Document and Entity Information - shares |
6 Months Ended | |
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Jul. 01, 2018 |
Aug. 06, 2018 |
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Document and Entity Information [Abstract] | ||
Entity Registrant Name | PFIZER INC | |
Entity Central Index Key | 0000078003 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Jul. 01, 2018 | |
Document Fiscal Year Focus | 2018 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false | |
Trading Symbol | PFE | |
Entity Common Stock, Shares Outstanding | 5,862,109,503 |
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions |
3 Months Ended | 6 Months Ended | |||||||||||||||||
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Jul. 01, 2018 |
Jul. 02, 2017 |
Jul. 01, 2018 |
Jul. 02, 2017 |
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Income Statement [Abstract] | |||||||||||||||||||
Revenues | [1] | $ 13,466 | $ 12,896 | $ 26,373 | $ 25,675 | ||||||||||||||
Costs and expenses: | |||||||||||||||||||
Cost of sales | [1],[2] | 2,916 | 2,660 | 5,479 | 5,128 | ||||||||||||||
Selling, informational and administrative expenses | [1],[2] | 3,542 | 3,430 | 6,954 | 6,745 | ||||||||||||||
Research and development expenses | [1],[2] | 1,797 | 1,787 | 3,540 | 3,502 | ||||||||||||||
Amortization of intangible assets | [1] | 1,191 | 1,208 | 2,387 | 2,394 | ||||||||||||||
Restructuring charges and certain acquisition-related costs | [1] | 44 | 70 | 87 | 153 | ||||||||||||||
Other (income)/deductions––net | [1] | (551) | (75) | (728) | (14) | ||||||||||||||
Income from continuing operations before provision for taxes on income | [1],[3] | 4,527 | 3,815 | 8,654 | 7,767 | ||||||||||||||
Provision for taxes on income | [1] | 648 | 739 | 1,204 | 1,560 | ||||||||||||||
Income from continuing operations | [1] | 3,879 | 3,077 | 7,450 | [4] | 6,207 | [4] | ||||||||||||
Discontinued operations––net of tax | [1] | 0 | 2 | (1) | 1 | ||||||||||||||
Net income before allocation to noncontrolling interests | [1],[5],[6] | 3,879 | 3,078 | 7,449 | 6,208 | ||||||||||||||
Less: Net income attributable to noncontrolling interests | [1] | 7 | 5 | 16 | 14 | ||||||||||||||
Net income attributable to Pfizer Inc. | [1] | $ 3,872 | $ 3,073 | $ 7,432 | $ 6,194 | ||||||||||||||
Earnings per common share––basic: | |||||||||||||||||||
Income from continuing operations attributable to Pfizer Inc. common shareholders (in dollars per share) | [1] | $ 0.66 | $ 0.52 | $ 1.26 | $ 1.04 | ||||||||||||||
Discontinued operations––net of tax (in dollars per share) | [1] | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||||
Net income attributable to Pfizer Inc. common shareholders (in dollars per share) | [1] | 0.66 | 0.52 | 1.26 | 1.04 | ||||||||||||||
Earnings per common share––diluted: | |||||||||||||||||||
Income from continuing operations attributable to Pfizer Inc. common shareholders (in dollars per share) | [1] | 0.65 | 0.51 | 1.24 | 1.02 | ||||||||||||||
Discontinued operations––net of tax (in dollars per share) | [1] | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||||
Net income attributable to Pfizer Inc. common shareholders (in dollars per share) | [1] | $ 0.65 | $ 0.51 | $ 1.24 | $ 1.02 | ||||||||||||||
Weighted-average shares––basic | [1] | 5,866 | 5,958 | 5,911 | 5,982 | ||||||||||||||
Weighted-average shares––diluted | [1] | 5,952 | 6,037 | 6,004 | [4] | 6,065 | [4] | ||||||||||||
Cash dividends paid per common share (in dollars per share) | [1] | $ 0.34 | $ 0.32 | $ 0.68 | $ 0.64 | ||||||||||||||
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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions |
Jul. 01, 2018 |
Dec. 31, 2017 |
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Assets | ||||||||||||
Cash and cash equivalents | [1] | $ 2,704 | $ 1,342 | [2] | ||||||||
Short-term investments | [1] | 10,727 | 18,650 | |||||||||
Trade accounts receivable, less allowance for doubtful accounts: 2018—$578; 2017—$584 | [1] | 9,873 | 8,221 | |||||||||
Inventories | [1],[3] | 8,074 | 7,578 | |||||||||
Current tax assets | [1] | 3,582 | 3,050 | |||||||||
Other current assets | [1] | 2,343 | 2,301 | |||||||||
Total current assets | [1] | 37,303 | 41,141 | |||||||||
Long-term investments | [1] | 6,595 | 7,015 | |||||||||
Property, plant and equipment, less accumulated depreciation: 2018—$16,844; 2017—$16,172 | [1] | 13,919 | 13,865 | |||||||||
Identifiable intangible assets, less accumulated amortization | [1],[4] | 46,584 | 48,741 | |||||||||
Goodwill | [1] | 55,836 | 55,952 | |||||||||
Noncurrent deferred tax assets and other noncurrent tax assets | [1] | 1,848 | 1,855 | |||||||||
Other noncurrent assets | [1] | 2,896 | 3,227 | |||||||||
Total assets | [1] | 164,980 | 171,797 | |||||||||
Liabilities and Equity | ||||||||||||
Short-term borrowings, including current portion of long-term debt: 2018—$4,262; 2017—$3,546 | [1] | 11,583 | 9,953 | |||||||||
Trade accounts payable | [1] | 4,196 | 4,656 | |||||||||
Dividends payable | [1] | 1,980 | 2,029 | |||||||||
Income taxes payable | [1] | 2,481 | 477 | |||||||||
Accrued compensation and related items | [1] | 1,791 | 2,196 | |||||||||
Other current liabilities | [1] | 10,125 | 11,115 | |||||||||
Total current liabilities | [1] | 32,156 | 30,427 | |||||||||
Long-term debt | [1] | 28,935 | 33,538 | |||||||||
Pension benefit obligations, net | [1] | 5,006 | 5,926 | |||||||||
Postretirement benefit obligations, net | [1] | 1,473 | 1,504 | |||||||||
Noncurrent deferred tax liabilities | [1] | 5,743 | 3,900 | |||||||||
Other taxes payable | [1] | 15,597 | 18,697 | |||||||||
Other noncurrent liabilities | [1] | 5,947 | 6,149 | |||||||||
Total liabilities | [1] | 94,856 | 100,141 | |||||||||
Commitments and Contingencies | [1] | |||||||||||
Preferred stock | [1] | 20 | 21 | |||||||||
Common stock | [1] | 465 | 464 | |||||||||
Additional paid-in capital | [1] | 84,898 | 84,278 | |||||||||
Treasury stock | [1] | (95,463) | (89,425) | |||||||||
Retained earnings | [1] | 89,860 | 85,291 | |||||||||
Accumulated other comprehensive loss | [1] | (10,003) | (9,321) | |||||||||
Total Pfizer Inc. shareholders’ equity | [1] | 69,778 | 71,308 | |||||||||
Equity attributable to noncontrolling interests | [1] | 346 | 348 | |||||||||
Total equity | [1] | 70,124 | 71,656 | |||||||||
Total liabilities and equity | [1] | $ 164,980 | $ 171,797 | |||||||||
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CONDENSED CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - USD ($) $ in Millions |
Jul. 01, 2018 |
Dec. 31, 2017 |
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Statement of Financial Position [Abstract] | |||||
Allowance for doubtful accounts | [1] | $ 578 | $ 584 | ||
Property, plant and equipment, accumulated depreciation | [1] | 16,844 | 16,172 | ||
Current portion of long-term debt | [1] | $ 4,262 | $ 3,546 | ||
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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions |
6 Months Ended | ||||||||||||||
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Jul. 01, 2018 |
Jul. 02, 2017 |
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Operating Activities | |||||||||||||||
Net income before allocation to noncontrolling interests | [1],[2],[3] | $ 7,449 | $ 6,208 | ||||||||||||
Adjustments to reconcile net income before allocation to noncontrolling interests to net cash provided by operating activities: | |||||||||||||||
Depreciation and amortization | [1] | 3,129 | 3,129 | ||||||||||||
Asset write-offs and impairments | [1] | 41 | 97 | ||||||||||||
Adjustments to loss on sale of HIS net assets | [1],[4] | 1 | 64 | ||||||||||||
TCJA impact | [1],[5] | (68) | 0 | ||||||||||||
Deferred taxes from continuing operations | [1] | (500) | 320 | ||||||||||||
Share-based compensation expense | [1] | 379 | 388 | ||||||||||||
Benefit plan contributions in excess of expense | [1] | (826) | (1,079) | ||||||||||||
Other adjustments, net | [1] | (523) | (458) | ||||||||||||
Other changes in assets and liabilities, net of acquisitions and divestitures | [1] | (3,250) | (3,844) | ||||||||||||
Net cash provided by operating activities | [1] | 5,830 | 4,824 | ||||||||||||
Investing Activities | |||||||||||||||
Purchases of property, plant and equipment | [1] | (810) | (806) | ||||||||||||
Purchases of short-term investments | [1] | (3,122) | (2,394) | ||||||||||||
Proceeds from redemptions/sales of short-term investments | [1] | 10,497 | 3,517 | ||||||||||||
Net proceeds from redemptions/sales of short-term investments with original maturities of three months or less | [1] | 1,231 | 3,424 | ||||||||||||
Purchases of long-term investments | [1] | (1,070) | (1,663) | ||||||||||||
Proceeds from redemptions/sales of long-term investments | [1] | 1,361 | 1,538 | ||||||||||||
Acquisitions of businesses, net of cash acquired | [1] | 0 | (1,000) | ||||||||||||
Acquisitions of intangible assets | [1] | (32) | (41) | ||||||||||||
Other investing activities, net | [1] | 138 | 455 | ||||||||||||
Net cash provided by investing activities | [1] | 8,193 | 3,030 | ||||||||||||
Financing Activities | |||||||||||||||
Proceeds from short-term borrowings | [1] | 1,746 | 4,799 | ||||||||||||
Principal payments on short-term borrowings | [1] | (2,921) | (5,088) | ||||||||||||
Net proceeds from short-term borrowings with original maturities of three months or less | [1] | 2,092 | 265 | ||||||||||||
Proceeds from issuance of long-term debt | [1] | 0 | 5,273 | ||||||||||||
Principal payments on long-term debt | [1] | (3,104) | (4,473) | ||||||||||||
Purchases of common stock | [1] | (6,063) | (5,000) | ||||||||||||
Cash dividends paid | [1] | (4,021) | (3,855) | ||||||||||||
Proceeds from exercise of stock options | [1] | 474 | 411 | ||||||||||||
Other financing activities, net | [1] | (831) | (228) | ||||||||||||
Net cash used in financing activities | [1] | (12,628) | (7,896) | ||||||||||||
Effect of exchange-rate changes on cash and cash equivalents and restricted cash and cash equivalents | [1] | (15) | 37 | ||||||||||||
Net increase/(decrease) in cash and cash equivalents and restricted cash and cash equivalents | [1] | 1,381 | (5) | ||||||||||||
Cash and cash equivalents and restricted cash and cash equivalents, beginning | [1] | 1,431 | 2,666 | ||||||||||||
Cash and cash equivalents and restricted cash and cash equivalents, end | [1] | 2,811 | 2,661 | ||||||||||||
Non-cash transactions: | |||||||||||||||
Receipt of ICU Medical common stock | [1],[6] | 0 | 428 | ||||||||||||
Promissory note from ICU Medical | [1],[6] | 0 | 75 | ||||||||||||
Equity investment in Allogene received in exchange for Pfizer's allogeneic CAR T developmental program assets | [1],[6] | 92 | 0 | ||||||||||||
Cash paid (received) during the period for: | |||||||||||||||
Income taxes | [1] | 1,197 | 1,121 | ||||||||||||
Interest | [1] | 724 | 881 | ||||||||||||
Interest rate hedges | [1] | $ (71) | $ (226) | ||||||||||||
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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (PARENTHETICAL) - USD ($) $ in Millions |
6 Months Ended | |||||
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Jul. 01, 2018 |
Jul. 02, 2017 |
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Statement of Cash Flows [Abstract] | ||||||
TCJA impact | [1],[2] | $ 68 | $ 0 | |||
