales is 65%. In these countries and the U.S., alliance and other revenue is recognized when Abilify* is shipped and all risks and rewards of ownership have been transferred to third-party customers. | |||||||||||||
Under the terms of the 2009 U.S. amendment, BMS paid Otsuka $400 million in 2009, which is amortized as a reduction of alliance and other revenue through the expected loss of U.S. exclusivity in April 2015. The unamortized balance is included in other assets. Otsuka receives a royalty based on 1.5% of total U.S. net sales, which is included in cost of products sold. Otsuka was responsible for 30% of the U.S. expenses related to the commercialization of Abilify* from 2010 through 2012. | |||||||||||||
BMS and Otsuka also have an alliance for Sprycel and Ixempra (ixabepilone) in the U.S., Japan and the EU. While both parties actively participate in various governance committees, BMS has control over the decision making. Both parties co-promote the product. BMS is responsible for the development and manufacture of the product. BMS is also the principal in the end-customer product sales. | |||||||||||||
A fee is paid to Otsuka based on the following percentages of annual net sales of Sprycel and Ixempra: | |||||||||||||
% of Net Sales | |||||||||||||
2010 - 2012 | 2013 - 2020 | ||||||||||||
$0 to $400 million | 30% | 65% | |||||||||||
$400 million to $600 million | 5% | 12% | |||||||||||
$600 million to $800 million | 3% | 3% | |||||||||||
$800 million to $1.0 billion | 2% | 2% | |||||||||||
In excess of $1.0 billion | 1% | 1% | |||||||||||
During these annual periods, Otsuka contributes 20% of the first $175 million of certain commercial operational expenses relating to the Oncology Products in the Oncology Territory and 1% of such costs in excess of $175 million. | |||||||||||||
The U.S. extension and the oncology alliance include a change-of-control provision in the case of an acquisition of BMS. If the acquiring company does not have a competing product to Abilify*, then the new company will assume the Abilify* agreement (as amended) and the oncology alliance as it exists today. If the acquiring company has a product that competes with Abilify*, Otsuka can elect to request the acquiring company to choose whether to divest Abilify* or the competing product. In the scenario where Abilify* is divested, Otsuka would be obligated to acquire the rights of BMS under the Abilify* agreement (as amended). The agreements also provide that in the event of a generic competitor to Abilify* after January 1, 2010, BMS has the option of terminating the Abilify* April 2009 amendment (with the agreement as previously amended remaining in force). If BMS were to exercise such option then either (i) BMS would receive a payment from Otsuka according to a pre-determined schedule and the oncology alliance would terminate at the same time or (ii) the oncology alliance would continue for a truncated period according to a pre-determined schedule. | |||||||||||||
Summarized financial information related to this alliance was as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||
Revenues from Otsuka alliances: | |||||||||||||
Net product sales | $ | 1,543 | $ | 1,386 | $ | 1,181 | |||||||
Alliance and other revenues(a) | 1,840 | 2,340 | 2,303 | ||||||||||
Total Revenues | 3,383 | 3,726 | 3,484 | ||||||||||
Payments to/(from) Otsuka: | |||||||||||||
Cost of products sold: | |||||||||||||
Oncology fee | 295 | 138 | 134 | ||||||||||
Royalties | 86 | 78 | 72 | ||||||||||
Amortization of intangible assets | — | 5 | 6 | ||||||||||
Cost of product supply | 135 | 153 | 145 | ||||||||||
Cost reimbursements to/(from) Otsuka | (10 | ) | (47 | ) | (45 | ) | |||||||
Selected Alliance Balance Sheet information: | December 31, | ||||||||||||
Dollars in Millions | 2013 | 2012 | |||||||||||
Other assets – extension payment | $ | 87 | $ | 153 | |||||||||
(a) | Includes the amortization of the extension payment as a reduction to alliance and other revenue of $66 million in 2013, 2012 and 2011. | ||||||||||||
AstraZeneca | |||||||||||||
BMS and AstraZeneca had a diabetes alliance consisting of three worldwide codevelopment and commercialization agreements. The first agreement covered Onglyza and related combination products sold under various names. The second agreement covered Forxiga (will be commercialized as Farxiga in the U.S.) and related combination products. The third agreement covered Amylin's portfolio of products (Bydureon*, Byetta*, Symlin* (pramlintide acetate) and metreleptin, which is currently in development) as well as certain assets owned by Amylin, included a manufacturing facility. The Onglyza agreement excluded Japan. | |||||||||||||
Upon entering into each of the separate agreements, co-exclusive license rights for the product or products underlying each agreement were granted to AstraZeneca in exchange for an upfront payment and potential milestone payments, and both parties assumed certain obligations to actively participate in the alliance. Both parties actively participated in a joint executive committee and various other operating committees and had joint responsibilities for the research, development, distribution, sales and marketing activities of the alliance using resources in their own infrastructures. BMS manufactured the products in all three alliances and was the principal in the end-customer product sales in substantially all countries. | |||||||||||||
For each alliance agreement, we have determined that the rights transferred to AstraZeneca did not have standalone value as such rights were not sold separately by BMS or any other party, nor could AstraZeneca have received any benefit for the delivered rights without the fulfillment of other ongoing obligations by BMS under the alliance agreements, including the exclusive supply arrangement. As such, each global alliance was treated as a single unit of accounting. As a result, up-front proceeds and any subsequent contingent milestone proceeds were amortized over the life of the related products. | |||||||||||||
In 2012, BMS received a $3.6 billion non-refundable, upfront payment from AstraZeneca in consideration for entering into the Amylin alliance. In 2013, AstraZeneca exercised its option for equal governance rights over certain key strategic and financial decisions regarding the Amylin alliance and paid BMS $135 million as consideration. These payments were accounted for as deferred income and amortized based on the relative fair value of the predominant elements included in the alliance over their estimated useful lives (intangible assets related to Bydureon* with an estimated useful life of 13 years, Byetta* with an estimated useful life of 7 years, Symlin* with an estimated life of 9 years, metreleptin with an estimated useful life of 12 years, and the Amylin manufacturing plant with an estimated useful life of 15 years). The amortization was presented as a reduction to cost of products sold because the alliance assets were acquired shortly before the commencement of the alliance and AstraZeneca was entitled to share in the proceeds from the sale of any of the assets. The amortization of the acquired Amylin intangible assets and manufacturing plant was also presented in cost of products sold. BMS was entitled to reimbursements for 50% of capital expenditures related to the acquired Amylin manufacturing facility. BMS and AstraZeneca also shared in certain tax attributes related to the Amylin alliance. | |||||||||||||
BMS received $300 million in non-refundable upfront, milestone and other licensing payments related to Onglyza to date. BMS also received $250 million in non-refundable upfront, milestone and other licensing payments related to Forxiga to date. Amortization of the Onglyza and Forxiga deferred income was included in other income as Onglyza and Forxiga were not commercial products at the commencement of the alliance. | |||||||||||||
Both parties equally shared most commercialization and development expenses, as well as profits and losses. | |||||||||||||
Summarized financial information related to the AstraZeneca alliances was as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||
Revenues from AstraZeneca alliances: | |||||||||||||
Net product sales | $ | 1,658 | $ | 962 | $ | 472 | |||||||
Alliance and other revenues | 16 | 10 | 1 | ||||||||||
Total Revenues | $ | 1,674 | $ | 972 | $ | 473 | |||||||
Payments to/(from) AstraZeneca: | |||||||||||||
Cost of products sold: | |||||||||||||
Profit sharing | 673 | 425 | 207 | ||||||||||
Amortization of deferred income | (307 | ) | (126 | ) | — | ||||||||
Cost reimbursements to/(from) AstraZeneca recognized in: | |||||||||||||
Cost of products sold | (25 | ) | (4 | ) | — | ||||||||
Marketing, selling and administrative | (127 | ) | (66 | ) | (14 | ) | |||||||
Advertising and product promotion | (45 | ) | (43 | ) | (21 | ) | |||||||
Research and development | (86 | ) | (25 | ) | 35 | ||||||||
Other (income)/expense: | |||||||||||||
Amortization of deferred income | (31 | ) | (38 | ) | (38 | ) | |||||||
Provision for restructuring | (25 | ) | (21 | ) | — | ||||||||
Selected Alliance Cash Flow information: | |||||||||||||
Non-refundable upfront, milestone and other licensing payments received: | |||||||||||||
Amylin-related products | 135 | 3,547 | — | ||||||||||
Forxiga | 80 | — | 120 | ||||||||||
Selected Alliance Balance Sheet information: | December 31, | ||||||||||||
Dollars in Millions | 2013 | 2012 | |||||||||||
Deferred income – Non-refundable upfront, milestone and other licensing receipts(a) | |||||||||||||
Amylin-related products | $ | 3,288 | $ | 3,423 | |||||||||
Onglyza | 191 | 208 | |||||||||||
Forxiga | 192 | 206 | |||||||||||
(a) | Included in liabilities related to assets held-for-sale at December 31, 2013. | ||||||||||||
In February 2014, BMS sold to AstraZeneca the diabetes business of BMS which comprised our global alliance with them, including all rights and ownership to Onglyza, Forxiga, Bydureon*, Byetta*, Symlin* (pramlintide acetate) and metreleptin. The transaction included the shares of Amylin, and the resulting transfer of its manufacturing plant; the intellectual property related to Onglyza and Forxiga and the future purchase of BMS’s manufacturing facility located in Mount Vernon, Indiana no earlier than 18 months following the closing of the transaction. The parties terminated their existing alliance agreements in connection with the sale and entered into several new agreements, including a transitional services agreement, a supply agreement and a development agreement. See “—Note 5. Assets Held-For-Sale” for further information. | |||||||||||||
Gilead | |||||||||||||
BMS and Gilead Sciences, Inc. (Gilead) have joint ventures in the U.S. (for the U.S. and Canada) and in Europe to develop and commercialize Atripla* (efavirenz 600 mg/ emtricitabine 200 mg/ tenofovir disoproxil fumarate 300 mg), combining Sustiva, a product of BMS, and Truvada* (emtricitabine and tenofovir disoproxil fumarate), a product of Gilead. The joint ventures are consolidated by Gilead. | |||||||||||||
Both parties actively participate in a joint executive committee and various other operating committees with direct oversight over the activities of the joint ventures. The joint ventures purchase Sustiva and Truvada* API in bulk form from the parties and complete the finishing of Atripla*. In the U.S. and Canada, the joint venture sells and distributes Atripla* and is the principal in third-party customer sales. In Europe, Gilead and its affiliates sell and distribute Atripla* and are the principal in third-party customer sales. The parties no longer coordinate joint promotional activities. | |||||||||||||
Alliance and other revenue recognized for Atripla* include only the bulk efavirenz component of Atripla* which is based on the relative ratio of the average respective net selling prices of Truvada* and Sustiva. Alliance and other revenue is deferred and the related alliance receivable is not recognized until the combined product is sold to third-party customers. | |||||||||||||
In Europe, following the 2013 loss of exclusivity of Sustiva and effective January 1, 2014, the percentage of Atripla* net sales that BMS will recognize will be based on the ratio of the difference in the average net selling prices of Atripla* and Truvada* to the Atripla* average net selling price. This alliance will continue until either party terminates the arrangement or the last patent expiration occurs for Atripla*, Truvada*, or Sustiva. | |||||||||||||
In the U.S., the agreement may be terminated by Gilead upon the launch of a generic version of Sustiva or by BMS upon the launch of a generic version of Truvada*. In the event Gilead terminates the agreement upon the loss of exclusivity for Sustiva, BMS will receive a quarterly royalty payment for 36 months following termination. Such payment in the first 12 months following termination is equal to 55% of Atripla* net sales multiplied by the ratio of the difference in the average net selling prices of Atripla* and Truvada* to the Atripla* average net selling price. In the second and third years following termination, the payment to BMS is reduced to 35% and 15%, respectively, of Atripla* net sales multiplied by the price ratio described above. BMS will continue to supply Sustiva at cost plus a markup to the joint ventures during this three-year period, unless either party elects to terminate the supply arrangement. | |||||||||||||
Summarized financial information related to this alliance was as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||
Revenues from Gilead alliances: | |||||||||||||
Net product sales | $ | — | $ | — | $ | 1 | |||||||
Alliance and other revenues | 1,366 | 1,267 | 1,203 | ||||||||||
Total Revenues | 1,366 | 1,267 | 1,204 | ||||||||||
Equity in net loss of affiliates | 17 | 18 | 16 | ||||||||||
Selected Alliance Balance Sheet information: | December 31, | ||||||||||||
Dollars in Millions | 2013 | 2012 | |||||||||||
Deferred revenue | $ | 468 | $ | 339 | |||||||||
Lilly | |||||||||||||
BMS has a commercialization agreement with Eli Lilly and Company (Lilly) through Lilly’s November 2008 acquisition of ImClone Systems Incorporated (ImClone) for the codevelopment and promotion of Erbitux* in the U.S. which expires in September 2018. Both parties actively participate in a joint executive committee and various other operating committees and have shared responsibilities for the research and development of the alliance using resources in their own infrastructures. Lilly is responsible for supplying the product to BMS for distribution and sale. BMS is responsible for promotional efforts for the product in North America although Lilly has the right to copromote at their own expense. BMS also has codevelopment and copromotion rights in Canada and Japan. BMS is the principal in third-party customer sales in North America. Under the commercialization agreement, BMS pays Lilly a distribution fee based on a flat rate of 39% of net sales of Erbitux* in North America plus a share of certain royalties paid by Lilly. | |||||||||||||
In Japan, BMS shares rights to Erbitux* under an agreement with Lilly and Merck KGaA and receives 50% of the pre-tax profit from Merck KGaA’s net sales of Erbitux* in Japan which is further shared equally with Lilly. | |||||||||||||
In March 2013,BMS and Lilly terminated its arrangement for necitumumab (IMC-11F8), with all rights returning to Lilly. Discovered by ImClone, necitumumab is a fully human monoclonal antibody that was part of the alliance between BMS and Lilly. | |||||||||||||
BMS is amortizing $500 million of license acquisition costs associated with the Erbitux* alliance agreement through 2018. | |||||||||||||
Summarized financial information related to this alliance was as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||
Revenues from Lilly alliance: | |||||||||||||
Net product sales | $ | 696 | $ | 702 | $ | 691 | |||||||
Payments to/(from) Lilly: | |||||||||||||
Cost of products sold: | |||||||||||||
Distribution fees and royalties | 289 | 291 | 287 | ||||||||||
Amortization of intangible asset | 37 | 38 | 37 | ||||||||||
Cost of product supply | 65 | 81 | 73 | ||||||||||
Cost reimbursements to/(from) Lilly | (13 | ) | 23 | 5 | |||||||||
Other (income)/expense – Japan commercialization fee | (30 | ) | (37 | ) | (34 | ) | |||||||
Selected Alliance Balance Sheet information | December 31, | ||||||||||||
Dollars in Millions | 2013 | 2012 | |||||||||||
Other intangible assets – Non-refundable upfront, milestone and other licensing payments | $ | 174 | $ | 211 | |||||||||
BMS acquired Amylin Pharmaceuticals, Inc. (Amylin) on August 8, 2012 (see “—Note 4. Acquisitions” for further information). Amylin had previously entered into a settlement and termination agreement with Lilly regarding their alliance for the global development and commercialization of Byetta* and Bydureon* (exenatide products) under which the parties agreed to transition full responsibility of these products to Amylin. The transition of the U.S. operations was completed by the time of the acquisition. The transition of non-U.S. operations of the exenatide products in a majority of markets was completed on April 1, 2013 terminating Lilly's exclusive right to non-U.S. commercialization of the exenatide products. Promissory notes assumed in the acquisition of Amylin aggregating $1.4 billion were repaid to Lilly during 2012. | |||||||||||||
Sanofi | |||||||||||||
In September 2012, BMS and Sanofi restructured the terms of the codevelopment and cocommercialization agreements for Plavix* and Avapro*/Avalide*. Effective January 1, 2013, Sanofi assumed essentially all of the worldwide operations of the alliance with the exception of Plavix* in the U.S. and Puerto Rico. The alliance for Plavix* in these markets will continue unchanged through December 2019 under the same terms as in the original alliance arrangements described below. In exchange for the rights being assumed by Sanofi, BMS will receive quarterly royalties from January 1, 2013 until December 31, 2018 and a terminal payment from Sanofi of $200 million at the end of 2018. All ongoing disputes between the companies were resolved including an $80 million payment by BMS to Sanofi related to the Avalide* supply disruption in the U.S. in 2011 (accrued for in 2011). | |||||||||||||
Beginning in 2013, all royalties received from Sanofi in the territory covering the Americas and Australia, opt-out markets, and former development royalties are presented in alliance and other revenues ($220 million). Development and opt-out royalty income of $143 million in 2012 and $126 million in 2011 were included in other (income)/expense. Development royalty expense of $67 million in 2012 and $182 million in 2011 was included in other (income)/expense. Royalties attributed to the territory covering Europe and Asia continue to be earned by the territory partnership and are included in equity in net income of affiliates. Additionally, equity in net income of affiliates in 2013 included $22 million of profit that was deferred prior to the restructuring of the agreement. Alliance and other revenues attributed to the supply of irbesartan API to Sanofi were $116 million in 2013, $117 million in 2012 and $33 million in 2011. The supply arrangement for irbesartan expires in 2015. | |||||||||||||
Prior to the restructuring, BMS’s worldwide alliance with Sanofi for the codevelopment and cocommercialization of Avapro*/Avalide* and Plavix* operated under the framework of two geographic territories: one in the Americas (principally the U.S., Canada, Puerto Rico and Latin American countries) and Australia, and the other in Europe and Asia. These two territory partnerships managed central expenses, such as marketing, research and development and royalties, and supply of finished product to individual countries. BMS acted as the operating partner and owned a 50.1% majority controlling interest in the territory covering the Americas and Australia and consolidates all country partnership results for this territory with Sanofi’s 49.9% share of the results reflected as a noncontrolling interest. BMS also recognized net product sales in comarketing countries outside this territory (e.g. Italy for irbesartan only, Germany, Greece and Spain). Sanofi acted as the operating partner and owned a 50.1% majority controlling interest in the territory covering Europe and Asia and BMS has a 49.9% ownership interest in this territory. | |||||||||||||
Summarized financial information related to this alliance was as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||
Revenues from Sanofi alliances: | |||||||||||||
Net product sales | $ | 153 | $ | 2,930 | $ | 8,003 | |||||||
Alliance and other revenues | 336 | 120 | 37 | ||||||||||
Total Revenues | 489 | 3,050 | 8,040 | ||||||||||
Payments to/(from) Sanofi: | |||||||||||||
Cost of product supply | 4 | 81 | 245 | ||||||||||
Cost of products sold – Royalties | 4 | 530 | 1,583 | ||||||||||
Equity in net income of affiliates | (183 | ) | (201 | ) | (298 | ) | |||||||
Other (income)/expense | (18 | ) | (171 | ) | 72 | ||||||||
Noncontrolling interest – pre-tax | 36 | 844 | 2,323 | ||||||||||
Selected Alliance Cash Flow information: | |||||||||||||
Distributions (to)/from Sanofi - Noncontrolling interest | 43 | (742 | ) | (2,335 | ) | ||||||||
Distributions from Sanofi - Investment in affiliates | 149 | 229 | 283 | ||||||||||
Selected Alliance Balance Sheet information: | December 31, | ||||||||||||
Dollars in Millions | 2013 | 2012 | |||||||||||
Investment in affiliates – territory covering Europe and Asia(a) | 43 | 9 | |||||||||||
Noncontrolling interest | 49 | (30 | ) | ||||||||||
(a) | Included in alliance receivables. | ||||||||||||
The following is summarized financial information for interests in the partnerships with Sanofi for the territory covering Europe and Asia, which are not consolidated but are accounted for using the equity method: | |||||||||||||
Year Ended December 31, | |||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||
Net sales | $ | 395 | $ | 1,077 | $ | 1,469 | |||||||
Gross profit | 319 | 453 | 658 | ||||||||||
Net income | $ | 313 | $ | 394 | $ | 562 | |||||||
Cost of products sold for the territory covering Europe and Asia includes discovery royalties of $38 million in 2013, $133 million in 2012 and $184 million in 2011, which are paid directly to Sanofi. All other expenses are shared based on the applicable ownership percentages. Current assets and current liabilities include approximately $108 million in 2013, $293 million in 2012 and $400 million in 2011 related to receivables/payables attributed to cash distributions to BMS and Sanofi as well as intercompany balances between partnerships within the territory. The remaining current assets and current liabilities consist of third-party trade receivables, inventories and amounts due to BMS and Sanofi for the purchase of inventories, royalties and expense reimbursements. | |||||||||||||
Pfizer | |||||||||||||
BMS and Pfizer Inc. (Pfizer) maintain a worldwide codevelopment and cocommercialization agreement for Eliquis, an anticoagulant discovered by BMS. Pfizer funds between 50% and 60% of all development costs depending on the study. The companies share commercialization expenses and profits and losses equally on a global basis. In certain countries not in the BMS global commercialization network, Pfizer will commercialize Eliquis alone and will pay BMS compensation based on a percentage of net sales. | |||||||||||||
Upon entering into the agreement, co-exclusive license rights for the product was granted to Pfizer in exchange for an upfront payment and potential milestone payments, and both parties assumed certain obligations to actively participate in the alliance. Both parties actively participate in a joint executive committee and various other operating committees and have joint responsibilities for the research, development, distribution, sales and marketing activities of the alliance using resources in their own infrastructures. BMS manufactures the product in the alliance and is the principal in the end-customer product sales in substantially all countries. | |||||||||||||
We have determined that the rights transferred to Pfizer did not have standalone value as such rights were not sold separately by BMS or any other party, nor could Pfizer have received any benefit for the delivered rights without the fulfillment of other ongoing obligations by BMS under the alliance agreement, including the exclusive supply arrangement. As such, the global alliance was treated as a single unit of accounting. As a result, up-front proceeds and any subsequent contingent milestone proceeds were amortized over the life of the related product. | |||||||||||||
BMS received $784 million in non-refundable upfront, milestone and other licensing payments related to Eliquis to date, including $20 million received in January 2014, and could receive up to an additional $100 million for development and regulatory milestones. Amortization of the Eliquis deferred income is included in other income as Eliquis was not a commercial product at the commencement of the alliance. | |||||||||||||
Summarized financial information related to this alliance was as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||
Revenues from Pfizer alliance: | |||||||||||||
Net product sales | $ | 144 | $ | 2 | $ | — | |||||||
Alliance and other revenues | 2 | — | — | ||||||||||
Total Revenues | 146 | 2 | — | ||||||||||
Payments to/(from) Pfizer: | |||||||||||||
Cost of products sold – Profit sharing | 69 | 1 | — | ||||||||||
Cost reimbursements to/(from) Pfizer | 4 | (11 | ) | (75 | ) | ||||||||
Other (income)/expense – Amortization of deferred income | (41 | ) | (37 | ) | (33 | ) | |||||||
Selected Alliance Cash Flow information: | |||||||||||||
Non-refundable upfront, milestone and other licensing payments receipts | 205 | 20 | 65 | ||||||||||
Selected Alliance Balance Sheet information: | December 31, | ||||||||||||
Dollars in Millions | 2013 | 2012 | |||||||||||
Deferred income | $ | 581 | $ | 397 | |||||||||
Reckitt Benckiser Group | |||||||||||||
In May 2013, BMS and Reckitt Benckiser Group plc (Reckitt) entered into a three-year alliance for several over-the-counter-products sold primarily in Mexico and Brazil. Net sales of these products were approximately $100 million in 2012. Reckitt received the right to sell, distribute and market the products through May 2016 and will have certain responsibilities related to regulatory matters in the covered territory. BMS will receive royalties on net sales of the products and will also exclusively supply certain of the products to Reckitt pursuant to a supply agreement at cost plus a markup. Certain limited assets, including the market authorizations and certain employees directly attributed to the business, were transferred to Reckitt at the start of the alliance period. BMS retained ownership of all other assets related to the business including the trademarks covering the products. | |||||||||||||
BMS also granted Reckitt an option to acquire the trademarks, inventory and certain other assets exclusively related to the products at the end of the alliance period at a price determined based on a multiple of sales (plus the cost of any remaining inventory held by BMS at the time). If the option is not exercised, all assets previously transferred to Reckitt will revert back to BMS. The option may be exercised by Reckitt between May and November 2015, in which case closing would be expected to occur in May 2016. | |||||||||||||
Non-refundable upfront proceeds of $485 million received by BMS were allocated to two units of accounting, including the rights transferred to Reckitt ($376 million) and the fair value of the option to purchase the remaining assets ($109 million) using the best estimate of the selling price for these elements after considering various market factors. These market factors included an analysis of any estimated excess of the fair value of the business over the potential purchase price if the option is exercised. The fair value of the option was determined using Level 3 inputs and included in other liabilities. Changes in the estimated fair value of the option liability were not significant in 2013. The amount allocated to the rights transferred to Reckitt is amortized as alliance and other revenue over the contractual term. Alliance and other revenue was $116 million in 2013, including product supply and royalties. | |||||||||||||
The Medicines Company | |||||||||||||
In February 2013, BMS and The Medicines Company entered into a two-year alliance for Recothrom, a recombinant thrombin for use as a topical hemostat to control non-arterial bleeding during surgical procedures (previously acquired by BMS in connection with its acquisition of ZymoGenetics, Inc in 2010). Net product sales of Recothrom were $67 million in 2012. The Medicines Company received the right to sell, distribute and market Recothrom on a global basis for two years, and will have certain responsibilities related to regulatory matters in the covered territory. BMS will exclusively supply Recothrom to The Medicines Company pursuant to a supply agreement at cost plus a markup and will also receive royalties on net sales of Recothrom. Certain employees directly attributed to the business and certain assets were transferred to The Medicines Company at the start of the alliance period, including the Recothrom Biologics License Application and related regulatory assets. BMS retained all other assets related to Recothrom including the patents, trademarks and inventory. | |||||||||||||
BMS also granted The Medicines Company an option to acquire the patents, trademarks, inventory and certain other assets exclusively related to Recothrom at a price determined based on a multiple of sales (plus the cost of any remaining inventory held by BMS at that time). If the option is not exercised, all assets previously transferred to The Medicines Company will revert back to BMS. The option may be exercised by The Medicines Company between February and August 2014, in which case closing would be expected to occur in February 2015. | |||||||||||||
Non-refundable upfront proceeds of $115 million received by BMS were allocated to two units of accounting, including the rights transferred to The Medicines Company ($80 million) and the fair value of the option to purchase the remaining assets ($35 million) using the best estimate of the selling price for these elements after considering various market factors. These market factors included an analysis of any estimated excess of the fair value of the business over the potential purchase price if the option is exercised. The fair value of the option was determined using Level 3 inputs and included in other liabilities. Changes in the estimated fair value of the option liability were not significant in 2013. The amount allocated to the rights transferred to The Medicines Company is amortized as alliance and other revenue over the contractual term. Alliance and other revenue was $74 million in 2013, including product supply and royalties. | |||||||||||||
Valeant | |||||||||||||
In October 2012, BMS and PharmaSwiss SA, a wholly-owned subsidiary of Valeant Pharmaceuticals International Inc. (Valeant) entered into a alliance for certain mature brand products in Europe. Valeant received the right to sell, distribute, and market the products in Europe through December 31, 2014 and will have certain responsibilities related to regulatory matters in the covered territory. During the alliance term, BMS will also exclusively supply the products to Valeant pursuant to a supply agreement at cost plus a markup. | |||||||||||||
BMS also granted Valeant an option to acquire the trademarks and intellectual property exclusively related to the products at a price determined based on a multiple of sales. If the option is not exercised, all rights transferred to Valeant will revert back to BMS. The option may be exercised by Valeant between January and June 2014, in which case closing would be expected to occur in December 2014. | |||||||||||||
Non-refundable upfront proceeds of $79 million received by BMS were allocated to two units of accounting, including the rights transferred to Valeant ($61 million) and the fair value of the option to purchase the remaining assets ($18 million) using the best estimate of the selling price for these elements after considering various market factors. These market factors included an analysis of any estimated excess of the fair value of the business over the potential purchase price if the option is exercised. The fair value of the option was determined using Level 3 inputs and included in accrued expenses. Changes in the estimated fair value of the option liability were not significant in 2013 and 2012. The amount allocated to the rights transferred to Valeant is amortized as alliance and other revenue over the contractual term. Alliance and other revenue was $49 million in 2013 and $5 million in 2012, including product supply. Net product sales recognized during a transitional period were $4 million in 2013 and $5 million in 2012. |
ACQUISITIONS
ACQUISITIONS | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||
Business Combination Disclosure [Text Block] | ' | ||||||||||||
Note 4. ACQUISITIONS | |||||||||||||
Amylin Pharmaceuticals, Inc. Acquisition | |||||||||||||
On August 8, 2012, BMS completed its acquisition of the outstanding shares of Amylin, a biopharmaceutical company focused on the discovery, development and commercialization of innovative medicines to treat diabetes and other metabolic diseases. Acquisition costs of $29 million were included in other expenses. | |||||||||||||
BMS obtained full U.S. commercialization rights to Amylin’s two primary commercialized assets, Bydureon*, a once-weekly diabetes treatment and Byetta*, a daily diabetes treatment, both of which are glucagon-like peptide-1 (GLP-1) receptor agonists approved in certain countries to improve glycemic control in adults with type 2 diabetes. BMS also obtained full commercialization rights to Symlin*, an amylinomimetic approved in the U.S. for adjunctive therapy to mealtime insulin to treat diabetes. Goodwill generated from this acquisition was primarily attributed to the expansion of our diabetes franchise. | |||||||||||||
IPRD was attributed to metreleptin, an analog of the human hormone leptin being studied and developed for the treatment of diabetes and/or hypertriglyceridemia in pediatric and adult patients with inherited or acquired lipodystrophy. The estimated useful life and the cash flows utilized to value metreleptin assumed initial positive cash flows to commence shortly after the expected receipt of regulatory approvals, subject to trial results. | |||||||||||||
See "—Note 5. Assets Held-For-Sale" for a discussion of the sale of the Company's diabetes business, including Amylin, to AstraZeneca which comprised our global diabetes alliance with them. | |||||||||||||
Inhibitex, Inc. Acquisition | |||||||||||||
On February 13, 2012, BMS completed its acquisition of the outstanding shares of Inhibitex, Inc. (Inhibitex), a clinical-stage biopharmaceutical company focused on developing products to prevent and treat serious infectious diseases. Acquisition costs of $12 million were included in other expense. | |||||||||||||
BMS obtained Inhibitex’s lead asset, INX-189, an oral nucleotide polymerase (NS5B) inhibitor in Phase II development for the treatment of chronic hepatitis C virus infections. Goodwill generated from this acquisition was primarily attributed to the potential to offer a full portfolio of therapy choices for hepatitis virus infections as well as to provide additional levels of sustainability to BMS’s virology pipeline. | |||||||||||||
IPRD was primarily attributed to INX-189. INX-189 was expected to be most effective when used in combination therapy and it was assumed all market participants would inherently maintain franchise synergies attributed to maximizing the cash flows of their existing virology pipeline assets. The cash flows utilized to value INX-189 included such synergies and also assumed initial positive cash flows to commence shortly after the expected receipt of regulatory approvals, subject to trial results. | |||||||||||||
In August 2012, the Company discontinued development of INX-189 in the interest of patient safety. As a result, the Company recognized a non-cash, pre-tax impairment charge of $1.8 billion related to the IPRD intangible asset in the third quarter of 2012. For further information discussion of the impairment charge, see “—Note 14. Goodwill and Other Intangible Assets.” | |||||||||||||
Amira Pharmaceuticals, Inc. Acquisition | |||||||||||||
On September 7, 2011, BMS completed its acquisition of the outstanding shares of Amira Pharmaceuticals, Inc. (Amira) for $325 million in cash plus three separate, contingent $50 million payments due upon achievement of certain development and sales-based milestones. The first contingent payment was made in the fourth quarter of 2011. The purchase price of Amira includes the estimated fair value of the total contingent consideration of $58 million, which was recorded in other liabilities. Acquisition costs of $1 million were included in other expense. Amira was a privately-held biotechnology company primarily focused on the discovery and development of therapeutic products for the treatment of cardiovascular and fibrotic inflammatory diseases. The acquisition provides BMS with: 1) full rights to develop and commercialize AM152 which has completed Phase I clinical studies and the remainder of the Amira lysophosphatidic acid 1 receptor antagonist program; 2) researchers with fibrotic expertise; and 3) a pre-clinical autotaxin program. Goodwill generated from the acquisition was primarily attributed to acquired scientific expertise in fibrotic diseases allowing for expansion into a new therapeutic class. | |||||||||||||
The total consideration transferred and the allocation of the acquisition date fair values of assets acquired and liabilities assumed in the Amylin, Inhibitex, and Amira acquisitions were as follows: | |||||||||||||
Dollars in Millions | |||||||||||||
Identifiable net assets: | Amylin | Inhibitex | Amira | ||||||||||
Cash | $ | 179 | $ | 46 | $ | 15 | |||||||
Marketable securities | 108 | 17 | — | ||||||||||
Inventory | 173 | — | — | ||||||||||
Property, plant and equipment | 742 | — | — | ||||||||||
Developed technology rights | 6,340 | — | — | ||||||||||
IPRD | 120 | 1,875 | 160 | ||||||||||
Other assets | 136 | — | — | ||||||||||
Debt obligations | (2,020 | ) | (23 | ) | — | ||||||||
Other liabilities | (339 | ) | (10 | ) | (16 | ) | |||||||
Deferred income taxes | (1,068 | ) | (579 | ) | (41 | ) | |||||||
Total identifiable net assets | 4,371 | 1,326 | 118 | ||||||||||
Goodwill | 847 | 1,213 | 265 | ||||||||||
Total consideration transferred | $ | 5,218 | $ | 2,539 | $ | 383 | |||||||
Cash paid for the acquisition of Amylin included payments of $5,093 million to its outstanding common stockholders and $219 million to holders of its stock options and restricted stock units (including $94 million attributed to accelerated vesting that was accounted for as stock compensation expense in the third quarter of 2012). | |||||||||||||
The results of operations and cash flows from acquired companies are included in the consolidated financial statements as of the acquisition date. Pro forma supplemental financial information is not provided as the impacts of the acquisitions were not material to operating results in the year of acquisition. Goodwill, IPRD and all intangible assets valued in these acquisitions are non-deductible for tax purposes. |
ASSETS_HELDFORSALE
ASSETS HELD-FOR-SALE | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Assets Held-For-Sale [Abstract] | ' | ||||
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | ' | ||||
Note 5. ASSETS HELD-FOR-SALE | |||||
In February 2014, BMS sold to AstraZeneca the diabetes business of BMS which comprised our global alliance with them, including all rights and ownership to Onglyza, Forxiga, Bydureon*, Byetta*, Symlin* and metreleptin. The transaction included the shares of Amylin (previously acquired by BMS in August 2012), and the resulting transfer of its manufacturing facility in West Chester, Ohio; the intellectual property related to Onglyza and Forxiga; and the future purchase of BMS’s manufacturing facility located in Mount Vernon, Indiana no earlier than 18 months following the closing of the transaction. Substantially all employees dedicated to the diabetes business were transferred to AstraZeneca upon the closing of the transaction. | |||||
As consideration for the transaction, AstraZeneca paid $2.7 billion to BMS at closing, a $600 million milestone in February 2014 for the approval of Farxiga in the U.S., and will make contingent regulatory and sales-based milestone payments of up to $800 million and royalty payments based on net sales through 2025. In addition, AstraZeneca will make payments of up to $225 million if and when certain assets are transferred including the Mount Vernon manufacturing site and the diabetes business in China. | |||||
The business was treated as a single disposal group held for sale as of December 31, 2013. No write-down was required as the fair value of the business less costs to sell exceeded the related carrying value. The following assets and liabilities of the diabetes business held-for-sale is presented separately from BMS’s other accounts as of December 31, 2013. | |||||
Dollars in Millions | December 31, 2013 | ||||
Assets | |||||
Receivables | $ | 83 | |||
Inventories | 163 | ||||
Deferred income taxes - current | 125 | ||||
Prepaid expenses and other | 20 | ||||
Property, plant and equipment | 678 | ||||
Goodwill(a) | 550 | ||||
Other intangible assets | 5,682 | ||||
Other assets | 119 | ||||
Total assets held-for-sale | 7,420 | ||||
Liabilities | |||||
Short-term borrowings and current portion of long-term debt | 27 | ||||
Accounts payable | 30 | ||||
Accrued expenses | 148 | ||||
Deferred income - current | 352 | ||||
Accrued rebates and returns | 81 | ||||
Deferred income - noncurrent | 3,319 | ||||
Deferred income taxes - noncurrent | 946 | ||||
Other liabilities | 28 | ||||
Total liabilities related to assets held-for-sale | 4,931 | ||||
(a) The allocation of goodwill was based on the relative fair value of the diabetes business (as of December 31, 2013) being divested to the Company's reporting unit. | |||||
The stock and asset purchase agreement contains multiple elements that will be delivered subsequent to the closing of the transaction. Each element of the transaction was determined to have standalone value and as a result, a portion of the consideration received at closing will be allocated to the undelivered elements using the relative selling price method including the China diabetes business, the Mount Vernon manufacturing facility, the development agreement and the incremental discount attributed to the supply agreement. The remaining amount of consideration received at closing will be included in the calculation of the estimated net gain on disposal. | |||||
All contingent consideration, including royalties and milestone payments, if and when received, will also be allocated to the underlying elements of the transaction on a relative selling price basis. Amounts allocated to the sale of the business will be immediately recognized. Amounts allocated to the other elements will either be recognized immediately or deferred, in whole or in part, to the extent each element has been delivered. |
OTHER_INCOMEEXPENSE
OTHER (INCOME)/EXPENSE | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Other Nonoperating Income (Expense) [Abstract] | ' | ||||||||||||
Other Income and Other Expense Disclosure [Text Block] | ' | ||||||||||||
Note 6. OTHER (INCOME)/EXPENSE | |||||||||||||
Other (income)/expense includes: | |||||||||||||
Year Ended December 31, | |||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||
Interest expense | $ | 199 | $ | 182 | $ | 145 | |||||||
Investment income | (104 | ) | (106 | ) | (91 | ) | |||||||
Provision for restructuring (See Note 7) | 226 | 174 | 116 | ||||||||||
Litigation charges/(recoveries) | 20 | (45 | ) | 6 | |||||||||
Equity in net income of affiliates | (166 | ) | (183 | ) | (281 | ) | |||||||
Out-licensed intangible asset impairment | — | 38 | — | ||||||||||
Gain on sale of product lines, businesses and assets | (2 | ) | (53 | ) | (37 | ) | |||||||
Other income received from alliance partners, net | (148 | ) | (312 | ) | (140 | ) | |||||||
Pension curtailments and settlements | 165 | 158 | 10 | ||||||||||
Other | 15 | 67 | (62 | ) | |||||||||
Other (income)/expense | $ | 205 | $ | (80 | ) | $ | (334 | ) | |||||
RESTRUCTURING
RESTRUCTURING | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Restructuring Charges [Abstract] | ' | ||||||||||||
Restructuring and Related Activities Disclosure [Text Block] | ' | ||||||||||||
Note 7. RESTRUCTURING | |||||||||||||
The following is the provision for restructuring: | |||||||||||||
Year Ended December 31, | |||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||
Employee termination benefits | $ | 211 | $ | 145 | $ | 85 | |||||||
Other exit costs | 15 | 29 | 31 | ||||||||||
Provision for restructuring | $ | 226 | $ | 174 | $ | 116 | |||||||
Restructuring charges included termination benefits for workforce reductions of manufacturing, selling, administrative, and research and development personnel across all geographic regions of approximately 1,450 in 2013, 1,205 in 2012 and 822 in 2011. | |||||||||||||
The following table represents the activity of employee termination and other exit cost liabilities: | |||||||||||||
Year Ended December 31, | |||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||
Liability at January 1 | $ | 167 | $ | 77 | $ | 126 | |||||||
Charges | 249 | 178 | 128 | ||||||||||
Change in estimates | (23 | ) | (4 | ) | (12 | ) | |||||||
Provision for restructuring | 226 | 174 | 116 | ||||||||||
Foreign currency translation | 4 | (1 | ) | 2 | |||||||||
Amylin acquisition | — | 26 | — | ||||||||||
Liabilities related to assets held-for-sale | (67 | ) | — | — | |||||||||
Spending | (228 | ) | (109 | ) | (167 | ) | |||||||
Liability at December 31 | $ | 102 | $ | 167 | $ | 77 | |||||||
INCOME_TAXES
INCOME TAXES | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||||||||||
Income Tax Disclosure [Text Block] | ' | ||||||||||||||||||||
Note 8. INCOME TAXES | |||||||||||||||||||||
The provision/(benefit) for income taxes consisted of: | |||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||||||||||
Current: | |||||||||||||||||||||
U.S. | $ | 375 | $ | 627 | $ | 864 | |||||||||||||||
Non-U.S. | 427 | 442 | 442 | ||||||||||||||||||
Total Current | 802 | 1,069 | 1,306 | ||||||||||||||||||
Deferred: | |||||||||||||||||||||
U.S. | (390 | ) | (1,164 | ) | 406 | ||||||||||||||||
Non-U.S | (101 | ) | (66 | ) | 9 | ||||||||||||||||
Total Deferred | (491 | ) | (1,230 | ) | 415 | ||||||||||||||||
Total Provision/(Benefit) | $ | 311 | $ | (161 | ) | $ | 1,721 | ||||||||||||||
Effective Tax Rate | |||||||||||||||||||||
The reconciliation of the effective tax/(benefit) rate to the U.S. statutory Federal income tax rate was: | |||||||||||||||||||||
% of Earnings Before Income Taxes | |||||||||||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||||||||||
Earnings/(Loss) before income taxes: | |||||||||||||||||||||
U.S. | $ | (135 | ) | $ | (271 | ) | $ | 4,336 | |||||||||||||
Non-U.S. | 3,026 | 2,611 | 2,645 | ||||||||||||||||||
