Document and Entity Information (USD $)

12 Months Ended

Dec. 31, 2014

Feb. 2, 2015

Jun. 30, 2014

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

1,662,118,446

Entity Public Float

$ 80,332,478,552

Document Type

10-K

Document Period End Date

Dec. 31, 2014

Document Fiscal Year Focus

2014

Document Fiscal Period Focus

FY

Current Fiscal Year End Date

--12-31

Amendment Flag

false

CONSOLIDATED STATEMENTS OF EARNINGS (USD $)

In Millions, except Per Share data, unless otherwise specified

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Income Statement [Abstract]

Net product sales

$ 11,660

$ 12,304

$ 13,654

Alliance and other revenues

4,219

4,081

3,967

Total Revenues

15,879

16,385

17,621

Cost of products sold

3,932

4,619

4,610

Marketing, selling and administrative

4,088

4,084

4,220

Advertising and product promotion

734

855

797

Research and development

4,534

3,731

3,904

Impairment charge for BMS-986094 intangible asset

1,830

Other (income)/expense

210

205

(80)

Total Expenses

13,498

13,494

15,281

Earnings Before Income Taxes

2,381

2,891

2,340

Provision for/(Benefit from) Income Taxes

352

311

(161)

Net Earnings

2,029

2,580

2,501

Net Earnings Attributable to Noncontrolling Interest

25

17

541

Net Earnings Attributable to BMS

$ 2,004

$ 2,563

$ 1,960

Earnings per Common Share

Basic Earnings Per Common Share Attributable to BMS

$ 1.21

$ 1.56

$ 1.17

Diluted Earnings per Common Share Attributable to BMS

$ 1.20

$ 1.54

$ 1.16

Cash dividends declared per common share

$ 1.45

$ 1.41

$ 1.37

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)

In Millions, unless otherwise specified

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract]

Net Earnings

$ 2,029

$ 2,580

$ 2,501

Other Comprehensive Income (Loss), net of taxes and reclassifications to earnings [Abstract]

Derivatives qualifying as cash flow hedges

69

7

(27)

Pension and postretirement benefits

(324)

1,166

(118)

Available-for-sale securities

3

(37)

3

Foreign currency translation

(32)

(75)

(15)

Total Other Comprehensive Income/(Loss)

(284)

1,061

(157)

Comprehensive Income

1,745

3,641

2,344

Comprehensive Income Attributable to Noncontrolling Interest

25

17

535

Comprehensive Income Attributable to BMS

$ 1,720

$ 3,624

$ 1,809

CONSOLIDATED BALANCE SHEETS (USD $)

In Millions, unless otherwise specified

Dec. 31, 2014

Dec. 31, 2013

Current Assets:

Cash and cash equivalents

$ 5,571

$ 3,586

Marketable securities, current

1,864

939

Receivables

3,390

3,360

Inventories

1,560

1,498

Deferred income taxes, current

1,644

1,701

Prepaid expenses and other

470

412

Assets held-for-sale

109

7,420

Total Current Assets

14,608

18,916

Property, plant and equipment

4,417

4,579

Goodwill

7,027

7,096

Other intangible assets

1,753

2,318

Deferred income taxes

915

508

Marketable securities, noncurrent

4,408

3,747

Other assets

621

1,428

Total Assets

33,749

38,592

Current Liabilities:

Short-term borrowings

590

359

Accounts payable

2,487

2,559

Accrued expenses

2,459

2,152

Deferred income, current

1,167

756

Accrued rebates and returns

851

889

Income taxes payable, current

262

160

Dividends payable

645

634

Liabilities related to assets held-for-sale

4,931

Total Current Liabilities

8,461

12,440

Pension, postretirement, and postemployment liabilities

1,115

718

Deferred income, noncurrent

770

769

Income taxes payable, noncurrent

560

823

Other liabilities

618

625

Long-term debt

7,242

7,981

Total Liabilities

18,766

23,356

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 4,212 in 2014 and 4,369 in 2013, liquidation value of $50 per share

0

Common stock, par value of $0.10 per share: Authorized 4.5 billion shares; 2.2 billion issued in both 2014 and 2013

221

Capital in excess of par value of stock

1,507

1,922

Accumulated other comprehensive loss

(2,425)

(2,141)

Retained earnings

32,541

32,952

Less cost of treasury stock - 547 million common shares in 2014 and 559 million in 2013

(16,992)

(17,800)

Total Bristol-Myers Squibb Company Shareholders' Equity

14,852

15,154

Noncontrolling interest

131

82

Total Equity

14,983

15,236

Total Liabilities and Equity

$ 33,749

$ 38,592

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)

Dec. 31, 2014

Dec. 31, 2013

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

4,212

4,369

Preferred Stock, Shares Outstanding

4,212

4,369

Preferred Stock, Liquidation Preference Per Share

$ 50

Common Stock, Par or Stated Value Per Share

$ 0.1

Common Stock, Shares Authorized

4,500,000,000

Common Stock, Shares Issued

2,200,000,000

Treasury Stock, Shares

547,000,000

559,000,000

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)

In Millions, unless otherwise specified

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Cash Flows From Operating Activities:

Net Earnings

$ 2,029

$ 2,580

$ 2,501

Adjustments to reconcile net earnings to net cash provided by operating activities:

Net earnings attributable to noncontrolling interest

(25)

(17)

(541)

Depreciation and amortization, net

467

763

681

Deferred income taxes

(542)

(491)

(1,230)

Stock-based compensation

213

191

154

Impairment charges

401

40

2,180

Pension settlements and amortization

971

294

292

Proceeds from Amylin diabetes alliance

3,570

Gain on sale of businesses and other

(567)

(9)

(35)

Changes in operating assets and liabilities:

Receivables

(252)

(504)

648

Inventories

(254)

(45)

(103)

Accounts payable

(44)

412

(232)

Deferred income

613

965

295

Income taxes payable

171

126

(50)

Other

(33)

(760)

(1,189)

Net Cash Provided by Operating Activities

3,148

3,545

6,941

Cash Flows From Investing Activities:

Proceeds from sale and maturities of marketable securities

4,095

1,815

4,890

Purchases of marketable securities

(5,719)

(1,859)

(3,607)

Additions to property, plant and equipment and capitalized software

(526)

(537)

(548)

Business divestitures and other proceeds

3,585

9

68

Business acquisitions and other payments

(219)

(7,530)

Net Cash Provided by/(Used in) Investing Activities

1,216

(572)

(6,727)

Cash Flows From Financing Activities:

Short-term debt borrowings, net

244

198

49

Proceeds from issuance of long-term debt

1,489

1,950

Repayments of long-term debt

(676)

(597)

(2,108)

Interest rate swap contract terminations

105

20

2

Issuances of common stock

288

564

463

Repurchases of common stock

(433)

(2,403)

Dividends

(2,398)

(2,309)

(2,286)

Net Cash Used in Financing Activities

(2,437)

(1,068)

(4,333)

Effect of Exchange Rates on Cash and Cash Equivalents

58

25

(1)

Increase/(Decrease) in Cash and Cash Equivalents

1,985

1,930

(4,120)

Cash and Cash Equivalents at Beginning of Year

3,586

1,656

5,776

Cash and Cash Equivalents at End of Year

$ 5,571

$ 3,586

$ 1,656

ACCOUNTING POLICIES

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 and all of its controlled majority-owned subsidiaries and certain variable interest entities (which may be referred to as Bristol-Myers Squibb, BMS, or the Company). 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 and are consolidated when BMS has both the power to direct the activities of the variable interest entity that most significantly impacts its economic performance and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the entity.

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; estimated selling prices used in multiple element arrangements; 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.

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” utilizing 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 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 2014 include our share price, 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. Estimating the impact of restructuring plans, including future termination benefits and other exit costs requires judgment. 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 $115 million in 2014, $119 million in 2013 and $125 million in 2012.

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 April 2014, the Financial Accounting Standards Board (FASB) issued amended guidance on the use and presentation of discontinued operations in an entity's consolidated financial statements. The new guidance restricts the presentation of discontinued operations to business circumstances when the disposal of business operations represents a strategic shift that has or will have a major effect on an entity's operations and financial results. The guidance becomes effective on January 1, 2015. Adoption is on a prospective basis.

In May 2014, the FASB issued a new standard related to revenue recognition, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The new standard will replace most of the existing revenue recognition standards in U.S. GAAP when it becomes effective on January 1, 2017. Early adoption is not permitted. The new standard can be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of the change recognized at the date of the initial application in retained earnings. The Company is assessing the potential impact of the new standard on financial reporting and has not yet selected a transition method.

BUSINESS SEGMENT INFORMATION

Segment Reporting Disclosure [Text Block]

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:



	2014		2013		2012
McKesson Corporation	20	%	19	%	23	%
Cardinal Health, Inc.	12	%	14	%	19	%
AmerisourceBergen Corporation	17	%	15	%	14	%

Selected geographic area information was as follows:



	Total Revenues						Property, Plant and Equipment
Dollars in Millions	2014		2013		2012		2014		2013
United States	$	7,716	$	8,318	$	10,384	$	3,686	$	3,708
Europe	3,592		3,930		3,706		597		729
Rest of the World	3,459		3,295		3,204		134		142
Other^(a)	1,112		842		327		—		—
Total	$	15,879	$	16,385	$	17,621	$	4,417	$	4,579


(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	2014		2013		2012
Virology
Baraclude (entecavir)	$	1,441	$	1,527	$	1,388
Hepatitis C Franchise^(a)	256		—		—
Reyataz (atazanavir sulfate)	1,362		1,551		1,521
Sustiva (efavirenz) Franchise^(b)	1,444		1,614		1,527
Oncology
Erbitux* (cetuximab)	723		696		702
Opdivo (nivolumab)	6		—		—
Sprycel (dasatinib)	1,493		1,280		1,019
Yervoy (ipilimumab)	1,308		960		706
Neuroscience
Abilify* (aripiprazole)^(c)	2,020		2,289		2,827
Immunoscience
Orencia (abatacept)	1,652		1,444		1,176
Cardiovascular
Eliquis (apixaban)	774		146		2
Diabetes Alliance^(d)	295		1,683		972
Mature Products and All Other^(e)	3,105		3,195		5,781
Total Revenues	$	15,879	$	16,385	$	17,621


(a)	Includes Daklinza (daclatasvir) revenues of $201 million and Sunvepra (asunaprevir) revenues of $55 million in 2014.


(b)	Includes alliance and other revenues of $1,255 million in 2014, $1,366 million in 2013 and $1,267 million in 2012.


(c)	Includes alliance and other revenues of $1,778 million in 2014, $1,840 million in 2013 and $2,340 million in 2012.


(d)	Includes Bydureon* (exenatide extended-release for injectable suspension), Byetta* (exenatide), Farxiga/Xigduo (dapagliflozin/dapagliflozin and metformin hydrochloride), Onglyza/Kombiglyze (saxagliptin/saxagliptin and metformin), Myalept* (metreleptin) and Symlin* (pramlintide acetate). BMS sold its diabetes business to AstraZeneca on February 1, 2014.


(e)	Includes Plavix* (clopidogrel bisulfate) revenues of $208 million in 2014, $258 million in 2013 and $2,547 million in 2012. Additionally, includes Avapro/Avalide (irbesartan/irbesartan-hydrochlorothiazide) revenues of $211 million in 2014, $231 million in 2013 and $503 million in 2012.

ALLIANCES

Alliances[Text Block]

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. Several key products such as Abilify*, Sprycel, Sustiva (Atripla*), Eliquis, Erbitux* and Opdivo, as well as products comprising the diabetes alliance discussed below and certain mature and other brands are included in alliance arrangements.

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 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, except as otherwise described below.

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	2014			2013			2012
Revenues from alliances:
Net product sales	$	3,531		$	4,417		$	6,124
Alliance and other revenues	3,828			3,804			3,748
Total Revenues	$	7,359		$	8,221		$	9,872

Payments to/(from) alliance partners:
Cost of products sold	$	1,394		$	1,356		$	1,706
Marketing, selling and administrative	44			(125		)	(80		)
Advertising and product promotion	90			(58		)	(97		)
Research and development	(70		)	(140		)	4
Other (income)/expense	(1,076		)	(313		)	(489		)

Noncontrolling interest, pre-tax	38			36			844



Selected Alliance Balance Sheet Information:	December 31,
Dollars in Millions	2014		2013
Receivables – from alliance partners	$	888	$	1,122
Accounts payable – to alliance partners	1,479		1,396
Deferred income from alliances^(a)	1,493		5,089


(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 co-develop and co-promote 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 on April 20, 2015. The agreement expired 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 20, 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. and was the principal in the EU prior to termination in June 2014. BMS is the principal for third-party product sales where it is the exclusive distributor for or has an exclusive right to sell Abilify*.

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. 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 year end. BMS's annual contractual share was 33% in 2014 and 34% 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 EU, BMS’s contractual share of third-party net sales was 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 on April 20, 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 and 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.

Summarized financial information related to this alliance was as follows:



	Year Ended December 31,
Dollars in Millions	2014			2013			2012
Revenues from Otsuka alliances:
Net product sales	$	1,493		$	1,543		$	1,386
Alliance and other revenues^(a)	1,778			1,840			2,340
Total Revenues	$	3,271		$	3,383		$	3,726

Payments to/(from) Otsuka:
Cost of products sold:
Oncology fee	$	297		$	295		$	138
Royalties	90			86			78
Amortization of intangible assets	—			—			5
Cost of product supply	67			135			153

Cost reimbursements to/(from) Otsuka recognized in:
Cost of products sold	3			3			2
Marketing, selling and administrative	61			34			7
Advertising and product promotion	32			(42		)	(49		)
Research and development	3			(5		)	(7		)

Other (income)/expense	(9		)	—			—



Selected Alliance Balance Sheet information:	December 31,
Dollars in Millions	2014		2013
Other assets – extension payment	$	21	$	87


(a)	Includes the amortization of the extension payment as a reduction to alliance and other revenue of $66 million in 2014, 2013 and 2012.

AstraZeneca

Prior to the diabetes business divestiture discussed below, BMS had an alliance with AstraZeneca consisting of three worldwide co-development and commercialization agreements covering (1) Onglyza* and related combination products sold under various names, (2) Farxiga* and related combination products and, (3) beginning in August 2012 after BMS's acquisition of Amylin Pharmaceuticals, Inc. (Amylin), Amylin's portfolio of products including Bydureon*, Byetta*, Symlin* and Myalept*, as well as certain assets owned by Amylin, including a manufacturing facility located in West Chester, Ohio.

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, 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, upfront 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, Myalept* 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.

Prior to the termination of the alliance, BMS received non-refundable upfront, milestone and other licensing payments of $300 million related to Onglyza* and $250 million related to Farxiga*. Amortization of the Onglyza* and Farxiga* deferred income was included in other income as Onglyza* and Farxiga* were not commercial products at the commencement of the alliance. Both parties also shared most commercialization and development expenses equally, as well as profits and losses.

In February 2014, BMS and AstraZeneca terminated their alliance agreements and BMS sold to AstraZeneca substantially all of the diabetes business comprising the alliance. The divestiture included the shares of Amylin and the resulting transfer of its Ohio manufacturing facility; the intellectual property related to Onglyza* and Farxiga* (including BMS's interest in the out-licensing agreement for Onglyza* in Japan); and the future purchase of BMS’s manufacturing facility located in Mount Vernon, Indiana in 2015. Substantially all employees dedicated to the diabetes business were transferred to AstraZeneca. The sale of the business has been completed in all jurisdictions.

BMS and AstraZeneca entered into several agreements in connection with the sale, including a supply agreement, a development agreement and a transitional services agreement. Under those agreements, BMS is obligated to supply certain products, including the active product ingredients for Onglyza* and Farxiga* through 2020; to perform ongoing development activities for certain clinical trial programs through 2016; and to provide transitional services such as accounting, financial services, customer service, distribution, regulatory, development, information technology and certain other administrative services for various periods in order to facilitate the orderly transfer of the business operations. Annual costs attributed to the development agreement are not expected to exceed approximately $115 million for both 2015 and 2016.

Consideration for the transaction includes a $2.7 billion payment at closing; contingent regulatory and sales-based milestone payments of up to $1.4 billion (including $800 million related to approval milestones and $600 million related to sales-based milestones, payable in 2020); royalty payments based on net sales through 2025 and payments up to $225 million if and when certain assets are transferred to AstraZeneca. AstraZeneca will also pay BMS for any required product supply at a price approximating the product cost as well as negotiated transitional service fees.

Royalty rates on net sales are as follows:



	2014		2015		2016		2017		2018 - 2025
Onglyza* and Farxiga* Worldwide Net Sales up to $500 million	44	%	35	%	27	%	12	%	14-25%
Onglyza* and Farxiga* Worldwide Net Sales over $500 million	3	%	7	%	9	%	12	%	14-25%
Amylin products U.S. Net Sales	—		2	%	2	%	5	%	5-12%

The stock and asset purchase agreement contains multiple elements to be delivered subsequent to the closing of the transaction, including the China diabetes business (transferred during the third quarter of 2014), the Mount Vernon, Indiana manufacturing facility, and the activities under the development and supply agreements. Each of these elements was determined to have a standalone value. As a result, a portion of the consideration received at closing was allocated to the undelivered elements using the relative selling price method after determining the best estimated selling price for each element. The remaining amount of consideration was included in the calculation for the gain on sale of the diabetes business. Contingent milestone and royalty payments are similarly allocated among the underlying elements if and when the amounts are determined to be payable to BMS. Amounts allocated to the sale of the business are immediately recognized in the results of operations. Amounts allocated to the other elements are recognized in the results of operations only to the extent each element has been delivered.

Consideration of $3.8 billion was accounted for in 2014, substantially all in the first quarter (including royalties and $700 million of contingent regulatory milestone payments related to the approval of Farxiga* in both the U.S. and Japan). Approximately $3.3 billion of the consideration was allocated to the sale of the business and the remaining $492 million was allocated to the undelivered elements described above. The consideration includes $235 million of earned royalties, including $192 million allocated to elements that were delivered. The gain on sale of the diabetes business was $536 million, including $292 million during the third quarter of 2014 resulting primarily from the transfer of the China diabetes business to AstraZeneca. The gain was based on the difference between the consideration allocated to the sale of the business excluding royalties (net of transaction fees) and the carrying value of the diabetes business net assets (including a $600 million allocation of goodwill and the reversal of $821 million of net deferred tax liabilities attributed to Amylin).

Consideration allocated to the Mount Vernon, Indiana manufacturing facility will continue to be deferred until transferred to AstraZeneca. Consideration allocated to the development and supply agreements will continue to be amortized over the applicable service periods. Amortization of deferred income attributed to the development agreement was included in other income as the sale of these services are not considered part of BMS’s ongoing major or central operations. Revenues attributed to the supply agreement were included in alliance and other revenues.

Consideration for the transaction is presented for cash flow purposes based on the allocation process described above, either as an investing activity if attributed to the sale of the business or related assets or as an operating activity if attributed to the transitional services, supply arrangement or development agreement.

Summarized financial information related to the AstraZeneca alliances was as follows:



	Year Ended December 31,
Dollars in Millions	2014			2013			2012
Revenues from AstraZeneca alliances:
Net product sales	$	160		$	1,658		$	962
Alliance and other revenues	135			16			10
Total Revenues	$	295		$	1,674		$	972

Payments to/(from) AstraZeneca:
Cost of products sold:
Profit sharing	$	79		$	673		$	425
Amortization of deferred income	—			(307		)	(126		)

Cost reimbursements to/(from) AstraZeneca recognized in:
Cost of products sold	(9		)	(25		)	(4		)
Marketing, selling and administrative	(6		)	(127		)	(66		)
Advertising and product promotion	(2		)	(45		)	(43		)
Research and development	(16		)	(86		)	(25		)

Other (income)/expense:
Amortization of deferred income	(80		)	(31		)	(38		)
Provision for restructuring	(2		)	(25		)	(21		)
Royalties	(192		)	—			—
Transitional services	(90		)	—			—
Gain on sale of business	(536		)	—			—

Selected Alliance Cash Flow information:
Deferred income	315			215			3,547
Business divestitures and other proceeds	3,495			—			—



Selected Alliance Balance Sheet information:	December 31,
Dollars in Millions	2014		2013
Deferred income attributed to:
Non-refundable upfront, milestone and other licensing receipts^(a)	$	—	$	3,671
Assets not yet transferred to AstraZeneca	176		—
Services not yet performed for AstraZeneca	226		—


(a)	Included in liabilities related to assets held-for-sale at December 31, 2013.

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*. The joint ventures or Gilead 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 in Europe recognized by BMS is equal to the difference between the average net selling prices of Atripla* and Truvada*. This alliance will continue in Europe 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	2014		2013		2012
Revenues from Gilead alliances:
Alliance and other revenues	$	1,255	$	1,366	$	1,267

Equity in net loss of affiliates	$	39	$	17	$	18



Selected Alliance Balance Sheet information:	December 31,
Dollars in Millions	2014		2013
Deferred income	$	316	$	468

Lilly

BMS has an Epidermal Growth Factor Receptor (EGFR) commercialization agreement with Eli Lilly and Company (Lilly) through Lilly’s subsidiary ImClone for the co-development and co-promotion of Erbitux* in the U.S., Canada and Japan. Under the EGFR agreement, both parties actively participate in a joint executive committee and various other operating committees and share responsibilities for research and development using resources in their own infrastructures. With respect to Erbitux*, Lilly manufactures bulk requirements for cetuximab in its own facilities and filling and finishing is performed by a third party for which BMS has oversight responsibility. BMS is responsible for promotional efforts in North America although Lilly has the right to co-promote at their own expense. BMS also has co-development and co-promotion rights in Canada and Japan. BMS is the principal in third-party customer sales in North America and pays Lilly a distribution fee for 39% of Erbitux* net sales in North America plus a share of certain royalties paid by Lilly. The agreement expires as to Erbitux* in North America in September 2018.

BMS shared rights to Erbitux* in Japan under an agreement with Lilly and Merck KGaA and received 50% of the pre-tax profit from Merck KGaA’s net sales of Erbitux* in Japan which was further shared equally with Lilly. In December 2014, BMS agreed to transfer its co-commercialization rights in Japan to Merck KGaA in May 2015 in exchange for future royalties through 2032 which will be included in other income when earned.

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.

License acquisition costs of $500 million associated with the Erbitux* alliance agreement are amortized through 2018.

Summarized financial information related to this alliance was as follows:



	Year Ended December 31,
Dollars in Millions	2014		2013			2012
Revenues from Lilly alliance:
Net product sales	$	691	$	696		$	702
Alliance and other revenues	32		—			—
Total revenues	$	723	$	696		$	702

Payments to/(from) Lilly:
Cost of products sold:
Distribution fees and royalties	$	287	$	289		$	291
Amortization of intangible asset	37		37			38
Cost of product supply	69		65			81

Cost reimbursements to/(from) Lilly	—		(13		)	23
Other (income)/expense – Japan commercialization fee	—		(30		)	(37		)



Selected Alliance Balance Sheet information	December 31,
Dollars in Millions	2014		2013
Other intangible assets – Non-refundable upfront, milestone and other licensing payments	$	137	$	174

BMS acquired Amylin Pharmaceuticals, Inc. (Amylin) in August 2012 (see “—Note 4. Acquisitions” for further information). Amylin 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 prior to the acquisition. The transition of non-U.S. operations in a majority of markets was completed in April 2013 terminating Lilly's non-U.S. exclusive right. 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 co-development and co-commercialization 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 continues unchanged through December 2019 under the same terms as the original alliance arrangements described below. In exchange for the rights transferred to Sanofi, BMS receives quarterly royalties from January 1, 2013 until December 31, 2018 and a terminal payment from Sanofi of $200 million at the end of 2018.

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 and were $223 million in 2014 and $220 million in 2013. Development and opt-out royalty income of $143 million in 2012 was included in other (income)/expense. Development royalty expense due Sanofi was $2 million in 2014 and 2013 presented in cost of products sold and $67 million in 2012 presented 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. 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 $90 million in 2014, $116 million in 2013 and $117 million in 2012. The supply arrangement for irbesartan expires in 2015.

Prior to the restructuring, BMS’s worldwide alliance with Sanofi for the co-development and co-commercialization 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 consolidated 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	2014			2013			2012
Revenues from Sanofi alliances:
Net product sales	$	102		$	153		$	2,930
Alliance and other revenues	317			336			120
Total Revenues	$	419		$	489		$	3,050

Payments to/(from) Sanofi:
Cost of product supply	$	2		$	4		$	81
Cost of products sold– Royalties	4			4			530
Equity in net income of affiliates	(146		)	(183		)	(201		)
Other (income)/expense	—			(18		)	(171		)
Noncontrolling interest – pre-tax	38			36			844

Selected Alliance Cash Flow information:
Distributions (to)/from Sanofi - Noncontrolling interest	(49		)	43			(742		)
Distributions from Sanofi - Investment in affiliates	153			149			229

Selected Alliance Balance Sheet information:				December 31,
Dollars in Millions				2014			2013
Investment in affiliates – territory covering Europe and Asia^(a)				$	32		$	43
Noncontrolling interest				38			49


(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	2014		2013		2012
Net sales	$	360	$	395	$	1,077
Gross profit	297		319		453
Net income	$	292	$	313	$	394

Cost of products sold for the territory covering Europe and Asia includes discovery royalties of $32 million in 2014, $38 million in 2013 and $133 million in 2012, which are paid directly to Sanofi. All other expenses are shared based on the applicable ownership percentages. Current assets and current liabilities include approximately $94 million in 2014, $108 million in 2013 and $293 million in 2012 related to receivables/payables attributed to cash distributions to BMS and Sanofi as well as intercompany balances between partnerships within the territory.

Pfizer

BMS and Pfizer Inc. (Pfizer) maintain a worldwide co-development and co-commercialization 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 profits and losses equally on a global basis. In certain countries, Pfizer commercializes Eliquis and pays BMS compensation based on a percentage of net sales.

Upon entering into the agreement, co-exclusive license rights for the product were granted to Pfizer in exchange for an upfront payment and potential milestone payments. Both parties assumed certain obligations to actively participate in the alliance and 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 most countries.

We 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 receive 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 and upfront proceeds and any subsequent contingent milestone proceeds are amortized over the life of the related product.

BMS received $864 million in non-refundable upfront, milestone and other licensing payments related to Eliquis to date. 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	2014			2013			2012
Revenues from Pfizer alliance:
Net product sales	$	771		$	144		$	2
Alliance and other revenues	3			2			—
Total Revenues	$	774		$	146		$	2

Payments to/(from) Pfizer:
Cost of products sold – Profit sharing	$	363		$	69		$	1
Cost reimbursements to/(from) Pfizer	26			4			(11		)
Other (income)/expense – Amortization of deferred income	(50		)	(41		)	(37		)

Selected Alliance Cash Flow information:
Deferred income	100			205			20

Selected Alliance Balance Sheet information:				December 31,
Dollars in Millions				2014			2013
Deferred income				$	611		$	581

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 receives royalties on net sales of the products and exclusively supplies certain of the products to Reckitt 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). In April 2014, the alliance was modified to provide an option to Reckitt to purchase a BMS manufacturing facility located in Mexico primarily dedicated to the products included in the alliance. The options can only be exercised together. Substantially all employees at the facility are expected to be transferred to Reckitt if the option is exercised. 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 and the fair value of the option to purchase the remaining assets 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. A $15 million charge was included in other expenses to increase the fair value of the option to $129 million in 2014. The amount allocated to the rights transferred to Reckitt is amortized as alliance and other revenue over the contractual term.

Summarized financial information related to this alliance was as follows:



	Year Ended December 31,
Dollars in Millions	2014		2013
Revenues from Reckitt alliance:
Alliance and other revenues	$	170	$	116

Selected Alliance Cash Flow Information:
Deferred income	$	—	$	376
Other changes in operating assets and liabilities	20		109



Selected Alliance Balance Sheet information:	December 31,
Dollars in Millions	2014		2013
Deferred income	$	155	$	290

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 exclusively supplies Recothrom to The Medicines Company at cost plus a markup and receives 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 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). The Medicines Company exercised the option and acquired the business for $132 million in February 2015. See "—Note 5. Assets Held-For-Sale” for further information.