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Basis of Presentation and Significant Accounting Policies |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jul. 01, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Basis of Presentation and Significant Accounting Policies | Basis of Presentation and Significant Accounting Policies A. Basis of Presentation See the Glossary of Defined Terms at the beginning of this Quarterly Report on Form 10-Q for terms used throughout the condensed consolidated financial statements and related notes of this Quarterly Report on Form 10-Q. We prepared the condensed consolidated financial statements following the requirements of the SEC for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by U.S. GAAP can be condensed or omitted. The financial information included in our condensed consolidated financial statements for subsidiaries operating outside the U.S. is as of and for the three and six months ended May 27, 2018 and May 28, 2017. The financial information included in our condensed consolidated financial statements for U.S. subsidiaries is as of and for the three and six months ended July 1, 2018 and July 2, 2017. Revenues, expenses, assets and liabilities can vary during each quarter of the year. Therefore, the results and trends in these interim financial statements may not be representative of those for the full year. We are responsible for the unaudited financial statements included in this Quarterly Report on Form 10-Q. The interim financial statements include all normal and recurring adjustments that are considered necessary for the fair statement of our condensed consolidated balance sheets and condensed consolidated statements of income. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the consolidated financial statements and accompanying notes included in our 2017 Form 10-K. We manage our commercial operations through two distinct business segments: Pfizer Innovative Health (IH) and Pfizer Essential Health (EH). For additional information, see Note 13 and Notes to Consolidated Financial Statements––Note 18. Segment, Geographic and Other Revenue Information in Pfizer’s 2017 Financial Report. Certain amounts in the condensed consolidated financial statements and associated notes may not add due to rounding. All percentages have been calculated using unrounded amounts. In the first quarter of 2018, as of January 1, 2018, we adopted eleven new accounting standards. See Note 1B for further information. Our significant business development activities include:
For additional information, see Note 2 and Notes to Consolidated Financial Statements––Note 2. Acquisitions, Sale of Hospira Infusion Systems Net Assets, Research and Development and Collaborative Arrangements, Equity-Method Investments and Cost-Method Investment in Pfizer’s 2017 Financial Report. B. Adoption of New Accounting Standards On January 1, 2018, we adopted eleven new accounting standards. The quantitative impacts on our prior period condensed consolidated financial statements of adopting the following new standards are summarized in the tables within the section titled Impacts to our Condensed Consolidated Financial Statements, further below. Revenues––We adopted a new accounting standard for revenue recognition and changed our revenue recognition policies accordingly. Generally, the previous revenue recognition standards permitted recognition when persuasive evidence of a contract existed, delivery had occurred, and the seller's price to the buyer was fixed or determinable. Under the new standard, revenue is recognized upon transfer of control of the product to our customer in an amount that reflects the consideration we expect to receive in exchange. We adopted the new accounting standard utilizing the modified retrospective method, and, therefore, no adjustments were made to amounts in our prior period financial statements. We recorded the cumulative effect of adopting the standard as an adjustment to increase the opening balance of Retained earnings by $584 million on a pre-tax basis ($450 million after-tax). This amount includes $500 million (pre-tax) related to the timing of recognizing Other (income)/deductions––net primarily for upfront and milestone payments on our collaboration arrangements ($394 million, pre-tax) and, to a lesser extent, product rights and out-licensing arrangements, and $84 million (pre-tax) related to the timing of recognizing Revenues and Cost of sales on certain product shipments. The impact of adoption did not have a material impact to our condensed consolidated statements of income for the three and six months ended July 1, 2018 or our condensed consolidated balance sheet as of July 1, 2018. For additional information, see Note 1C. Financial Assets and Liabilities––The new accounting standard related to the recognition and measurement of financial assets and liabilities makes the following changes to prior guidance and requires:
We adopted the new accounting standard utilizing the modified retrospective method, and, therefore, no adjustments were made to amounts in our prior period financial statements. We recorded the cumulative effect of adopting the standard as an adjustment to increase the opening balance of Retained earnings by $462 million on a pre-tax basis ($419 million after-tax) related to the net impact of unrealized gains and losses primarily on available-for-sale equity securities, restricted stock and private equity securities. In the second quarter and first six months of 2018, we recorded net unrealized gains on equity securities of $226 million and $337 million, respectively, in Other (income)/deductions––net. For additional information, see Note 4 and Note 7. Presentation of Net Periodic Pension and Postretirement Benefit Cost––We adopted a new accounting standard that requires the net periodic pension and postretirement benefit costs other than the service costs be presented in Other (income)/deductions––net, and that the presentation be applied retrospectively. We adopted the presentation of the net periodic benefit costs other than service costs by reclassifying these costs from Cost of sales, Selling, informational and administrative expenses, Research and development expenses and Restructuring charges and certain acquisition-related costs to Other (income)/deductions––net. We elected to apply the practical expedient as it is impracticable to determine the disaggregation of the cost components for amounts capitalized within Inventories and property, plant and equipment and amortized in each of those periods. We have therefore reclassified the prior period net periodic benefit costs/(credits) disclosed in Note 10 to apply the retrospective presentation for comparative periods. As of January 1, 2018, only service costs will be included in amounts capitalized in Inventories or property, plant and equipment, while the other components of net periodic benefit costs will be included in Other (income)/deductions––net. For additional information, see Note 4 and Note 10. Income Tax Accounting––The new guidance removes the prohibition against recognizing current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to a third party, unless the asset transferred is inventory. We adopted the standard utilizing the modified retrospective method, and, therefore, no adjustments were made to amounts in our prior period financial statements. We recorded the cumulative effect of adopting the standard as an adjustment to decrease the opening balance of Retained earnings by $189 million. Accounting for Hedging Activities––The standard makes the following changes:
We early adopted the new accounting standard on January 1, 2018 on a prospective basis. In the second quarter and first six months of 2018, we recorded income of $16 million and $45 million, respectively, in Other (income)/deductions––net, whereas this item would have been classified in interest income in prior periods. For additional information, see Note 7F. Reclassification of Certain Tax Effects from AOCI––We early adopted a new accounting standard that provides guidance on the reclassification of certain tax effects from AOCI. Under the new guidance, we elected to reclassify the stranded tax amounts related to the TCJA from AOCI to Retained earnings. We adopted the new accounting standard utilizing the modified retrospective method, and recorded the cumulative effect of adopting the standard as an adjustment to increase the opening balance of Retained earnings by $495 million, primarily due to the effect of the change in the U.S. Federal corporate tax rate. The impact on other stranded tax amounts related to the application of the TCJA was not material to our condensed consolidated financial statements. Classification of Certain Transactions in the Statement of Cash Flows––We retrospectively adopted an accounting standard that changed the presentation of certain information in the condensed consolidated statements of cash flows, including the classification of:
The new standard also establishes guidance on the classification of certain cash flows related to contingent consideration in a business acquisition. Cash payments made soon after a business acquisition date will be classified as Investing activities, while payments made thereafter will be classified as Financing activities. Payments made in excess of the amount of the original contingent consideration liability will be classified as Operating activities. The adoption of this guidance did not have a material impact to our condensed consolidated financial statements. Presentation of Restricted Cash in the Statement of Cash Flows––We adopted, on a retrospective basis, the new accounting standard, which requires that restricted cash and restricted cash equivalents be included with Cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown in the condensed consolidated statements of cash flows. As a result, for the six months ended July 1, 2018, $19 million is presented as an increase in Cash, cash equivalents, restricted cash and restricted cash equivalents. Definition of a Business––We prospectively adopted the standard for determining whether business development transactions should be accounted for as acquisitions (or disposals) of assets or businesses. If substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset, the transaction will not qualify for treatment as a business. To be considered a business, a set of integrated activities and assets must include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create outputs, without regard as to whether a purchaser could replace missing elements. In addition, the definition of the term “output” has been narrowed to make it consistent with the updated revenue recognition guidance. In the second quarter and first six months of 2018, there was no impact to our condensed consolidated financial statements from the adoption of this new standard. Derecognition of Nonfinancial Assets––We prospectively adopted the standard, which applies to the full or partial sale or transfer of nonfinancial assets, including intangible assets, real estate and inventory. The standard provides that the gain or loss is determined by the difference between the consideration received and the carrying value of the asset. In the second quarter and first six months of 2018, there was no impact to our condensed consolidated financial statements from the adoption of this new standard. Accounting for Modifications of Share-Based Payment Awards––We prospectively adopted the standard, which clarifies that certain changes in the terms or conditions of a share-based payment award be accounted for as a modification. There was no impact to our condensed consolidated financial statements from the adoption of this new standard. Impacts to our Condensed Consolidated Financial Statements––The impacts on our prior period condensed consolidated financial statements of adopting the new standards described above are summarized in the following tables:
Amounts included in restricted cash represent those required to be set aside by a contractual agreement in connection with ongoing litigation or to secure delivery of Pfizer medicines at the agreed upon terms. The restriction will lapse upon the resolution of the litigation or the proper delivery of the medicines. C. Revenues On January 1, 2018, we adopted a new accounting standard for revenue recognition. For further information, see Note 1B. We recorded direct product and/or alliance revenues of more than $1 billion for each of nine products in 2017. These direct products sales and/or alliance product revenues represented 46% of our revenues in 2017. The loss or expiration of intellectual property rights can have a significant adverse effect on our revenues as our contracts with customers will generally be at lower selling prices due to added competition and we generally provide for higher sales returns during the period in which individual markets begin to near the loss or expiration of intellectual property rights. Our Consumer Healthcare business includes OTC brands with a focus on dietary supplements, pain management, gastrointestinal and respiratory and personal care. According to Euromonitor International’s retail sales data, in 2017, our Consumer Healthcare business was the fifth-largest branded multi-national, OTC consumer healthcare business in the world and produced two of the ten largest selling consumer healthcare brands (Centrum and Advil) in the world. We sell biopharmaceutical products after patent expiration, and under patent, and, to a much lesser extent, consumer healthcare products worldwide to developed and emerging market countries. Revenue Recognition––We record revenues from product sales when there is a transfer of control of the product from us to the customer. We determine transfer of control based on when the product is shipped or delivered and title passes to the customer.
Biopharmaceutical products that ultimately are used by patients are generally covered under governmental programs, managed care programs and insurance programs, including those managed through pharmacy benefit managers, and are subject to sales allowances and/or rebates payable directly to those programs. Those sales allowances and rebates are generally negotiated, but government programs may have legislated amounts by type of product (e.g., patented or unpatented).
Specifically:
Our accruals for Medicare rebates, Medicaid and related state program rebates, performance-based contract rebates, chargebacks, sales allowances and sales returns and cash discounts totaled $5.4 billion and $4.9 billion as of July 1, 2018 and December 31, 2017, respectively.
Amounts recorded for revenue deductions can result from a complex series of judgments about future events and uncertainties and can rely heavily on estimates and assumptions. On a quarterly basis, our adjustments of estimates to reflect actual results generally have been less than 1% of revenues, and have resulted in either a net increase or a net decrease in Revenues. Product-specific rebates, however, can have a significant impact on year-over-year individual product growth trends. Taxes collected from customers relating to product sales and remitted to governmental authorities are excluded from Revenues. D. Collaborative Arrangements Payments to and from our collaboration partners are presented in our condensed consolidated statements of income based on the nature of the arrangement (including its contractual terms), the nature of the payments and applicable accounting guidance. Under co-promotion agreements, we record the amounts received from our collaboration partners as alliance revenues, a component of Revenues, when our collaboration partners are the principal in the transaction and we receive a share of their net sales or profits. Alliance revenues are recorded as we perform co-promotion services for the collaboration and the collaboration partners sell the products to their customers within the applicable period. The related expenses for selling and marketing these products are included in Selling, informational and administrative expenses. In collaborative arrangements where we manufacture a product for our collaboration partners, we record revenues when we transfer control of the product to our collaboration partners. All royalty payments to collaboration partners are included in Cost of sales. Royalty payments received from collaboration partners are included in Other (income)/deductions—net. Reimbursements to or from our collaboration partners for development costs are recorded net in Research and development expenses. Upfront payments and pre-approval milestone payments due from us to our collaboration partners in development stage collaborations are recorded as Research and development expenses. Milestone payments due from us to our collaboration partners after regulatory approval has been attained for a medicine are recorded in Identifiable intangible assets—Developed technology rights. Upfront and pre-approval milestone payments earned from our collaboration partners by us are recognized in Other (income)/deductions—net over the development period for the collaboration products, when our performance obligations include providing R&D services to our collaboration partners. Upfront, pre-approval and post-approval milestone payments earned by us may be recognized in Other (income)/deductions—net immediately when earned or over other periods depending upon the nature of our performance obligations in the applicable collaboration. Where the milestone event is regulatory approval for a medicine, we generally recognize milestone payments due to us in the transaction price when regulatory approval in the applicable jurisdiction has been attained. We may recognize milestone payments due to us in the transaction price earlier than the milestone event in certain circumstances when recognition of the income would not be probable of a significant reversal. On January 1, 2018, we adopted a new accounting standard on revenue recognition (see Note 1B). As a result of the adoption, we recognized the following cumulative effect adjustments related to collaboration arrangements to Retained earnings:
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Acquisition, Divestitures, Licensing Arrangements, Collaborative Arrangements and Privately Held Investment |
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Jul. 01, 2018 | |
Business Combinations, Discontinued Operations And Disposal Groups, Collaborative Arrangements And Equity Method Investments [Abstract] | |
Acquisition, Divestitures, Licensing Arrangements, Collaborative Arrangements and Privately Held Investment | Acquisition, Divestitures, Licensing Arrangements, Collaborative Arrangements and Privately Held Investment A. Acquisition AstraZeneca’s Small Molecule Anti-Infectives Business (EH) On December 22, 2016, which fell in the first fiscal quarter of 2017 for our international operations, we acquired the development and commercialization rights to AstraZeneca’s small molecule anti-infectives business, primarily outside the U.S., including the commercialization and development rights to the approved EU drug Zavicefta™ (ceftazidime-avibactam), the marketed agents Merrem™/Meronem™ (meropenem) and Zinforo™ (ceftaroline fosamil), and the clinical development assets ATM-AVI and CXL (ceftaroline fosamil-AVI). Under the terms of the agreement, we made an upfront payment of approximately $552 million to AstraZeneca upon the close of the transaction and an additional $3 million payment for a contractual purchase price adjustment in the second quarter of 2017. We also made a $50 million milestone payment in the second quarter of 2017, we made an additional milestone payment of $125 million in our first fiscal quarter of 2018 and we will make a deferred payment of $175 million to AstraZeneca in January 2019. In addition, AstraZeneca may be eligible to receive an additional milestone payment of $75 million if the related milestone is achieved prior to December 31, 2021, and up to $600 million if sales of Zavicefta™ exceed certain thresholds prior to January 1, 2026, as well as tiered royalties on sales of Zavicefta™ and ATM-AVI in certain markets for a period ending on the later of 10 years from first commercial sale or the loss of patent protection or loss of regulatory exclusivity. The total royalty payments are unlimited during the royalty term and the undiscounted payments are expected to be in the range of approximately $250 million to $430 million. The total fair value of consideration transferred for AstraZeneca’s small molecule anti-infectives business was approximately $1,040 million, which includes $555 million in cash, plus the fair value of contingent consideration of $485 million (which is composed of the deferred payment, the $50 million milestone payment made in the second quarter of 2017, the $125 million milestone payment made in our first fiscal quarter of 2018 and the future expected milestone and royalty payments). In connection with this acquisition, we recorded $894 million in Identifiable intangible assets, consisting of $728 million in Developed technology rights and $166 million in IPR&D. We also recorded $92 million in Other current assets related to the economic value of inventory which was retained by AstraZeneca for sale on our behalf, $73 million in Goodwill and $19 million of net deferred tax liabilities. The final allocation of the consideration transferred to the assets acquired and the liabilities assumed has been completed. B. Divestitures Sale of Hospira Infusion Systems Net Assets to ICU Medical, Inc. (EH) On October 6, 2016, we announced that we entered into a definitive agreement under which ICU Medical agreed to acquire all of our global infusion systems net assets, HIS, for approximately $1 billion in cash and ICU Medical common stock. HIS includes IV pumps, solutions, and devices. As a result of the performance of HIS relative to ICU Medical’s expectations, on January 5, 2017, we entered into a revised agreement with ICU Medical under which ICU Medical would acquire HIS for up to approximately $900 million, composed of cash and contingent cash consideration, ICU Medical common stock and seller financing. The revised transaction closed on February 3, 2017. At closing, under the terms of the revised agreement, we received 3.2 million newly issued shares of ICU Medical common stock (as originally agreed), which we initially valued at approximately $428 million (based upon the closing price of ICU Medical common stock on the closing date less a discount for lack of marketability) and which are reported as equity securities at fair value in Long-term investments on the condensed consolidated balance sheets as of July 1, 2018 and December 31, 2017, a promissory note in the amount of $75 million, which was repaid in full as of December 31, 2017, and net cash of approximately $200 million before customary adjustments for net working capital, which is reported in Other investing activities, net on the condensed consolidated statement of cash flows for the six months ended July 2, 2017. In addition, we are entitled to receive a contingent amount of up to an additional $225 million in cash based on ICU Medical’s achievement of certain cumulative performance targets for the combined company through December 31, 2019. After receipt of the ICU Medical shares, we own approximately 16% of ICU Medical. We have agreed to certain restrictions on transfer of our ICU Medical shares for 18 months after the closing date. We recognized pre-tax income of approximately $2 million in the second quarter of 2018 and a pre-tax loss of approximately $1 million in the first six months of 2018, and we recognized pre-tax losses of approximately $28 million and $64 million in the second quarter and first six months of 2017, respectively, in Other (income)/deductions––net, representing adjustments to amounts previously recorded in 2016 to write down the HIS net assets to fair value less costs to sell. For additional information, see Note 4 and Notes to Consolidated Financial Statements––Note 2. Acquisitions, Sale of Hospira Infusion Systems Net Assets, Research and Development and Collaborative Arrangements, Equity-Method Investments and Cost-Method Investment in Pfizer’s 2017 Financial Report. While we have received the full purchase price excluding the contingent amount as of the February 3, 2017 closing, the sale of the HIS net assets was not completed in certain non-U.S. jurisdictions due to temporary regulatory or operational constraints. In these jurisdictions, which represent a relatively small portion of the HIS net assets, we have continued to operate the net assets for the net economic benefit of ICU Medical, and we are indemnified by ICU Medical against risks associated with such