Total | $ | 2,891 | $ | 2,340 | $ | 6,981 | |||||||||||||||
U.S. statutory rate | 1,012 | 35 | % | 819 | 35 | % | 2,443 | 35 | % | ||||||||||||
Non-tax deductible annual pharmaceutical company fee | 63 | 2.2 | % | 90 | 3.8 | % | 80 | 1.2 | % | ||||||||||||
Foreign tax effect of certain operations in Ireland, Puerto Rico and Switzerland | (620 | ) | (21.4 | )% | (688 | ) | (29.4 | )% | (593 | ) | (8.5 | )% | |||||||||
State and local taxes (net of valuation allowance) | 25 | 0.9 | % | 20 | 0.9 | % | 33 | 0.5 | % | ||||||||||||
U.S. Federal, state and foreign contingent tax matters | 134 | 4.6 | % | 66 | 2.8 | % | (161 | ) | (2.3 | )% | |||||||||||
U.S. Federal research and development tax credit | (181 | ) | (6.3 | )% | — | — | (69 | ) | (1.0 | )% | |||||||||||
U.S. tax effect of capital losses | — | — | (392 | ) | (16.7 | )% | — | — | |||||||||||||
Foreign and other | (122 | ) | (4.2 | )% | (76 | ) | (3.3 | )% | (12 | ) | (0.2 | )% | |||||||||
$ | 311 | 10.8 | % | $ | (161 | ) | (6.9 | )% | $ | 1,721 | 24.7 | % | |||||||||
The change in the 2013 effective tax rate from 2012 was due to: | |||||||||||||||||||||
• | A tax benefit in 2012 of $392 million attributable to a capital loss deduction resulting from the tax insolvency of Inhibitex; | ||||||||||||||||||||
• | Tax benefits attributable to higher impairment charges in 2012 (including an $1,830 million impairment charge for the BMS-986094 intangible asset in the U.S.); and | ||||||||||||||||||||
• | Higher charges from contingent tax matters ($134 million in 2013 and $66 million in 2012) | ||||||||||||||||||||
Partially offset by: | |||||||||||||||||||||
• | Favorable earnings mix between high and low tax jurisdictions primarily attributable to lower Plavix* revenues in 2013 and to a lesser extent the impact of an internal transfer of intellectual property in the fourth quarter of 2012; and | ||||||||||||||||||||
• | A favorable impact on the current year rate from the legal enactment of the 2012 and 2013 research and development tax credit during 2013. The retroactive reinstatement of the 2012 research and development tax credit recognized in 2013 was $82 million. | ||||||||||||||||||||
The change in the 2012 effective tax rate from 2011 was due to: | |||||||||||||||||||||
• | A tax benefit of $392 million attributable to a capital loss deduction resulting from the tax insolvency of Inhibitex; and | ||||||||||||||||||||
• | Favorable earnings mix between high and low tax jurisdictions primarily attributed to lower Plavix* revenues and a $1,830 million impairment charge for BMS-986094 intangible asset in the U.S. and to a lesser extent, an internal transfer of intellectual property. | ||||||||||||||||||||
Partially offset by: | |||||||||||||||||||||
• | Contingent tax matters which resulted in a $66 million charge in 2012 and $161 million benefit in 2011; | ||||||||||||||||||||
• | An unfavorable impact on the current year rate from the delay in the legal enactment of the research and development tax credit, which was not extended as of December 31, 2012; and | ||||||||||||||||||||
• | Changes in prior period estimates upon finalizing U.S. tax returns resulting in a $54 million benefit in 2011. | ||||||||||||||||||||
Deferred Taxes and Valuation Allowance | |||||||||||||||||||||
The components of current and non-current deferred income tax assets/(liabilities) were as follows: | |||||||||||||||||||||
December 31, | |||||||||||||||||||||
Dollars in Millions | 2013 | 2012 | |||||||||||||||||||
Deferred tax assets | |||||||||||||||||||||
Foreign net operating loss carryforwards | $ | 3,892 | $ | 3,722 | |||||||||||||||||
Milestone payments and license fees | 483 | 550 | |||||||||||||||||||
Deferred income | 2,168 | 2,083 | |||||||||||||||||||
U.S. capital losses | 784 | 794 | |||||||||||||||||||
U.S. Federal net operating loss carryforwards | 138 | 170 | |||||||||||||||||||
Pension and postretirement benefits | 120 | 693 | |||||||||||||||||||
State net operating loss and credit carryforwards | 377 | 346 | |||||||||||||||||||
Intercompany profit and other inventory items | 495 | 288 | |||||||||||||||||||
U.S. Federal tax credit carryforwards | 23 | 31 | |||||||||||||||||||
Other foreign deferred tax assets | 187 | 197 | |||||||||||||||||||
Share-based compensation | 107 | 111 | |||||||||||||||||||
Legal settlements | 20 | 45 | |||||||||||||||||||
Repatriation of foreign earnings | 49 | 86 | |||||||||||||||||||
Internal transfer of intellectual property | 223 | — | |||||||||||||||||||
Other | 357 | 344 | |||||||||||||||||||
Total deferred tax assets | 9,423 | 9,460 | |||||||||||||||||||
Valuation allowance | (4,623 | ) | (4,404 | ) | |||||||||||||||||
Net deferred tax assets | 4,800 | 5,056 | |||||||||||||||||||
Deferred tax liabilities | |||||||||||||||||||||
Depreciation | (148 | ) | (147 | ) | |||||||||||||||||
Acquired intangible assets | (2,567 | ) | (2,768 | ) | |||||||||||||||||
Other | (780 | ) | (734 | ) | |||||||||||||||||
Total deferred tax liabilities | (3,495 | ) | (3,649 | ) | |||||||||||||||||
Deferred tax assets, net | $ | 1,305 | $ | 1,407 | |||||||||||||||||
Recognized as: | |||||||||||||||||||||
Assets held-for-sale | $ | 125 | $ | — | |||||||||||||||||
Deferred income taxes – current | 1,701 | 1,597 | |||||||||||||||||||
Deferred income taxes – non-current | 508 | 203 | |||||||||||||||||||
U.S. and foreign income taxes payable – current | (10 | ) | (10 | ) | |||||||||||||||||
Liabilities related to assets held-for-sale | (946 | ) | — | ||||||||||||||||||
Deferred income taxes – non-current | (73 | ) | (383 | ) | |||||||||||||||||
Total | $ | 1,305 | $ | 1,407 | |||||||||||||||||
The U.S. Federal net operating loss carryforwards were $396 million at December 31, 2013. These carryforwards were acquired as a result of certain acquisitions and are subject to limitations under Section 382 of the Internal Revenue Code. The net operating loss carryforwards expire in varying amounts beginning in 2022. The U.S. Federal tax credit carryforwards expire in varying amounts beginning in 2017. The realization of the U.S. Federal tax credit carryforwards is dependent on generating sufficient domestic-sourced taxable income prior to their expiration. The capital loss available of $2,196 million can be carried back to 2009 and carried forward to 2017. The foreign and state net operating loss carryforwards expire in varying amounts beginning in 2014 (certain amounts have unlimited lives). | |||||||||||||||||||||
Management has established a valuation allowance when a deferred tax asset is more likely than not to be realized. At December 31, 2013, a valuation allowance of $4,623 million was established for the following items: $3,849 million primarily for foreign net operating loss and tax credit carryforwards, $378 million for state deferred tax assets including net operating loss and tax credit carryforwards, $13 million for U.S. Federal net operating loss carryforwards and $383 million for U.S. Federal capital losses. | |||||||||||||||||||||
Changes in the valuation allowance were as follows: | |||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||||||||||
Balance at beginning of year | $ | 4,404 | $ | 3,920 | $ | 1,863 | |||||||||||||||
Provision | 252 | 494 | 2,410 | ||||||||||||||||||
Utilization | (68 | ) | (145 | ) | (135 | ) | |||||||||||||||
Foreign currency translation | 40 | 39 | (222 | ) | |||||||||||||||||
Acquisitions | (5 | ) | 96 | 4 | |||||||||||||||||
Balance at end of year | $ | 4,623 | $ | 4,404 | $ | 3,920 | |||||||||||||||
Income tax payments were $478 million in 2013, $676 million in 2012 and $597 million in 2011. The current tax benefit realized as a result of stock related compensation credited to capital in excess of par value of stock was $129 million in 2013, $71 million in 2012 and $47 million in 2011. | |||||||||||||||||||||
U.S. taxes have not been provided on approximately $24 billion of undistributed earnings of foreign subsidiaries as these undistributed earnings are indefinitely invested offshore at December 31, 2013. Additional tax provisions will be required if these earnings are repatriated in the future to the U.S. or if such earnings are determined to be remitted in the foreseeable future. Due to complexities in the tax laws and assumptions that would have to be made, it is not practicable to estimate the amounts of income taxes that will have to be provided. As a result, BMS has favorable tax rates in Ireland and Puerto Rico under grants not scheduled to expire prior to 2023. | |||||||||||||||||||||
Business is conducted in various countries throughout the world and is subject to tax in numerous jurisdictions. A significant number of tax returns are filed and subject to examination by various Federal, state and local tax authorities. Tax examinations are often complex, as tax authorities may disagree with the treatment of items reported requiring several years to resolve. Liabilities are established for possible assessments by tax authorities resulting from known tax exposures including, but not limited to, transfer pricing matters, tax credits and deductibility of certain expenses. Such liabilities represent a reasonable provision for taxes ultimately expected to be paid and may need to be adjusted over time as more information becomes known. The effect of changes in estimates related to contingent tax liabilities is included in the effective tax rate reconciliation above. | |||||||||||||||||||||
A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows: | |||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||||||||||
Balance at beginning of year | $ | 642 | $ | 628 | $ | 845 | |||||||||||||||
Gross additions to tax positions related to current year | 74 | 46 | 44 | ||||||||||||||||||
Gross additions to tax positions related to prior years | 108 | 66 | 105 | ||||||||||||||||||
Gross additions to tax positions assumed in acquisitions | — | 31 | 1 | ||||||||||||||||||
Gross reductions to tax positions related to prior years | (87 | ) | (57 | ) | (325 | ) | |||||||||||||||
Settlements | 26 | (54 | ) | (30 | ) | ||||||||||||||||
Reductions to tax positions related to lapse of statute | (8 | ) | (19 | ) | (7 | ) | |||||||||||||||
Cumulative translation adjustment | 1 | 1 | (5 | ) | |||||||||||||||||
Balance at end of year | $ | 756 | $ | 642 | $ | 628 | |||||||||||||||
Additional information regarding unrecognized tax benefits is as follows: | |||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||||||||||
Unrecognized tax benefits that if recognized would impact the effective tax rate | $ | 508 | $ | 633 | $ | 570 | |||||||||||||||
Accrued interest | 83 | 59 | 51 | ||||||||||||||||||
Accrued penalties | 34 | 32 | 25 | ||||||||||||||||||
Interest expense | 24 | 14 | 10 | ||||||||||||||||||
Penalty expense | 3 | 16 | 7 | ||||||||||||||||||
Uncertain tax benefits reduce deferred tax assets to the extent the uncertainty directly related to that asset; otherwise, they are recognized as either current or non-current U.S. and foreign income taxes payable. Accrued interest and penalties payable for unrecognized tax benefits are included in either current or non-current U.S. and foreign income taxes payable. Interest and penalties related to unrecognized tax benefits are included in income tax expense. | |||||||||||||||||||||
BMS is currently under examination by a number of tax authorities, including but not limited to the major tax jurisdictions listed in the table below, which have proposed adjustments to tax for issues such as transfer pricing, certain tax credits and the deductibility of certain expenses. BMS estimates that it is reasonably possible that the total amount of unrecognized tax benefits at December 31, 2013 will decrease in the range of approximately $350 million to $400 million in the next twelve months as a result of the settlement of certain tax audits and other events. The expected change in unrecognized tax benefits, primarily settlement related, will involve the payment of additional taxes, the adjustment of certain deferred taxes and/or the recognition of tax benefits. BMS also anticipates that it is reasonably possible that new issues will be raised by tax authorities which may require increases to the balance of unrecognized tax benefits; however, an estimate of such increases cannot reasonably be made at this time. BMS believes that it has adequately provided for all open tax years by tax jurisdiction. | |||||||||||||||||||||
The following is a summary of major tax jurisdictions for which tax authorities may assert additional taxes based upon tax years currently under audit and subsequent years that will likely be audited: | |||||||||||||||||||||
U.S. | 2008 to 2013 | ||||||||||||||||||||
Canada | 2006 to 2013 | ||||||||||||||||||||
France | 2011 to 2013 | ||||||||||||||||||||
Germany | 2007 to 2013 | ||||||||||||||||||||
Italy | 2003 to 2013 | ||||||||||||||||||||
Mexico | 2006 to 2013 |
EARNINGS_PER_SHARE
EARNINGS PER SHARE | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Earnings Per Share [Text Block] | ' | ||||||||||||
Note 9. EARNINGS PER SHARE | |||||||||||||
Year Ended December 31, | |||||||||||||
Amounts in Millions, Except Per Share Data | 2013 | 2012 | 2011 | ||||||||||
Net Earnings Attributable to BMS | $ | 2,563 | $ | 1,960 | $ | 3,709 | |||||||
Earnings attributable to unvested restricted shares | — | (1 | ) | (8 | ) | ||||||||
Net Earnings Attributable to BMS common shareholders | $ | 2,563 | $ | 1,959 | $ | 3,701 | |||||||
Earnings per share - basic | $ | 1.56 | $ | 1.17 | $ | 2.18 | |||||||
Weighted-average common shares outstanding - basic | 1,644 | 1,670 | 1,700 | ||||||||||
Contingently convertible debt common stock equivalents | 1 | 1 | 1 | ||||||||||
Incremental shares attributable to share-based compensation plans | 17 | 17 | 16 | ||||||||||
Weighted-average common shares outstanding - diluted | 1,662 | 1,688 | 1,717 | ||||||||||
Earnings per share - diluted | $ | 1.54 | $ | 1.16 | $ | 2.16 | |||||||
Anti-dilutive weighted-average equivalent shares - stock incentive plans | — | 2 | 13 | ||||||||||
FINANCIAL_INSTRUMENTS_AND_FAIR
FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Financial Instruments [Abstract] | ' | ||||||||||||||||||||||||||||||||
Financial Instruments [Text Block] | ' | ||||||||||||||||||||||||||||||||
Note 10. FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS | |||||||||||||||||||||||||||||||||
Financial instruments include cash and cash equivalents, marketable securities, accounts receivable and payable, debt instruments and derivatives. | |||||||||||||||||||||||||||||||||
Changes in exchange rates and interest rates create exposure to market risk. Certain derivative financial instruments are used when available on a cost-effective basis to hedge the underlying economic exposure. These instruments qualify as cash flow, net investment and fair value hedges upon meeting certain criteria, including effectiveness of offsetting hedged exposures. Changes in fair value of derivatives that do not qualify for hedge accounting are recognized in earnings as they occur. Derivative financial instruments are not used for trading purposes. | |||||||||||||||||||||||||||||||||
Financial instruments are subject to counterparty credit risk which is considered as part of the overall fair value measurement. Counterparty credit risk is monitored on an ongoing basis and mitigated by limiting amounts outstanding with any individual counterparty, utilizing conventional derivative financial instruments and only entering into agreements with counterparties that meet high credit quality standards. The consolidated financial statements would not be materially impacted if any counterparty failed to perform according to the terms of its agreement. Collateral is not required by any party whether derivatives are in an asset or liability position under the terms of the agreements. | |||||||||||||||||||||||||||||||||
Fair Value Measurements – The fair values of financial instruments are classified into one of the following categories: | |||||||||||||||||||||||||||||||||
Level 1 inputs utilize non-binding quoted prices (unadjusted) in active markets that are accessible at the measurement date for identical assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs. These instruments include U.S. treasury securities. | |||||||||||||||||||||||||||||||||
Level 2 inputs utilize observable prices for similar instruments, non-binding quoted prices for identical or similar instruments in markets that are not active, and other observable inputs that can be corroborated by market data for substantially the full term of the assets or liabilities. These instruments include corporate debt securities, certificates of deposit, money market funds, foreign currency forward contracts, interest rate swap contracts, equity funds, fixed income funds and long-term debt. Additionally, certain corporate debt securities utilize a third-party matrix pricing model that uses significant inputs corroborated by market data for substantially the full term of the assets. Equity and fixed income funds are primarily invested in publicly traded securities and are valued at the respective net asset value of the underlying investments. There were no significant unfunded commitments or restrictions on redemptions related to equity and fixed income funds as of December 31, 2013. Level 2 derivative instruments are valued using London Interbank Offered Rate (LIBOR) yield curves, less credit valuation adjustments, and observable forward foreign exchange rates at the reporting date. Valuations of derivative contracts may fluctuate considerably from period-to-period due to volatility in underlying foreign currencies and underlying interest rates, which are driven by market conditions and the duration of the contract. Credit adjustment volatility may have a significant impact on the valuation of interest rate swaps due to changes in counterparty credit ratings and credit default swap spreads. | |||||||||||||||||||||||||||||||||
Level 3 unobservable inputs are used when little or no market data is available. The fair value of written options to sell the assets of certain businesses in connection with alliance agreements (see “—Note 3. Alliances” for further discussion) is based on an option pricing methodology that considers revenue and profitability projections, volatility, discount rates, and potential exercise price assumptions.The fair value of contingent consideration related to an acquisition (See "—Note 4. Acquisitions") was estimated utilizing a model that considered the probability of achieving each milestone and discount rates. Valuation models for the Auction Rate Security (ARS) and Floating Rate Security (FRS) portfolio are based on expected cash flow streams and collateral values including assessments of counterparty credit quality, default risk underlying the security, discount rates and overall capital market liquidity. The fair value of the ARS and FRS was not material at December 31, 2013 and 2012. | |||||||||||||||||||||||||||||||||
Financial assets and liabilities measured at fair value on a recurring basis are summarized below: | |||||||||||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||||||||||||||
Dollars in Millions | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||
Cash and cash equivalents - Money market and other securities | $ | — | $ | 3,201 | $ | — | $ | 3,201 | $ | — | $ | 1,288 | $ | — | $ | 1,288 | |||||||||||||||||
Marketable securities | |||||||||||||||||||||||||||||||||
Certificates of deposit | — | 122 | — | 122 | — | 34 | — | 34 | |||||||||||||||||||||||||
Corporate debt securities | — | 4,432 | — | 4,432 | — | 4,377 | — | 4,377 | |||||||||||||||||||||||||
U.S. Treasury securities | — | — | — | — | 150 | — | — | 150 | |||||||||||||||||||||||||
Equity funds | — | 74 | — | 74 | — | 57 | — | 57 | |||||||||||||||||||||||||
Fixed income funds | — | 46 | — | 46 | — | 47 | — | 47 | |||||||||||||||||||||||||
ARS and FRS | — | — | 12 | 12 | — | — | 31 | 31 | |||||||||||||||||||||||||
Derivative assets: | |||||||||||||||||||||||||||||||||
Interest rate swap contracts | — | 64 | — | 64 | — | 146 | — | 146 | |||||||||||||||||||||||||
Foreign currency forward contracts | — | 50 | — | 50 | — | 59 | — | 59 | |||||||||||||||||||||||||
Derivative liabilities: | |||||||||||||||||||||||||||||||||
Interest rate swap contracts | — | (27 | ) | — | (27 | ) | — | — | — | — | |||||||||||||||||||||||
Foreign currency forward contracts | — | (35 | ) | — | (35 | ) | — | (30 | ) | — | (30 | ) | |||||||||||||||||||||
Written option liabilities(a) | — | — | (162 | ) | (162 | ) | — | — | (18 | ) | (18 | ) | |||||||||||||||||||||
Contingent consideration liability(b) | — | — | (8 | ) | (8 | ) | — | — | (8 | ) | (8 | ) | |||||||||||||||||||||
(a) | Written option liabilities of $18 million and $144 million are included in accrued expenses and other liabilities, respectively. See "Note 3. Alliances" for further information. | ||||||||||||||||||||||||||||||||
(b) | The contingent consideration liability is included in other liabilities. See "Note 4. Acquisitions" for further information. | ||||||||||||||||||||||||||||||||
The following table summarizes the activity the financial assets utilizing Level 3 fair value measurements: | |||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||
Dollars in Millions | Written option liabilities | Contingent consideration liability | ARS and FRS | Written option liabilities | Contingent consideration liability | ARS and FRS | |||||||||||||||||||||||||||
Fair value at January 1 | $ | (18 | ) | $ | (8 | ) | $ | 31 | $ | — | $ | (8 | ) | $ | 110 | ||||||||||||||||||
Additions from new alliances | (144 | ) | — | — | (18 | ) | — | — | |||||||||||||||||||||||||
Unrealized gains | — | — | 1 | — | — | 2 | |||||||||||||||||||||||||||
Sales | — | — | (20 | ) | — | — | (81 | ) | |||||||||||||||||||||||||
Fair value at December 31 | $ | (162 | ) | $ | (8 | ) | $ | 12 | $ | (18 | ) | $ | (8 | ) | $ | 31 | |||||||||||||||||
Available-for-sale Securities | |||||||||||||||||||||||||||||||||
The following table summarizes available-for-sale securities: | |||||||||||||||||||||||||||||||||
Dollars in Millions | Amortized | Gross | Gross | Fair Value | |||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||||||||||||||||||
Gain in | Loss in | ||||||||||||||||||||||||||||||||
Accumulated | Accumulated | ||||||||||||||||||||||||||||||||
OCI | OCI | ||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||
Certificates of deposit | $ | 122 | $ | — | $ | — | $ | 122 | |||||||||||||||||||||||||
Corporate debt securities | 4,401 | 44 | (13 | ) | 4,432 | ||||||||||||||||||||||||||||
ARS | 9 | 3 | — | 12 | |||||||||||||||||||||||||||||
Total | 4,532 | 47 | (13 | ) | 4,566 | ||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||
Certificates of deposit | $ | 34 | $ | — | $ | — | $ | 34 | |||||||||||||||||||||||||
Corporate debt securities | 4,305 | 72 | — | 4,377 | |||||||||||||||||||||||||||||
U.S. Treasury securities | 150 | — | — | 150 | |||||||||||||||||||||||||||||
ARS and FRS | 29 | 3 | (1 | ) | 31 | ||||||||||||||||||||||||||||
Total | 4,518 | 75 | (1 | ) | 4,592 | ||||||||||||||||||||||||||||
Available-for-sale securities included in current marketable securities were $819 million at December 31, 2013. Non-current available-for-sale corporate debt securities maturing within five years were $3,735 million at December 31, 2013. Auction rate securities maturing beyond 10 years were $12 million at December 31, 2013. | |||||||||||||||||||||||||||||||||
Fair Value Option for Financial Assets | |||||||||||||||||||||||||||||||||
The Company invests in equity and fixed income funds that are designed to offset the changes in fair value of certain employee retirement benefits. Investments in equity and fixed income funds are included in current marketable securities and were $74 million and $46 million, respectively, at December 31, 2013 and $57 million and $47 million, respectively, at December 31, 2012. Investment income resulting from the change in fair value for the investments in equity and fixed income funds was $14 million in 2013 and $5 million in 2012. | |||||||||||||||||||||||||||||||||
Qualifying Hedges | |||||||||||||||||||||||||||||||||
The following summarizes the fair value of outstanding derivatives: | |||||||||||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||||||||||||||
Dollars in Millions | Balance Sheet Location | Notional | Fair Value | Notional | Fair Value | ||||||||||||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||||||||||||||||
Interest rate swap contracts | Other assets | $ | 673 | $ | 64 | $ | 573 | $ | 146 | ||||||||||||||||||||||||
Interest rate swap contracts | Other liabilities | 1,950 | (27 | ) | — | — | |||||||||||||||||||||||||||
Foreign currency forward contracts | Prepaid expenses and other | 301 | 44 | — | — | ||||||||||||||||||||||||||||
Foreign currency forward contracts | Other assets | 100 | 6 | 735 | 59 | ||||||||||||||||||||||||||||
Foreign currency forward contracts | Accrued expenses | 704 | (31 | ) | 916 | (30 | ) | ||||||||||||||||||||||||||
Foreign currency forward contracts | Other liabilities | 263 | (4 | ) | — | — | |||||||||||||||||||||||||||
Cash Flow Hedges — Foreign currency forward contracts are primarily utilized to hedge forecasted intercompany inventory purchase transactions in certain foreign currencies. These forward contracts are designated as cash flow hedges with the effective portion of changes in fair value being temporarily reported in accumulated OCI and recognized in earnings when the hedged item affects earnings. The net gains on foreign currency forward contracts are expected to be reclassified to cost of products sold within the next two years, including $14 million of pre-tax gains to be reclassified within the next 12 months. The notional amount of outstanding foreign currency forward contracts was primarily attributed to the Euro ($780 million) and Japanese yen ($247 million) at December 31, 2013. | |||||||||||||||||||||||||||||||||
Cash flow hedge accounting is discontinued when the forecasted transaction is no longer probable of occurring on the originally forecasted date, or 60 days thereafter, or when the hedge is no longer effective. Assessments to determine whether derivatives designated as qualifying hedges are highly effective in offsetting changes in the cash flows of hedged items are performed at inception and on a quarterly basis. Any ineffective portion of the change in fair value is included in current period earnings. The earnings impact related to discontinued cash flow hedges and hedge ineffectiveness was not significant during all periods presented. | |||||||||||||||||||||||||||||||||
Net Investment Hedges — Non-U.S. dollar borrowings of €541 million ($741 million) are designated to hedge the foreign currency exposures of the net investment in certain foreign affiliates. These borrowings are designated as net investment hedges and recognized in long term debt. The effective portion of foreign exchange gains or losses on the remeasurement of the debt is recognized in the foreign currency translation component of accumulated OCI with the related offset in long term debt. | |||||||||||||||||||||||||||||||||
Fair Value Hedges — Fixed-to-floating interest rate swap contracts are designated as fair value hedges and are used as part of an interest rate risk management strategy to create an appropriate balance of fixed and floating rate debt. The swaps and underlying debt for the benchmark risk being hedged are recorded at fair value. The effective interest rate paid on fixed-to-floating interest rate swaps is one-month LIBOR (0.17% as of December 31, 2013) plus an interest rate spread ranging from (0.8)% to 4.4%. When the underlying swap is terminated prior to maturity, the fair value basis adjustment to the underlying debt instrument is amortized into earnings as a reduction to interest expense over the remaining life of the debt. | |||||||||||||||||||||||||||||||||
Fixed-to-floating interest rate swap contracts were executed in 2013 to convert $2,050 million notional amount from fixed rate to variable rate debt. | |||||||||||||||||||||||||||||||||
During 2011, fixed-to-floating interest rate swap contracts of $1.6 billion notional amount and €1.0 billion notional amount were terminated generating total proceeds of $356 million (including accrued interest of $66 million). | |||||||||||||||||||||||||||||||||
Debt Obligations | |||||||||||||||||||||||||||||||||
Short-term borrowings and the current portion of long-term debt includes: | |||||||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||||||
Dollars in Millions | 2013 | 2012 | |||||||||||||||||||||||||||||||
Bank drafts and short-term borrowings | $ | 359 | $ | 162 | |||||||||||||||||||||||||||||
Current portion of long-term debt | — | 664 | |||||||||||||||||||||||||||||||
Total | $ | 359 | $ | 826 | |||||||||||||||||||||||||||||
Long-term debt and the current portion of long-term debt includes: | |||||||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||||||
Dollars in Millions | 2013 | 2012 | |||||||||||||||||||||||||||||||
Principal Value: | |||||||||||||||||||||||||||||||||
5.25% Notes due 2013 | $ | — | $ | 597 | |||||||||||||||||||||||||||||
4.375% Euro Notes due 2016 | 684 | 659 | |||||||||||||||||||||||||||||||
0.875% Notes due 2017 | 750 | 750 | |||||||||||||||||||||||||||||||
5.45% Notes due 2018 | 582 | 582 | |||||||||||||||||||||||||||||||
1.75% Notes due 2019 | 500 | — | |||||||||||||||||||||||||||||||
4.625% Euro Notes due 2021 | 684 | 659 | |||||||||||||||||||||||||||||||
2.000% Notes due 2022 | 750 | 750 | |||||||||||||||||||||||||||||||
7.15% Debentures due 2023 | 304 | 304 | |||||||||||||||||||||||||||||||
3.250% Notes due 2023 | 500 | — | |||||||||||||||||||||||||||||||
6.80% Debentures due 2026 | 330 | 330 | |||||||||||||||||||||||||||||||
5.875% Notes due 2036 | 625 | 625 | |||||||||||||||||||||||||||||||
6.125% Notes due 2038 | 480 | 480 | |||||||||||||||||||||||||||||||
3.250% Notes due 2042 | 500 | 500 | |||||||||||||||||||||||||||||||
4.500% Notes due 2044 | 500 | — | |||||||||||||||||||||||||||||||
6.88% Debentures due 2097 | 260 | 260 | |||||||||||||||||||||||||||||||
0% - 5.75% Other - maturing 2014 - 2030 | 144 | 135 | |||||||||||||||||||||||||||||||
Subtotal | 7,593 | 6,631 | |||||||||||||||||||||||||||||||
Adjustments to Principal Value: | |||||||||||||||||||||||||||||||||
Fair value of interest rate swap contracts | 37 | 146 | |||||||||||||||||||||||||||||||
Unamortized basis adjustment from swap terminations | 442 | 509 | |||||||||||||||||||||||||||||||
Unamortized bond discounts | (64 | ) | (54 | ) | |||||||||||||||||||||||||||||
Total | $ | 8,008 | $ | 7,232 | |||||||||||||||||||||||||||||
Current portion of long-term debt(a) | $ | 27 | $ | 664 | |||||||||||||||||||||||||||||
Long-term debt | 7,981 | 6,568 | |||||||||||||||||||||||||||||||
(a) | Included in liabilities related to assets held-for-sale at December 31, 2013. | ||||||||||||||||||||||||||||||||
Included in other debt is $49 million of Floating Rate Convertible Senior Debentures due 2023 which can be redeemed by the holders at par on September 15, 2018 or if a fundamental change in ownership occurs. The Debentures are callable at par at any time by the Company. The Debentures have a current conversion price of $39.58, equal to a conversion rate of 25.2623 shares for each $1,000 principal amount, subject to certain anti-dilutive adjustments. | |||||||||||||||||||||||||||||||||
The average amount of commercial paper outstanding was $259 million at a weighted-average interest rate of 0.12% during 2013. The maximum month end amount of commercial paper outstanding was $820 million with no outstanding borrowings at December 31, 2013. | |||||||||||||||||||||||||||||||||
During the fourth quarter of 2013, $1.5 billion of senior unsecured notes were issued: $500 million in aggregate principal amount of 1.750% Notes due 2019, $500 million in aggregate principal amount of 3.250% Notes due 2023 and $500 million in aggregate principal amount of 4.500% Notes due 2044 in a registered public offering . Interest on the notes will be paid semi-annually. The notes rank equally in right of payment with all of BMS’s existing and future senior unsecured indebtedness. BMS may redeem the notes, in whole or in part, at any time at a predetermined redemption price. The net proceeds of the note issuances were $1,477 million, which is net of a discount of $12 million and deferred loan issuance costs of $11 million. | |||||||||||||||||||||||||||||||||
During the third quarter of 2012, $2.0 billion of senior unsecured notes were issued: $750 million in aggregate principal amount of 0.875% Notes due 2017, $750 million in aggregate principal amount of 2.000% Notes due 2022 and $500 million in aggregate principal amount of 3.250% Notes due 2042 in a registered public offering. Interest on the notes will be paid semi-annually. The notes rank equally in right of payment with all of BMS’s existing and future senior unsecured indebtedness. BMS may redeem the notes, in whole or in part, at any time at a predetermined redemption price. The net proceeds of the note issuances were $1,950 million, which is net of a discount of $36 million and deferred loan issuance costs of $14 million. | |||||||||||||||||||||||||||||||||
The $597 million principal amount of 5.25% Notes Due 2013 matured and was repaid in the third quarter of 2013. Substantially all of the $2.0 billion debt obligations assumed in the acquisition of Amylin were repaid during the third quarter of 2012, including a promissory note with Lilly with respect to a revenue sharing obligation and Amylin senior notes due 2014. In January 2014, notices were provided to the holders of the 5.45% Notes due 2018 that BMS will exercise its call option to redeem the notes in their entirety in February 2014. The outstanding principal amount of the notes is $582 million. | |||||||||||||||||||||||||||||||||
The principal value of long-term debt obligations was $7,593 million at December 31, 2013, of which $27 million is due in 2014, $684 million is due in 2016, $750 million is due in 2017, $631 million is due in 2018 and the remaining $5,501 million is due in 2019 or thereafter. The fair value of long-term debt was $8,487 million and $8,285 million at December 31, 2013 and 2012, respectively, and was estimated based upon the quoted market prices for the same or similar debt instruments. The fair value of short-term borrowings approximates the carrying value due to the short maturities of the debt instruments. | |||||||||||||||||||||||||||||||||
There were no debt repurchases in 2013. Debt repurchase activity for 2012 and 2011, including repayment of the Amylin debt obligations, was as follows: | |||||||||||||||||||||||||||||||||
Dollars in Millions | 2012 | 2011 | |||||||||||||||||||||||||||||||
Principal amount | $ | 2,052 | $ | 71 | |||||||||||||||||||||||||||||
Carrying value | 2,081 | 88 | |||||||||||||||||||||||||||||||
Repurchase price | 2,108 | 78 | |||||||||||||||||||||||||||||||
Notional amount of interest rate swap contracts terminated | 6 | 34 | |||||||||||||||||||||||||||||||
Swap termination proceeds | 2 | 6 | |||||||||||||||||||||||||||||||
Total loss/(gain) | 27 | (10 | ) | ||||||||||||||||||||||||||||||
Interest payments were $268 million in 2013, $241 million in 2012 and $171 million in 2011 net of amounts related to interest rate swap contracts. | |||||||||||||||||||||||||||||||||
BMS has two separate $1.5 billion five-year revolving credit facilities from a syndicate of lenders. The facilities provide for customary terms and conditions with no financial covenants and are extendable on any anniversary date with the consent of the lenders. No borrowings were outstanding under either revolving credit facility at December 31, 2013 or 2012. | |||||||||||||||||||||||||||||||||
At December 31, 2013, $633 million of financial guarantees were provided in the form of stand-by letters of credit and performance bonds. The stand-by letters of credit are issued through financial institutions in support of guarantees made by BMS and its affiliates for various obligations. The performance bonds were issued to support a range of ongoing operating activities, including sale of products to hospitals and foreign ministries of health, bonds for customs, duties and value added tax and guarantees related to miscellaneous legal actions. A significant majority of the outstanding financial guarantees will expire within the year and are not expected to be funded. |
RECEIVABLES
RECEIVABLES | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounts Receivable, Net [Abstract] | ' | ||||||||||||
Receivables [Text Block] | ' | ||||||||||||
Note 11. RECEIVABLES | |||||||||||||
Receivables include: | |||||||||||||
December 31, | |||||||||||||
Dollars in Millions | 2013 | 2012 | |||||||||||
Trade receivables | $ | 1,779 | $ | 1,812 | |||||||||
Less allowances | (89 | ) | (104 | ) | |||||||||
Net trade receivables | 1,690 | 1,708 | |||||||||||
Alliance partners receivables | 1,122 | 857 | |||||||||||
Prepaid and refundable income taxes | 262 | 319 | |||||||||||
Miscellaneous receivables | 286 | 199 | |||||||||||
Receivables | $ | 3,360 | $ | 3,083 | |||||||||
Non-U.S. receivables sold on a nonrecourse basis were $1,031 million in 2013, $956 million in 2012, and $1,077 million in 2011. In the aggregate, receivables from three pharmaceutical wholesalers in the U.S. represented 40% and 37% of total trade receivables at December 31, 2013 and 2012, respectively. | |||||||||||||
Changes to the allowances for bad debt, charge-backs and cash discounts were as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||
Balance at beginning of year | $ | 104 | $ | 147 | $ | 107 | |||||||
Provision | 720 | 832 | 1,094 | ||||||||||
Utilization | (731 | ) | (875 | ) | (1,054 | ) | |||||||
Assets held-for-sale | (4 | ) | — | — | |||||||||
Balance at end of year | $ | 89 | $ | 104 | $ | 147 | |||||||
INVENTORIES
INVENTORIES | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Inventory, Net [Abstract] | ' | ||||||||
Inventories [Text Block] | ' | ||||||||
Note 12. INVENTORIES | |||||||||
Inventories include: | |||||||||
December 31, | |||||||||
Dollars in Millions | 2013 | 2012 | |||||||
Finished goods | $ | 491 | $ | 572 | |||||
Work in process | 757 | 814 | |||||||
Raw and packaging materials | 250 | 271 | |||||||
Inventories | $ | 1,498 | $ | 1,657 | |||||
Inventories expected to remain on-hand beyond one year are included in other assets and were $351 million at December 31, 2013 and $424 million at December 31, 2012. |
PROPERTY_PLANT_AND_EQUIPMENT
PROPERTY, PLANT AND EQUIPMENT | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment [Text Block] | ' | ||||||||
Note 13. PROPERTY, PLANT AND EQUIPMENT | |||||||||
Property, plant and equipment includes: | |||||||||
December 31, | |||||||||
Dollars in Millions | 2013 | 2012 | |||||||
Land | $ | 109 | $ | 114 | |||||
Buildings | 4,748 | 4,963 | |||||||
Machinery, equipment and fixtures | 3,699 | 3,695 | |||||||
Construction in progress | 287 | 611 | |||||||
Gross property, plant and equipment | 8,843 | 9,383 | |||||||
Less accumulated depreciation | (4,264 | ) | (4,050 | ) | |||||
Property, plant and equipment | $ | 4,579 | $ | 5,333 | |||||
Property, plant and equipment related to the Mount Vernon, Indiana manufacturing facility was approximately $300 million as of December 31, 2013. The facility is expected to be sold no earlier than 18 months following the closing of the diabetes business transaction. It was not included in assets held-for-sale because the assets were not available for immediate sale in their present condition and are not expected to be sold within a year. See "—Note 3. Alliances” for further discussion on the sale of the diabetes business. | |||||||||
Depreciation expense was $453 million in 2013, $382 million in 2012 and $448 million in 2011. |
GOODWILL_AND_OTHER_INTANGIBLE_
GOODWILL AND OTHER INTANGIBLE ASSETS | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Text Block] | ' | ||||||||||||||||||||||||||
Note 14. GOODWILL AND OTHER INTANGIBLE ASSETS | |||||||||||||||||||||||||||
Changes in the carrying amount of goodwill were as follows: | |||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||
Dollars in Millions | 2013 | 2012 | |||||||||||||||||||||||||
Carrying amount of goodwill at January 1 | $ | 7,635 | $ | 5,586 | |||||||||||||||||||||||
Acquisitions: | |||||||||||||||||||||||||||
Inhibitex | — | 1,213 | |||||||||||||||||||||||||
Amylin | 11 | 836 | |||||||||||||||||||||||||
Assets held-for-sale | (550 | ) | — | ||||||||||||||||||||||||
Carrying amount of goodwill at December 31 | $ | 7,096 | $ | 7,635 | |||||||||||||||||||||||
In the first quarter of 2013, the purchase price allocation was finalized for the Amylin acquisition resulting in an $11 million adjustment to goodwill and deferred income taxes. Goodwill of $550 million was allocated to the sale of the diabetes business and included in assets held-for-sale. See“—Note 5. Assets Held-For-Sale” for further discussion. | |||||||||||||||||||||||||||
Other intangible assets include: | |||||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||||||||
Dollars in Millions | Estimated | Gross | Accumulated | Net | Gross | Accumulated | Net | ||||||||||||||||||||
Useful Lives | Carrying | Amortization | Carrying | Carrying | Amortization | Carrying | |||||||||||||||||||||
Amount | Amount | Amount | Amount | ||||||||||||||||||||||||
Licenses | 5 – 15 years | $ | 1,162 | $ | 637 | $ | 525 | $ | 1,160 | $ | 534 | $ | 626 | ||||||||||||||
Developed technology rights | 9 – 15 years | 2,486 | 1,482 | 1,004 | 8,827 | 1,604 | 7,223 | ||||||||||||||||||||
Capitalized software | 3 – 10 years | 1,240 | 999 | 241 | 1,200 | 939 | 261 | ||||||||||||||||||||
Total finite-lived intangible assets | 4,888 | 3,118 | 1,770 | 11,187 | 3,077 | 8,110 | |||||||||||||||||||||
IPRD | 548 | — | 548 | 668 | — | 668 | |||||||||||||||||||||
Total other intangible assets | $ | 5,436 | $ | 3,118 | $ | 2,318 | $ | 11,855 | $ | 3,077 | $ | 8,778 | |||||||||||||||
Changes in other intangible assets were as follows: | |||||||||||||||||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||||||||||||||||
Other intangible assets carrying amount at January 1 | $ | 8,778 | $ | 3,124 | $ | 3,370 | |||||||||||||||||||||
Capitalized software and other additions | 80 | 60 | 75 | ||||||||||||||||||||||||
Acquisitions | — | 8,335 | 160 | ||||||||||||||||||||||||
Amortization expense | (858 | ) | (607 | ) | (353 | ) | |||||||||||||||||||||
Impairment charges | — | (2,134 | ) | (30 | ) | ||||||||||||||||||||||
Assets held-for-sale | (5,682 | ) | — | — | |||||||||||||||||||||||
Other | — | — | (98 | ) | |||||||||||||||||||||||
Other intangible assets, net carrying amount at December 31 | $ | 2,318 | $ | 8,778 | $ | 3,124 | |||||||||||||||||||||
Developed technology rights of $5,562 million and IPRD of $120 million related to the sale of the diabetes business were reclassified to assets held-for-sale as of December 31, 2013. See “—Note 5. Assets Held-For-Sale” for further discussion. | |||||||||||||||||||||||||||
Annual amortization expense of other intangible assets is expected to be approximately $300 million in 2014, $200 million in 2015, $200 million in 2016, $200 million in 2017, $150 million in 2018 and $720 million thereafter. | |||||||||||||||||||||||||||
BMS announced the discontinued development of BMS-986094 (formerly known as INX-189), a nucleotide polymerase (NS5B) inhibitor that was in Phase II development for the treatment of the hepatitis C virus infection in August 2012. The decision was made in the interest of patient safety, based on a rapid, thorough and ongoing assessment of patients in a Phase II study that was voluntarily suspended on August 2012. BMS acquired BMS-986094 with its acquisition of Inhibitex in February 2012. As a result of the termination of this development program, a $1,830 million pre-tax impairment charge was recognized for the IPRD intangible asset. | |||||||||||||||||||||||||||
An impairment charge of $120 million was recognized in 2012 related to continued competitive pricing pressures and a partial write-down to fair value of developed technology rights related to a previously acquired non-key product. |
ACCRUED_EXPENSES
ACCRUED EXPENSES | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Accrued Liabilities, Current [Abstract] | ' | ||||||||
Accrued Expenses [Text Block] | ' | ||||||||
Note 15. ACCRUED EXPENSES | |||||||||
Accrued expenses include: | |||||||||
December 31, | |||||||||
Dollars in Millions | 2013 | 2012 | |||||||
Employee compensation and benefits | $ | 735 | $ | 844 | |||||
Royalties | 173 | 152 | |||||||
Accrued research and development | 380 | 418 | |||||||
Restructuring - current | 73 | 120 | |||||||
Pension and postretirement benefits | 47 | 49 | |||||||
Accrued litigation | 65 | 162 | |||||||
Other | 679 | 828 | |||||||
Total accrued expenses | $ | 2,152 | $ | 2,573 | |||||
SALES_REBATES_AND_RETURN_ACCRU
SALES REBATES AND RETURN ACCRUALS | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Sales Rebates And Return Accruals [Abstract] | ' | ||||||||
Sales Rebates And Return Accruals [Text Block] | ' | ||||||||
Note 16. SALES REBATES AND RETURN ACCRUALS | |||||||||
Reductions to trade receivables and accrued rebates and returns liabilities are as follows: | |||||||||
December 31, | |||||||||
Dollars in Millions | 2013 | 2012 | |||||||
Charge-backs related to government programs | $ | 37 | $ | 41 | |||||
Cash discounts | 12 | 13 | |||||||
Reductions to trade receivables | $ | 49 | $ | 54 | |||||
Managed healthcare rebates and other contract discounts | $ | 147 | $ | 175 | |||||
Medicaid rebates | 227 | 351 | |||||||
Sales returns | 279 | 345 | |||||||
Other adjustments | 236 | 183 | |||||||
Accrued rebates and returns | $ | 889 | $ | 1,054 | |||||
DEFERRED_INCOME
DEFERRED INCOME | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Deferred Income [Abstract] | ' | ||||||||
Deferred Income [Text Block] | ' | ||||||||
Note 17. DEFERRED INCOME | |||||||||
Deferred income includes: | |||||||||
December 31, | |||||||||
Dollars in Millions | 2013 | 2012 | |||||||
Upfront, milestone and other licensing receipts | $ | 970 | $ | 4,346 | |||||
Atripla* deferred revenue | 468 | 339 | |||||||
Gain on sale-leaseback transactions | 71 | 99 | |||||||
Other | 16 | 65 | |||||||
Total deferred income | $ | 1,525 | $ | 4,849 | |||||
Current portion | $ | 756 | $ | 825 | |||||
Non-current portion | 769 | 4,024 | |||||||
Upfront, milestone and other licensing receipts are amortized over the expected life of the product. For further information pertaining to upfront, milestone and other licensing receipts and deferred revenue related to Atripla*, see“—Note 3. Alliances”. Deferred gains on several sale-leaseback transactions are amortized over the remaining lease terms of the related facilities through 2018. Amortization of deferred income was $548 million in 2013, $308 million in 2012 and $173 million in 2011. | |||||||||
Deferred income of $3,671 million was included in liabilities related to assets held-for-sale at December 31, 2013. See“—Note 5. Assets Held-For-Sale” for further discussion. |
EQUITY
EQUITY | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||||||||||
Stockholders' Equity Note Disclosure [Text Block] | ' | ||||||||||||||||||||||||||
Note 18. EQUITY | |||||||||||||||||||||||||||
Common Stock | Capital in Excess | Retained | Treasury Stock | Noncontrolling | |||||||||||||||||||||||
of Par Value | Earnings | Interest | |||||||||||||||||||||||||
Dollars and Shares in Millions | Shares | Par Value | of Stock | Shares | Cost | ||||||||||||||||||||||