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 and the fair value of the option to purchase the remaining assets 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 $35 million at December 31, 2014 and was determined using Level 3 inputs and included in accrued expenses. The amount allocated to the rights transferred to The Medicines Company is amortized as alliance and other revenue over the contractual term.

Summarized financial information related to this alliance was as follows:



	Year Ended December 31,
Dollars in Millions	2014		2013
Revenues from The Medicines Company alliance:
Alliance and other revenues	$	66	$	74

Selected Alliance Cash Flow Information:
Deferred income	$	—	$	80
Other changes in operating assets and liabilities	—		35



Selected Alliance Balance Sheet information:	December 31,
Dollars in Millions	2014		2013
Deferred income	$	3	$	44

Valeant

In October 2012, BMS and PharmaSwiss SA, a wholly-owned subsidiary of Valeant Pharmaceuticals International Inc. (Valeant) entered into an 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. BMS exclusively supplies the products to Valeant 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. Valeant exercised the option and acquired the business for $61 million in January 2015.

Non-refundable upfront proceeds of $79 million received by BMS were allocated to two units of accounting, including the rights transferred to Valeant and the fair value of the option to purchase the remaining assets 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. A $16 million charge was included in other expenses to increase the fair value of the option to $34 million in 2014. The amount allocated to the rights transferred to Valeant is amortized as alliance and other revenue over the contractual term.

Summarized financial information related to this alliance was as follows:



	Year Ended December 31,
Dollars in Millions	2014		2013		2012
Revenues from Valeant alliance:
Net product sales	$	—	$	4	$	5
Alliance and other revenues	44		49		5
Total Revenues	$	44	$	53	$	10

Selected Alliance Cash Flow Information:
Deferred income	$	—	$	—	$	61
Other changes in operating assets and liabilities	16		—		18



Selected Alliance Balance Sheet information:	December 31,
Dollars in Millions	2014		2013
Deferred income	$	—	$	26

Ono

BMS and Ono Pharmaceutical Co., Ltd (Ono) have an alliance agreement to develop and commercialize Opdivo, an anti-PD-1 human monoclonal antibody being investigated as an anti-cancer treatment. BMS has the exclusive right to develop, manufacture and commercialize Opdivo in all territories worldwide except Japan, South Korea and Taiwan (where Ono was responsible for all development and commercialization prior to the amendment discussed below). Ono is entitled to receive royalties following regulatory approvals in all territories excluding the three countries listed above. The royalty rates are 4% in North America and 15% in all other applicable territories.

The alliance agreement was amended in July 2014 to provide for additional collaboration activities in Japan, South Korea and Taiwan pertaining to Opdivo and several other BMS compounds including ipilimumab, lirilumab, urelumab and BMS-986016 (anti-LAG3). Both parties have the right and obligation to jointly develop and commercialize the compounds. BMS is responsible for supply of the product. Profits, losses and development costs are shared equally for all combination therapies involving compounds of both parties. Otherwise, sharing is 80% and 20% for activities involving only one of the party’s compounds.

BMS and Ono also co-develop and co-commercialize Orencia in Japan. BMS is responsible for the order fulfillment and distribution of the intravenous formulation and Ono is responsible for the subcutaneous formulation. Both formulations are jointly promoted by both parties with assigned customer accounts and BMS is responsible for the product supply. A co-promotion fee of 60% is paid to the other party when a sale is made to that party’s assigned customer.

Summarized financial information related to this alliance was as follows:



	Year Ended December 31,
Dollars in Millions	2014			2013			2012
Revenues from Ono alliances:
Net product sales	$	113		$	41		$	—
Alliance and other revenues	28			4			—
Total Revenues	$	141		$	45		$	—

Payments to/(from) Ono:
Cost of products sold:
Co-Promotion Fee	$	20		$	11		$	—

Cost reimbursements to/(from) Ono recognized in:
Research and development	(15		)	(12		)	(11		)

F-Star

In October 2014, BMS entered into an agreement with F-Star Alpha Ltd. (F-Star). The agreement provides BMS with an exclusive option to purchase F-Star Alpha Ltd. and its Phase 1 ready lead asset FS102, a targeted therapy in development for the treatment of breast and gastric cancer among a well-defined population of HER2-positive patients.

BMS paid $50 million to F-Star and its shareholders in 2014 for the option fee and certain licensing rights (included in research and development expenses) and is responsible for conducting and funding the development of FS102. The option is exercisable at BMS's discretion and expires upon the earlier of 60 days following obtaining proof of concept or June 2018. An additional $100 million will be payable upon the exercise of the option plus an additional aggregate consideration of $325 million for contingent development and regulatory approval milestone payments in the U.S. and Europe. BMS is not obligated to provide any additional financial support to F-Star.

F-Star was determined not to be a business as defined in ASC 805 - Business Combinations. As a result, contingent consideration was not included in the purchase price and no goodwill was recognized. However, F-Star is a variable interest entity as its equity holders lack the characteristics of a controlling financial interest. BMS was determined to be the primary beneficiary because of both its power to direct the activities most significantly and directly impacting the economic performance of the entity and its option rights described above. Upon consolidation, noncontrolling interest was credited by $59 million to reflect the fair value of the FS102 IPRD asset ($75 million) and deferred tax liabilities.

ACQUISITIONS

Business Combination Disclosure [Text Block]

ACQUISITIONS

iPierian, Inc. Acquisition

In April 2014, BMS acquired all of the outstanding shares of iPierian, Inc. (iPierian), a biotechnology company focused on new treatments for tauopathies, a class of neurodegenerative diseases. The acquisition provides BMS with full rights to IPN007, a preclinical monoclonal antibody to treat progressive supranuclear palsy and other tauopathies. The consideration includes an upfront payment of $175 million, contingent development and regulatory milestone payments up to $550 million and future royalties on net sales if any of the acquired preclinical assets are approved and commercialized. No significant iPierian processes were acquired, therefore the transaction was accounted for as an asset acquisition because iPierian was determined not to be a business. The upfront payment allocated to IPN007 was $148 million and included in research and development expenses. The remaining $27 million was allocated to deferred tax assets for net operating losses and tax credit carryforwards.

Amylin Pharmaceuticals, Inc. Acquisition

In August 2012, BMS acquired all 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 3. Alliances—AstraZeneca" 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

In February 2012, BMS acquired all 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. For further information discussion of the impairment charge, see “—Note 14. Goodwill and Other Intangible Assets.”

The total consideration transferred and the allocation of the acquisition date fair values of assets acquired and liabilities assumed in the Amylin and Inhibitex acquisitions were as follows:



Dollars in Millions
Identifiable net assets:	Amylin			Inhibitex
Cash	$	179		$	46
Marketable securities	108			17
Inventory	173			—
Property, plant and equipment	742			—
Developed technology rights	6,340			—
IPRD	120			1,875
Other assets	136			—
Debt obligations	(2,020		)	(23		)
Other liabilities	(339		)	(10		)
Deferred income taxes	(1,068		)	(579		)
Total identifiable net assets	4,371			1,326
Goodwill	847			1,213
Total consideration transferred	$	5,218		$	2,539

Cash paid for the acquisition of Amylin included payments of $5.1 billion 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 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 HELD-FOR-SALE

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

ASSETS HELD-FOR-SALE

As discussed in "—Note 3. Alliances", BMS sold its diabetes business to AstraZeneca in February 2014 which previously comprised the global alliance with them. The diabetes 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. Assets held-for-sale at December 31, 2014 are related to alliances with The Medicines Company and Valeant. The allocation of goodwill was based on the relative fair value of the businesses divested to the Company's reporting unit.

The following table provides the assets and liabilities classified as held-for-sale:



Dollars in Millions	December 31, 2014		December 31, 2013
Assets
Receivables	$	—	$	83
Inventories	38		163
Deferred income taxes - current	—		125
Prepaid expenses and other	—		20
Property, plant and equipment	—		678
Goodwill	19		550
Other intangible assets	52		5,682
Other assets	—		119
Assets held-for-sale	$	109	$	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
Liabilities related to assets held-for-sale	$	—	$	4,931

OTHER (INCOME)/EXPENSE

Other Income and Other Expense Disclosure [Text Block]

OTHER (INCOME)/EXPENSE

Other (income)/expense includes:



	Year Ended December 31,
Dollars in Millions	2014			2013			2012
Interest expense	$	203		$	199		$	182
Investment income	(101		)	(104		)	(106		)
Provision for restructuring	163			226			174
Litigation charges/(recoveries)	23			20			(45		)
Equity in net income of affiliates	(107		)	(166		)	(183		)
Out-licensed intangible asset impairment	29			—			38
Gain on sale of product lines, businesses and assets	(564		)	(2		)	(53		)
Other alliance and licensing income	(404		)	(148		)	(312		)
Pension curtailments, settlements and special termination benefits	877			165			158
Other	91			15			67
Other (income)/expense	$	210		$	205		$	(80	)

RESTRUCTURING

Restructuring and Related Activities Disclosure [Text Block]

RESTRUCTURING

The following is the provision for restructuring:



	Year Ended December 31,
Dollars in Millions	2014		2013		2012
Employee termination benefits	$	157	$	211	$	145
Other exit costs	6		15		29
Provision for restructuring	$	163	$	226	$	174

Restructuring charges included employee termination benefits for manufacturing, selling, administrative, and research and development workforce reductions across all geographic regions of approximately 1,387 in 2014, 1,450 in 2013 and 1,205 in 2012. The restructuring actions were primarily related to specialty care transformation initiatives in 2014 designed to create a more simplified organization across all functions and geographic markets, and sales force reductions in several European countries in 2013 following the restructuring of the Sanofi and Otsuka alliance agreements. Subject to local regulations, costs are not recognized until completion of discussions with works councils. Additional costs of $100 million are expected to be incurred for specialty care transformation initiatives in 2015.

The following table represents the activity of employee termination and other exit cost liabilities:



	Year Ended December 31,
Dollars in Millions	2014			2013			2012
Liability at January 1	$	102		$	167		$	77
Charges	155			249			178
Change in estimates	8			(23		)	(4		)
Provision for restructuring	163			226			174
Foreign currency translation	(2		)	4			(1		)
Amylin acquisition	—			—			26
Liabilities related to assets held-for-sale	—			(67		)	—
Spending	(107		)	(228		)	(109		)
Liability at December 31	$	156		$	102		$	167

INCOME TAXES

Income Tax Disclosure [Text Block]

INCOME TAXES

The provision/(benefit) for income taxes consisted of:



	Year Ended December 31,
Dollars in Millions	2014			2013			2012
Current:
U.S.	$	334		$	375		$	627
Non-U.S.	560			427			442
Total Current	894			802			1,069
Deferred:
U.S.	(403		)	(390		)	(1,164		)
Non-U.S	(139		)	(101		)	(66		)
Total Deferred	(542		)	(491		)	(1,230		)
Total Provision/(Benefit)	$	352		$	311		$	(161	)

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	2014					2013					2012
Earnings/(Loss) before income taxes:
U.S.	$	(349	)			$	(135	)			$	(271	)
Non-U.S.	2,730					3,026					2,611
Total	$	2,381				$	2,891				$	2,340
U.S. statutory rate	833			35.0	%	1,012			35.0	%	819			35.0	%
Foreign tax effect of certain operations in Ireland, Puerto Rico and Switzerland	(509		)	(21.4	)%	(620		)	(21.4	)%	(688		)	(29.4	)%
U.S. tax effect of capital losses	(361		)	(15.2	)%	—			—		(392		)	(16.7	)%
U.S. Federal, state and foreign contingent tax matters	228			9.6	%	134			4.6	%	66			2.8	%
U.S. Federal research based credits	(131		)	(5.4	)%	(220		)	(7.6	)%	(31		)	(1.4	)%
Goodwill related to diabetes divestiture	210			8.8	%	—			—		—			—
U.S. Branded Prescription Drug Fee	84			3.5	%	63			2.2	%	90			3.8	%
R&D charge	52			2.2	%	—			—		—			—
State and local taxes (net of valuation allowance)	20			0.8	%	25			0.9	%	20			0.9	%
Foreign and other	(74		)	(3.1	)%	(83		)	(2.9	)%	(45		)	(1.9	)%
	$	352		14.8	%	$	311		10.8	%	$	(161	)	(6.9	)%

The effective tax rate is lower than the U.S. statutory rate of 35% primarily attributable to undistributed earnings of certain foreign subsidiaries that have been considered or are expected to be indefinitely reinvested offshore. U.S. taxes have not been provided on approximately $24 billion of undistributed earnings of foreign subsidiaries as of December 31, 2014. These undistributed earnings primarily relate to operations in Ireland and Puerto Rico, which operate under favorable tax grants not scheduled to expire prior to 2023. If these undistributed earnings are repatriated to the U.S. in the future, or if it were determined that such earnings are to be remitted in the foreseeable future, additional tax provisions would be required. 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. Reforms to U.S. tax laws related to foreign earnings have been proposed and if adopted, may increase taxes, which could reduce the results of operations and cash flows.

The divestiture of the diabetes business resulted in a $361 million capital loss tax benefit from the sale of Amylin shares in 2014. Additional reserves of $123 million were established in 2014 for certain transfer pricing matters related to tax periods from 2008 through 2014. Goodwill allocated to the diabetes business divestiture, U.S. Branded Prescription Drug Fee and the research and development charge from the acquisition of iPierian in 2014 were not deductible for tax purposes. The retroactive reinstatement of the 2012 U.S. Federal research and development credit in 2013 resulted in additional tax credits of $82 million in 2013. The tax insolvency of Inhibitex resulted in a $392 million capital loss tax benefit in 2012. Orphan drug credits are included in the U.S. Federal research based credits for all periods presented.

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	2014			2013
Deferred tax assets
Foreign net operating loss carryforwards	$	3,473		$	3,892
Milestone payments and license fees	440			483
Deferred income	1,163			2,168
U.S. capital loss carryforwards	562			784
U.S. Federal net operating loss carryforwards	135			138
Pension and postretirement benefits	467			120
State net operating loss and credit carryforwards	337			377
Intercompany profit and other inventory items	531			495
U.S. Federal tax credit carryforwards	26			23
Other foreign deferred tax assets	202			187
Share-based compensation	95			107
Legal settlements	14			20
Repatriation of foreign earnings	94			49
Internal transfer of intellectual property	247			223
Other	311			357
Total deferred tax assets	8,097			9,423
Valuation allowance	(4,259		)	(4,623		)
Net deferred tax assets	3,838			4,800

Deferred tax liabilities
Depreciation	(128		)	(148		)
Acquired intangible assets	(390		)	(2,567		)
Other	(832		)	(780		)
Total deferred tax liabilities	(1,350		)	(3,495		)
Deferred tax assets, net	$	2,488		$	1,305

Recognized as:
Assets held-for-sale	$	—		$	125
Deferred income taxes – current	1,644			1,701
Deferred income taxes – non-current	915			508
Income taxes payable – current	(11		)	(10		)
Liabilities related to assets held-for-sale	—			(946		)
Income taxes payable – non-current	(60		)	(73		)
Total	$	2,488		$	1,305

The U.S. Federal net operating loss carryforwards were $386 million at December 31, 2014. 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 $1,564 million can be carried back to 2009 and the carryforward amount expires in various amounts beginning in 2017. The foreign and state net operating loss carryforwards expire in varying amounts beginning in 2015 (certain amounts have unlimited lives).

At December 31, 2014, a valuation allowance of $4,259 million was established for the following items: $3,457 million primarily for foreign net operating loss and tax credit carryforwards, $354 million for state deferred tax assets including net operating loss and tax credit carryforwards, $12 million for U.S. Federal net operating loss carryforwards and $436 million for U.S. Federal and state capital losses.

Changes in the valuation allowance were as follows:



	Year Ended December 31,
Dollars in Millions	2014			2013			2012
Balance at beginning of year	$	4,623		$	4,404		$	3,920
Provision	140			252			494
Utilization	(109		)	(68		)	(145		)
Foreign currency translation	(395		)	40			39
Acquisitions	—			(5		)	96
Balance at end of year	$	4,259		$	4,623		$	4,404

Income tax payments were $544 million in 2014, $478 million in 2013 and $676 million in 2012. The current tax benefit realized as a result of stock related compensation credited to capital in excess of par value of stock was $131 million in 2014, $129 million in 2013 and $71 million in 2012.

Business is conducted in various countries throughout the world and is subject to tax in numerous jurisdictions. A significant number of tax returns that are filed are 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	2014			2013			2012
Balance at beginning of year	$	756		$	642		$	628
Gross additions to tax positions related to current year	106			74			46
Gross additions to tax positions related to prior years	218			108			66
Gross additions to tax positions assumed in acquisitions	—			—			31
Gross reductions to tax positions related to prior years	(57		)	(87		)	(57		)
Settlements	(65		)	26			(54		)
Reductions to tax positions related to lapse of statute	(12		)	(8		)	(19		)
Cumulative translation adjustment	(12		)	1			1
Balance at end of year	$	934		$	756		$	642

Additional information regarding unrecognized tax benefits is as follows:



	Year Ended December 31,
Dollars in Millions	2014			2013		2012
Unrecognized tax benefits that if recognized would impact the effective tax rate	$	668		$	508	$	633
Accrued interest	96			83		59
Accrued penalties	17			34		32
Interest expense	27			24		14
Penalty expense/(benefit)	(7		)	3		16

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.

Effective January 2014, BMS adopted an update from the FASB 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. Non-current deferred tax assets and income tax liabilities were reduced by $236 million upon adoption.

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, 2014 will decrease in the range of approximately $310 million to $370 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. It is reasonably possible that new issues will be raised by tax authorities that may increase 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 2014
Canada		2006 to 2014
France		2012 to 2014
Germany		2007 to 2014
Italy		2003 to 2014
Mexico		2009 to 2014

EARNINGS PER SHARE

Earnings Per Share [Text Block]

EARNINGS PER SHARE



	Year Ended December 31,
Amounts in Millions, Except Per Share Data	2014		2013		2012
Net Earnings Attributable to BMS	$	2,004	$	2,563	$	1,960
Earnings attributable to unvested restricted shares	—		—		(1		)
Net Earnings Attributable to BMS common shareholders	$	2,004	$	2,563	$	1,959

Earnings per share - basic	$	1.21	$	1.56	$	1.17

Weighted-average common shares outstanding - basic	1,657		1,644		1,670
Contingently convertible debt common stock equivalents	1		1		1
Incremental shares attributable to share-based compensation plans	12		17		17
Weighted-average common shares outstanding - diluted	1,670		1,662		1,688

Earnings per share - diluted	$	1.20	$	1.54	$	1.16

Anti-dilutive weighted-average equivalent shares - stock incentive plans	—		—		2

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

Financial Instruments [Text Block]

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 accessible at the measurement date for identical assets or liabilities. The fair value hierarchy provides the highest priority to Level 1 inputs.

Level 2 inputs utilize observable prices for similar instruments, non-binding quoted prices for identical or similar instruments in non-active markets, and other observable inputs 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 using 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 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, 2014. 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 volatility in underlying foreign currencies and underlying interest rates driven by market conditions and the duration of the contract. Credit adjustment volatility may have a significant impact on the valuation of interest rate swap contracts resulting from 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 (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 was estimated utilizing a model that considered the probability of achieving each milestone and discount rates.

Financial assets and liabilities measured at fair value on a recurring basis are summarized below:



	December 31, 2014											December 31, 2013
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	$	—	$	5,051		$	—		$	5,051		$	—	$	3,201		$	—		$	3,201
Marketable securities
Certificates of deposit	—		896			—			896			—		122			—			122
Corporate debt securities	—		5,259			—			5,259			—		4,432			—			4,432
Equity funds	—		94			—			94			—		74			—			74
Fixed income funds	—		11			—			11			—		46			—			46
Auction Rate Securities (ARS)	—		—			12			12			—		—			12			12
Derivative assets:
Interest rate swap contracts	—		46			—			46			—		64			—			64
Foreign currency forward contracts	—		118			—			118			—		50			—			50
Equity investments	36		—			—			36			—		—			—			—
Derivative liabilities:
Interest rate swap contracts	—		(3		)	—			(3		)	—		(27		)	—			(27		)
Foreign currency forward contracts	—		—			—			—			—		(35		)	—			(35		)
Written option liabilities	—		—			(198		)	(198		)	—		—			(162		)	(162		)
Contingent consideration liability	—		—			(8		)	(8		)	—		—			(8		)	(8		)

The following table summarizes the activity the financial assets utilizing Level 3 fair value measurements:



	2014								2013
Dollars in Millions	ARS		Written option liabilities			Contingent consideration liability			ARS and FRS^(a)			Written option liabilities			Contingent consideration liability
Fair value at January 1	$	12	$	(162	)	$	(8	)	$	31		$	(18	)	$	(8	)
Additions from new alliances	—		—			—			—			(144		)	—
Unrealized gains	—		—			—			1			—			—
Sales	—		—			—			(20		)	—			—
Changes in fair value	—		(36		)	—			—			—			—
Fair value at December 31	$	12	$	(198	)	$	(8	)	$	12		$	(162	)	$	(8	)


(a)	Floating Rate Securities

Available-for-sale Securities

The following table summarizes available-for-sale securities:



Dollars in Millions	Amortized Cost		Gross Unrealized Gain in Accumulated OCI		Gross Unrealized Loss in Accumulated OCI			Fair Value
Dollars in Millions	Amortized Cost		Gross Unrealized Gain in Accumulated OCI		Gross Unrealized Loss in Accumulated OCI			Fair Value
December 31, 2014
Certificates of deposit	$	896	$	—	$	—		$	896
Corporate debt securities	5,237		30		(8		)	5,259
ARS	9		3		—			12
Equity investments	14		22		—			36
Total	$	6,156	$	55	$	(8	)	$	6,203

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

Available-for-sale securities included in current marketable securities were $1,759 million at December 31, 2014 and $819 million at December 31, 2013. Non-current available-for-sale corporate debt securities mature within five years at December 31, 2014, except for ARS. Equity investments of $36 million were included in other assets at December 31, 2014.

Fair Value Option for Financial Assets

Investments in equity and fixed income funds offsetting changes in fair value of certain employee retirement benefits were included in current marketable securities. Investment income resulting from changes in fair value was not significant.

Qualifying Hedges

The following summarizes the fair value of outstanding derivatives:



		December 31, 2014					December 31, 2013
Dollars in Millions	Balance Sheet Location	Notional		Fair Value			Notional		Fair Value
Derivatives designated as hedging instruments:
Interest rate swap contracts	Other assets	$	847	$	46		$	673	$	64
Interest rate swap contracts	Other liabilities	1,050		(3		)	1,950		(27		)
Foreign currency forward contracts	Prepaid expenses and other	1,323		106			301		44
Foreign currency forward contracts	Other assets	100		12			100		6
Foreign currency forward contracts	Accrued expenses	—		—			704		(31		)
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. The contracts are designated as cash flow hedges with the effective portion of changes in fair value reported in accumulated OCI and recognized in earnings when the hedged item affects earnings. The net gains are expected to be reclassified to cost of products sold within the next two years. The notional amount of outstanding foreign currency forward contracts was primarily attributed to the euro ($536 million) and Japanese yen ($636 million) at December 31, 2014. The fair value of a foreign currency forward contract attributed to the Japanese yen (notional amount of $330 million) not designated as a cash flow hedge was $7 million and was included in prepaid expenses and other at December 31, 2014.

Cash flow hedge accounting is discontinued when the forecasted transaction is no longer probable of occurring within 60 days after the originally forecasted date 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. 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 ($662 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 used as an interest rate risk management strategy to create an appropriate balance of fixed and floating rate debt. The contracts and underlying debt for the hedged benchmark risk are recorded at fair value. The effective interest rate for the contracts is one-month LIBOR (0.17% as of December 31, 2014) plus an interest rate spread ranging from (0.8)% to 2.9%. When the underlying swap is terminated prior to maturity, the fair value basis adjustment to the underlying debt instrument is amortized as a reduction to interest expense over the remaining life of the debt.

The notional amount of fixed-to-floating interest rate swap contracts executed was $200 million in 2014 and $2.1 billion in 2013. The notional amount of fixed-to-floating interest rate swap contracts terminated was $426 million in 2014, generating proceeds of $119 million (including accrued interest of $10 million). Additional contracts were terminated in connection with debt redemptions in 2014 and 2012.

Debt Obligations

Short-term borrowings were $590 million and $359 million at December 31, 2014 and 2013, respectively, consisting primarily of bank overdrafts.

Long-term debt and the current portion of long-term debt includes:



	December 31,
Dollars in Millions	2014			2013
Principal Value:
4.375% Euro Notes due 2016	$	611		$	684
0.875% Notes due 2017	750			750
5.450% Notes due 2018	—			582
1.750% Notes due 2019	500			500
4.625% Euro Notes due 2021	611			684
2.000% Notes due 2022	750			750
7.150% Debentures due 2023	304			304
3.250% Notes due 2023	500			500
6.800% 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			500
6.880% Debentures due 2097	260			260
0% - 5.75% Other - maturing 2016 - 2030	83			144
Subtotal	6,804			7,593

Adjustments to Principal Value:
Fair value of interest rate swap contracts	43			37
Unamortized basis adjustment from swap terminations	454			442
Unamortized bond discounts	(59		)	(64		)
Total	$	7,242		$	8,008

Current portion of long-term debt^(a)	$	—		$	27
Long-term debt	7,242			7,981


(a)	Included in liabilities related to assets held-for-sale at December 31, 2013.

The fair value of long-term debt was $8,045 million and $8,487 million at December 31, 2014 and 2013, 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.

Floating Rate Convertible Senior Debentures of $18 million due 2023 are redeemable by the holders at par on September 15, 2018 or if a fundamental change in ownership occurs and are callable at par at any time by BMS. 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.

Senior unsecured notes issued in registered public offerings were $1.5 billion in 2013 and $2.0 billion in 2012. 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 and are redeemable by BMS in whole or in part, at any time at a predetermined redemption price.

The 5.25% Notes with a principal amount of $597 million matured and was repaid in 2013. Substantially all of the $2.0 billion debt obligations assumed in the acquisition of Amylin were repaid in 2012, including a promissory note with Lilly with respect to a revenue sharing obligation and Amylin senior notes due 2014.

There were no debt redemptions in 2013. Debt redemption activity for 2014 and 2012, including repayment of the Amylin debt obligations, was as follows:



Dollars in Millions	2014			2012
Principal amount	$	582		$	2,052
Carrying value	633			2,081
Redemption price	676			2,108
Notional amount of interest rate swap contracts terminated	500			6
Swap termination proceeds/(payments)	(4		)	2
Total loss	45			27

Interest payments were $238 million in 2014, $268 million in 2013 and $241 million in 2012 net of amounts received from interest rate swap contracts.

Two separate $1.5 billion five-year revolving credit facilities are maintained 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, 2014 or 2013.

Financial guarantees provided in the form of stand-by letters of credit and performance bonds were $725 million at December 31, 2014. Stand-by letters of credit are issued through financial institutions in support of guarantees for various obligations. Performance bonds are 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 [Text Block]

RECEIVABLES



	December 31,
Dollars in Millions	2014			2013
Trade receivables	$	2,193		$	1,779
Less allowances	(93		)	(89		)
Net trade receivables	2,100			1,690
Alliance partners receivables	888			1,122
Prepaid and refundable income taxes	178			262
Miscellaneous receivables	224			286
Receivables	$	3,390		$	3,360

Non-U.S. receivables sold on a nonrecourse basis were $812 million in 2014, $1,031 million in 2013, and $956 million in 2012. In the aggregate, receivables from three pharmaceutical wholesalers in the U.S. represented 36% and 40% of total trade receivables at December 31, 2014 and 2013, respectively.

Changes to the allowances for bad debt, charge-backs and cash discounts were as follows:



	Year Ended December 31,
Dollars in Millions	2014			2013			2012
Balance at beginning of year	$	89		$	104		$	147
Provision	773			720			832
Utilization	(769		)	(731		)	(875		)
Assets held-for-sale	—			(4		)	—
Balance at end of year	$	93		$	89		$	104

INVENTORIES

Inventories [Text Block]

INVENTORIES



	December 31,
Dollars in Millions	2014		2013
Finished goods	$	500	$	491
Work in process	856		757
Raw and packaging materials	204		250
Inventories	$	1,560	$	1,498

Inventories expected to remain on-hand beyond one year were $232 million at December 31, 2014 and $351 million at December 31, 2013 and included in other assets.