operations during the interim period, subject to our obligations under the definitive transaction agreements. Sales of the HIS net assets have occurred in nearly all of these jurisdictions as of December 31, 2017 and we expect the sale of the HIS net assets in the remaining jurisdictions to be fully completed by the third quarter of 2018. As such, and as we have already received all of the non-contingent proceeds from the sale and ICU Medical is contractually obligated to complete the transaction, we have treated these jurisdictions as sold for accounting purposes. In connection with the sale transaction, we entered into certain transitional agreements designed to facilitate the orderly transition of the HIS net assets to ICU Medical. These agreements primarily relate to administrative services, which are generally to be provided for a period of up to 24 months after the closing date. We will also manufacture and supply certain HIS products for ICU Medical and ICU Medical will manufacture and supply certain retained Pfizer products for us after closing, generally for a term of five years. These agreements are not material to Pfizer and none confers upon us the ability to influence the operating and/or financial policies of ICU Medical subsequent to the sale. Contribution Agreement Between Pfizer and Allogene Therapeutics, Inc. (IH) In April 2018, Pfizer and Allogene announced that the two companies entered into a contribution agreement for Pfizer’s portfolio of assets related to allogeneic CAR T therapy, an investigational immune cell therapy approach to treating cancer. Under this agreement, Allogene will receive from Pfizer rights to pre-clinical and clinical CAR T assets, all of which were previously licensed to Pfizer from French cell therapy company, Cellectis, and French pharmaceutical company, Servier, beginning in 2014 and 2015, respectively. Allogene will assume responsibility for all potential financial obligations to both Cellectis and Servier. Pfizer will continue to participate financially in the development of the CAR T portfolio through a 25% ownership stake in Allogene. Separately, Pfizer continues to maintain its approximate 7% ownership stake in Cellectis that was obtained in 2014 as part of the licensing agreement in which Pfizer obtained exclusive rights to pursue the development and commercialization of certain Cellectis CAR T therapies in exchange for an upfront payment of $80 million, as well as potential future development, regulatory and commercial milestone payments and royalties. In connection with the Allogene transaction, Pfizer recognized a non-cash $50 million pre-tax gain in Other (income)/deductions––net, representing the difference between the fair value of the equity investment received and the book value of assets transferred (including an allocation of goodwill) (see Note 4). Sale of Phase 2b Ready AMPA Receptor Potentiator for CIAS to Biogen Inc. (WRD) In April 2018, we sold our Phase 2b ready AMPA receptor potentiator for CIAS to Biogen. We received $75 million upfront and have the opportunity to receive up to $515 million in future development and commercialization milestones, as well as tiered royalties in the low-to-mid-teen percentages. We recognized $75 million in Other (income)/deductions––net in the second quarter of 2018 (see Note 4). We will record the milestones and royalties to Other (income)/deductions––net when due, or earlier if we have sufficient experience to determine such amounts are not probable of significant reversal. C. Licensing Arrangement Shire International GmbH In 2016, we out-licensed PF-00547659, an investigational biologic being evaluated for the treatment of moderate-to-severe inflammatory bowel disease, including ulcerative colitis and Crohn’s disease, to Shire for an upfront payment of $90 million, up to $460 million in development and sales-based milestone payments and potential future royalty payments on commercialized products. The $90 million upfront payment was initially deferred and recognized in Other (income)/deductions––net ratably through December 2017. In the first quarter of 2018, we recognized $75 million in Other (income)/deductions––net for a milestone payment received from Shire related to their first dosing of a patient in a Phase 3 clinical trial of the compound for the treatment of ulcerative colitis (see Note 4). D. Collaboration Arrangements Collaboration with Merck & Co., Inc. In 2013, we announced that we entered into a worldwide collaboration agreement, except for Japan, with Merck for the development and commercialization of ertugliflozin (PF-04971729), our oral sodium glucose cotransporter (SGLT2) inhibitor for the treatment of type 2 diabetes. Under the agreement, we collaborated with Merck on the clinical development of ertugliflozin and ertugliflozin-containing fixed-dose combinations with metformin and Januvia (sitagliptin) tablets, which were approved by the FDA in December 2017 and the European Commission in March 2018 as Steglatro, Segluromet and Steglujan, respectively. The Merck sales force will exclusively promote Steglatro and the two fixed-dose combination products and we will share revenues and certain costs with Merck on a 60%/40% basis, with Pfizer having the 40% share. Pfizer will record its share of the collaboration revenues as product sales as we supply the ertugliflozin active pharmaceutical ingredient to Merck for use in the alliance products. In the first quarter of 2017, we received a $90 million milestone payment from Merck upon the FDA’s acceptance for review of the NDAs for ertugliflozin and two fixed-dose combinations (ertugliflozin plus Januvia (sitagliptin) and ertugliflozin plus metformin), which, as of December 31, 2017, was deferred and primarily reported in Other noncurrent liabilities, and through December 31, 2017, was being recognized in Other (income)/deductions––net over a multi-year period. As of December 31, 2017, we were due a $60 million milestone payment from Merck, which we received in the first quarter of 2018, in conjunction with the approval of ertugliflozin by the FDA. As of December 31, 2017, the $60 million due from Merck was deferred and primarily reported in Other noncurrent liabilities. In the first quarter of 2018, in connection with the approval of ertugliflozin in the EU, we recognized a $40 million milestone payment from Merck in Other (income)/deductions––net (see Note 4). We are eligible for additional payments associated with the achievement of future regulatory and commercial milestones. In the first quarter of 2018, in connection with the adoption of a new accounting standard, as of January 1, 2018, the $60 million of deferred income and approximately $85 million of the $90 million of deferred income associated with the above-mentioned milestone payments were recorded to and included in the $584 million cumulative effect adjustment to Retained earnings. See Note 1B for additional information. Collaboration with Eli Lilly & Company In 2013, we entered into a collaboration agreement with Lilly to jointly develop and globally commercialize Pfizer’s tanezumab, which provides that Pfizer and Lilly will equally share product-development expenses as well as potential revenues and certain product-related costs. We received a $200 million upfront payment from Lilly in accordance with the collaboration agreement between Pfizer and Lilly, which was deferred and primarily reported in Other noncurrent liabilities, and through December 31, 2017, was being recognized in Other (income)/deductions––net over a multi-year period beginning in the second quarter of 2015. Pfizer and Lilly resumed the Phase 3 chronic pain program for tanezumab in July 2015. The FDA granted Fast Track designation for tanezumab for the treatment of chronic pain in patients with osteoarthritis and chronic low back pain in June 2017. Under the collaboration agreement with Lilly, we are eligible to receive additional payments from Lilly upon the achievement of specified regulatory and commercial milestones. In the first quarter of 2018, in connection with the adoption of a new accounting standard, as of January 1, 2018, approximately $107 million of deferred income associated with the above-mentioned upfront payment was recorded to and included in the $584 million cumulative effect adjustment to Retained earnings. See Note 1B for additional information. Approximately $43 million of the upfront payment continues to be deferred, of which approximately $29 million is reported in Other current liabilities and approximately $14 million is reported in Other noncurrent liabilities as of July 1, 2018. This amount is expected to be recognized in Other (income)/deductions––net over the remaining development period for the product between 2018 and 2020. E. Privately Held Investment AM-Pharma B.V. In April 2015, we acquired a minority equity interest in AM-Pharma B.V., a privately-held Dutch biopharmaceutical company focused on the development of human recombinant Alkaline Phosphatase (recAP) for inflammatory diseases, and secured an exclusive option to acquire the remaining equity in the company. The option became exercisable after completion of a Phase 2 trial of recAP in the treatment of Acute Kidney Injury related to sepsis in the first quarter of 2018. We have declined to exercise the option and the option expired unexercised during the second quarter of 2018. |
Restructuring Charges and Other Costs Associated with Acquisitions and Cost-Reduction/Productivity Initiatives |
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Restructuring Charges and Other Costs Associated with Acquisitions and Cost-Reduction/Productivity Initiatives | Restructuring Charges and Other Costs Associated with Acquisitions and Cost-Reduction/Productivity Initiatives We incur significant costs in connection with acquiring, integrating and restructuring businesses and in connection with our global cost-reduction/productivity initiatives. For example:
All of our businesses and functions may be impacted by these actions, including sales and marketing, manufacturing and R&D, as well as groups such as information technology, shared services and corporate operations. In connection with our acquisition of Hospira, we are focusing our efforts on achieving an appropriate cost structure for the combined company. We expect to incur costs of approximately $1 billion (not including costs of $215 million associated with the return of acquired IPR&D rights as described in the Current-Period Key Activities section of Notes to Consolidated Financial Statements––Note 3. Restructuring Charges and Other Costs Associated with Acquisitions and Cost-Reduction/Productivity Initiatives in our 2017 Financial Report) associated with the integration of Hospira. The majority of these costs are expected to be incurred within the three-year period post-acquisition. As a result of the evaluation performed in connection with our decision in September 2016 to not pursue, at that time, splitting IH and EH into two separate publicly-traded companies, we identified new opportunities to potentially achieve greater optimization and efficiency to become more competitive in our business. Therefore, in early 2017, we initiated new enterprise-wide cost reduction/productivity initiatives, which we expect to substantially complete by the end of 2019. These initiatives encompass all areas of our cost base and include:
The costs expected to be incurred during 2017-2019, of approximately $1.2 billion for the above-mentioned programs (but not including expected costs associated with the Hospira integration), include restructuring charges, implementation costs and additional depreciation––asset restructuring. Of this amount, we expect that about 20% of the total charges will be non-cash. Current-Period Key Activities For the first six months of 2018, we incurred costs of $152 million associated with the 2017-2019 program, $81 million associated with the integration of Hospira and $29 million associated with all other acquisition-related initiatives.