Balance at January 1, 2011 | 2,205 | $ | 220 | $ | 3,682 | $ | 31,636 | 501 | $ | (17,454 | ) | $ | (75 | ) | |||||||||||||
Net earnings | — | — | — | 3,709 | — | — | 2,333 | ||||||||||||||||||||
Cash dividends declared | — | — | — | (2,276 | ) | — | — | — | |||||||||||||||||||
Stock repurchase program | — | — | — | — | 42 | (1,226 | ) | — | |||||||||||||||||||
Employee stock compensation plans | — | — | (568 | ) | — | (28 | ) | 1,278 | — | ||||||||||||||||||
Other comprehensive income attributable to noncontrolling interest | — | — | — | — | — | — | 7 | ||||||||||||||||||||
Distributions | — | — | — | — | — | — | (2,354 | ) | |||||||||||||||||||
Balance at December 31, 2011 | 2,205 | 220 | 3,114 | 33,069 | 515 | (17,402 | ) | (89 | ) | ||||||||||||||||||
Net earnings | — | — | — | 1,960 | — | — | 850 | ||||||||||||||||||||
Cash dividends declared | — | — | — | (2,296 | ) | — | — | — | |||||||||||||||||||
Stock repurchase program | — | — | — | — | 73 | (2,407 | ) | — | |||||||||||||||||||
Employee stock compensation plans | 3 | 1 | (420 | ) | — | (18 | ) | 986 | — | ||||||||||||||||||
Other comprehensive income attributable to noncontrolling interest | — | — | — | — | — | — | (6 | ) | |||||||||||||||||||
Distributions | — | — | — | — | — | — | (740 | ) | |||||||||||||||||||
Balance at December 31, 2012 | 2,208 | 221 | 2,694 | 32,733 | 570 | (18,823 | ) | 15 | |||||||||||||||||||
Net earnings | — | — | — | 2,563 | — | — | 38 | ||||||||||||||||||||
Cash dividends declared | — | — | — | (2,344 | ) | — | — | — | |||||||||||||||||||
Stock repurchase program | — | — | — | — | 11 | (413 | ) | — | |||||||||||||||||||
Employee stock compensation plans | — | — | (772 | ) | — | (22 | ) | 1,436 | — | ||||||||||||||||||
Distributions | — | — | — | — | — | — | 29 | ||||||||||||||||||||
Balance at December 31, 2013 | 2,208 | $ | 221 | $ | 1,922 | $ | 32,952 | 559 | $ | (17,800 | ) | $ | 82 | ||||||||||||||
Treasury stock is recognized at the cost to reacquire the shares. Shares issued from treasury are recognized utilizing the first-in first-out method. | |||||||||||||||||||||||||||
In May 2010, the Board of Directors authorized the repurchase of up to $3.0 billion of common stock. In June 2012, the Board of Directors increased its authorization for the repurchase of stock by an additional $3.0 billion. The repurchase program does not have an expiration date and we may consider future repurchases. | |||||||||||||||||||||||||||
Noncontrolling interest is primarily related to the Plavix* and Avapro*/Avalide* partnerships with Sanofi for the territory covering the Americas. Net earnings attributable to noncontrolling interest are presented net of taxes of $20 million in 2013, $317 million in 2012 and $792 million in 2011 with a corresponding increase to the provision for income taxes. Distribution of the partnership profits to Sanofi and Sanofi’s funding of ongoing partnership operations occur on a routine basis. The above activity includes the pre-tax income and distributions related to these partnerships. | |||||||||||||||||||||||||||
The components of other comprehensive income/(loss) were as follows: | |||||||||||||||||||||||||||
Dollars in Millions | Pretax | Tax | After Tax | ||||||||||||||||||||||||
2011 | |||||||||||||||||||||||||||
Derivatives qualifying as cash flow hedges:(a) | |||||||||||||||||||||||||||
Unrealized gains | $ | 28 | $ | (4 | ) | $ | 24 | ||||||||||||||||||||
Reclassified to net earnings | 52 | (20 | ) | 32 | |||||||||||||||||||||||
Derivatives qualifying as cash flow hedges | 80 | (24 | ) | 56 | |||||||||||||||||||||||
Pension and other postretirement benefits: | |||||||||||||||||||||||||||
Actuarial losses | (1,251 | ) | 421 | (830 | ) | ||||||||||||||||||||||
Amortization(b) | 115 | (34 | ) | 81 | |||||||||||||||||||||||
Settlements and curtailments(c) | 11 | (4 | ) | 7 | |||||||||||||||||||||||
Pension and other postretirement benefits | (1,125 | ) | 383 | (742 | ) | ||||||||||||||||||||||
Available for sale securities, unrealized gains | 35 | (7 | ) | 28 | |||||||||||||||||||||||
Foreign currency translation | (16 | ) | — | (16 | ) | ||||||||||||||||||||||
$ | (1,026 | ) | $ | 352 | $ | (674 | ) | ||||||||||||||||||||
2012 | |||||||||||||||||||||||||||
Derivatives qualifying as cash flow hedges:(a) | |||||||||||||||||||||||||||
Unrealized gains | $ | 26 | $ | (17 | ) | $ | 9 | ||||||||||||||||||||
Reclassified to net earnings | (56 | ) | 20 | (36 | ) | ||||||||||||||||||||||
Derivatives qualifying as cash flow hedges | (30 | ) | 3 | (27 | ) | ||||||||||||||||||||||
Pension and other postretirement benefits: | |||||||||||||||||||||||||||
Actuarial losses | (432 | ) | 121 | (311 | ) | ||||||||||||||||||||||
Amortization(b) | 133 | (43 | ) | 90 | |||||||||||||||||||||||
Settlements and curtailments(c) | 159 | (56 | ) | 103 | |||||||||||||||||||||||
Pension and other postretirement benefits | (140 | ) | 22 | (118 | ) | ||||||||||||||||||||||
Available for sale securities: | |||||||||||||||||||||||||||
Unrealized gains | 20 | (8 | ) | 12 | |||||||||||||||||||||||
Realized gains(d) | (11 | ) | 2 | (9 | ) | ||||||||||||||||||||||
Available for sale securities | 9 | (6 | ) | 3 | |||||||||||||||||||||||
Foreign currency translation | (15 | ) | — | (15 | ) | ||||||||||||||||||||||
$ | (176 | ) | $ | 19 | $ | (157 | ) | ||||||||||||||||||||
2013 | |||||||||||||||||||||||||||
Derivatives qualifying as cash flow hedges:(a) | |||||||||||||||||||||||||||
Unrealized gains | $ | 58 | $ | (17 | ) | $ | 41 | ||||||||||||||||||||
Reclassified to net earnings | (56 | ) | 22 | (34 | ) | ||||||||||||||||||||||
Derivatives qualifying as cash flow hedges | 2 | 5 | 7 | ||||||||||||||||||||||||
Pension and other postretirement benefits: | |||||||||||||||||||||||||||
Actuarial gains | 1,475 | (504 | ) | 971 | |||||||||||||||||||||||
Amortization(b) | 129 | (43 | ) | 86 | |||||||||||||||||||||||
Settlements(c) | 165 | (56 | ) | 109 | |||||||||||||||||||||||
Pension and other postretirement benefits | 1,769 | (603 | ) | 1,166 | |||||||||||||||||||||||
Available for sale securities: | |||||||||||||||||||||||||||
Unrealized losses | (35 | ) | 3 | (32 | ) | ||||||||||||||||||||||
Realized gains(d) | (8 | ) | 3 | (5 | ) | ||||||||||||||||||||||
Available for sale securities | (43 | ) | 6 | (37 | ) | ||||||||||||||||||||||
Foreign currency translation | (75 | ) | — | (75 | ) | ||||||||||||||||||||||
$ | 1,653 | $ | (592 | ) | $ | 1,061 | |||||||||||||||||||||
(a) | Reclassifications to net earnings of derivatives qualifying as effective hedges are recognized in costs of products sold. | ||||||||||||||||||||||||||
(b) | Actuarial losses and prior service cost/(credits) are amortized into cost of products sold, research and development, and marketing, selling and administrative expenses. | ||||||||||||||||||||||||||
(c) | Pension settlements and curtailments are recognized in other (income)/expense. | ||||||||||||||||||||||||||
(d) | Realized (gains)/losses on available for sale securities are recognized in other (income)/expense. | ||||||||||||||||||||||||||
The accumulated balances related to each component of other comprehensive income/(loss), net of taxes, were as follows: | |||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||
Dollars in Millions | 2013 | 2012 | |||||||||||||||||||||||||
Derivatives qualifying as cash flow hedges | $ | 16 | $ | 9 | |||||||||||||||||||||||
Pension and other postretirement benefits | (1,857 | ) | (3,023 | ) | |||||||||||||||||||||||
Available for sale securities | 28 | 65 | |||||||||||||||||||||||||
Foreign currency translation | (328 | ) | (253 | ) | |||||||||||||||||||||||
Accumulated other comprehensive income/(loss) | $ | (2,141 | ) | $ | (3,202 | ) |
PENSION_AND_POSTRETIREMENT_BEN
PENSION AND POSTRETIREMENT BENEFIT PLANS | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||
Pension and Other Postretirement Benefits Disclosure [Text Block] | ' | ||||||||||||||||||||||||||||||||
Note 19. PENSION, POSTRETIREMENT AND POSTEMPLOYMENT LIABILITIES | |||||||||||||||||||||||||||||||||
The Company and certain of its subsidiaries sponsor defined benefit pension plans, defined contribution plans and termination indemnity plans for regular full-time employees. The principal defined benefit pension plan is the Bristol-Myers Squibb Retirement Income Plan, which covers most U.S. employees and represents approximately 71% and 64% of the consolidated pension plan assets and obligations respectively. The funding policy is to contribute at least the minimum amount required by the Employee Retirement Income Security Act of 1974 (ERISA). Plan benefits are based primarily on the participant’s years of credited service and final average compensation. Plan assets consist principally of equity and fixed-income securities. | |||||||||||||||||||||||||||||||||
Comprehensive medical and group life benefits are provided for substantially all U.S. retirees who elect to participate in comprehensive medical and group life plans. The medical plan is contributory. Contributions are adjusted periodically and vary by date of retirement. The life insurance plan is noncontributory. Plan assets consist principally of equity and fixed-income securities. Similar plans exist for employees in certain countries outside of the U.S. | |||||||||||||||||||||||||||||||||
The net periodic benefit (credit)/cost of defined benefit pension and postretirement benefit plans includes: | |||||||||||||||||||||||||||||||||
Pension Benefits | Other Benefits | ||||||||||||||||||||||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||
Service cost — benefits earned during the year | $ | 38 | $ | 32 | $ | 43 | $ | 8 | $ | 8 | $ | 8 | |||||||||||||||||||||
Interest cost on projected benefit obligation | 302 | 319 | 337 | 13 | 22 | 26 | |||||||||||||||||||||||||||
Expected return on plan assets | (519 | ) | (508 | ) | (464 | ) | (26 | ) | (25 | ) | (26 | ) | |||||||||||||||||||||
Amortization of prior service credits | (4 | ) | (3 | ) | (1 | ) | (2 | ) | (2 | ) | (3 | ) | |||||||||||||||||||||
Amortization of net actuarial loss | 134 | 129 | 112 | 1 | 10 | 7 | |||||||||||||||||||||||||||
Curtailments | — | (1 | ) | (3 | ) | — | — | (1 | ) | ||||||||||||||||||||||||
Settlements | 165 | 160 | 15 | — | — | — | |||||||||||||||||||||||||||
Total net periodic benefit (credit)/cost | $ | 116 | $ | 128 | $ | 39 | $ | (6 | ) | $ | 13 | $ | 11 | ||||||||||||||||||||
Pension settlement charges were recognized after determining the annual lump sum payments will exceed the annual interest and service costs for certain pension plans, including the primary U.S. pension plan in 2013 and 2012. | |||||||||||||||||||||||||||||||||
Changes in defined benefit and postretirement benefit plan obligations, assets, funded status and amounts recognized in the consolidated balance sheets were as follows: | |||||||||||||||||||||||||||||||||
Pension Benefits | Other Benefits | ||||||||||||||||||||||||||||||||
Dollars in Millions | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||
Benefit obligations at beginning of year | $ | 8,200 | $ | 7,499 | $ | 460 | $ | 582 | |||||||||||||||||||||||||
Service cost—benefits earned during the year | 38 | 32 | 8 | 8 | |||||||||||||||||||||||||||||
Interest cost | 302 | 319 | 13 | 22 | |||||||||||||||||||||||||||||
Plan participants’ contributions | 2 | 2 | 23 | 24 | |||||||||||||||||||||||||||||
Curtailments | — | (19 | ) | — | — | ||||||||||||||||||||||||||||
Settlements | (350 | ) | (260 | ) | — | — | |||||||||||||||||||||||||||
Plan amendments | (1 | ) | (8 | ) | — | — | |||||||||||||||||||||||||||
Actuarial losses/(gains) | (761 | ) | 838 | (43 | ) | (107 | ) | ||||||||||||||||||||||||||
Retiree Drug Subsidy | — | — | 6 | 6 | |||||||||||||||||||||||||||||
Benefits paid | (206 | ) | (227 | ) | (63 | ) | (76 | ) | |||||||||||||||||||||||||
Exchange rate losses | 9 | 24 | — | 1 | |||||||||||||||||||||||||||||
Benefit obligations at end of year | $ | 7,233 | $ | 8,200 | $ | 404 | $ | 460 | |||||||||||||||||||||||||
Fair value of plan assets at beginning of year | $ | 6,542 | $ | 5,842 | $ | 311 | $ | 305 | |||||||||||||||||||||||||
Actual return on plan assets | 1,154 | 761 | 61 | 41 | |||||||||||||||||||||||||||||
Employer contributions | 251 | 396 | 9 | 11 | |||||||||||||||||||||||||||||
Plan participants’ contributions | 2 | 2 | 23 | 24 | |||||||||||||||||||||||||||||
Settlements | (350 | ) | (260 | ) | — | — | |||||||||||||||||||||||||||
Retiree Drug Subsidy | — | — | 6 | 6 | |||||||||||||||||||||||||||||
Benefits paid | (206 | ) | (227 | ) | (63 | ) | (76 | ) | |||||||||||||||||||||||||
Exchange rate gains | 13 | 28 | — | — | |||||||||||||||||||||||||||||
Fair value of plan assets at end of year | $ | 7,406 | $ | 6,542 | $ | 347 | $ | 311 | |||||||||||||||||||||||||
Funded status | $ | 173 | $ | (1,658 | ) | $ | (57 | ) | $ | (149 | ) | ||||||||||||||||||||||
Assets/(Liabilities) recognized: | |||||||||||||||||||||||||||||||||
Other assets | $ | 731 | $ | 22 | $ | 87 | $ | 12 | |||||||||||||||||||||||||
Accrued expenses | (35 | ) | (37 | ) | (12 | ) | (12 | ) | |||||||||||||||||||||||||
Pension and other postretirement liabilities | (523 | ) | (1,643 | ) | (132 | ) | (149 | ) | |||||||||||||||||||||||||
Funded status | $ | 173 | $ | (1,658 | ) | $ | (57 | ) | $ | (149 | ) | ||||||||||||||||||||||
Recognized in accumulated other comprehensive loss: | |||||||||||||||||||||||||||||||||
Net actuarial losses/(gains) | $ | 2,878 | $ | 4,572 | $ | (44 | ) | $ | 34 | ||||||||||||||||||||||||
Net obligation at adoption | — | 1 | — | — | |||||||||||||||||||||||||||||
Prior service credit | (41 | ) | (44 | ) | (4 | ) | (6 | ) | |||||||||||||||||||||||||
Total | $ | 2,837 | $ | 4,529 | $ | (48 | ) | $ | 28 | ||||||||||||||||||||||||
The accumulated benefit obligation for all defined benefit pension plans was $7,125 million and $8,068 million at December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||||
Additional information related to pension plans was as follows: | |||||||||||||||||||||||||||||||||
Dollars in Millions | 2013 | 2012 | |||||||||||||||||||||||||||||||
Pension plans with projected benefit obligations in excess of plan assets: | |||||||||||||||||||||||||||||||||
Projected benefit obligation | $ | 1,291 | $ | 8,112 | |||||||||||||||||||||||||||||
Fair value of plan assets | 732 | 6,432 | |||||||||||||||||||||||||||||||
Pension plans with accumulated benefit obligations in excess of plan assets: | |||||||||||||||||||||||||||||||||
Accumulated benefit obligation | $ | 1,101 | $ | 7,987 | |||||||||||||||||||||||||||||
Fair value of plan assets | 608 | 6,432 | |||||||||||||||||||||||||||||||
Actuarial Assumptions | |||||||||||||||||||||||||||||||||
Weighted-average assumptions used to determine benefit obligations at December 31 were as follows: | |||||||||||||||||||||||||||||||||
Pension Benefits | Other Benefits | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Discount rate | 4.4 | % | 3.7 | % | 3.8 | % | 3 | % | |||||||||||||||||||||||||
Rate of compensation increase | 2.3 | % | 2.3 | % | 2.1 | % | 2 | % | |||||||||||||||||||||||||
Weighted-average actuarial assumptions used to determine net periodic benefit (credit)/cost for the years ended December 31 were as follows: | |||||||||||||||||||||||||||||||||
Pension Benefits | Other Benefits | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||
Discount rate | 4.1 | % | 4.4 | % | 5.2 | % | 3 | % | 4.1 | % | 4.8 | % | |||||||||||||||||||||
Expected long-term return on plan assets | 8 | % | 8.2 | % | 8.3 | % | 8.8 | % | 8.8 | % | 8.8 | % | |||||||||||||||||||||
Rate of compensation increase | 2.3 | % | 2.3 | % | 2.4 | % | 2.1 | % | 2 | % | 2 | % | |||||||||||||||||||||
The yield on high quality corporate bonds that matches the duration of the benefit obligations is used in determining the discount rate. The Citigroup Pension Discount curve is used in developing the discount rate for the U.S. plans. | |||||||||||||||||||||||||||||||||
Several factors are considered in developing the expected return on plan assets, including long-term historical returns and input from external advisors. Individual asset class return forecasts were developed based upon market conditions, for example, price-earnings levels and yields and long-term growth expectations. The expected long-term rate of return is the weighted-average of the target asset allocation of each individual asset class. Historical long-term actual annualized returns for U.S. pension plans were as follows: | |||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||
10 years | 8 | % | 8.5 | % | 5.6 | % | |||||||||||||||||||||||||||
15 years | 6.8 | % | 6.5 | % | 7 | % | |||||||||||||||||||||||||||
20 years | 8.8 | % | 8.5 | % | 8.1 | % | |||||||||||||||||||||||||||
The accumulated other comprehensive loss was reduced by $1,475 million during 2013 as a result of actuarial gains attributed to the benefit obligation ($805 million) and higher than expected return on plan assets ($670 million). These actuarial gains resulted from prevailing equity and fixed income market conditions and an increase in interest rates in 2013. | |||||||||||||||||||||||||||||||||
The expected return on plan assets was determined using the expected rate of return and a calculated value of assets, referred to as the “market-related value”. The fair value of plan assets exceeded the market-related value by $455 million at December 31, 2013. Differences between the assumed and actual returns are amortized to the market-related value on a straight-line basis over a three-year period. | |||||||||||||||||||||||||||||||||
Gains and losses have resulted from changes in actuarial assumptions (such as changes in the discount rate) and from differences between assumed and actual experience (such as differences between actual and expected return on plan assets). These gains and losses (except those differences being amortized to the market-related value) are only amortized to the extent they exceed 10% of the higher of the market-related value or the projected benefit obligation for each respective plan. The majority of the remaining actuarial losses are amortized over the life expectancy of the plans’ participants for U.S. plans (28 years) and expected remaining service periods for most other plans into cost of products sold, research and development, and marketing, selling and administrative expenses. The amortization of net actuarial loss and prior service credit is expected to be approximately $100 million in 2014. | |||||||||||||||||||||||||||||||||
Assumed healthcare cost trend rates at December 31 were as follows: | |||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||
Healthcare cost trend rate assumed for next year | 6.4 | % | 6.8 | % | 7.4 | % | |||||||||||||||||||||||||||
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) | 4.5 | % | 4.5 | % | 4.5 | % | |||||||||||||||||||||||||||
Year that the rate reaches the ultimate trend rate | 2019 | 2018 | 2018 | ||||||||||||||||||||||||||||||
Assumed healthcare cost trend rates have an effect on the amounts reported for the healthcare plans. A one-percentage-point change in assumed healthcare cost trend rates would not have a material impact on the service and interest cost or post retirement benefit obligation. | |||||||||||||||||||||||||||||||||
Plan Assets | |||||||||||||||||||||||||||||||||
The fair value of pension and postretirement plan assets by asset category at December 31, 2013 and 2012 was as follows: | |||||||||||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||||||||||||||
Dollars in Millions | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||
Equity Securities | $ | 1,804 | $ | — | $ | — | $ | 1,804 | $ | 2,196 | $ | — | $ | — | $ | 2,196 | |||||||||||||||||
Equity Funds | 534 | 1,679 | — | 2,213 | 410 | 1,555 | — | 1,965 | |||||||||||||||||||||||||
Fixed Income Funds | 238 | 657 | — | 895 | 234 | 401 | — | 635 | |||||||||||||||||||||||||
Corporate Debt Securities | — | 1,410 | — | 1,410 | — | 453 | 3 | 456 | |||||||||||||||||||||||||
Venture Capital and Limited Partnerships | — | — | 369 | 369 | — | — | 381 | 381 | |||||||||||||||||||||||||
Government Mortgage Backed Securities | — | 1 | — | 1 | — | 350 | 8 | 358 | |||||||||||||||||||||||||
U.S. Treasury and Agency Securities | — | 514 | — | 514 | — | 259 | — | 259 | |||||||||||||||||||||||||
Short-Term Investment Funds | — | 122 | — | 122 | — | 189 | — | 189 | |||||||||||||||||||||||||
Insurance Contracts | — | — | 142 | 142 | — | — | 132 | 132 | |||||||||||||||||||||||||
Event Driven Hedge Funds | — | 122 | — | 122 | — | 92 | — | 92 | |||||||||||||||||||||||||
Collateralized Mortgage Obligation Bonds | — | — | — | — | — | 50 | 6 | 56 | |||||||||||||||||||||||||
State and Municipal Bonds | — | 24 | — | 24 | — | 44 | 3 | 47 | |||||||||||||||||||||||||
Asset Backed Securities | — | — | — | — | — | 23 | 3 | 26 | |||||||||||||||||||||||||
Real Estate | 4 | — | — | 4 | 3 | — | — | 3 | |||||||||||||||||||||||||
Cash and Cash Equivalents | 133 | — | — | 133 | 58 | — | — | 58 | |||||||||||||||||||||||||
Total plan assets at fair value | $ | 2,713 | $ | 4,529 | $ | 511 | $ | 7,753 | $ | 2,901 | $ | 3,416 | $ | 536 | $ | 6,853 | |||||||||||||||||
The investment valuation policies per investment class are as follows: | |||||||||||||||||||||||||||||||||
Level 1 inputs utilize quoted prices (unadjusted) in active markets that are accessible at the measurement date for identical assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs. These instruments include equity securities, equity funds, real estate funds and fixed income funds publicly traded on a national securities exchange, and cash and cash equivalents. Cash and cash equivalents are highly liquid investments with original maturities of three months or less at the time of purchase and are recognized at cost, which approximates fair value. Pending trade sales and purchases are included in cash and cash equivalents until final settlement. | |||||||||||||||||||||||||||||||||
Level 2 inputs include observable prices for similar instruments, quoted prices for identical or similar instruments in markets that are not active, and other observable inputs that can be corroborated by market data for substantially the full term of the assets or liabilities. Equity funds, fixed income funds, event driven hedge funds and short-term investment funds classified as Level 2 within the fair value hierarchy are valued at the net asset value of their shares held at year end. There were no significant unfunded commitments or restrictions on redemptions related to investments valued at NAV as of December 31, 2013. Corporate debt securities, government mortgage backed securities, collateralized mortgage obligation bonds, asset backed securities, U.S. treasury and agency securities, and state and municipal bonds classified as Level 2 within the fair value hierarchy are valued utilizing observable prices for similar instruments and quoted prices for identical or similar instruments in markets that are not active. | |||||||||||||||||||||||||||||||||
Level 3 unobservable inputs are used when little or no market data is available. Venture capital and limited partnerships classified as Level 3 within the fair value hierarchy invest in underlying securities whose market values are determined using pricing models, discounted cash flow methodologies, or similar techniques. Some of the most significant unobservable inputs used in the valuation methodologies include discount rates, Earning Before Interest, Taxes, Depreciation and Amortization (EBITDA) multiples, and revenue multiples. Significant changes in any of these inputs could result in significantly lower or higher fair value measurements. Insurance contract interests are carried at contract value, which approximates the estimated fair value and is based on the fair value of the underlying investment of the insurance company. Insurance contracts are held by certain foreign pension plans. Valuation models for corporate debt securities, government mortgage backed securities, collateralized mortgage obligation bonds and asset backed securities classified as Level 3 within the fair value hierarchy are based on estimated bids from brokers or other third-party vendor sources that utilize expected cash flow streams and collateral values including assessments of counterparty credit quality, default risk, discount rates and overall capital market liquidity. | |||||||||||||||||||||||||||||||||
The following summarizes the activity for financial assets utilizing Level 3 fair value measurements: | |||||||||||||||||||||||||||||||||
Dollars in Millions | Venture Capital | Insurance | Other | Total | |||||||||||||||||||||||||||||
and Limited | Contracts | ||||||||||||||||||||||||||||||||
Partnerships | |||||||||||||||||||||||||||||||||
Fair value at January 1, 2012 | $ | 408 | $ | 125 | $ | 33 | $ | 566 | |||||||||||||||||||||||||
Purchases | 43 | 5 | — | 48 | |||||||||||||||||||||||||||||
Sales | (8 | ) | (7 | ) | (10 | ) | (25 | ) | |||||||||||||||||||||||||
Settlements | (51 | ) | — | (2 | ) | (53 | ) | ||||||||||||||||||||||||||
Realized (losses)/gains | 53 | — | (4 | ) | 49 | ||||||||||||||||||||||||||||
Unrealized gains/(losses) | (64 | ) | 9 | 6 | (49 | ) | |||||||||||||||||||||||||||
Fair value at December 31, 2012 | 381 | 132 | 23 | 536 | |||||||||||||||||||||||||||||
Purchases | 22 | 4 | — | 26 | |||||||||||||||||||||||||||||
Sales | (12 | ) | (8 | ) | (4 | ) | (24 | ) | |||||||||||||||||||||||||
Settlements | (101 | ) | — | (19 | ) | (120 | ) | ||||||||||||||||||||||||||
Realized gains | 48 | 5 | — | 53 | |||||||||||||||||||||||||||||
Unrealized gains | 31 | 9 | — | 40 | |||||||||||||||||||||||||||||
Fair value at December 31, 2013 | $ | 369 | $ | 142 | $ | — | $ | 511 | |||||||||||||||||||||||||
The investment strategy emphasizes equities in order to achieve higher expected returns and lower expenses and required cash contributions over the long-term. A target asset allocation of 53% public equity (20% U.S. and 20% international and 13% global), 7% private equity and 40% long-duration fixed income is maintained for the U.S. pension plans. Investments are diversified within each of the three major asset categories. Approximately 95% of the U.S. pension plans equity investments are actively managed. Venture capital and limited partnerships are typically valued on a three month lag using latest available information. BMS common stock represents less than 1% of the plan assets at December 31, 2013 and 2012. | |||||||||||||||||||||||||||||||||
Contributions | |||||||||||||||||||||||||||||||||
Contributions to the U.S. pension plans were $184 million in 2013, $335 million in 2012 and $343 million in 2011. Contributions to the international pension plans were $67 million in 2013, $61 million in 2012 and $88 million in 2011. Aggregate contributions to the U.S. and international plans are expected to be approximately $100 million in 2014. | |||||||||||||||||||||||||||||||||
Estimated Future Benefit Payments | |||||||||||||||||||||||||||||||||
Pension | Other | ||||||||||||||||||||||||||||||||
Dollars in Millions | Benefits | Benefits | |||||||||||||||||||||||||||||||
2014 | $ | 411 | $ | 44 | |||||||||||||||||||||||||||||
2015 | 366 | 42 | |||||||||||||||||||||||||||||||
2016 | 377 | 40 | |||||||||||||||||||||||||||||||
2017 | 382 | 38 | |||||||||||||||||||||||||||||||
2018 | 380 | 35 | |||||||||||||||||||||||||||||||
Years 2019 – 2023 | 1,974 | 144 | |||||||||||||||||||||||||||||||
Savings Plans | |||||||||||||||||||||||||||||||||
The principal defined contribution plan is the Bristol-Myers Squibb Savings and Investment Program. The contribution is based on employee contributions and the level of Company match. The expense attributed to defined contribution plans in the U.S. were $190 million in both 2013 and 2012 and $181 million in 2011. | |||||||||||||||||||||||||||||||||
Post Employment Benefit Plans | |||||||||||||||||||||||||||||||||
Post-employment liabilities for long-term disability benefits were $63 million and $90 million at December 31, 2013 and 2012, respectively, with a related credit of $8 million in 2013 and expense of $17 million in 2012 and $18 million in 2011. | |||||||||||||||||||||||||||||||||
Termination Indemnity Plans | |||||||||||||||||||||||||||||||||
International statutory termination obligations are recognized on an undiscounted basis assuming employee termination at each measurement date. The liability recognized for these obligations was $23 million and $29 million at December 31, 2013 and 2012, respectively. |
EMPLOYEE_STOCK_BENEFIT_PLANS
EMPLOYEE STOCK BENEFIT PLANS | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | ||||||||||||||||||||||||||
Note 20. EMPLOYEE STOCK BENEFIT PLANS | |||||||||||||||||||||||||||
On May 1, 2012, the shareholders approved the 2012 Stock Award and Incentive Plan (the 2012 Plan), which replaced the 2007 Stock Incentive Plan. Shares of common stock reserved for issuance pursuant to stock plans, options and conversions of preferred stock were 262 million at December 31, 2013. Shares available to be granted for the active plans, adjusted for the combination of plans, were 114 million at December 31, 2013. Shares for the stock option exercise and share unit vesting are issued from treasury stock. Only shares actually delivered to participants in connection with an award after all restrictions have lapsed will reduce the number of shares reserved. Shares tendered in a prior year to pay the purchase price of options and shares previously utilized to satisfy withholding tax obligations upon exercise continue to be available and reserved. | |||||||||||||||||||||||||||
Executive officers and key employees may be granted options to purchase common stock at no less than the market price on the date the option is granted. Options generally become exercisable ratably over four years and have a maximum term of ten years. Additionally, the plan provides for the granting of stock appreciation rights whereby the grantee may surrender exercisable rights and receive common stock and/or cash measured by the excess of the market price of the common stock over the option exercise price. | |||||||||||||||||||||||||||
Common stock or stock units may be granted to key employees, subject to restrictions as to continuous employment. Restrictions expire over a four year period from date of grant. Compensation expense is recognized over the vesting period. A stock unit is a right to receive stock at the end of the specified vesting period but has no voting rights. | |||||||||||||||||||||||||||
Market share units were granted to certain executives beginning in 2010. Vesting is conditioned upon continuous employment until vesting date and the payout factor equals at least 60% of the share price on the award date. The payout factor is the share price on vesting date divided by share price on award date, with a maximum of 200%. The share price used in the payout factor is calculated using an average of the closing prices on the grant or vest date, and the nine trading days immediately preceding the grant or vest date. Vesting occurs ratably over four years. | |||||||||||||||||||||||||||
Long-term performance awards have a three year cycle and are delivered in the form of a target number of performance share units. The number of shares ultimately issued is calculated based on actual performance compared to earnings targets and other performance criteria established at the beginning of each year of the three year performance cycle. The awards have annual goals with a maximum payout of 167.5%. If threshold targets are not met for a performance period, no payment is made under the plan for that annual period. Vesting occurs at the end of the three year period. | |||||||||||||||||||||||||||
Stock-based compensation expense is based on awards ultimately expected to vest and is recognized over the vesting period. The acceleration of unvested stock options and restricted stock units in connection with the acquisition of Amylin resulted in stock-based compensation expense in 2012. Forfeitures are estimated based on historical experience at the time of grant and revised in subsequent periods if actual forfeitures differ from those estimates. Stock-based compensation expense was as follows: | |||||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||||||||||||||||
Stock options | $ | 2 | $ | 7 | $ | 27 | |||||||||||||||||||||
Restricted stock | 74 | 64 | 79 | ||||||||||||||||||||||||
Market share units | 29 | 23 | 23 | ||||||||||||||||||||||||
Long-term performance awards | 86 | 60 | 32 | ||||||||||||||||||||||||
Amylin stock options and restricted stock units (see Note 4) | — | 94 | — | ||||||||||||||||||||||||
Total stock-based compensation expense | $ | 191 | $ | 248 | $ | 161 | |||||||||||||||||||||
Income tax benefit | $ | 64 | $ | 82 | $ | 56 | |||||||||||||||||||||
Share-based compensation activities were as follows: | |||||||||||||||||||||||||||
Stock Options | Restricted Stock Units | Market Share Units | Long-Term Performance Awards | ||||||||||||||||||||||||
Number of | Weighted- | Number | Weighted- | Number | Weighted- | Number | Weighted- | ||||||||||||||||||||
Options Outstanding | Average | of | Average | of | Average | of | Average | ||||||||||||||||||||
Shares in Thousands | Exercise Price of Shares | Nonvested Awards | Grant-Date Fair Value | Nonvested Awards | Grant-Date Fair Value | Nonvested Awards | Grant-Date Fair Value | ||||||||||||||||||||
Balance at January 1, 2013 | 41,965 | $ | 23.21 | 7,568 | $ | 27.18 | 2,204 | 28.46 | 4,096 | 28.44 | |||||||||||||||||
Granted | — | — | 2,653 | 38.73 | 1,025 | 37.4 | 2,464 | 37.4 | |||||||||||||||||||
Released/Exercised | (18,029 | ) | 23.62 | (3,050 | ) | 24.36 | (809 | ) | 27.08 | (2,072 | ) | 27.26 | |||||||||||||||
Adjustments for actual payout | — | — | — | — | (298 | ) | 27.08 | 38 | 37.4 | ||||||||||||||||||
Forfeited/Canceled | (813 | ) | 23.19 | (619 | ) | 30.97 | (290 | ) | 31.51 | (234 | ) | 34.66 | |||||||||||||||
Balance at December 31, 2013 | 23,123 | 22.88 | 6,552 | 32.81 | 1,832 | 33.82 | 4,292 | 33.75 | |||||||||||||||||||
Vested or expected to vest | 23,123 | 22.88 | 6,053 | 32.81 | 1,692 | 33.82 | 3,965 | 33.75 | |||||||||||||||||||
Total compensation costs related to share-based payment awards not yet recognized and the weighted-average period over which such awards are expected to be recognized at December 31, 2013 were as follows: | |||||||||||||||||||||||||||
Restricted | Market | Long-Term | |||||||||||||||||||||||||
Performance | |||||||||||||||||||||||||||
Dollars in Millions | Stock Units | Share Units | Awards | ||||||||||||||||||||||||
Unrecognized compensation cost | $ | 155 | $ | 32 | $ | 27 | |||||||||||||||||||||
Expected weighted-average period in years of compensation cost to be recognized | 2.7 | 2.6 | 1.4 | ||||||||||||||||||||||||
Additional information related to share-based compensation awards is summarized as follows: | |||||||||||||||||||||||||||
Amounts in Millions, except per share data | 2013 | 2012 | 2011 | ||||||||||||||||||||||||
Weighted-average grant date fair value (per share): | |||||||||||||||||||||||||||
Restricted stock units | $ | 38.73 | $ | 32.71 | $ | 26.04 | |||||||||||||||||||||
Market share units | 37.4 | 31.85 | 25.83 | ||||||||||||||||||||||||
Long-term performance awards | 37.4 | 32.33 | 25.3 | ||||||||||||||||||||||||
Fair value of options or awards that vested during the year: | |||||||||||||||||||||||||||
Stock options | $ | 11 | $ | 23 | $ | 45 | |||||||||||||||||||||
Restricted stock units | 74 | 74 | 75 | ||||||||||||||||||||||||
Market share units | 30 | 18 | 8 | ||||||||||||||||||||||||
Long-term performance awards | 90 | 56 | 21 | ||||||||||||||||||||||||
Total intrinsic value of stock options exercised during the year | $ | 323 | $ | 153 | $ | 154 | |||||||||||||||||||||
The fair value of restricted stock units and long-term performance awards are determined based on the closing trading price of the Company’s common stock on the grant date. The fair value of market share units approximated the closing trading price of the Company's common stock on the grant date and was estimated on the date of the grant considering the payout formula and the probability of satisfying market conditions. | |||||||||||||||||||||||||||
The following table summarizes significant ranges of outstanding and exercisable options at December 31, 2013 (amounts in millions, except per share data): | |||||||||||||||||||||||||||
Options Outstanding and Exercisable | |||||||||||||||||||||||||||
Range of Exercise Prices | Number | Weighted-Average | Weighted-Average | Aggregate | |||||||||||||||||||||||
Outstanding and Exercisable (in thousands) | Remaining Contractual | Exercise Price | Intrinsic Value | ||||||||||||||||||||||||
Life (in years) | Per Share | ||||||||||||||||||||||||||
$1 - $20 | 6,457 | 5.16 | $ | 17.51 | $ | 230 | |||||||||||||||||||||
$20 - $30 | 16,660 | 2.49 | 24.96 | 470 | |||||||||||||||||||||||
$30 - $40 | 6 | 3.47 | 31.3 | — | |||||||||||||||||||||||
23,123 | 3.24 | 22.88 | $ | 700 | |||||||||||||||||||||||
The aggregate intrinsic value in the preceding table represents the total pre-tax intrinsic value, based on the closing stock price of $53.15 on December 31, 2013. |
LEASES
LEASES | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Leases, Operating [Abstract] | ' | ||||
Leases of Lessee Disclosure [Text Block] | ' | ||||
Note 21. LEASES | |||||
Minimum rental commitments for non-cancelable operating leases (primarily real estate and motor vehicles) in effect at December 31, 2013, were as follows: | |||||
Years Ending December 31, | Dollars in Millions | ||||
2014 | $ | 145 | |||
2015 | 137 | ||||
2016 | 117 | ||||
2017 | 77 | ||||
2018 | 65 | ||||
Later years | 73 | ||||
Total minimum rental commitments | $ | 614 | |||
Operating lease expense was $144 million in 2013, $142 million in 2012 and $136 million in 2011. Sublease income was not material for all periods presented. |
LEGAL_PROCEEDINGS_AND_CONTINGE
LEGAL PROCEEDINGS AND CONTINGENCIES | 12 Months Ended |
Dec. 31, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Legal Matters and Contingencies [Text Block] | ' |
Note 22. LEGAL PROCEEDINGS AND CONTINGENCIES | |
The Company and certain of its subsidiaries are involved in various lawsuits, claims, government investigations and other legal proceedings that arise in the ordinary course of business. The Company recognizes accruals for such contingencies when it is probable that a liability will be incurred and the amount of loss can be reasonably estimated. These matters involve patent infringement, antitrust, securities, pricing, sales and marketing practices, environmental, commercial, health and safety matters, consumer fraud, employment matters, product liability and insurance coverage. Legal proceedings that are material or that the Company believes could become material are described below. | |
Although the Company believes it has substantial defenses in these matters, there can be no assurance that there will not be an increase in the scope of pending matters or that any future lawsuits, claims, government investigations or other legal proceedings will not be material. Unless otherwise noted, the Company is unable to assess the outcome of the respective litigation nor is it able to provide an estimated range of potential loss. Furthermore, failure to enforce our patent rights would likely result in substantial decreases in the respective product revenues from generic competition. | |
INTELLECTUAL PROPERTY | |
Atripla* | |
In April 2009, Teva Pharmaceutical Industries Ltd. (Teva) filed an abbreviated New Drug Application (aNDA) to manufacture and market a generic version of Atripla*. Atripla* is a single tablet three-drug regimen combining the Company’s Sustiva (efavirenz) and Gilead’s Truvada*. As of this time, the Company’s U.S. patent rights covering Sustiva’s composition of matter and method of use have not been challenged. Teva sent Gilead a Paragraph IV certification letter challenging two of the fifteen Orange Book-listed patents for Atripla*. In May 2009, Gilead filed a patent infringement action against Teva in the U.S. District Court for the Southern District of New York (SDNY). In January 2010, the Company received a notice that Teva has amended its aNDA and is challenging eight additional Orange Book-listed patents for Atripla*. In March 2010, the Company and Merck, Sharp & Dohme Corp. (Merck) filed a patent infringement action against Teva also in the SDNY relating to two U.S. patents which claim crystalline or polymorph forms of efavirenz. In August 2013, the Company, Merck and Teva reached a settlement relating to the two efavirenz polymorph patents and the case has been dismissed. In March 2010, Gilead filed two patent infringement actions against Teva in the SDNY relating to six Orange Book-listed patents for Atripla* and in April 2013, Gilead and Teva reached an agreement in principle to settle the lawsuit on the patents covering tenofovir disoproxil fumarate contained in the Atripla* and Truvada* products. | |
Baraclude | |
In August 2010, Teva filed an aNDA to manufacture and market generic versions of Baraclude. The Company received a Paragraph IV certification letter from Teva challenging the one Orange Book-listed patent for Baraclude, U.S. Patent No. 5,206,244 (the ‘244 Patent), covering the entecavir molecule. In September 2010, the Company filed a patent infringement lawsuit in the U.S. District Court for the District of Delaware (Delaware District Court) against Teva for infringement. In February 2013, the Delaware District Court ruled against the Company and invalidated the ‘244 Patent. The Company has appealed the Delaware District Court’s decision and a decision is expected during the first-half of 2014. In October 2013, Teva's aNDA for its generic version of entecavir was tentatively approved by the FDA. The Company is prepared to take legal action in the event that Teva chooses to launch its generic product prior to the resolution of the Company's appeal. There could be a rapid and significant negative impact on U.S. net product sales of Baraclude beginning in early 2014. Net product sales of Baraclude in the U.S. were $289 million in 2013. | |
Baraclude — South Korea | |
In 2013, Daewoong Pharmaceutical Co. Ltd. and Hanmi Pharmaceuticals Co., Ltd. initiated separate invalidity actions in the Korean Intellectual Property Office (KIPO) against Korean Patent No. 160,523 (the ‘523 patent). The ‘523 patent expires in October 2015 and is the Korean equivalent of the ‘244 Patent, the U.S. composition of matter patent. The invalidity actions are pending and a decision is expected in the first half of 2014. Although the outcome of the actions are unclear at this time, there is a risk that a decision invalidating the patent will encourage generic companies to launch generic versions of Baraclude prior to October 2015. Net product sales of Baraclude in South Korea were $158 million in 2013. | |
Plavix*—Australia | |
As previously disclosed, Sanofi was notified that, in August 2007, GenRx Proprietary Limited (GenRx) obtained regulatory approval of an application for clopidogrel bisulfate 75mg tablets in Australia. GenRx, formerly a subsidiary of Apotex Inc. (Apotex), has since changed its name to Apotex. In August 2007, Apotex filed an application in the Federal Court of Australia (the Federal Court) seeking revocation of Sanofi’s Australian Patent No. 597784 (Case No. NSD 1639 of 2007). Sanofi filed counterclaims of infringement and sought an injunction. On September 21, 2007, the Federal Court granted Sanofi’s injunction. A subsidiary of the Company was subsequently added as a party to the proceedings. In February 2008, a second company, Spirit Pharmaceuticals Pty. Ltd., also filed a revocation suit against the same patent. This case was consolidated with the Apotex case and a trial occurred in April 2008. On August 12, 2008, the Federal Court of Australia held that claims of Patent No. 597784 covering clopidogrel bisulfate, hydrochloride, hydrobromide, and taurocholate salts were valid. The Federal Court also held that the process claims, pharmaceutical composition claims, and claim directed to clopidogrel and its pharmaceutically acceptable salts were invalid. The Company and Sanofi filed notices of appeal in the Full Court of the Federal Court of Australia (Full Court) appealing the holding of invalidity of the claim covering clopidogrel and its pharmaceutically acceptable salts, process claims, and pharmaceutical composition claims which have stayed the Federal Court’s ruling. Apotex filed a notice of appeal appealing the holding of validity of the clopidogrel bisulfate, hydrochloride, hydrobromide, and taurocholate claims. A hearing on the appeals occurred in February 2009. On September 29, 2009, the Full Court held all of the claims of Patent No. 597784 invalid. In November 2009, the Company and Sanofi applied to the High Court of Australia (High Court) for special leave to appeal the judgment of the Full Court. In March 2010, the High Court denied the Company and Sanofi’s request to hear the appeal of the Full Court decision. The case has been remanded to the Federal Court for further proceedings related to damages sought by Apotex. The Australian government has intervened in this matter and is also seeking damages for alleged losses experienced during the period when the injunction was in place. It is not possible at this time to predict the outcome of the Australian government’s claim or its impact on the Company. | |
Plavix*—Canada (Apotex, Inc.) | |
On April 22, 2009, Apotex filed an impeachment action against Sanofi in the Federal Court of Canada alleging that Sanofi’s Canadian Patent No. 1,336,777 (the ‘777 Patent) is invalid. On June 8, 2009, Sanofi filed its defense to the impeachment action and filed a suit against Apotex for infringement of the ‘777 Patent. The trial was completed in June 2011 and in December 2011, the Federal Court of Canada issued a decision that the ‘777 Patent is invalid. In July 2013, the Federal Court of Appeal reversed the Federal Court of Canada's decision and upheld the validity of the '777 Patent. The case was remanded to the Federal Court of Canada to consider the damages owed to the Company by Apotex for the infringement of the ‘777 patent. In September 2013, Apotex sought leave to appeal the decision of the Federal Court of Appeal to the Supreme Court of Canada and in February 2014, the Supreme Court of Canada decided to hear the case. | |
GENERAL COMMERCIAL LITIGATION | |
Remaining Apotex Matters Related to Plavix* | |
As previously disclosed, in November 2008, Apotex filed a lawsuit in New Jersey Superior Court against the Company and Sanofi, seeking payment of $60 million, plus interest calculated at the rate of 1% per month, until paid, related to the break-up of a March 2006 proposed settlement agreement relating to the-then pending Plavix* patent litigation against Apotex. In April 2011, the New Jersey Superior Court granted the Company’s cross-motion for summary judgment motion and denied Apotex’s motion for summary judgment. Apotex appealed these decisions and the New Jersey Appellate Division reversed the grant of summary judgments remanding the case back to the Superior Court for additional proceedings. The parties have now agreed to resolve this matter through binding arbitration, which is currently scheduled for March 2014. The resolution of this matter is not expected to have a material impact on the Company. | |
In January 2011, Apotex filed a lawsuit in Florida State Court, Broward County, alleging breach of contract relating to the May 2006 proposed settlement agreement with Apotex relating to the then pending Plavix* patent litigation. A trial was held in March 2013 and a jury verdict was delivered in favor of the Company. Apotex has appealed this decision. | |