PROPERTY, PLANT AND EQUIPMENT

Property, Plant and Equipment [Text Block]

PROPERTY, PLANT AND EQUIPMENT



	December 31,
Dollars in Millions	2014			2013
Land	$	109		$	109
Buildings	4,830			4,748
Machinery, equipment and fixtures	3,774			3,699
Construction in progress	353			287
Gross property, plant and equipment	9,066			8,843
Less accumulated depreciation	(4,649		)	(4,264		)
Property, plant and equipment	$	4,417		$	4,579

Property, plant and equipment related to the Mount Vernon, Indiana manufacturing facility was approximately $235 million as of December 31, 2014. The facility is expected to be sold in 2015. It was not included in assets held-for-sale for both periods because the assets were not available for immediate sale in their present condition. See "—Note 3. Alliances” for further discussion on the sale of the diabetes business. Depreciation expense was $543 million in 2014, $453 million in 2013 and $382 million in 2012.

GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill and Intangible Assets Disclosure [Text Block]

GOODWILL AND OTHER INTANGIBLE ASSETS



		December 31,
Dollars in Millions	Estimated Useful Lives	2014		2013
Goodwill		7,027		7,096

Other intangible assets:
Licenses	5 – 15 years	1,090		1,162
Developed technology rights	9 – 15 years	2,358		2,486
Capitalized software	3 – 10 years	1,254		1,240
In-process research and development (IPRD)		280		548
Gross other intangible assets		4,982		5,436
Less accumulated amortization		(3,229	)	(3,118	)
Total other intangible assets		1,753		2,318

Goodwill of $600 million was allocated to the sale of the diabetes business in 2014, including $550 million presented in assets held-for-sale at December 31, 2013. See“—Note 5. Assets Held-For-Sale” for further discussion. Amortization expense was $286 million in 2014, $858 million in 2013 and $607 million in 2012. Future annual amortization expense of other intangible assets is expected to be approximately $220 million in 2015, $210 million in 2016, $200 million in 2017, $150 million in 2018, $110 million in 2019 and $583 million thereafter. Other intangible asset impairment charges were $380 million in 2014, none in 2013 and $2.1 billion in 2012.

A $310 million IPRD impairment charge was recognized in 2014 for peginterferon lambda which was in Phase III development for treatment of hepatitis C virus (HCV). The full write-off was required after assessing the potential commercial viability of the asset and estimating its fair value. The assessment considered the lower likelihood of filing for registration in certain markets after completing revised projections of revenues and expenses. A significant decline from prior projected revenues resulted from the global introduction of oral non-interferon products being used to treat patients with HCV and no other alternative uses for the product.

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 HCV 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 $1.8 billion pre-tax impairment charge was recognized in 2012. An impairment charge of $120 million was also 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 [Text Block]

ACCRUED EXPENSES



	December 31,
Dollars in Millions	2014		2013
Employee compensation and benefits	$	892	$	735
Royalties	213		173
Accrued research and development	445		380
Restructuring - current	128		73
Pension and postretirement benefits	47		47
Accrued litigation	43		65
Other	691		679
Total accrued expenses	$	2,459	$	2,152

SALES REBATES AND RETURN ACCRUALS

Sales Rebates And Return Accruals [Text Block]

SALES REBATES AND RETURN ACCRUALS

Reductions to trade receivables and accrued rebates and returns liabilities are as follows:



	December 31,
Dollars in Millions	2014		2013
Charge-backs related to government programs	$	41	$	37
Cash discounts	15		12
Reductions to trade receivables	$	56	$	49

Managed healthcare rebates and other contract discounts	$	148	$	147
Medicaid rebates	193		227
Sales returns	232		279
Other adjustments	278		236
Accrued rebates and returns	$	851	$	889

DEFERRED INCOME

Deferred Income [Text Block]

DEFERRED INCOME



	December 31,
Dollars in Millions	2014		2013
Alliances (Note 3)	$	1,493	$	1,418
Gain on sale-leaseback transactions	45		71
Other	399		36
Total deferred income	$	1,937	$	1,525

Current portion	$	1,167	$	756
Non-current portion	770		769

Alliances include unamortized amounts for upfront, milestone and other licensing proceeds, revenue deferrals attributed to the Gilead alliance and undelivered elements from the diabetes business divestiture. Upfront, milestone and other licensing proceeds are amortized over the shorter of the contractual rights period or the expected life of the product. Deferred gains on sale-leaseback transactions are amortized over the remaining lease terms of the related facilities through 2018. Other deferrals include approximately $300 million invoiced for a product under an early access program in the EU. A portion of this amount will be recognized as revenue, subject to final price negotiations with the local government. Amortization of deferred income was $362 million in 2014, $548 million in 2013 and $308 million in 2012.

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

Stockholders' Equity Note Disclosure [Text Block]

EQUITY



	Common Stock			Capital in Excess of Par Value of Stock			Retained Earnings			Treasury Stock					Noncontrolling Interest
Dollars and Shares in Millions	Shares	Par Value		Capital in Excess of Par Value of Stock			Retained Earnings			Shares		Cost			Noncontrolling Interest
Balance at January 1, 2012	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
Net earnings	—	—		—			2,004			—		—			39
Cash dividends declared	—	—		—			(2,415		)	—		—			—
Employee stock compensation plans	—	—		(393		)	—			(11	)	755			—
Debt conversion	—	—		(22		)	—			(1	)	53			—
Variable interest entity	—	—		—			—			—		—			59
Distributions	—	—		—			—			—		—			(49		)
Balance at December 31, 2014	2,208	$	221	$	1,507		$	32,541		547		$	(16,992	)	$	131

Treasury stock is recognized at the cost to reacquire the shares. Shares issued from treasury are recognized utilizing the first-in first-out method.

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 $22 million in 2014, $20 million in 2013 and $317 million in 2012 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
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
2014
Derivatives qualifying as cash flow hedges:^(a)
Unrealized gains	$	139		$	(45	)	$	94
Reclassified to net earnings	(41		)	16			(25		)
Derivatives qualifying as cash flow hedges	98			(29		)	69
Pension and other postretirement benefits:
Actuarial losses	(1,414		)	464			(950		)
Amortization^(b)	104			(37		)	67
Settlements and curtailments^(c)	867			(308		)	559
Pension and other postretirement benefits	(443		)	119			(324		)
Available-for-sale securities:
Unrealized gains	10			(6		)	4
Realized gains^(d)	(1		)	—			(1		)
Available-for-sale securities	9			(6		)	3
Foreign currency translation	(8		)	(24		)	(32		)
	$	(344	)	$	60		$	(284	)


(a)	Reclassifications to net earnings of derivatives qualifying as effective hedges are recognized in costs of products sold.


(b)	Actuarial gains/(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 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	2014			2013
Derivatives qualifying as cash flow hedges	$	85		$	16
Pension and other postretirement benefits	(2,181		)	(1,857		)
Available-for-sale securities	31			28
Foreign currency translation	(360		)	(328		)
Accumulated other comprehensive loss	$	(2,425	)	$	(2,141	)

PENSION AND POSTRETIREMENT BENEFIT PLANS

Pension and Other Postretirement Benefits Disclosure [Text Block]

PENSION, POSTRETIREMENT AND POSTEMPLOYMENT LIABILITIES

BMS sponsors 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, covering most U.S. employees and representing approximately 65% of the consolidated pension plan assets and 61% of the obligations. BMS contributes 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 electing 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.

The net periodic benefit cost/(credit) of defined benefit pension and postretirement benefit plans includes:



	Pension Benefits									Other Benefits
Dollars in Millions	2014			2013			2012			2014			2013			2012
Service cost — benefits earned during the year	$	34		$	38		$	32		$	4		$	8		$	8
Interest cost on projected benefit obligation	305			302			319			14			13			22
Expected return on plan assets	(508		)	(519		)	(508		)	(27		)	(26		)	(25		)
Amortization of prior service credits	(3		)	(4		)	(3		)	(1		)	(2		)	(2		)
Amortization of net actuarial (gain)/loss	110			134			129			(2		)	1			10
Curtailments	1			—			(1		)	(4		)	—			—
Settlements	866			165			160			—			—			—
Special termination benefits	14			—			—			—			—			—
Net periodic benefit cost/(credit)	$	819		$	116		$	128		$	(16	)	$	(6	)	$	13

In September 2014, BMS and Fiduciary Counselors Inc., as an independent fiduciary of the Bristol-Myers Squibb Company Retirement Income Plan, entered into a definitive agreement to transfer certain U.S. pension assets to The Prudential Insurance Company of America (Prudential) to settle approximately $1.5 billion of pension obligations. BMS purchased a group annuity contract from Prudential in December 2014, who irrevocably assumed the obligation to make future annuity payments to certain BMS retirees. The transaction will not change the amount of the monthly pension benefit received by affected retirees and surviving beneficiaries and resulted in a pre-tax settlement charge of $713 million. Pension settlement charges were also 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 2014, 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	2014			2013			2014			2013
Benefit obligations at beginning of year	$	7,233		$	8,200		$	404		$	460
Service cost—benefits earned during the year	34			38			4			8
Interest cost	305			302			14			13
Plan participants’ contributions	2			2			22			23
Curtailments	(27		)	—			(3		)	—
Settlements	(1,774		)	(350		)	—			—
Plan amendments	(2		)	(1		)	(7		)	—
Actuarial (gains)/losses	1,673			(761		)	28			(43		)
Retiree Drug Subsidy	—			—			6			6
Benefits paid	(216		)	(206		)	(62		)	(63		)
Exchange rate (gains)/losses	(160		)	9			(4		)	—
Benefit obligations at end of year	$	7,068		$	7,233		$	402		$	404

Fair value of plan assets at beginning of year	$	7,406		$	6,542		$	347		$	311
Actual return on plan assets	750			1,154			36			61
Employer contributions	124			251			8			9
Plan participants’ contributions	2			2			22			23
Settlements	(1,774		)	(350		)	—			—
Retiree Drug Subsidy	—			—			6			6
Benefits paid	(216		)	(206		)	(62		)	(63		)
Exchange rate gains/(losses)	(144		)	13			—			—
Fair value of plan assets at end of year	$	6,148		$	7,406		$	357		$	347

Funded status	$	(920	)	$	173		$	(45	)	$	(57	)

Assets/(Liabilities) recognized:
Other assets	$	40		$	731		$	91		$	87
Accrued expenses	(36		)	(35		)	(11		)	(12		)
Pension and other postretirement liabilities	(924		)	(523		)	(125		)	(132		)
Funded status	$	(920	)	$	173		$	(45	)	$	(57	)

Recognized in accumulated other comprehensive loss:
Net actuarial (gains)/losses	$	3,304		$	2,878		$	(24	)	$	(44	)
Prior service credit	(40		)	(41		)	(9		)	(4		)
Total	$	3,264		$	2,837		$	(33	)	$	(48	)

The accumulated benefit obligation for all defined benefit pension plans was $7,001 million and $7,125 million at December 31, 2014 and 2013, respectively.

Additional information related to pension plans was as follows:



Dollars in Millions	2014		2013
Pension plans with projected benefit obligations in excess of plan assets:
Projected benefit obligation	$	5,877	$	1,291
Fair value of plan assets	4,917		732
Pension plans with accumulated benefit obligations in excess of plan assets:
Accumulated benefit obligation	$	5,731	$	1,101
Fair value of plan assets	4,823		608

Actuarial Assumptions

Weighted-average assumptions used to determine benefit obligations at December 31 were as follows:



	Pension Benefits				Other Benefits
	2014		2013		2014		2013
Discount rate	3.6	%	4.4	%	3.4	%	3.8	%
Rate of compensation increase	0.8	%	2.3	%	2.0	%	2.1	%

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
	2014		2013		2012		2014		2013		2012
Discount rate	4.2	%	4.1	%	4.4	%	3.7	%	3.0	%	4.1	%
Expected long-term return on plan assets	7.6	%	8.0	%	8.2	%	8.3	%	8.8	%	8.8	%
Rate of compensation increase	2.3	%	2.3	%	2.3	%	2.1	%	2.1	%	2.0	%

The yield on high quality corporate bonds matching 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.

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 $300 million at December 31, 2014. Differences between assumed and actual returns are amortized to the market-related value on a straight-line basis over a three-year period. 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:



	2014		2013		2012
10 years	7.9	%	8.0	%	8.5	%
15 years	6.4	%	6.8	%	6.5	%
20 years	9.3	%	8.8	%	8.5	%

Actuarial gains and losses resulted from changes in actuarial assumptions (such as changes in the discount rate and revised mortality rates) and from differences between assumed and actual experience (such as differences between actual and expected return on plan assets). Gains and losses are amortized over the life expectancy of the plan participants for U.S. plans (37 years in 2015) and expected remaining service periods for most other plans to the extent they exceed 10% of the higher of the market-related value or the projected benefit obligation for each respective plan. The amortization of net actuarial loss and prior service credit is expected to be approximately $93 million in 2015. The periodic benefit cost or credit is included in cost of products sold, research and development, and marketing, selling and administrative expenses, except for curtailments, settlements and other special termination benefits which are included other expenses.

Assumed healthcare cost trend rates at December 31 were as follows:



	2014		2013		2012
Healthcare cost trend rate assumed for next year	6.0	%	6.4	%	6.8	%
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	2018		2019		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, 2014 and 2013 was as follows:



	December 31, 2014								December 31, 2013
Dollars in Millions	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Equity Securities	$	1,115	$	—	$	—	$	1,115	$	1,804	$	—	$	—	$	1,804
Equity Funds	446		1,113		—		1,559		534		1,679		—		2,213
Fixed Income Funds	340		777		—		1,117		238		657		—		895
Corporate Debt Securities	—		1,481		—		1,481		—		1,410		—		1,410
Venture Capital and Limited Partnerships	—		—		327		327		—		—		369		369
Government Mortgage Backed Securities	—		7		—		7		—		1		—		1
U.S. Treasury and Agency Securities	—		557		—		557		—		514		—		514
Short-Term Investment Funds	—		63		—		63		—		122		—		122
Insurance Contracts	—		—		119		119		—		—		142		142
Event Driven Hedge Funds	—		71		—		71		—		122		—		122
State and Municipal Bonds	—		9		—		9		—		24		—		24
Real Estate	4		—		—		4		4		—		—		4
Cash and Cash Equivalents	76		—		—		76		133		—		—		133
Total plan assets at fair value	$	1,981	$	4,078	$	446	$	6,505	$	2,713	$	4,529	$	511	$	7,753

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, 2014. Corporate debt securities, government mortgage 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.

The following summarizes the activity for financial assets utilizing Level 3 fair value measurements:



Dollars in Millions	Venture Capital and Limited Partnerships			Insurance Contracts			Other			Total
Fair value at January 1, 2013	$	381		$	132		$	23		$	536
Purchases, sales and settlements, net	(91		)	(4		)	(23		)	(118		)
Realized gains/(losses)	48			5			—			53
Unrealized gains/(losses)	31			9			—			40
Fair value at December 31, 2013	369			142			—			511
Purchases, sales and settlements, net	(88		)	(15		)	—			(103		)
Realized gains/(losses)	61			(15		)	—			46
Unrealized gains/(losses)	(15		)	7			—			(8		)
Fair value at December 31, 2014	$	327		$	119		$	—		$	446

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 43% public equity (16% U.S. and 16% international and 11% global), 7% private equity and 50% long-duration fixed income is maintained for the U.S. pension plans. Investments are diversified within each of the three major asset categories. Approximately 98% 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, 2014 and 2013.

Contributions and Estimated Future Benefit Payments

Contributions to pension plans were $124 million in 2014, $251 million in 2013 and $396 million in 2012 and are expected to be approximately $100 million in 2015. Estimated annual future benefit payments (including lump sum payments) range from $300 million to $400 million in each of the next five years, and aggregate $1.7 billion in the subsequent five year period.

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 2014, 2013 and 2012.

EMPLOYEE STOCK BENEFIT PLANS

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

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 250 million at December 31, 2014. Shares available to be granted for the active plans were 112 million at December 31, 2014. Shares are issued from treasury stock. 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. 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. The Company has not granted any stock options or stock appreciation rights since 2009.

Common stock or stock units may be granted to key employees, subject to restrictions as to continuous employment. Generally, vesting occurs ratably over a four year period from grant date. 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 are granted to executives. Vesting is conditioned upon continuous employment until the vesting date and payout factor is 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.

Performance share units are granted to executives and have a three year cycle and are granted as a target number of units subject to adjustment based on company performance. Shares ultimately issued for awards granted prior to 2014 are 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. Shares ultimately issued for awards granted in 2014 are based on the actual performance compared to earnings target and other performance criteria established for 2014 and a subsequent adjustment for the Company's three-year total shareholder return relative to a peer group of companies. Vesting occurs on the third anniversary of the grant date.

Stock-based compensation expense for awards ultimately expected to vest 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. Other information related to stock-based compensation benefits are as follows:



	Years Ended December 31,
Dollars in Millions	2014		2013		2012
Stock options	$	—	$	2	$	7
Restricted stock units	75		74		64
Market share units	34		29		23
Performance share units	104		86		60
Amylin stock options and restricted stock units (see Note 4)	—		—		94
Total stock-based compensation expense	$	213	$	191	$	248

Income tax benefit	$	71	$	64	$	82



	Stock Options				Restricted Stock Units				Market Share Units				Performance share units
	Number of Options Outstanding		Weighted- Average Exercise Price of Shares		Number of Nonvested Awards		Weighted- Average Grant-Date Fair Value		Number of Nonvested Awards		Weighted- Average Grant-Date Fair Value		Number of Nonvested Awards		Weighted- Average Grant-Date Fair Value
Shares in Thousands	Number of Options Outstanding		Weighted- Average Exercise Price of Shares		Number of Nonvested Awards		Weighted- Average Grant-Date Fair Value		Number of Nonvested Awards		Weighted- Average Grant-Date Fair Value		Number of Nonvested Awards		Weighted- Average Grant-Date Fair Value
Balance at January 1, 2014	23,123		$	22.88	6,552		$	32.81	1,832		$	33.82	4,292		$	33.75
Granted	—		—		1,903		52.22		886		55.44		2,288		55.17
Released/Exercised	(6,635	)	23.68		(2,474	)	27.51		(1,674	)	29.32		(2,743	)	32.80
Adjustments for actual payout	—		—		—		—		1,212		27.40		(120	)	33.08
Forfeited/Canceled	(911	)	27.25		(734	)	23.75		(295	)	40.34		(298	)	53.68
Balance at December 31, 2014	15,577		22.29		5,247		43.61		1,961		42.47		3,419		47.12

Vested or expected to vest	15,577		22.29		4,847		43.61		1,812		42.47		3,159		47.12



	Restricted		Market		Performance
Dollars in Millions	Stock Units		Share Units		Share Units
Unrecognized compensation cost	$	152	$	36	$	88
Expected weighted-average period in years of compensation cost to be recognized	2.6		2.6		1.7



Amounts in Millions, except per share data	2014		2013		2012
Weighted-average grant date fair value (per share):
Restricted stock units	$	52.22	$	38.73	$	32.71
Market share units	55.44		37.40		31.85
Performance share units	55.17		37.40		32.33

Fair value of options or awards that vested during the year:
Stock options	$	—	$	11	$	23
Restricted stock units	68		74		74
Market share units	49		30		18
Performance share units	90		90		56

Total intrinsic value of stock options exercised during the year	$	199	$	323	$	153

The fair value of awards approximates the closing trading price of BMS's common stock on the grant date. The fair value of market share units also considers the payout formula and probability of satisfying market conditions.

The following table summarizes significant ranges of outstanding and exercisable options at December 31, 2014 (amounts in millions, except per share data):



	Options Outstanding and Exercisable
Range of Exercise Prices	Number Outstanding and Exercisable (in thousands)	Weighted-Average Remaining Contractual Life (in years)	Weighted-Average Exercise Price Per Share		Aggregate Intrinsic Value
$1 - $20	4,886	4.17	$	17.53	$	203
$20 - $30	10,691	1.97	24.46		369
	15,577	2.66	$	22.29	$	572

The aggregate intrinsic value in the preceding table represents the total pre-tax intrinsic value, based on the closing stock price of $59.03 on December 31, 2014.

LEASES

Leases of Lessee Disclosure [Text Block]

LEASES

Annual minimum rental commitments for non-cancelable operating leases (primarily real estate and motor vehicles) are approximately $100 million in each of the next five years and an aggregate $100 million thereafter. Operating lease expenses were $137 million in 2014, $144 million in 2013 and $142 million in 2012. Sublease income was not material for all periods presented.

LEGAL PROCEEDINGS AND CONTINGENCIES

Legal Matters and Contingencies [Text Block]

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

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 in June 2014 the U.S. Court of Appeals for the Federal Circuit (Federal Court of Appeals) denied the Company's appeal. In July 2014, the Company filed a petition for an en banc rehearing by the entire Federal Court of Appeals which was denied in October 2014. In January 2015, the Company filed a petition for a writ of certiorari with the U.S. Supreme Court requesting that the court hear an appeal of the Federal Court of Appeals decision. In September 2014, Teva received final approval from the FDA for its generic version of entecavir and launched its product in the U.S. We have experienced a rapid and significant negative impact on U.S. net product sales of Baraclude beginning in the fourth quarter of 2014. U.S. net product sales of Baraclude were $215 million in 2014.

Baraclude — South Korea

In 2013, Daewoong Pharmaceutical Co. Ltd. and Hanmi Pharmaceuticals Co., Ltd. initiated separate invalidity actions in the Korean Intellectual Property Office 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. In January 2015, the Korean Intellectual Property Tribunal ruled that the '523 patent is valid. There still remains a risk that generic companies will continue to challenge the validity of the '523 patent and/or launch generic versions of Baraclude prior to October 2015. Net product sales of Baraclude in South Korea were $158 million in 2014.

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. The Company and Apotex have settled the Apotex case and the case has been dismissed. The Australian government's claim is still pending. 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 the Supreme Court of Canada was scheduled to hear the case in November 2014. The Company and Apotex have settled and the case has been dismissed, thus concluding the matter.

GENERAL COMMERCIAL LITIGATION

Remaining Apotex Matter Related to Plavix*

As previously disclosed, 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 and Apotex appealed the decision. The Company and Apotex have settled and Apotex has withdrawn its appeal, thus concluding the matter.

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.

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. In June 2014, the Pennsylvania Supreme Court vacated the Commonwealth judge's decision and remanded the matter back to the Commonwealth Court. In January 2015, the Commonwealth Court entered judgment in favor of the Company. It is possible that the Commonwealth of Pennsylvania could appeal this decision.

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.

Plavix* State Attorneys General Lawsuits

The Company and certain affiliates of Sanofi are defendants in consumer protection and/or false advertising actions brought by several states relating to the sales and promotion of Plavix*. It is not possible at this time to reasonably assess the outcome of these lawsuits or their potential 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 5,500 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.

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 430 separate lawsuits pending on behalf of over 1,900 active plaintiffs (including pending settlements), 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 510 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 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.

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 $62 million at December 31, 2014, 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 300 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 200 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 500 cases between the state and federal court actions. In June 2014, the Company and the plaintiffs agreed to a settlement, which was finalized in December 2014. This concludes the matter.

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. In addition, in September 2009, the Township and BOE filed suits against several other parties alleged to have contributed waste materials to the site; that litigation has now been settled by the parties. 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 issued in connection with its investigation under the FCPA, primarily relating to sales and marketing practices in various countries. The Company is cooperating with the SEC, along with the Department of Justice, in its investigation of these matters. In particular, the Company is investigating certain sales and marketing practices in China. It is not possible at this time to assess the outcome of these matters or their potential impact on the Company.

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

Quarterly Financial Information [Text Block]

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)



Dollars in Millions, except per share data	First Quarter			Second Quarter			Third Quarter		Fourth Quarter		Year
2014
Total Revenues	$	3,811		$	3,889		$	3,921	$	4,258	$	15,879
Gross Margin	2,843			2,898			2,914		3,292		11,947
Net Earnings	936			334			732		27		2,029
Net Earnings/(Loss) Attributable to:
Noncontrolling Interest	(1		)	1			11		14		25
BMS	937			333			721		13		2,004

Earnings per Share - Basic^(a)	$	0.57		$	0.20		$	0.43	$	0.01	$	1.21
Earnings per Share - Diluted^(a)	0.56			0.20			0.43		0.01		1.20

Cash dividends declared per common share	$	0.36		$	0.36		$	0.36	$	0.37	$	1.45

Cash and cash equivalents	$	5,225		$	4,282		$	4,851	$	5,571	$	5,571
Marketable securities^(b)	5,392			6,769			6,698		6,272		6,272
Total Assets	33,424			33,503			33,450		33,749		33,749
Long-term debt	7,367			7,372			7,267		7,242		7,242
Equity	15,531			15,379			15,201		14,983		14,983

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^(a)	$	0.37		$	0.33		$	0.42	$	0.44	$	1.56
Earnings per Share - Diluted^(a)	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^(b)	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^(c)	7,180			7,122			6,562		7,981		7,981
Equity	13,699			14,373			14,714		15,236		15,236



(a)	Earnings per share for the quarters may not add to the amounts for the year, as each period is computed on a discrete basis.
(b)	Marketable securities includes current and non-current assets.
(c)	Also includes the current portion of long-term debt.

The following specified items affected the comparability of results in 2014 and 2013:

2014



Dollars in Millions	First Quarter			Second Quarter				Third Quarter			Fourth Quarter			Year
Cost of products sold^(a)	45			39				36			31			151

Additional year of Branded Prescription Drug Fee	—			—				96			—			96
Process standardization implementation costs	3			3				2			1			9
Marketing, selling and administrative	3			3				98			1			105

Upfront, milestone and other payments	15			148				65			50			278
IPRD impairments	33			310				—			—			343
Research and development	48			458				65			50			621

Provision for restructuring	21			16				35			91			163
Gain on sale of product lines, businesses and assets	(259		)	12				(315		)	3			(559		)
Pension curtailments, settlements and special termination benefits	64			45				28			740			877
Acquisition and alliance related items^(b)	16			17				39			—			72
Litigation charges/(recoveries)	25			(23		)		10			15			27
Loss on debt redemption	45			—				—			—			45
Out-licensed intangible asset impairment	—			—				—			11			11
Upfront, milestone and other licensing receipts	—			—			—	—			(10		)	(10		)
Other (income)/expense	(88		)	67				(203		)	850			626

Increase/(decrease) to pretax income	8			567				(4		)	932			1,503

Income tax on items above	(179		)	(102		)		33			(297		)	(545		)
Specified tax charge^(c)	—			—				—			123			123
Income taxes	(179		)	(102		)		33			(174		)	(422		)
Increase/(decrease) to net earnings	$	(171	)	$	465			$	29		$	758		$	1,081



(a)	Specified items in cost of products sold are accelerated depreciation, asset impairment and other shutdown costs.
(b)	Includes $16 million of additional year of Branded Prescription Drug Fee in the third quarter.
(c)	Specified tax charge relates to transfer pricing matters.

2013



Dollars in Millions	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Year
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 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.

ACCOUNTING POLICIES (Policies)

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 and all of its controlled majority-owned subsidiaries and certain variable interest entities (which may be referred to as Bristol-Myers Squibb, BMS, or the Company). 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 and are consolidated when BMS has both the power to direct the activities of the variable interest entity that most significantly impacts its economic performance and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the entity.

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; estimated selling prices used in multiple element arrangements; 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.

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” utilizing 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 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 2014 include our share price, 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. Estimating the impact of restructuring plans, including future termination benefits and other exit costs requires judgment. 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 $115 million in 2014, $119 million in 2013 and $125 million in 2012.

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 April 2014, the Financial Accounting Standards Board (FASB) issued amended guidance on the use and presentation of discontinued operations in an entity's consolidated financial statements. The new guidance restricts the presentation of discontinued operations to business circumstances when the disposal of business operations represents a strategic shift that has or will have a major effect on an entity's operations and financial results. The guidance becomes effective on January 1, 2015. Adoption is on a prospective basis.

In May 2014, the FASB issued a new standard related to revenue recognition, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The new standard will replace most of the existing revenue recognition standards in U.S. GAAP when it becomes effective on January 1, 2017. Early adoption is not permitted. The new standard can be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of the change recognized at the date of the initial application in retained earnings. The Company is assessing the potential impact of the new standard on financial reporting and has not yet selected a transition method.