The restructuring activities for 2018 are associated with the following:
The restructuring activities for 2017 are associated with the following:
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Other Income and Expenses [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other (Income)/Deductions - Net | Other (Income)/Deductions—Net
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Tax Matters |
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Income Tax Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tax Matters | Tax Matters A. Taxes on Income from Continuing Operations In the fourth quarter of 2017, we recorded an estimate of certain tax effects of the TCJA, including the impact on deferred tax assets and liabilities from the reduction in the U.S. Federal corporate tax rate from 35% to 21%, the impact on valuation allowances and other state income tax considerations, the $15.2 billion repatriation tax liability on accumulated post-1986 foreign earnings for which we plan to elect payment over eight years through 2026 (with the first of eight installments due in April 2019) that is reported primarily in Other taxes payable, and deferred taxes on basis differences expected to give rise to future taxes on global intangible low-taxed income. In addition, we had provided deferred tax liabilities in the past on foreign earnings that were not indefinitely reinvested. As a result of the TCJA, we reversed an estimate of the deferred taxes that are no longer expected to be needed due to the change to the territorial tax system. The estimated amounts recorded may change in the future due to uncertain tax positions. With respect to the aforementioned repatriation tax liability related to the TCJA repatriation tax, our obligations may vary as a result of changes in our uncertain tax positions and/or availability of attributes such as foreign tax and other credit carryforwards. The TCJA subjects a U.S. shareholder to current tax on global intangible low-taxed income earned by certain foreign subsidiaries. The FASB Staff Q&A, Topic 740, No. 5, Accounting for Global Intangible Low-Taxed Income, states that we are permitted to make an accounting policy election to either recognize deferred taxes for temporary basis differences expected to reverse as global intangible low-taxed income in future years or provide for the tax expense related to such income in the year the tax is incurred. We have elected to recognize deferred taxes for temporary differences expected to reverse as global intangible low-taxed income in future years. However, given the complexity of these provisions, we have not finalized our analysis. We were able to make a reasonable estimate of the deferred taxes on the temporary differences expected to reverse in the future and provided a provisional deferred tax liability of approximately $1 billion as of December 31, 2017. The provisional amount is based on the evaluation of certain temporary differences inside each of our foreign subsidiaries that are expected to reverse as global intangible low-taxed income. However, as we continue to evaluate the TCJA’s global intangible low-taxed income provisions during the measurement period, we may revise the methodology used for determining the deferred tax liability associated with such income. We believe that we have made reasonable estimates with respect to each of the above items, however, all of the amounts recorded are provisional as we have not completed our analysis of the complex and far reaching effects of the TCJA. Further, we continue to consider our assertions on any remaining outside basis differences in our foreign subsidiaries as of July 1, 2018 and have not completed our analysis. Under guidance issued by the staff of the SEC, we expect to finalize our accounting related to the tax effects of the TCJA on deferred taxes, valuation allowances, state tax considerations, the repatriation tax liability, global intangible low-taxed income, and any remaining outside basis differences in our foreign subsidiaries during 2018 as we complete our analysis, computations and assertions. It is possible that others, applying reasonable judgment to the same facts and circumstances, could develop and support a range of alternative estimated amounts. We will revise these estimates during the second half of 2018 as we gather additional information to complete our tax returns and as any interpretation or clarification of the TCJA occurs through legislation, U.S. Treasury actions or other means. Our effective tax rate for continuing operations was 14.3% for the second quarter of 2018, compared to 19.4% for the second quarter of 2017 and was 13.9% for the first six months of 2018, compared to 20.1% for the first six months of 2017. The lower effective tax rate for the second quarter and first six months of 2018 in comparison with the same periods in 2017 was primarily due to:
B. Deferred Taxes We have not completed our analysis of the TCJA on our prior assertion of indefinitely reinvested earnings. Accordingly, we continue to evaluate our assertion with respect to our accumulated foreign earnings subject to the deemed repatriation tax and we also continue to evaluate the amount of earnings that are indefinitely reinvested. Additionally, we continue to evaluate our assertions on any remaining outside basis differences in our foreign subsidiaries as of July 1, 2018 as we have not finalized our analysis of the effects of all of the new provisions in the TCJA. As of July 1, 2018, it is not practicable to estimate the additional deferred tax liability that would be recorded if the earnings subject to the deemed repatriation tax and any remaining outside basis differences as of July 1, 2018 are not indefinitely reinvested. In accordance with the authoritative guidance issued by the SEC Staff Accounting Bulletin 118, we expect to complete our analysis within the measurement period. C. Tax Contingencies We are subject to income tax in many jurisdictions, and a certain degree of estimation is required in recording the assets and liabilities related to income taxes. All of our tax positions are subject to audit by the local taxing authorities in each tax jurisdiction. These tax audits can involve complex issues, interpretations and judgments and the resolution of matters may span multiple years, particularly if subject to negotiation or litigation. Our assessments are based on estimates and assumptions that have been deemed reasonable by management, but our estimates of unrecognized tax benefits and potential tax benefits may not be representative of actual outcomes, and variation from such estimates could materially affect our financial statements in the period of settlement or when the statutes of limitations expire, as we treat these events as discrete items in the period of resolution. The U.S. is one of our major tax jurisdictions, and we are regularly audited by the IRS:
In addition to the open audit years in the U.S., we have open audit years in other major tax jurisdictions, such as Canada (2013-2018), Japan (2015-2018), Europe (2011-2018, primarily reflecting Ireland, the United Kingdom, France, Italy, Spain and Germany), Latin America (1998-2018, primarily reflecting Brazil) and Puerto Rico (2011-2018). D. Tax Provision/(Benefit) on Other Comprehensive Income/(loss)
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Accumulated Other Comprehensive Loss, Excluding Noncontrolling Interests | Accumulated Other Comprehensive Loss, Excluding Noncontrolling Interests
As of July 1, 2018, with respect to derivative financial instruments, the amount of unrealized pre-tax net gains on derivative financial instruments estimated to be reclassified into income within the next 12 months is approximately $213 million, which is expected to be offset primarily by net losses resulting from reclassification adjustments related to net losses related to available-for-sale debt securities and foreign currency exchange-denominated forecasted intercompany inventory sales. |
Financial Instruments |
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Financial Instruments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financial Instruments | Financial Instruments A. Fair Value Measurements Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis On January 1, 2018, we adopted a new accounting and disclosure standard related to accounting for the recognition of financial assets and liabilities. For additional information see Note 1B.