PRICING, SALES AND PROMOTIONAL PRACTICES LITIGATION AND INVESTIGATIONS | |
Abilify* Federal Subpoena | |
In January 2012, the Company received a subpoena from the United States Attorney’s Office for the SDNY requesting information related to, among other things, the sales and marketing of Abilify*. It is not possible at this time to assess the outcome of this matter or its potential impact on the Company. | |
Abilify* State Attorneys General Investigation | |
In March 2009, the Company received a letter from the Delaware Attorney General’s Office advising of a multi-state coalition investigating whether certain Abilify* marketing practices violated those respective states’ consumer protection statutes. The Company has entered into a tolling agreement with the states. It is not possible at this time to reasonably assess the outcome of this investigation or its potential impact on the Company. | |
Abilify* Co-Pay Assistance Litigation | |
In March 2012, the Company and its partner Otsuka were named as co-defendants in a putative class action lawsuit filed by union health and welfare funds in the SDNY. Plaintiffs are challenging the legality of the Abilify* co-pay assistance program under the Federal Antitrust and the Racketeer Influenced and Corrupt Organizations (RICO) laws, and seeking damages. The Company and Otsuka filed a motion to dismiss the complaint. In June 2013, the Court granted the Company's motion, dismissing all claims but allowing plaintiffs to re-plead the RICO claim. In August 2013, the plaintiffs moved for leave to file an amended complaint, which motion the Court granted in part. One claim alleging tortious interference with contract remains outstanding against the Company. It is not possible at this time to reasonably assess the outcome of this litigation or its potential impact on the Company, although at this time, the resolution of this matter is not expected to have a material impact on the Company. | |
AWP Litigation | |
As previously disclosed, the Company, together with a number of other pharmaceutical manufacturers, has been a defendant in a number of private class actions as well as suits brought by the attorneys general of various states. In these actions, plaintiffs allege that defendants caused the Average Wholesale Prices (AWPs) of their products to be inflated, thereby injuring government programs, entities and persons who reimbursed prescription drugs based on AWPs. The Company remains a defendant in two state attorneys general suits pending in state courts in Pennsylvania and Wisconsin. Beginning in August 2010, the Company was the defendant in a trial in the Commonwealth Court of Pennsylvania (Commonwealth Court), brought by the Commonwealth of Pennsylvania. In September 2010, the jury issued a verdict for the Company, finding that the Company was not liable for fraudulent or negligent misrepresentation; however, the Commonwealth Court judge issued a decision on a Pennsylvania consumer protection claim that did not go to the jury, finding the Company liable for $28 million and enjoining the Company from contributing to the provision of inflated AWPs. The Company appealed the decision to the Pennsylvania Supreme Court and oral argument took place in May 2013. | |
Qui Tam Litigation | |
In March 2011, the Company was served with an unsealed qui tam complaint filed by three former sales representatives in California Superior Court, County of Los Angeles. The California Department of Insurance has elected to intervene in the lawsuit. The complaint alleges the Company paid kickbacks to California providers and pharmacies in violation of California Insurance Frauds Prevention Act, Cal. Ins. Code § 1871.7. It is not possible at this time to reasonably assess the outcome of this lawsuit or its impact on the Company. | |
PRODUCT LIABILITY LITIGATION | |
The Company is a party to various product liability lawsuits. As previously disclosed, in addition to lawsuits, the Company also faces unfiled claims involving its products. | |
Plavix* | |
As previously disclosed, the Company and certain affiliates of Sanofi are defendants in a number of individual lawsuits in various state and federal courts claiming personal injury damage allegedly sustained after using Plavix*. Currently, over 5,700 claims involving injury plaintiffs as well as claims by spouses and/or other beneficiaries, are filed in state and federal courts in various states including California, Illinois, New Jersey, Delaware and New York. In February 2013, the Judicial Panel on Multidistrict Litigation granted the Company and Sanofi’s motion to establish a multidistrict litigation to coordinate Federal pretrial proceedings in Plavix* product liability and related cases in New Jersey Federal Court. It is not possible at this time to reasonably assess the outcome of these lawsuits or the potential impact on the Company. | |
Reglan* | |
The Company is one of a number of defendants in numerous lawsuits, on behalf of approximately 3,000 plaintiffs, including injury plaintiffs claiming personal injury allegedly sustained after using Reglan* or another brand of the generic drug metoclopramide, a product indicated for gastroesophageal reflux and certain other gastrointestinal disorders, as well as claims by spouses and/or other beneficiaries. The Company, through its generic subsidiary, Apothecon, Inc., distributed metoclopramide tablets manufactured by another party between 1996 and 2000. It is not possible at this time to reasonably assess the outcome of these lawsuits. The resolution of these pending lawsuits, however, is not expected to have a material impact on the Company. | |
Hormone Replacement Therapy | |
The Company is one of a number of defendants in a mass-tort litigation in which plaintiffs allege, among other things, that various hormone therapy products, including hormone therapy products formerly manufactured by the Company (Estrace*, Estradiol, Delestrogen* and Ovcon*) cause breast cancer, stroke, blood clots, cardiac and other injuries in women, that the defendants were aware of these risks and failed to warn consumers. The Company has agreed to resolve the claims of approximately 400 plaintiffs and has also reached a settlement in principle to resolve an additional 29 claims. The Company remains a defendant in approximately three actively pending lawsuits in federal and state courts throughout the U.S. All of the Company’s hormone therapy products were sold to other companies between January 2000 and August 2001. The resolution of these remaining lawsuits is not expected to have a material impact on the Company. | |
Byetta* | |
Amylin, a former subsidiary of the Company, and Lilly are co-defendants in product liability litigation related to Byetta*. To date, there are over 280 separate lawsuits pending on behalf of approximately 1,100 plaintiffs, which include injury plaintiffs as well as claims by spouses and/or other beneficiaries, in various courts in the U.S. The Company has agreed in principle to resolve over 350 of these claims. The majority of these cases have been brought by individuals who allege personal injury sustained after using Byetta*, primarily pancreatic cancer and pancreatitis, and, in some cases, claiming alleged wrongful death. The majority of cases are pending in Federal Court in San Diego in a recently established multidistrict litigation, with the next largest contingent of cases pending in a coordinated proceeding in California Superior Court in Los Angeles. Amylin and Lilly are currently scheduled for trial in a single-plaintiff case in February 2014 in California Superior Court in Los Angeles. Amylin has product liability insurance covering a substantial number of claims involving Byetta* and any additional liability to Amylin with respect to Byetta* is expected to be shared between the Company and AstraZeneca. It is not possible to reasonably predict the outcome of any lawsuit, claim or proceeding or the potential impact on the Company. | |
BMS-986094 | |
In August 2012, the Company announced that it had discontinued development of BMS-986094, an investigational compound which was being tested in clinical trials to treat the hepatitis C virus infection due to the emergence of a serious safety issue. To date, the Company is aware of ten lawsuits that have been filed against the Company by plaintiffs in Texas, Oklahoma and Virginia, most of which were removed to Federal Court, alleging that they participated in clinical trials of BMS-986094 and suffered injuries as a result thereof. The Company has settled the vast majority of known claims, including eight of the filed claims. One claim filed in state court remains outstanding. The resolution of the remaining lawsuits and any other potential future lawsuits is not expected to have a material impact on the Company. | |
ENVIRONMENTAL PROCEEDINGS | |
As previously reported, the Company is a party to several environmental proceedings and other matters, and is responsible under various state, federal and foreign laws, including the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA), for certain costs of investigating and/or remediating contamination resulting from past industrial activity at the Company’s current or former sites or at waste disposal or reprocessing facilities operated by third-parties. | |
CERCLA Matters | |
With respect to CERCLA matters for which the Company is responsible under various state, federal and foreign laws, the Company typically estimates potential costs based on information obtained from the U.S. Environmental Protection Agency, or counterpart state or foreign agency and/or studies prepared by independent consultants, including the total estimated costs for the site and the expected cost-sharing, if any, with other “potentially responsible parties,” and the Company accrues liabilities when they are probable and reasonably estimable. The Company estimated its share of future costs for these sites to be $66 million at December 31, 2013, which represents the sum of best estimates or, where no best estimate can reasonably be made, estimates of the minimal probable amount among a range of such costs (without taking into account any potential recoveries from other parties). | |
New Brunswick Facility—Environmental & Personal Injury Lawsuits | |
Since May 2008, over 250 lawsuits have been filed against the Company in New Jersey Superior Court by or on behalf of current and former residents of New Brunswick, New Jersey who live or have lived adjacent to the Company’s New Brunswick facility. The complaints allege various personal injuries resulting from environmental contamination at the New Brunswick facility and historical operations at that site, or are claims for medical monitoring. A portion of these complaints also assert claims for alleged property damage. In October 2008, the New Jersey Supreme Court granted Mass Tort status to these cases and transferred them to the New Jersey Superior Court in Atlantic County for centralized case management purposes. Since October 2011, over 150 additional cases have been filed in New Jersey Superior Court and removed by the Company to United States District Court, District of New Jersey. Accordingly, there are in excess of 400 cases between the state and federal court actions. Discovery is ongoing. The first trial is currently scheduled to commence in state court in August 2014. The Company intends to defend itself vigorously in this litigation. It is not possible at this time to reasonably assess the outcome of these lawsuits or the potential impact on the Company. | |
North Brunswick Township Board of Education | |
As previously disclosed, in October 2003, the Company was contacted by counsel representing the North Brunswick, NJ Board of Education (BOE) regarding a site where waste materials from E.R. Squibb and Sons may have been disposed from the 1940’s through the 1960’s. Fill material containing industrial waste and heavy metals in excess of residential standards was discovered during an expansion project at the North Brunswick Township High School, as well as at a number of neighboring residential properties and adjacent public park areas. In January 2004, the New Jersey Department of Environmental Protection (NJDEP) sent the Company and others an information request letter about possible waste disposal at the site, to which the Company responded in March 2004. The BOE and the Township, as the current owners of the school property and the park, are conducting and jointly financing soil remediation work and ground water investigation work under a work plan approved by the NJDEP, and have asked the Company to contribute to the cost. The Company is actively monitoring the clean-up project, including its costs. To date, neither the school board nor the Township has asserted any claim against the Company. Instead, the Company and the local entities have negotiated an agreement to attempt to resolve the matter by informal means, and avoid litigation. A central component of the agreement is the provision by the Company of interim funding to help defray cleanup costs and assure the work is not interrupted. The Company transmitted interim funding payments in December 2007 and November 2009. The parties commenced mediation in late 2008; however, those efforts were not successful and the parties moved to a binding allocation process. The parties are expected to conduct fact and expert discovery, followed by formal evidentiary hearings and written argument. Hearings are scheduled to commence in March 2014. In addition, in September 2009, the Township and BOE filed suits against several other parties alleged to have contributed waste materials to the site. The Company does not currently believe that it is responsible for any additional amounts beyond the two interim payments totaling $4 million already transmitted. Any additional possible loss is not expected to be material. | |
OTHER PROCEEDINGS | |
SEC Germany Investigation | |
In October 2006, the SEC informed the Company that it had begun a formal inquiry into the activities of certain of the Company’s German pharmaceutical subsidiaries and its employees and/or agents. The SEC’s inquiry encompasses matters formerly under investigation by the German prosecutor in Munich, Germany, which have since been resolved. The Company understands the inquiry concerns potential violations of the Foreign Corrupt Practices Act (FCPA). The Company has been cooperating with the SEC. | |
FCPA Investigation | |
In March 2012, the Company received a subpoena from the SEC. The subpoena, issued in connection with an investigation under the FCPA, primarily relates to sales and marketing practices in various countries. The Company is cooperating with the government in its investigation of these matters. |
SELECTED_QUARTERLY_FINANCIAL_D
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||
Selected Quarterly Financial Information [Abstract] | ' | |||||||||||||||||||||
Quarterly Financial Information [Text Block] | ' | |||||||||||||||||||||
Note 23. SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) | ||||||||||||||||||||||
Dollars in Millions, except per share data | First Quarter | Second Quarter | Third Quarter | Fourth Quarter | Year | |||||||||||||||||
2013 | ||||||||||||||||||||||
Total Revenues | $ | 3,831 | $ | 4,048 | $ | 4,065 | $ | 4,441 | $ | 16,385 | ||||||||||||
Gross Margin | 2,768 | 2,940 | 2,890 | 3,168 | 11,766 | |||||||||||||||||
Net Earnings | 623 | 530 | 692 | 735 | 2,580 | |||||||||||||||||
Net Earnings/(Loss) Attributable to: | ||||||||||||||||||||||
Noncontrolling Interest | 14 | (6 | ) | — | 9 | 17 | ||||||||||||||||
BMS | 609 | 536 | 692 | 726 | 2,563 | |||||||||||||||||
Earnings per Share - Basic(1) | $ | 0.37 | $ | 0.33 | $ | 0.42 | $ | 0.44 | $ | 1.56 | ||||||||||||
Earnings per Share - Diluted(1) | 0.37 | 0.32 | 0.42 | 0.44 | 1.54 | |||||||||||||||||
Cash dividends declared per common share | $ | 0.35 | $ | 0.35 | $ | 0.35 | $ | 0.36 | $ | 1.41 | ||||||||||||
Cash and cash equivalents | $ | 1,355 | $ | 1,821 | $ | 1,771 | $ | 3,586 | $ | 3,586 | ||||||||||||
Marketable securities(2) | 4,420 | 4,201 | 4,574 | 4,686 | 4,686 | |||||||||||||||||
Total Assets | 35,958 | 36,252 | 36,804 | 38,592 | 38,592 | |||||||||||||||||
Long-term debt(3) | 7,180 | 7,122 | 6,562 | 7,981 | 7,981 | |||||||||||||||||
Equity | 13,699 | 14,373 | 14,714 | 15,236 | 15,236 | |||||||||||||||||
Dollars in Millions, except per share data | First Quarter | Second Quarter | Third Quarter | Fourth Quarter | Year | |||||||||||||||||
2012 | ||||||||||||||||||||||
Total Revenues | $ | 5,251 | $ | 4,443 | $ | 3,736 | $ | 4,191 | $ | 17,621 | ||||||||||||
Gross Margin | 3,948 | 3,198 | 2,749 | 3,116 | 13,011 | |||||||||||||||||
Net Earnings/(Loss) | 1,482 | 808 | (713 | ) | 924 | 2,501 | ||||||||||||||||
Net Earnings/(Loss) Attributable to: | ||||||||||||||||||||||
Noncontrolling Interest | 381 | 163 | (2 | ) | (1 | ) | 541 | |||||||||||||||
BMS | 1,101 | 645 | (711 | ) | 925 | 1,960 | ||||||||||||||||
Earnings/(Loss) per Share - Basic(1) | $ | 0.65 | $ | 0.38 | $ | (0.43 | ) | $ | 0.56 | $ | 1.17 | |||||||||||
Earnings/(Loss) per Share - Diluted(1) | 0.64 | 0.38 | (0.43 | ) | 0.56 | 1.16 | ||||||||||||||||
Cash dividends declared per common share | $ | 0.34 | $ | 0.34 | $ | 0.34 | $ | 0.35 | $ | 1.37 | ||||||||||||
Cash and cash equivalents | $ | 2,307 | $ | 2,801 | $ | 1,503 | $ | 1,656 | $ | 1,656 | ||||||||||||
Marketable securities(2) | 6,307 | 5,968 | 5,125 | 4,696 | 4,696 | |||||||||||||||||
Total Assets | 32,408 | 31,667 | 36,044 | 35,897 | 35,897 | |||||||||||||||||
Long-term debt(3) | 5,270 | 5,209 | 7,227 | 7,232 | 7,232 | |||||||||||||||||
Equity | 16,246 | 15,812 | 13,900 | 13,638 | 13,638 | |||||||||||||||||
-1 | Earnings per share for the quarters may not add to the amounts for the year, as each period is computed on a discrete basis. | |||||||||||||||||||||
-2 | Marketable securities includes current and non-current assets. | |||||||||||||||||||||
-3 | Also includes the current portion of long-term debt. | |||||||||||||||||||||
The following specified items affected the comparability of results in 2013 and 2012: | ||||||||||||||||||||||
2013 | ||||||||||||||||||||||
Dollars in Millions | First | Second | Third | Fourth | Year | |||||||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||||||||
Accelerated depreciation, asset impairment and other shutdown costs | $ | — | $ | — | $ | — | $ | 36 | $ | 36 | ||||||||||||
Amortization of acquired Amylin intangible assets | 138 | 137 | 137 | 137 | 549 | |||||||||||||||||
Amortization of Amylin alliance proceeds | (67 | ) | (67 | ) | (68 | ) | (71 | ) | (273 | ) | ||||||||||||
Amortization of Amylin inventory adjustment | 14 | — | — | — | 14 | |||||||||||||||||
Cost of products sold | 85 | 70 | 69 | 102 | 326 | |||||||||||||||||
Marketing, selling and administrative(a) | 1 | 1 | 4 | 10 | 16 | |||||||||||||||||
Research and development(b) | — | — | — | 16 | 16 | |||||||||||||||||
Provision for restructuring | 33 | 173 | 6 | 14 | 226 | |||||||||||||||||
Pension settlements | — | 99 | 37 | 25 | 161 | |||||||||||||||||
Acquisition and alliance related items | — | (10 | ) | — | — | (10 | ) | |||||||||||||||
Litigation charges/(recoveries) | — | (23 | ) | — | — | (23 | ) | |||||||||||||||
Upfront, milestone and other licensing receipts | (14 | ) | — | — | — | — | (14 | ) | ||||||||||||||
Other (income)/expense | 19 | 239 | 43 | 39 | 340 | |||||||||||||||||
Increase to pretax income | 105 | 310 | 116 | 167 | 698 | |||||||||||||||||
Income tax on items above | (35 | ) | (116 | ) | (40 | ) | (51 | ) | (242 | ) | ||||||||||||
Increase to net earnings | $ | 70 | $ | 194 | $ | 76 | $ | 116 | $ | 456 | ||||||||||||
(a) | Specified items in marketing, selling and administrative are process standardization implementation costs. | |||||||||||||||||||||
(b) | Specified items in research and development are upfront, milestone and other licensing payments. | |||||||||||||||||||||
2012 | ||||||||||||||||||||||
Dollars in Millions | First | Second | Third | Fourth | Year | |||||||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||||||||
Accelerated depreciation, asset impairment and other shutdown costs | $ | — | $ | 147 | $ | — | $ | — | $ | 147 | ||||||||||||
Amortization of acquired Amylin intangible assets | — | — | 91 | 138 | 229 | |||||||||||||||||
Amortization of Amylin alliance proceeds | — | — | (46 | ) | (68 | ) | (114 | ) | ||||||||||||||
Amortization of Amylin inventory adjustment | — | — | 9 | 14 | 23 | |||||||||||||||||
Cost of products sold | — | 147 | 54 | 84 | 285 | |||||||||||||||||
Stock compensation from accelerated vesting of Amylin awards | — | — | 67 | — | 67 | |||||||||||||||||
Process standardization implementation costs | 8 | 5 | 3 | 2 | 18 | |||||||||||||||||
Marketing, selling and administrative | 8 | 5 | 70 | 2 | 85 | |||||||||||||||||
Stock compensation from accelerated vesting of Amylin awards | — | — | 27 | — | 27 | |||||||||||||||||
Upfront, milestone and other licensing payments | — | — | 21 | 26 | 47 | |||||||||||||||||
IPRD impairment | 58 | 45 | — | 39 | 142 | |||||||||||||||||
Research and development | 58 | 45 | 48 | 65 | 216 | |||||||||||||||||
Impairment charge for BMS-986094 intangible asset | — | — | 1,830 | — | 1,830 | |||||||||||||||||
Provision for restructuring | 22 | 20 | 29 | 103 | 174 | |||||||||||||||||
Gain on sale of product lines, businesses and assets | — | — | — | (51 | ) | (51 | ) | |||||||||||||||
Pension settlements | — | — | — | 151 | 151 | |||||||||||||||||
Acquisition and alliance related items | 12 | 1 | 29 | 1 | 43 | |||||||||||||||||
Litigation charges/(recoveries) | (172 | ) | 22 | 50 | 55 | (45 | ) | |||||||||||||||
Upfront, milestone and other licensing receipts | — | — | — | (10 | ) | (10 | ) | |||||||||||||||
Out-licensed intangible asset impairment | 38 | — | — | — | 38 | |||||||||||||||||
Loss on debt repurchases | 19 | — | 8 | — | 27 | |||||||||||||||||
Other (income)/expense | (81 | ) | 43 | 116 | 249 | 327 | ||||||||||||||||
Increase to pretax income | (15 | ) | 240 | 2,118 | 400 | 2,743 | ||||||||||||||||
Income tax on items above | 8 | (77 | ) | (722 | ) | (156 | ) | (947 | ) | |||||||||||||
Specified tax benefit(a) | — | — | — | (392 | ) | (392 | ) | |||||||||||||||
Income taxes | 8 | (77 | ) | (722 | ) | (548 | ) | (1,339 | ) | |||||||||||||
Increase/(Decrease) to Net Earnings | $ | (7 | ) | $ | 163 | $ | 1,396 | $ | (148 | ) | $ | 1,404 | ||||||||||
(a) | Specified tax benefit relates to a capital loss deduction. |
ACCOUNTING_POLICIES_Policies
ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Consolidation, Policy [Policy Text Block] | ' |
Basis of Consolidation | |
The consolidated financial statements are prepared in conformity with United States (U.S.) generally accepted accounting principles (GAAP), including the accounts of Bristol-Myers Squibb Company (which may be referred to as Bristol-Myers Squibb, BMS, or the Company) and all of its controlled majority-owned subsidiaries. All intercompany balances and transactions are eliminated. Material subsequent events are evaluated and disclosed through the report issuance date. | |
Alliance and license arrangements are assessed to determine whether the terms provide economic or other control over the entity requiring consolidation of an entity. Entities controlled by means other than a majority voting interest are referred to as variable interest entities. There were no arrangements with material variable interest entities during any of the periods presented. | |
Use of Estimates, Policy [Policy Text Block] | ' |
Use of Estimates | |
The preparation of financial statements requires the use of management estimates and assumptions. The most significant assumptions are estimates in determining the fair value and potential impairment of intangible assets; sales rebate and return accruals; legal contingencies; income taxes; and pension and postretirement benefits. Actual results may differ from estimated results. | |
Reclassifications [Text Block] | ' |
Reclassifications | |
Certain prior period amounts were reclassified to conform to the current period presentation. Net product sales and alliance and other revenues previously presented in the aggregate as net sales in the consolidated statements of earnings are now presented separately. | |
Revenue Recognition, Policy [Policy Text Block] | ' |
Revenue Recognition | |
Revenue is recognized when persuasive evidence of an arrangement exists, the sales price is fixed and determinable, collectability is reasonably assured and title and substantially all risks and rewards of ownership is transferred, generally at time of shipment (including the supply of commercial products to alliance partners when they are the principal in the end customer sale). However, certain revenue of non-U.S. businesses is recognized on the date of receipt by the customer and alliance and other revenue related to Abilify* and Atripla* is not recognized until the products are sold to the end customer by the alliance partner. Royalties based on third party sales are recognized as earned in accordance with the contract terms when the third party sales are reliably measurable and collectability is reasonably assured. Refer to “—Note 3. Alliances” for further detail regarding alliances. | |
Provisions are made at the time of revenue recognition for expected sales returns, discounts, rebates and estimated sales allowances based on historical experience updated for changes in facts and circumstances including the impact of applicable healthcare legislation. Such provisions are recognized as a reduction of revenue.When a new product is not an extension of an existing line of product or there is no historical experience with products in a similar therapeutic category, revenue is deferred until the right of return no longer exists or sufficient historical experience to estimate sales returns is developed. | |
Income Tax, Policy [Policy Text Block] | ' |
Income Taxes | |
The provision for income taxes includes income taxes paid or payable for the current year plus the change in deferred taxes during the year. Deferred taxes result from differences between the financial and tax basis of assets and liabilities and are adjusted for changes in tax rates and tax laws when changes are enacted. Valuation allowances are recognized to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized. The assessment of whether or not a valuation allowance is required often requires significant judgment including the long-range forecast of future taxable income and the evaluation of tax planning initiatives. Adjustments to the deferred tax valuation allowances are made to earnings in the period when such assessments are made. | |
Tax benefits are recognized from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. The tax benefit recognized in the financial statements for a particular tax position is based on the largest benefit that is more likely than not to be realized upon settlement. | |
Cash and Cash Equivalents, Policy [Policy Text Block] | ' |
Cash and Cash Equivalents | |
Cash and cash equivalents include U.S. Treasury securities, government agency securities, bank deposits, time deposits and money market funds. Cash equivalents consist of highly liquid investments with original maturities of three months or less at the time of purchase and are recognized at cost, which approximates fair value. | |
Investment, Policy [Policy Text Block] | ' |
Marketable Securities and Investments in Other Companies | |
Marketable securities are classified as “available-for-sale” on the date of purchase and reported at fair value. Fair value is determined based on observable market quotes or valuation models using assessments of counterparty credit worthiness, credit default risk or underlying security and overall capital market liquidity. | |
Investments in 50% or less owned companies are accounted for using the equity method of accounting when the ability to exercise significant influence is maintained. The share of net income or losses of equity investments is included in equity in net income of affiliates in other (income)/expense. Equity investments are reviewed for impairment by assessing if the decline in market value of the investment below the carrying value is other than temporary, which considers the intent and ability to retain the investment, the length of time and extent that the market value has been less than cost, and the financial condition of the investee. | |
Inventory, Policy [Policy Text Block] | ' |
Inventory Valuation | |
Inventories are stated at the lower of average cost or market. | |
Property, Plant and Equipment, Policy [Policy Text Block] | ' |
Property, Plant and Equipment and Depreciation | |
Expenditures for additions, renewals and improvements are capitalized at cost. Depreciation is computed on a straight-line method based on the estimated useful lives of the related assets ranging from 20 to 50 years for buildings and 3 to 20 years for machinery, equipment, and fixtures. | |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | ' |
Impairment of Long-Lived Assets | |
Current facts or circumstances are periodically evaluated to determine if the carrying value of depreciable assets to be held and used may not be recoverable. If such circumstances exist, an estimate of undiscounted future cash flows generated by the long-lived asset, or the appropriate grouping of assets, is compared to the carrying value to determine whether an impairment exists at its lowest level of identifiable cash flows. If an asset is determined to be impaired, the loss is measured based on the difference between the asset’s fair value and its carrying value. An estimate of the asset’s fair value is based on quoted market prices in active markets, if available. If quoted market prices are not available, the estimate of fair value is based on various valuation techniques using Level 3 fair value inputs, including a discounted value of estimated future cash flows. | |
Internal Use Software, Policy [Policy Text Block] | ' |
Capitalized Software | |
Eligible costs to obtain internal use software for significant systems projects are capitalized and amortized over the estimated useful life of the software. Insignificant costs to obtain software for projects are expensed as incurred. | |
Business Combinations Policy [Policy Text Block] | ' |
Business Combinations | |
Businesses acquired are consolidated upon obtaining control of the acquiree. The fair value of assets acquired and liabilities assumed are recognized at the date of acquisition. Any excess of the purchase price over the estimated fair values of the net assets acquired is recognized as goodwill. Legal, audit, business valuation, and all other business acquisition costs are expensed when incurred. | |
Goodwill and Intangible Assets, Policy [Policy Text Block] | ' |
Goodwill, Acquired In-Process Research and Development and Other Intangible Assets | |
The fair value of intangible assets is typically determined using the “income method” which utilizes Level 3 fair value inputs. The market participant valuations assume a global view considering all potential jurisdictions and indications based on discounted after-tax cash flow projections, risk adjusted for estimated probability of technical and regulatory success (for IPRD). | |
Finite-lived intangible assets, including licenses, developed technology rights and IPRD projects that reach commercialization are amortized on a straight-line basis over their estimated useful life. Estimated useful lives are determined considering the period in which the assets are expected to contribute to future cash flows. | |
Goodwill is tested at least annually for impairment by assessing qualitative factors or performing a quantitative analysis in determining whether it is more likely than not that the fair value of net assets are below their carrying amounts. Examples of qualitative factors assessed in 2013 include our share price, our financial performance compared to budgets, long-term financial plans, macroeconomic, industry and market conditions as well as the substantial excess of fair value over the carrying value of net assets from the annual impairment test performed in the prior year. Each relevant factor is assessed both individually and in the aggregate. | |
IPRD is tested for impairment on an annual basis and more frequently if events occur or circumstances change that would indicate a potential reduction in the fair values of the assets below their carrying value. If the carrying value of IPRD is determined to exceed the fair value, an impairment loss is recognized for the difference. | |
Finite-lived intangible assets are tested for impairment when facts or circumstances suggest that the carrying value of the asset may not be recoverable. If the carrying value exceeds the projected undiscounted pre-tax cash flows of the intangible asset, an impairment loss equal to the excess of the carrying value over the estimated fair value (discounted after-tax cash flows) is recognized. | |
Costs Associated with Exit or Disposal Activities or Restructurings, Policy [Policy Text Block] | ' |
Restructuring | |
Restructuring charges are recognized as a result of actions to streamline operations and rationalize manufacturing facilities. Judgment is used when estimating the impact of restructuring plans, including future termination benefits and other exit costs to be incurred when the actions take place. Actual results could vary from these estimates. | |
Commitments and Contingencies, Policy [Policy Text Block] | ' |
Contingencies | |
Loss contingencies from legal proceedings and claims may occur from a wide range of matters, including government investigations, shareholder lawsuits, product and environmental liability, contractual claims and tax matters. Accruals are recognized when it is probable that a liability will be incurred and the amount of loss can be reasonably estimated. Gain contingencies (including contingent proceeds related to the divestitures) are not recognized until realized. Legal fees are expensed as incurred. | |
Derivatives, Policy [Policy Text Block] | ' |
Derivative Financial Instruments | |
Derivatives are used principally in the management of interest rate and foreign currency exposures and are not held or used for trading purposes. | |
Derivatives are recognized at fair value with changes in fair value recognized in earnings unless specific hedge criteria are met. If the derivative is designated as a fair value hedge, changes in fair value of the derivative and of the hedged item attributable to the hedged risk are recognized in earnings. If the derivative is designated as a cash flow hedge, the effective portions of changes in the fair value of the derivative are reported in accumulated other comprehensive income/(loss) (OCI) and subsequently recognized in earnings when the hedged item affects earnings. Cash flows are classified consistent with the underlying hedged item. Derivatives are designated and assigned as hedges of forecasted transactions, specific assets or specific liabilities. When hedged assets or liabilities are sold or extinguished or the forecasted transactions being hedged are no longer probable to occur, a gain or loss is immediately recognized in earnings. Non-derivative instruments, primarily euro denominated long-term debt, are also designated as hedges of net investments in foreign affiliates. The effective portion of the designated non-derivative instrument is recognized in the foreign currency translation section of OCI and the ineffective portion is recognized in earnings. | |
Shipping and Handling Cost, Policy [Policy Text Block] | ' |
Shipping and Handling Costs | |
Shipping and handling costs are included in marketing, selling and administrative expenses and were $119 million in 2013, $125 million in 2012 and $139 million in 2011. | |
Advertising Costs, Policy [Policy Text Block] | ' |
Advertising and Product Promotion Costs | |
Advertising and product promotion costs are expensed as incurred. | |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | ' |
Foreign Currency Translation | |
Foreign subsidiary earnings are translated into U.S. dollars using average exchange rates. The net assets of foreign subsidiaries are translated into U.S. dollars using current exchange rates. The U.S. dollar effects that arise from translating the net assets of these subsidiaries at changing rates are recognized in OCI. | |
Research and Development Expense, Policy [Policy Text Block] | ' |
Research and Development | |
Research and development costs are expensed as incurred. Clinical study costs are accrued over the service periods specified in the contracts and adjusted as necessary based upon an ongoing review of the level of effort and costs actually incurred. Strategic alliances with third parties provide rights to develop, manufacture, market and/or sell pharmaceutical products, the rights to which are owned by the other party. Research and development is recognized net of reimbursements in connection with alliance agreements. | |
New Accounting Pronouncements, Policy [Policy Text Block] | ' |
Recently Issued Accounting Standards | |
In July 2013, the Financial Accounting Standards Board issued an update that clarified existing guidance on the presentation of unrecognized tax benefits when various qualifying tax benefit carryforwards exist, including when the unrecognized tax benefit should be presented as a reduction to deferred tax assets or as a liability. This update is required to be adopted for all annual periods and interim reporting periods beginning after December 15, 2013, with early adoption permitted. The reduction to deferred tax assets is expected to be approximately |
BUSINESS_SEGMENT_INFORMATION_T
BUSINESS SEGMENT INFORMATION (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | ' | ||||||||||||||||||||
Products are sold principally to wholesalers, and to a lesser extent, directly to distributors, retailers, hospitals, clinics, government agencies and pharmacies. Gross revenues to the three largest pharmaceutical wholesalers in the U.S. as a percentage of global gross revenues were as follows: | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
McKesson Corporation | 19 | % | 23 | % | 26 | % | |||||||||||||||
Cardinal Health, Inc. | 14 | % | 19 | % | 21 | % | |||||||||||||||
AmerisourceBergen Corporation | 15 | % | 14 | % | 16 | % | |||||||||||||||
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | ' | ||||||||||||||||||||
Selected geographic area information was as follows: | |||||||||||||||||||||
Total Revenues | Property, Plant and Equipment | ||||||||||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | 2013 | 2012 | ||||||||||||||||
United States | $ | 8,318 | $ | 10,384 | $ | 14,039 | $ | 3,708 | $ | 4,464 | |||||||||||
Europe | 3,930 | 3,706 | 3,879 | 729 | 740 | ||||||||||||||||
Rest of the World | 3,295 | 3,204 | 3,237 | 142 | 129 | ||||||||||||||||
Other(a) | 842 | 327 | 89 | — | — | ||||||||||||||||
Total | $ | 16,385 | $ | 17,621 | $ | 21,244 | $ | 4,579 | $ | 5,333 | |||||||||||
(a) | Other total revenues include royalties and other alliance-related revenues for products not sold by our regional commercial organizations. | ||||||||||||||||||||
Revenue from External Customers by Products and Services [Table Text Block] | ' | ||||||||||||||||||||
Total revenues of key products were as follows: | |||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||||||||||
Virology | |||||||||||||||||||||
Baraclude (entecavir) | $ | 1,527 | $ | 1,388 | $ | 1,196 | |||||||||||||||
Reyataz (atazanavir sulfate) | 1,551 | 1,521 | 1,569 | ||||||||||||||||||
Sustiva (efavirenz) Franchise(a) | 1,614 | 1,527 | 1,485 | ||||||||||||||||||
Oncology | |||||||||||||||||||||
Erbitux* (cetuximab) | 696 | 702 | 691 | ||||||||||||||||||
Sprycel (dasatinib) | 1,280 | 1,019 | 803 | ||||||||||||||||||
Yervoy (ipilimumab) | 960 | 706 | 360 | ||||||||||||||||||
Neuroscience | |||||||||||||||||||||
Abilify* (aripiprazole)(b) | 2,289 | 2,827 | 2,758 | ||||||||||||||||||
Metabolics | |||||||||||||||||||||
Bydureon* (exenatide extended-release for injectable suspension) | 298 | 78 | N/A | ||||||||||||||||||
Byetta* (exenatide) | 400 | 149 | N/A | ||||||||||||||||||
Forxiga (dapagliflozin) | 23 | — | N/A | ||||||||||||||||||
Onglyza/Kombiglyze (saxagliptin/saxagliptin and metformin) | 877 | 709 | 473 | ||||||||||||||||||
Immunoscience | |||||||||||||||||||||
Nulojix (belatacept) | 26 | 11 | 3 | ||||||||||||||||||
Orencia (abatacept) | 1,444 | 1,176 | 917 | ||||||||||||||||||
Cardiovascular | |||||||||||||||||||||
Avapro*/Avalide* (irbesartan/irbesartan-hydrochlorothiazide) | 231 | 503 | 952 | ||||||||||||||||||
Eliquis (apixaban) | 146 | 2 | — | ||||||||||||||||||
Plavix* (clopidogrel bisulfate) | 258 | 2,547 | 7,087 | ||||||||||||||||||
Mature Products and All Other | 2,765 | 2,756 | 2,950 | ||||||||||||||||||
Total Revenues | $ | 16,385 | $ | 17,621 | $ | 21,244 | |||||||||||||||
(a) | Includes $1,366 million in 2013, $1,267 million in 2012 and $1,203 million in 2011 presented in alliance and other revenue. | ||||||||||||||||||||
(b) | Includes $1,840 million in 2013, $2,340 million in 2012 and $2,303 million in 2011 presented in alliance and other revenue. |
ALLIANCESTables
ALLIANCES(Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Alliances Statement [Line Items] | ' | ||||||||||||
Summarized Financial Information Reflected In Consolidated Financial Statements [Text Block] | ' | ||||||||||||
elected financial information pertaining to our alliances was as follows, including net product sales when BMS is the principal in the third-party customer sale for products subject to the alliance. Expenses summarized below do not include all amounts attributed to the activities for the products in the alliance, but only the payments between the alliance partners or the related amortization if the payments were deferred or capitalized. | |||||||||||||
Year Ended December 31, | |||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||
Revenues from alliances: | |||||||||||||
Net product sales | $ | 4,417 | $ | 6,124 | $ | 10,460 | |||||||
Alliance and other revenues | 3,804 | 3,748 | 3,548 | ||||||||||
Total Revenues | 8,221 | 9,872 | 14,008 | ||||||||||
Payments to/(from) alliance partners: | |||||||||||||
Cost of products sold | $ | 1,356 | $ | 1,706 | $ | 2,823 | |||||||
Marketing, selling and administrative | (125 | ) | (80 | ) | (9 | ) | |||||||
Advertising and product promotion | (58 | ) | (97 | ) | (86 | ) | |||||||
Research and development | (140 | ) | 4 | 89 | |||||||||
Other (income)/expense | (313 | ) | (489 | ) | (317 | ) | |||||||
Net earnings attributable to noncontrolling interest, pre-tax | 36 | 844 | 2,323 | ||||||||||
Selected Alliance Balance Sheet Information: | December 31, | ||||||||||||
Dollars in Millions | 2013 | 2012 | |||||||||||
Receivables – from alliance partners | $ | 1,122 | $ | 857 | |||||||||
Accounts payable – to alliance partners | 1,396 | 1,052 | |||||||||||
Deferred income from alliances(a) | 5,089 | 4,647 | |||||||||||
(a) | Includes deferred income classified as liabilities related to assets held-for-sale of $3,671 million at December 31, 2013. | ||||||||||||
Otsuka [Member] | ' | ||||||||||||
Alliances Statement [Line Items] | ' | ||||||||||||
Schedule Of Percentage Of Net Sales Recognized From Collaboration [Text Block] | ' | ||||||||||||
An assessment of BMS's expected annual contractual share is completed each quarterly reporting period and adjusted based upon reported U.S. Abilify* net sales at December 31, 2013. BMS's annual contractual share was 34.0% in 2013. The alliance and other revenue recognized in any interim period or quarter does not exceed the amounts that are due under the contract. | |||||||||||||
Annual U.S. Net Sales | BMS Share as a % of U.S. Net Sales | ||||||||||||
$0 to $2.7 billion | 50% | ||||||||||||
$2.7 billion to $3.2 billion | 20% | ||||||||||||
$3.2 billion to $3.7 billion | 7% | ||||||||||||
$3.7 billion to $4.0 billion | 2% | ||||||||||||
$4.0 billion to $4.2 billion | 1% | ||||||||||||
In excess of $4.2 billion | 20% | ||||||||||||
Schedule Of Percentage Of Net Sales Payable As Collaboration Fee [Text Block] | ' | ||||||||||||
A fee is paid to Otsuka based on the following percentages of annual net sales of Sprycel and Ixempra: | |||||||||||||
% of Net Sales | |||||||||||||
2010 - 2012 | 2013 - 2020 | ||||||||||||
$0 to $400 million | 30% | 65% | |||||||||||
$400 million to $600 million | 5% | 12% | |||||||||||
$600 million to $800 million | 3% | 3% | |||||||||||
$800 million to $1.0 billion | 2% | 2% | |||||||||||
In excess of $1.0 billion | 1% | 1% | |||||||||||
Summarized Financial Information Reflected In Consolidated Financial Statements [Text Block] | ' | ||||||||||||
Summarized financial information related to this alliance was as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||
Revenues from Otsuka alliances: | |||||||||||||
Net product sales | $ | 1,543 | $ | 1,386 | $ | 1,181 | |||||||
Alliance and other revenues(a) | 1,840 | 2,340 | 2,303 | ||||||||||
Total Revenues | 3,383 | 3,726 | 3,484 | ||||||||||
Payments to/(from) Otsuka: | |||||||||||||
Cost of products sold: | |||||||||||||
Oncology fee | 295 | 138 | 134 | ||||||||||
Royalties | 86 | 78 | 72 | ||||||||||
Amortization of intangible assets | — | 5 | 6 | ||||||||||
Cost of product supply | 135 | 153 | 145 | ||||||||||
Cost reimbursements to/(from) Otsuka | (10 | ) | (47 | ) | (45 | ) | |||||||
Selected Alliance Balance Sheet information: | December 31, | ||||||||||||
Dollars in Millions | 2013 | 2012 | |||||||||||
Other assets – extension payment | $ | 87 | $ | 153 | |||||||||
AstraZeneca [Member] | ' | ||||||||||||
Alliances Statement [Line Items] | ' | ||||||||||||
Summarized Financial Information Reflected In Consolidated Financial Statements [Text Block] | ' | ||||||||||||
Summarized financial information related to the AstraZeneca alliances was as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||
Revenues from AstraZeneca alliances: | |||||||||||||
Net product sales | $ | 1,658 | $ | 962 | $ | 472 | |||||||
Alliance and other revenues | 16 | 10 | 1 | ||||||||||
Total Revenues | $ | 1,674 | $ | 972 | $ | 473 | |||||||
Payments to/(from) AstraZeneca: | |||||||||||||
Cost of products sold: | |||||||||||||
Profit sharing | 673 | 425 | 207 | ||||||||||
Amortization of deferred income | (307 | ) | (126 | ) | — | ||||||||
Cost reimbursements to/(from) AstraZeneca recognized in: | |||||||||||||
Cost of products sold | (25 | ) | (4 | ) | — | ||||||||
Marketing, selling and administrative | (127 | ) | (66 | ) | (14 | ) | |||||||
Advertising and product promotion | (45 | ) | (43 | ) | (21 | ) | |||||||
Research and development | (86 | ) | (25 | ) | 35 | ||||||||
Other (income)/expense: | |||||||||||||
Amortization of deferred income | (31 | ) | (38 | ) | (38 | ) | |||||||
Provision for restructuring | (25 | ) | (21 | ) | — | ||||||||
Selected Alliance Cash Flow information: | |||||||||||||
Non-refundable upfront, milestone and other licensing payments received: | |||||||||||||
Amylin-related products | 135 | 3,547 | — | ||||||||||
Forxiga | 80 | — | 120 | ||||||||||
Selected Alliance Balance Sheet information: | December 31, | ||||||||||||
Dollars in Millions | 2013 | 2012 | |||||||||||
Deferred income – Non-refundable upfront, milestone and other licensing receipts(a) | |||||||||||||
Amylin-related products | $ | 3,288 | $ | 3,423 | |||||||||
Onglyza | 191 | 208 | |||||||||||
Forxiga | 192 | 206 | |||||||||||
Gilead [Member] | ' | ||||||||||||