BUSINESS SEGMENT INFORMATION (Tables)

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:



	2014		2013		2012
McKesson Corporation	20	%	19	%	23	%
Cardinal Health, Inc.	12	%	14	%	19	%
AmerisourceBergen Corporation	17	%	15	%	14	%

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	2014		2013		2012		2014		2013
United States	$	7,716	$	8,318	$	10,384	$	3,686	$	3,708
Europe	3,592		3,930		3,706		597		729
Rest of the World	3,459		3,295		3,204		134		142
Other^(a)	1,112		842		327		—		—
Total	$	15,879	$	16,385	$	17,621	$	4,417	$	4,579


(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	2014		2013		2012
Virology
Baraclude (entecavir)	$	1,441	$	1,527	$	1,388
Hepatitis C Franchise^(a)	256		—		—
Reyataz (atazanavir sulfate)	1,362		1,551		1,521
Sustiva (efavirenz) Franchise^(b)	1,444		1,614		1,527
Oncology
Erbitux* (cetuximab)	723		696		702
Opdivo (nivolumab)	6		—		—
Sprycel (dasatinib)	1,493		1,280		1,019
Yervoy (ipilimumab)	1,308		960		706
Neuroscience
Abilify* (aripiprazole)^(c)	2,020		2,289		2,827
Immunoscience
Orencia (abatacept)	1,652		1,444		1,176
Cardiovascular
Eliquis (apixaban)	774		146		2
Diabetes Alliance^(d)	295		1,683		972
Mature Products and All Other^(e)	3,105		3,195		5,781
Total Revenues	$	15,879	$	16,385	$	17,621


(a)	Includes Daklinza (daclatasvir) revenues of $201 million and Sunvepra (asunaprevir) revenues of $55 million in 2014.


(b)	Includes alliance and other revenues of $1,255 million in 2014, $1,366 million in 2013 and $1,267 million in 2012.


(c)	Includes alliance and other revenues of $1,778 million in 2014, $1,840 million in 2013 and $2,340 million in 2012.


(d)	Includes Bydureon* (exenatide extended-release for injectable suspension), Byetta* (exenatide), Farxiga/Xigduo (dapagliflozin/dapagliflozin and metformin hydrochloride), Onglyza/Kombiglyze (saxagliptin/saxagliptin and metformin), Myalept* (metreleptin) and Symlin* (pramlintide acetate). BMS sold its diabetes business to AstraZeneca on February 1, 2014.


(e)	Includes Plavix* (clopidogrel bisulfate) revenues of $208 million in 2014, $258 million in 2013 and $2,547 million in 2012. Additionally, includes Avapro/Avalide (irbesartan/irbesartan-hydrochlorothiazide) revenues of $211 million in 2014, $231 million in 2013 and $503 million in 2012.

ALLIANCES(Tables)

Summarized Financial Information Reflected In Consolidated Financial Statements [Table Text Block]

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	2014			2013			2012
Revenues from alliances:
Net product sales	$	3,531		$	4,417		$	6,124
Alliance and other revenues	3,828			3,804			3,748
Total Revenues	$	7,359		$	8,221		$	9,872

Payments to/(from) alliance partners:
Cost of products sold	$	1,394		$	1,356		$	1,706
Marketing, selling and administrative	44			(125		)	(80		)
Advertising and product promotion	90			(58		)	(97		)
Research and development	(70		)	(140		)	4
Other (income)/expense	(1,076		)	(313		)	(489		)

Noncontrolling interest, pre-tax	38			36			844



Selected Alliance Balance Sheet Information:	December 31,
Dollars in Millions	2014		2013
Receivables – from alliance partners	$	888	$	1,122
Accounts payable – to alliance partners	1,479		1,396
Deferred income from alliances^(a)	1,493		5,089


(a)	Includes deferred income classified as liabilities related to assets held-for-sale of $3,671 million at December 31, 2013.

Schedule Of Percentage Of Net Sales Recognized From Collaboration [Table 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 year end. BMS's annual contractual share was 33% in 2014 and 34% 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 [Table 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 [Table Text Block]

Summarized financial information related to this alliance was as follows:



	Year Ended December 31,
Dollars in Millions	2014			2013			2012
Revenues from Otsuka alliances:
Net product sales	$	1,493		$	1,543		$	1,386
Alliance and other revenues^(a)	1,778			1,840			2,340
Total Revenues	$	3,271		$	3,383		$	3,726

Payments to/(from) Otsuka:
Cost of products sold:
Oncology fee	$	297		$	295		$	138
Royalties	90			86			78
Amortization of intangible assets	—			—			5
Cost of product supply	67			135			153

Cost reimbursements to/(from) Otsuka recognized in:
Cost of products sold	3			3			2
Marketing, selling and administrative	61			34			7
Advertising and product promotion	32			(42		)	(49		)
Research and development	3			(5		)	(7		)

Other (income)/expense	(9		)	—			—



Selected Alliance Balance Sheet information:	December 31,
Dollars in Millions	2014		2013
Other assets – extension payment	$	21	$	87


(a)	Includes the amortization of the extension payment as a reduction to alliance and other revenue of $66 million in 2014, 2013 and 2012.

Summarized Financial Information Reflected In Consolidated Financial Statements [Table Text Block]

Summarized financial information related to the AstraZeneca alliances was as follows:



	Year Ended December 31,
Dollars in Millions	2014			2013			2012
Revenues from AstraZeneca alliances:
Net product sales	$	160		$	1,658		$	962
Alliance and other revenues	135			16			10
Total Revenues	$	295		$	1,674		$	972

Payments to/(from) AstraZeneca:
Cost of products sold:
Profit sharing	$	79		$	673		$	425
Amortization of deferred income	—			(307		)	(126		)

Cost reimbursements to/(from) AstraZeneca recognized in:
Cost of products sold	(9		)	(25		)	(4		)
Marketing, selling and administrative	(6		)	(127		)	(66		)
Advertising and product promotion	(2		)	(45		)	(43		)
Research and development	(16		)	(86		)	(25		)

Other (income)/expense:
Amortization of deferred income	(80		)	(31		)	(38		)
Provision for restructuring	(2		)	(25		)	(21		)
Royalties	(192		)	—			—
Transitional services	(90		)	—			—
Gain on sale of business	(536		)	—			—

Selected Alliance Cash Flow information:
Deferred income	315			215			3,547
Business divestitures and other proceeds	3,495			—			—



Selected Alliance Balance Sheet information:	December 31,
Dollars in Millions	2014		2013
Deferred income attributed to:
Non-refundable upfront, milestone and other licensing receipts^(a)	$	—	$	3,671
Assets not yet transferred to AstraZeneca	176		—
Services not yet performed for AstraZeneca	226		—


(a)	Included in liabilities related to assets held-for-sale at December 31, 2013.

Schedule Of Royalty Rates Based On Net Sales [Table Text Block]

Royalty rates on net sales are as follows:



	2014		2015		2016		2017		2018 - 2025
Onglyza* and Farxiga* Worldwide Net Sales up to $500 million	44	%	35	%	27	%	12	%	14-25%
Onglyza* and Farxiga* Worldwide Net Sales over $500 million	3	%	7	%	9	%	12	%	14-25%
Amylin products U.S. Net Sales	—		2	%	2	%	5	%	5-12%

Summarized Financial Information Reflected In Consolidated Financial Statements [Table Text Block]

Summarized financial information related to this alliance was as follows:



	Year Ended December 31,
Dollars in Millions	2014		2013		2012
Revenues from Gilead alliances:
Alliance and other revenues	$	1,255	$	1,366	$	1,267

Equity in net loss of affiliates	$	39	$	17	$	18



Selected Alliance Balance Sheet information:	December 31,
Dollars in Millions	2014		2013
Deferred income	$	316	$	468

Summarized Financial Information Reflected In Consolidated Financial Statements [Table Text Block]

Summarized financial information related to this alliance was as follows:



	Year Ended December 31,
Dollars in Millions	2014		2013			2012
Revenues from Lilly alliance:
Net product sales	$	691	$	696		$	702
Alliance and other revenues	32		—			—
Total revenues	$	723	$	696		$	702

Payments to/(from) Lilly:
Cost of products sold:
Distribution fees and royalties	$	287	$	289		$	291
Amortization of intangible asset	37		37			38
Cost of product supply	69		65			81

Cost reimbursements to/(from) Lilly	—		(13		)	23
Other (income)/expense – Japan commercialization fee	—		(30		)	(37		)



Selected Alliance Balance Sheet information	December 31,
Dollars in Millions	2014		2013
Other intangible assets – Non-refundable upfront, milestone and other licensing payments	$	137	$	174

Summarized Financial Information Reflected In Consolidated Financial Statements [Table Text Block]

Summarized financial information related to this alliance was as follows:



	Year Ended December 31,
Dollars in Millions	2014			2013			2012
Revenues from Sanofi alliances:
Net product sales	$	102		$	153		$	2,930
Alliance and other revenues	317			336			120
Total Revenues	$	419		$	489		$	3,050

Payments to/(from) Sanofi:
Cost of product supply	$	2		$	4		$	81
Cost of products sold– Royalties	4			4			530
Equity in net income of affiliates	(146		)	(183		)	(201		)
Other (income)/expense	—			(18		)	(171		)
Noncontrolling interest – pre-tax	38			36			844

Selected Alliance Cash Flow information:
Distributions (to)/from Sanofi - Noncontrolling interest	(49		)	43			(742		)
Distributions from Sanofi - Investment in affiliates	153			149			229

Selected Alliance Balance Sheet information:				December 31,
Dollars in Millions				2014			2013
Investment in affiliates – territory covering Europe and Asia^(a)				$	32		$	43
Noncontrolling interest				38			49


(a)	Included in alliance receivables.

Equity Method Investments Disclosure [Table 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	2014		2013		2012
Net sales	$	360	$	395	$	1,077
Gross profit	297		319		453
Net income	$	292	$	313	$	394

Summarized Financial Information Reflected In Consolidated Financial Statements [Table Text Block]

Summarized financial information related to this alliance was as follows:



	Year Ended December 31,
Dollars in Millions	2014			2013			2012
Revenues from Pfizer alliance:
Net product sales	$	771		$	144		$	2
Alliance and other revenues	3			2			—
Total Revenues	$	774		$	146		$	2

Payments to/(from) Pfizer:
Cost of products sold – Profit sharing	$	363		$	69		$	1
Cost reimbursements to/(from) Pfizer	26			4			(11		)
Other (income)/expense – Amortization of deferred income	(50		)	(41		)	(37		)

Selected Alliance Cash Flow information:
Deferred income	100			205			20

Selected Alliance Balance Sheet information:				December 31,
Dollars in Millions				2014			2013
Deferred income				$	611		$	581

Summarized Financial Information Reflected In Consolidated Financial Statements [Table Text Block]

Summarized financial information related to this alliance was as follows:



	Year Ended December 31,
Dollars in Millions	2014		2013
Revenues from Reckitt alliance:
Alliance and other revenues	$	170	$	116

Selected Alliance Cash Flow Information:
Deferred income	$	—	$	376
Other changes in operating assets and liabilities	20		109



Selected Alliance Balance Sheet information:	December 31,
Dollars in Millions	2014		2013
Deferred income	$	155	$	290

Summarized Financial Information Reflected In Consolidated Financial Statements [Table Text Block]

Summarized financial information related to this alliance was as follows:



	Year Ended December 31,
Dollars in Millions	2014		2013
Revenues from The Medicines Company alliance:
Alliance and other revenues	$	66	$	74

Selected Alliance Cash Flow Information:
Deferred income	$	—	$	80
Other changes in operating assets and liabilities	—		35



Selected Alliance Balance Sheet information:	December 31,
Dollars in Millions	2014		2013
Deferred income	$	3	$	44

Summarized Financial Information Reflected In Consolidated Financial Statements [Table Text Block]

Summarized financial information related to this alliance was as follows:



	Year Ended December 31,
Dollars in Millions	2014		2013		2012
Revenues from Valeant alliance:
Net product sales	$	—	$	4	$	5
Alliance and other revenues	44		49		5
Total Revenues	$	44	$	53	$	10

Selected Alliance Cash Flow Information:
Deferred income	$	—	$	—	$	61
Other changes in operating assets and liabilities	16		—		18



Selected Alliance Balance Sheet information:	December 31,
Dollars in Millions	2014		2013
Deferred income	$	—	$	26

Summarized Financial Information Reflected In Consolidated Financial Statements [Table Text Block]

Summarized financial information related to this alliance was as follows:



	Year Ended December 31,
Dollars in Millions	2014			2013			2012
Revenues from Ono alliances:
Net product sales	$	113		$	41		$	—
Alliance and other revenues	28			4			—
Total Revenues	$	141		$	45		$	—

Payments to/(from) Ono:
Cost of products sold:
Co-Promotion Fee	$	20		$	11		$	—

Cost reimbursements to/(from) Ono recognized in:
Research and development	(15		)	(12		)	(11		)

ACQUISITIONS (Tables)

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 and Inhibitex acquisitions were as follows:



Dollars in Millions
Identifiable net assets:	Amylin			Inhibitex
Cash	$	179		$	46
Marketable securities	108			17
Inventory	173			—
Property, plant and equipment	742			—
Developed technology rights	6,340			—
IPRD	120			1,875
Other assets	136			—
Debt obligations	(2,020		)	(23		)
Other liabilities	(339		)	(10		)
Deferred income taxes	(1,068		)	(579		)
Total identifiable net assets	4,371			1,326
Goodwill	847			1,213
Total consideration transferred	$	5,218		$	2,539

ASSETS HELD-FOR-SALE (Tables)

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]

The following table provides the assets and liabilities classified as held-for-sale:



Dollars in Millions	December 31, 2014		December 31, 2013
Assets
Receivables	$	—	$	83
Inventories	38		163
Deferred income taxes - current	—		125
Prepaid expenses and other	—		20
Property, plant and equipment	—		678
Goodwill	19		550
Other intangible assets	52		5,682
Other assets	—		119
Assets held-for-sale	$	109	$	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
Liabilities related to assets held-for-sale	$	—	$	4,931

OTHER (INCOME)/EXPENSE (Tables)

Schedule Of Other Income Expense [Table Text Block]

Other (income)/expense includes:



	Year Ended December 31,
Dollars in Millions	2014			2013			2012
Interest expense	$	203		$	199		$	182
Investment income	(101		)	(104		)	(106		)
Provision for restructuring	163			226			174
Litigation charges/(recoveries)	23			20			(45		)
Equity in net income of affiliates	(107		)	(166		)	(183		)
Out-licensed intangible asset impairment	29			—			38
Gain on sale of product lines, businesses and assets	(564		)	(2		)	(53		)
Other alliance and licensing income	(404		)	(148		)	(312		)
Pension curtailments, settlements and special termination benefits	877			165			158
Other	91			15			67
Other (income)/expense	$	210		$	205		$	(80	)

RESTRUCTURING (Tables)

Schedule of Restructuring and Related Costs [Table Text Block]

The following is the provision for restructuring:



	Year Ended December 31,
Dollars in Millions	2014		2013		2012
Employee termination benefits	$	157	$	211	$	145
Other exit costs	6		15		29
Provision for restructuring	$	163	$	226	$	174

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	2014			2013			2012
Liability at January 1	$	102		$	167		$	77
Charges	155			249			178
Change in estimates	8			(23		)	(4		)
Provision for restructuring	163			226			174
Foreign currency translation	(2		)	4			(1		)
Amylin acquisition	—			—			26
Liabilities related to assets held-for-sale	—			(67		)	—
Spending	(107		)	(228		)	(109		)
Liability at December 31	$	156		$	102		$	167

INCOME TAXES (Tables)

Schedule of Provision for Income Taxes [Table Text Block]

The provision/(benefit) for income taxes consisted of:



	Year Ended December 31,
Dollars in Millions	2014			2013			2012
Current:
U.S.	$	334		$	375		$	627
Non-U.S.	560			427			442
Total Current	894			802			1,069
Deferred:
U.S.	(403		)	(390		)	(1,164		)
Non-U.S	(139		)	(101		)	(66		)
Total Deferred	(542		)	(491		)	(1,230		)
Total Provision/(Benefit)	$	352		$	311		$	(161	)

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	2014					2013					2012
Earnings/(Loss) before income taxes:
U.S.	$	(349	)			$	(135	)			$	(271	)
Non-U.S.	2,730					3,026					2,611
Total	$	2,381				$	2,891				$	2,340
U.S. statutory rate	833			35.0	%	1,012			35.0	%	819			35.0	%
Foreign tax effect of certain operations in Ireland, Puerto Rico and Switzerland	(509		)	(21.4	)%	(620		)	(21.4	)%	(688		)	(29.4	)%
U.S. tax effect of capital losses	(361		)	(15.2	)%	—			—		(392		)	(16.7	)%
U.S. Federal, state and foreign contingent tax matters	228			9.6	%	134			4.6	%	66			2.8	%
U.S. Federal research based credits	(131		)	(5.4	)%	(220		)	(7.6	)%	(31		)	(1.4	)%
Goodwill related to diabetes divestiture	210			8.8	%	—			—		—			—
U.S. Branded Prescription Drug Fee	84			3.5	%	63			2.2	%	90			3.8	%
R&D charge	52			2.2	%	—			—		—			—
State and local taxes (net of valuation allowance)	20			0.8	%	25			0.9	%	20			0.9	%
Foreign and other	(74		)	(3.1	)%	(83		)	(2.9	)%	(45		)	(1.9	)%
	$	352		14.8	%	$	311		10.8	%	$	(161	)	(6.9	)%

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	2014			2013
Deferred tax assets
Foreign net operating loss carryforwards	$	3,473		$	3,892
Milestone payments and license fees	440			483
Deferred income	1,163			2,168
U.S. capital loss carryforwards	562			784
U.S. Federal net operating loss carryforwards	135			138
Pension and postretirement benefits	467			120
State net operating loss and credit carryforwards	337			377
Intercompany profit and other inventory items	531			495
U.S. Federal tax credit carryforwards	26			23
Other foreign deferred tax assets	202			187
Share-based compensation	95			107
Legal settlements	14			20
Repatriation of foreign earnings	94			49
Internal transfer of intellectual property	247			223
Other	311			357
Total deferred tax assets	8,097			9,423
Valuation allowance	(4,259		)	(4,623		)
Net deferred tax assets	3,838			4,800

Deferred tax liabilities
Depreciation	(128		)	(148		)
Acquired intangible assets	(390		)	(2,567		)
Other	(832		)	(780		)
Total deferred tax liabilities	(1,350		)	(3,495		)
Deferred tax assets, net	$	2,488		$	1,305

Recognized as:
Assets held-for-sale	$	—		$	125
Deferred income taxes – current	1,644			1,701
Deferred income taxes – non-current	915			508
Income taxes payable – current	(11		)	(10		)
Liabilities related to assets held-for-sale	—			(946		)
Income taxes payable – non-current	(60		)	(73		)
Total	$	2,488		$	1,305

Summary of Valuation Allowance [Table Text Block]

Changes in the valuation allowance were as follows:



	Year Ended December 31,
Dollars in Millions	2014			2013			2012
Balance at beginning of year	$	4,623		$	4,404		$	3,920
Provision	140			252			494
Utilization	(109		)	(68		)	(145		)
Foreign currency translation	(395		)	40			39
Acquisitions	—			(5		)	96
Balance at end of year	$	4,259		$	4,623		$	4,404

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	2014			2013			2012
Balance at beginning of year	$	756		$	642		$	628
Gross additions to tax positions related to current year	106			74			46
Gross additions to tax positions related to prior years	218			108			66
Gross additions to tax positions assumed in acquisitions	—			—			31
Gross reductions to tax positions related to prior years	(57		)	(87		)	(57		)
Settlements	(65		)	26			(54		)
Reductions to tax positions related to lapse of statute	(12		)	(8		)	(19		)
Cumulative translation adjustment	(12		)	1			1
Balance at end of year	$	934		$	756		$	642

Summary of Income Tax Examinations [Table Text Block]

Additional information regarding unrecognized tax benefits is as follows:



	Year Ended December 31,
Dollars in Millions	2014			2013		2012
Unrecognized tax benefits that if recognized would impact the effective tax rate	$	668		$	508	$	633
Accrued interest	96			83		59
Accrued penalties	17			34		32
Interest expense	27			24		14
Penalty expense/(benefit)	(7		)	3		16

EARNINGS PER SHARE (Tables)

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]



	Year Ended December 31,
Amounts in Millions, Except Per Share Data	2014		2013		2012
Net Earnings Attributable to BMS	$	2,004	$	2,563	$	1,960
Earnings attributable to unvested restricted shares	—		—		(1		)
Net Earnings Attributable to BMS common shareholders	$	2,004	$	2,563	$	1,959

Earnings per share - basic	$	1.21	$	1.56	$	1.17

Weighted-average common shares outstanding - basic	1,657		1,644		1,670
Contingently convertible debt common stock equivalents	1		1		1
Incremental shares attributable to share-based compensation plans	12		17		17
Weighted-average common shares outstanding - diluted	1,670		1,662		1,688

Earnings per share - diluted	$	1.20	$	1.54	$	1.16

Anti-dilutive weighted-average equivalent shares - stock incentive plans	—		—		2

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)

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:



	December 31, 2014											December 31, 2013
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	$	—	$	5,051		$	—		$	5,051		$	—	$	3,201		$	—		$	3,201
Marketable securities
Certificates of deposit	—		896			—			896			—		122			—			122
Corporate debt securities	—		5,259			—			5,259			—		4,432			—			4,432
Equity funds	—		94			—			94			—		74			—			74
Fixed income funds	—		11			—			11			—		46			—			46
Auction Rate Securities (ARS)	—		—			12			12			—		—			12			12
Derivative assets:
Interest rate swap contracts	—		46			—			46			—		64			—			64
Foreign currency forward contracts	—		118			—			118			—		50			—			50
Equity investments	36		—			—			36			—		—			—			—
Derivative liabilities:
Interest rate swap contracts	—		(3		)	—			(3		)	—		(27		)	—			(27		)
Foreign currency forward contracts	—		—			—			—			—		(35		)	—			(35		)
Written option liabilities	—		—			(198		)	(198		)	—		—			(162		)	(162		)
Contingent consideration liability	—		—			(8		)	(8		)	—		—			(8		)	(8		)

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:



	2014								2013
Dollars in Millions	ARS		Written option liabilities			Contingent consideration liability			ARS and FRS^(a)			Written option liabilities			Contingent consideration liability
Fair value at January 1	$	12	$	(162	)	$	(8	)	$	31		$	(18	)	$	(8	)
Additions from new alliances	—		—			—			—			(144		)	—
Unrealized gains	—		—			—			1			—			—
Sales	—		—			—			(20		)	—			—
Changes in fair value	—		(36		)	—			—			—			—
Fair value at December 31	$	12	$	(198	)	$	(8	)	$	12		$	(162	)	$	(8	)


(a)	Floating Rate Securities

Available-for-sale Securities [Table Text Block]

The following table summarizes available-for-sale securities:



Dollars in Millions	Amortized Cost		Gross Unrealized Gain in Accumulated OCI		Gross Unrealized Loss in Accumulated OCI			Fair Value
Dollars in Millions	Amortized Cost		Gross Unrealized Gain in Accumulated OCI		Gross Unrealized Loss in Accumulated OCI			Fair Value
December 31, 2014
Certificates of deposit	$	896	$	—	$	—		$	896
Corporate debt securities	5,237		30		(8		)	5,259
ARS	9		3		—			12
Equity investments	14		22		—			36
Total	$	6,156	$	55	$	(8	)	$	6,203

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

Schedule of Derivatives and Fair Value [Table Text Block]

The following summarizes the fair value of outstanding derivatives:



		December 31, 2014					December 31, 2013
Dollars in Millions	Balance Sheet Location	Notional		Fair Value			Notional		Fair Value
Derivatives designated as hedging instruments:
Interest rate swap contracts	Other assets	$	847	$	46		$	673	$	64
Interest rate swap contracts	Other liabilities	1,050		(3		)	1,950		(27		)
Foreign currency forward contracts	Prepaid expenses and other	1,323		106			301		44
Foreign currency forward contracts	Other assets	100		12			100		6
Foreign currency forward contracts	Accrued expenses	—		—			704		(31		)
Foreign currency forward contracts	Other liabilities	—		—			263		(4		)

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	2014			2013
Principal Value:
4.375% Euro Notes due 2016	$	611		$	684
0.875% Notes due 2017	750			750
5.450% Notes due 2018	—			582
1.750% Notes due 2019	500			500
4.625% Euro Notes due 2021	611			684
2.000% Notes due 2022	750			750
7.150% Debentures due 2023	304			304
3.250% Notes due 2023	500			500
6.800% 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			500
6.880% Debentures due 2097	260			260
0% - 5.75% Other - maturing 2016 - 2030	83			144
Subtotal	6,804			7,593

Adjustments to Principal Value:
Fair value of interest rate swap contracts	43			37
Unamortized basis adjustment from swap terminations	454			442
Unamortized bond discounts	(59		)	(64		)
Total	$	7,242		$	8,008

Current portion of long-term debt^(a)	$	—		$	27
Long-term debt	7,242			7,981


(a)	Included in liabilities related to assets held-for-sale at December 31, 2013.

Schedule of Debt Repurchases [Table Text Block]

There were no debt redemptions in 2013. Debt redemption activity for 2014 and 2012, including repayment of the Amylin debt obligations, was as follows:



Dollars in Millions	2014			2012
Principal amount	$	582		$	2,052
Carrying value	633			2,081
Redemption price	676			2,108
Notional amount of interest rate swap contracts terminated	500			6
Swap termination proceeds/(payments)	(4		)	2
Total loss	45			27

RECEIVABLES (Tables)

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]



	December 31,
Dollars in Millions	2014			2013
Trade receivables	$	2,193		$	1,779
Less allowances	(93		)	(89		)
Net trade receivables	2,100			1,690
Alliance partners receivables	888			1,122
Prepaid and refundable income taxes	178			262
Miscellaneous receivables	224			286
Receivables	$	3,390		$	3,360

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	2014			2013			2012
Balance at beginning of year	$	89		$	104		$	147
Provision	773			720			832
Utilization	(769		)	(731		)	(875		)
Assets held-for-sale	—			(4		)	—
Balance at end of year	$	93		$	89		$	104

INVENTORIES (Tables)

Schedule of Inventories [Table Text Block]



	December 31,
Dollars in Millions	2014		2013
Finished goods	$	500	$	491
Work in process	856		757
Raw and packaging materials	204		250
Inventories	$	1,560	$	1,498

PROPERTY, PLANT AND EQUIPMENT (Tables)

Property, Plant and Equipment [Table Text Block]



	December 31,
Dollars in Millions	2014			2013
Land	$	109		$	109
Buildings	4,830			4,748
Machinery, equipment and fixtures	3,774			3,699
Construction in progress	353			287
Gross property, plant and equipment	9,066			8,843
Less accumulated depreciation	(4,649		)	(4,264		)
Property, plant and equipment	$	4,417		$	4,579

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

Schedule Of Intangible Assets By Major Class [Table Text Block]



		December 31,
Dollars in Millions	Estimated Useful Lives	2014		2013
Goodwill		7,027		7,096

Other intangible assets:
Licenses	5 – 15 years	1,090		1,162
Developed technology rights	9 – 15 years	2,358		2,486
Capitalized software	3 – 10 years	1,254		1,240
In-process research and development (IPRD)		280		548
Gross other intangible assets		4,982		5,436
Less accumulated amortization		(3,229	)	(3,118	)
Total other intangible assets		1,753		2,318

ACCRUED EXPENSES (Tables)

Schedule of Accrued Liabilities [Table Text Block]



	December 31,
Dollars in Millions	2014		2013
Employee compensation and benefits	$	892	$	735
Royalties	213		173
Accrued research and development	445		380
Restructuring - current	128		73
Pension and postretirement benefits	47		47
Accrued litigation	43		65
Other	691		679
Total accrued expenses	$	2,459	$	2,152

SALES REBATES AND RETURN ACCRUALS (Tables)

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	2014		2013
Charge-backs related to government programs	$	41	$	37
Cash discounts	15		12
Reductions to trade receivables	$	56	$	49

Managed healthcare rebates and other contract discounts	$	148	$	147
Medicaid rebates	193		227
Sales returns	232		279
Other adjustments	278		236
Accrued rebates and returns	$	851	$	889

DEFERRED INCOME (Tables)

Schedule of Deferred Income [Table Text Block]



	December 31,
Dollars in Millions	2014		2013
Alliances (Note 3)	$	1,493	$	1,418
Gain on sale-leaseback transactions	45		71
Other	399		36
Total deferred income	$	1,937	$	1,525

Current portion	$	1,167	$	756
Non-current portion	770		769

EQUITY (Tables)

Schedule of Stockholders Equity [Table Text Block]



	Common Stock			Capital in Excess of Par Value of Stock			Retained Earnings			Treasury Stock					Noncontrolling Interest
Dollars and Shares in Millions	Shares	Par Value		Capital in Excess of Par Value of Stock			Retained Earnings			Shares		Cost			Noncontrolling Interest
Balance at January 1, 2012	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
Net earnings	—	—		—			2,004			—		—			39
Cash dividends declared	—	—		—			(2,415		)	—		—			—
Employee stock compensation plans	—	—		(393		)	—			(11	)	755			—
Debt conversion	—	—		(22		)	—			(1	)	53			—
Variable interest entity	—	—		—			—			—		—			59
Distributions	—	—		—			—			—		—			(49		)
Balance at December 31, 2014	2,208	$	221	$	1,507		$	32,541		547		$	(16,992	)	$	131

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
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
2014
Derivatives qualifying as cash flow hedges:^(a)
Unrealized gains	$	139		$	(45	)	$	94
Reclassified to net earnings	(41		)	16			(25		)
Derivatives qualifying as cash flow hedges	98			(29		)	69
Pension and other postretirement benefits:
Actuarial losses	(1,414		)	464			(950		)
Amortization^(b)	104			(37		)	67
Settlements and curtailments^(c)	867			(308		)	559
Pension and other postretirement benefits	(443		)	119			(324		)
Available-for-sale securities:
Unrealized gains	10			(6		)	4
Realized gains^(d)	(1		)	—			(1		)
Available-for-sale securities	9			(6		)	3
Foreign currency translation	(8		)	(24		)	(32		)
	$	(344	)	$	60		$	(284	)


(a)	Reclassifications to net earnings of derivatives qualifying as effective hedges are recognized in costs of products sold.