Financial Assets and Liabilities Not Measured at Fair Value on a Recurring Basis
The differences between the estimated fair values and carrying values of held-to-maturity debt securities, restricted stock and private equity securities at cost, and short-term borrowings not measured at fair value on a recurring basis were not significant as of July 1, 2018 or December 31, 2017. The fair value measurements of our held-to-maturity debt securities and our short-term borrowings are based on Level 2 inputs. The fair value measurements of our private equity securities carried at cost, which represent investments in the life sciences sector, are based on Level 3 inputs. In addition, as of July 1, 2018 and December 31, 2017, we had long-term receivables whose fair value is based on Level 3 inputs. As of July 1, 2018 and December 31, 2017, the differences between the estimated fair values and carrying values of these receivables were not significant. Total Short-Term and Long-Term Investments
Fair Value Methodology The following inputs and valuation techniques were used to estimate the fair value of our financial assets and liabilities:
We periodically review the methodologies, inputs and outputs of third-party pricing services for reasonableness. Our procedures can include, for example, referencing other third-party pricing models, monitoring key observable inputs (like LIBOR interest rates) and selectively performing test-comparisons of values with actual sales of financial instruments. B. Investments
C. Short-Term Borrowings
D. Long-Term Debt
E. Other Noncurrent Liabilities Mylotarg (gemtuzumab ozogamicin) In April 2018, the EU approved Mylotarg for the treatment of acute myeloid leukemia. In connection with the EU approval, we incurred an obligation to make guaranteed fixed annual payments over a ten-year period aggregating $301 million related to a research and development arrangement. We recorded the estimated net present value of $240 million as a liability and an intangible asset in Developed technology rights as of the approval date. In June 2018, we entered into a transaction with the obligee to buyout the remaining liability for the fixed annual payments for a lump sum payment of $224 million. As a result of the buyout transaction, the liability was extinguished and we recognized a non-cash $17 million pre-tax gain in Other (income)/deductions––net in the second quarter of 2018 (see Note 4). Bosulif (bosutinib) In December 2017, the U.S. FDA approved Bosulif for the treatment of patients with newly-diagnosed chronic-phase Ph+ CML. In connection with the U.S. approval, we incurred an obligation to make guaranteed fixed annual payments over a ten-year period aggregating $416 million related to a research and development arrangement. We recorded the estimated net present value of $364 million as of the approval date as an intangible asset in Developed technology rights. The present value of the remaining future payments as of July 1, 2018 is $285 million, of which $30 million is recorded in Other current liabilities and $255 million is recorded in Other noncurrent liabilities. Besponsa (inotuzumab ozogamicin) In August 2017, the U.S. FDA approved Besponsa and in June 2017, the EU approved Besponsa as monotherapy for the treatment of adults with relapsed or refractory CD22-positive B-cell precursor acute lymphoblastic leukemia. In connection with the U.S. approval, we incurred an obligation to make guaranteed fixed annual payments over a nine-year period aggregating $296 million related to a research and development arrangement. We recorded the estimated net present value of $248 million as of the approval date as an intangible asset in Developed technology rights. The present value of the remaining future payments as of July 1, 2018 is $239 million, of which $7 million is recorded in Other current liabilities and $232 million is recorded in Other noncurrent liabilities. In connection with the EU approval, we incurred an obligation to make guaranteed fixed annual payments over a nine-year period aggregating $148 million related to a research and development arrangement. We recorded the estimated net present value of $123 million as of the approval date as an intangible asset in Developed technology rights. The present value of the remaining future payments as of July 1, 2018 is $120 million, of which $3 million is recorded in Other current liabilities and $117 million is recorded in Other noncurrent liabilities. The differences between the estimated fair values in the Level 2 fair value hierarchy and carrying values of these obligations were not significant as of July 1, 2018. F. Derivative Financial Instruments and Hedging Activities We adopted a new accounting standard in the first quarter of 2018, as of January 2018. For additional information, see Note 1B. Foreign Exchange Risk A significant portion of our revenues, earnings and net investments in foreign affiliates is exposed to changes in foreign exchange rates. We manage our foreign exchange risk, in part, through operational means, including managing same-currency revenues in relation to same-currency costs and same-currency assets in relation to same-currency liabilities. We also manage our foreign exchange risk, depending on market conditions, through fair value, cash flow, and net investment hedging programs through the use of derivative financial instruments and foreign currency debt. These financial instruments serve to protect net income against the impact of remeasurement into another currency, or against the impact of translation into U.S. dollars of certain foreign exchange-denominated transactions. All derivative financial instruments used to manage foreign currency risk are measured at fair value and are reported as assets or liabilities on the consolidated balance sheet. The derivative financial instruments primarily hedge or offset exposures in the euro, Japanese yen, Swedish krona, and U.K. pound. Changes in fair value are reported in earnings or in Other comprehensive income/(loss), depending on the nature and purpose of the financial instrument (hedge or offset relationship) and the effectiveness of the hedge relationships, as follows:
As a part of our cash flow hedging program, we designate foreign exchange contracts to hedge a portion of our forecasted euro, Japanese yen, Canadian dollar, U.K. pound, Australian dollar, and Chinese renminbi-denominated intercompany inventory sales expected to occur no more than two years from the date of each hedge. For the second quarter and first six months ended July 2, 2017, any ineffectiveness is recognized immediately into earnings. There is no significant ineffectiveness for these periods. Interest Rate Risk Our interest-bearing investments and borrowings are subject to interest rate risk. With respect to our investments, we strive to maintain a predominantly floating-rate basis position, but our strategy may change based on prevailing market conditions. We currently borrow primarily on a long-term, fixed rate basis. Historically, we strove to borrow primarily on a floating-rate basis; but in recent years we borrowed on a long-term, fixed-rate basis. From time to time, depending on market conditions, we will change the profile of our outstanding debt by entering into derivative financial instruments like interest rate swaps. We entered into derivative financial instruments to hedge or offset the fixed interest rates on the hedged item, matching the amount and timing of the hedged item. The derivative financial instruments primarily hedge U.S. dollar fixed-rate debt. All derivative contracts used to manage interest rate risk are measured at fair value and reported as assets or liabilities on the consolidated balance sheet. Changes in fair value are reported in earnings, as follows:
For the second quarter and first six months ended July 2, 2017, any ineffectiveness is recognized immediately into earnings. There is no significant ineffectiveness for these periods.
Certain of our derivative instruments are covered by associated credit-support agreements that have credit-risk-related contingent features designed to reduce both counterparties’ exposure to risk of defaulting on amounts owed by the other party. As of July 1, 2018, the aggregate fair value of these derivative instruments that are in a net liability position was $413 million, for which we have posted collateral of $483 million in the normal course of business. If there had been a downgrade to below an A rating by S&P or the equivalent rating by Moody’s, we would not have been required to post any additional collateral to our counterparties. As of July 1, 2018, we received cash collateral of $473 million from various counterparties. The collateral primarily supports the approximate fair value of our derivative contracts. With respect to the collateral received, the obligations are reported in Short-term borrowings, including current portion of long-term debt. G. Credit Risk On an ongoing basis, we review the creditworthiness of counterparties to our foreign exchange and interest rate agreements and do not expect to incur a significant loss from failure of any counterparties to perform under the agreements. There are no significant concentrations of credit risk related to our financial instruments with any individual counterparty, except for certain significant customers. For additional information as to significant customers, see Notes to Consolidated Financial Statements––Note 18C. Segment, Geographic and Other Revenue Information: Other Revenue Information in Pfizer’s 2017 Financial Report. As of July 1, 2018, we had amounts due from a well-diversified, high quality group of bank ($2.1 billion) and technology ($751 million) companies around the world. For details about our investments, see Note 7B above. In general, there is no requirement for collateral from customers. However, derivative financial instruments are executed under credit-support agreements that provide for the ability to request to receive cash collateral, depending on levels of exposure, our credit rating and the credit rating of the counterparty, see Note 7F above. |
Inventories |
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Inventory Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Inventories | Inventories
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Identifiable Intangible Assets and Goodwill |
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Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Identifiable Intangible Assets and Goodwill | Identifiable Intangible Assets and Goodwill A. Identifiable Intangible Assets Balance Sheet Information
Amortization Total amortization expense for finite-lived intangible assets was $1.2 billion for each of the 2018 and 2017 second quarters, and $2.4 billion for the first six months of 2018 and 2017. B. Goodwill
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Pension and Postretirement Benefit Plans |
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Retirement Benefits [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pension and Postretirement Benefit Plans | Pension and Postretirement Benefit Plans
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Earnings Per Common Share Attributable to Common Shareholders |
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Earnings Per Common Share Attributable to Common Shareholders | Earnings Per Common Share Attributable to Common Shareholders
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Contingencies and Certain Commitments |
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Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||
Contingencies and Certain Commitments | Contingencies and Certain Commitments We and certain of our subsidiaries are subject to numerous contingencies arising in the ordinary course of business, including tax and legal contingencies. For a discussion of our tax contingencies, see Note 5C. For a discussion of our legal contingencies, see below. A. Legal Proceedings Our legal contingencies include, but are not limited to, the following:
Certain of these contingencies could result in losses, including damages, fines and/or civil penalties, which could be substantial, and/or criminal charges. We believe that our claims and defenses in matters in which we are a defendant are substantial, but litigation is inherently unpredictable and excessive verdicts do occur. We do not believe that any of these matters will have a material adverse effect on our financial position. However, we could incur judgments, enter into settlements or revise our expectations regarding the outcome of certain matters, and such developments could have a material adverse effect on our results of operations in the period in which the amounts are accrued and/or our cash flows in the period in which the amounts are paid. We have accrued for losses that are both probable and reasonably estimable. Substantially all of our contingencies are subject to significant uncertainties and, therefore, determining the likelihood of a loss and/or the measurement of any loss can be complex. Consequently, we are unable to estimate the range of reasonably possible loss in excess of amounts accrued. Our assessments are based on estimates and assumptions that have been deemed reasonable by management, but the assessment process relies heavily on estimates and assumptions that may prove to be incomplete or inaccurate, and unanticipated events and circumstances may occur that might cause us to change those estimates and assumptions. Amounts recorded for legal and environmental contingencies result from a complex series of judgments about future events and uncertainties and rely heavily on estimates and assumptions. The principal pending matters to which we are a party are discussed below. In determining whether a pending matter is a principal matter, we consider both quantitative and qualitative factors in order to assess materiality, such as, among other things, the amount of damages and the nature of any other relief sought in the proceeding, if such damages and other relief are specified; our view of the merits of the claims and of the strength of our defenses; whether the action purports to be, or is, a class action and, if not certified, our view of the likelihood that a class will be certified by the court; the jurisdiction in which the proceeding is pending; whether related actions have been transferred to multidistrict litigation; any experience that we or, to our knowledge, other companies have had in similar proceedings; whether disclosure of the action would be important to a reader of our financial statements, including whether disclosure might change a reader’s judgment about our financial statements in light of all of the information that is available to the reader; the potential impact of the proceeding on our reputation; and the extent of public interest in the matter. In addition, with respect to patent matters in which we are the plaintiff, we consider, among other things, the financial significance of the product protected by the patent(s) at issue. As a result of considering qualitative factors in our determination of principal matters, there are some matters discussed below with respect to which management believes that the likelihood of possible loss in excess of amounts accrued is remote. A1. Legal Proceedings––Patent Litigation Like other pharmaceutical companies, we are involved in numerous suits relating to our patents, including but not limited to, those discussed below. Most of the suits involve claims by generic drug manufacturers that patents covering our products, processes or dosage forms are invalid and/or do not cover the product of the generic drug manufacturer. Also, counterclaims, as well as various independent actions, have been filed alleging that our assertions of, or attempts to enforce, patent rights with respect to certain products constitute unfair competition and/or violations of antitrust laws. In addition to the challenges to the U.S. patents on a number of our products that are discussed below, patent rights to certain of our products are being challenged in various other jurisdictions. We are also party to patent damages suits in various jurisdictions pursuant to which generic drug manufacturers, payers, governments or other parties are seeking damages from us for allegedly causing delay of generic entry. Additionally, our licensing and collaboration partners face challenges by generic drug manufacturers to patents covering products for which we have licenses or co-promotion rights. We also are often involved in other proceedings, such as inter partes review, post-grant review, re-examination or opposition proceedings, before the U.S. Patent and Trademark Office, the European Patent Office, or other foreign counterparts relating to our intellectual property or the intellectual property rights of others. Also, if one of our patents is found to be invalid by such proceedings, generic or competitive products could be introduced into the market resulting in the erosion of sales of our existing products. For example, several of the patents in our pneumococcal vaccine portfolio were challenged in inter partes review and post-grant review proceedings in the United States. In June 2018, the Patent Trial and Appeal Board ruled on one patent, holding that one claim was valid and that all other claims were invalid. The party challenging that patent has appealed the decision. Challenges to other patents remain pending before the U.S. Patent and Trademark Office. The invalidation of these patents could potentially allow a competitor pneumococcal vaccine into the marketplace. We are also subject to patent litigation pursuant to which one or more third parties seeks damages and/or injunctive relief to compensate for alleged infringement of its patents by our commercial or other activities. For example, our Hospira subsidiaries are involved in patent and patent-related disputes over their attempts to bring generic pharmaceutical and biosimilar products to market. If one of our marketed products is found to infringe valid patent rights of a third party, such third party may be awarded significant damages, or we may be prevented from further sales of that product. Such damages may be enhanced as much as three-fold in the event that we or one of our subsidiaries, like Hospira, is found to have willfully infringed valid patent rights of a third party. Actions In Which We Are The Plaintiff Bosulif (bosutinib) In December 2016, Wyeth LLC, Wyeth Pharmaceuticals Inc., and PF Prism C.V. (collectively, Wyeth) brought a patent-infringement action against Alembic Pharmaceuticals, Ltd, Alembic Pharmaceuticals, Inc. (collectively, Alembic), Sun Pharmaceutical Industries, Inc., and Sun Pharmaceutical Industries Limited (collectively, Sun), in the U.S. District Court for the District of Delaware in connection with abbreviated new drug applications respectively filed with the FDA by Alembic and Sun, each seeking approval to market generic versions of bosutinib. Alembic is challenging patents, which expire in 2026, covering polymorphic forms of bosutinib and methods of treating chronic myelogenous leukemia. Sun is challenging the patent covering polymorphic forms of bosutinib that expires in 2026. In March 2017, Wyeth brought a patent-infringement action against MSN Laboratories Private Limited and MSN Pharmaceuticals, Inc. (collectively, MSN), in the U.S. District Court for the District of Delaware in connection with an abbreviated new drug application filed with the FDA by MSN, seeking approval to market a generic version of bosutinib, and challenging a patent expiring in 2026 covering polymorphic forms of bosutinib. In September 2017, the case against MSN was dismissed. Also, in September 2017, Wyeth brought an additional patent-infringement action against Sun in the U.S. District Court for the District of Delaware asserting the infringement and validity of two other patents challenged by Sun, which expire in 2025 and 2026 respectively, covering compositions of bosutinib and methods of treating chronic myelogenous leukemia. EpiPen In July 2010, King, which we acquired in 2011 and is a wholly-owned subsidiary, brought a patent-infringement action against Sandoz in the U.S. District Court for the District of New Jersey in connection with Sandoz’s abbreviated new drug application filed with the FDA seeking approval to market an epinephrine injectable product. Sandoz is challenging patents, which expire in 2025, covering the next-generation autoinjector for use with epinephrine that is sold under the EpiPen brand name. Precedex Premix In June 2014, Ben Venue Laboratories, Inc. (Ben Venue) notified our subsidiary, Hospira, that it had filed an abbreviated new drug application with the FDA seeking approval to market a generic version of Hospira’s premix version of Precedex and containing allegations that a patent relating to the use of Precedex in an intensive care unit setting, which expires in March 2019, was invalid or not infringed. In August 2014, Hospira and Orion Corporation (co-owner of the patent that is the subject of the lawsuit) filed suit against Ben Venue, Hikma Pharmaceuticals PLC (Hikma), and West-Ward Pharmaceutical Corp. in the U.S. District Court for the District of Delaware asserting the validity and infringement of the patent. In October 2014, Eurohealth International Sarl was substituted for Ben Venue and Hikma. In June 2016, this case was settled on terms not material to Pfizer. In June 2015, Amneal Pharmaceuticals LLC (Amneal) notified Hospira that it had filed an abbreviated new drug application with the FDA seeking approval to market a generic version of Hospira’s premix version of Precedex and containing allegations that four patents relating to the Precedex premix formulations and their use, all of which expire in 2032, were invalid or not infringed. In August 2015, Hospira filed suit against Amneal in the U.S. District Court for the District of Delaware asserting the validity and infringement of the patents that are the subject of the lawsuit. In January 2018, the District Court ruled that one of the four patents was valid and infringed, and that the other three patents were invalid. In February and March 2018, respectively, each of Amneal and Hospira appealed the District Court decision to the U.S. Court of Appeals for the Federal Circuit. In December 2015, Fresenius Kabi USA LLC (Fresenius) notified Hospira that it had filed an abbreviated new drug application with the FDA seeking approval to market a generic version of Hospira’s premix version of Precedex and containing allegations that four patents relating to the Precedex premix formulations and their use, all of which expire in 2032, were invalid or not infringed. In January 2016, Hospira filed suit against Fresenius in the U.S. District Court for the Northern District of Illinois asserting the validity and infringement of the patents that are the subject of the lawsuit. In August 2016, Par Sterile Products, LLC (Par) notified Hospira that it had filed an abbreviated new drug application with the FDA seeking approval to market a generic version of Hospira’s premix version of Precedex and containing allegations that four patents relating to the Precedex premix formulations and their use, all of which expire in 2032, were invalid or not infringed. In September 2016, Hospira filed suit against Par in the U.S. District Court for the District of Delaware asserting the validity and infringement of the patents that are the subject of the lawsuit. In December 2016, the case was stayed pending the outcome of Hospira’s suit against Amneal (including all appeals). In December 2017, Gland Pharma Limited (Gland) notified Hospira that it had filed an abbreviated new drug application with the FDA seeking approval to market a generic version of Hospira’s premix version of Precedex and containing allegations that six patents relating to the Precedex premix formulations and their use, all of which expire in 2032, were invalid or not infringed. In February 2018, Hospira filed suit against Gland in the U.S. District Court for the District of Delaware asserting the validity and infringement of four patents that are the subject of the lawsuit. In December 2017, Jiangsu Hengrui Medicine Co., Ltd. (Hengrui) notified Hospira that it had filed an abbreviated new drug application with the FDA seeking approval to market a generic version of Hospira’s premix version of Precedex and containing allegations that six patents relating to the Precedex premix formulations and their use, all of which expire in 2032, were invalid or not infringed. In February 2018, Hospira filed suit against Hengrui in the U.S. District Court for the District of Delaware asserting the validity and infringement of four patents that are the subject of the lawsuit. In February 2018, Baxter Healthcare Corporation (Baxter) filed a declaratory judgment action against Hospira in the U.S. District Court for the District of Delaware seeking a declaration of non-infringement of four patents relating to the Precedex premix formulations and their use. One of the patents included in the action expires in 2019 and the other three patents expire in 2032. In March 2018, Hospira filed a counterclaim for infringement of the patent expiring in 2019. Xeljanz (tofacitinib) In February 2017, we brought a patent-infringement action against MicroLabs USA Inc. and MicroLabs Ltd. (collectively, MicroLabs) in the U.S. District Court for the District of Delaware asserting the infringement and validity of three patents challenged by MicroLabs in its abbreviated new drug application seeking approval to market a generic version of tofacitinib 5 mg tablets. Of the three patents that are the subject of the lawsuit, one covers the active ingredient and expires