Alliances Statement [Line Items] | ' | ||||||||||||
Summarized Financial Information Reflected In Consolidated Financial Statements [Text Block] | ' | ||||||||||||
Summarized financial information related to this alliance was as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||
Revenues from Gilead alliances: | |||||||||||||
Net product sales | $ | — | $ | — | $ | 1 | |||||||
Alliance and other revenues | 1,366 | 1,267 | 1,203 | ||||||||||
Total Revenues | 1,366 | 1,267 | 1,204 | ||||||||||
Equity in net loss of affiliates | 17 | 18 | 16 | ||||||||||
Lilly [Member] | ' | ||||||||||||
Alliances Statement [Line Items] | ' | ||||||||||||
Summarized Financial Information Reflected In Consolidated Financial Statements [Text Block] | ' | ||||||||||||
Summarized financial information related to this alliance was as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||
Revenues from Lilly alliance: | |||||||||||||
Net product sales | $ | 696 | $ | 702 | $ | 691 | |||||||
Payments to/(from) Lilly: | |||||||||||||
Cost of products sold: | |||||||||||||
Distribution fees and royalties | 289 | 291 | 287 | ||||||||||
Amortization of intangible asset | 37 | 38 | 37 | ||||||||||
Cost of product supply | 65 | 81 | 73 | ||||||||||
Cost reimbursements to/(from) Lilly | (13 | ) | 23 | 5 | |||||||||
Other (income)/expense – Japan commercialization fee | (30 | ) | (37 | ) | (34 | ) | |||||||
Selected Alliance Balance Sheet information | December 31, | ||||||||||||
Dollars in Millions | 2013 | 2012 | |||||||||||
Other intangible assets – Non-refundable upfront, milestone and other licensing payments | $ | 174 | $ | 211 | |||||||||
Sanofi [Member] | ' | ||||||||||||
Alliances Statement [Line Items] | ' | ||||||||||||
Summarized Financial Information Reflected In Consolidated Financial Statements [Text Block] | ' | ||||||||||||
Summarized financial information related to this alliance was as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||
Revenues from Sanofi alliances: | |||||||||||||
Net product sales | $ | 153 | $ | 2,930 | $ | 8,003 | |||||||
Alliance and other revenues | 336 | 120 | 37 | ||||||||||
Total Revenues | 489 | 3,050 | 8,040 | ||||||||||
Payments to/(from) Sanofi: | |||||||||||||
Cost of product supply | 4 | 81 | 245 | ||||||||||
Cost of products sold – Royalties | 4 | 530 | 1,583 | ||||||||||
Equity in net income of affiliates | (183 | ) | (201 | ) | (298 | ) | |||||||
Other (income)/expense | (18 | ) | (171 | ) | 72 | ||||||||
Noncontrolling interest – pre-tax | 36 | 844 | 2,323 | ||||||||||
Selected Alliance Cash Flow information: | |||||||||||||
Distributions (to)/from Sanofi - Noncontrolling interest | 43 | (742 | ) | (2,335 | ) | ||||||||
Distributions from Sanofi - Investment in affiliates | 149 | 229 | 283 | ||||||||||
Selected Alliance Balance Sheet information: | December 31, | ||||||||||||
Dollars in Millions | 2013 | 2012 | |||||||||||
Investment in affiliates – territory covering Europe and Asia(a) | 43 | 9 | |||||||||||
Noncontrolling interest | 49 | (30 | ) | ||||||||||
Sanofi [Member] | Territory Covering Europe and Asia [Member] | ' | ||||||||||||
Alliances Statement [Line Items] | ' | ||||||||||||
Equity Method Investments Disclosure [Text Block] | ' | ||||||||||||
The following is summarized financial information for interests in the partnerships with Sanofi for the territory covering Europe and Asia, which are not consolidated but are accounted for using the equity method: | |||||||||||||
Year Ended December 31, | |||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||
Net sales | $ | 395 | $ | 1,077 | $ | 1,469 | |||||||
Gross profit | 319 | 453 | 658 | ||||||||||
Net income | $ | 313 | $ | 394 | $ | 562 | |||||||
Pfizer [Member] | ' | ||||||||||||
Alliances Statement [Line Items] | ' | ||||||||||||
Summarized Financial Information Reflected In Consolidated Financial Statements [Text Block] | ' | ||||||||||||
Summarized financial information related to this alliance was as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||
Revenues from Pfizer alliance: | |||||||||||||
Net product sales | $ | 144 | $ | 2 | $ | — | |||||||
Alliance and other revenues | 2 | — | — | ||||||||||
Total Revenues | 146 | 2 | — | ||||||||||
Payments to/(from) Pfizer: | |||||||||||||
Cost of products sold – Profit sharing | 69 | 1 | — | ||||||||||
Cost reimbursements to/(from) Pfizer | 4 | (11 | ) | (75 | ) | ||||||||
Other (income)/expense – Amortization of deferred income | (41 | ) | (37 | ) | (33 | ) | |||||||
Selected Alliance Cash Flow information: | |||||||||||||
Non-refundable upfront, milestone and other licensing payments receipts | 205 | 20 | 65 | ||||||||||
Selected Alliance Balance Sheet information: | December 31, | ||||||||||||
Dollars in Millions | 2013 | 2012 | |||||||||||
Deferred income | $ | 581 | $ | 397 | |||||||||
ACQUISITIONS_Tables
ACQUISITIONS (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||
Schedule of Recognized Identifiable Assets Acquired and Liabilities Assumed [Table Text Block] | ' | ||||||||||||
The total consideration transferred and the allocation of the acquisition date fair values of assets acquired and liabilities assumed in the Amylin, Inhibitex, and Amira acquisitions were as follows: | |||||||||||||
Dollars in Millions | |||||||||||||
Identifiable net assets: | Amylin | Inhibitex | Amira | ||||||||||
Cash | $ | 179 | $ | 46 | $ | 15 | |||||||
Marketable securities | 108 | 17 | — | ||||||||||
Inventory | 173 | — | — | ||||||||||
Property, plant and equipment | 742 | — | — | ||||||||||
Developed technology rights | 6,340 | — | — | ||||||||||
IPRD | 120 | 1,875 | 160 | ||||||||||
Other assets | 136 | — | — | ||||||||||
Debt obligations | (2,020 | ) | (23 | ) | — | ||||||||
Other liabilities | (339 | ) | (10 | ) | (16 | ) | |||||||
Deferred income taxes | (1,068 | ) | (579 | ) | (41 | ) | |||||||
Total identifiable net assets | 4,371 | 1,326 | 118 | ||||||||||
Goodwill | 847 | 1,213 | 265 | ||||||||||
Total consideration transferred | $ | 5,218 | $ | 2,539 | $ | 383 | |||||||
ASSETS_HELDFORSALE_Tables
ASSETS HELD-FOR-SALE (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Assets Held-For-Sale [Abstract] | ' | ||||
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block] | ' | ||||
The business was treated as a single disposal group held for sale as of December 31, 2013. No write-down was required as the fair value of the business less costs to sell exceeded the related carrying value. The following assets and liabilities of the diabetes business held-for-sale is presented separately from BMS’s other accounts as of December 31, 2013. | |||||
Dollars in Millions | December 31, 2013 | ||||
Assets | |||||
Receivables | $ | 83 | |||
Inventories | 163 | ||||
Deferred income taxes - current | 125 | ||||
Prepaid expenses and other | 20 | ||||
Property, plant and equipment | 678 | ||||
Goodwill(a) | 550 | ||||
Other intangible assets | 5,682 | ||||
Other assets | 119 | ||||
Total assets held-for-sale | 7,420 | ||||
Liabilities | |||||
Short-term borrowings and current portion of long-term debt | 27 | ||||
Accounts payable | 30 | ||||
Accrued expenses | 148 | ||||
Deferred income - current | 352 | ||||
Accrued rebates and returns | 81 | ||||
Deferred income - noncurrent | 3,319 | ||||
Deferred income taxes - noncurrent | 946 | ||||
Other liabilities | 28 | ||||
Total liabilities related to assets held-for-sale | 4,931 | ||||
OTHER_INCOMEEXPENSE_Tables
OTHER (INCOME)/EXPENSE (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Other Nonoperating Income (Expense) [Abstract] | ' | ||||||||||||
Schedule Of Other Income Expense [Text Block] | ' | ||||||||||||
Other (income)/expense includes: | |||||||||||||
Year Ended December 31, | |||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||
Interest expense | $ | 199 | $ | 182 | $ | 145 | |||||||
Investment income | (104 | ) | (106 | ) | (91 | ) | |||||||
Provision for restructuring (See Note 7) | 226 | 174 | 116 | ||||||||||
Litigation charges/(recoveries) | 20 | (45 | ) | 6 | |||||||||
Equity in net income of affiliates | (166 | ) | (183 | ) | (281 | ) | |||||||
Out-licensed intangible asset impairment | — | 38 | — | ||||||||||
Gain on sale of product lines, businesses and assets | (2 | ) | (53 | ) | (37 | ) | |||||||
Other income received from alliance partners, net | (148 | ) | (312 | ) | (140 | ) | |||||||
Pension curtailments and settlements | 165 | 158 | 10 | ||||||||||
Other | 15 | 67 | (62 | ) | |||||||||
Other (income)/expense | $ | 205 | $ | (80 | ) | $ | (334 | ) | |||||
RESTRUCTURING_Tables
RESTRUCTURING (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Restructuring Charges [Abstract] | ' | ||||||||||||
Schedule of Restructuring and Related Costs [Table Text Block] | ' | ||||||||||||
The following is the provision for restructuring: | |||||||||||||
Year Ended December 31, | |||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||
Employee termination benefits | $ | 211 | $ | 145 | $ | 85 | |||||||
Other exit costs | 15 | 29 | 31 | ||||||||||
Provision for restructuring | $ | 226 | $ | 174 | $ | 116 | |||||||
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | ' | ||||||||||||
The following table represents the activity of employee termination and other exit cost liabilities: | |||||||||||||
Year Ended December 31, | |||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||
Liability at January 1 | $ | 167 | $ | 77 | $ | 126 | |||||||
Charges | 249 | 178 | 128 | ||||||||||
Change in estimates | (23 | ) | (4 | ) | (12 | ) | |||||||
Provision for restructuring | 226 | 174 | 116 | ||||||||||
Foreign currency translation | 4 | (1 | ) | 2 | |||||||||
Amylin acquisition | — | 26 | — | ||||||||||
Liabilities related to assets held-for-sale | (67 | ) | — | — | |||||||||
Spending | (228 | ) | (109 | ) | (167 | ) | |||||||
Liability at December 31 | $ | 102 | $ | 167 | $ | 77 | |||||||
INCOME_TAXES_Tables
INCOME TAXES (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||||||||||
Schedule of Provision for Income Taxes [Table Text Block] | ' | ||||||||||||||||||||
The provision/(benefit) for income taxes consisted of: | |||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||||||||||
Current: | |||||||||||||||||||||
U.S. | $ | 375 | $ | 627 | $ | 864 | |||||||||||||||
Non-U.S. | 427 | 442 | 442 | ||||||||||||||||||
Total Current | 802 | 1,069 | 1,306 | ||||||||||||||||||
Deferred: | |||||||||||||||||||||
U.S. | (390 | ) | (1,164 | ) | 406 | ||||||||||||||||
Non-U.S | (101 | ) | (66 | ) | 9 | ||||||||||||||||
Total Deferred | (491 | ) | (1,230 | ) | 415 | ||||||||||||||||
Total Provision/(Benefit) | $ | 311 | $ | (161 | ) | $ | 1,721 | ||||||||||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | ||||||||||||||||||||
The reconciliation of the effective tax/(benefit) rate to the U.S. statutory Federal income tax rate was: | |||||||||||||||||||||
% of Earnings Before Income Taxes | |||||||||||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||||||||||
Earnings/(Loss) before income taxes: | |||||||||||||||||||||
U.S. | $ | (135 | ) | $ | (271 | ) | $ | 4,336 | |||||||||||||
Non-U.S. | 3,026 | 2,611 | 2,645 | ||||||||||||||||||
Total | $ | 2,891 | $ | 2,340 | $ | 6,981 | |||||||||||||||
U.S. statutory rate | 1,012 | 35 | % | 819 | 35 | % | 2,443 | 35 | % | ||||||||||||
Non-tax deductible annual pharmaceutical company fee | 63 | 2.2 | % | 90 | 3.8 | % | 80 | 1.2 | % | ||||||||||||
Foreign tax effect of certain operations in Ireland, Puerto Rico and Switzerland | (620 | ) | (21.4 | )% | (688 | ) | (29.4 | )% | (593 | ) | (8.5 | )% | |||||||||
State and local taxes (net of valuation allowance) | 25 | 0.9 | % | 20 | 0.9 | % | 33 | 0.5 | % | ||||||||||||
U.S. Federal, state and foreign contingent tax matters | 134 | 4.6 | % | 66 | 2.8 | % | (161 | ) | (2.3 | )% | |||||||||||
U.S. Federal research and development tax credit | (181 | ) | (6.3 | )% | — | — | (69 | ) | (1.0 | )% | |||||||||||
U.S. tax effect of capital losses | — | — | (392 | ) | (16.7 | )% | — | — | |||||||||||||
Foreign and other | (122 | ) | (4.2 | )% | (76 | ) | (3.3 | )% | (12 | ) | (0.2 | )% | |||||||||
$ | 311 | 10.8 | % | $ | (161 | ) | (6.9 | )% | $ | 1,721 | 24.7 | % | |||||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | ||||||||||||||||||||
The components of current and non-current deferred income tax assets/(liabilities) were as follows: | |||||||||||||||||||||
December 31, | |||||||||||||||||||||
Dollars in Millions | 2013 | 2012 | |||||||||||||||||||
Deferred tax assets | |||||||||||||||||||||
Foreign net operating loss carryforwards | $ | 3,892 | $ | 3,722 | |||||||||||||||||
Milestone payments and license fees | 483 | 550 | |||||||||||||||||||
Deferred income | 2,168 | 2,083 | |||||||||||||||||||
U.S. capital losses | 784 | 794 | |||||||||||||||||||
U.S. Federal net operating loss carryforwards | 138 | 170 | |||||||||||||||||||
Pension and postretirement benefits | 120 | 693 | |||||||||||||||||||
State net operating loss and credit carryforwards | 377 | 346 | |||||||||||||||||||
Intercompany profit and other inventory items | 495 | 288 | |||||||||||||||||||
U.S. Federal tax credit carryforwards | 23 | 31 | |||||||||||||||||||
Other foreign deferred tax assets | 187 | 197 | |||||||||||||||||||
Share-based compensation | 107 | 111 | |||||||||||||||||||
Legal settlements | 20 | 45 | |||||||||||||||||||
Repatriation of foreign earnings | 49 | 86 | |||||||||||||||||||
Internal transfer of intellectual property | 223 | — | |||||||||||||||||||
Other | 357 | 344 | |||||||||||||||||||
Total deferred tax assets | 9,423 | 9,460 | |||||||||||||||||||
Valuation allowance | (4,623 | ) | (4,404 | ) | |||||||||||||||||
Net deferred tax assets | 4,800 | 5,056 | |||||||||||||||||||
Deferred tax liabilities | |||||||||||||||||||||
Depreciation | (148 | ) | (147 | ) | |||||||||||||||||
Acquired intangible assets | (2,567 | ) | (2,768 | ) | |||||||||||||||||
Other | (780 | ) | (734 | ) | |||||||||||||||||
Total deferred tax liabilities | (3,495 | ) | (3,649 | ) | |||||||||||||||||
Deferred tax assets, net | $ | 1,305 | $ | 1,407 | |||||||||||||||||
Recognized as: | |||||||||||||||||||||
Assets held-for-sale | $ | 125 | $ | — | |||||||||||||||||
Deferred income taxes – current | 1,701 | 1,597 | |||||||||||||||||||
Deferred income taxes – non-current | 508 | 203 | |||||||||||||||||||
U.S. and foreign income taxes payable – current | (10 | ) | (10 | ) | |||||||||||||||||
Liabilities related to assets held-for-sale | (946 | ) | — | ||||||||||||||||||
Deferred income taxes – non-current | (73 | ) | (383 | ) | |||||||||||||||||
Total | $ | 1,305 | $ | 1,407 | |||||||||||||||||
Summary of Valuation Allowance [Table Text Block] | ' | ||||||||||||||||||||
Changes in the valuation allowance were as follows: | |||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||||||||||
Balance at beginning of year | $ | 4,404 | $ | 3,920 | $ | 1,863 | |||||||||||||||
Provision | 252 | 494 | 2,410 | ||||||||||||||||||
Utilization | (68 | ) | (145 | ) | (135 | ) | |||||||||||||||
Foreign currency translation | 40 | 39 | (222 | ) | |||||||||||||||||
Acquisitions | (5 | ) | 96 | 4 | |||||||||||||||||
Balance at end of year | $ | 4,623 | $ | 4,404 | $ | 3,920 | |||||||||||||||
Summary of Income Tax Contingencies [Table Text Block] | ' | ||||||||||||||||||||
A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows: | |||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||||||||||
Balance at beginning of year | $ | 642 | $ | 628 | $ | 845 | |||||||||||||||
Gross additions to tax positions related to current year | 74 | 46 | 44 | ||||||||||||||||||
Gross additions to tax positions related to prior years | 108 | 66 | 105 | ||||||||||||||||||
Gross additions to tax positions assumed in acquisitions | — | 31 | 1 | ||||||||||||||||||
Gross reductions to tax positions related to prior years | (87 | ) | (57 | ) | (325 | ) | |||||||||||||||
Settlements | 26 | (54 | ) | (30 | ) | ||||||||||||||||
Reductions to tax positions related to lapse of statute | (8 | ) | (19 | ) | (7 | ) | |||||||||||||||
Cumulative translation adjustment | 1 | 1 | (5 | ) | |||||||||||||||||
Balance at end of year | $ | 756 | $ | 642 | $ | 628 | |||||||||||||||
Summary of Income Tax Examinations [Table Text Block] | ' | ||||||||||||||||||||
Additional information regarding unrecognized tax benefits is as follows: | |||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||||||||||
Unrecognized tax benefits that if recognized would impact the effective tax rate | $ | 508 | $ | 633 | $ | 570 | |||||||||||||||
Accrued interest | 83 | 59 | 51 | ||||||||||||||||||
Accrued penalties | 34 | 32 | 25 | ||||||||||||||||||
Interest expense | 24 | 14 | 10 | ||||||||||||||||||
Penalty expense | 3 | 16 | 7 | ||||||||||||||||||
EARNINGS_PER_SHARE_Tables
EARNINGS PER SHARE (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | ||||||||||||
Year Ended December 31, | |||||||||||||
Amounts in Millions, Except Per Share Data | 2013 | 2012 | 2011 | ||||||||||
Net Earnings Attributable to BMS | $ | 2,563 | $ | 1,960 | $ | 3,709 | |||||||
Earnings attributable to unvested restricted shares | — | (1 | ) | (8 | ) | ||||||||
Net Earnings Attributable to BMS common shareholders | $ | 2,563 | $ | 1,959 | $ | 3,701 | |||||||
Earnings per share - basic | $ | 1.56 | $ | 1.17 | $ | 2.18 | |||||||
Weighted-average common shares outstanding - basic | 1,644 | 1,670 | 1,700 | ||||||||||
Contingently convertible debt common stock equivalents | 1 | 1 | 1 | ||||||||||
Incremental shares attributable to share-based compensation plans | 17 | 17 | 16 | ||||||||||
Weighted-average common shares outstanding - diluted | 1,662 | 1,688 | 1,717 | ||||||||||
Earnings per share - diluted | $ | 1.54 | $ | 1.16 | $ | 2.16 | |||||||
Anti-dilutive weighted-average equivalent shares - stock incentive plans | — | 2 | 13 | ||||||||||
FINANCIAL_INSTRUMENTS_AND_FAIR1
FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Financial Instruments [Abstract] | ' | ||||||||||||||||||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
Financial assets and liabilities measured at fair value on a recurring basis are summarized below: | |||||||||||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||||||||||||||
Dollars in Millions | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||
Cash and cash equivalents - Money market and other securities | $ | — | $ | 3,201 | $ | — | $ | 3,201 | $ | — | $ | 1,288 | $ | — | $ | 1,288 | |||||||||||||||||
Marketable securities | |||||||||||||||||||||||||||||||||
Certificates of deposit | — | 122 | — | 122 | — | 34 | — | 34 | |||||||||||||||||||||||||
Corporate debt securities | — | 4,432 | — | 4,432 | — | 4,377 | — | 4,377 | |||||||||||||||||||||||||
U.S. Treasury securities | — | — | — | — | 150 | — | — | 150 | |||||||||||||||||||||||||
Equity funds | — | 74 | — | 74 | — | 57 | — | 57 | |||||||||||||||||||||||||
Fixed income funds | — | 46 | — | 46 | — | 47 | — | 47 | |||||||||||||||||||||||||
ARS and FRS | — | — | 12 | 12 | — | — | 31 | 31 | |||||||||||||||||||||||||
Derivative assets: | |||||||||||||||||||||||||||||||||
Interest rate swap contracts | — | 64 | — | 64 | — | 146 | — | 146 | |||||||||||||||||||||||||
Foreign currency forward contracts | — | 50 | — | 50 | — | 59 | — | 59 | |||||||||||||||||||||||||
Derivative liabilities: | |||||||||||||||||||||||||||||||||
Interest rate swap contracts | — | (27 | ) | — | (27 | ) | — | — | — | — | |||||||||||||||||||||||
Foreign currency forward contracts | — | (35 | ) | — | (35 | ) | — | (30 | ) | — | (30 | ) | |||||||||||||||||||||
Written option liabilities(a) | — | — | (162 | ) | (162 | ) | — | — | (18 | ) | (18 | ) | |||||||||||||||||||||
Contingent consideration liability(b) | — | — | (8 | ) | (8 | ) | — | — | (8 | ) | (8 | ) | |||||||||||||||||||||
(a) | Written option liabilities of $18 million and $144 million are included in accrued expenses and other liabilities, respectively. See "Note 3. Alliances" for further in | ||||||||||||||||||||||||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
The following table summarizes the activity the financial assets utilizing Level 3 fair value measurements: | |||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||
Dollars in Millions | Written option liabilities | Contingent consideration liability | ARS and FRS | Written option liabilities | Contingent consideration liability | ARS and FRS | |||||||||||||||||||||||||||
Fair value at January 1 | $ | (18 | ) | $ | (8 | ) | $ | 31 | $ | — | $ | (8 | ) | $ | 110 | ||||||||||||||||||
Additions from new alliances | (144 | ) | — | — | (18 | ) | — | — | |||||||||||||||||||||||||
Unrealized gains | — | — | 1 | — | — | 2 | |||||||||||||||||||||||||||
Sales | — | — | (20 | ) | — | — | (81 | ) | |||||||||||||||||||||||||
Fair value at December 31 | $ | (162 | ) | $ | (8 | ) | $ | 12 | $ | (18 | ) | $ | (8 | ) | $ | 31 | |||||||||||||||||
Available-for-sale Securities [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
The following table summarizes available-for-sale securities: | |||||||||||||||||||||||||||||||||
Dollars in Millions | Amortized | Gross | Gross | Fair Value | |||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||||||||||||||||||
Gain in | Loss in | ||||||||||||||||||||||||||||||||
Accumulated | Accumulated | ||||||||||||||||||||||||||||||||
OCI | OCI | ||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||
Certificates of deposit | $ | 122 | $ | — | $ | — | $ | 122 | |||||||||||||||||||||||||
Corporate debt securities | 4,401 | 44 | (13 | ) | 4,432 | ||||||||||||||||||||||||||||
ARS | 9 | 3 | — | 12 | |||||||||||||||||||||||||||||
Total | 4,532 | 47 | (13 | ) | 4,566 | ||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||
Certificates of deposit | $ | 34 | $ | — | $ | — | $ | 34 | |||||||||||||||||||||||||
Corporate debt securities | 4,305 | 72 | — | 4,377 | |||||||||||||||||||||||||||||
U.S. Treasury securities | 150 | — | — | 150 | |||||||||||||||||||||||||||||
ARS and FRS | 29 | 3 | (1 | ) | 31 | ||||||||||||||||||||||||||||
Total | 4,518 | 75 | (1 | ) | 4,592 | ||||||||||||||||||||||||||||
Schedule of Derivatives and Fair Value [Text Block] | ' | ||||||||||||||||||||||||||||||||
The following summarizes the fair value of outstanding derivatives: | |||||||||||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||||||||||||||
Dollars in Millions | Balance Sheet Location | Notional | Fair Value | Notional | Fair Value | ||||||||||||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||||||||||||||||
Interest rate swap contracts | Other assets | $ | 673 | $ | 64 | $ | 573 | $ | 146 | ||||||||||||||||||||||||
Interest rate swap contracts | Other liabilities | 1,950 | (27 | ) | — | — | |||||||||||||||||||||||||||
Foreign currency forward contracts | Prepaid expenses and other | 301 | 44 | — | — | ||||||||||||||||||||||||||||
Foreign currency forward contracts | Other assets | 100 | 6 | 735 | 59 | ||||||||||||||||||||||||||||
Foreign currency forward contracts | Accrued expenses | 704 | (31 | ) | 916 | (30 | ) | ||||||||||||||||||||||||||
Foreign currency forward contracts | Other liabilities | 263 | (4 | ) | — | — | |||||||||||||||||||||||||||
Schedule Of Short-term Debt And Current Portion of Long Term Debt [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
Short-term borrowings and the current portion of long-term debt includes: | |||||||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||||||
Dollars in Millions | 2013 | 2012 | |||||||||||||||||||||||||||||||
Bank drafts and short-term borrowings | $ | 359 | $ | 162 | |||||||||||||||||||||||||||||
Current portion of long-term debt | — | 664 | |||||||||||||||||||||||||||||||
Total | $ | 359 | $ | 826 | |||||||||||||||||||||||||||||
Schedule of Long-term Debt Instruments [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
Long-term debt and the current portion of long-term debt includes: | |||||||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||||||
Dollars in Millions | 2013 | 2012 | |||||||||||||||||||||||||||||||
Principal Value: | |||||||||||||||||||||||||||||||||
5.25% Notes due 2013 | $ | — | $ | 597 | |||||||||||||||||||||||||||||
4.375% Euro Notes due 2016 | 684 | 659 | |||||||||||||||||||||||||||||||
0.875% Notes due 2017 | 750 | 750 | |||||||||||||||||||||||||||||||
5.45% Notes due 2018 | 582 | 582 | |||||||||||||||||||||||||||||||
1.75% Notes due 2019 | 500 | — | |||||||||||||||||||||||||||||||
4.625% Euro Notes due 2021 | 684 | 659 | |||||||||||||||||||||||||||||||
2.000% Notes due 2022 | 750 | 750 | |||||||||||||||||||||||||||||||
7.15% Debentures due 2023 | 304 | 304 | |||||||||||||||||||||||||||||||
3.250% Notes due 2023 | 500 | — | |||||||||||||||||||||||||||||||
6.80% Debentures due 2026 | 330 | 330 | |||||||||||||||||||||||||||||||
5.875% Notes due 2036 | 625 | 625 | |||||||||||||||||||||||||||||||
6.125% Notes due 2038 | 480 | 480 | |||||||||||||||||||||||||||||||
3.250% Notes due 2042 | 500 | 500 | |||||||||||||||||||||||||||||||
4.500% Notes due 2044 | 500 | — | |||||||||||||||||||||||||||||||
6.88% Debentures due 2097 | 260 | 260 | |||||||||||||||||||||||||||||||
0% - 5.75% Other - maturing 2014 - 2030 | 144 | 135 | |||||||||||||||||||||||||||||||
Subtotal | 7,593 | 6,631 | |||||||||||||||||||||||||||||||
Adjustments to Principal Value: | |||||||||||||||||||||||||||||||||
Fair value of interest rate swap contracts | 37 | 146 | |||||||||||||||||||||||||||||||
Unamortized basis adjustment from swap terminations | 442 | 509 | |||||||||||||||||||||||||||||||
Unamortized bond discounts | (64 | ) | (54 | ) | |||||||||||||||||||||||||||||
Total | $ | 8,008 | $ | 7,232 | |||||||||||||||||||||||||||||
Current portion of long-term debt(a) | $ | 27 | $ | 664 | |||||||||||||||||||||||||||||
Long-term debt | 7,981 | 6,568 | |||||||||||||||||||||||||||||||
Schedule of Debt Repurchases [Text Block] | ' | ||||||||||||||||||||||||||||||||
Debt repurchase activity for 2012 and 2011, including repayment of the Amylin debt obligations, was as follows: | |||||||||||||||||||||||||||||||||
Dollars in Millions | 2012 | 2011 | |||||||||||||||||||||||||||||||
Principal amount | $ | 2,052 | $ | 71 | |||||||||||||||||||||||||||||
Carrying value | 2,081 | 88 | |||||||||||||||||||||||||||||||
Repurchase price | 2,108 | 78 | |||||||||||||||||||||||||||||||
Notional amount of interest rate swap contracts terminated | 6 | 34 | |||||||||||||||||||||||||||||||
Swap termination proceeds | 2 | 6 | |||||||||||||||||||||||||||||||
Total loss/(gain) | 27 | (10 | ) | ||||||||||||||||||||||||||||||
RECEIVABLES_Tables
RECEIVABLES (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounts Receivable, Net [Abstract] | ' | ||||||||||||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | ' | ||||||||||||
Receivables include: | |||||||||||||
December 31, | |||||||||||||
Dollars in Millions | 2013 | 2012 | |||||||||||
Trade receivables | $ | 1,779 | $ | 1,812 | |||||||||
Less allowances | (89 | ) | (104 | ) | |||||||||
Net trade receivables | 1,690 | 1,708 | |||||||||||
Alliance partners receivables | 1,122 | 857 | |||||||||||
Prepaid and refundable income taxes | 262 | 319 | |||||||||||
Miscellaneous receivables | 286 | 199 | |||||||||||
Receivables | $ | 3,360 | $ | 3,083 | |||||||||
Receivables Allowance [Table Text Block] | ' | ||||||||||||
Changes to the allowances for bad debt, charge-backs and cash discounts were as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||
Balance at beginning of year | $ | 104 | $ | 147 | $ | 107 | |||||||
Provision | 720 | 832 | 1,094 | ||||||||||
Utilization | (731 | ) | (875 | ) | (1,054 | ) | |||||||
Assets held-for-sale | (4 | ) | — | — | |||||||||
Balance at end of year | $ | 89 | $ | 104 | $ | 147 | |||||||
INVENTORIES_Tables
INVENTORIES (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Inventory, Net [Abstract] | ' | ||||||||
Schedule of Inventories [Table Text Block] | ' | ||||||||
Inventories include: | |||||||||
December 31, | |||||||||
Dollars in Millions | 2013 | 2012 | |||||||
Finished goods | $ | 491 | $ | 572 | |||||
Work in process | 757 | 814 | |||||||
Raw and packaging materials | 250 | 271 | |||||||
Inventories | $ | 1,498 | $ | 1,657 | |||||
PROPERTY_PLANT_AND_EQUIPMENT_T
PROPERTY, PLANT AND EQUIPMENT (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment [Table Text Block] | ' | ||||||||
Property, plant and equipment includes: | |||||||||
December 31, | |||||||||
Dollars in Millions | 2013 | 2012 | |||||||
Land | $ | 109 | $ | 114 | |||||
Buildings | 4,748 | 4,963 | |||||||
Machinery, equipment and fixtures | 3,699 | 3,695 | |||||||
Construction in progress | 287 | 611 | |||||||
Gross property, plant and equipment | 8,843 | 9,383 | |||||||
Less accumulated depreciation | (4,264 | ) | (4,050 | ) | |||||
Property, plant and equipment | $ | 4,579 | $ | 5,333 | |||||
GOODWILL_AND_OTHER_INTANGIBLE_1
GOODWILL AND OTHER INTANGIBLE ASSETS (Tables) | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||||||||
Schedule of Goodwill [Table Text Block] | ' | ||||||||||||||||||||||||||
Changes in the carrying amount of goodwill were as follows: | |||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||
Dollars in Millions | 2013 | 2012 | |||||||||||||||||||||||||
Carrying amount of goodwill at January 1 | $ | 7,635 | $ | 5,586 | |||||||||||||||||||||||
Acquisitions: | |||||||||||||||||||||||||||
Inhibitex | — | 1,213 | |||||||||||||||||||||||||
Amylin | 11 | 836 | |||||||||||||||||||||||||
Assets held-for-sale | (550 | ) | — | ||||||||||||||||||||||||
Carrying amount of goodwill at December 31 | $ | 7,096 | $ | 7,635 | |||||||||||||||||||||||
Schedule Of Intangible Assets Excluding Goodwill By Major Class [Table Text Block] | ' | ||||||||||||||||||||||||||
: | |||||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||||||||
Dollars in Millions | Estimated | Gross | Accumulated | Net | Gross | Accumulated | Net | ||||||||||||||||||||
Useful Lives | Carrying | Amortization | Carrying | Carrying | Amortization | Carrying | |||||||||||||||||||||
Amount | Amount | Amount | Amount | ||||||||||||||||||||||||
Licenses | 5 – 15 years | $ | 1,162 | $ | 637 | $ | 525 | $ | 1,160 | $ | 534 | $ | 626 | ||||||||||||||
Developed technology rights | 9 – 15 years | 2,486 | 1,482 | 1,004 | 8,827 | 1,604 | 7,223 | ||||||||||||||||||||
Capitalized software | 3 – 10 years | 1,240 | 999 | 241 | 1,200 | 939 | 261 | ||||||||||||||||||||
Total finite-lived intangible assets | 4,888 | 3,118 | 1,770 | 11,187 | 3,077 | 8,110 | |||||||||||||||||||||
IPRD | 548 | — | 548 | 668 | — | 668 | |||||||||||||||||||||
Total other intangible assets | $ | 5,436 | $ | 3,118 | $ | 2,318 | $ | 11,855 | $ | 3,077 | $ | 8,778 | |||||||||||||||
Rollforward Of Other Intangible Assets [Table Text Block] | ' | ||||||||||||||||||||||||||
Changes in other intangible assets were as follows: | |||||||||||||||||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||||||||||||||||
Other intangible assets carrying amount at January 1 | $ | 8,778 | $ | 3,124 | $ | 3,370 | |||||||||||||||||||||
Capitalized software and other additions | 80 | 60 | 75 | ||||||||||||||||||||||||
Acquisitions | — | 8,335 | 160 | ||||||||||||||||||||||||
Amortization expense | (858 | ) | (607 | ) | (353 | ) | |||||||||||||||||||||
Impairment charges | — | (2,134 | ) | (30 | ) | ||||||||||||||||||||||
Assets held-for-sale | (5,682 | ) | — | — | |||||||||||||||||||||||
Other | — | — | (98 | ) | |||||||||||||||||||||||
Other intangible assets, net carrying amount at December 31 | $ | 2,318 | $ | 8,778 | $ | 3,124 | |||||||||||||||||||||
ACCRUED_EXPENSES_Tables
ACCRUED EXPENSES (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Accrued Liabilities, Current [Abstract] | ' | ||||||||
Schedule of Accrued Liabilities [Table Text Block] | ' | ||||||||
Accrued expenses include: | |||||||||
December 31, | |||||||||
Dollars in Millions | 2013 | 2012 | |||||||
Employee compensation and benefits | $ | 735 | $ | 844 | |||||
Royalties | 173 | 152 | |||||||
Accrued research and development | 380 | 418 | |||||||
Restructuring - current | 73 | 120 | |||||||
Pension and postretirement benefits | 47 | 49 | |||||||
Accrued litigation | 65 | 162 | |||||||
Other | 679 | 828 | |||||||
Total accrued expenses | $ | 2,152 | $ | 2,573 | |||||
SALES_REBATES_AND_RETURN_ACCRU1
SALES REBATES AND RETURN ACCRUALS (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Sales Rebates And Return Accruals [Abstract] | ' | ||||||||
Schedule Of Sales Rebates And Return Accruals [Table Text Block] | ' | ||||||||
Reductions to trade receivables and accrued rebates and returns liabilities are as follows: | |||||||||
December 31, | |||||||||
Dollars in Millions | 2013 | 2012 | |||||||
Charge-backs related to government programs | $ | 37 | $ | 41 | |||||
Cash discounts | 12 | 13 | |||||||
Reductions to trade receivables | $ | 49 | $ | 54 | |||||
Managed healthcare rebates and other contract discounts | $ | 147 | $ | 175 | |||||
Medicaid rebates | 227 | 351 | |||||||
Sales returns | 279 | 345 | |||||||
Other adjustments | 236 | 183 | |||||||
Accrued rebates and returns | $ | 889 | $ | 1,054 | |||||
DEFERRED_INCOME_Tables
DEFERRED INCOME (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Deferred Income [Abstract] | ' | ||||||||
Schedule of Deferred Income [Text Block] | ' | ||||||||
Deferred income includes: | |||||||||
December 31, | |||||||||
Dollars in Millions | 2013 | 2012 | |||||||
Upfront, milestone and other licensing receipts | $ | 970 | $ | 4,346 | |||||
Atripla* deferred revenue | 468 | 339 | |||||||
Gain on sale-leaseback transactions | 71 | 99 | |||||||
Other | 16 | 65 | |||||||
Total deferred income | $ | 1,525 | $ | 4,849 | |||||
Current portion | $ | 756 | $ | 825 | |||||
Non-current portion | 769 | 4,024 | |||||||
EQUITY_Tables
EQUITY (Tables) | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||||||||||
Schedule of Stockholders Equity [Table Text Block] | ' | ||||||||||||||||||||||||||
Common Stock | Capital in Excess | Retained | Treasury Stock | Noncontrolling | |||||||||||||||||||||||
of Par Value | Earnings | Interest | |||||||||||||||||||||||||
Dollars and Shares in Millions | Shares | Par Value | of Stock | Shares | Cost | ||||||||||||||||||||||
Balance at January 1, 2011 | 2,205 | $ | 220 | $ | 3,682 | $ | 31,636 | 501 | $ | (17,454 | ) | $ | (75 | ) | |||||||||||||
Net earnings | — | — | — | 3,709 | — | — | 2,333 | ||||||||||||||||||||
Cash dividends declared | — | — | — | (2,276 | ) | — | — | — | |||||||||||||||||||
Stock repurchase program | — | — | — | — | 42 | (1,226 | ) | — | |||||||||||||||||||
Employee stock compensation plans | — | — | (568 | ) | — | (28 | ) | 1,278 | — | ||||||||||||||||||
Other comprehensive income attributable to noncontrolling interest | — | — | — | — | — | — | 7 | ||||||||||||||||||||
Distributions | — | — | — | — | — | — | (2,354 | ) | |||||||||||||||||||
Balance at December 31, 2011 | 2,205 | 220 | 3,114 | 33,069 | 515 | (17,402 | ) | (89 | ) | ||||||||||||||||||
Net earnings | — | — | — | 1,960 | — | — | 850 | ||||||||||||||||||||
Cash dividends declared | — | — | — | (2,296 | ) | — | — | — | |||||||||||||||||||
Stock repurchase program | — | — | — | — | 73 | (2,407 | ) | — | |||||||||||||||||||
Employee stock compensation plans | 3 | 1 | (420 | ) | — | (18 | ) | 986 | — | ||||||||||||||||||
Other comprehensive income attributable to noncontrolling interest | — | — | — | — | — | — | (6 | ) | |||||||||||||||||||
Distributions | — | — | — | — | — | — | (740 | ) | |||||||||||||||||||
Balance at December 31, 2012 | 2,208 | 221 | 2,694 | 32,733 | 570 | (18,823 | ) | 15 | |||||||||||||||||||
Net earnings | — | — | — | 2,563 | — | — | 38 | ||||||||||||||||||||
Cash dividends declared | — | — | — | (2,344 | ) | — | — | — | |||||||||||||||||||
Stock repurchase program | — | — | — | — | 11 | (413 | ) | — | |||||||||||||||||||
Employee stock compensation plans | — | — | (772 | ) | — | (22 | ) | 1,436 | — | ||||||||||||||||||
Distributions | — | — | — | — | — | — | 29 | ||||||||||||||||||||
Balance at December 31, 2013 | 2,208 | $ | 221 | $ | 1,922 | $ | 32,952 | 559 | $ | (17,800 | ) | $ | 82 | ||||||||||||||
Schedule of Comprehensive Income (Loss) [Table Text Block] | ' | ||||||||||||||||||||||||||
The components of other comprehensive income/(loss) were as follows: | |||||||||||||||||||||||||||
Dollars in Millions | Pretax | Tax | After Tax | ||||||||||||||||||||||||
2011 | |||||||||||||||||||||||||||
Derivatives qualifying as cash flow hedges:(a) | |||||||||||||||||||||||||||
Unrealized gains | $ | 28 | $ | (4 | ) | $ | 24 | ||||||||||||||||||||
Reclassified to net earnings | 52 | (20 | ) | 32 | |||||||||||||||||||||||
Derivatives qualifying as cash flow hedges | 80 | (24 | ) | 56 | |||||||||||||||||||||||
Pension and other postretirement benefits: | |||||||||||||||||||||||||||
Actuarial losses | (1,251 | ) | 421 | (830 | ) | ||||||||||||||||||||||
Amortization(b) | 115 | (34 | ) | 81 | |||||||||||||||||||||||
Settlements and curtailments(c) | 11 | (4 | ) | 7 | |||||||||||||||||||||||
Pension and other postretirement benefits | (1,125 | ) | 383 | (742 | ) | ||||||||||||||||||||||
Available for sale securities, unrealized gains | 35 | (7 | ) | 28 | |||||||||||||||||||||||
Foreign currency translation | (16 | ) | — | (16 | ) | ||||||||||||||||||||||
$ | (1,026 | ) | $ | 352 | $ | (674 | ) | ||||||||||||||||||||
2012 | |||||||||||||||||||||||||||
Derivatives qualifying as cash flow hedges:(a) | |||||||||||||||||||||||||||
Unrealized gains | $ | 26 | $ | (17 | ) | $ | 9 | ||||||||||||||||||||
Reclassified to net earnings | (56 | ) | 20 | (36 | ) | ||||||||||||||||||||||
Derivatives qualifying as cash flow hedges | (30 | ) | 3 | (27 | ) | ||||||||||||||||||||||
Pension and other postretirement benefits: | |||||||||||||||||||||||||||
Actuarial losses | (432 | ) | 121 | (311 | ) | ||||||||||||||||||||||
Amortization(b) | 133 | (43 | ) | 90 | |||||||||||||||||||||||
Settlements and curtailments(c) | 159 | (56 | ) | 103 | |||||||||||||||||||||||
Pension and other postretirement benefits | (140 | ) | 22 | (118 | ) | ||||||||||||||||||||||
Available for sale securities: | |||||||||||||||||||||||||||
Unrealized gains | 20 | (8 | ) | 12 | |||||||||||||||||||||||
Realized gains(d) | (11 | ) | 2 | (9 | ) | ||||||||||||||||||||||
Available for sale securities | 9 | (6 | ) | 3 | |||||||||||||||||||||||
Foreign currency translation | (15 | ) | — | (15 | ) | ||||||||||||||||||||||
$ | (176 | ) | $ | 19 | $ | (157 | ) | ||||||||||||||||||||
2013 | |||||||||||||||||||||||||||
Derivatives qualifying as cash flow hedges:(a) | |||||||||||||||||||||||||||
Unrealized gains | $ | 58 | $ | (17 | ) | $ | 41 | ||||||||||||||||||||
Reclassified to net earnings | (56 | ) | 22 | (34 | ) | ||||||||||||||||||||||
Derivatives qualifying as cash flow hedges | 2 | 5 | 7 | ||||||||||||||||||||||||
Pension and other postretirement benefits: | |||||||||||||||||||||||||||
Actuarial gains | 1,475 | (504 | ) | 971 | |||||||||||||||||||||||
Amortization(b) | 129 | (43 | ) | 86 | |||||||||||||||||||||||
Settlements(c) | 165 | (56 | ) | 109 | |||||||||||||||||||||||
Pension and other postretirement benefits | 1,769 | (603 | ) | 1,166 | |||||||||||||||||||||||
Available for sale securities: | |||||||||||||||||||||||||||
Unrealized losses | (35 | ) | 3 | (32 | ) | ||||||||||||||||||||||
Realized gains(d) | (8 | ) | 3 | (5 | ) | ||||||||||||||||||||||
Available for sale securities | (43 | ) | 6 | (37 | ) | ||||||||||||||||||||||
Foreign currency translation | (75 | ) | — | (75 | ) | ||||||||||||||||||||||
$ | 1,653 | $ | (592 | ) | $ | 1,061 | |||||||||||||||||||||
(a) | Reclassifications to net earnings of derivatives qualifying as effective hedges are recognized in costs of products sold. | ||||||||||||||||||||||||||
(b) | Actuarial losses and prior service cost/(credits) are amortized into cost of products sold, research and development, and marketing, selling and administrative expenses. | ||||||||||||||||||||||||||
(c) | Pension settlements and curtailments are recognized in other (income)/expense. | ||||||||||||||||||||||||||
(d) | Realized (gains)/losses on available for sale securities are recognized in other (income)/expense. | ||||||||||||||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | ||||||||||||||||||||||||||
The accumulated balances related to each component of other comprehensive income/(loss), net of taxes, were as follows: | |||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||
Dollars in Millions | 2013 | 2012 | |||||||||||||||||||||||||
Derivatives qualifying as cash flow hedges | $ | 16 | $ | 9 | |||||||||||||||||||||||
Pension and other postretirement benefits | (1,857 | ) | (3,023 | ) | |||||||||||||||||||||||
Available for sale securities | 28 | 65 | |||||||||||||||||||||||||
Foreign currency translation | (328 | ) | (253 | ) | |||||||||||||||||||||||
Accumulated other comprehensive income/(loss) | $ | (2,141 | ) | $ | (3,202 | ) |
PENSION_AND_POSTRETIREMENT_BEN1
PENSION AND POSTRETIREMENT BENEFIT PLANS (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||
Schedule Of Net Benefit Costs [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
The net periodic benefit (credit)/cost of defined benefit pension and postretirement benefit plans includes: | |||||||||||||||||||||||||||||||||
Pension Benefits | Other Benefits | ||||||||||||||||||||||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||
Service cost — benefits earned during the year | $ | 38 | $ | 32 | $ | 43 | $ | 8 | $ | 8 | $ | 8 | |||||||||||||||||||||
Interest cost on projected benefit obligation | 302 | 319 | 337 | 13 | 22 | 26 | |||||||||||||||||||||||||||
Expected return on plan assets | (519 | ) | (508 | ) | (464 | ) | (26 | ) | (25 | ) | (26 | ) | |||||||||||||||||||||
Amortization of prior service credits | (4 | ) | (3 | ) | (1 | ) | (2 | ) | (2 | ) | (3 | ) | |||||||||||||||||||||
Amortization of net actuarial loss | 134 | 129 | 112 | 1 | 10 | 7 | |||||||||||||||||||||||||||
Curtailments | — | (1 | ) | (3 | ) | — | — | (1 | ) | ||||||||||||||||||||||||
Settlements | 165 | 160 | 15 | — | — | — | |||||||||||||||||||||||||||
Total net periodic benefit (credit)/cost | $ | 116 | $ | 128 | $ | 39 | $ | (6 | ) | $ | 13 | $ | 11 | ||||||||||||||||||||
Schedule Of Defined Benefit Obligations And Assets [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
Changes in defined benefit and postretirement benefit plan obligations, assets, funded status and amounts recognized in the consolidated balance sheets were as follows: | |||||||||||||||||||||||||||||||||
Pension Benefits | Other Benefits | ||||||||||||||||||||||||||||||||
Dollars in Millions | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||
Benefit obligations at beginning of year | $ | 8,200 | $ | 7,499 | $ | 460 | $ | 582 | |||||||||||||||||||||||||
Service cost—benefits earned during the year | 38 | 32 | 8 | 8 | |||||||||||||||||||||||||||||
Interest cost | 302 | 319 | 13 | 22 | |||||||||||||||||||||||||||||
Plan participants’ contributions | 2 | 2 | 23 | 24 | |||||||||||||||||||||||||||||
Curtailments | — | (19 | ) | — | — | ||||||||||||||||||||||||||||
Settlements | (350 | ) | (260 | ) | — | — | |||||||||||||||||||||||||||
Plan amendments | (1 | ) | (8 | ) | — | — | |||||||||||||||||||||||||||
Actuarial losses/(gains) | (761 | ) | 838 | (43 | ) | (107 | ) | ||||||||||||||||||||||||||
Retiree Drug Subsidy | — | — | 6 | 6 | |||||||||||||||||||||||||||||
Benefits paid | (206 | ) | (227 | ) | (63 | ) | (76 | ) | |||||||||||||||||||||||||
Exchange rate losses | 9 | 24 | — | 1 | |||||||||||||||||||||||||||||
Benefit obligations at end of year | $ | 7,233 | $ | 8,200 | $ | 404 | $ | 460 | |||||||||||||||||||||||||
Fair value of plan assets at beginning of year | $ | 6,542 | $ | 5,842 | $ | 311 | $ | 305 | |||||||||||||||||||||||||
Actual return on plan assets | 1,154 | 761 | 61 | 41 | |||||||||||||||||||||||||||||
Employer contributions | 251 | 396 | 9 | 11 | |||||||||||||||||||||||||||||
Plan participants’ contributions | 2 | 2 | 23 | 24 | |||||||||||||||||||||||||||||
Settlements | (350 | ) | (260 | ) | — | — | |||||||||||||||||||||||||||
Retiree Drug Subsidy | — | — | 6 | 6 | |||||||||||||||||||||||||||||
Benefits paid | (206 | ) | (227 | ) | (63 | ) | (76 | ) | |||||||||||||||||||||||||
Exchange rate gains | 13 | 28 | — | — | |||||||||||||||||||||||||||||
Fair value of plan assets at end of year | $ | 7,406 | $ | 6,542 | $ | 347 | $ | 311 | |||||||||||||||||||||||||
Funded status | $ | 173 | $ | (1,658 | ) | $ | (57 | ) | $ | (149 | ) | ||||||||||||||||||||||
Assets/(Liabilities) recognized: | |||||||||||||||||||||||||||||||||
Other assets | $ | 731 | $ | 22 | $ | 87 | $ | 12 | |||||||||||||||||||||||||
Accrued expenses | (35 | ) | (37 | ) | (12 | ) | (12 | ) | |||||||||||||||||||||||||
Pension and other postretirement liabilities | (523 | ) | (1,643 | ) | (132 | ) | (149 | ) | |||||||||||||||||||||||||
Funded status | $ | 173 | $ | (1,658 | ) | $ | (57 | ) | $ | (149 | ) | ||||||||||||||||||||||
Recognized in accumulated other comprehensive loss: | |||||||||||||||||||||||||||||||||
Net actuarial losses/(gains) | $ | 2,878 | $ | 4,572 | $ | (44 | ) | $ | 34 | ||||||||||||||||||||||||
Net obligation at adoption | — | 1 | — | — | |||||||||||||||||||||||||||||
Prior service credit | (41 | ) | (44 | ) | (4 | ) | (6 | ) | |||||||||||||||||||||||||
Total | $ | 2,837 | $ | 4,529 | $ | (48 | ) | $ | 28 | ||||||||||||||||||||||||
Schedule Of Accumulated And Projected Benefit Obligation In Excess Of Fair Value Of Plan Assets [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
Additional information related to pension plans was as follows: | |||||||||||||||||||||||||||||||||
Dollars in Millions | 2013 | 2012 | |||||||||||||||||||||||||||||||
Pension plans with projected benefit obligations in excess of plan assets: | |||||||||||||||||||||||||||||||||
Projected benefit obligation | $ | 1,291 | $ | 8,112 | |||||||||||||||||||||||||||||
Fair value of plan assets | 732 | 6,432 | |||||||||||||||||||||||||||||||
Pension plans with accumulated benefit obligations in excess of plan assets: | |||||||||||||||||||||||||||||||||
Accumulated benefit obligation | $ | 1,101 | $ | 7,987 | |||||||||||||||||||||||||||||
Fair value of plan assets | 608 | 6,432 | |||||||||||||||||||||||||||||||
Schedule Of Defined Benefit Actuarial Assumptions Benefit Obligations [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
Weighted-average assumptions used to determine benefit obligations at December 31 were as follows: | |||||||||||||||||||||||||||||||||
Pension Benefits | Other Benefits | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Discount rate | 4.4 | % | 3.7 | % | 3.8 | % | 3 | % | |||||||||||||||||||||||||
Rate of compensation increase | 2.3 | % | 2.3 | % | 2.1 | % | 2 | % | |||||||||||||||||||||||||
Schedule Of Defined Benefit Actuarial Assumptions Net Periodic Benefit Cost [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
Weighted-average actuarial assumptions used to determine net periodic benefit (credit)/cost for the years ended December 31 were as follows: | |||||||||||||||||||||||||||||||||
Pension Benefits | Other Benefits | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||
Discount rate | 4.1 | % | 4.4 | % | 5.2 | % | 3 | % | 4.1 | % | 4.8 | % | |||||||||||||||||||||
Expected long-term return on plan assets | 8 | % | 8.2 | % | 8.3 | % | 8.8 | % | 8.8 | % | 8.8 | % | |||||||||||||||||||||
Rate of compensation increase | 2.3 | % | 2.3 | % | 2.4 | % | 2.1 | % | 2 | % | 2 | % | |||||||||||||||||||||
Schedule Of Defined Benefit Historical Long Term Actual Returns [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
Historical long-term actual annualized returns for U.S. pension plans were as follows: | |||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||
10 years | 8 | % | 8.5 | % | 5.6 | % | |||||||||||||||||||||||||||
15 years | 6.8 | % | 6.5 | % | 7 | % | |||||||||||||||||||||||||||
20 years | 8.8 | % | 8.5 | % | 8.1 | % | |||||||||||||||||||||||||||