(b)	Actuarial gains/(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 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	2014			2013
Derivatives qualifying as cash flow hedges	$	85		$	16
Pension and other postretirement benefits	(2,181		)	(1,857		)
Available-for-sale securities	31			28
Foreign currency translation	(360		)	(328		)
Accumulated other comprehensive loss	$	(2,425	)	$	(2,141	)

PENSION AND POSTRETIREMENT BENEFIT PLANS (Tables)

Schedule Of Net Benefit Costs [Table Text Block]

The net periodic benefit cost/(credit) of defined benefit pension and postretirement benefit plans includes:



	Pension Benefits									Other Benefits
Dollars in Millions	2014			2013			2012			2014			2013			2012
Service cost — benefits earned during the year	$	34		$	38		$	32		$	4		$	8		$	8
Interest cost on projected benefit obligation	305			302			319			14			13			22
Expected return on plan assets	(508		)	(519		)	(508		)	(27		)	(26		)	(25		)
Amortization of prior service credits	(3		)	(4		)	(3		)	(1		)	(2		)	(2		)
Amortization of net actuarial (gain)/loss	110			134			129			(2		)	1			10
Curtailments	1			—			(1		)	(4		)	—			—
Settlements	866			165			160			—			—			—
Special termination benefits	14			—			—			—			—			—
Net periodic benefit cost/(credit)	$	819		$	116		$	128		$	(16	)	$	(6	)	$	13

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	2014			2013			2014			2013
Benefit obligations at beginning of year	$	7,233		$	8,200		$	404		$	460
Service cost—benefits earned during the year	34			38			4			8
Interest cost	305			302			14			13
Plan participants’ contributions	2			2			22			23
Curtailments	(27		)	—			(3		)	—
Settlements	(1,774		)	(350		)	—			—
Plan amendments	(2		)	(1		)	(7		)	—
Actuarial (gains)/losses	1,673			(761		)	28			(43		)
Retiree Drug Subsidy	—			—			6			6
Benefits paid	(216		)	(206		)	(62		)	(63		)
Exchange rate (gains)/losses	(160		)	9			(4		)	—
Benefit obligations at end of year	$	7,068		$	7,233		$	402		$	404

Fair value of plan assets at beginning of year	$	7,406		$	6,542		$	347		$	311
Actual return on plan assets	750			1,154			36			61
Employer contributions	124			251			8			9
Plan participants’ contributions	2			2			22			23
Settlements	(1,774		)	(350		)	—			—
Retiree Drug Subsidy	—			—			6			6
Benefits paid	(216		)	(206		)	(62		)	(63		)
Exchange rate gains/(losses)	(144		)	13			—			—
Fair value of plan assets at end of year	$	6,148		$	7,406		$	357		$	347

Funded status	$	(920	)	$	173		$	(45	)	$	(57	)

Assets/(Liabilities) recognized:
Other assets	$	40		$	731		$	91		$	87
Accrued expenses	(36		)	(35		)	(11		)	(12		)
Pension and other postretirement liabilities	(924		)	(523		)	(125		)	(132		)
Funded status	$	(920	)	$	173		$	(45	)	$	(57	)

Recognized in accumulated other comprehensive loss:
Net actuarial (gains)/losses	$	3,304		$	2,878		$	(24	)	$	(44	)
Prior service credit	(40		)	(41		)	(9		)	(4		)
Total	$	3,264		$	2,837		$	(33	)	$	(48	)

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	2014		2013
Pension plans with projected benefit obligations in excess of plan assets:
Projected benefit obligation	$	5,877	$	1,291
Fair value of plan assets	4,917		732
Pension plans with accumulated benefit obligations in excess of plan assets:
Accumulated benefit obligation	$	5,731	$	1,101
Fair value of plan assets	4,823		608

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
	2014		2013		2014		2013
Discount rate	3.6	%	4.4	%	3.4	%	3.8	%
Rate of compensation increase	0.8	%	2.3	%	2.0	%	2.1	%

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
	2014		2013		2012		2014		2013		2012
Discount rate	4.2	%	4.1	%	4.4	%	3.7	%	3.0	%	4.1	%
Expected long-term return on plan assets	7.6	%	8.0	%	8.2	%	8.3	%	8.8	%	8.8	%
Rate of compensation increase	2.3	%	2.3	%	2.3	%	2.1	%	2.1	%	2.0	%

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:



	2014		2013		2012
10 years	7.9	%	8.0	%	8.5	%
15 years	6.4	%	6.8	%	6.5	%
20 years	9.3	%	8.8	%	8.5	%

Schedule Of Health Care Cost Trend Rates [Table Text Block]

Assumed healthcare cost trend rates at December 31 were as follows:



	2014		2013		2012
Healthcare cost trend rate assumed for next year	6.0	%	6.4	%	6.8	%
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	2018		2019		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, 2014 and 2013 was as follows:



	December 31, 2014								December 31, 2013
Dollars in Millions	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Equity Securities	$	1,115	$	—	$	—	$	1,115	$	1,804	$	—	$	—	$	1,804
Equity Funds	446		1,113		—		1,559		534		1,679		—		2,213
Fixed Income Funds	340		777		—		1,117		238		657		—		895
Corporate Debt Securities	—		1,481		—		1,481		—		1,410		—		1,410
Venture Capital and Limited Partnerships	—		—		327		327		—		—		369		369
Government Mortgage Backed Securities	—		7		—		7		—		1		—		1
U.S. Treasury and Agency Securities	—		557		—		557		—		514		—		514
Short-Term Investment Funds	—		63		—		63		—		122		—		122
Insurance Contracts	—		—		119		119		—		—		142		142
Event Driven Hedge Funds	—		71		—		71		—		122		—		122
State and Municipal Bonds	—		9		—		9		—		24		—		24
Real Estate	4		—		—		4		4		—		—		4
Cash and Cash Equivalents	76		—		—		76		133		—		—		133
Total plan assets at fair value	$	1,981	$	4,078	$	446	$	6,505	$	2,713	$	4,529	$	511	$	7,753

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 and Limited Partnerships			Insurance Contracts			Other			Total
Fair value at January 1, 2013	$	381		$	132		$	23		$	536
Purchases, sales and settlements, net	(91		)	(4		)	(23		)	(118		)
Realized gains/(losses)	48			5			—			53
Unrealized gains/(losses)	31			9			—			40
Fair value at December 31, 2013	369			142			—			511
Purchases, sales and settlements, net	(88		)	(15		)	—			(103		)
Realized gains/(losses)	61			(15		)	—			46
Unrealized gains/(losses)	(15		)	7			—			(8		)
Fair value at December 31, 2014	$	327		$	119		$	—		$	446

EMPLOYEE STOCK BENEFIT PLANS (Tables)

Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block]

Other information related to stock-based compensation benefits are as follows:



	Years Ended December 31,
Dollars in Millions	2014		2013		2012
Stock options	$	—	$	2	$	7
Restricted stock units	75		74		64
Market share units	34		29		23
Performance share units	104		86		60
Amylin stock options and restricted stock units (see Note 4)	—		—		94
Total stock-based compensation expense	$	213	$	191	$	248

Income tax benefit	$	71	$	64	$	82

Schedule of Share-based Compensation, Activity [Table Text Block]



	Stock Options				Restricted Stock Units				Market Share Units				Performance share units
	Number of Options Outstanding		Weighted- Average Exercise Price of Shares		Number of Nonvested Awards		Weighted- Average Grant-Date Fair Value		Number of Nonvested Awards		Weighted- Average Grant-Date Fair Value		Number of Nonvested Awards		Weighted- Average Grant-Date Fair Value
Shares in Thousands	Number of Options Outstanding		Weighted- Average Exercise Price of Shares		Number of Nonvested Awards		Weighted- Average Grant-Date Fair Value		Number of Nonvested Awards		Weighted- Average Grant-Date Fair Value		Number of Nonvested Awards		Weighted- Average Grant-Date Fair Value
Balance at January 1, 2014	23,123		$	22.88	6,552		$	32.81	1,832		$	33.82	4,292		$	33.75
Granted	—		—		1,903		52.22		886		55.44		2,288		55.17
Released/Exercised	(6,635	)	23.68		(2,474	)	27.51		(1,674	)	29.32		(2,743	)	32.80
Adjustments for actual payout	—		—		—		—		1,212		27.40		(120	)	33.08
Forfeited/Canceled	(911	)	27.25		(734	)	23.75		(295	)	40.34		(298	)	53.68
Balance at December 31, 2014	15,577		22.29		5,247		43.61		1,961		42.47		3,419		47.12

Vested or expected to vest	15,577		22.29		4,847		43.61		1,812		42.47		3,159		47.12

Schedule of Unrecognized Compensation Cost, Nonvested Awards [Table Text Block]



	Restricted		Market		Performance
Dollars in Millions	Stock Units		Share Units		Share Units
Unrecognized compensation cost	$	152	$	36	$	88
Expected weighted-average period in years of compensation cost to be recognized	2.6		2.6		1.7

Schedule Of Share Based Compensation Additional Information [Table Text Block]



Amounts in Millions, except per share data	2014		2013		2012
Weighted-average grant date fair value (per share):
Restricted stock units	$	52.22	$	38.73	$	32.71
Market share units	55.44		37.40		31.85
Performance share units	55.17		37.40		32.33

Fair value of options or awards that vested during the year:
Stock options	$	—	$	11	$	23
Restricted stock units	68		74		74
Market share units	49		30		18
Performance share units	90		90		56

Total intrinsic value of stock options exercised during the year	$	199	$	323	$	153

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, 2014 (amounts in millions, except per share data):



	Options Outstanding and Exercisable
Range of Exercise Prices	Number Outstanding and Exercisable (in thousands)	Weighted-Average Remaining Contractual Life (in years)	Weighted-Average Exercise Price Per Share		Aggregate Intrinsic Value
$1 - $20	4,886	4.17	$	17.53	$	203
$20 - $30	10,691	1.97	24.46		369
	15,577	2.66	$	22.29	$	572

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)

Schedule of Quarterly Financial Information [Table Text Block]



Dollars in Millions, except per share data	First Quarter			Second Quarter			Third Quarter		Fourth Quarter		Year
2014
Total Revenues	$	3,811		$	3,889		$	3,921	$	4,258	$	15,879
Gross Margin	2,843			2,898			2,914		3,292		11,947
Net Earnings	936			334			732		27		2,029
Net Earnings/(Loss) Attributable to:
Noncontrolling Interest	(1		)	1			11		14		25
BMS	937			333			721		13		2,004

Earnings per Share - Basic^(a)	$	0.57		$	0.20		$	0.43	$	0.01	$	1.21
Earnings per Share - Diluted^(a)	0.56			0.20			0.43		0.01		1.20

Cash dividends declared per common share	$	0.36		$	0.36		$	0.36	$	0.37	$	1.45

Cash and cash equivalents	$	5,225		$	4,282		$	4,851	$	5,571	$	5,571
Marketable securities^(b)	5,392			6,769			6,698		6,272		6,272
Total Assets	33,424			33,503			33,450		33,749		33,749
Long-term debt	7,367			7,372			7,267		7,242		7,242
Equity	15,531			15,379			15,201		14,983		14,983

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^(a)	$	0.37		$	0.33		$	0.42	$	0.44	$	1.56
Earnings per Share - Diluted^(a)	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^(b)	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^(c)	7,180			7,122			6,562		7,981		7,981
Equity	13,699			14,373			14,714		15,236		15,236



(a)	Earnings per share for the quarters may not add to the amounts for the year, as each period is computed on a discrete basis.
(b)	Marketable securities includes current and non-current assets.
(c)	Also includes the current portion of long-term debt.

Selected Quarterly Data Specified Items [Table Text Block]

The following specified items affected the comparability of results in 2014 and 2013:

2014



Dollars in Millions	First Quarter			Second Quarter				Third Quarter			Fourth Quarter			Year
Cost of products sold^(a)	45			39				36			31			151

Additional year of Branded Prescription Drug Fee	—			—				96			—			96
Process standardization implementation costs	3			3				2			1			9
Marketing, selling and administrative	3			3				98			1			105

Upfront, milestone and other payments	15			148				65			50			278
IPRD impairments	33			310				—			—			343
Research and development	48			458				65			50			621

Provision for restructuring	21			16				35			91			163
Gain on sale of product lines, businesses and assets	(259		)	12				(315		)	3			(559		)
Pension curtailments, settlements and special termination benefits	64			45				28			740			877
Acquisition and alliance related items^(b)	16			17				39			—			72
Litigation charges/(recoveries)	25			(23		)		10			15			27
Loss on debt redemption	45			—				—			—			45
Out-licensed intangible asset impairment	—			—				—			11			11
Upfront, milestone and other licensing receipts	—			—			—	—			(10		)	(10		)
Other (income)/expense	(88		)	67				(203		)	850			626

Increase/(decrease) to pretax income	8			567				(4		)	932			1,503

Income tax on items above	(179		)	(102		)		33			(297		)	(545		)
Specified tax charge^(c)	—			—				—			123			123
Income taxes	(179		)	(102		)		33			(174		)	(422		)
Increase/(decrease) to net earnings	$	(171	)	$	465			$	29		$	758		$	1,081



(a)	Specified items in cost of products sold are accelerated depreciation, asset impairment and other shutdown costs.
(b)	Includes $16 million of additional year of Branded Prescription Drug Fee in the third quarter.
(c)	Specified tax charge relates to transfer pricing matters.

2013



Dollars in Millions	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Year
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 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.

ACCOUNTING POLICIES (Details) (USD $)

In Millions, unless otherwise specified

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Direct Operating Costs [Abstract]

Shipping and handling costs

$ 115

$ 119

$ 125

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 (Major Customers) (Details)

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

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

20.00%

19.00%

23.00%

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

12.00%

14.00%

19.00%

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

17.00%

15.00%

14.00%

BUSINESS SEGMENT INFORMATION (Geographic Information) (Details) (USD $)

In Millions, unless otherwise specified

3 Months Ended

12 Months Ended

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Revenues from External Customers and Long-Lived Assets [Line Items]

Total Revenues

$ 4,258

$ 3,921

$ 3,889

$ 3,811

$ 4,441

$ 4,065

$ 4,048

$ 3,831

$ 15,879

$ 16,385

$ 17,621

Property, Plant and Equipment

4,417

4,579

4,417

4,579

United States [Member]

Revenues from External Customers and Long-Lived Assets [Line Items]

Total Revenues

7,716

8,318

10,384

Property, Plant and Equipment

3,686

3,708

3,686

3,708

Europe [Member]

Revenues from External Customers and Long-Lived Assets [Line Items]

Total Revenues

3,592

3,930

3,706

Property, Plant and Equipment

597

729

597

729

Rest Of World [Member]

Revenues from External Customers and Long-Lived Assets [Line Items]

Total Revenues

3,459

3,295

3,204

Property, Plant and Equipment

134

142

134

142

Other Region [Member]

Revenues from External Customers and Long-Lived Assets [Line Items]

Total Revenues

$ 1,112

$ 842

$ 327

BUSINESS SEGMENT INFORMATION (Net Sales of Key Products) (Details) (USD $)

In Millions, unless otherwise specified

3 Months Ended

12 Months Ended

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Segment Reporting Information [Line Items]

Total Revenues

$ 4,258

$ 3,921

$ 3,889

$ 3,811

$ 4,441

$ 4,065

$ 4,048

$ 3,831

$ 15,879

$ 16,385

$ 17,621

Alliance and other revenues

4,219

4,081

3,967

Baraclude [Member]

Segment Reporting Information [Line Items]

Total Revenues

1,441

1,527

1,388

Hepatitis C Franchise [Member]

Segment Reporting Information [Line Items]

Total Revenues

256

Reyataz [Member]

Segment Reporting Information [Line Items]

Total Revenues

1,362

1,551

1,521

Sustiva Franchise [Member]

Segment Reporting Information [Line Items]

Total Revenues

1,444

1,614

1,527

Alliance and other revenues

1,255

1,366

1,267

Erbitux [Member]

Segment Reporting Information [Line Items]

Total Revenues

723

696

702

Opdivo [Member]

Segment Reporting Information [Line Items]

Total Revenues

6

Sprycel [Member]

Segment Reporting Information [Line Items]

Total Revenues

1,493

1,280

1,019

Yervoy [Member]

Segment Reporting Information [Line Items]

Total Revenues

1,308

960

706

Abilify [Member]

Segment Reporting Information [Line Items]

Total Revenues

2,020

2,289

2,827

Alliance and other revenues

1,778

1,840

2,340

Orencia [Member]

Segment Reporting Information [Line Items]

Total Revenues

1,652

1,444

1,176

Eliquis [Member]

Segment Reporting Information [Line Items]

Total Revenues

774

146

2

Diabetes Alliance [Member]

Segment Reporting Information [Line Items]

Total Revenues

295

1,683

972

Mature Products And All Other [Member]

Segment Reporting Information [Line Items]

Total Revenues

3,105

3,195

5,781

Daklinza [Member]

Segment Reporting Information [Line Items]

Total Revenues

201

Sunvepra [Member]

Segment Reporting Information [Line Items]

Total Revenues

55

Plavix [Member]

Segment Reporting Information [Line Items]

Total Revenues

208

258

2,547

Avapro Avalide [Member]

Segment Reporting Information [Line Items]

Total Revenues

$ 211

$ 231

$ 503

ALLIANCES (Otsuka) (Details) (USD $)

In Millions, unless otherwise specified

3 Months Ended

12 Months Ended

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2014

Abilify [Member]

Dec. 31, 2013

Abilify [Member]

Dec. 31, 2012

Abilify [Member]

Dec. 31, 2014

Alliance Partners [Member]

Dec. 31, 2013

Alliance Partners [Member]

Dec. 31, 2012

Alliance Partners [Member]

Dec. 31, 2014

Otsuka [Member]

Dec. 31, 2013

Otsuka [Member]

Dec. 31, 2012

Otsuka [Member]

Dec. 31, 2014

Otsuka [Member]

United States [Member]

Abilify [Member]

Dec. 31, 2013

Otsuka [Member]

United States [Member]

Abilify [Member]

Dec. 31, 2012

Otsuka [Member]

United States [Member]

Abilify [Member]

Dec. 31, 2014

Otsuka [Member]

United States [Member]

Abilify [Member]

Annual net sales up to 2 Point 7 billion [Member]

Dec. 31, 2014

Otsuka [Member]

United States [Member]

Abilify [Member]

Annual net sales between 2 Point 7 billion and 3 Point 2 billion [Member]

Dec. 31, 2014

Otsuka [Member]

United States [Member]

Abilify [Member]

Annual net sales between 3 Point 2 billion and 3 Point 7 billion [Member]

Dec. 31, 2014

Otsuka [Member]

United States [Member]

Abilify [Member]

Annual net sales between 3 Point 7 billion and 4 Point 0 billion [Member]

Dec. 31, 2014

Otsuka [Member]

United States [Member]

Abilify [Member]

Annual net sales between 4 Point 0 billion and 4 Point 2 billion [Member]

Dec. 31, 2014

Otsuka [Member]

United States [Member]

Abilify [Member]

Annual net sales over 4 Point 2 billion [Member]

Dec. 31, 2014

Otsuka [Member]

United States [Member]

Abilify [Member]

Extension payment [Member]

Dec. 31, 2013

Otsuka [Member]

United States [Member]

Abilify [Member]

Extension payment [Member]

Apr. 30, 2009

Otsuka [Member]

United States [Member]

Abilify [Member]

Extension payment [Member]

Dec. 31, 2012

Otsuka [Member]

United States [Member]

Abilify [Member]

Upfront, milestone and other licensing payments [Member]

Dec. 31, 2014

Otsuka [Member]

European Union [Member]

Abilify [Member]

Dec. 31, 2014

Otsuka [Member]

Oncology Territory [Member]

Sprycel and Ixempra [Member]

Dec. 31, 2013

Otsuka [Member]

Oncology Territory [Member]

Sprycel and Ixempra [Member]

Dec. 31, 2012

Otsuka [Member]

Oncology Territory [Member]

Sprycel and Ixempra [Member]

Dec. 31, 2014

Otsuka [Member]

Oncology Territory [Member]

Sprycel and Ixempra [Member]

Operating expense up to $175 million [Member]

Dec. 31, 2014

Otsuka [Member]

Oncology Territory [Member]

Sprycel and Ixempra [Member]

Operating expenses over $175 million [Member]

Dec. 31, 2014

Otsuka [Member]

Oncology Territory [Member]

Sprycel and Ixempra [Member]

Annual net sales up to $400 million [Member]

Dec. 31, 2012

Otsuka [Member]

Oncology Territory [Member]

Sprycel and Ixempra [Member]

Annual net sales up to $400 million [Member]

Dec. 31, 2014

Otsuka [Member]

Oncology Territory [Member]

Sprycel and Ixempra [Member]

Annual net sales between $400 and $600 million [Member]

Dec. 31, 2012

Otsuka [Member]

Oncology Territory [Member]

Sprycel and Ixempra [Member]

Annual net sales between $400 and $600 million [Member]

Dec. 31, 2014

Otsuka [Member]

Oncology Territory [Member]

Sprycel and Ixempra [Member]

Annual net sales between $600 and $800 million [Member]

Dec. 31, 2012

Otsuka [Member]

Oncology Territory [Member]

Sprycel and Ixempra [Member]

Annual net sales between $600 and $800 million [Member]

Dec. 31, 2014

Otsuka [Member]

Oncology Territory [Member]

Sprycel and Ixempra [Member]

Annual net sales between $800 million and $1 billion [Member]

Dec. 31, 2012

Otsuka [Member]

Oncology Territory [Member]

Sprycel and Ixempra [Member]

Annual net sales between $800 million and $1 billion [Member]

Dec. 31, 2014

Otsuka [Member]

Oncology Territory [Member]

Sprycel and Ixempra [Member]

Annual net sales over $1 billion [Member]

Dec. 31, 2012

Otsuka [Member]

Oncology Territory [Member]

Sprycel and Ixempra [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%

Net product sales

$ 11,660

$ 12,304

$ 13,654

$ 3,531

$ 4,417

$ 6,124

$ 1,493

$ 1,543

$ 1,386

Alliance and other revenues

4,219

4,081

3,967

1,778

1,840

2,340

3,828

3,804

3,748

1,778

1,840

2,340

Total Revenues

4,258

3,921

3,889

3,811

4,441

4,065

4,048

3,831

15,879

16,385

17,621

2,020

2,289

2,827

7,359

8,221

9,872

3,271

3,383

3,726

Payments to/(from) alliance partner- Cost of products sold

1,394

1,356

1,706

3

2

Payments to/(from) alliance partner - Marketing, selling and administrative

44

(125)

(80)

61

34

7

Payments to/(from) alliance partner - Advertising and product promotion

90

(58)

(97)

32

(42)

(49)

Payments to/(from) alliance partner - Research and development

(70)

(140)

4

3

(5)

(7)

Payments to/(from) alliance partners - Other (income)/expense

(1,076)

(313)

(489)

Noncontrolling interest, pre-tax

38

36

844

Receivables - from alliance partners

888

1,122

888

1,122

Accounts payable - to alliance partners

1,479

1,396

1,479

1,396

Deferred income

1,937

1,525

1,937

1,525

1,493

5,089

Deferred income from alliances included in liabilities related to assets held-for-sale

3,671

Percentage of net sales recognized from alliance

33.00%

34.00%

51.50%

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%

2.00%

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

297

295

138

Cost of products sold - Royalties

90

86

78

Cost of products sold - Amortization of intangible assets

286

858

607

5

Cost of products sold - Cost of product supply

67

135

153

Other assets - extension payment

621

1,428

621

1,428

21

87

Amortization of the extension payment

66

Other Nonoperating Income (Expense)

$ (210)

$ (205)

$ 80

$ (9)

ALLIANCES (AstraZeneca) (Details) (USD $)

3 Months Ended

12 Months Ended

3 Months Ended

12 Months Ended

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Sep. 30, 2014

AstraZeneca [Member]

Dec. 31, 2016

AstraZeneca [Member]

Dec. 31, 2015

AstraZeneca [Member]

Dec. 31, 2014

AstraZeneca [Member]

Dec. 31, 2013

AstraZeneca [Member]

Dec. 31, 2012

AstraZeneca [Member]

Dec. 31, 2013

AstraZeneca [Member]

Amylin Acquisition [Member]

Dec. 31, 2012

AstraZeneca [Member]

Amylin Acquisition [Member]

Dec. 31, 2013

AstraZeneca [Member]

Upfront, milestone and other licensing payments [Member]

Dec. 31, 2014

AstraZeneca [Member]

Assets Not Yet Transferred to Alliance Partner [Member]

Dec. 31, 2014

AstraZeneca [Member]

Services Not Yet Performed For Alliance Partner [Member]

Dec. 31, 2014

AstraZeneca [Member]

Onglyza, Kombiglyze and Forxiga [Member]

Dec. 31, 2013

AstraZeneca [Member]

Onglyza Kombiglyze [Member]

Upfront, milestone and other licensing payments [Member]

Dec. 31, 2017

AstraZeneca [Member]

Amylin Related Products [Member]

Dec. 31, 2016

AstraZeneca [Member]

Amylin Related Products [Member]

Dec. 31, 2015

AstraZeneca [Member]

Amylin Related Products [Member]

Dec. 31, 2013

AstraZeneca [Member]

Amylin Related Products [Member]

Dec. 31, 2012

AstraZeneca [Member]

Amylin Related Products [Member]

Dec. 31, 2013

AstraZeneca [Member]

Farxiga [Member]

Upfront, milestone and other licensing payments [Member]

Dec. 31, 2014

AstraZeneca [Member]

Onglyza Kombiglyze Farxiga [Member]

Dec. 31, 2013

AstraZeneca [Member]

Onglyza Kombiglyze Farxiga [Member]

Dec. 31, 2012

AstraZeneca [Member]

Onglyza Kombiglyze Farxiga [Member]

Dec. 31, 2014

AstraZeneca [Member]

Onglyza Kombiglyze Farxiga And Amylin Related Products [Member]