Schedule Of Health Care Cost Trend Rates [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
Assumed healthcare cost trend rates at December 31 were as follows: | |||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||
Healthcare cost trend rate assumed for next year | 6.4 | % | 6.8 | % | 7.4 | % | |||||||||||||||||||||||||||
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) | 4.5 | % | 4.5 | % | 4.5 | % | |||||||||||||||||||||||||||
Year that the rate reaches the ultimate trend rate | 2019 | 2018 | 2018 | ||||||||||||||||||||||||||||||
Schedule Of Effect Of One Percentage Point Change In Assumed Health Care Cost Trend Rates [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
Assumed healthcare cost trend rates have an effect on the amounts reported for the healthcare plans. A one-percentage-point change in assumed healthcare cost trend rates would not have a material impact on the service and interest cost or post retirement benefit obligation. | |||||||||||||||||||||||||||||||||
Schedule Of Allocation Of Plan Assets [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
The fair value of pension and postretirement plan assets by asset category at December 31, 2013 and 2012 was as follows: | |||||||||||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||||||||||||||
Dollars in Millions | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||
Equity Securities | $ | 1,804 | $ | — | $ | — | $ | 1,804 | $ | 2,196 | $ | — | $ | — | $ | 2,196 | |||||||||||||||||
Equity Funds | 534 | 1,679 | — | 2,213 | 410 | 1,555 | — | 1,965 | |||||||||||||||||||||||||
Fixed Income Funds | 238 | 657 | — | 895 | 234 | 401 | — | 635 | |||||||||||||||||||||||||
Corporate Debt Securities | — | 1,410 | — | 1,410 | — | 453 | 3 | 456 | |||||||||||||||||||||||||
Venture Capital and Limited Partnerships | — | — | 369 | 369 | — | — | 381 | 381 | |||||||||||||||||||||||||
Government Mortgage Backed Securities | — | 1 | — | 1 | — | 350 | 8 | 358 | |||||||||||||||||||||||||
U.S. Treasury and Agency Securities | — | 514 | — | 514 | — | 259 | — | 259 | |||||||||||||||||||||||||
Short-Term Investment Funds | — | 122 | — | 122 | — | 189 | — | 189 | |||||||||||||||||||||||||
Insurance Contracts | — | — | 142 | 142 | — | — | 132 | 132 | |||||||||||||||||||||||||
Event Driven Hedge Funds | — | 122 | — | 122 | — | 92 | — | 92 | |||||||||||||||||||||||||
Collateralized Mortgage Obligation Bonds | — | — | — | — | — | 50 | 6 | 56 | |||||||||||||||||||||||||
State and Municipal Bonds | — | 24 | — | 24 | — | 44 | 3 | 47 | |||||||||||||||||||||||||
Asset Backed Securities | — | — | — | — | — | 23 | 3 | 26 | |||||||||||||||||||||||||
Real Estate | 4 | — | — | 4 | 3 | — | — | 3 | |||||||||||||||||||||||||
Cash and Cash Equivalents | 133 | — | — | 133 | 58 | — | — | 58 | |||||||||||||||||||||||||
Total plan assets at fair value | $ | 2,713 | $ | 4,529 | $ | 511 | $ | 7,753 | $ | 2,901 | $ | 3,416 | $ | 536 | $ | 6,853 | |||||||||||||||||
Schedule of Level Three Defined Benefit Plan Assets Roll Forward [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
The following summarizes the activity for financial assets utilizing Level 3 fair value measurements: | |||||||||||||||||||||||||||||||||
Dollars in Millions | Venture Capital | Insurance | Other | Total | |||||||||||||||||||||||||||||
and Limited | Contracts | ||||||||||||||||||||||||||||||||
Partnerships | |||||||||||||||||||||||||||||||||
Fair value at January 1, 2012 | $ | 408 | $ | 125 | $ | 33 | $ | 566 | |||||||||||||||||||||||||
Purchases | 43 | 5 | — | 48 | |||||||||||||||||||||||||||||
Sales | (8 | ) | (7 | ) | (10 | ) | (25 | ) | |||||||||||||||||||||||||
Settlements | (51 | ) | — | (2 | ) | (53 | ) | ||||||||||||||||||||||||||
Realized (losses)/gains | 53 | — | (4 | ) | 49 | ||||||||||||||||||||||||||||
Unrealized gains/(losses) | (64 | ) | 9 | 6 | (49 | ) | |||||||||||||||||||||||||||
Fair value at December 31, 2012 | 381 | 132 | 23 | 536 | |||||||||||||||||||||||||||||
Purchases | 22 | 4 | — | 26 | |||||||||||||||||||||||||||||
Sales | (12 | ) | (8 | ) | (4 | ) | (24 | ) | |||||||||||||||||||||||||
Settlements | (101 | ) | — | (19 | ) | (120 | ) | ||||||||||||||||||||||||||
Realized gains | 48 | 5 | — | 53 | |||||||||||||||||||||||||||||
Unrealized gains | 31 | 9 | — | 40 | |||||||||||||||||||||||||||||
Fair value at December 31, 2013 | $ | 369 | $ | 142 | $ | — | $ | 511 | |||||||||||||||||||||||||
Schedule Of Expected Benefit Payments [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
Estimated Future Benefit Payments | |||||||||||||||||||||||||||||||||
Pension | Other | ||||||||||||||||||||||||||||||||
Dollars in Millions | Benefits | Benefits | |||||||||||||||||||||||||||||||
2014 | $ | 411 | $ | 44 | |||||||||||||||||||||||||||||
2015 | 366 | 42 | |||||||||||||||||||||||||||||||
2016 | 377 | 40 | |||||||||||||||||||||||||||||||
2017 | 382 | 38 | |||||||||||||||||||||||||||||||
2018 | 380 | 35 | |||||||||||||||||||||||||||||||
Years 2019 – 2023 | 1,974 | 144 | |||||||||||||||||||||||||||||||
EMPLOYEE_STOCK_BENEFIT_PLANS_T
EMPLOYEE STOCK BENEFIT PLANS (Tables) | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||||||||||||
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block] | ' | ||||||||||||||||||||||||||
Stock-based compensation expense was as follows: | |||||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||||
Dollars in Millions | 2013 | 2012 | 2011 | ||||||||||||||||||||||||
Stock options | $ | 2 | $ | 7 | $ | 27 | |||||||||||||||||||||
Restricted stock | 74 | 64 | 79 | ||||||||||||||||||||||||
Market share units | 29 | 23 | 23 | ||||||||||||||||||||||||
Long-term performance awards | 86 | 60 | 32 | ||||||||||||||||||||||||
Amylin stock options and restricted stock units (see Note 4) | — | 94 | — | ||||||||||||||||||||||||
Total stock-based compensation expense | $ | 191 | $ | 248 | $ | 161 | |||||||||||||||||||||
Income tax benefit | $ | 64 | $ | 82 | $ | 56 | |||||||||||||||||||||
Schedule of Share-based Compensation, Activity [Table Text Block] | ' | ||||||||||||||||||||||||||
Share-based compensation activities were as follows: | |||||||||||||||||||||||||||
Stock Options | Restricted Stock Units | Market Share Units | Long-Term Performance Awards | ||||||||||||||||||||||||
Number of | Weighted- | Number | Weighted- | Number | Weighted- | Number | Weighted- | ||||||||||||||||||||
Options Outstanding | Average | of | Average | of | Average | of | Average | ||||||||||||||||||||
Shares in Thousands | Exercise Price of Shares | Nonvested Awards | Grant-Date Fair Value | Nonvested Awards | Grant-Date Fair Value | Nonvested Awards | Grant-Date Fair Value | ||||||||||||||||||||
Balance at January 1, 2013 | 41,965 | $ | 23.21 | 7,568 | $ | 27.18 | 2,204 | 28.46 | 4,096 | 28.44 | |||||||||||||||||
Granted | — | — | 2,653 | 38.73 | 1,025 | 37.4 | 2,464 | 37.4 | |||||||||||||||||||
Released/Exercised | (18,029 | ) | 23.62 | (3,050 | ) | 24.36 | (809 | ) | 27.08 | (2,072 | ) | 27.26 | |||||||||||||||
Adjustments for actual payout | — | — | — | — | (298 | ) | 27.08 | 38 | 37.4 | ||||||||||||||||||
Forfeited/Canceled | (813 | ) | 23.19 | (619 | ) | 30.97 | (290 | ) | 31.51 | (234 | ) | 34.66 | |||||||||||||||
Balance at December 31, 2013 | 23,123 | 22.88 | 6,552 | 32.81 | 1,832 | 33.82 | 4,292 | 33.75 | |||||||||||||||||||
Vested or expected to vest | 23,123 | 22.88 | 6,053 | 32.81 | 1,692 | 33.82 | 3,965 | 33.75 | |||||||||||||||||||
Schedule of Unrecognized Compensation Cost, Nonvested Awards [Table Text Block] | ' | ||||||||||||||||||||||||||
Total compensation costs related to share-based payment awards not yet recognized and the weighted-average period over which such awards are expected to be recognized at December 31, 2013 were as follows: | |||||||||||||||||||||||||||
Restricted | Market | Long-Term | |||||||||||||||||||||||||
Performance | |||||||||||||||||||||||||||
Dollars in Millions | Stock Units | Share Units | Awards | ||||||||||||||||||||||||
Unrecognized compensation cost | $ | 155 | $ | 32 | $ | 27 | |||||||||||||||||||||
Expected weighted-average period in years of compensation cost to be recognized | 2.7 | 2.6 | 1.4 | ||||||||||||||||||||||||
Schedule Of Share Based Compensation Additional Information [Table Text Block] | ' | ||||||||||||||||||||||||||
Additional information related to share-based compensation awards is summarized as follows: | |||||||||||||||||||||||||||
Amounts in Millions, except per share data | 2013 | 2012 | 2011 | ||||||||||||||||||||||||
Weighted-average grant date fair value (per share): | |||||||||||||||||||||||||||
Restricted stock units | $ | 38.73 | $ | 32.71 | $ | 26.04 | |||||||||||||||||||||
Market share units | 37.4 | 31.85 | 25.83 | ||||||||||||||||||||||||
Long-term performance awards | 37.4 | 32.33 | 25.3 | ||||||||||||||||||||||||
Fair value of options or awards that vested during the year: | |||||||||||||||||||||||||||
Stock options | $ | 11 | $ | 23 | $ | 45 | |||||||||||||||||||||
Restricted stock units | 74 | 74 | 75 | ||||||||||||||||||||||||
Market share units | 30 | 18 | 8 | ||||||||||||||||||||||||
Long-term performance awards | 90 | 56 | 21 | ||||||||||||||||||||||||
Total intrinsic value of stock options exercised during the year | $ | 323 | $ | 153 | $ | 154 | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable [Table Text Block] | ' | ||||||||||||||||||||||||||
The following table summarizes significant ranges of outstanding and exercisable options at December 31, 2013 (amounts in millions, except per share data): | |||||||||||||||||||||||||||
Options Outstanding and Exercisable | |||||||||||||||||||||||||||
Range of Exercise Prices | Number | Weighted-Average | Weighted-Average | Aggregate | |||||||||||||||||||||||
Outstanding and Exercisable (in thousands) | Remaining Contractual | Exercise Price | Intrinsic Value | ||||||||||||||||||||||||
Life (in years) | Per Share | ||||||||||||||||||||||||||
$1 - $20 | 6,457 | 5.16 | $ | 17.51 | $ | 230 | |||||||||||||||||||||
$20 - $30 | 16,660 | 2.49 | 24.96 | 470 | |||||||||||||||||||||||
$30 - $40 | 6 | 3.47 | 31.3 | — | |||||||||||||||||||||||
23,123 | 3.24 | 22.88 | $ | 700 | |||||||||||||||||||||||
LEASES_Tables
LEASES (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Leases, Operating [Abstract] | ' | ||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | ' | ||||
Minimum rental commitments for non-cancelable operating leases (primarily real estate and motor vehicles) in effect at December 31, 2013, were as follows: | |||||
Years Ending December 31, | Dollars in Millions | ||||
2014 | $ | 145 | |||
2015 | 137 | ||||
2016 | 117 | ||||
2017 | 77 | ||||
2018 | 65 | ||||
Later years | 73 | ||||
Total minimum rental commitments | $ | 614 | |||
SELECTED_QUARTERLY_FINANCIAL_D1
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables) | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||
Selected Quarterly Financial Information [Abstract] | ' | |||||||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | ' | |||||||||||||||||||||
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) | ||||||||||||||||||||||
Dollars in Millions, except per share data | First Quarter | Second Quarter | Third Quarter | Fourth Quarter | Year | |||||||||||||||||
2013 | ||||||||||||||||||||||
Total Revenues | $ | 3,831 | $ | 4,048 | $ | 4,065 | $ | 4,441 | $ | 16,385 | ||||||||||||
Gross Margin | 2,768 | 2,940 | 2,890 | 3,168 | 11,766 | |||||||||||||||||
Net Earnings | 623 | 530 | 692 | 735 | 2,580 | |||||||||||||||||
Net Earnings/(Loss) Attributable to: | ||||||||||||||||||||||
Noncontrolling Interest | 14 | (6 | ) | — | 9 | 17 | ||||||||||||||||
BMS | 609 | 536 | 692 | 726 | 2,563 | |||||||||||||||||
Earnings per Share - Basic(1) | $ | 0.37 | $ | 0.33 | $ | 0.42 | $ | 0.44 | $ | 1.56 | ||||||||||||
Earnings per Share - Diluted(1) | 0.37 | 0.32 | 0.42 | 0.44 | 1.54 | |||||||||||||||||
Cash dividends declared per common share | $ | 0.35 | $ | 0.35 | $ | 0.35 | $ | 0.36 | $ | 1.41 | ||||||||||||
Cash and cash equivalents | $ | 1,355 | $ | 1,821 | $ | 1,771 | $ | 3,586 | $ | 3,586 | ||||||||||||
Marketable securities(2) | 4,420 | 4,201 | 4,574 | 4,686 | 4,686 | |||||||||||||||||
Total Assets | 35,958 | 36,252 | 36,804 | 38,592 | 38,592 | |||||||||||||||||
Long-term debt(3) | 7,180 | 7,122 | 6,562 | 7,981 | 7,981 | |||||||||||||||||
Equity | 13,699 | 14,373 | 14,714 | 15,236 | 15,236 | |||||||||||||||||
Dollars in Millions, except per share data | First Quarter | Second Quarter | Third Quarter | Fourth Quarter | Year | |||||||||||||||||
2012 | ||||||||||||||||||||||
Total Revenues | $ | 5,251 | $ | 4,443 | $ | 3,736 | $ | 4,191 | $ | 17,621 | ||||||||||||
Gross Margin | 3,948 | 3,198 | 2,749 | 3,116 | 13,011 | |||||||||||||||||
Net Earnings/(Loss) | 1,482 | 808 | (713 | ) | 924 | 2,501 | ||||||||||||||||
Net Earnings/(Loss) Attributable to: | ||||||||||||||||||||||
Noncontrolling Interest | 381 | 163 | (2 | ) | (1 | ) | 541 | |||||||||||||||
BMS | 1,101 | 645 | (711 | ) | 925 | 1,960 | ||||||||||||||||
Earnings/(Loss) per Share - Basic(1) | $ | 0.65 | $ | 0.38 | $ | (0.43 | ) | $ | 0.56 | $ | 1.17 | |||||||||||
Earnings/(Loss) per Share - Diluted(1) | 0.64 | 0.38 | (0.43 | ) | 0.56 | 1.16 | ||||||||||||||||
Cash dividends declared per common share | $ | 0.34 | $ | 0.34 | $ | 0.34 | $ | 0.35 | $ | 1.37 | ||||||||||||
Cash and cash equivalents | $ | 2,307 | $ | 2,801 | $ | 1,503 | $ | 1,656 | $ | 1,656 | ||||||||||||
Marketable securities(2) | 6,307 | 5,968 | 5,125 | 4,696 | 4,696 | |||||||||||||||||
Total Assets | 32,408 | 31,667 | 36,044 | 35,897 | 35,897 | |||||||||||||||||
Long-term debt(3) | 5,270 | 5,209 | 7,227 | 7,232 | 7,232 | |||||||||||||||||
Equity | 16,246 | 15,812 | 13,900 | 13,638 | 13,638 | |||||||||||||||||
Selected Quarterly Data Specified Items [Table Text Block] | ' | |||||||||||||||||||||
The following specified items affected the comparability of results in 2013 and 2012: | ||||||||||||||||||||||
2013 | ||||||||||||||||||||||
Dollars in Millions | First | Second | Third | Fourth | Year | |||||||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||||||||
Accelerated depreciation, asset impairment and other shutdown costs | $ | — | $ | — | $ | — | $ | 36 | $ | 36 | ||||||||||||
Amortization of acquired Amylin intangible assets | 138 | 137 | 137 | 137 | 549 | |||||||||||||||||
Amortization of Amylin alliance proceeds | (67 | ) | (67 | ) | (68 | ) | (71 | ) | (273 | ) | ||||||||||||
Amortization of Amylin inventory adjustment | 14 | — | — | — | 14 | |||||||||||||||||
Cost of products sold | 85 | 70 | 69 | 102 | 326 | |||||||||||||||||
Marketing, selling and administrative(a) | 1 | 1 | 4 | 10 | 16 | |||||||||||||||||
Research and development(b) | — | — | — | 16 | 16 | |||||||||||||||||
Provision for restructuring | 33 | 173 | 6 | 14 | 226 | |||||||||||||||||
Pension settlements | — | 99 | 37 | 25 | 161 | |||||||||||||||||
Acquisition and alliance related items | — | (10 | ) | — | — | (10 | ) | |||||||||||||||
Litigation charges/(recoveries) | — | (23 | ) | — | — | (23 | ) | |||||||||||||||
Upfront, milestone and other licensing receipts | (14 | ) | — | — | — | — | (14 | ) | ||||||||||||||
Other (income)/expense | 19 | 239 | 43 | 39 | 340 | |||||||||||||||||
Increase to pretax income | 105 | 310 | 116 | 167 | 698 | |||||||||||||||||
Income tax on items above | (35 | ) | (116 | ) | (40 | ) | (51 | ) | (242 | ) | ||||||||||||
Increase to net earnings | $ | 70 | $ | 194 | $ | 76 | $ | 116 | $ | 456 | ||||||||||||
(a) | Specified items in marketing, selling and administrative are process standardization implementation costs. | |||||||||||||||||||||
(b) | Specified items in research and development are upfront, milestone and other licensing payments. | |||||||||||||||||||||
2012 | ||||||||||||||||||||||
Dollars in Millions | First | Second | Third | Fourth | Year | |||||||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||||||||
Accelerated depreciation, asset impairment and other shutdown costs | $ | — | $ | 147 | $ | — | $ | — | $ | 147 | ||||||||||||
Amortization of acquired Amylin intangible assets | — | — | 91 | 138 | 229 | |||||||||||||||||
Amortization of Amylin alliance proceeds | — | — | (46 | ) | (68 | ) | (114 | ) | ||||||||||||||
Amortization of Amylin inventory adjustment | — | — | 9 | 14 | 23 | |||||||||||||||||
Cost of products sold | — | 147 | 54 | 84 | 285 | |||||||||||||||||
Stock compensation from accelerated vesting of Amylin awards | — | — | 67 | — | 67 | |||||||||||||||||
Process standardization implementation costs | 8 | 5 | 3 | 2 | 18 | |||||||||||||||||
Marketing, selling and administrative | 8 | 5 | 70 | 2 | 85 | |||||||||||||||||
Stock compensation from accelerated vesting of Amylin awards | — | — | 27 | — | 27 | |||||||||||||||||
Upfront, milestone and other licensing payments | — | — | 21 | 26 | 47 | |||||||||||||||||
IPRD impairment | 58 | 45 | — | 39 | 142 | |||||||||||||||||
Research and development | 58 | 45 | 48 | 65 | 216 | |||||||||||||||||
Impairment charge for BMS-986094 intangible asset | — | — | 1,830 | — | 1,830 | |||||||||||||||||
Provision for restructuring | 22 | 20 | 29 | 103 | 174 | |||||||||||||||||
Gain on sale of product lines, businesses and assets | — | — | — | (51 | ) | (51 | ) | |||||||||||||||
Pension settlements | — | — | — | 151 | 151 | |||||||||||||||||
Acquisition and alliance related items | 12 | 1 | 29 | 1 | 43 | |||||||||||||||||
Litigation charges/(recoveries) | (172 | ) | 22 | 50 | 55 | (45 | ) | |||||||||||||||
Upfront, milestone and other licensing receipts | — | — | — | (10 | ) | (10 | ) | |||||||||||||||
Out-licensed intangible asset impairment | 38 | — | — | — | 38 | |||||||||||||||||
Loss on debt repurchases | 19 | — | 8 | — | 27 | |||||||||||||||||
Other (income)/expense | (81 | ) | 43 | 116 | 249 | 327 | ||||||||||||||||
Increase to pretax income | (15 | ) | 240 | 2,118 | 400 | 2,743 | ||||||||||||||||
Income tax on items above | 8 | (77 | ) | (722 | ) | (156 | ) | (947 | ) | |||||||||||||
Specified tax benefit(a) | — | — | — | (392 | ) | (392 | ) | |||||||||||||||
Income taxes | 8 | (77 | ) | (722 | ) | (548 | ) | (1,339 | ) | |||||||||||||
Increase/(Decrease) to Net Earnings | $ | (7 | ) | $ | 163 | $ | 1,396 | $ | (148 | ) | $ | 1,404 | ||||||||||
ACCOUNTING_POLICIES_Details
ACCOUNTING POLICIES (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Direct Operating Costs [Abstract] | ' | ' | ' |
Shipping and handling costs | $119 | $125 | $139 |
Reduction in deferred tax assets expected from the adoption of a recently issued accounting standard | $250 | ' | ' |
Buildings [Member] | Minimum [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Useful life of property, plant and equipment | '20 years 0 months 0 days | ' | ' |
Buildings [Member] | Maximum [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Useful life of property, plant and equipment | '50 years 0 months 0 days | ' | ' |
Machinery equipment and fixtures [Member] | Minimum [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Useful life of property, plant and equipment | '3 years 0 months 0 days | ' | ' |
Machinery equipment and fixtures [Member] | Maximum [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Useful life of property, plant and equipment | '20 years 0 months 0 days | ' | ' |
BUSINESS_SEGMENT_INFORMATION_M
BUSINESS SEGMENT INFORMATION (Major Customers) (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Concentration Risk [Line Items] | ' | ' | ' |
The number of the largest pharmaceutical wholesalers in the U.S. | 3 | ' | ' |
Customer Concentration Risk [Member] | McKesson Corporation [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Gross sales to three largest pharmaceutical wholesalers in the U.S., percentage of total gross sales | 19.00% | 23.00% | 26.00% |
Customer Concentration Risk [Member] | Cardinal Health, Inc. [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Gross sales to three largest pharmaceutical wholesalers in the U.S., percentage of total gross sales | 14.00% | 19.00% | 21.00% |
Customer Concentration Risk [Member] | Amerisourcebergen Corporation [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Gross sales to three largest pharmaceutical wholesalers in the U.S., percentage of total gross sales | 15.00% | 14.00% | 16.00% |
BUSINESS_SEGMENT_INFORMATION_G
BUSINESS SEGMENT INFORMATION (Geographic Information) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenues | $4,441 | $4,065 | $4,048 | $3,831 | $4,191 | $3,736 | $4,443 | $5,251 | $16,385 | $17,621 | $21,244 |
Property, Plant and Equipment | 4,579 | ' | ' | ' | 5,333 | ' | ' | ' | 4,579 | 5,333 | ' |
United States [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 8,318 | 10,384 | 14,039 |
Property, Plant and Equipment | 3,708 | ' | ' | ' | 4,464 | ' | ' | ' | 3,708 | 4,464 | ' |
Europe [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 3,930 | 3,706 | 3,879 |
Property, Plant and Equipment | 729 | ' | ' | ' | 740 | ' | ' | ' | 729 | 740 | ' |
Rest Of World [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 3,295 | 3,204 | 3,237 |
Property, Plant and Equipment | 142 | ' | ' | ' | 129 | ' | ' | ' | 142 | 129 | ' |
Other Region [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenues | ' | ' | ' | ' | ' | ' | ' | ' | $842 | $327 | $89 |
BUSINESS_SEGMENT_INFORMATION_N
BUSINESS SEGMENT INFORMATION (Net Sales of Key Products) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenues | $4,441 | $4,065 | $4,048 | $3,831 | $4,191 | $3,736 | $4,443 | $5,251 | $16,385 | $17,621 | $21,244 |
Alliance and other revenues | ' | ' | ' | ' | ' | ' | ' | ' | 4,081 | 3,967 | 3,622 |
Baraclude [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 1,527 | 1,388 | 1,196 |
Reyataz [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 1,551 | 1,521 | 1,569 |
Sustiva Franchise [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 1,614 | 1,527 | 1,485 |
Alliance and other revenues | ' | ' | ' | ' | ' | ' | ' | ' | 1,366 | 1,267 | 1,203 |
Erbitux [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 696 | 702 | 691 |
Sprycel [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 1,280 | 1,019 | 803 |
Yervoy [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 960 | 706 | 360 |
Abilify [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 2,289 | 2,827 | 2,758 |
Alliance and other revenues | ' | ' | ' | ' | ' | ' | ' | ' | 1,840 | 2,340 | 2,303 |
Bydureon [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 298 | 78 | ' |
Byetta [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 400 | 149 | ' |
Forxiga [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 23 | ' | ' |
Onglyza Kombiglyze [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 877 | 709 | 473 |
Nulojix [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 26 | 11 | 3 |
Orencia [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 1,444 | 1,176 | 917 |
Avapro Avalide [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 231 | 503 | 952 |
Eliquis [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 146 | 2 | ' |
Plavix [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 258 | 2,547 | 7,087 |
Mature Products And All Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenues | ' | ' | ' | ' | ' | ' | ' | ' | $2,765 | $2,756 | $2,950 |
ALLIANCES_Otsuka_Details
ALLIANCES (Otsuka) (Details) (USD $) | 3 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Apr. 30, 2009 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Abilify [Member] | Abilify [Member] | Abilify [Member] | Oncology Territory [Member] | Oncology Territory [Member] | Oncology Territory [Member] | Alliance Partners [Member] | Alliance Partners [Member] | Alliance Partners [Member] | Otsuka [Member] | Otsuka [Member] | Otsuka [Member] | Otsuka [Member] | Otsuka [Member] | Otsuka [Member] | Otsuka [Member] | Otsuka [Member] | Otsuka [Member] | Otsuka [Member] | Otsuka [Member] | Otsuka [Member] | Otsuka [Member] | Otsuka [Member] | Otsuka [Member] | Otsuka [Member] | Otsuka [Member] | Otsuka [Member] | Otsuka [Member] | Otsuka [Member] | Otsuka [Member] | Otsuka [Member] | Otsuka [Member] | Otsuka [Member] | Otsuka [Member] | Otsuka [Member] | Otsuka [Member] | Otsuka [Member] | Otsuka [Member] | Otsuka [Member] | ||||||||||||
Sprycel and Ixempra [Member] | Sprycel and Ixempra [Member] | Sprycel and Ixempra [Member] | United States [Member] | United States [Member] | United States [Member] | United States [Member] | United States [Member] | United States [Member] | United States [Member] | United States [Member] | United States [Member] | United States [Member] | United States [Member] | United States [Member] | United States [Member] | United States [Member] | France, Germany, Spain, United Kingdom and Italy [Member] | Oncology Territory [Member] | Oncology Territory [Member] | Oncology Territory [Member] | Oncology Territory [Member] | Oncology Territory [Member] | Oncology Territory [Member] | Oncology Territory [Member] | Oncology Territory [Member] | Oncology Territory [Member] | Oncology Territory [Member] | Oncology Territory [Member] | Oncology Territory [Member] | |||||||||||||||||||||
Abilify [Member] | Abilify [Member] | Abilify [Member] | Abilify [Member] | Abilify [Member] | Abilify [Member] | Abilify [Member] | Abilify [Member] | Abilify [Member] | Abilify [Member] | Abilify [Member] | Abilify [Member] | Abilify [Member] | Abilify [Member] | Abilify [Member] | Sprycel and Ixempra [Member] | Sprycel and Ixempra [Member] | Sprycel and Ixempra [Member] | Sprycel and Ixempra [Member] | Sprycel and Ixempra [Member] | Sprycel and Ixempra [Member] | Sprycel and Ixempra [Member] | Sprycel and Ixempra [Member] | Sprycel and Ixempra [Member] | Sprycel and Ixempra [Member] | Sprycel and Ixempra [Member] | Sprycel and Ixempra [Member] | ||||||||||||||||||||||||
Annual net sales up to 2 Point 7 billion [Member] | Annual net sales between 2 Point 7 billion and 3 Point 2 billion [Member] | Annual net sales between 3 Point 2 billion and 3 Point 7 billion [Member] | Annual net sales between 3 Point 7 billion and 4 Point 0 billion [Member] | Annual net sales between 4 Point 0 billion and 4 Point 2 billion [Member] | Annual net sales over 4 Point 2 billion [Member] | Extension payment [Member] | Extension payment [Member] | Extension payment [Member] | Upfront, milestone and other licensing payments [Member] | Upfront, milestone and other licensing payments [Member] | Operating expense up to $175 million [Member] | Operating expenses over $175 million [Member] | Annual net sales up to $400 million [Member] | Annual net sales up to $400 million [Member] | Annual net sales between $400 and $600 million [Member] | Annual net sales between $400 and $600 million [Member] | Annual net sales between $600 and $800 million [Member] | Annual net sales between $600 and $800 million [Member] | Annual net sales between $800 million and $1 billion [Member] | Annual net sales between $800 million and $1 billion [Member] | Annual net sales over $1 billion [Member] | Annual net sales over $1 billion [Member] | ||||||||||||||||||||||||||||
Alliances Statement [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of third-party product sales recognized when BMS is the principal in the end customer sale | 100.00% | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net product sales | ' | ' | ' | ' | ' | ' | ' | ' | $12,304 | $13,654 | $17,622 | ' | ' | ' | ' | ' | ' | $4,417 | $6,124 | $10,460 | $1,543 | $1,386 | $1,181 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Alliance and other revenues | ' | ' | ' | ' | ' | ' | ' | ' | 4,081 | 3,967 | 3,622 | 1,840 | 2,340 | 2,303 | ' | ' | ' | 3,804 | 3,748 | 3,548 | 1,840 | 2,340 | 2,303 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenues | 4,441 | 4,065 | 4,048 | 3,831 | 4,191 | 3,736 | 4,443 | 5,251 | 16,385 | 17,621 | 21,244 | 2,289 | 2,827 | 2,758 | ' | ' | ' | 8,221 | 9,872 | 14,008 | 3,383 | 3,726 | 3,484 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to/(from) alliance partner- Cost of products sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,356 | 1,706 | 2,823 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to/(from) alliance partner - Marketing, selling and administrative | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -125 | -80 | -9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to/(from) alliance partner - Advertising and product promotion | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -58 | -97 | -86 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to/(from) alliance partner - Research and development | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -140 | 4 | 89 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to/(from) alliance partners - Other (income)/expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 313 | 489 | 317 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to noncontrolling interest, pre-tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 36 | 844 | 2,323 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Receivables - from alliance partners | 1,122 | ' | ' | ' | 857 | ' | ' | ' | 1,122 | 857 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts payable - to alliance partners | 1,396 | ' | ' | ' | 1,052 | ' | ' | ' | 1,396 | 1,052 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred income | 1,525 | ' | ' | ' | 4,849 | ' | ' | ' | 1,525 | 4,849 | ' | ' | ' | ' | ' | ' | ' | 5,089 | 4,647 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred income from alliances included in liabilities related to assets held-for-sale | 3,671 | ' | ' | ' | ' | ' | ' | ' | 3,671 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of net sales recognized from alliance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 34.00% | 51.50% | 53.50% | ' | ' | ' | 50.00% | 20.00% | 7.00% | 2.00% | 1.00% | 20.00% | ' | ' | ' | ' | ' | 65.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payment to extend term of commercialization agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of net sales payable to alliance partner | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 65.00% | 30.00% | 12.00% | 5.00% | 3.00% | 3.00% | 2.00% | 2.00% | 1.00% | 1.00% |
Percentage of operating expense reimbursements from alliance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Range of sales at which a given percentage will be paid to alliance partner - minimum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,700 | 3,200 | 3,700 | 4,000 | 4,200 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400 | ' | 600 | ' | 800 | ' | 1,000 | ' |
Range of sales at which a given percentage will be paid to alliance partner - maximum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,700 | 3,200 | 3,700 | 4,000 | 4,200 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400 | ' | 600 | ' | 800 | ' | 1,000 | ' | ' | ' |
Amount of operating expense at or below which alliance partner will reimburse given percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 175 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of operating expense over which alliance partner will reimburse given percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 175 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of products sold - Oncology fee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 295 | 138 | 134 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of products sold - Royalties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 86 | 78 | 72 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of products sold - Amortization of intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | 858 | 607 | 353 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | 6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of products sold - Cost of product supply | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 135 | 153 | 145 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost reimbursements to/(from) alliance partner | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -10 | -47 | -45 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other assets - extension payment | 1,428 | ' | ' | ' | 904 | ' | ' | ' | 1,428 | 904 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 87 | 153 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of the extension payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $66 | $66 | $66 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
ALLIANCES_AstraZeneca_Details
ALLIANCES (AstraZeneca) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Alliances Statement [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of agreements in alliance | 3 | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' |
Net product sales | ' | ' | ' | ' | ' | ' | ' | ' | $12,304,000,000 | $13,654,000,000 | $17,622,000,000 |
Alliance and other revenues | ' | ' | ' | ' | ' | ' | ' | ' | 4,081,000,000 | 3,967,000,000 | 3,622,000,000 |
Total Revenues | 4,441,000,000 | 4,065,000,000 | 4,048,000,000 | 3,831,000,000 | 4,191,000,000 | 3,736,000,000 | 4,443,000,000 | 5,251,000,000 | 16,385,000,000 | 17,621,000,000 | 21,244,000,000 |
The percentage of capital expenditures to be reimbursed by AstraZeneca | 50.00% | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' |
Deferred income from alliances included in liabilities related to assets held-for-sale | 3,671,000,000 | ' | ' | ' | ' | ' | ' | ' | 3,671,000,000 | ' | ' |
Deferred income | 1,525,000,000 | ' | ' | ' | 4,849,000,000 | ' | ' | ' | 1,525,000,000 | 4,849,000,000 | ' |
Number of months following the closing of the business sales transaction for when a manufacturing facility may be sold | '18 months | ' | ' | ' | ' | ' | ' | ' | '18 months | ' | ' |
Onglyza Kombiglyze [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Alliances Statement [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 877,000,000 | 709,000,000 | 473,000,000 |
Bydureon [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Alliances Statement [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 298,000,000 | 78,000,000 | ' |
Byetta [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Alliances Statement [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 400,000,000 | 149,000,000 | ' |
AstraZeneca [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Alliances Statement [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net product sales | ' | ' | ' | ' | ' | ' | ' | ' | 1,658,000,000 | 962,000,000 | 472,000,000 |
Alliance and other revenues | ' | ' | ' | ' | ' | ' | ' | ' | 16,000,000 | 10,000,000 | 1,000,000 |
Total Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 1,674,000,000 | 972,000,000 | 473,000,000 |
Payments to/(from) alliance partner- Cost of products sold | ' | ' | ' | ' | ' | ' | ' | ' | -25,000,000 | -4,000,000 | ' |
Payments to/(from) alliance partner - Marketing, selling and administrative | ' | ' | ' | ' | ' | ' | ' | ' | -127,000,000 | -66,000,000 | -14,000,000 |
Payments to/(from) alliance partner - Advertising and product promotion | ' | ' | ' | ' | ' | ' | ' | ' | -45,000,000 | -43,000,000 | -21,000,000 |
Payments to/(from) alliance partner - Research and development | ' | ' | ' | ' | ' | ' | ' | ' | -86,000,000 | -25,000,000 | 35,000,000 |
AstraZeneca [Member] | Amylin Acquisition [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Alliances Statement [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payment made by an alliance partner to enter into an alliance agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,600,000,000 | ' |
Payment made by an alliance partner to establish equal governance rights over certain key strategic and financial decisions regarding the alliance | ' | ' | ' | ' | ' | ' | ' | ' | 135,000,000 | ' | ' |
Useful life of property, plant and equipment | ' | ' | ' | ' | ' | ' | ' | ' | '15 years 0 months 0 days | ' | ' |
Provision for restructuring | ' | ' | ' | ' | ' | ' | ' | ' | -25,000,000 | -21,000,000 | ' |
AstraZeneca [Member] | Onglyza Kombiglyze [Member] | Upfront, milestone and other licensing payments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Alliances Statement [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total upfront, milestone and other licensing payments received to date | 300,000,000 | ' | ' | ' | ' | ' | ' | ' | 300,000,000 | ' | ' |
Deferred income from alliances included in liabilities related to assets held-for-sale | 191,000,000 | ' | ' | ' | ' | ' | ' | ' | 191,000,000 | ' | ' |
Deferred income | ' | ' | ' | ' | 208,000,000 | ' | ' | ' | ' | 208,000,000 | ' |
AstraZeneca [Member] | Amylin Related Products [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Alliances Statement [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of products sold - Amortization of deferred income | ' | ' | ' | ' | ' | ' | ' | ' | -307,000,000 | -126,000,000 | ' |
AstraZeneca [Member] | Amylin Related Products [Member] | Upfront, milestone and other licensing payments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Alliances Statement [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Upfront, milestone and other licensing payments received | ' | ' | ' | ' | ' | ' | ' | ' | 135,000,000 | 3,547,000,000 | ' |
Deferred income from alliances included in liabilities related to assets held-for-sale | 3,288,000,000 | ' | ' | ' | ' | ' | ' | ' | 3,288,000,000 | ' | ' |
Deferred income | ' | ' | ' | ' | 3,423,000,000 | ' | ' | ' | ' | 3,423,000,000 | ' |
AstraZeneca [Member] | Forxiga [Member] | Upfront, milestone and other licensing payments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Alliances Statement [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Upfront, milestone and other licensing payments received | ' | ' | ' | ' | ' | ' | ' | ' | 80,000,000 | ' | 120,000,000 |
Total upfront, milestone and other licensing payments received to date | 250,000,000 | ' | ' | ' | ' | ' | ' | ' | 250,000,000 | ' | ' |
Deferred income from alliances included in liabilities related to assets held-for-sale | 192,000,000 | ' | ' | ' | ' | ' | ' | ' | 192,000,000 | ' | ' |
Deferred income | ' | ' | ' | ' | 206,000,000 | ' | ' | ' | ' | 206,000,000 | ' |
AstraZeneca [Member] | Onglyza Kombiglyze Forxiga [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Alliances Statement [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of products sold - Profit sharing | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 207,000,000 |
Other (income)/expense - Amortization of deferred income | ' | ' | ' | ' | ' | ' | ' | ' | -31,000,000 | -38,000,000 | -38,000,000 |
AstraZeneca [Member] | Onglyza Kombiglyze Forxiga And Amylin Related Products [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Alliances Statement [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of products sold - Profit sharing | ' | ' | ' | ' | ' | ' | ' | ' | $673,000,000 | $425,000,000 | ' |
AstraZeneca [Member] | Bydureon [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Alliances Statement [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Useful life of intangible asset | ' | ' | ' | ' | ' | ' | ' | ' | '13 years 0 months 0 days | ' | ' |
AstraZeneca [Member] | Byetta [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Alliances Statement [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Useful life of intangible asset | ' | ' | ' | ' | ' | ' | ' | ' | '7 years 0 months 0 days | ' | ' |
AstraZeneca [Member] | Symlin [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Alliances Statement [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Useful life of intangible asset | ' | ' | ' | ' | ' | ' | ' | ' | '9 years 0 months 0 days | ' | ' |
AstraZeneca [Member] | Metreleptin [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Alliances Statement [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Useful life of intangible asset | ' | ' | ' | ' | ' | ' | ' | ' | '12 years 0 months 0 days | ' | ' |
ALLIANCES_Gilead_Details
ALLIANCES (Gilead) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Alliances Statement [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net product sales | ' | ' | ' | ' | ' | ' | ' | ' | $12,304 | $13,654 | $17,622 |
Alliance and other revenues | ' | ' | ' | ' | ' | ' | ' | ' | 4,081 | 3,967 | 3,622 |
Total Revenues | 4,441 | 4,065 | 4,048 | 3,831 | 4,191 | 3,736 | 4,443 | 5,251 | 16,385 | 17,621 | 21,244 |
Equity in net loss of affiliates | ' | ' | ' | ' | ' | ' | ' | ' | -166 | -183 | -281 |
Deferred income | 1,525 | ' | ' | ' | 4,849 | ' | ' | ' | 1,525 | 4,849 | ' |
Gilead [Member] | Bulk efavirenz component of Atripla [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Alliances Statement [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total number of months to receive royalty payments from alliance | '36 months | ' | ' | ' | ' | ' | ' | ' | '36 months | ' | ' |
Percentage of net sales recognized first year following the termination | 55.00% | ' | ' | ' | ' | ' | ' | ' | 55.00% | ' | ' |
Percentage of net sales recognized second year following the termination | 35.00% | ' | ' | ' | ' | ' | ' | ' | 35.00% | ' | ' |
Percentage of net sales recognized third year following the termination of the agreement | 15.00% | ' | ' | ' | ' | ' | ' | ' | 15.00% | ' | ' |
Net product sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 |
Alliance and other revenues | ' | ' | ' | ' | ' | ' | ' | ' | 1,366 | 1,267 | 1,203 |
Total Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 1,366 | 1,267 | 1,204 |
Equity in net loss of affiliates | ' | ' | ' | ' | ' | ' | ' | ' | 17 | 18 | 16 |
Deferred income | $468 | ' | ' | ' | $339 | ' | ' | ' | $468 | $339 | ' |
ALLIANCES_Lilly_Details
ALLIANCES (Lilly) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Alliances Statement [Line Items] | ' | ' | ' |
Net product sales | $12,304,000,000 | $13,654,000,000 | $17,622,000,000 |
Cost of products sold - Amortization of intangible assets | 858,000,000 | 607,000,000 | 353,000,000 |
Other (income)/expense | 205,000,000 | -80,000,000 | -334,000,000 |
Other intangible assets- Non-refundable upfront, milestone and other licensing payments | 2,318,000,000 | 8,778,000,000 | ' |
Lilly [Member] | ' | ' | ' |
Alliances Statement [Line Items] | ' | ' | ' |
Amount of promissory notes assumed in an acquisition that were repaid to Lilly | ' | 1,400,000,000 | ' |
Lilly [Member] | Upfront, milestone and other licensing payments [Member] | ' | ' | ' |
Alliances Statement [Line Items] | ' | ' | ' |
Other intangible assets- Non-refundable upfront, milestone and other licensing payments | 174,000,000 | 211,000,000 | ' |
Lilly [Member] | Erbitux [Member] | ' | ' | ' |
Alliances Statement [Line Items] | ' | ' | ' |
Net product sales | 696,000,000 | 702,000,000 | 691,000,000 |
Cost of products sold - Cost of product supply | 65,000,000 | 81,000,000 | 73,000,000 |
Cost reimbursements to/(from) alliance partner | -13,000,000 | 23,000,000 | 5,000,000 |
Lilly [Member] | Erbitux [Member] | Upfront, milestone and other licensing payments [Member] | ' | ' | ' |
Alliances Statement [Line Items] | ' | ' | ' |
Total upfront, milestone and other licensing payments | 500,000,000 | ' | ' |
Cost of products sold - Amortization of intangible assets | 37,000,000 | 38,000,000 | 37,000,000 |
Lilly [Member] | Erbitux [Member] | North America [Member] | ' | ' | ' |
Alliances Statement [Line Items] | ' | ' | ' |
Distribution fee, percentage of net sales | 39.00% | ' | ' |
Distribution fees and royalty - Cost of products sold | 289,000,000 | 291,000,000 | 287,000,000 |
Lilly and Merck KGaA [Member] | Erbitux [Member] | Japan [Member] | ' | ' | ' |
Alliances Statement [Line Items] | ' | ' | ' |
Percentage share of pre-tax profit/loss received from the net sales of a collaboration partner to be shared further equally with another collaboration partner. | 50.00% | ' | ' |
Lilly and Merck KGaA [Member] | Erbitux [Member] | Japan [Member] | Commercialization fee [Member] | ' | ' | ' |
Alliances Statement [Line Items] | ' | ' | ' |
Other (income)/expense | ($30,000,000) | ($37,000,000) | ($34,000,000) |
ALLIANCES_Sanofi_Details
ALLIANCES (Sanofi) (Details) (USD $) | 3 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2018 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Avapro Avalide [Member] | Avapro Avalide [Member] | Avapro Avalide [Member] | Sanofi [Member] | Sanofi [Member] | Sanofi [Member] | Sanofi [Member] | Sanofi [Member] | Sanofi [Member] | Sanofi [Member] | Sanofi [Member] | Sanofi [Member] | Sanofi [Member] | Sanofi [Member] | Sanofi [Member] | Sanofi [Member] | Sanofi [Member] | Sanofi [Member] | Sanofi [Member] | Sanofi [Member] | Sanofi [Member] | Sanofi [Member] | Sanofi [Member] | |||||||||||||
Avapro Avalide [Member] | Avapro Avalide [Member] | Avapro Avalide [Member] | Avapro, Avalide, and Plavix [Member] | Avapro, Avalide, and Plavix [Member] | Avapro, Avalide, and Plavix [Member] | Avapro, Avalide, and Plavix [Member] | Avalide [Member] | Territory Covering Americas and Australia [Member] | Territory Covering Americas and Australia [Member] | Territory Covering Americas and Australia [Member] | Territory Covering Europe and Asia [Member] | Territory Covering Europe and Asia [Member] | Territory Covering Europe and Asia [Member] | Territory Covering Europe and Asia [Member] | Territory Covering Europe and Asia [Member] | Territory Covering Europe and Asia [Member] | Territory Covering Europe and Asia [Member] | Territory Covering Europe and Asia [Member] | Territory Covering Europe and Asia [Member] | ||||||||||||||||
Active Pharmaceutical Ingredient Supply Arrangements [Member] | Active Pharmaceutical Ingredient Supply Arrangements [Member] | Active Pharmaceutical Ingredient Supply Arrangements [Member] | Avalide supply disruption [Member] | Avapro, Avalide, and Plavix [Member] | Avapro, Avalide, and Plavix [Member] | Avapro, Avalide, and Plavix [Member] | Avapro, Avalide, and Plavix [Member] | Avapro, Avalide, and Plavix [Member] | Avapro, Avalide, and Plavix [Member] | Avapro, Avalide, and Plavix [Member] | Avapro, Avalide, and Plavix [Member] | Avapro, Avalide, and Plavix [Member] | Avapro, Avalide, and Plavix [Member] | Avapro, Avalide, and Plavix [Member] | Avapro, Avalide, and Plavix [Member] | ||||||||||||||||||||
Discovery Royalties [Member] | Discovery Royalties [Member] | Discovery Royalties [Member] | Receivables And Payables Net Cash Distributions Intercompany Balances [Member] | Receivables And Payables Net Cash Distributions Intercompany Balances [Member] | Receivables And Payables Net Cash Distributions Intercompany Balances [Member] | ||||||||||||||||||||||||||||||
Alliances Statement [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payment from Sanofi related to restructuring of the alliance agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $200 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Controlling interest ownership percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.10% | ' | ' | 50.10% | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling interest ownership percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 49.90% | ' | ' | 49.90% | ' | ' | ' | ' | ' | ' | ' | ' |
Net product sales | ' | ' | ' | ' | ' | ' | ' | ' | 12,304 | 13,654 | 17,622 | ' | ' | ' | ' | ' | ' | ' | ' | 153 | 2,930 | 8,003 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Royalty revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 220 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Development and opt-out royalty income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 143 | 126 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Development royalty expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 67 | 182 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Previously deferred profit recognized upon restructuring of an alliance agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22 | ' | ' | ' | ' | ' | ' | ' | ' |