Dec. 31, 2013

AstraZeneca [Member]

Onglyza Kombiglyze Farxiga And Amylin Related Products [Member]

Dec. 31, 2012

AstraZeneca [Member]

Onglyza Kombiglyze Farxiga And Amylin Related Products [Member]

Dec. 31, 2013

AstraZeneca [Member]

Bydureon [Member]

Dec. 31, 2013

AstraZeneca [Member]

Byetta [Member]

Dec. 31, 2013

AstraZeneca [Member]

Symlin [Member]

Dec. 31, 2013

AstraZeneca [Member]

Myalept [Member]

Dec. 31, 2018

Maximum [Member]

AstraZeneca [Member]

Onglyza, Kombiglyze and Forxiga [Member]

Dec. 31, 2017

Maximum [Member]

AstraZeneca [Member]

Onglyza, Kombiglyze and Forxiga [Member]

Dec. 31, 2016

Maximum [Member]

AstraZeneca [Member]

Onglyza, Kombiglyze and Forxiga [Member]

Dec. 31, 2015

Maximum [Member]

AstraZeneca [Member]

Onglyza, Kombiglyze and Forxiga [Member]

Dec. 31, 2014

Maximum [Member]

AstraZeneca [Member]

Onglyza, Kombiglyze and Forxiga [Member]

Dec. 31, 2018

Maximum [Member]

AstraZeneca [Member]

Amylin Related Products [Member]

Dec. 31, 2018

Minimum [Member]

AstraZeneca [Member]

Onglyza, Kombiglyze and Forxiga [Member]

Dec. 31, 2017

Minimum [Member]

AstraZeneca [Member]

Onglyza, Kombiglyze and Forxiga [Member]

Dec. 31, 2016

Minimum [Member]

AstraZeneca [Member]

Onglyza, Kombiglyze and Forxiga [Member]

Dec. 31, 2015

Minimum [Member]

AstraZeneca [Member]

Onglyza, Kombiglyze and Forxiga [Member]

Dec. 31, 2014

Minimum [Member]

AstraZeneca [Member]

Onglyza, Kombiglyze and Forxiga [Member]

Dec. 31, 2018

Minimum [Member]

AstraZeneca [Member]

Amylin Related Products [Member]

Alliances Statement [Line Items]

Number of agreements in alliance

3

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 intangible asset

13 years 0 months 0 days

7 years 0 months 0 days

9 years 0 months 0 days

12 years 0 months 0 days

Useful life of property, plant and equipment

15 years 0 months 0 days

The percentage of capital expenditures to be reimbursed by AstraZeneca

50.00%

Total upfront, milestone and other licensing payments received to date

300,000,000

250,000,000

Annual limit on development agreement costs

115,000,000

Proceeds received at closing for sale of business

2,700,000,000

Total contingent regulatory and sales based milestone payments

1,400,000,000

Contingent approval milestones

800,000,000

Total contingent sales based milestones

600,000,000

Contingent payments related to transfer of certain assets and businesses

225,000,000

Royalty rate on net sales

5.00%

2.00%

25.00%

12.00%

27.00%

35.00%

44.00%

12.00%

14.00%

12.00%

9.00%

7.00%

3.00%

5.00%

Royalty rate sales threshold - Minimum

500,000,000

Royalty rate sales threshold - Maximum

500,000,000

Business sale total consideration received

3,800,000,000

Contingent regulatory milestone consideration received

700,000,000

Portion of proceeds allocated to the sale of business

3,300,000,000

Portion of proceeds allocated to undelivered elements

492,000,000

Total earned royalties

235,000,000

Allocation of goodwill to disposal group

600,000,000

Reversal of deferred tax liabilities attributed to inside tax basis of disposal group

821,000,000

Net product sales

11,660,000,000

12,304,000,000

13,654,000,000

160,000,000

1,658,000,000

962,000,000

Alliance and other revenues

4,219,000,000

4,081,000,000

3,967,000,000

135,000,000

16,000,000

10,000,000

Total Revenues

4,258,000,000

3,921,000,000

3,889,000,000

3,811,000,000

4,441,000,000

4,065,000,000

4,048,000,000

3,831,000,000

15,879,000,000

16,385,000,000

17,621,000,000

295,000,000

1,674,000,000

972,000,000

Cost of products sold - Profit sharing

79,000,000

673,000,000

425,000,000

Cost of products sold - Amortization of deferred income

(307,000,000)

(126,000,000)

Payments to/(from) alliance partner- Cost of products sold

(9,000,000)

(25,000,000)

(4,000,000)

Payments to/(from) alliance partner - Marketing, selling and administrative

(6,000,000)

(127,000,000)

(66,000,000)

Payments to/(from) alliance partner - Advertising and product promotion

(2,000,000)

(45,000,000)

(43,000,000)

Payments to/(from) alliance partner - Research and development

(16,000,000)

(86,000,000)

(25,000,000)

Other (income)/expense - Amortization of deferred income

(80,000,000)

(31,000,000)

(38,000,000)

Provision for restructuring

(2,000,000)

(25,000,000)

(21,000,000)

Royalties

(192,000,000)

Transitional services

(90,000,000)

Gain on sale of business

292,000,000

(536,000,000)

Deferred income - Cash flow

613,000,000

965,000,000

295,000,000

315,000,000

215,000,000

3,547,000,000

Business divestitures and other proceeds

3,585,000,000

9,000,000

68,000,000

3,495,000,000

Deferred income from alliances included in liabilities related to assets held-for-sale

3,671,000,000

Deferred income

$ 1,937,000,000

$ 1,525,000,000

$ 1,937,000,000

$ 1,525,000,000

$ 176,000,000

$ 226,000,000

ALLIANCES (Gilead) (Details) (USD $)

In Millions, unless otherwise specified

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Alliances Statement [Line Items]

Alliance and other revenues

$ 4,219

$ 4,081

$ 3,967

Equity in net loss of affiliates

(107)

(166)

(183)

Deferred income

1,937

1,525

Gilead [Member] |
Bulk efavirenz component of Atripla [Member]

Alliances Statement [Line Items]

Total numbers of months to receive royalty payment from alliance partner

36 months

Percentage of net sales recognized first year following the termination

55.00%

Percentage of net sales recognized second year following the termination

35.00%

Percentage of net sales recognized third year following the termination of the agreement

15.00%

Alliance and other revenues

1,255

1,366

1,267

Equity in net loss of affiliates

39

17

18

Deferred income

$ 316

$ 468

ALLIANCES (Lilly) (Details) (USD $)

3 Months Ended

12 Months Ended

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Alliances Statement [Line Items]

Net product sales

$ 11,660,000,000

$ 12,304,000,000

$ 13,654,000,000

Alliance and other revenues

4,219,000,000

4,081,000,000

3,967,000,000

Total Revenues

4,258,000,000

3,921,000,000

3,889,000,000

3,811,000,000

4,441,000,000

4,065,000,000

4,048,000,000

3,831,000,000

15,879,000,000

16,385,000,000

17,621,000,000

Cost of products sold - Amortization of intangible assets

286,000,000

858,000,000

607,000,000

Other (income)/expense

210,000,000

205,000,000

(80,000,000)

Other intangible assets- Non-refundable upfront, milestone and other licensing payments

1,753,000,000

2,318,000,000

1,753,000,000

2,318,000,000

Erbitux [Member]

Alliances Statement [Line Items]

Total Revenues

723,000,000

696,000,000

702,000,000

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

137,000,000

174,000,000

137,000,000

174,000,000

Lilly [Member] |
Erbitux [Member]

Alliances Statement [Line Items]

Net product sales

691,000,000

696,000,000

702,000,000

Alliance and other revenues

32,000,000

Total Revenues

723,000,000

696,000,000

702,000,000

Cost of products sold - Cost of product supply

69,000,000

65,000,000

81,000,000

Cost reimbursements to/(from) alliance partner

(13,000,000)

23,000,000

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

Lilly [Member] |
Erbitux [Member] |
North America [Member]

Alliances Statement [Line Items]

Distribution fee, percentage of net sales

39.00%

Cost of products sold - Distribution fees and royalty

287,000,000

289,000,000

291,000,000

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)

ALLIANCES (Sanofi) (Details) (USD $)

In Millions, unless otherwise specified

3 Months Ended

12 Months Ended

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2014

Avapro Avalide [Member]

Dec. 31, 2013

Avapro Avalide [Member]

Dec. 31, 2012

Avapro Avalide [Member]

Dec. 31, 2014

Sanofi [Member]

Avapro Avalide [Member]

Active Pharmaceutical Ingredient Supply Arrangements [Member]

Dec. 31, 2013

Sanofi [Member]

Avapro Avalide [Member]

Active Pharmaceutical Ingredient Supply Arrangements [Member]

Dec. 31, 2012

Sanofi [Member]

Avapro Avalide [Member]

Active Pharmaceutical Ingredient Supply Arrangements [Member]

Dec. 31, 2018

Sanofi [Member]

Avapro, Avalide, and Plavix [Member]

Dec. 31, 2014

Sanofi [Member]

Avapro, Avalide, and Plavix [Member]

Dec. 31, 2013

Sanofi [Member]

Avapro, Avalide, and Plavix [Member]

Dec. 31, 2012

Sanofi [Member]

Avapro, Avalide, and Plavix [Member]

Dec. 31, 2014

Sanofi [Member]

Territory Covering Americas and Australia [Member]

Avapro, Avalide, and Plavix [Member]

Dec. 31, 2013

Sanofi [Member]

Territory Covering Americas and Australia [Member]

Avapro, Avalide, and Plavix [Member]

Dec. 31, 2012

Sanofi [Member]

Territory Covering Americas and Australia [Member]

Avapro, Avalide, and Plavix [Member]

Dec. 31, 2014

Sanofi [Member]

Territory Covering Europe and Asia [Member]

Avapro, Avalide, and Plavix [Member]

Dec. 31, 2013

Sanofi [Member]

Territory Covering Europe and Asia [Member]

Avapro, Avalide, and Plavix [Member]

Dec. 31, 2012

Sanofi [Member]

Territory Covering Europe and Asia [Member]

Avapro, Avalide, and Plavix [Member]

Dec. 31, 2014

Sanofi [Member]

Territory Covering Europe and Asia [Member]

Avapro, Avalide, and Plavix [Member]

Discovery Royalties [Member]

Dec. 31, 2013

Sanofi [Member]

Territory Covering Europe and Asia [Member]

Avapro, Avalide, and Plavix [Member]

Discovery Royalties [Member]

Dec. 31, 2012

Sanofi [Member]

Territory Covering Europe and Asia [Member]

Avapro, Avalide, and Plavix [Member]

Discovery Royalties [Member]

Dec. 31, 2014

Sanofi [Member]

Territory Covering Europe and Asia [Member]

Avapro, Avalide, and Plavix [Member]

Receivables And Payables Net Cash Distributions Intercompany Balances [Member]

Dec. 31, 2013

Sanofi [Member]

Territory Covering Europe and Asia [Member]

Avapro, Avalide, and Plavix [Member]

Receivables And Payables Net Cash Distributions Intercompany Balances [Member]

Dec. 31, 2012

Sanofi [Member]

Territory Covering Europe and Asia [Member]

Avapro, Avalide, and Plavix [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%

Noncontrolling interest ownership percentage

49.90%

Net product sales

11,660

12,304

13,654

102

153

2,930

Alliance and other revenues

4,219

4,081

3,967

90

116

117

317

336

120

Total Revenues

4,258

3,921

3,889

3,811

4,441

4,065

4,048

3,831

15,879

16,385

17,621

211

231

503

419

489

3,050

Royalty revenue

223

220

Development and opt-out royalty income

143

Development royalty expense

2

67

Previously deferred profit recognized upon restructuring of an alliance agreement

22

Cost of products sold - Cost of product supply

2

4

81

Cost of products sold - Royalties

4

530

Equity in net income of affiliates

(107)

(166)

(183)

(146)

(183)

(201)

Other (income)/expense

210

205

(80)

(18)

(171)

Noncontrolling interest - pre-tax

38

36

844

Distribution (to)/from Sanofi - Noncontrolling interest

49

(29)

740

(49)

43

(742)

Distributions from Sanofi - Noncontrolling interest

153

149

229

Investment in affiliates

32

43

Noncontrolling interest

131

82

131

82

15

(89)

38

49

Net sales

360

395

1,077

Gross profit

297

319

453

Net income

292

313

394

Cost of products sold

32

38

133

Current assets and current liabilities

$ 94

$ 108

$ 293

ALLIANCES (Pfizer) (Details) (USD $)

In Millions, unless otherwise specified

3 Months Ended

12 Months Ended

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Alliances Statement [Line Items]

Net product sales

$ 11,660

$ 12,304

$ 13,654

Alliance and other revenues

4,219

4,081

3,967

Total Revenues

4,258

3,921

3,889

3,811

4,441

4,065

4,048

3,831

15,879

16,385

17,621

Deferred income - Cash flow

613

965

295

Deferred income

1,937

1,525

1,937

1,525

Eliquis [Member]

Alliances Statement [Line Items]

Total Revenues

774

146

2

Pfizer [Member]

Alliances Statement [Line Items]

Net product sales

771

144

2

Alliance and other revenues

3

2

Total Revenues

774

146

2

Pfizer [Member] |
Eliquis [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%

Cost of products sold - Profit sharing

363

69

1

Cost reimbursements to/(from) alliance partner

26

4

(11)

Pfizer [Member] |
Eliquis [Member] |
Upfront, milestone and other licensing payments [Member]

Alliances Statement [Line Items]

Total upfront, milestone and other licensing payments received to date

864

Other (income)/expense - Amortization of deferred income

(50)

(41)

(37)

Deferred income - Cash flow

100

205

20

Deferred income

$ 611

$ 581

$ 611

$ 581

ALLIANCES (Reckitt Benckiser Group) (Details) (USD $)

In Millions, unless otherwise specified

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Alliances Statement [Line Items]

Net product sales

$ 11,660

$ 12,304

$ 13,654

Alliance and other revenues

4,219

4,081

3,967

Other changes in operating assets and liabilities

33

760

1,189

Deferred income

1,937

1,525

Reckitt Benckiser Group [Member]

Alliances Statement [Line Items]

Number of years in alliance period

3

Charge included in other expenses to increase fair value of option

15

Alliance and other revenues

170

116

Other changes in operating assets and liabilities

20

109

Deferred income

155

290

Reckitt Benckiser Group [Member] |
Upfront, milestone and other licensing payments [Member]

Alliances Statement [Line Items]

Deferred income - Cash flow

376

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

Written Option Liability [Member]

Alliances Statement [Line Items]

Charge included in other expenses to increase fair value of option

(36)

Fair value of option

198

162

Written Option Liability [Member] |
Reckitt Benckiser Group [Member]

Alliances Statement [Line Items]

Fair value of option

$ 129

ALLIANCES (The Medicines Company) (Details) (USD $)

In Millions, unless otherwise specified

12 Months Ended

3 Months Ended

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Mar. 31, 2015

The Medicines Company [Member]

Dec. 31, 2014

The Medicines Company [Member]

Dec. 31, 2013

The Medicines Company [Member]

Dec. 31, 2013

The Medicines Company [Member]

Upfront, milestone and other licensing payments [Member]

Dec. 31, 2012

The Medicines Company [Member]

Recothrom [Member]

Dec. 31, 2014

The Medicines Company [Member]

Recothrom [Member]

Dec. 31, 2013

The Medicines Company [Member]

Recothrom [Member]

Upfront, milestone and other licensing payments [Member]

Dec. 31, 2014

Written Option Liability [Member]

Dec. 31, 2013

Written Option Liability [Member]

Dec. 31, 2014

Written Option Liability [Member]

The Medicines Company [Member]

Alliances Statement [Line Items]

Number of years in alliance period

2

Net product sales

$ 11,660

$ 12,304

$ 13,654

$ 67

Proceeds from divestiture of business

132

Upfront, milestone and other licensing payments received

115

Fair value of option

198

162

35

Alliance and other revenues

4,219

4,081

3,967

66

74

Deferred income - Cash flow

80

Other changes in operating assets and liabilities

33

760

1,189

35

Deferred income

$ 1,937

$ 1,525

$ 3

$ 44

ALLIANCES (Valeant) (Details) (USD $)

In Millions, unless otherwise specified

3 Months Ended

12 Months Ended

3 Months Ended

12 Months Ended

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Mar. 31, 2015

Valeant [Member]

Dec. 31, 2014

Valeant [Member]

Dec. 31, 2013

Valeant [Member]

Dec. 31, 2012

Valeant [Member]

Dec. 31, 2014

Written Option Liability [Member]

Dec. 31, 2013

Written Option Liability [Member]

Dec. 31, 2014

Written Option Liability [Member]

Valeant [Member]

Alliances Statement [Line Items]

Proceeds from divestiture of business

$ 61

Upfront, milestone and other licensing payments received

79

Charge included in other expenses to increase fair value of option

16

(36)

Fair value of option

198

162

34

Net product sales

11,660

12,304

13,654

4

5

Alliance and other revenues

4,219

4,081

3,967

44

49

5

Total Revenues

4,258

3,921

3,889

3,811

4,441

4,065

4,048

3,831

15,879

16,385

17,621

44

53

10

Deferred income - Cash flow

61

Other changes in operating assets and liabilities

33

760

1,189

16

18

Deferred income

$ 1,937

$ 1,525

$ 1,937

$ 1,525

$ 26

ALLIANCES (Ono) (Details) (USD $)

In Millions, unless otherwise specified

3 Months Ended

12 Months Ended

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Alliances Statement [Line Items]

Net product sales

$ 11,660

$ 12,304

$ 13,654

Alliance and other revenues

4,219

4,081

3,967

Total Revenues

4,258

3,921

3,889

3,811

4,441

4,065

4,048

3,831

15,879

16,385

17,621

Ono [Member]

Alliances Statement [Line Items]

Profit sharing involving only one compound - maximum

80.00%

Profit sharing involving only one compound - minimum

20.00%

Co-promotion fee percentage

60.00%

Net product sales

113

41

Alliance and other revenues

28

4

Total Revenues

141

45

Cost of products sold - Co-promotion fee

20

11

Payments to/(from) alliance partner - Research and development

$ (15)

$ (12)

$ (11)

North America [Member] |
Ono [Member]

Alliances Statement [Line Items]

Royalty rate due to regulatory approvals

4.00%

Other Territories [Member] |
Ono [Member]

Alliances Statement [Line Items]

Royalty rate due to regulatory approvals

15.00%

ALLIANCES (F-Star) (Details) (USD $)

In Millions, unless otherwise specified

12 Months Ended

Dec. 31, 2014

Alliances Statement [Line Items]

Change In Noncontrolling Interest Related to Variable Interest Entities

$ 59

F-Star [Member]

Alliances Statement [Line Items]

Option and licensing rights payment

50

Days following obtaining proof of concept

60 days

Option exercise payment

100

Consideration for contingent development and regulatory approval

325

Change In Noncontrolling Interest Related to Variable Interest Entities

59

Fair value of FS102 IPRD asset

$ 75

ACQUISITIONS (Details) (USD $)

In Millions, unless otherwise specified

12 Months Ended

Dec. 31, 2012

Dec. 31, 2014

Dec. 31, 2013

Acquisition [Line Items]

Impairment charge for BMS-986094 intangible asset

$ 1,830

Identifiable net assets and liabilities assumed - Goodwill

7,027

7,096

iPierian, Inc. [Member]

Acquisition [Line Items]

Asset acquisition upfront payment

175

Contingent and regulatory milestone payments

550

Asset acquisition upfront payment net of tax

148

Deferred tax assets related to asset acquisition

27

Amylin Pharmaceuticals, Inc. [Member]

Acquisition [Line Items]

Acquisition costs

29

Identifiable net assets and liabilities assumed - Cash

179

Identifiable net assets and liabilities assumed - Marketable securities

108

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

Identifiable net assets and liabilities assumed - Other assets

136

Identifiable net assets and liabilities assumed - Debt obligations

(2,020)

Identifiable net assets and liabilities assumed - Other liabilities

(339)

Identifiable net assets and liabilities assumed - Deferred income taxes

(1,068)

Identifiable net assets and liabilities assumed - Total identifiable net assets

4,371

Identifiable net assets and liabilities assumed - Goodwill

847

Identifiable net assets and liabilities assumed - Total consideration transferred

5,218

Cash paid to outstanding common stockholders of the acquiree

5,100

Cash paid to option and restricted stock unit holders

219

Stock-based compensation expense

94

Inhibitex, Inc. [Member]

Acquisition [Line Items]

Acquisition costs

12

Impairment charge for BMS-986094 intangible asset

1,800

Identifiable net assets and liabilities assumed - Cash

46

Identifiable net assets and liabilities assumed - Marketable securities

17

Identifiable net assets and liabilities assumed - In-process research and development

1,875

Identifiable net assets and liabilities assumed - Debt obligations

(23)

Identifiable net assets and liabilities assumed - Other liabilities

(10)

Identifiable net assets and liabilities assumed - Deferred income taxes

(579)

Identifiable net assets and liabilities assumed - Total identifiable net assets

1,326

Identifiable net assets and liabilities assumed - Goodwill

1,213

Identifiable net assets and liabilities assumed - Total consideration transferred

$ 2,539

ASSETS HELD-FOR-SALE (Details) (USD $)

In Millions, unless otherwise specified

Dec. 31, 2014

Mar. 31, 2014

Dec. 31, 2013

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Goodwill

$ 600

$ 550

Total assets held-for-sale

109

7,420

Short-term borrowings and current portion of long-term debt

27

Total liabilities related to assets held-for-sale

4,931

The Medicines Company and Valeant [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Inventories

38

Goodwill

19

Other intangible assets

52

Total assets held-for-sale

109

AstraZeneca [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Receivables

83

Inventories

163

Deferred income taxes - current

125

Prepaid expenses and other

20

Property, plant and equipment

678

Goodwill

550

Other intangible assets

5,682

Other assets

119

Total assets held-for-sale

7,420

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 (INCOME)/EXPENSE (Details) (USD $)

In Millions, unless otherwise specified

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Other Nonoperating Income (Expense) [Abstract]

Interest expense

$ 203

$ 199

$ 182

Investment income

(101)

(104)

(106)

Provision for restructuring

163

226

174

Litigation charges/(recoveries)

23

20

(45)

Equity in net income of affiliates

(107)

(166)

(183)

Out-licensed intangible asset impairment

29

38

Gain on sale of product lines, businesses and assets

(564)

(2)

(53)

Other alliance and licensing income

(404)

(148)

(312)

Pension curtailments, settlements and special termination benefits

877

165

158

Other

91

15

67

Other (income)/expense

$ 210

$ 205

$ (80)

RESTRUCTURING (Details) (USD $)

In Millions, unless otherwise specified

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2015

Specialty care transformation initiative [Member]

Restructuring Cost and Reserve [Line Items]

Employee termination benefits

$ 157

$ 211

$ 145

Other exit costs

6

15

29

Provision for restructuring

163

226

174

Workforce reduction of manufacturing, selling, administrative, and research and development personnel

1,387

1,450

1,205

Restructuring expected cost

100

Restructuring Reserve [Roll Forward]

Liability at January 1

102

167

77

Charges

155

249

178

Change in estimates

8

(23)

(4)

Foreign currency translation

(2)

4

(1)

Amylin acquisition

26

Liabilities related to assets held-for-sale

(67)

Spending

(107)

(228)

(109)

Liability at December 31

$ 156

$ 102

$ 167

INCOME TAXES (Provision for Income Taxes) (Details) (USD $)

In Millions, unless otherwise specified

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Current Income Tax Expense (Benefit), Continuing Operations [Abstract]

U.S. Current Income Tax Expense

$ 334

$ 375

$ 627

Non-U.S. Current Income Tax Expense

560

427

442

Total Current Income Tax Expense

894

802

1,069

Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract]

U.S. Deferred Income Tax Expense/(Benefit)

(403)

(390)

(1,164)

Non-U.S. Deferred Income Tax Expense/(Benefit)

(139)

(101)

(66)

Total Deferred Income Tax Expense/(Benefit)

(542)

(491)

(1,230)

Provision for/(Benefit from) Income Taxes

$ 352

$ 311

$ (161)

INCOME TAXES (Effective Tax Rate Reconciliation) (Details) (USD $)

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest [Abstract]

U.S. Earnings/(Loss) before income taxes

$ (349,000,000)

$ (135,000,000)

$ (271,000,000)

Non-U.S. Earnings before income taxes

2,730,000,000

3,026,000,000

2,611,000,000

Earnings Before Income Taxes

2,381,000,000

2,891,000,000

2,340,000,000

Effective Income Tax Rate Reconciliation, Amount [Abstract]

U.S. statutory rate, Amount

833,000,000

1,012,000,000

819,000,000

Foreign tax effect of certain operations in Ireland, Puerto Rico and Switzerland

(509,000,000)

(620,000,000)

(688,000,000)

U.S. tax effect of capital losses, Amount

(361,000,000)

(392,000,000)

U.S. Federal, state and foreign contingent tax matters, Amount

228,000,000

134,000,000

66,000,000

U.S. Federal research based credits, amount

(131,000,000)

(220,000,000)

(31,000,000)

Non-tax deductible goodwill related to diabetes divestiture, Amount

210,000,000

Non-tax deductible U.S. Branded Prescription Drug fee, Amount

84,000,000

63,000,000

90,000,000

Non-tax deductible research and development charge, Amount

52,000,000

State and local taxes (net of valuation allowance), Amount

20,000,000

25,000,000

20,000,000

Foreign and other, Amount

(74,000,000)

(83,000,000)

(45,000,000)

Provision for/(Benefit from) Income Taxes

352,000,000

311,000,000

(161,000,000)

Undistributed Earnings of Foreign Subsidiaries

24,000,000,000

Transfer pricing reserves

123,000,000

Retroactive reinstatement of the 2012 research and development tax credit recognized in 2013

$ 82,000,000

Effective Income Tax Rate Reconciliation, Percent [Abstract]

U.S. statutory income tax rate

35.00%

Foreign tax effect of certain operations in Ireland, Puerto Rico and Switzerland, Rate

(21.40%)

(29.40%)

U.S. tax effect of capital losses, Rate

(15.20%)

(16.70%)

U.S. Federal, state and foreign contingent tax matters, Rate

9.60%

4.60%

2.80%

U.S. Federal research based credits, Rate

(5.40%)

(7.60%)

(1.40%)

Non-tax deductible goodwill related to diabetes divestiture, Rate

8.80%

Non-tax deductible U.S. Branded Prescription Drug Fee, Rate

3.50%

2.20%

3.80%

Non-tax deductible research and development charge, Rate

2.20%

State and local taxes (net of valuation allowance), Rate

0.80%

0.90%

Foreign and other, Rate

(3.10%)

(2.90%)

(1.90%)

Effective income tax/(benefit) rate

14.80%

10.80%

(6.90%)

INCOME TAXES (Deferred Taxes and Valuation Allowance) (Details) (USD $)

In Millions, unless otherwise specified

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Components of Deferred Tax Assets [Abstract]

Foreign net operating loss carryforwards

$ 3,473

$ 3,892

Milestones payments and license fees

440

483

Deferred income

1,163

2,168

U.S. capital loss carryforwards

562

784

U.S. Federal net operating loss carryforwards

135

138

Pension and postretirement benefits

467

120

State net operating loss and credit carryforwards

337

377

Intercompany profit and other inventory items

531

495

U.S. Federal tax credit carryforwards

26

23

Other foreign deferred tax assets

202

187

Share-based compensation

95

107

Legal settlements

14

20

Repatriation of foreign earnings

94

49

Internal transfer of intellectual property

247

223

Other

311

357

Total deferred tax assets

8,097

9,423

Total deferred tax assets, net

3,838

4,800

Components of Deferred Tax Liabilities [Abstract]

Depreciation

(128)

(148)

Acquired intangible assets

(390)

(2,567)

Other

(832)

(780)

Total deferred tax liabilities

(1,350)

(3,495)

Deferred tax assets, net

2,488

1,305

Deferred Tax Assets, Net, Classification [Abstract]

Assets held-for-sale

125

Deferred income taxes, current

1,644

1,701

Deferred income taxes, noncurrent

915

508

U.S. foreign income taxes payable, current

(11)

(10)

Liabilities related to assets held-for-sale

(946)

Income taxes payable, noncurrent

(60)

(73)

Total

2,488

1,305

Valuation Allowance [Line Items]

Valuation allowance

(4,259)

(4,623)

Valuation Allowance of Deferred Tax Assets [Member]

Movement in Valuation Allowances and Reserves [Roll Forward]

Balance at beginning of year

4,623

4,404

3,920

Provision

140

252

494

Utilization

(109)

(68)

(145)

Foreign currency translation

(395)

40

39

Acquisitions

(5)

96

Balance at end of year

4,259

4,623

4,404

Foreign Net Operating Loss And Tax Credit Carryforwards [Member]

Valuation Allowance [Line Items]

Valuation allowance

(3,457)

State Net Operating Loss And Tax Credit Carryforwards [Member]

Valuation Allowance [Line Items]

Valuation allowance

(354)

US Federal Net Operating Loss Carryforwards [Member]

Valuation Allowance [Line Items]

Valuation allowance

(12)

Capital Loss Carryforward [Member]

Valuation Allowance [Line Items]

Valuation allowance

(436)

Domestic Tax Authority [Member]

Components of Deferred Tax Assets [Abstract]

Net operating loss carryforwards

386

Operating Loss Carryforwards [Line Items]

Net operating loss carryforwards

386

Capital Loss Carryforward [Member]

Components of Deferred Tax Assets [Abstract]

Net operating loss carryforwards

1,564

Operating Loss Carryforwards [Line Items]

Net operating loss carryforwards

$ 1,564

INCOME TAXES INCOME TAXES (Narrative) (Details) (USD $)

In Millions, unless otherwise specified

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Income Tax Disclosure [Abstract]

Income tax payments

$ 544

$ 478

$ 676

Current tax benefit realized as a result of stock related compensation credited to capital in excess of par value of stock

$ 131

$ 129

$ 71

INCOME TAXES (Unrecognized Tax Benefits) (Details) (USD $)

In Millions, unless otherwise specified

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]

Balance at beginning of year

$ 756

$ 642

$ 628

Gross additions to tax positions related to current year

106

74

46

Gross additions to tax positions related to prior years

218

108

66

Gross additions to tax positions assumed in acquisitions

31

Gross reductions to tax positions related to prior years

(57)

(87)

(57)

Settlements

(65)

26

(54)

Reductions to tax positions related to lapse of statute

(12)

(8)

(19)

Cumulative translation adjustment

1

Cumulative translation adjustment

(12)

Balance at end of year

934

756

642

Unrecognized tax benefits that would impact effective tax rate

668

508

633

New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification

236

Minimum estimated decrease in total amount of unrecognized tax benefits

310

Maximum estimated decrease in total amount of unrecognized tax benefits

370

Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued [Abstract]

Accrued interest

96

83

59

Accrued penalties

17

34

32

Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense [Abstract]

Interest expense

27

24

14

Penalty expense/(benefit)

$ (7)

$ 3

$ 16

EARNINGS PER SHARE (Details) (USD $)

In Millions, except Per Share data, unless otherwise specified

3 Months Ended

12 Months Ended

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Earnings Per Share [Abstract]

Net Earnings Attributable to BMS

$ 13

$ 721

$ 333

$ 937

$ 726

$ 692

$ 536

$ 609

$ 2,004

$ 2,563

$ 1,960

Earnings attributable to unvested restricted shares

(1)

Net Earnings Attributable to BMS common shareholders

$ 2,004

$ 2,563

$ 1,959

Earnings per Share - Basic

$ 0.01

$ 0.43

$ 0.20

$ 0.57

$ 0.44

$ 0.42

$ 0.33

$ 0.37

$ 1.21

$ 1.56

$ 1.17

Weighted-average common shares outstanding - basic

1,657

1,644

1,670

Contingently convertible debt common stock equivalents

1

Incremental shares attributable to share-based compensation plans

12

17

Weighted-average common shares outstanding - diluted

1,670

1,662

1,688

Earnings per Share - Diluted

$ 0.01

$ 0.43

$ 0.20

$ 0.56

$ 0.44

$ 0.42

$ 0.32

$ 0.37

$ 1.20

$ 1.54

$ 1.16

Anti-dilutive weighted-average equivalent shares - stock incentive plans

2

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Fair Value Measurements) (Details) (USD $)

In Millions, unless otherwise specified

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2014

Certificates of Deposit [Member]

Dec. 31, 2013

Certificates of Deposit [Member]

Dec. 31, 2014

Corporate Debt Securities [Member]

Dec. 31, 2013

Corporate Debt Securities [Member]

Dec. 31, 2014

Equity Funds [Member]

Dec. 31, 2013

Equity Funds [Member]

Dec. 31, 2014

Fixed Income Funds [Member]

Dec. 31, 2013

Fixed Income Funds [Member]

Dec. 31, 2014

Auction Rate Securities [Member]

Dec. 31, 2013

Auction Rate Securities [Member]

Dec. 31, 2014

Equity investments [Member]

Dec. 31, 2013

Auction Rate Securities And Floating Rate Securities [Member]

Dec. 31, 2014

Interest Rate Swap [Member]

Dec. 31, 2013

Interest Rate Swap [Member]

Dec. 31, 2014

Foreign Exchange Forward [Member]

Dec. 31, 2013

Foreign Exchange Forward [Member]

Dec. 31, 2014

Written Option Liability [Member]

Dec. 31, 2013

Written Option Liability [Member]

Dec. 31, 2014

Contingent Consideration Liability [Member]

Dec. 31, 2013

Contingent Consideration Liability [Member]

Dec. 31, 2012

Contingent Consideration Liability [Member]

Dec. 31, 2014

Fair Value Level 1 [Member]

Equity investments [Member]

Dec. 31, 2014

Fair Value Level 2 [Member]

Dec. 31, 2013

Fair Value Level 2 [Member]

Dec. 31, 2014

Fair Value Level 2 [Member]

Certificates of Deposit [Member]

Dec. 31, 2013

Fair Value Level 2 [Member]

Certificates of Deposit [Member]

Dec. 31, 2014

Fair Value Level 2 [Member]

Corporate Debt Securities [Member]

Dec. 31, 2013

Fair Value Level 2 [Member]

Corporate Debt Securities [Member]

Dec. 31, 2014

Fair Value Level 2 [Member]

Equity Funds [Member]

Dec. 31, 2013

Fair Value Level 2 [Member]

Equity Funds [Member]

Dec. 31, 2014

Fair Value Level 2 [Member]

Fixed Income Funds [Member]

Dec. 31, 2013

Fair Value Level 2 [Member]

Fixed Income Funds [Member]

Dec. 31, 2014

Fair Value Level 2 [Member]

Interest Rate Swap [Member]

Dec. 31, 2013

Fair Value Level 2 [Member]

Interest Rate Swap [Member]

Dec. 31, 2014

Fair Value Level 2 [Member]

Foreign Exchange Forward [Member]

Dec. 31, 2013

Fair Value Level 2 [Member]

Foreign Exchange Forward [Member]

Dec. 31, 2014

Fair Value Level 3 [Member]

Auction Rate Securities [Member]

Dec. 31, 2013

Fair Value Level 3 [Member]

Auction Rate Securities [Member]

Dec. 31, 2014

Fair Value Level 3 [Member]

Written Option Liability [Member]

Dec. 31, 2013

Fair Value Level 3 [Member]

Written Option Liability [Member]

Dec. 31, 2014

Fair Value Level 3 [Member]

Contingent Consideration Liability [Member]

Dec. 31, 2013

Fair Value Level 3 [Member]

Contingent Consideration Liability [Member]

Marketable Securities [Line Items]

Cash Equivalents, Fair Value

$ 5,051

$ 3,201

$ 5,051

$ 3,201

Available-for-sale securities, Fair value

6,203

4,566

896

122

5,259

4,432

12

36

896

122

5,259

4,432

12

Marketable securities, Fair value

6,272

4,686

6,698

6,769

5,392

4,574

4,201

4,420

94

74

11

46

94

74

11

46

Total derivatives at fair value, assets

46

64

118

50

46

64

118

50

Total derivatives at fair value, liabilities

(3)

(27)

(35)

(198)

(162)

(8)

(3)

(27)

(35)

(198)

(162)

(8)

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]

Fair value at January 1, Asset

511

536

12

31

Fair value at January 1, Liability

(162)

(18)

(8)

Additions from new alliances

(144)

Unrealized gains

(8)

40

1

Sales

(20)

Changes in fair value

(36)

Fair value at December 31, Asset

446

511

12

Fair value at December 31, Liability

$ 198

$ (162)

$ (8)

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Available-for-Sale) (Details) (USD $)

In Millions, unless otherwise specified

Dec. 31, 2014

Dec. 31, 2013

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Marketable securities, current

$ 1,864

$ 939

Marketable securities, noncurrent

4,408

3,747

Marketable Securities, Amortized Cost

6,156

4,532

Marketable Securities, Unrealized Gain in Accumulated OCI

55

47

Marketable Securities, Gross Unrealized Loss in Accumulated OCI

(8)

(13)

Available-for-sale securities

6,203

4,566

Available For Sale Securities - Marketable Securities

1,759

819

Certificates of Deposit [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Marketable Securities, Amortized Cost

896

122

Available-for-sale securities

896

122

Corporate Debt Securities [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Marketable Securities, Amortized Cost

5,237

4,401

Marketable Securities, Unrealized Gain in Accumulated OCI

30

44

Marketable Securities, Gross Unrealized Loss in Accumulated OCI

(8)

(13)

Available-for-sale securities

5,259

4,432

Auction Rate Securities [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Marketable Securities, Amortized Cost

9

Marketable Securities, Unrealized Gain in Accumulated OCI

3

Available-for-sale securities

12

Equity investments [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Marketable Securities, Amortized Cost

14

Marketable Securities, Unrealized Gain in Accumulated OCI

22

Available-for-sale securities

36

Equity investments [Member] |
Other assets [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Available-for-sale Securities, Noncurrent

$ 36

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Derivatives and Hedging) (Details)

In Millions, unless otherwise specified

12 Months Ended

Dec. 31, 2014

USD ($)

Dec. 31, 2014

EUR (€)

Dec. 31, 2014

Euro [Member]

USD ($)

Dec. 31, 2014

Japanese Yen [Member]

USD ($)

Dec. 31, 2014

Interest Rate Swap [Member]

USD ($)

Dec. 31, 2013

Interest Rate Swap [Member]

USD ($)

Dec. 31, 2014

Interest Rate Swap [Member]

Fair Value Level 2 [Member]

USD ($)

Dec. 31, 2013

Interest Rate Swap [Member]

Fair Value Level 2 [Member]

USD ($)

Dec. 31, 2014

Interest Rate Swap [Member]

Designated As Hedging Instrument [Member]

Other assets [Member]

USD ($)

Dec. 31, 2013

Interest Rate Swap [Member]

Designated As Hedging Instrument [Member]

Other assets [Member]

USD ($)

Dec. 31, 2014

Interest Rate Swap [Member]

Designated As Hedging Instrument [Member]

Other Noncurrent Liabilities [Member]

USD ($)

Dec. 31, 2013

Interest Rate Swap [Member]

Designated As Hedging Instrument [Member]

Other Noncurrent Liabilities [Member]

USD ($)

Dec. 31, 2014

Foreign Exchange Forward [Member]

USD ($)

Dec. 31, 2013

Foreign Exchange Forward [Member]

USD ($)

Dec. 31, 2014

Foreign Exchange Forward [Member]

Fair Value Level 2 [Member]

USD ($)

Dec. 31, 2013

Foreign Exchange Forward [Member]

Fair Value Level 2 [Member]

USD ($)

Dec. 31, 2014

Foreign Exchange Forward [Member]

Designated As Hedging Instrument [Member]

Other assets [Member]

USD ($)

Dec. 31, 2013

Foreign Exchange Forward [Member]

Designated As Hedging Instrument [Member]

Other assets [Member]

USD ($)

Dec. 31, 2013

Foreign Exchange Forward [Member]

Designated As Hedging Instrument [Member]

Accrued expenses [Member]

USD ($)

Dec. 31, 2013

Foreign Exchange Forward [Member]

Designated As Hedging Instrument [Member]

Other Noncurrent Liabilities [Member]

USD ($)

Dec. 31, 2014

Foreign Exchange Forward [Member]

Designated As Hedging Instrument [Member]

Prepaid Expenses and Other Current Assets [Member]

USD ($)

Dec. 31, 2013

Foreign Exchange Forward [Member]

Designated As Hedging Instrument [Member]

Prepaid Expenses and Other Current Assets [Member]

USD ($)

Dec. 31, 2014

Foreign Exchange Forward [Member]

Not Designated as Hedging Instrument [Member]

Prepaid Expenses and Other Current Assets [Member]

Japanese Yen [Member]

USD ($)

Derivatives and Hedging [Line Items]

Notional amount of derivatives

$ 536

$ 636

$ 200

$ 2,100

$ 847

$ 673

$ 1,050

$ 1,950

$ 100

$ 704

$ 263

$ 1,323

$ 301

$ 330

Total derivatives at fair value, assets

46

64

46

64

46

64

118

50

118

50

12

6

106

44

7

Total derivatives at fair value, liabilities

(3)

(27)

(3)

(27)

(3)

(27)

(35)

(31)

(4)

Period of reclassification to earnings, cash flow hedges

2

The period, in days, after a forecasted transaction after which cash flow hedge accounting is discontinued

60

Notional amount of nonderivative non-U.S. dollar borrowings designated as net investment hedges

662

541

LIBOR

0.17%

Variable rate debt, Lower range of basis point spread

(0.80%)

Variable rate debt, Higher range of basis point spread

2.90%

Terminated interest rate swaps, Notional amount

426

Terminated interest rate swaps, Total proceeds including accrued interest

119

Terminated interest rate swaps, Accrued interest

$ 10

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Debt Obligations) (Details) (USD $)

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Extinguishment of Debt Disclosures [Abstract]

Extinguishment of Debt, Principal Value

$ 582,000,000

$ 2,052,000,000

Extinguishment of Debt, Carrying Value

633,000,000

2,081,000,000

Extinguishment of Debt, Repurchase Price

676,000,000

2,108,000,000

Extinguishment of Debt, Notional amount of interest rate swaps terminated

500,000,000

6,000,000

Extinguishment of Debt, Swap Termination Proceeds/(Payments)

(4,000,000)

2,000,000

Extinguishment Of Debt, Total loss

45,000,000

27,000,000

Line of Credit Facility [Line Items]

Number of Revolving Credit Facilities

2

Debt Instrument [Line Items]

Short-term borrowings

590,000,000

359,000,000

Principal value

6,804,000,000

7,593,000,000

Adjustments to Principal Value, Fair value of interest rate swaps

43,000,000

37,000,000

Adjustments to Principal Value, Unamortized basis adjustment from swap terminations

454,000,000

442,000,000

Adjustments to Principal Value, Unamortized bond discounts

(59,000,000)

(64,000,000)

Long-term debt Total

7,242,000,000

8,008,000,000

Current portion of long-term debt

27,000,000

Long-term debt

7,242,000,000

7,981,000,000

Long-term debt, Fair value

8,045,000,000

8,487,000,000

Unsecured Debt

1,500,000,000

2,000,000,000

Total

7,267,000,000

7,372,000,000

7,367,000,000

6,562,000,000

7,122,000,000

7,180,000,000

Repayments of long-term debt

676,000,000

597,000,000

2,108,000,000

Interest payments

238,000,000

268,000,000

241,000,000

Financial guarantees in the form of stand-by letters of credit and perfomance bonds

725,000,000

Euro Notes Due 2016 [Member]

Debt Instrument [Line Items]

Principal value

611,000,000

684,000,000

Notes Due 2017 [Member]

Debt Instrument [Line Items]

Principal value

750,000,000

Notes Due 2018 [Member]

Debt Instrument [Line Items]

Principal value

582,000,000

Notes Due 2019 [Member]

Debt Instrument [Line Items]

Principal value

500,000,000

Euro Notes Due 2021 [Member]

Debt Instrument [Line Items]

Principal value

611,000,000

684,000,000

Notes Due 2022 [Member]

Debt Instrument [Line Items]

Principal value

750,000,000

Debentures Due 2023 [Member]

Debt Instrument [Line Items]

Principal value

304,000,000

Notes Due 2023 [Member]

Debt Instrument [Line Items]

Principal value

500,000,000

Debentures Due 2026 [Member]

Debt Instrument [Line Items]

Principal value

330,000,000

Notes Due 2036 [Member]

Debt Instrument [Line Items]

Principal value

625,000,000

Notes Due 2038 [Member]

Debt Instrument [Line Items]

Principal value

480,000,000

Notes Due 2042 [Member]

Debt Instrument [Line Items]

Principal value

500,000,000

Notes Due 2044 [Member]

Debt Instrument [Line Items]

Principal value

500,000,000

Debentures Due 2097 [Member]

Debt Instrument [Line Items]

Principal value

260,000,000

Other Debt Maturing 2016 To 2030 [Member]

Debt Instrument [Line Items]

Principal value

83,000,000

144,000,000

Floating Rate Convertible Senior Debentures Due 2023 [Member]

Debt Instrument [Line Items]

Principal value

18,000,000

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

Notes Due 2013 [Member]

Debt Instrument [Line Items]

Repayments of long-term debt

597,000,000

Amylin Acquisition [Member]

Debt Instrument [Line Items]

Principal value

2,000,000,000

Revolving Credit Facility [Member]

Line of Credit Facility [Line Items]

Line of Credit Facility, Maximum Borrowing Capacity

$ 1,500,000,000

RECEIVABLES (Details) (USD $)

In Millions, unless otherwise specified

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Accounts Receivable, Net [Abstract]

Trade receivables

$ 2,193

$ 1,779

Less allowances

(93)

(89)

Net trade receivables

2,100

1,690

Alliance partner receivables

888

1,122

Prepaid and refundable income taxes

178

262

Miscellaneous receivables

224

286

Receivables

3,390

3,360

Receivables sold on a nonrecourse basis

812

1,031

956

The number of the largest pharmaceutical wholesalers in the U.S.

3

Percentage of aggregate total trade receivables due from three pharmaceutical wholesalers

36.00%

40.00%

Allowance for Trade Receivables [Member]

Movement in Valuation Allowances and Reserves [Roll Forward]

Balance at beginning of year

89

104

147

Provision

773

720

832

Utilization

(769)

(731)

(875)

Assets held-for-sale

(4)

Balance at end of year

$ 93

$ 89

$ 104

INVENTORIES (Details) (USD $)

In Millions, unless otherwise specified

Dec. 31, 2014

Dec. 31, 2013

Inventory, Net [Abstract]

Finished goods

$ 500

$ 491

Work in process

856

757

Raw and packaging materials

204

250

Inventories

1,560

1,498

Inventories expected to remain on-hand beyond one year

$ 232

$ 351

PROPERTY, PLANT AND EQUIPMENT (Details) (USD $)

In Millions, unless otherwise specified

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Property, Plant and Equipment [Line Items]

Gross property, plant and equipment

$ 9,066

$ 8,843

Less accumulated depreciation

(4,649)

(4,264)

Property, Plant and Equipment

4,417

4,579

Property Plant And Equipment Manufacturing Facility Expected To Be Sold

235

Depreciation expense

543

453

382

Land [Member]

Property, Plant and Equipment [Line Items]

Gross property, plant and equipment

109

Buildings [Member]

Property, Plant and Equipment [Line Items]

Gross property, plant and equipment

4,830

4,748

Machinery equipment and fixtures [Member]

Property, Plant and Equipment [Line Items]

Gross property, plant and equipment

3,774

3,699

Construction in progress [Member]

Property, Plant and Equipment [Line Items]

Gross property, plant and equipment

$ 353

$ 287

GOODWILL AND OTHER INTANGIBLE ASSETS GOODWILL AND OTHER INTANGIBLE ASSETS (Details) (USD $)

In Millions, unless otherwise specified

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Mar. 31, 2014

Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]

Future estimated amortization, 2015

$ 220

Future estimated amortization, 2016

210

Future estimated amortization, 2017

200

Future estimated amortization, 2018

150

Future estimated amortization, 2019

110

Future estimated amortization, After 2019

583

Schedule of Goodwill and Intangible Assets [Line Items]

Goodwill

7,027

7,096

Total other intangible assets, gross

4,982

5,436

Other intangible assets accumulated amortization

(3,229)

(3,118)

Other intangible assets

1,753

2,318

Goodwill allocated to sale of business

550

600

Amortization of intangible assets

286

858

607

Impairment of other intangible assets

380

2,100

Impairment of indefinite-lived intangible assets

1,830

Impairment of finite-lived intangible assets

29

38

Licenses [Member]

Schedule of Goodwill and Intangible Assets [Line Items]

Finite-lived intangible assets, net

1,090

1,162

Developed technology rights [Member]

Schedule of Goodwill and Intangible Assets [Line Items]

Finite-lived intangible assets, net

2,358

2,486

Impairment of finite-lived intangible assets

120

Capitalized Software [Member]

Schedule of Goodwill and Intangible Assets [Line Items]

Finite-lived intangible assets, net

1,254

1,240

In-process research and development [Member]

Schedule of Goodwill and Intangible Assets [Line Items]

Indefinite-lived intangible assets acquired

280

548

Peginterferon lambda [Member]

Schedule of Goodwill and Intangible Assets [Line Items]

Impairment of indefinite-lived intangible assets

310

BMS-986094 [Member]

Schedule of Goodwill and Intangible Assets [Line Items]

Impairment of indefinite-lived intangible assets

$ 1,830

Minimum [Member] |
Licenses [Member]

Schedule of Goodwill and Intangible Assets [Line Items]

Useful life of intangible asset

5 years 0 months 0 days

Minimum [Member] |
Developed technology rights [Member]

Schedule of Goodwill and Intangible Assets [Line Items]

Useful life of intangible asset

9 years 0 months 0 days

Minimum [Member] |
Capitalized Software [Member]

Schedule of Goodwill and Intangible Assets [Line Items]

Useful life of intangible asset

3 years 0 months 0 days

Maximum [Member] |
Licenses [Member]

Schedule of Goodwill and Intangible Assets [Line Items]

Useful life of intangible asset

15 years 0 months 0 days

Maximum [Member] |
Developed technology rights [Member]

Schedule of Goodwill and Intangible Assets [Line Items]

Useful life of intangible asset

15 years 0 months 0 days

Maximum [Member] |
Capitalized Software [Member]

Schedule of Goodwill and Intangible Assets [Line Items]

Useful life of intangible asset

10 years 0 months 0 days

ACCRUED EXPENSES (Details) (USD $)

In Millions, unless otherwise specified

Dec. 31, 2014

Dec. 31, 2013

Accrued Liabilities, Current [Abstract]

Employee compensation and benefits

$ 892

$ 735

Royalties

213

173

Accrued research and development

445

380

Restructuring - current

128

73

Pension and postretirement benefits

47

Accrued litigation

43

65

Other

691

679

Total accrued expenses

$ 2,459

$ 2,152

SALES REBATES AND RETURN ACCRUALS (Details) (USD $)

In Millions, unless otherwise specified

Dec. 31, 2014

Dec. 31, 2013

Sales Rebates And Return Accruals [Abstract]

Charge-backs related to government programs

$ 41

$ 37

Cash discounts

15

12

Reductions to trade receivables

56

49

Managed healthcare rebates and other contract discounts

148

147

Medicaid rebates

193

227

Sales returns

232

279

Other adjustments

278

236

Accrued rebates and returns

$ 851

$ 889

DEFERRED INCOME (Details) (USD $)

In Millions, unless otherwise specified

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Deferred Income [Abstract]

Alliances

$ 1,493

$ 1,418

Gain on sale-leaseback transactions

45

71

Other

399

36

Total deferred income

1,937

1,525

Current portion

1,167

756

Non-current portion

770

769

Deferred early access program

300

Amortization of deferred income

362

548

308

Deferred income included in liabilities related to assets held-for-sale

$ 3,671

EQUITY (Changes in Equity) (Details) (USD $)

In Millions, unless otherwise specified

3 Months Ended

12 Months Ended

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Equity [Line Items]

Common Stock, Value, Issued, Balance at January 1,

$ 221

Common Stock, Value, Issued, Balance at December 31,

221

Capital in Excess of Par Value of Stock, Balance at January 1,

1,922

2,694

1,922

2,694

3,114

Employee stock compensation plans, Capital in Excess of Par Value of Stock

(393)

(772)

(420)

Debt conversion, Capital in Excess of Par Value of Stock

(22)

Capital in Excess of Par Value of Stock, Balance at December 31,

1,507

1,922

1,507

1,922

2,694

Retained Earnings, Balance at January 1,

32,952

32,733

32,952

32,733

33,069

Net Earnings/(Loss) Attributable to BMS

13

721

333

937

726

692

536

609

2,004

2,563

1,960

Cash dividends declared

(2,415)

(2,344)

(2,296)

Retained Earnings, Balance at December 31,

32,541

32,952

32,541

32,952

32,733

Treasury Stock, Shares, Balance at January 1,

559

Treasury Stock, Shares, Balance at December 31,

547

559

547

559

Cost of Treasury Stock, Balance at January 1,

(17,800)

Cost of Treasury Stock, Balance at December 31,

(16,992)

(17,800)

(16,992)

(17,800)

Noncontrolling interest, Balance at January 1,

82

15

82

15

(89)

Net earnings attributable to noncontrolling interest

39

38

850

Other comprehensive income attributable to noncontrolling interest

(6)

Variable interest entity

59

Distributions

(49)

29

(740)

Noncontrolling interest, Balance at December 31,

131

82

131

82

15

Net earnings attributable to noncontrolling interest, tax

22

20

317

Common Stock [Member]

Equity [Line Items]

Common Stock, Shares Issued, Balance at January 1,

2,205

Common Stock, Shares Issued, Balance at December 31,

2,208

Common Stock, Value, Issued, Balance at January 1,

220

Common Stock, Value, Issued, Balance at December 31,

221

Employee stock compensation plans, Shares

3

Employee stock compensation plans, Cost

1

Treasury Stock [Member]

Equity [Line Items]

Treasury Stock, Shares, Balance at January 1,

559

570

559

570

515

Stock repurchase program, Treasury Stock

11

73

Employee stock compensation plans, Shares

(11)

(22)

(18)

Debt conversion, Shares

(1)

Treasury Stock, Shares, Balance at December 31,

547

559

547

559

570

Cost of Treasury Stock, Balance at January 1,

(17,800)

(18,823)

(17,800)

(18,823)

(17,402)

Stock repurchase program, Cost of Treasury Stock

(413)

(2,407)

Employee stock compensation plans, Cost

755

1,436

986

Debt conversion, Cost

53

Cost of Treasury Stock, Balance at December 31,

$ (16,992)

$ (17,800)

$ (16,992)

$ (17,800)

$ (18,823)

EQUITY (Accumulated balances related to each component of other comprehensive income/(loss)) (Details) (USD $)

In Millions, unless otherwise specified

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Equity [Abstract]

Derivatives qualifying as cash flow hedges

$ 85

$ 16

Pension and other postretirement benefits

(2,181)

(1,857)

Available-for-sale securities

31

28

Foreign currency translation

(360)

(328)

Accumulated other comprehensive loss

(2,425)

(2,141)

Other Comprehensive Income (Loss), before Tax [Abstract]

Derivatives qualifying as cash flow hedges - Unrealized gains, Pre-tax

139

58

26

Derivatives qualifying as cash flow hedges - Reclassified to net earnings, Pre-tax

(41)

(56)

Derivatives qualifying as cash flow hedges, Pre-tax

98

2

(30)

Pension and postretirement benefits - Actuarial gains/(losses), Pre-tax

(1,414)

1,475

(432)

Pension and postretirement benefits - Amortization, Pre-tax

104

129

133

Pension and postretirement benefits - Settlements and curtailments, Pre-tax

867

165

159

Pension and other postretirement benefits, Pre-tax

(443)

1,769

(140)

Available-for-sale securities - Unrealized gains/(losses), Pre-tax

10

(35)

20

Available-for-sale securities - Realized gains, Pre-tax

(1)

(8)

(11)

Available-for-sale securities, Pre-tax

9

(43)

9

Foreign currency translation, Pre-tax

(8)

(75)

(15)

Other Comprehensive Income/(Loss), before Tax

(344)