Alliance and other revenues | ' | ' | ' | ' | ' | ' | ' | ' | 4,081 | 3,967 | 3,622 | ' | ' | ' | ' | 116 | 117 | 33 | ' | 336 | 120 | 37 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenues | 4,441 | 4,065 | 4,048 | 3,831 | 4,191 | 3,736 | 4,443 | 5,251 | 16,385 | 17,621 | 21,244 | ' | 231 | 503 | 952 | ' | ' | ' | ' | 489 | 3,050 | 8,040 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of products sold - Cost of product supply | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | 81 | 245 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of products sold - Royalties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | 530 | 1,583 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity in net income of affiliates | ' | ' | ' | ' | ' | ' | ' | ' | -166 | -183 | -281 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -183 | -201 | -298 | ' | ' | ' | ' | ' | ' |
Other (income)/expense | ' | ' | ' | ' | ' | ' | ' | ' | 205 | -80 | -334 | ' | ' | ' | ' | ' | ' | ' | ' | -18 | -171 | 72 | 80 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling interest - pre-tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 36 | 844 | 2,323 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distribution (to)/from Sanofi - Noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | -29 | 740 | 2,354 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 43 | -742 | -2,335 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distributions from Sanofi - Noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 149 | 229 | 283 | ' | ' | ' | ' | ' | ' |
Investment in affiliates | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 43 | 9 | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling interest | 82 | ' | ' | ' | 15 | ' | ' | ' | 82 | 15 | -89 | -75 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 49 | -30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 395 | 1,077 | 1,469 | ' | ' | ' | ' | ' | ' |
Gross profit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 319 | 453 | 658 | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 313 | 394 | 562 | ' | ' | ' | ' | ' | ' |
Cost of products sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 38 | 133 | 184 | ' | ' | ' |
Current assets and current liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $108 | $293 | $400 |
ALLIANCES_Pfizer_Details
ALLIANCES (Pfizer) (Details) (USD $) | 3 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | ||||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Eliquis [Member] | Eliquis [Member] | Pfizer [Member] | Pfizer [Member] | Pfizer [Member] | Pfizer [Member] | Pfizer [Member] | Pfizer [Member] | Pfizer [Member] | Pfizer [Member] | Pfizer [Member] | ||||||||||||
Eliquis [Member] | Eliquis [Member] | Eliquis [Member] | Eliquis [Member] | Eliquis [Member] | Eliquis [Member] | Eliquis [Member] | ||||||||||||||||
Upfront, milestone and other licensing payments [Member] | Upfront, milestone and other licensing payments [Member] | Upfront, milestone and other licensing payments [Member] | Upfront, milestone and other licensing payments [Member] | |||||||||||||||||||
Alliances Statement [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum percentage of reimbursement for development costs from alliance partner | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' |
Maximum percentage of reimbursement for development costs from alliance partner | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60.00% | ' | ' | ' | ' | ' | ' |
Total upfront, milestone and other licensing payments received to date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $784 | ' | ' |
Upfront, milestone and other licensing payments received | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20 | 205 | 20 | 65 |
Potential additional development and regulatory milestone receipts | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100 | ' | ' |
Net product sales | ' | ' | ' | ' | ' | ' | ' | ' | 12,304 | 13,654 | 17,622 | ' | ' | 144 | 2 | ' | ' | ' | ' | ' | ' | ' |
Alliance and other revenues | ' | ' | ' | ' | ' | ' | ' | ' | 4,081 | 3,967 | 3,622 | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenues | 4,441 | 4,065 | 4,048 | 3,831 | 4,191 | 3,736 | 4,443 | 5,251 | 16,385 | 17,621 | 21,244 | 146 | 2 | 146 | 2 | ' | ' | ' | ' | ' | ' | ' |
Cost of products sold - Profit sharing | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 69 | 1 | ' | ' | ' | ' | ' |
Cost reimbursements to/(from) alliance partner | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | -11 | -75 | ' | ' | ' | ' |
Other (income)/expense - Amortization of deferred income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -41 | -37 | -33 |
Deferred income | $1,525 | ' | ' | ' | $4,849 | ' | ' | ' | $1,525 | $4,849 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $581 | $397 | ' |
ALLIANCES_ALLIANCES_Reckitt_Be
ALLIANCES ALLIANCES (Reckitt Benckiser Group) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Alliances Statement [Line Items] | ' | ' | ' |
Number of years in alliance period | 2 | ' | ' |
Net product sales | $12,304 | $13,654 | $17,622 |
Alliance and other revenues | 4,081 | 3,967 | 3,622 |
Reckitt Benckiser Group [Member] | ' | ' | ' |
Alliances Statement [Line Items] | ' | ' | ' |
Number of years in alliance period | 3 | ' | ' |
Alliance and other revenues | 116 | ' | ' |
Reckitt Benckiser Group [Member] | Over The Counter Products [Member] | ' | ' | ' |
Alliances Statement [Line Items] | ' | ' | ' |
Net product sales | ' | 100 | ' |
Reckitt Benckiser Group [Member] | Over The Counter Products [Member] | Upfront, milestone and other licensing payments [Member] | ' | ' | ' |
Alliances Statement [Line Items] | ' | ' | ' |
Upfront, milestone and other licensing payments received | 485 | ' | ' |
Upfront payment allocated to license and other rights transferred to a collaboration partner | 376 | ' | ' |
Upfront option fee to be received from a collaboration partner | $109 | ' | ' |
ALLIANCES_ALLIANCES_The_Medici
ALLIANCES ALLIANCES (The Medicines Company) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Alliances Statement [Line Items] | ' | ' | ' |
Number of years in alliance period | 2 | ' | ' |
Net product sales | $12,304 | $13,654 | $17,622 |
Alliance and other revenues | 4,081 | 3,967 | 3,622 |
The Medicines Company [Member] | ' | ' | ' |
Alliances Statement [Line Items] | ' | ' | ' |
Alliance and other revenues | 74 | ' | ' |
The Medicines Company [Member] | Recothrom [Member] | ' | ' | ' |
Alliances Statement [Line Items] | ' | ' | ' |
Net product sales | ' | 67 | ' |
The Medicines Company [Member] | Recothrom [Member] | Upfront, milestone and other licensing payments [Member] | ' | ' | ' |
Alliances Statement [Line Items] | ' | ' | ' |
Upfront, milestone and other licensing payments received | 115 | ' | ' |
Upfront payment allocated to license and other rights transferred to a collaboration partner | 80 | ' | ' |
Upfront option fee to be received from a collaboration partner | $35 | ' | ' |
ALLIANCES_Valeant_Details
ALLIANCES (Valeant) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Alliances Statement [Line Items] | ' | ' | ' |
Alliance and other revenues | $4,081 | $3,967 | $3,622 |
Net product sales | 12,304 | 13,654 | 17,622 |
Valeant [Member] | ' | ' | ' |
Alliances Statement [Line Items] | ' | ' | ' |
Upfront, milestone and other licensing payments received | ' | 79 | ' |
Upfront payment allocated to license and other rights transferred to a collaboration partner | ' | 61 | ' |
Upfront option fee to be received from a collaboration partner | ' | 18 | ' |
Alliance and other revenues | 49 | 5 | ' |
Net product sales | $4 | $5 | ' |
ACQUISITIONS_Details
ACQUISITIONS (Details) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 |
Amylin Pharmaceuticals, Inc. [Member] | Inhibitex, Inc. [Member] | Amira Pharmaceuticals [Member] | ||||
Acquisition [Line Items] | ' | ' | ' | ' | ' | ' |
Acquisition costs | ' | ' | ' | $29 | $12 | $1 |
Impairment charge for BMS-986094 intangible asset | 1,830 | ' | ' | ' | ' | ' |
Contingent milestone payment amount | ' | ' | ' | ' | ' | 50 |
Cash paid in an acquisition | ' | ' | ' | ' | ' | 325 |
Number of contingent milestone payments | ' | ' | ' | ' | ' | 3 |
Fair value of contingent consideration | ' | ' | ' | ' | ' | 58 |
Identifiable net assets and liabilities assumed - Cash | ' | ' | ' | 179 | 46 | 15 |
Identifiable net assets and liabilities assumed - Marketable securities | ' | ' | ' | 108 | 17 | ' |
Identifiable net assets and liabilities assumed - Inventory | ' | ' | ' | 173 | ' | ' |
Identifiable net assets and liabilities assumed - Property, plant and equipment | ' | ' | ' | 742 | ' | ' |
Identifiable net assets and liabilities assumed - Developed technology rights | ' | ' | ' | 6,340 | ' | ' |
Identifiable net assets and liabilities assumed - In-process research and development | ' | ' | ' | 120 | 1,875 | 160 |
Identifiable net assets and liabilities assumed - Other assets | ' | ' | ' | 136 | ' | ' |
Identifiable net assets and liabilities assumed - Debt obligations | ' | ' | ' | -2,020 | -23 | ' |
Identifiable net assets and liabilities assumed - Other liabilities | ' | ' | ' | -339 | -10 | -16 |
Identifiable net assets and liabilities assumed - Deferred income taxes | ' | ' | ' | -1,068 | -579 | -41 |
Identifiable net assets and liabilities assumed - Total identifiable net assets | ' | ' | ' | 4,371 | 1,326 | 118 |
Identifiable net assets and liabilities assumed - Goodwill | 7,635 | 7,096 | 5,586 | 847 | 1,213 | 265 |
Identifiable net assets and liabilities assumed - Total consideration transferred | ' | ' | ' | 5,218 | 2,539 | 383 |
Cash paid to outstanding common stockholders of the acquiree | ' | ' | ' | 5,093 | ' | ' |
Cash paid to option and restricted stock unit holders | ' | ' | ' | 219 | ' | ' |
Stock-based compensation expense | ' | ' | ' | $94 | ' | ' |
ASSETS_HELDFORSALE_Details
ASSETS HELD-FOR-SALE (Details) (USD $) | Dec. 31, 2013 |
Assets Held-For-Sale [Abstract] | ' |
Proceeds received at the closing of the transaction | $2,700,000,000 |
Proceeds from approval milestone | 600,000,000 |
Potential regulatory and sales-based milestone payments | 800,000,000 |
Maximum contingent payments if and when certain assets are transferred | 225,000,000 |
Receivables | 83,000,000 |
Inventories | 163,000,000 |
Deferred income taxes - current | 125,000,000 |
Prepaid expenses and other | 20,000,000 |
Property, plant and equipment | 678,000,000 |
Goodwill | 550,000,000 |
Other intangible assets | 5,682,000,000 |
Other assets | 119,000,000 |
Total assets held-for-sale | 7,420,000,000 |
Short-term borrowings and current portion of long-term debt | 27,000,000 |
Accounts payable | 30,000,000 |
Accrued expenses | 148,000,000 |
Deferred income - current | 352,000,000 |
Accrued rebates and returns | 81,000,000 |
Deferred income - noncurrent | 3,319,000,000 |
Deferred income taxes - noncurrent | 946,000,000 |
Other liabilities | 28,000,000 |
Total liabilities related to assets held-for-sale | $4,931,000,000 |
OTHER_INCOMEEXPENSE_Details
OTHER (INCOME)/EXPENSE (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Other Nonoperating Income (Expense) [Abstract] | ' | ' | ' |
Interest expense | $199 | $182 | $145 |
Investment income | -104 | -106 | -91 |
Provision for restructuring (See Note 7) | 226 | 174 | 116 |
Litigation charges/ (recoveries) | 20 | -45 | 6 |
Equity in net income of affiliates | -166 | -183 | -281 |
Out-licensed intangible asset impairment | ' | 38 | ' |
Gain on sale of product lines, businesses and assets | -2 | -53 | -37 |
Other income received from alliance partners, net | -148 | -312 | -140 |
Pension curtailments and settlements | 165 | 158 | 10 |
Other | 15 | 67 | -62 |
Other (income)/expense | $205 | ($80) | ($334) |
RESTRUCTURING_Details
RESTRUCTURING (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Restructuring Charges [Abstract] | ' | ' | ' |
Workforce reduction of manufacturing, selling, administrative, and research and development personnel | 1,450 | 1,205 | 822 |
Employee termination benefits | $211 | $145 | $85 |
Other exit costs | 15 | 29 | 31 |
Provision for restructuring | 226 | 174 | 116 |
Restructuring Reserve [Roll Forward] | ' | ' | ' |
Liability at January 1 | 167 | 77 | 126 |
Charges | 249 | 178 | 128 |
Change in estimates | -23 | -4 | -12 |
Foreign currency translation | 4 | -1 | 2 |
Amylin acquisition | ' | 26 | ' |
Liabilities related to assets held-for-sale | -67 | ' | ' |
Spending | -228 | -109 | -167 |
Liability at December 31 | $102 | $167 | $77 |
INCOME_TAXES_Provision_for_Inc
INCOME TAXES (Provision for Income Taxes) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | ' | ' | ' |
U.S. Current Income Tax Expense | $375 | $627 | $864 |
Non-U.S. Current Income Tax Expense | 427 | 442 | 442 |
Total Current Income Tax Expense | 802 | 1,069 | 1,306 |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | ' | ' | ' |
U.S. Deferred Income Tax Expense | -390 | -1,164 | 406 |
Non-U.S. Deferred Income Tax Expense | -101 | -66 | 9 |
Total Deferred Income Tax Expense | -491 | -1,230 | 415 |
Provision for/(Benefit from) Income Taxes | $311 | ($161) | $1,721 |
INCOME_TAXES_Effective_Tax_Rat
INCOME TAXES (Effective Tax Rate Reconciliation) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest [Abstract] | ' | ' | ' |
U.S Earnings/(Loss) before income taxes | ($135) | ($271) | $4,336 |
Non-U.S. Earnings before income taxes | 3,026 | 2,611 | 2,645 |
Earnings Before Income Taxes | 2,891 | 2,340 | 6,981 |
Effective Income Tax Rate Reconciliation, Amount [Abstract] | ' | ' | ' |
U.S. statutory rate, Amount | 1,012 | 819 | 2,443 |
Non-tax deductible annual pharmaceutical company fee, Amount | 63 | 90 | 80 |
Foreign tax effect of certain operations in Ireland, Puerto Rico and Switzerland | -620 | -688 | -593 |
State and local taxes (net of valuation allowance), Amount | 25 | 20 | 33 |
U.S. Federal, state and foreign contingent tax matters, Amount | 134 | 66 | -161 |
U.S. Federal research and development tax credit, Amount | -181 | ' | -69 |
U.S. tax effect of capital losses, Amount | ' | -392 | ' |
Foreign and other, Amount | -122 | -76 | -12 |
Provision for/(Benefit from) Income Taxes | 311 | -161 | 1,721 |
Tax benefit from finalizing prior year U.S. income tax return | ' | 54 | ' |
Retroactive reinstatement of the 2012 research and development tax credit recognized in 2013 | $82 | ' | ' |
Effective Income Tax Rate Reconciliation, Percent [Abstract] | ' | ' | ' |
U.S. statutory income tax rate | 35.00% | 35.00% | 35.00% |
Non-tax deductible annual pharmaceutical company fee, Rate | 2.20% | 3.80% | 1.20% |
Foreign tax effect of certain operations in Ireland, Puerto Rico and Switzerland, Rate | -21.40% | -29.40% | -8.50% |
State and local taxes (net of valuation allowance), Rate | 0.90% | 0.90% | 0.50% |
U.S. Federal, state and foreign contingent tax matters, Rate | 4.60% | 2.80% | -2.30% |
U.S. Federal research and development tax credit, Rate | -6.30% | ' | -1.00% |
U.S. tax effect of capital losses, Rate | ' | -16.70% | ' |
Foreign and other, Rate | -4.20% | -3.30% | -0.20% |
Effective income tax/(benefit) rate | 10.80% | -6.90% | 24.70% |
INCOME_TAXES_Deferred_Taxes_an
INCOME TAXES (Deferred Taxes and Valuation Allowance) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Components of Deferred Tax Assets [Abstract] | ' | ' | ' |
Foreign net operating loss carryforwards | $3,892 | $3,722 | ' |
Milestones payments and license fees | 483 | 550 | ' |
Deferred income | 2,168 | 2,083 | ' |
U.S. capital losses | 784 | 794 | ' |
U.S. Federal net operating loss carryforwards | 138 | 170 | ' |
Pension and postretirement benefits | 120 | 693 | ' |
State net operating loss and credit carryforwards | 377 | 346 | ' |
Intercompany profit and other inventory items | 495 | 288 | ' |
U.S. Federal tax credit carryforwards | 23 | 31 | ' |
Other foreign deferred tax assets | 187 | 197 | ' |
Share-based compensation | 107 | 111 | ' |
Legal settlements | 20 | 45 | ' |
Repatriation of foreign earnings | 49 | 86 | ' |
Internal transfer of intellectual property | 223 | ' | ' |
Other | 357 | 344 | ' |
Total deferred tax assets | 9,423 | 9,460 | ' |
Total deferred tax assets, net | 4,800 | 5,056 | ' |
Components of Deferred Tax Liabilities [Abstract] | ' | ' | ' |
Depreciation | -148 | -147 | ' |
Acquired intangible assets | -2,567 | -2,768 | ' |
Other | -780 | -734 | ' |
Total deferred tax liabilities | -3,495 | -3,649 | ' |
Deferred tax assets, net | 1,305 | 1,407 | ' |
Deferred Tax Assets, Net, Classification [Abstract] | ' | ' | ' |
Assets held-for-sale | 125 | ' | ' |
Deferred income taxes, current | 1,701 | 1,597 | ' |
Deferred income taxes, noncurrent | 508 | 203 | ' |
U.S. foreign income taxes payable, current | -10 | -10 | ' |
Liabilities related to assets held-for-sale | -946 | ' | ' |
Deferred income taxes - noncurrent | -73 | -383 | ' |
Total | 1,305 | 1,407 | ' |
Valuation Allowance [Line Items] | ' | ' | ' |
Valuation allowance | -4,623 | -4,404 | ' |
Valuation Allowance of Deferred Tax Assets [Member] | ' | ' | ' |
Movement in Valuation Allowances and Reserves [Roll Forward] | ' | ' | ' |
Balance at beginning of year | 4,404 | 3,920 | 1,863 |
Provision | 252 | 494 | 2,410 |
Utilization | -68 | -145 | -135 |
Foreign currency translation | 40 | 39 | -222 |
Acquisitions | -5 | 96 | 4 |
Balance at end of year | 4,623 | 4,404 | 3,920 |
Foreign Net Operating Loss And Tax Credit Carryforwards [Member] | ' | ' | ' |
Valuation Allowance [Line Items] | ' | ' | ' |
Valuation allowance | -3,849 | ' | ' |
State Net Operating Loss And Tax Credit Carryforwards [Member] | ' | ' | ' |
Valuation Allowance [Line Items] | ' | ' | ' |
Valuation allowance | -378 | ' | ' |
US Federal Net Operating Loss Carryforwards [Member] | ' | ' | ' |
Valuation Allowance [Line Items] | ' | ' | ' |
Valuation allowance | -13 | ' | ' |
Capital Loss Carryforward [Member] | ' | ' | ' |
Valuation Allowance [Line Items] | ' | ' | ' |
Valuation allowance | ($383) | ' | ' |
INCOME_TAXES_INCOME_TAXES_Narr
INCOME TAXES INCOME TAXES (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Operating Loss Carryforwards [Line Items] | ' | ' | ' |
Income tax payments | $478,000,000 | $676,000,000 | $597,000,000 |
Current tax benefit realized as a result of stock related compensation credited to capital in excess of par value of stock | 129,000,000 | 71,000,000 | 47,000,000 |
Undistributed earnings of foreign subsidiaries indefinitely invested offshore | 24,000,000,000 | ' | ' |
Domestic Tax Authority [Member] | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' |
Net operating loss carryforwards | 396,000,000 | ' | ' |
Capital Loss Carryforward [Member] | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' |
Net operating loss carryforwards | $2,196,000,000 | ' | ' |
INCOME_TAXES_Unrecognized_Tax_
INCOME TAXES (Unrecognized Tax Benefits) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ' | ' | ' |
Balance at beginning of year | $642 | $628 | $845 |
Gross additions to tax positions related to current year | 74 | 46 | 44 |
Gross additions to tax positions related to prior years | 108 | 66 | 105 |
Gross additions to tax positions assumed in acquisitions | ' | 31 | 1 |
Gross reductions to tax positions related to prior years | -87 | -57 | -325 |
Settlements | 26 | -54 | -30 |
Reductions to tax positions related to lapse of statute | -8 | -19 | -7 |
Cumulative translation adjustment | 1 | 1 | ' |
Cumulative translation adjustment | ' | ' | -5 |
Balance at end of year | 756 | 642 | 628 |
Unrecognized tax benefits that would impact effective tax rate | 508 | 633 | 570 |
Minimum estimated decrease in total amount of unrecognized tax benefits | 350 | ' | ' |
Maximum estimated decrease in total amount of unrecognized tax benefits | 400 | ' | ' |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued [Abstract] | ' | ' | ' |
Accrued interest | 83 | 59 | 51 |
Accrued penalties | 34 | 32 | 25 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense [Abstract] | ' | ' | ' |
Interest expense | 24 | 14 | 10 |
Penalty expense | $3 | $16 | $7 |
EARNINGS_PER_SHARE_Details
EARNINGS PER SHARE (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Earnings Per Share [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Earnings Attributable to BMS | $726 | $692 | $536 | $609 | $925 | ($711) | $645 | $1,101 | $2,563 | $1,960 | $3,709 |
Earnings attributable to unvested restricted shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1 | -8 |
Net Earnings Attributable to BMS common shareholders | ' | ' | ' | ' | ' | ' | ' | ' | $2,563 | $1,959 | $3,701 |
Earnings/(Loss) per Share - Basic | $0.44 | $0.42 | $0.33 | $0.37 | $0.56 | ($0.43) | $0.38 | $0.65 | $1.56 | $1.17 | $2.18 |
Weighted-average common shares outstanding - basic | ' | ' | ' | ' | ' | ' | ' | ' | 1,644 | 1,670 | 1,700 |
Contingently convertible debt common stock equivalents | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 1 | 1 |
Incremental shares attributable to share-based compensation plans | ' | ' | ' | ' | ' | ' | ' | ' | 17 | 17 | 16 |
Weighted-average common shares outstanding - diluted | ' | ' | ' | ' | ' | ' | ' | ' | 1,662 | 1,688 | 1,717 |
Earnings/(Loss) per Share - Diluted | $0.44 | $0.42 | $0.32 | $0.37 | $0.56 | ($0.43) | $0.38 | $0.64 | $1.54 | $1.16 | $2.16 |
Anti-dilutive weighted-average equivalent shares - stock incentive plans | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | 13 |
FINANCIAL_INSTRUMENTS_AND_FAIR2
FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Fair Value Measurements) (Details) (USD $) | 12 Months Ended | |||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 |
Marketable Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Cash Equivalents, Fair Value | $3,201 | $1,288 | ' | ' | ' | ' | ' | ' |
Marketable securities, Fair value | 4,566 | 4,592 | ' | ' | ' | ' | ' | ' |
Marketable securities, Fair value | 4,686 | 4,696 | 4,574 | 4,201 | 4,420 | 5,125 | 5,968 | 6,307 |
Accrued expenses | 2,152 | 2,573 | ' | ' | ' | ' | ' | ' |
Other liabilities | 625 | 475 | ' | ' | ' | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value at January 1, Asset | 536 | 566 | ' | ' | ' | ' | ' | ' |
Additions from new collaboration | -26 | -48 | ' | ' | ' | ' | ' | ' |
Unrealized gains | 40 | -49 | ' | ' | ' | ' | ' | ' |
Sales | -24 | -25 | ' | ' | ' | ' | ' | ' |
Fair value at December 31, Asset | 511 | 536 | ' | ' | ' | ' | ' | ' |
Certificates of Deposit [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable securities, Fair value | 122 | 34 | ' | ' | ' | ' | ' | ' |
Corporate Debt Securities [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable securities, Fair value | 4,432 | 4,377 | ' | ' | ' | ' | ' | ' |
U.S. Treasury Bills [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable securities, Fair value | ' | 150 | ' | ' | ' | ' | ' | ' |
Equity Funds [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable securities, Fair value | 74 | 57 | ' | ' | ' | ' | ' | ' |
Fixed Income Funds [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable securities, Fair value | 46 | 47 | ' | ' | ' | ' | ' | ' |
Auction Rate Securities [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable securities, Fair value | 12 | ' | ' | ' | ' | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' |
Unrealized gains | 1 | ' | ' | ' | ' | ' | ' | ' |
Auction Rate Securities And Floating Rate Securities [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable securities, Fair value | ' | 31 | ' | ' | ' | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value at January 1, Asset | 31 | 110 | ' | ' | ' | ' | ' | ' |
Unrealized gains | ' | 2 | ' | ' | ' | ' | ' | ' |
Sales | -20 | -81 | ' | ' | ' | ' | ' | ' |
Fair value at December 31, Asset | 12 | 31 | ' | ' | ' | ' | ' | ' |
Interest Rate Swap [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Total derivatives at fair value, assets | 64 | 146 | ' | ' | ' | ' | ' | ' |
Total derivatives at fair value, liabilities | -27 | ' | ' | ' | ' | ' | ' | ' |
Foreign Exchange Forward [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Total derivatives at fair value, assets | 50 | 59 | ' | ' | ' | ' | ' | ' |
Total derivatives at fair value, liabilities | -35 | -30 | ' | ' | ' | ' | ' | ' |
Written Option Liability [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Total derivatives at fair value, liabilities | -162 | -18 | ' | ' | ' | ' | ' | ' |
Accrued expenses | 18 | ' | ' | ' | ' | ' | ' | ' |
Other liabilities | 144 | ' | ' | ' | ' | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value at January 1, Liability | -18 | ' | ' | ' | ' | ' | ' | ' |
Additions from new collaboration | -144 | -18 | ' | ' | ' | ' | ' | ' |
Fair value at December 31, Liability | -162 | -18 | ' | ' | ' | ' | ' | ' |
Contingent Consideration Liability [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Total derivatives at fair value, liabilities | -8 | -8 | ' | ' | ' | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value at December 31, Liability | -8 | -8 | ' | ' | ' | ' | ' | ' |
Fair Value Level 1 [Member] | U.S. Treasury Bills [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable securities, Fair value | ' | 150 | ' | ' | ' | ' | ' | ' |
Fair Value Level 2 [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Cash Equivalents, Fair Value | 3,201 | 1,288 | ' | ' | ' | ' | ' | ' |
Fair Value Level 2 [Member] | Certificates of Deposit [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable securities, Fair value | 122 | 34 | ' | ' | ' | ' | ' | ' |
Fair Value Level 2 [Member] | Corporate Debt Securities [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable securities, Fair value | 4,432 | 4,377 | ' | ' | ' | ' | ' | ' |
Fair Value Level 2 [Member] | Equity Funds [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable securities, Fair value | 74 | 57 | ' | ' | ' | ' | ' | ' |
Fair Value Level 2 [Member] | Fixed Income Funds [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable securities, Fair value | 46 | 47 | ' | ' | ' | ' | ' | ' |
Fair Value Level 2 [Member] | Interest Rate Swap [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Total derivatives at fair value, assets | 64 | 146 | ' | ' | ' | ' | ' | ' |
Total derivatives at fair value, liabilities | -27 | ' | ' | ' | ' | ' | ' | ' |
Fair Value Level 2 [Member] | Foreign Exchange Forward [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Total derivatives at fair value, assets | 50 | 59 | ' | ' | ' | ' | ' | ' |
Total derivatives at fair value, liabilities | -35 | -30 | ' | ' | ' | ' | ' | ' |
Fair Value Level 3 [Member] | Auction Rate Securities [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable securities, Fair value | 12 | ' | ' | ' | ' | ' | ' | ' |
Fair Value Level 3 [Member] | Auction Rate Securities And Floating Rate Securities [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable securities, Fair value | ' | 31 | ' | ' | ' | ' | ' | ' |
Fair Value Level 3 [Member] | Written Option Liability [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Total derivatives at fair value, liabilities | -162 | -18 | ' | ' | ' | ' | ' | ' |
Fair Value Level 3 [Member] | Contingent Consideration Liability [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Total derivatives at fair value, liabilities | ($8) | ($8) | ' | ' | ' | ' | ' | ' |
FINANCIAL_INSTRUMENTS_AND_FAIR3
FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Available for Sale) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Marketable securities, current | $939 | $1,173 |
Marketable securities, noncurrent | 3,747 | 3,523 |
Marketable Securities, Amortized Cost | 4,532 | 4,518 |
Marketable Securities, Unrealized Gain in Accumulated OCI | 47 | 75 |
Marketable Securities, Gross Unrealized Loss in Accumulated OCI | -13 | -1 |
Available-for-sale Securities | 4,566 | 4,592 |
Available For Sale Securities - Marketable Securities | 819 | ' |
Certificates of Deposit [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Marketable Securities, Amortized Cost | 122 | 34 |
Available-for-sale Securities | 122 | 34 |
Corporate Debt Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Marketable Securities, Amortized Cost | 4,401 | 4,305 |
Marketable Securities, Unrealized Gain in Accumulated OCI | 44 | 72 |
Marketable Securities, Gross Unrealized Loss in Accumulated OCI | -13 | ' |
Available-for-sale Securities | 4,432 | 4,377 |
U.S. Treasury Bills [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Marketable Securities, Amortized Cost | ' | 150 |
Available-for-sale Securities | ' | 150 |
Auction Rate Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Marketable Securities, Amortized Cost | 9 | ' |
Available-for-sale Securities | 12 | ' |
Available For Sale Securities Maturities After Ten Years, Fair Value | 12 | ' |
Auction Rate Securities And Floating Rate Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Marketable Securities, Amortized Cost | ' | 29 |
Marketable Securities, Unrealized Gain in Accumulated OCI | 3 | 3 |
Marketable Securities, Gross Unrealized Loss in Accumulated OCI | ' | -1 |
Available-for-sale Securities | ' | 31 |
Noncurrent Marketable Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available For Sale Securities Maturities After One Through Five Years, Fair Value | 3,735 | ' |
Equity Funds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other Marketable Securities, Current | 74 | 57 |
Fixed Income Investments [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other Marketable Securities, Current | 46 | 47 |
Equity Funds and Fixed Income Investments [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
The change in the fair value for the investments in equity and fixed income funds | $14 | $5 |
FINANCIAL_INSTRUMENTS_AND_FAIR4
FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Derivatives and Hedging) (Details) | 12 Months Ended | ||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
USD ($) | EUR (€) | USD ($) | EUR (€) | Euro [Member] | Japanese Yen [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Foreign Exchange Forward [Member] | Foreign Exchange Forward [Member] | Foreign Exchange Forward [Member] | Foreign Exchange Forward [Member] | Foreign Exchange Forward [Member] | Foreign Exchange Forward [Member] | Foreign Exchange Forward [Member] | Foreign Exchange Forward [Member] | Foreign Exchange Forward [Member] | |
USD ($) | USD ($) | USD ($) | USD ($) | Fair Value Level 2 [Member] | Fair Value Level 2 [Member] | Designated As Hedging Instrument [Member] | Designated As Hedging Instrument [Member] | Designated As Hedging Instrument [Member] | Designated As Hedging Instrument [Member] | USD ($) | USD ($) | Fair Value Level 2 [Member] | Fair Value Level 2 [Member] | Designated As Hedging Instrument [Member] | Designated As Hedging Instrument [Member] | Designated As Hedging Instrument [Member] | Designated As Hedging Instrument [Member] | Designated As Hedging Instrument [Member] | |||||
USD ($) | USD ($) | Other assets [Member] | Other assets [Member] | Other Noncurrent Liabilities [Member] | Prepaid Expenses and Other Current Assets [Member] | USD ($) | USD ($) | Other assets [Member] | Other assets [Member] | Accrued expenses [Member] | Accrued expenses [Member] | Other Noncurrent Liabilities [Member] | |||||||||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | |||||||||||||||
Derivatives and Hedging [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notional amount of derivatives | ' | ' | ' | ' | ' | $247,000,000 | $2,050,000,000 | ' | ' | ' | $673,000,000 | $573,000,000 | $1,950,000,000 | $301,000,000 | ' | ' | ' | ' | $100,000,000 | $735,000,000 | $704,000,000 | $916,000,000 | $263,000,000 |
Total derivatives at fair value, assets | ' | ' | ' | ' | ' | ' | 64,000,000 | 146,000,000 | 64,000,000 | 146,000,000 | 64,000,000 | 146,000,000 | ' | 44,000,000 | 50,000,000 | 59,000,000 | 50,000,000 | 59,000,000 | 6,000,000 | 59,000,000 | ' | ' | ' |
Total derivatives at fair value, liabilities | ' | ' | ' | ' | ' | ' | -27,000,000 | ' | -27,000,000 | ' | ' | ' | -27,000,000 | ' | -35,000,000 | -30,000,000 | -35,000,000 | -30,000,000 | ' | ' | -31,000,000 | -30,000,000 | -4,000,000 |
Period of reclassification to earnings, cash flow hedges | 2 | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign currency forward contract cash flow hedges, net deferred gains to be reclassified during next 12 months | 14,000,000 | ' | ' | ' | 780,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
The period, in days, after a forecasted transaction after which cash flow hedge accounting is discontinued | 60 | 60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notional amount of nonderivative non-U.S. dollar borrowings designated as net investment hedges | 741,000,000 | 541,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
LIBOR | 0.17% | 0.17% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Variable rate debt, Lower range of basis point spread | -0.80% | -0.80% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Variable rate debt, Higher range of basis point spread | 4.40% | 4.40% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Terminated interest rate swaps, Notional amount | ' | ' | 1,600,000,000 | 1,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Terminated interest rate swaps, Total proceeds including accrued interest | ' | ' | 356,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Terminated interest rate swaps, Accrued interest | ' | ' | $66,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
FINANCIAL_INSTRUMENTS_AND_FAIR5
FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Debt Obligations) (Details) (USD $) | 12 Months Ended | ||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | |
Extinguishment of Debt Disclosures [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Extinguishment of Debt, Principal Value | ' | $2,052,000,000 | $71,000,000 | ' | ' | ' | ' | ' | ' |
Extinguishment of Debt, Carrying Value | ' | 2,081,000,000 | 88,000,000 | ' | ' | ' | ' | ' | ' |
Extinguishment of Debt, Repurchase Price | ' | 2,108,000,000 | 78,000,000 | ' | ' | ' | ' | ' | ' |
Extinguishment of Debt, Notional amount of interest rate swaps terminated | ' | 6,000,000 | 34,000,000 | ' | ' | ' | ' | ' | ' |
Extinguishment of Debt, Swap Termination Proceeds | ' | 2,000,000 | 6,000,000 | ' | ' | ' | ' | ' | ' |
Extinguishment Of Debt, Total loss/(gain) | ' | 27,000,000 | -10,000,000 | ' | ' | ' | ' | ' | ' |
Short-term Debt [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Bank drafts | 359,000,000 | 162,000,000 | ' | ' | ' | ' | ' | ' | ' |
Current portion of long-term debt | ' | 664,000,000 | ' | ' | ' | ' | ' | ' | ' |
Total | 359,000,000 | 826,000,000 | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal value | 7,593,000,000 | 6,631,000,000 | ' | ' | ' | ' | ' | ' | ' |
Adjustments to Principal Value, Fair value of interest rate swaps | 37,000,000 | 146,000,000 | ' | ' | ' | ' | ' | ' | ' |
Adjustments to Principal Value, Unamortized basis adjustment from swap terminations | 442,000,000 | 509,000,000 | ' | ' | ' | ' | ' | ' | ' |
Adjustments to Principal Value, Unamortized bond discounts | -64,000,000 | -54,000,000 | ' | ' | ' | ' | ' | ' | ' |
Long-term debt | 7,981,000,000 | 6,568,000,000 | ' | ' | ' | ' | ' | ' | ' |
Long-term debt Total | 8,008,000,000 | 7,232,000,000 | ' | ' | ' | ' | ' | ' | ' |
Current portion of long-term debt | 27,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Unsecured Debt | 1,500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Total | 7,981,000,000 | 7,232,000,000 | ' | 6,562,000,000 | 7,122,000,000 | 7,180,000,000 | 7,227,000,000 | 5,209,000,000 | 5,270,000,000 |
The average amount of commercial paper outstanding | 259,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
The weighted average interest rate of commercial paper | 0.12% | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum month end amount of commercial paper borrowings outstanding | 820,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Repayments of long-term debt | 597,000,000 | 2,108,000,000 | 78,000,000 | ' | ' | ' | ' | ' | ' |
Principal value of debt maturing in 2014 | 27,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Principal value of debt maturing in 2016 | 684,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Principal value of debt maturing in 2017 | 750,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Principal value of debt maturing in 2018 | 631,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Principal value of debt maturing in 2019 and after | 5,501,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from issuance of long-term debt | 1,489,000,000 | 1,950,000,000 | ' | ' | ' | ' | ' | ' | ' |
Long-term debt, Fair value | 8,487,000,000 | 8,285,000,000 | ' | ' | ' | ' | ' | ' | ' |
Interest payments | 268,000,000 | 241,000,000 | 171,000,000 | ' | ' | ' | ' | ' | ' |
Financial guarantees in the form of stand-by letters of credit and perfomance bonds | 633,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Notes Due 2013 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal value | ' | 597,000,000 | ' | ' | ' | ' | ' | ' | ' |
Repayments of long-term debt | 597,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Euro Notes Due 2016 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal value | 684,000,000 | 659,000,000 | ' | ' | ' | ' | ' | ' | ' |
Notes Due 2017 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal value | 750,000,000 | 750,000,000 | ' | ' | ' | ' | ' | ' | ' |
Notes Due 2018 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal value | 582,000,000 | 582,000,000 | ' | ' | ' | ' | ' | ' | ' |
Notes Due 2019 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal value | 500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Unsecured Debt | 500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Euro Notes Due 2021 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal value | 684,000,000 | 659,000,000 | ' | ' | ' | ' | ' | ' | ' |
Notes Due 2022 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal value | 750,000,000 | 750,000,000 | ' | ' | ' | ' | ' | ' | ' |
Debentures Due 2023 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal value | 304,000,000 | 304,000,000 | ' | ' | ' | ' | ' | ' | ' |
Notes Due 2023 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal value | 500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Unsecured Debt | 500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Debentures Due 2026 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal value | 330,000,000 | 330,000,000 | ' | ' | ' | ' | ' | ' | ' |
Notes Due 2036 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal value | 625,000,000 | 625,000,000 | ' | ' | ' | ' | ' | ' | ' |
Notes Due 2038 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal value | 480,000,000 | 480,000,000 | ' | ' | ' | ' | ' | ' | ' |
Notes Due 2042 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal value | 500,000,000 | 500,000,000 | ' | ' | ' | ' | ' | ' | ' |
Notes Due 2044 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal value | 500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Unsecured Debt | 500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Debentures Due 2097 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal value | 260,000,000 | 260,000,000 | ' | ' | ' | ' | ' | ' | ' |
Other Debt Maturing 2013 To 2030 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal value | 144,000,000 | 135,000,000 | ' | ' | ' | ' | ' | ' | ' |
Floating Rate Convertible Senior Debentures Due 2023 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal value | 49,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Floating Rate Convertible Senior Debentures due 2023, Conversion price | $39.58 | ' | ' | ' | ' | ' | ' | ' | ' |
Floating Rate Convertible Senior Debentures due 2023, Conversion ratio in shares | 25.2623 | ' | ' | ' | ' | ' | ' | ' | ' |
Floating Rate Convertible Senior Debentures due 2023, Principal amount to be converted | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Amylin Acquisition [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal value | ' | 2,000,000,000 | ' | ' | ' | ' | ' | ' | ' |
Adjustments to Principal Value, Unamortized bond discounts | ' | 36,000,000 | ' | ' | ' | ' | ' | ' | ' |
Proceeds from issuance of long-term debt | ' | 1,950,000,000 | ' | ' | ' | ' | ' | ' | ' |
Deferred loan issuance costs | ' | 14,000,000 | ' | ' | ' | ' | ' | ' | ' |
Notes Due 2019 Notes Due 2023 And Notes Due 2044 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Adjustments to Principal Value, Unamortized bond discounts | 12,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from issuance of long-term debt | 1,477,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred loan issuance costs | 11,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Revolving Credit Facility [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Revolving Credit Facilities | 2 | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | $1,500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
RECEIVABLES_Details
RECEIVABLES (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accounts Receivable, Net [Abstract] | ' | ' | ' |
Trade receivables | $1,779 | $1,812 | ' |
Less allowances | -89 | -104 | ' |
Net trade receivables | 1,690 | 1,708 | ' |
Alliance partner receivables | 1,122 | 857 | ' |
Prepaid and refundable income taxes | 262 | 319 | ' |
Miscellaneous receivables | 286 | 199 | ' |
Receivables | 3,360 | 3,083 | ' |
Receivables sold on a nonrecourse basis | 1,031 | 956 | 1,077 |
The number of the largest pharmaceutical wholesalers in the U.S. | 3 | ' | ' |
Percentage of aggregate total trade receivables due from three pharmaceutical wholesalers | 40.00% | 37.00% | ' |
Allowance for Trade Receivables [Member] | ' | ' | ' |
Movement in Valuation Allowances and Reserves [Roll Forward] | ' | ' | ' |
Balance at beginning of year | 104 | 147 | 107 |
Provision | 720 | 832 | 1,094 |
Utilization | -731 | -875 | -1,054 |
Assets held-for-sale | -4 | ' | ' |
Balance at end of year | $89 | $104 | $147 |
INVENTORIES_Details
INVENTORIES (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Inventory, Net [Abstract] | ' | ' |
Finished goods | $491 | $572 |
Work in process | 757 | 814 |
Raw and packaging materials | 250 | 271 |
Inventories | 1,498 | 1,657 |
Inventories expected to remain on-hand beyond one year | $351 | $424 |
PROPERTY_PLANT_AND_EQUIPMENT_D
PROPERTY, PLANT AND EQUIPMENT (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Gross property, plant and equipment | $8,843 | $9,383 | ' |
Less accumulated depreciation | -4,264 | -4,050 | ' |
Property, Plant and Equipment | 4,579 | 5,333 | ' |
Depreciation expense | 453 | 382 | 448 |
Carrying value of Mount Vernon, Indiana manufacturing facility expected to be sold no earlier than 18 months following the closing of the diabetes business transaction | 300 | ' | ' |
Period after which the diabetes business transaction closes that the Mount Vernon, Indiana manufacturing facility is expected to be sold | '1 year 6 months 0 days | ' | ' |
Land [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Gross property, plant and equipment | 109 | 114 | ' |
Buildings [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Gross property, plant and equipment | 4,748 | 4,963 | ' |
Machinery equipment and fixtures [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Gross property, plant and equipment | 3,699 | 3,695 | ' |
Construction in Progress [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Gross property, plant and equipment | $287 | $611 | ' |
GOODWILL_AND_OTHER_INTANGIBLE_2
GOODWILL AND OTHER INTANGIBLE ASSETS (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ' | ' |
Total other intangible assets - Gross Carrying Amount | $5,436 | $11,855 | ' |
Total other intangible assets - Accumulated Amortization | 3,118 | 3,077 | ' |
Total other intangible assets - Net Carrying Amount | 2,318 | 8,778 | ' |
Impairment charge for BMS-986094 intangible asset | ' | 1,830 | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill, Beginning Balance | 7,635 | 5,586 | ' |
Assets held-for-sale | -550 | ' | ' |
Goodwill, Ending Balance | 7,096 | 7,635 | 5,586 |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite-Lived Intangible Assets, Gross Carrying Amount | 4,888 | 11,187 | ' |
Finite-Lived Intangible Assets, Accumulated Amortization | 3,118 | 3,077 | ' |
Finite-Lived Intangible Assets, Net Carrying Amount | 1,770 | 8,110 | ' |
Impairment charge related to a partial write-down to fair value of developed technology costs related to a non-key product | ' | 38 | ' |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | ' | ' | ' |
Estimated future amortization, 2014 | 300 | ' | ' |
Estimated future amortization, 2015 | 200 | ' | ' |
Estimated future amortization, 2016 | 200 | ' | ' |
Estimated future amortization, 2017 | 200 | ' | ' |
Estimated future amortization, 2018 | 150 | ' | ' |
Estimated future amortization, After 2018 | 720 | ' | ' |
Intangible Assets, Net (Excluding Goodwill) [Abstract] | ' | ' | ' |
Other intangible assets carrying amount at January 1 | 8,778 | 3,124 | 3,370 |
Capitalized software and other additions | 80 | 60 | 75 |
Acquisitions | ' | 8,335 | 160 |
Amortization expense | -858 | -607 | -353 |
Impairment charges | ' | -2,134 | -30 |
Assets held-for-sale | -5,682 | ' | ' |
Other | ' | ' | -98 |
Other intangible assets carrying amount at December 31 | 2,318 | 8,778 | 3,124 |
Developed technology rights related to the sale of the diabetes business reclassified to assets held-for-sale | 5,562 | ' | ' |
In-process research and development related to the sale of the diabetes business reclassified to assets held-for-sale | 120 | ' | ' |
In Process Research And Development [Member] | ' | ' | ' |
Acquired Indefinite-lived Intangible Assets [Line Items] | ' | ' | ' |
Acquired Indefinite-lived Intangible Asset, Carrying Amount | 548 | 668 | ' |
Licenses [Member] | ' | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite-Lived Intangible Assets, Gross Carrying Amount | 1,162 | 1,160 | ' |
Finite-Lived Intangible Assets, Accumulated Amortization | 637 | 534 | ' |
Finite-Lived Intangible Assets, Net Carrying Amount | 525 | 626 | ' |
Licenses [Member] | Minimum [Member] | ' | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Useful life of intangible asset | '5 years 0 months 0 days | ' | ' |
Licenses [Member] | Maximum [Member] | ' | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Useful life of intangible asset | '15 years 0 months 0 days | ' | ' |
Technology [Member] | ' | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite-Lived Intangible Assets, Gross Carrying Amount | 2,486 | 8,827 | ' |
Finite-Lived Intangible Assets, Accumulated Amortization | 1,482 | 1,604 | ' |
Finite-Lived Intangible Assets, Net Carrying Amount | 1,004 | 7,223 | ' |
Impairment charge related to a partial write-down to fair value of developed technology costs related to a non-key product | ' | 120 | ' |
Technology [Member] | Minimum [Member] | ' | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Useful life of intangible asset | '9 years 0 months 0 days | ' | ' |
Technology [Member] | Maximum [Member] | ' | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Useful life of intangible asset | '15 years 0 months 0 days | ' | ' |
Capitalized Software [Member] | ' | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite-Lived Intangible Assets, Gross Carrying Amount | 1,240 | 1,200 | ' |
Finite-Lived Intangible Assets, Accumulated Amortization | 999 | 939 | ' |
Finite-Lived Intangible Assets, Net Carrying Amount | 241 | 261 | ' |
Capitalized Software [Member] | Minimum [Member] | ' | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Useful life of intangible asset | '3 years 0 months 0 days | ' | ' |
Capitalized Software [Member] | Maximum [Member] | ' | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Useful life of intangible asset | '10 years 0 months 0 days | ' | ' |
Amylin Pharmaceuticals, Inc. [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Acquisition | ' | 836 | ' |
Adjustment to goodwill from finalization of Amylin acquisition purchase price allocation | 11 | ' | ' |
Inhibitex, Inc. [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Acquisition | ' | $1,213 | ' |
ACCRUED_EXPENSES_Details
ACCRUED EXPENSES (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Accrued Liabilities, Current [Abstract] | ' | ' |
Employee compensation and benefits | $735 | $844 |
Royalties | 173 | 152 |
Accrued research and development | 380 | 418 |
Restructuring - current | 73 | 120 |
Pension and postretirement benefits | 47 | 49 |
Accrued litigation | 65 | 162 |
Other | 679 | 828 |
Total accrued expenses | $2,152 | $2,573 |
SALES_REBATES_AND_RETURN_ACCRU2
SALES REBATES AND RETURN ACCRUALS (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Sales Rebates And Return Accruals [Abstract] | ' | ' |
Charge-backs related to government programs | $37 | $41 |
Cash discounts | 12 | 13 |
Reductions to trade receivables | 49 | 54 |
Managed healthcare rebates and other contract discounts | 147 | 175 |
Medicaid rebates | 227 | 351 |
Sales returns | 279 | 345 |
Other adjustments | 236 | 183 |
Accrued rebates and returns | $889 | $1,054 |
DEFERRED_INCOME_Details
DEFERRED INCOME (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Deferred Income [Abstract] | ' | ' | ' |
Upfront, milestone and other licensing receipts | $970 | $4,346 | ' |
Atripla deferred revenue | 468 | 339 | ' |
Gain on sale-leaseback transactions | 71 | 99 | ' |
Other | 16 | 65 | ' |
Total deferred income | 1,525 | 4,849 | ' |
Current portion | 756 | 825 | ' |
Non-current portion | 769 | 4,024 | ' |
Amortization of deferred income | 548 | 308 | 173 |
Deferred income included in liabilities related to assets held-for-sale | $3,671 | ' | ' |
EQUITY_Changes_in_Equity_Detai
EQUITY (Changes in Equity) (Details) (USD $) | 1 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||
Share data in Millions, unless otherwise specified | Jun. 30, 2012 | 31-May-10 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Treasury Stock [Member] | Treasury Stock [Member] | Treasury Stock [Member] | ||||||||||||||
Equity [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Shares Issued, Balance at January 1, | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,205 | 2,208 | 2,205 | ' | ' | ' |
Common Stock, Shares Issued, Balance at December 31, | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,208 | 2,208 | 2,205 | ' | ' | ' |
Common Stock, Value, Issued, Balance at January 1, | ' | ' | ' | ' | ' | $221,000,000 | ' | ' | ' | ' | $221,000,000 | ' | ' | $220,000,000 | $221,000,000 | $220,000,000 | ' | ' | ' |
Common Stock, Value, Issued, Balance at December 31, | ' | ' | 221,000,000 | ' | ' | ' | 221,000,000 | ' | ' | ' | 221,000,000 | 221,000,000 | ' | 221,000,000 | 221,000,000 | 220,000,000 | ' | ' | ' |
Capital in Excess of Par Value of Stock, Balance at January 1, | ' | ' | ' | ' | ' | 2,694,000,000 | ' | ' | ' | 3,114,000,000 | 2,694,000,000 | 3,114,000,000 | 3,682,000,000 | ' | ' | ' | ' | ' | ' |
Employee stock compensation plans, Capital in Excess of Par Value of Stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -772,000,000 | -420,000,000 | -568,000,000 | ' | ' | ' | ' | ' | ' |
Capital in Excess of Par Value of Stock, Balance at December 31, | ' | ' | 1,922,000,000 | ' | ' | ' | 2,694,000,000 | ' | ' | ' | 1,922,000,000 | 2,694,000,000 | 3,114,000,000 | ' | ' | ' | ' | ' | ' |
Retained Earnings, Balance at January 1, | ' | ' | ' | ' | ' | 32,733,000,000 | ' | ' | ' | 33,069,000,000 | 32,733,000,000 | 33,069,000,000 | 31,636,000,000 | ' | ' | ' | ' | ' | ' |
Net Earnings/(Loss) Attributable to BMS | ' | ' | 726,000,000 | 692,000,000 | 536,000,000 | 609,000,000 | 925,000,000 | -711,000,000 | 645,000,000 | 1,101,000,000 | 2,563,000,000 | 1,960,000,000 | 3,709,000,000 | ' | ' | ' | ' | ' | ' |
Cash dividends declared | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2,344,000,000 | -2,296,000,000 | -2,276,000,000 | ' | ' | ' | ' | ' | ' |
Retained Earnings, Balance at December 31, | ' | ' | 32,952,000,000 | ' | ' | ' | 32,733,000,000 | ' | ' | ' | 32,952,000,000 | 32,733,000,000 | 33,069,000,000 | ' | ' | ' | ' | ' | ' |
Treasury Stock, Shares, Balance at January 1, | ' | ' | ' | ' | ' | 570 | ' | ' | ' | 515 | 570 | 515 | 501 | ' | ' | ' | ' | ' | ' |
Stock repurchase program, Treasury Stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11 | 73 | 42 | ' | ' | ' | ' | ' | ' |
Employee stock compensation plans, Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3 | ' | ' | -22 | -18 | -28 |
Treasury Stock, Shares, Balance at December 31, | ' | ' | 559 | ' | ' | ' | 570 | ' | ' | ' | 559 | 570 | 515 | ' | ' | ' | ' | ' | ' |
Cost of Treasury Stock, Balance at January 1, | ' | ' | ' | ' | ' | -18,823,000,000 | ' | ' | ' | -17,402,000,000 | -18,823,000,000 | -17,402,000,000 | -17,454,000,000 | ' | ' | ' | ' | ' | ' |
Employee stock compensation plans, Cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | 1,436,000,000 | 986,000,000 | 1,278,000,000 |
Stock repurchase program, Cost of Treasury Stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -413,000,000 | -2,407,000,000 | -1,226,000,000 | ' | ' | ' | ' | ' | ' |
Cost of Treasury Stock, Balance at December 31, | ' | ' | -17,800,000,000 | ' | ' | ' | -18,823,000,000 | ' | ' | ' | -17,800,000,000 | -18,823,000,000 | -17,402,000,000 | ' | ' | ' | ' | ' | ' |
Noncontrolling interest, Balance at January 1, | ' | ' | ' | ' | ' | 15,000,000 | ' | ' | ' | -89,000,000 | 15,000,000 | -89,000,000 | -75,000,000 | ' | ' | ' | ' | ' | ' |
Net earnings attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 38,000,000 | 850,000,000 | 2,333,000,000 | ' | ' | ' | ' | ' | ' |
Other comprehensive income attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -6,000,000 | 7,000,000 | ' | ' | ' | ' | ' | ' |
Distributions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 29,000,000 | -740,000,000 | -2,354,000,000 | ' | ' | ' | ' | ' | ' |
Noncontrolling interest, Balance at December 31, | ' | ' | 82,000,000 | ' | ' | ' | 15,000,000 | ' | ' | ' | 82,000,000 | 15,000,000 | -89,000,000 | ' | ' | ' | ' | ' | ' |
The increase in authorization of common stock repurchases | ' | 3,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock repurchase program, Authorized amount | 3,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net earnings attributable to noncontrolling interest, tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $20,000,000 | $317,000,000 | $792,000,000 | ' | ' | ' | ' | ' | ' |
EQUITY_Accumulated_balances_re
EQUITY (Accumulated balances related to each component of other comprehensive income/(loss)) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Equity [Abstract] | ' | ' | ' |
Derivatives qualifying as cash flow hedges | $16 | $9 | ' |
Pension and other postretirement benefits | -1,857 | -3,023 | ' |
Available for sale securities | 28 | 65 | ' |
Foreign currency translation | -328 | -253 | ' |
Accumulated other comprehensive income/(loss) | -2,141 | -3,202 | ' |
Other Comprehensive Income (Loss), before Tax [Abstract] | ' | ' | ' |
Derivatives qualifying as cash flow hedges - Unrealized gains, Pre-tax | 58 | 26 | 28 |
Derivatives qualifying as cash flow hedges - Reclassified to net earnings, Pre-tax | -56 | -56 | 52 |
Derivatives qualifying as cash flow hedges, Pre-tax | 2 | -30 | 80 |
Pension and postretirement benefits - Actuarial gains/(losses), Pre-tax | 1,475 | -432 | -1,251 |
Pension and postretirement benefits - Amortization, Pre-tax | 129 | 133 | 115 |
Pension and postretirement benefits - Settlements and curtailments, Pre-Tax | 165 | 159 | 11 |
Pension and other postretirement benefits, Pre-tax | 1,769 | -140 | -1,125 |
Available for sale securities - Unrealized gains/(losses), Pre-tax | -35 | 20 | ' |
Available for sale securities - Realized gains, Pre-tax | -8 | -11 | ' |
Available for sale securities, Pre-tax | -43 | 9 | 35 |
Other Comprehensive Income/(Loss), Foreign Currency Transaction and Translation Gain (Loss), before Reclassification and Tax | -75 | -15 | -16 |
Other Comprehensive Income/(Loss), before Tax | 1,653 | -176 | -1,026 |
Other Comprehensive Income (Loss), Tax, Parenthetical Disclosures [Abstract] | ' | ' | ' |
Derivatives qualifying as cash flow hedges - Unrealized gains, tax | -17 | -17 | -4 |
Derivatives qualifying as cash flow hedges - Reclassified to net earnings, tax | 22 | 20 | -20 |
Derivatives qualifying as cash flow hedges, Tax | 5 | 3 | -24 |
Pension and other postretirement benefits - Actuarial gains/(losses), Tax | -504 | 121 | 421 |
Pension and other postretirement benefits - Amortization, Tax | -43 | -43 | -34 |
Pension and other postretirement benefits - Settlements and curtailments, Tax | -56 | -56 | -4 |
Pension and other postretirement benefits, Tax | -603 | 22 | 383 |
Available for sale securities - Unrealized gains/(losses), Tax | 3 | -8 | ' |
Available for sale securities - Realized gains, Tax | 3 | 2 | ' |
Available for sale securities, Tax | 6 | -6 | -7 |
Other comprehensive income/(loss), Tax | -592 | 19 | 352 |
Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | ' | ' |
Derivatives qualifying as cash flow hedges - Unrealized holding gains, After tax | 41 | 9 | 24 |
Derivatives qualifying as cash flow hedges - Reclassified to net earnings After tax | -34 | -36 | 32 |
Derivatives qualifying as cash flow hedges, After tax | 7 | -27 | 56 |
Pension and other postretirement benefits - Actuarial gains/(losses), After tax | 971 | -311 | -830 |
Pension and other postretirement benefits - Amortization, After tax | 86 | 90 | 81 |
Pension and other postretirement benefits - Settlements and curtailments | 109 | 103 | 7 |
Pension and other postretirement benefits, After tax | 1,166 | -118 | -742 |
Available for sale securities - Unrealized gains/(losses), After tax | -32 | 12 | 28 |
Available for sale securities - Realized gains, After tax | -5 | -9 | ' |
Available for sale securities, After tax | -37 | 3 | 28 |
Foreign currency translation | -75 | -15 | -16 |
Total Other Comprehensive Income/(Loss) | $1,061 | ($157) | ($674) |
PENSION_AND_POSTRETIREMENT_BEN2
PENSION AND POSTRETIREMENT BENEFIT PLANS (Net Periodic Benefit Cost) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' | ' |
Percentage of plan assets attributable to the principal defined benefit pension plan | 71.00% | ' | ' |
Percentage of plan obligations attributable to the principal defined benefit pension plan | 64.00% | ' | ' |
Net actuarial loss and prior service cost expected to be amortized from accumulated other comprehensive income into net periodic benefit cost during 2014 | $100 | ' | ' |
Defined contribution plan expense | 190 | 190 | 181 |
Postemployment benefits liabilities for long-term disability benefits | 63 | 90 | ' |
Expense/(credit) related to long-term disability benefits | -8 | 17 | 18 |
Termination indemnity plan obligations | 23 | 29 | ' |
Pension Plans, Defined Benefit [Member] | ' | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' | ' |
Service cost - benefits earned during the year | 38 | 32 | 43 |
Interest cost on projected benefit obligation | 302 | 319 | 337 |
Expected return on plan assets | -519 | -508 | -464 |
Amortization of prior service cost/(benefit) | -4 | -3 | -1 |
Amortization of net actuarial loss | 134 | 129 | 112 |
Curtailments | ' | -1 | -3 |
Settlements | 165 | 160 | 15 |
Total net periodic benefit (credit)/cost | 116 | 128 | 39 |
Expected contributions to pension plans | 100 | ' | ' |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' | ' |
Service cost - benefits earned during the year | 8 | 8 | 8 |
Interest cost on projected benefit obligation | 13 | 22 | 26 |
Expected return on plan assets | -26 | -25 | -26 |
Amortization of prior service cost/(benefit) | -2 | -2 | -3 |
Amortization of net actuarial loss | 1 | 10 | 7 |
Curtailments | ' | ' | -1 |
Total net periodic benefit (credit)/cost | -6 | 13 | 11 |
United States Pension Plans | ' | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' | ' |
Expected weighted-average remaining lives of plan participants, which is the period over which actuarial gain/loss is amortized | '28 years | ' | ' |
Pension contributions | 184 | 335 | 343 |
International Pension Plans | ' | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' | ' |
Pension contributions | $67 | $61 | $88 |
PENSION_AND_POSTRETIREMENT_BEN3
PENSION AND POSTRETIREMENT BENEFIT PLANS (Changes in Defined Benefit and Postretirement Benefit Plan Assets and Obligations) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Benefit Plan, Change in Fair Value of Plan Assets | ' | ' | ' |
Fair value of plan assets at end of year | $7,753 | $6,853 | ' |
Accrued expenses | -47 | -49 | ' |
Pension, postretirement, and postemployment liabilities | -718 | -1,882 | ' |
Accumulated benefit obligation | 7,125 | 8,068 | ' |
Defined Benefit Plan, Plans with Benefit Obligations in Excess of Plan Assets [Abstract] | ' | ' | ' |
Pension plans with projected benefit obligations in excess of plan assets, Projected benefit obligation | 1,291 | 8,112 | ' |
Pension plans with projected benefit obligations in excess of plan assets, Fair value of plan assets | 732 | 6,432 | ' |
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets [Abstract] | ' | ' | ' |
Pension plans with accumulated benefit obligations in excess of plan assets, Accumulated benefit obligation | 1,101 | 7,987 | ' |
Pension plans with accumulated benefit obligations in excess of plan assets, Fair value of plan assets | 608 | 6,432 | ' |
Pension Plans, Defined Benefit [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Benefit Obligation | ' | ' | ' |
Benefit obligations at the beginning of year | 8,200 | 7,499 | ' |
Service cost - benefits earned during the year | 38 | 32 | 43 |
Interest cost on projected benefit obligation | 302 | 319 | 337 |
Plan participants' contributions | 2 | 2 | ' |
Curtailments | ' | -19 | ' |
Settlements | -350 | -260 | ' |
Plan amendments | -1 | -8 | ' |
Actuarial losses/(gains) | -761 | 838 | ' |
Benefits paid | -206 | -227 | ' |
Exchange rate losses | -9 | 24 | ' |
Benefit obligations at the end of the year | 7,233 | 8,200 | 7,499 |
Defined Benefit Plan, Change in Fair Value of Plan Assets | ' | ' | ' |
Fair value of plan assets at beginning of year | 6,542 | 5,842 | ' |
Actual return on plan assets | 1,154 | 761 | ' |
Employer contributions | 251 | 396 | ' |
Plan participants' contributions | 2 | 2 | ' |
Settlements | -350 | -260 | ' |
Benefits paid | -206 | -227 | ' |
Exchange rate gains | 13 | 28 | ' |
Fair value of plan assets at end of year | 7,406 | 6,542 | 5,842 |
Funded Status | 173 | -1,658 | ' |
Other assets | 731 | 22 | ' |
Accrued expenses | -35 | -37 | ' |
Pension, postretirement, and postemployment liabilities | -523 | -1,643 | ' |
Net actuarial loss | 2,878 | 4,572 | ' |
Net obligation at adoption | ' | 1 | ' |
Prior service credit | -41 | -44 | ' |
Total recognized in other comprehensive loss, pre-tax | 2,837 | 4,529 | ' |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Benefit Obligation | ' | ' | ' |
Benefit obligations at the beginning of year | 460 | 582 | ' |
Service cost - benefits earned during the year | 8 | 8 | 8 |
Interest cost on projected benefit obligation | 13 | 22 | 26 |
Plan participants' contributions | 23 | 24 | ' |
Actuarial losses/(gains) | -43 | -107 | ' |
Retiree Drug Subsidy | 6 | 6 | ' |
Benefits paid | -63 | -76 | ' |
Exchange rate losses | ' | 1 | ' |
Benefit obligations at the end of the year | 404 | 460 | 582 |
Defined Benefit Plan, Change in Fair Value of Plan Assets | ' | ' | ' |
Fair value of plan assets at beginning of year | 311 | 305 | ' |
Actual return on plan assets | 61 | 41 | ' |
Employer contributions | 9 | 11 | ' |
Plan participants' contributions | 23 | 24 | ' |
Retiree Drug Subsidy | 6 | 6 | ' |
Benefits paid | -63 | -76 | ' |
Fair value of plan assets at end of year | 347 | 311 | 305 |
Funded Status | -57 | -149 | ' |
Other assets | 87 | 12 | ' |
Accrued expenses | -12 | -12 | ' |
Pension, postretirement, and postemployment liabilities | -132 | -149 | ' |
Net actuarial loss | -44 | 34 | ' |
Prior service credit | -4 | -6 | ' |
Total recognized in other comprehensive loss, pre-tax | ($48) | $28 | ' |
PENSION_AND_POSTRETIREMENT_BEN4
PENSION AND POSTRETIREMENT BENEFIT PLANS (Actuarial Assumptions) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' | ' |
The decrease in pension and postretirement liabilities as a result of actuarial gains attributed to the benefit obligation and higher than expected returns on plan assets | 1,475 | ' | ' |
The decrease in pension and postretirement liabilities as a result of actuarial gains attributed to the benefit obligation | 805 | ' | ' |
The decrease in pension and postretirement liabilities due to higher than expected returns on plan assets | 670 | ' | ' |
The amount by which the fair value of defined benefit plan assets exceeded the market-related value as of the balance sheet date | 455 | ' | ' |
Percentage of the higher of the market-related value or projected benefit obligation corridor not amortized | 10.00% | ' | ' |
Pension Plans, Defined Benefit [Member] | ' | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' | ' |
Discount rate used to determine benefit obligations | 4.40% | 3.70% | ' |
Rate of compensation increase used to determine benefit obligations | 2.30% | 2.30% | ' |
Discount rate used to determine net periodic benefit cost | 4.10% | 4.40% | 5.20% |
Expected long-term return on plan assets used to determine net periodic benefit cost | 8.00% | 8.20% | 8.30% |
Rate of compensation increase used to determine net periodic benefit cost | 2.30% | 2.30% | 2.40% |
Historical long-term annualized returns for U.S. pension plans, 10 years | 8.00% | 8.50% | 5.60% |
Historical long-term annualized returns for U.S. pension plans, 15 years | 6.80% | 6.50% | 7.00% |
Historical long-term annualized returns for U.S. pension plans, 20 years | 8.80% | 8.50% | 8.10% |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' | ' |
Discount rate used to determine benefit obligations | 3.80% | 3.00% | ' |
Rate of compensation increase used to determine benefit obligations | 2.10% | 2.00% | ' |
Discount rate used to determine net periodic benefit cost | 3.00% | 4.10% | 4.80% |
Expected long-term return on plan assets used to determine net periodic benefit cost | 8.80% | 8.80% | 8.80% |
Rate of compensation increase used to determine net periodic benefit cost | 2.10% | 2.00% | 2.00% |
Healthcare cost trend rate assumed for next year | 6.40% | 6.80% | 7.40% |
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) | 4.50% | 4.50% | 4.50% |
PENSION_AND_POSTRETIREMENT_BEN5
PENSION AND POSTRETIREMENT BENEFIT PLANS (Fair Value Disclosures) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | $7,753 | $6,853 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' |
Fair value at January 1, Asset | 536 | 566 |
Purchases | 26 | 48 |
Sales | -24 | -25 |
Settlements | -120 | -53 |
Realized (losses)/gains | 53 | 49 |
Unrealized gains/(losses) | 40 | -49 |
Fair value at December 31, Asset | 511 | 536 |
Percentage of U.S. pension plan equity investments that are actively managed | 95.00% | ' |
The percentage of employer common stock in total plan assets | 1.00% | ' |
Equity Securities [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | 1,804 | 2,196 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' |
Target allocation percentage of assets | 53.00% | ' |
Equity Funds [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | 2,213 | 1,965 |
Fixed Income Funds [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | 895 | 635 |
Corporate Debt Securities [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | 1,410 | 456 |
Venture Capital Funds [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | 369 | 381 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' |
Fair value at January 1, Asset | 381 | 408 |
Purchases | 22 | 43 |
Sales | -12 | -8 |
Settlements | -101 | -51 |
Realized (losses)/gains | 48 | 53 |
Unrealized gains/(losses) | 31 | -64 |
Fair value at December 31, Asset | 369 | 381 |
Target allocation percentage of assets | 7.00% | ' |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | 1 | 358 |
US Treasury and Government [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | 514 | 259 |
Short Term Investment Funds [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | 122 | 189 |
Insurance Contracts [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | 142 | 132 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' |
Fair value at January 1, Asset | 132 | 125 |
Purchases | 4 | 5 |
Sales | -8 | -7 |
Realized (losses)/gains | 5 | ' |
Unrealized gains/(losses) | 9 | 9 |
Fair value at December 31, Asset | 142 | 132 |
Hedge Funds, Event Driven [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | 122 | 92 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | ' | 56 |
State and Municipal Bonds [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | 24 | 47 |
Asset-backed Securities, Securitized Loans and Receivables [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | ' | 26 |
Real Estate [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | 4 | 3 |
Cash and Cash Equivalents [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | 133 | 58 |
Other Plan Assets [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' |
Fair value at January 1, Asset | 23 | 33 |
Sales | -4 | -10 |
Settlements | -19 | -2 |
Realized (losses)/gains | ' | -4 |
Unrealized gains/(losses) | ' | 6 |
Fair value at December 31, Asset | 0 | 23 |
United States Equity Securities [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' |
Target allocation percentage of assets | 20.00% | ' |
International Equity Securities [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' |
Target allocation percentage of assets | 20.00% | ' |
Global Equity Securities [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' |
Target allocation percentage of assets | 13.00% | ' |
Debt Securities [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' |
Target allocation percentage of assets | 40.00% | ' |
Fair Value Level 1 [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | 2,713 | 2,901 |
Fair Value Level 1 [Member] | Equity Securities [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | 1,804 | 2,196 |
Fair Value Level 1 [Member] | Equity Funds [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | 534 | 410 |
Fair Value Level 1 [Member] | Fixed Income Funds [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | 238 | 234 |
Fair Value Level 1 [Member] | Real Estate [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | 4 | 3 |
Fair Value Level 1 [Member] | Cash and Cash Equivalents [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | 133 | 58 |
Fair Value Level 2 [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | 4,529 | 3,416 |
Fair Value Level 2 [Member] | Equity Funds [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | 1,679 | 1,555 |
Fair Value Level 2 [Member] | Fixed Income Funds [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | 657 | 401 |
Fair Value Level 2 [Member] | Corporate Debt Securities [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | 1,410 | 453 |
Fair Value Level 2 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | 1 | 350 |
Fair Value Level 2 [Member] | US Treasury and Government [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | 514 | 259 |
Fair Value Level 2 [Member] | Short Term Investment Funds [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | 122 | 189 |
Fair Value Level 2 [Member] | Hedge Funds, Event Driven [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | 122 | 92 |
Fair Value Level 2 [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | ' | 50 |
Fair Value Level 2 [Member] | State and Municipal Bonds [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | 24 | 44 |
Fair Value Level 2 [Member] | Asset-backed Securities, Securitized Loans and Receivables [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | ' | 23 |
Fair Value Level 3 [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | 511 | 536 |
Fair Value Level 3 [Member] | Corporate Debt Securities [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | ' | 3 |
Fair Value Level 3 [Member] | Venture Capital Funds [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | 369 | 381 |
Fair Value Level 3 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | ' | 8 |
Fair Value Level 3 [Member] | Insurance Contracts [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | 142 | 132 |
Fair Value Level 3 [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | ' | 6 |
Fair Value Level 3 [Member] | State and Municipal Bonds [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | ' | 3 |
Fair Value Level 3 [Member] | Asset-backed Securities, Securitized Loans and Receivables [Member] | ' | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' | ' |
Total plan assets at fair value | ' | $3 |
PENSION_AND_POSTRETIREMENT_BEN6
PENSION AND POSTRETIREMENT BENEFIT PLANS (Estimated Future Benefit Payments) (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Pension Plans, Defined Benefit [Member] | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' |
Expected future benefit payments, 2014 | $411 |
Expected future benefit payments, 2015 | 366 |
Expected future benefit payments, 2016 | 377 |
Expected future benefit payments, 2017 | 382 |
Expected future benefit payments, 2018 | 380 |
Expected future benefit payments, Years 2019-2023 | 1,974 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ' |
Pension, Postretirement And Postemployment Liabilities Statement [Line Items] | ' |
Expected future benefit payments, 2014 | 44 |
Expected future benefit payments, 2015 | 42 |
Expected future benefit payments, 2016 | 40 |
Expected future benefit payments, 2017 | 38 |
Expected future benefit payments, 2018 | 35 |
Expected future benefit payments, Years 2019-2023 | $144 |
EMPLOYEE_STOCK_BENEFIT_PLANS_S
EMPLOYEE STOCK BENEFIT PLANS (Stock Based Compensation Expense) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Shares of common stock reserved for issuance pursuant to stock plans, options, and conversions of preferred stock | 262 | ' | ' |
Shares available to be granted for active plans | 114 | ' | ' |
Total stock-based compensation expense | $191 | $248 | $161 |
Deferred tax benefit related to stock-based compensation expense | 64 | 82 | 56 |
Stock Options [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Vesting period of stock-based compensation award, in years | '4 years 0 months 0 days | ' | ' |
Maximum contractual term of options | '10 years 0 months 0 days | ' | ' |
Total stock-based compensation expense | 2 | 7 | 27 |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Vesting period of stock-based compensation award, in years | '4 years 0 months 0 days | ' | ' |
Total stock-based compensation expense | 74 | 64 | 79 |
Market share units [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Vesting period of stock-based compensation award, in years | '4 years 0 months 0 days | ' | ' |
Minimum payout factor percentage | 60.00% | ' | ' |
Maximum payout factor percentage | 200.00% | ' | ' |
Total stock-based compensation expense | 29 | 23 | 23 |
Long term performance awards [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Vesting period of stock-based compensation award, in years | '3 years 0 months 0 days | ' | ' |
Maximum payout factor percentage | 167.50% | ' | ' |
Total stock-based compensation expense | 86 | 60 | 32 |
Amylin Stock Options And Restricted Stock Units [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Total stock-based compensation expense | ' | $94 | ' |
EMPLOYEE_STOCK_BENEFIT_PLANS_S1
EMPLOYEE STOCK BENEFIT PLANS (Stock Based Compensation Activity) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Stock Options [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' | ' |
Stock options, Outstanding balance at January 1, 2013 | 41,965 | ' | ' |
Stock options, Exercised | -18,029 | ' | ' |
Stock options, Forfeited | -813 | ' | ' |
Stock options, Outstanding balance at December 31, 2013 | 23,123 | ' | ' |
Stock options, Outstanding balance at January 1, 2013, Weighted average exercise price | $23.21 | ' | ' |
Stock Options, Exercised, Weighted average exercise price | $23.62 | ' | ' |
Stock options, Forfeited, Weighted average exercise price | $23.19 | ' | ' |
Stock options, Outstanding balance at December 31, 2013, Weighted average exercise price | $22.88 | ' | ' |
Vested or Expected to Vest, Number of Options Outstanding | 23,123 | ' | ' |
Vested or Expected to Vest - Stock Options, Weighted-Average Exercise Price of Shares | $22.88 | ' | ' |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | ' | ' | ' |
Nonvested awards, Balance at January 1, 2013 | 7,568 | ' | ' |
Nonvested awards, Granted | 2,653 | ' | ' |
Nonvested awards, Released | -3,050 | ' | ' |
Nonvested awards, Cancelled | -619 | ' | ' |
Nonvested awards, Balance at December 31, 2013 | 6,552 | 7,568 | ' |
Nonvested awards, Balance at January 1, 2013, Weighted average grant date fair value | $27.18 | ' | ' |
Nonvested awards, Granted, Weighted average grant date fair value | $38.73 | $32.71 | $26.04 |
Nonvested awards, Released, Weighted average grant date fair value | $24.36 | ' | ' |
Nonvested awards, Cancelled, Weighted average grant date fair value | $30.97 | ' | ' |
Nonvested awards, Balance at December 31, 2013, Weighted average grant date fair value | $32.81 | $27.18 | ' |
Expected to Vest, Awards Other than Options, Number of Nonvested Awards | 6,053 | ' | ' |
Expected to Vest, Awards Other than Options, Weighted-Average Grant Date Fair Value | $32.81 | ' | ' |
Market share units [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | ' | ' | ' |
Nonvested awards, Balance at January 1, 2013 | 2,204 | ' | ' |
Nonvested awards, Granted | 1,025 | ' | ' |
Nonvested awards, Released | -809 | ' | ' |
Nonvested awards, Adjustments for actual payout | -298 | ' | ' |
Nonvested awards, Cancelled | -290 | ' | ' |
Nonvested awards, Balance at December 31, 2013 | 1,832 | 2,204 | ' |
Nonvested awards, Balance at January 1, 2013, Weighted average grant date fair value | $28.46 | ' | ' |
Nonvested awards, Granted, Weighted average grant date fair value | $37.40 | $31.85 | $25.83 |
Nonvested awards, Released, Weighted average grant date fair value | $27.08 | ' | ' |
Nonvested awards, Adjustments for actual payout, Weighted average grant date fair value | $27.08 | ' | ' |
Nonvested awards, Cancelled, Weighted average grant date fair value | $31.51 | ' | ' |
Nonvested awards, Balance at December 31, 2013, Weighted average grant date fair value | $33.82 | $28.46 | ' |
Expected to Vest, Awards Other than Options, Number of Nonvested Awards | 1,692 | ' | ' |
Expected to Vest, Awards Other than Options, Weighted-Average Grant Date Fair Value | $33.82 | ' | ' |
Long term performance awards [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | ' | ' | ' |
Nonvested awards, Balance at January 1, 2013 | 4,096 | ' | ' |
Nonvested awards, Granted | 2,464 | ' | ' |
Nonvested awards, Released | -2,072 | ' | ' |
Nonvested awards, Adjustments for actual payout | 38 | ' | ' |
Nonvested awards, Cancelled | -234 | ' | ' |
Nonvested awards, Balance at December 31, 2013 | 4,292 | 4,096 | ' |
Nonvested awards, Balance at January 1, 2013, Weighted average grant date fair value | $28.44 | ' | ' |
Nonvested awards, Granted, Weighted average grant date fair value | $37.40 | $32.33 | $25.30 |
Nonvested awards, Released, Weighted average grant date fair value | $27.26 | ' | ' |
Nonvested awards, Adjustments for actual payout, Weighted average grant date fair value | $37.40 | ' | ' |
Nonvested awards, Cancelled, Weighted average grant date fair value | $34.66 | ' | ' |
Nonvested awards, Balance at December 31, 2013, Weighted average grant date fair value | $33.75 | $28.44 | ' |
Expected to Vest, Awards Other than Options, Number of Nonvested Awards | 3,965 | ' | ' |
Expected to Vest, Awards Other than Options, Weighted-Average Grant Date Fair Value | $33.75 | ' | ' |
EMPLOYEE_STOCK_BENEFIT_PLANS_A
EMPLOYEE STOCK BENEFIT PLANS (Additional Information) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Total intrinsic value of stock options exercised during the year | $323 | $153 | $154 |
Stock Options [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Fair value of options that vested during the year | 11 | 23 | 45 |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Unrecognized compensation cost | 155 | ' | ' |
Expected weighted-average period of compensation cost to be recognized | '2 years 8 months 12 days | ' | ' |
Weighted-average grant date fair value (per share) | $38.73 | $32.71 | $26.04 |
Fair value of awards that vested during the year | 74 | 74 | 75 |
Market share units [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Unrecognized compensation cost | 32 | ' | ' |
Expected weighted-average period of compensation cost to be recognized | '2 years 7 months 6 days | ' | ' |
Weighted-average grant date fair value (per share) | $37.40 | $31.85 | $25.83 |
Fair value of awards that vested during the year | 30 | 18 | 8 |
Long term performance awards [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Unrecognized compensation cost | 27 | ' | ' |
Expected weighted-average period of compensation cost to be recognized | '1 year 4 months 24 days | ' | ' |
Weighted-average grant date fair value (per share) | $37.40 | $32.33 | $25.30 |
Fair value of awards that vested during the year | $90 | $56 | $21 |
EMPLOYEE_STOCK_BENEFIT_PLANS_O
EMPLOYEE STOCK BENEFIT PLANS (Outstanding and Exercisable Options) (Details) (USD $) | 12 Months Ended |
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Options Outstanding, Number Outstanding | 23,123 |
Options Outstanding, Weighted Average Remaining Contractual Life | '3 years 2 months 27 days |
Options Outstanding, Weighted Average Exercise Price Per Share | $22.88 |
Options Outstanding, Aggregate Intrinsic Value | $700 |
Options Exercisable, Number Exercisable | 23,123 |
Options Exercisable, Weighted Average Remaining Contractual Life | '3 years 2 months 27 days |
Options Exercisable, Weighted Average Exercise Price Per Share | $22.88 |
Options Exercisable, Aggregate Intrinsic Value | 700 |
Closing Company stock price used to calculate the aggregate intrinsic value | $53.15 |
Exercise Price Of One Dollar To Twenty Dollars [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Options Outstanding, Number Outstanding | 6,457 |
Options Outstanding, Weighted Average Remaining Contractual Life | '5 years 1 month 28 days |
Options Outstanding, Weighted Average Exercise Price Per Share | $17.51 |
Options Outstanding, Aggregate Intrinsic Value | 230 |
Options Exercisable, Number Exercisable | 6,457 |
Options Exercisable, Weighted Average Remaining Contractual Life | '5 years 1 month 28 days |
Options Exercisable, Weighted Average Exercise Price Per Share | $17.51 |
Options Exercisable, Aggregate Intrinsic Value | 230 |
Exercise Price Of Twenty Dollars To Thirty Dollars [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Options Outstanding, Number Outstanding | 16,660 |
Options Outstanding, Weighted Average Remaining Contractual Life | '2 years 5 months 27 days |
Options Outstanding, Weighted Average Exercise Price Per Share | $24.96 |
Options Outstanding, Aggregate Intrinsic Value | 470 |
Options Exercisable, Number Exercisable | 16,660 |
Options Exercisable, Weighted Average Remaining Contractual Life | '2 years 5 months 27 days |
Options Exercisable, Weighted Average Exercise Price Per Share | $24.96 |
Options Exercisable, Aggregate Intrinsic Value | $470 |
Exercise Price Of Thirty Dollars To Forty Dollars [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Options Outstanding, Number Outstanding | 6 |
Options Outstanding, Weighted Average Remaining Contractual Life | '3 years 5 months 19 days |
Options Outstanding, Weighted Average Exercise Price Per Share | $31.30 |
Options Exercisable, Number Exercisable | 6 |
Options Exercisable, Weighted Average Remaining Contractual Life | '3 years 5 months 19 days |
Options Exercisable, Weighted Average Exercise Price Per Share | $31.30 |
LEASES_Details
LEASES (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating Leases, Rent Expense, Net [Abstract] | ' | ' | ' |
Operating lease expense | $144 | $142 | $136 |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | ' | ' | ' |
Minimum rental commitments for non-cancelable operating leases, 2014 | 145 | ' | ' |
Minimum rental commitments for non-cancelable operating leases, 2015 | 137 | ' | ' |
Minimum rental commitments for non-cancelable operating leases, 2016 | 117 | ' | ' |
Minimum rental commitments for non-cancelable operating leases, 2017 | 77 | ' | ' |
Minimum rental commitments for non-cancelable operating leases, 2018 | 65 | ' | ' |
Minimum rental commitments for non-cancelable operating leases, Later years | 73 | ' | ' |
Total minimum rental commitments | $614 | ' | ' |
LEGAL_PROCEEDINGS_AND_CONTINGE1
LEGAL PROCEEDINGS AND CONTINGENCIES (Details) (USD $) | 3 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Sep. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Oct. 30, 2011 | 31-May-08 | Dec. 31, 2013 | Nov. 30, 2008 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Aug. 31, 2013 | Mar. 31, 2010 | Apr. 30, 2009 | Aug. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
Baraclude [Member] | Baraclude [Member] | Baraclude [Member] | AWP Litigation [Member] | AWP Litigation [Member] | Qui Tam Litigation [Member] | Environmental Proceedings New Brunswick [Member] | Environmental Proceedings New Brunswick [Member] | Environmental Proceedings New Brunswick [Member] | Hormone Replacement Therapy Product Liability [Member] | Plavix Product Liability [Member] | Plavix Product Liability [Member] | Cercla Matters [Member] | Reglan Product Liability [Member] | Atripla Intellectual Property Litigation [Member] | Atripla Intellectual Property Litigation [Member] | Atripla Intellectual Property Litigation [Member] | Baraclude Intellectual Property Litigation [Member] | Baraclude Intellectual Property Litigation [Member] | Baraclude Intellectual Property Litigation [Member] | Environmental Proceedings North Brunswick [Member] | Environmental Proceedings North Brunswick [Member] | Byetta And Bydureon Product Liability [Member] | BMS-986094 Product Liability [Member] | Abilify Copay Assistance Litigation [Member] | ||||||||||||
lawsuits | Baraclude [Member] | Baraclude [Member] | ||||||||||||||||||||||||||||||||||
United States [Member] | South Korea [Member] | |||||||||||||||||||||||||||||||||||
Legal Proceedings And Contingencies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of patent infringement lawsuits | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of patents owned | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6 | 15 | ' | ' | ' | ' | ' | ' | ' | ' |
Number of patents challenged | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8 | 2 | 1 | ' | ' | ' | ' | ' | ' | ' |
Number of lawsuits | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | 400 | 150 | 250 | 3 | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | 280 | 10 | ' |
Loss contingency, Estimate of possible loss | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $28 | ' | ' | ' | ' | ' | ' | ' | $66 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of current plaintiffs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,700 | ' | 3,000 | ' | ' | ' | ' | ' | ' | ' | ' | 1,100 | ' | ' |
Number of plaintiffs settled | 8 | ' | ' | ' | ' | ' | ' | ' | 8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 350 | ' | ' |
Number of plaintiffs settled in principle | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Litigation settlement, Gross | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' |
Interest percentage on damages sought by third party | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of interim payments already transmitted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' |
Revenues | $4,441 | $4,065 | $4,048 | $3,831 | $4,191 | $3,736 | $4,443 | $5,251 | $16,385 | $17,621 | $21,244 | $1,527 | $1,388 | $1,196 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $289 | $158 | ' | ' | ' | ' | ' |
Number of settlements relating to efavirenz polymorph patents | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of sales representatives | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional plaintiffs settled in principle | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 29 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of claims remaining outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 1 |
SELECTED_QUARTERLY_FINANCIAL_D2
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Selected Quarterly Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenues | $4,441 | $4,065 | $4,048 | $3,831 | $4,191 | $3,736 | $4,443 | $5,251 | $16,385 | $17,621 | $21,244 | ' |
Gross Margin | 3,168 | 2,890 | 2,940 | 2,768 | 3,116 | 2,749 | 3,198 | 3,948 | 11,766 | 13,011 | ' | ' |
Net Earnings | 735 | 692 | 530 | 623 | 924 | -713 | 808 | 1,482 | 2,580 | 2,501 | 5,260 | ' |
Net Earnings/(Loss) Attributable to Noncontrolling Interest | 9 | ' | -6 | 14 | -1 | -2 | 163 | 381 | 17 | 541 | 1,551 | ' |
Net Earnings/(Loss) Attributable to BMS | 726 | 692 | 536 | 609 | 925 | -711 | 645 | 1,101 | 2,563 | 1,960 | 3,709 | ' |
Earnings/(Loss) per Share - Basic | $0.44 | $0.42 | $0.33 | $0.37 | $0.56 | ($0.43) | $0.38 | $0.65 | $1.56 | $1.17 | $2.18 | ' |
Earnings/(Loss) per Share - Diluted | $0.44 | $0.42 | $0.32 | $0.37 | $0.56 | ($0.43) | $0.38 | $0.64 | $1.54 | $1.16 | $2.16 | ' |
Cash dividends declared per common share | $0.36 | $0.35 | $0.35 | $0.35 | $0.35 | $0.34 | $0.34 | $0.34 | $1.41 | $1.37 | $1.33 | ' |
Cash and cash equivalents | 3,586 | 1,771 | 1,821 | 1,355 | 1,656 | 1,503 | 2,801 | 2,307 | 3,586 | 1,656 | 5,776 | 5,033 |
Marketable securities | 4,686 | 4,574 | 4,201 | 4,420 | 4,696 | 5,125 | 5,968 | 6,307 | 4,686 | 4,696 | ' | ' |
Total Assets | 38,592 | 36,804 | 36,252 | 35,958 | 35,897 | 36,044 | 31,667 | 32,408 | 38,592 | 35,897 | ' | ' |
Long-term debt | 7,981 | 6,562 | 7,122 | 7,180 | 7,232 | 7,227 | 5,209 | 5,270 | 7,981 | 7,232 | ' | ' |
Equity | 15,236 | 14,714 | 14,373 | 13,699 | 13,638 | 13,900 | 15,812 | 16,246 | 15,236 | 13,638 | ' | ' |
Cost of products sold | 102 | 69 | 70 | 85 | 84 | 54 | 147 | ' | 326 | 285 | ' | ' |
Marketing, selling and administrative | 10 | 4 | 1 | 1 | 2 | 70 | 5 | 8 | 16 | 85 | ' | ' |
Research and development | 16 | 0 | 0 | 0 | 65 | 48 | 45 | 58 | 16 | 216 | ' | ' |
Impairment charge for BMS-9860094 intangible asset | ' | ' | ' | ' | ' | 1,830 | ' | ' | ' | 1,830 | ' | ' |
Other (income)/expense | 39 | 43 | 239 | 19 | 249 | 116 | 43 | -81 | 340 | 327 | ' | ' |
Increase to pretax income | 167 | 116 | 310 | 105 | 400 | 2,118 | 240 | -15 | 698 | 2,743 | ' | ' |
Income tax/(tax benefit) on items above | -51 | -40 | -116 | -35 | -156 | -722 | -77 | 8 | -242 | -947 | ' | ' |
Specified tax benefit | ' | ' | ' | ' | -392 | ' | ' | ' | ' | -392 | ' | ' |
Income taxes - specified items | ' | ' | ' | ' | -548 | -722 | -77 | 8 | ' | -1,339 | ' | ' |
(Increase)/Decrease to Net Earnings | 116 | 76 | 194 | 70 | -148 | 1,396 | 163 | -7 | 456 | 1,404 | ' | ' |
Accelerated Depreciation Asset Impairment And Other Shutdown Costs [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selected Quarterly Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase to pretax income | 36 | ' | ' | ' | ' | ' | 147 | ' | 36 | 147 | ' | ' |
Amortization Of Acquired Intangible Assets [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selected Quarterly Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase to pretax income | 137 | 137 | 137 | 138 | 138 | 91 | ' | ' | 549 | 229 | ' | ' |
Amortization of Alliance Proceeds [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selected Quarterly Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase to pretax income | -71 | -68 | -67 | -67 | -68 | -46 | ' | ' | -273 | -114 | ' | ' |
Amortization Of Purchase Price Inventory Adjustment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selected Quarterly Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase to pretax income | ' | ' | ' | 14 | 14 | 9 | ' | ' | 14 | 23 | ' | ' |
Stock Compensation From Accelerated Vesting Of Awards MS&A [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selected Quarterly Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase to pretax income | ' | ' | ' | ' | ' | 67 | ' | ' | ' | 67 | ' | ' |
Process Standardization Implementation Costs [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selected Quarterly Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase to pretax income | ' | ' | ' | ' | 2 | 3 | 5 | 8 | ' | 18 | ' | ' |
Stock Compensation From Accelerated Vesting Of Awards R&D [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selected Quarterly Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase to pretax income | ' | ' | ' | ' | ' | 27 | ' | ' | ' | 27 | ' | ' |
Upfront, milestone and other licensing payments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selected Quarterly Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase to pretax income | ' | ' | ' | -14 | 26 | 21 | ' | ' | -14 | 47 | ' | ' |
In Process Research And Development Impairment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selected Quarterly Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase to pretax income | ' | ' | ' | ' | 39 | ' | 45 | 58 | ' | 142 | ' | ' |
Provision For Restructuring [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selected Quarterly Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase to pretax income | 14 | 6 | 173 | 33 | 103 | 29 | 20 | 22 | 226 | 174 | ' | ' |
Gain On Sale Of Product Lines Businesses And Assets [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selected Quarterly Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase to pretax income | ' | ' | ' | ' | -51 | ' | ' | ' | ' | -51 | ' | ' |
Pension Curtailment And Settlement Charges [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selected Quarterly Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase to pretax income | 25 | 37 | 99 | ' | 151 | ' | ' | ' | 161 | 151 | ' | ' |
Acquisition Related Expenses [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selected Quarterly Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase to pretax income | ' | ' | -10 | ' | 1 | 29 | 1 | 12 | -10 | 43 | ' | ' |
Litigation Charges/(Recoveries) [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selected Quarterly Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase to pretax income | ' | ' | -23 | ' | 55 | 50 | 22 | -172 | -23 | -45 | ' | ' |
Upfront, milestone and other licensing receipts [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selected Quarterly Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase to pretax income | ' | ' | ' | ' | -10 | ' | ' | ' | ' | -10 | ' | ' |
Outlicensed Intangible Asset Impairment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selected Quarterly Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase to pretax income | ' | ' | ' | ' | ' | ' | ' | 38 | ' | 38 | ' | ' |
Loss On Debt Repurchase [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selected Quarterly Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase to pretax income | ' | ' | ' | ' | ' | $8 | ' | $19 | ' | $27 | ' | ' |