1,653

(176)

Other Comprehensive Income (Loss), Tax, Parenthetical Disclosures [Abstract]

Derivatives qualifying as cash flow hedges - Unrealized gains, Tax

(45)

(17)

Derivatives qualifying as cash flow hedges - Reclassified to net earnings, Tax

16

22

20

Derivatives qualifying as cash flow hedges, Tax

(29)

5

3

Pension and other postretirement benefits - Actuarial gains/(losses), Tax

464

(504)

121

Pension and other postretirement benefits - Amortization, Tax

(37)

(43)

Pension and other postretirement benefits - Settlements and curtailments, Tax

(308)

(56)

Pension and other postretirement benefits, Tax

119

(603)

22

Available-for-sale securities - Unrealized gains/(losses), Tax

(6)

3

(8)

Available-for-sale securities - Realized gains, Tax

3

2

Available-for-sale securities, Tax

(6)

6

(6)

Foreign currency translation Adjustment, Tax

(24)

Other comprehensive income/(loss), Tax

60

(592)

19

Other Comprehensive Income (Loss), Net of Tax [Abstract]

Derivatives qualifying as cash flow hedges - Unrealized holding gains, After tax

94

41

9

Derivatives qualifying as cash flow hedges - Reclassified to net earnings After tax

(25)

(34)

(36)

Derivatives qualifying as cash flow hedges, After tax

69

7

(27)

Pension and other postretirement benefits - Actuarial gains/(losses), After tax

(950)

971

(311)

Pension and other postretirement benefits - Amortization, After tax

67

86

90

Pension and other postretirement benefits - Settlements and curtailments

559

109

103

Pension and other postretirement benefits, After tax

(324)

1,166

(118)

Available for sale securities - Unrealized gains/(losses), After tax

4

(32)

12

Available for sale securities - Realized gains, After tax

(1)

(5)

(9)

Available-for-sale securities, After tax

3

(37)

3

Foreign currency translation, After tax

(32)

(75)

(15)

Total Other Comprehensive Income/(Loss)

$ (284)

$ 1,061

$ (157)

PENSION AND POSTRETIREMENT BENEFIT PLANS (Net Periodic Benefit Cost) (Details) (USD $)

In Millions, unless otherwise specified

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Percentage of plan assets attributable to the principal defined benefit pension plan

65.00%

Percentage of plan obligations attributable to the principal defined benefit pension plan

61.00%

Pension Plans, Defined Benefit [Member]

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Service cost - benefits earned during the year

$ 34

$ 38

$ 32

Interest cost on projected benefit obligation

305

302

319

Expected return on plan assets

(508)

(519)

(508)

Amortization of prior service costs

(3)

(4)

(3)

Amortization of net actuarial (gain)/loss

110

134

129

Curtailments

1

(1)

Settlements

866

165

160

Special termination benefits

14

Total net periodic benefit cost/(credit)

819

116

128

Pension obligation settlement

1,774

350

Other Postretirement Benefit Plans, Defined Benefit [Member]

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Service cost - benefits earned during the year

4

8

Interest cost on projected benefit obligation

14

13

22

Expected return on plan assets

(27)

(26)

(25)

Amortization of prior service costs

(1)

(2)

Amortization of net actuarial (gain)/loss

(2)

1

10

Curtailments

(4)

Total net periodic benefit cost/(credit)

(16)

(6)

13

United States Pension Plans

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Settlements

713

Pension obligation settlement

$ 1,500

PENSION AND POSTRETIREMENT BENEFIT PLANS (Changes in Defined Benefit and Postretirement Benefit Plan Assets and Obligations) (Details) (USD $)

In Millions, unless otherwise specified

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Defined Benefit Plan, Change in Fair Value of Plan Assets

Fair value of plan assets at end of year

$ 6,505

$ 7,753

Accrued expenses

(47)

Pension, postretirement, and postemployment liabilities

(1,115)

(718)

Accumulated benefit obligation

7,001

7,125

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

5,877

1,291

Pension plans with projected benefit obligations in excess of plan assets, Fair value of plan assets

4,917

732

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

5,731

1,101

Pension plans with accumulated benefit obligations in excess of plan assets, Fair value of plan assets

4,823

608

Pension Plans, Defined Benefit [Member]

Defined Benefit Plan, Change in Benefit Obligation

Benefit obligations at the beginning of year

7,233

8,200

Service cost - benefits earned during the year

34

38

32

Interest cost on projected benefit obligation

305

302

319

Plan participants' contributions

2

Curtailments

(27)

Settlements

(1,774)

(350)

Plan amendments

(2)

(1)

Actuarial (gains)/losses

1,673

(761)

Benefits paid

(216)

(206)

Exchange rate (gains)/losses

(160)

9

Benefit obligations at the end of the year

7,068

7,233

8,200

Defined Benefit Plan, Change in Fair Value of Plan Assets

Fair value of plan assets at beginning of year

7,406

6,542

Actual return on plan assets

750

1,154

Employer contributions

124

251

Plan participants' contributions

2

Settlements

(1,774)

(350)

Benefits paid

(216)

(206)

Exchange rate gains/(losses)

(144)

13

Fair value of plan assets at end of year

6,148

7,406

6,542

Funded Status

(920)

173

Other assets

40

731

Accrued expenses

(36)

(35)

Pension, postretirement, and postemployment liabilities

(924)

(523)

Net actuarial (gains)/losses

3,304

2,878

Prior service credit

(40)

(41)

Total recognized in other comprehensive loss, pre-tax

3,264

2,837

Other Postretirement Benefit Plans, Defined Benefit [Member]

Defined Benefit Plan, Change in Benefit Obligation

Benefit obligations at the beginning of year

404

460

Service cost - benefits earned during the year

4

8

Interest cost on projected benefit obligation

14

13

22

Plan participants' contributions

22

23

Curtailments

(3)

Plan amendments

(7)

Actuarial (gains)/losses

28

(43)

Retiree Drug Subsidy

6

Benefits paid

(62)

(63)

Exchange rate (gains)/losses

(4)

Benefit obligations at the end of the year

402

404

460

Defined Benefit Plan, Change in Fair Value of Plan Assets

Fair value of plan assets at beginning of year

347

311

Actual return on plan assets

36

61

Employer contributions

8

9

Plan participants' contributions

22

23

Retiree Drug Subsidy

6

Benefits paid

(62)

(63)

Fair value of plan assets at end of year

357

347

311

Funded Status

(45)

(57)

Other assets

91

87

Accrued expenses

(11)

(12)

Pension, postretirement, and postemployment liabilities

(125)

(132)

Net actuarial (gains)/losses

(24)

(44)

Prior service credit

(9)

(4)

Total recognized in other comprehensive loss, pre-tax

$ (33)

$ (48)

PENSION AND POSTRETIREMENT BENEFIT PLANS (Actuarial Assumptions) (Details) (USD $)

In Millions, unless otherwise specified

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

The amount by which the fair value of defined benefit plan assets exceeded the market-related value as of the balance sheet date

$ 300

Percentage of the higher of the market-related value or projected benefit obligation corridor not amortized

10.00%

Net actuarial loss and prior service cost expected to be amortized from accumulated other comprehensive income into net periodic benefit cost during 2015

$ 93

United States Postretirement Benefit Plan of US Entity, Defined Benefit [Member]

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

37 years

Pension Plans, Defined Benefit [Member]

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Discount rate used to determine benefit obligations

3.60%

4.40%

Rate of compensation increase used to determine benefit obligations

0.80%

2.30%

Discount rate used to determine net periodic benefit cost

4.20%

4.10%

4.40%

Expected long-term return on plan assets used to determine net periodic benefit cost

7.60%

8.00%

8.20%

Rate of compensation increase used to determine net periodic benefit cost

2.30%

Historical long-term annualized returns for U.S. pension plans, 10 years

7.90%

8.00%

8.50%

Historical long-term annualized returns for U.S. pension plans, 15 years

6.40%

6.80%

6.50%

Historical long-term annualized returns for U.S. pension plans, 20 years

9.30%

8.80%

8.50%

Other Postretirement Benefit Plans, Defined Benefit [Member]

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Discount rate used to determine benefit obligations

3.40%

3.80%

Rate of compensation increase used to determine benefit obligations

2.00%

2.10%

Discount rate used to determine net periodic benefit cost

3.70%

3.00%

4.10%

Expected long-term return on plan assets used to determine net periodic benefit cost

8.30%

8.80%

Rate of compensation increase used to determine net periodic benefit cost

2.10%

2.00%

Healthcare cost trend rate assumed for next year

6.00%

6.40%

6.80%

Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)

4.50%

PENSION AND POSTRETIREMENT BENEFIT PLANS (Fair Value Disclosures) (Details) (USD $)

In Millions, unless otherwise specified

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Total plan assets at fair value

$ 6,505

$ 7,753

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]

Fair value at January 1, Asset

511

536

Purchases, sales and settlements, net

(103)

(118)

Realized gains/(losses)

46

53

Unrealized gains/(losses)

(8)

40

Fair value at December 31, Asset

446

511

Percentage of U.S. pension plan equity investments that are actively managed

98.00%

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

1,115

1,804

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]

Target allocation percentage of assets

43.00%

Equity Funds [Member]

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Total plan assets at fair value

1,559

2,213

Fixed Income Funds [Member]

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Total plan assets at fair value

1,117

895

Corporate Debt Securities [Member]

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Total plan assets at fair value

1,481

1,410

Venture Capital and Limited Partnerships [Member]

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Total plan assets at fair value

327

369

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]

Fair value at January 1, Asset

369

381

Purchases, sales and settlements, net

(88)

(91)

Realized gains/(losses)

61

48

Unrealized gains/(losses)

(15)

31

Fair value at December 31, Asset

327

369

Target allocation percentage of assets

7.00%

Government Mortgage Backed Securities [Member]

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Total plan assets at fair value

7

1

U.S. Treasury and Agency Securities [Member]

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Total plan assets at fair value

557

514

Short-Term Investment Funds [Member]

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Total plan assets at fair value

63

122

Insurance Contracts [Member]

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Total plan assets at fair value

119

142

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]

Fair value at January 1, Asset

142

132

Purchases, sales and settlements, net

(15)

(4)

Realized gains/(losses)

(15)

5

Unrealized gains/(losses)

7

9

Fair value at December 31, Asset

119

142

Event Driven Hedge Funds [Member]

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Total plan assets at fair value

71

122

State and Municipal Bonds [Member]

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Total plan assets at fair value

9

24

Real Estate [Member]

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Total plan assets at fair value

4

Cash and Cash Equivalents [Member]

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Total plan assets at fair value

76

133

Other Plan Assets [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]

Fair value at January 1, Asset

23

Purchases, sales and settlements, net

(23)

United States Equity Securities [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]

Target allocation percentage of assets

16.00%

International Equity Securities [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]

Target allocation percentage of assets

16.00%

Global Equity Securities [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]

Target allocation percentage of assets

11.00%

Debt Securities [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]

Target allocation percentage of assets

50.00%

Fair Value Level 1 [Member]

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Total plan assets at fair value

1,981

2,713

Fair Value Level 1 [Member] |
Equity Securities [Member]

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Total plan assets at fair value

1,115

1,804

Fair Value Level 1 [Member] |
Equity Funds [Member]

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Total plan assets at fair value

446

534

Fair Value Level 1 [Member] |
Fixed Income Funds [Member]

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Total plan assets at fair value

340

238

Fair Value Level 1 [Member] |
Real Estate [Member]

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Total plan assets at fair value

4

Fair Value Level 1 [Member] |
Cash and Cash Equivalents [Member]

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Total plan assets at fair value

76

133

Fair Value Level 2 [Member]

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Total plan assets at fair value

4,078

4,529

Fair Value Level 2 [Member] |
Equity Funds [Member]

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Total plan assets at fair value

1,113

1,679

Fair Value Level 2 [Member] |
Fixed Income Funds [Member]

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Total plan assets at fair value

777

657

Fair Value Level 2 [Member] |
Corporate Debt Securities [Member]

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Total plan assets at fair value

1,481

1,410

Fair Value Level 2 [Member] |
Government Mortgage Backed Securities [Member]

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Total plan assets at fair value

7

1

Fair Value Level 2 [Member] |
U.S. Treasury and Agency Securities [Member]

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Total plan assets at fair value

557

514

Fair Value Level 2 [Member] |
Short-Term Investment Funds [Member]

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Total plan assets at fair value

63

122

Fair Value Level 2 [Member] |
Event Driven Hedge Funds [Member]

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Total plan assets at fair value

71

122

Fair Value Level 2 [Member] |
State and Municipal Bonds [Member]

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Total plan assets at fair value

9

24

Fair Value Level 3 [Member]

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Total plan assets at fair value

446

511

Fair Value Level 3 [Member] |
Venture Capital and Limited Partnerships [Member]

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Total plan assets at fair value

327

369

Fair Value Level 3 [Member] |
Insurance Contracts [Member]

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Total plan assets at fair value

$ 119

$ 142

PENSION AND POSTRETIREMENT BENEFIT PLANS (Estimated Future Benefit Payments) (Details) (USD $)

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Pension contributions

$ 124,000,000

$ 251,000,000

$ 396,000,000

Expected future benefit payments, Years 2020-2024

1,700,000,000

Defined contribution plan expense

190,000,000

Minimum [Member]

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Expected future benefit payments range

300,000,000

Maximum [Member]

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Expected future benefit payments range

400,000,000

Pension Plans, Defined Benefit [Member]

Pension, Postretirement And Postemployment Liabilities Statement [Line Items]

Expected contributions to pension plans

$ 100,000,000

EMPLOYEE STOCK BENEFIT PLANS (Stock Based Compensation Expense) (Details) (USD $)

In Millions, unless otherwise specified

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

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

250

Shares available to be granted for active plans

112

Total stock-based compensation expense

$ 213

$ 191

$ 248

Deferred tax benefit related to stock-based compensation expense

71

64

82

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

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

75

74

64

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

34

29

23

Long-term performance awards [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Total stock-based compensation expense

104

86

60

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 (Stock Based Compensation Activity) (Details) (USD $)

In Thousands, except Per Share data, unless otherwise specified

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Stock Options [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]

Stock options, Outstanding balance at January 1, 2014

23,123

Stock options, Exercised

(6,635)

Stock options, Forfeited

(911)

Stock options, Outstanding balance at December 31, 2014

15,577

Stock options, Outstanding balance at January 1, 2014, Weighted average exercise price

$ 22.88

Stock Options, Exercised, Weighted average exercise price

$ 23.68

Stock options, Forfeited, Weighted average exercise price

$ 27.25

Stock options, Outstanding balance at December 31, 2014, Weighted average exercise price

$ 22.29

Vested or Expected to Vest, Number of Options Outstanding

15,577

Vested or Expected to Vest - Stock Options, Weighted-Average Exercise Price of Shares

$ 22.29

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, 2014

6,552

Nonvested awards, Granted

1,903

Nonvested awards, Released

(2,474)

Nonvested awards, Canceled

(734)

Nonvested awards, Balance at December 31, 2014

5,247

6,552

Nonvested awards, Balance at January 1, 2014, Weighted average grant date fair value

$ 32.81

Nonvested awards, Granted, Weighted average grant date fair value

$ 52.22

$ 38.73

$ 32.71

Nonvested awards, Released, Weighted average grant date fair value

$ 27.51

Nonvested awards, Canceled, Weighted average grant date fair value

$ 23.75

Nonvested awards, Balance at December 31, 2014, Weighted average grant date fair value

$ 43.61

$ 32.81

Expected to Vest, Awards Other than Options, Number of Nonvested Awards

4,847

Expected to Vest, Awards Other than Options, Weighted-Average Grant Date Fair Value

$ 43.61

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, 2014

1,832

Nonvested awards, Granted

886

Nonvested awards, Released

(1,674)

Nonvested awards, Adjustments for actual payout

1,212

Nonvested awards, Canceled

(295)

Nonvested awards, Balance at December 31, 2014

1,961

1,832

Nonvested awards, Balance at January 1, 2014, Weighted average grant date fair value

$ 33.82

Nonvested awards, Granted, Weighted average grant date fair value

$ 55.44

$ 37.40

$ 31.85

Nonvested awards, Released, Weighted average grant date fair value

$ 29.32

Nonvested awards, Adjustments for actual payout, Weighted average grant date fair value

$ 27.40

Nonvested awards, Canceled, Weighted average grant date fair value

$ 40.34

Nonvested awards, Balance at December 31, 2014, Weighted average grant date fair value

$ 42.47

$ 33.82

Expected to Vest, Awards Other than Options, Number of Nonvested Awards

1,812

Expected to Vest, Awards Other than Options, Weighted-Average Grant Date Fair Value

$ 42.47

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, 2014

4,292

Nonvested awards, Granted

2,288

Nonvested awards, Released

(2,743)

Nonvested awards, Adjustments for actual payout

(120)

Nonvested awards, Canceled

(298)

Nonvested awards, Balance at December 31, 2014

3,419

4,292

Nonvested awards, Balance at January 1, 2014, Weighted average grant date fair value

$ 33.75

Nonvested awards, Granted, Weighted average grant date fair value

$ 55.17

$ 37.40

$ 32.33

Nonvested awards, Released, Weighted average grant date fair value

$ 32.80

Nonvested awards, Adjustments for actual payout, Weighted average grant date fair value

$ 33.08

Nonvested awards, Canceled, Weighted average grant date fair value

$ 53.68

Nonvested awards, Balance at December 31, 2014, Weighted average grant date fair value

$ 47.12

$ 33.75

Expected to Vest, Awards Other than Options, Number of Nonvested Awards

3,159

Expected to Vest, Awards Other than Options, Weighted-Average Grant Date Fair Value

$ 47.12

EMPLOYEE STOCK BENEFIT PLANS (Additional Information) (Details) (USD $)

In Millions, except Per Share data, unless otherwise specified

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]

Total intrinsic value of stock options exercised during the year

$ 199

$ 323

$ 153

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

Restricted Stock Units (RSUs) [Member]

Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]

Unrecognized compensation cost

152

Expected weighted-average period of compensation cost to be recognized

2 years 7 months 10 days

Weighted-average grant date fair value (per share)

$ 52.22

$ 38.73

$ 32.71

Fair value of awards that vested during the year

68

74

Market share units [Member]

Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]

Unrecognized compensation cost

36

Expected weighted-average period of compensation cost to be recognized

2 years 7 months 17 days

Weighted-average grant date fair value (per share)

$ 55.44

$ 37.40

$ 31.85

Fair value of awards that vested during the year

49

30

18

Long-term performance awards [Member]

Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]

Unrecognized compensation cost

88

Expected weighted-average period of compensation cost to be recognized

1 year 8 months 27 days

Weighted-average grant date fair value (per share)

$ 55.17

$ 37.40

$ 32.33

Fair value of awards that vested during the year

$ 90

$ 56

EMPLOYEE STOCK BENEFIT PLANS (Outstanding and Exercisable Options) (Details) (USD $)

In Millions, except Share data in Thousands, unless otherwise specified

12 Months Ended

Dec. 31, 2014

Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]

Options Outstanding, Number Outstanding

15,577

Options Outstanding, Weighted Average Remaining Contractual Life

2 years 7 months 29 days

Options Outstanding, Weighted Average Exercise Price Per Share

$ 22.29

Options Outstanding, Aggregate Intrinsic Value

$ 572

Options Exercisable, Number Exercisable

15,577

Options Exercisable, Weighted Average Remaining Contractual Life

2 years 7 months 29 days

Options Exercisable, Weighted Average Exercise Price Per Share

$ 22.29

Options Exercisable, Aggregate Intrinsic Value

572

Closing Company stock price used to calculate the aggregate intrinsic value

$ 59.03

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

4,886

Options Outstanding, Weighted Average Remaining Contractual Life

4 years 1 month 31 days

Options Outstanding, Weighted Average Exercise Price Per Share

$ 17.53

Options Outstanding, Aggregate Intrinsic Value

203

Options Exercisable, Number Exercisable

4,886

Options Exercisable, Weighted Average Remaining Contractual Life

4 years 1 month 31 days

Options Exercisable, Weighted Average Exercise Price Per Share

$ 17.53

Options Exercisable, Aggregate Intrinsic Value

203

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

10,691

Options Outstanding, Weighted Average Remaining Contractual Life

1 year 11 months 20 days

Options Outstanding, Weighted Average Exercise Price Per Share

$ 24.46

Options Outstanding, Aggregate Intrinsic Value

369

Options Exercisable, Number Exercisable

10,691

Options Exercisable, Weighted Average Remaining Contractual Life

1 year 11 months 20 days

Options Exercisable, Weighted Average Exercise Price Per Share

$ 24.46

Options Exercisable, Aggregate Intrinsic Value

$ 369

LEASES (Details) (USD $)

In Millions, unless otherwise specified

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Operating Leases, Rent Expense, Net [Abstract]

Operating lease expense

$ 137

$ 144

$ 142

Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]

Annual minimum rental commitments for non-cancelable operating leases for next five years

100

Minimum rental commitments for non-cancelable operating leases, Later years

$ 100

LEGAL PROCEEDINGS AND CONTINGENCIES (Details) (USD $)

In Millions, unless otherwise specified

3 Months Ended

12 Months Ended

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2014

Baraclude [Member]

Dec. 31, 2013

Baraclude [Member]

Dec. 31, 2012

Baraclude [Member]

Dec. 31, 2014

AWP Litigation [Member]

Sep. 30, 2010

AWP Litigation [Member]

Dec. 31, 2011

Qui Tam Litigation [Member]

Dec. 31, 2014

Environmental Proceedings New Brunswick [Member]

Oct. 30, 2011

Environmental Proceedings New Brunswick [Member]

May 31, 2008

Environmental Proceedings New Brunswick [Member]

Dec. 31, 2014

Plavix Product Liability [Member]

Dec. 31, 2014

Cercla Matters [Member]

Dec. 31, 2014

Reglan Product Liability [Member]

Aug. 31, 2010

Baraclude Intellectual Property Litigation [Member]

Dec. 31, 2014

Baraclude Intellectual Property Litigation [Member]

Baraclude [Member]

United States [Member]

Dec. 31, 2014

Baraclude Intellectual Property Litigation [Member]

Baraclude [Member]

South Korea [Member]

Dec. 31, 2014

Environmental Proceedings North Brunswick [Member]

Dec. 31, 2014

Byetta And Bydureon Product Liability [Member]

Legal Proceedings And Contingencies [Line Items]

Number of patents challenged

1

Number of lawsuits

2

500

200

300

430

Loss contingency, Estimate of possible loss

$ 28

$ 62

Number of current plaintiffs

5,500

3,000

1,900

Number of plaintiffs settled

510

Litigation settlement, Gross

4

Number of interim payments already transmitted

2

Revenues

$ 4,258

$ 3,921

$ 3,889

$ 3,811

$ 4,441

$ 4,065

$ 4,048

$ 3,831

$ 15,879

$ 16,385

$ 17,621

$ 1,441

$ 1,527

$ 1,388

$ 215

$ 158

Number of sales representatives

3

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) (Details) (USD $)

In Millions, except Per Share data, unless otherwise specified

3 Months Ended

12 Months Ended

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Selected Quarterly Data [Line Items]

Total Revenues

$ 4,258

$ 3,921

$ 3,889

$ 3,811

$ 4,441

$ 4,065

$ 4,048

$ 3,831

$ 15,879

$ 16,385

$ 17,621

Gross Margin

3,292

2,914

2,898

2,843

3,168

2,890

2,940

2,768

11,947

11,766

Net Earnings

27

732

334

936

735

692

530

623

2,029

2,580

2,501

Net Earnings/(Loss) Attributable to Noncontrolling Interest

14

11

1

(1)

9

(6)

14

25

17

541

Net Earnings/(Loss) Attributable to BMS

13

721

333

937

726

692

536

609

2,004

2,563

1,960

Earnings per Share - Basic

$ 0.01

$ 0.43

$ 0.20

$ 0.57

$ 0.44

$ 0.42

$ 0.33

$ 0.37

$ 1.21

$ 1.56

$ 1.17

Earnings per Share - Diluted

$ 0.01

$ 0.43

$ 0.20

$ 0.56

$ 0.44

$ 0.42

$ 0.32

$ 0.37

$ 1.20

$ 1.54

$ 1.16

Cash dividends declared per common share

$ 0.37

$ 0.36

$ 0.35

$ 1.45

$ 1.41

$ 1.37

Cash and cash equivalents

5,571

4,851

4,282

5,225

3,586

1,771

1,821

1,355

5,571

3,586

1,656

5,776

Marketable securities

6,272

6,698

6,769

5,392

4,686

4,574

4,201

4,420

6,272

4,686

Total Assets

33,749

33,450

33,503

33,424

38,592

36,804

36,252

35,958

33,749

38,592

Long-term Debt

7,267

7,372

7,367

6,562

7,122

7,180

Long-term Debt, Excluding Current Maturities

7,242

7,981

7,242

7,981

Equity

14,983

15,201

15,379

15,531

15,236

14,714

14,373

13,699

14,983

15,236

Cost of products sold

31

36

39

45

102

69

70

85

151

326

Marketing, selling and administrative

1

98

3

10

4

1

105

16

Research and development

50

65

458

48

16

621

16

Other (income)/expense

850

(203)

67

(88)

39

43

239

19

626

340

Increase/(decrease) to pretax income

932

(4)

567

8

167

116

310

105

1,503

698

Income tax on items above

(297)

33

(102)

(179)

(51)

(40)

(116)

(35)

(545)

(242)

Specified tax charge

123

Income taxes - specified items

(174)

33

(102)

(179)

(422)

Increase/(decrease) to Net Earnings

758

29

465

(171)

116

76

194

70

1,081

456

Accelerated Depreciation Asset Impairment And Other Shutdown Costs [Member]

Selected Quarterly Data [Line Items]

Increase/(decrease) to pretax income

36

Amortization Of Acquired Intangible Assets [Member]

Selected Quarterly Data [Line Items]

Increase/(decrease) to pretax income

137

138

549

Amortization of Alliance Proceeds [Member]

Selected Quarterly Data [Line Items]

Increase/(decrease) to pretax income

(71)

(68)

(67)

(273)

Amortization Of Purchase Price Inventory Adjustment [Member]

Selected Quarterly Data [Line Items]

Increase/(decrease) to pretax income

14

Additional year of Branded Prescription Drug Fee [Member]

Selected Quarterly Data [Line Items]

Increase/(decrease) to pretax income

96

Process Standardization Implementation Costs [Member]

Selected Quarterly Data [Line Items]

Increase/(decrease) to pretax income

1

2

3

9

Upfront, milestone and other licensing payments [Member]

Selected Quarterly Data [Line Items]

Increase/(decrease) to pretax income

50

65

148

15

278

In Process Research And Development Impairment [Member]

Selected Quarterly Data [Line Items]

Increase/(decrease) to pretax income

310

33

343

Provision For Restructuring [Member]

Selected Quarterly Data [Line Items]

Increase/(decrease) to pretax income

91

35

16

21

14

6

173

33

163

226

Gain On Sale Of Product Lines Businesses And Assets [Member]

Selected Quarterly Data [Line Items]

Increase/(decrease) to pretax income

3

(315)

12

(259)

(559)

Pension Curtailments, Settlements and Special Termination Benefits [Member]

Selected Quarterly Data [Line Items]

Increase/(decrease) to pretax income

740

28

45

64

25

37

99

877

161

Acquisition Related Expenses [Member]

Selected Quarterly Data [Line Items]

Increase/(decrease) to pretax income

39

17

16

(10)

72

(10)

Litigation Charges/(Recoveries) [Member]

Selected Quarterly Data [Line Items]

Increase/(decrease) to pretax income

15

10

(23)

25

(23)

27

(23)

Loss On Debt Redemption [Member]

Selected Quarterly Data [Line Items]

Increase/(decrease) to pretax income

45

Outlicensed Intangible Asset Impairment [Member]

Selected Quarterly Data [Line Items]

Increase/(decrease) to pretax income

11

Upfront, milestone and other licensing receipts [Member]

Selected Quarterly Data [Line Items]

Increase/(decrease) to pretax income

(10)

(14)

(10)

(14)

Additional year of Branded Prescription Drug Fee included in acquisition and alliance related items [Member]

Selected Quarterly Data [Line Items]

Increase/(decrease) to pretax income

$ 16