in December 2025, the second covers an enantiomer of tofacitinib and expires in 2022, and the third covers a polymorphic form of tofacitinib and expires in 2023. Three other patents for Xeljanz expiring in December 2020 have not been challenged by MicroLabs. Separately, also in February 2017, we brought a patent-infringement action against Sun Pharmaceutical Industries Ltd. in the U.S. District Court for the District of Delaware asserting the infringement and validity of our patent covering a polymorphic form of tofacitinib, expiring in 2023, that was challenged by Sun Pharmaceutical Industries Ltd. in its abbreviated new drug application seeking approval to market a generic version of tofacitinib 11 mg extended release tablets. In November 2017, we brought an additional patent-infringement action against Sun Pharmaceuticals Industries Ltd. in the U.S. District Court for the District of Delaware asserting the infringement and validity of another patent challenged by Sun Pharmaceuticals Industries Ltd, which covers the active ingredient and expires in December 2025. In March 2017, we brought a patent-infringement action against Zydus Pharmaceuticals (USA) Inc. and Cadila Healthcare Ltd. (collectively, Zydus) in the U.S. District Court for the District of Delaware asserting the infringement and validity of the same three patents that are the subject of the action against MicroLabs, which Zydus challenged in its abbreviated new drug application seeking approval to market a generic version of tofacitinib 5 mg tablets. Also in March 2017, we brought separate actions in the U.S. District Court for the District of Delaware against Prinston Pharmaceutical Inc., Zhejiang Huahai Pharmaceutical Co., Ltd., Huahai US Inc. and Solco Healthcare US, LLC (collectively, Prinston) and against Breckenridge Pharmaceutical Inc., Pensa Pharma S.A. and Laboratorios Del Dr. Esteve, S.A. (collectively, Breckenridge) on the two patents expiring in 2022 and 2023, respectively, that were challenged by Prinston and Breckenridge in their respective abbreviated new drug applications seeking approval to market generic versions of tofacitinib 5 mg tablets. In October 2017, we brought an additional patent-infringement action against Breckenridge in the U.S. District Court for the District of Delaware asserting the infringement and validity of four additional patents challenged by Breckenridge, three of which expire in December 2020 and one of which expires in December 2025. In March 2018, we brought another patent infringement action against Prinston in the U.S. District Court for the District of Delaware asserting the infringement and validity of an additional patent, which had been subsequently challenged by Prinston and which expires in December 2025. In May 2018, we settled all of our claims against Breckenridge on terms not material to Pfizer. Xtandi (enzalutamide) In December 2016, Medivation and Medivation Prostate Therapeutics, Inc. (collectively, the Medivation Group); Astellas Pharma Inc., Astellas US LLC and Astellas Pharma US, Inc. (collectively, Astellas); and The Regents of the University of California filed patent-infringement suits in the U.S. District Court for the District of Delaware against Actavis Laboratories FL, Inc. and Actavis LLC (collectively, Actavis); Zydus; and Apotex Inc. and Apotex Corp. (collectively, Apotex) in connection with those companies’ respective abbreviated new drug applications filed with the FDA for approval to market generic versions of enzalutamide. The generic manufacturers are challenging patents, which expire as early as 2026, covering enzalutamide and treatments for prostate cancer. In May 2017, the Medivation Group filed a patent-infringement suit against Roxane Laboratories Inc. (Roxane) in the same court in connection with Roxane’s abbreviated new drug application with the FDA for approval to market a generic version of enzalutamide. In June and July 2018, we settled all of our claims against Actavis and Apotex, respectively, on terms not material to Pfizer. Inlyta (axitinib) In April 2018, Apotex Inc. notified us that it had filed an abbreviated new drug application with the FDA seeking approval to market a generic version of Inlyta. Apotex Inc. asserts the invalidity and non-infringement of the crystalline form patent for Inlyta that expires in 2030. In May 2018, we filed suit against Apotex Inc. in the U.S. District Court for the District of Delaware, asserting the validity and infringement of the crystalline form patent for Inlyta. Matters Involving Our Collaboration/Licensing Partners Toviaz (fesoterodine)––Inter-Partes Reviews In January 2016, Mylan Pharmaceuticals and Mylan Laboratories (collectively, Mylan) filed petitions with the U.S. Patent and Trademark Office requesting inter partes reviews of five of the patents covering fesoterodine, the active ingredient in Toviaz: three composition-of-matter patents and a method-of-use patent that expire in 2019 and a patent covering salts of fesoterodine that expires in 2022. The patents are owned by UCB, and we have an exclusive, worldwide license to market Toviaz from UCB. In July 2016, the Patent Trial and Appeal Board agreed to institute inter partes reviews of all five patents. Amerigen Pharmaceuticals Limited (Amerigen), Alembic Pharmaceuticals Limited and Torrent Pharmaceuticals Limited have joined the inter partes reviews. In July 2017, the U.S. Patent and Trademark Office issued decisions upholding all five patents. In September 2017, Mylan and Amerigen appealed the U.S. Patent and Trademark Office decisions to the U.S. Court of Appeals for the Federal Circuit. In January 2018, Mylan withdrew its appeal. Eliquis In February, March, and April 2017, twenty-five generic companies sent BMS Paragraph-IV certification letters informing BMS that they had filed abbreviated new drug applications seeking approval of generic versions of Eliquis, challenging the validity and infringement of one or more of the three patents listed in the Orange Book for Eliquis. The patents currently are set to expire in 2019, 2026, and 2031. Eliquis has been jointly developed and is being commercialized by BMS and Pfizer. In April 2017, BMS and Pfizer filed patent-infringement actions against all generic filers in the U.S. District Court for the District of Delaware and the U.S. District Court for the District of West Virginia, asserting that each of the generic companies’ proposed products would infringe each of the patent(s) that each generic filer challenged. Some generic filers challenged only the 2031 patent, some challenged both the 2031 and 2026 patent, and one generic company challenged all three patents. We and BMS have settled with certain of the generic companies on terms not material to Pfizer, and we and BMS may settle with other generic companies in the future. Actions In Which We Are The Defendant Inflectra (infliximab-dyyb) In March 2015, Janssen and New York University, together, brought a patent-infringement action in the U.S. District Court for the District of Massachusetts against Hospira, Celltrion Healthcare Co. Ltd. and Celltrion Inc. alleging that infliximab-dyyb, to be marketed by Hospira in the U.S. under the brand name Inflectra, would infringe six patents relating to infliximab, its manufacture and use. Claims with respect to four of the patents were dismissed by the plaintiffs, leaving two patents at issue: the infliximab antibody patent and a patent relating to cell culture media. In January 2018, the antibody patent was declared invalid by the Court of Appeals for the Federal Circuit. In July 2018, the U.S. District Court for the District of Massachusetts granted defendants’ motion for summary judgment and ruled that the patent relating to cell culture media was not infringed. Bavencio (avelumab) In July 2017, BMS, E.R. Squibb & Sons LLC, Ono Pharmaceutical Co. Ltd., and Tasuku Honjo brought a patent-infringement action in the U.S. District Court for the District of Delaware against Pfizer, Merck KGaA, and EMD Serono, Inc., alleging that Bavencio (avelumab) infringes one patent relating to methods for treating tumors with anti-PD-L1 antibodies, which expires in 2023. A2. Legal Proceedings––Product Litigation Like other pharmaceutical companies, we are defendants in numerous cases, including but not limited to those discussed below, related to our pharmaceutical and other products. Plaintiffs in these cases seek damages and other relief on various grounds for alleged personal injury and economic loss. Asbestos Between 1967 and 1982, Warner-Lambert owned American Optical Corporation, which manufactured and sold respiratory protective devices and asbestos safety clothing. In connection with the sale of American Optical in 1982, Warner-Lambert agreed to indemnify the purchaser for certain liabilities, including certain asbestos-related and other claims. As of July 1, 2018, approximately 56,760 claims naming American Optical and numerous other defendants were pending in various federal and state courts seeking damages for alleged personal injury from exposure to asbestos and other allegedly hazardous materials. Warner-Lambert was acquired by Pfizer in 2000 and is a wholly-owned subsidiary of Pfizer. Warner-Lambert is actively engaged in the defense of, and will continue to explore various means of resolving, these claims. Numerous lawsuits are pending against Pfizer in various federal and state courts seeking damages for alleged personal injury from exposure to products allegedly containing asbestos and other allegedly hazardous materials sold by Pfizer and certain of its previously owned subsidiaries. There also are a small number of lawsuits pending in various federal and state courts seeking damages for alleged exposure to asbestos in facilities owned or formerly owned by Pfizer or its subsidiaries. Effexor Beginning in May 2011, actions, including purported class actions, were filed in various federal courts against Wyeth and, in certain of the actions, affiliates of Wyeth and certain other defendants relating to Effexor XR, which is the extended-release formulation of Effexor. The plaintiffs in each of the class actions seek to represent a class consisting of all persons in the U.S. and its territories who directly purchased, indirectly purchased or reimbursed patients for the purchase of Effexor XR or generic Effexor XR from any of the defendants from June 14, 2008 until the time the defendants’ allegedly unlawful conduct ceased. The plaintiffs in all of the actions allege delay in the launch of generic Effexor XR in the U.S. and its territories, in violation of federal antitrust laws and, in certain of the actions, the antitrust, consumer protection and various other laws of certain states, as the result of Wyeth fraudulently obtaining and improperly listing certain patents for Effexor XR in the Orange Book, enforcing certain patents for Effexor XR and entering into a litigation settlement agreement with a generic drug manufacturer with respect to Effexor XR. Each of the plaintiffs seeks treble damages (for itself in the individual actions or on behalf of the putative class in the purported class actions) for alleged price overcharges for Effexor XR or generic Effexor XR in the U.S. and its territories since June 14, 2008. All of these actions have been consolidated in the U.S. District Court for the District of New Jersey. In October 2014, the District Court dismissed the direct purchaser plaintiffs’ claims based on the litigation settlement agreement but declined to dismiss the other direct purchaser plaintiff claims. In January 2015, the District Court entered partial final judgments as to all settlement agreement claims, including those asserted by direct purchasers and end-payer plaintiffs, which plaintiffs appealed to the U.S. Court of Appeals for the Third Circuit. In August 2017, the U.S. Court of Appeals for the Third Circuit reversed the District Court’s decisions and remanded the claims to the District Court. Lipitor
Beginning in November 2011, purported class actions relating to Lipitor were filed in various federal courts against, among others, Pfizer, certain affiliates of Pfizer, and, in most of the actions, Ranbaxy, Inc. (Ranbaxy) and certain affiliates of Ranbaxy. The plaintiffs in these various actions seek to represent nationwide, multi-state or statewide classes consisting of persons or entities who directly purchased, indirectly purchased or reimbursed patients for the purchase of Lipitor (or, in certain of the actions, generic Lipitor) from any of the defendants from March 2010 until the cessation of the defendants’ allegedly unlawful conduct (the Class Period). The plaintiffs allege delay in the launch of generic Lipitor, in violation of federal antitrust laws and/or state antitrust, consumer protection and various other laws, resulting from (i) the 2008 agreement pursuant to which Pfizer and Ranbaxy settled certain patent litigation involving Lipitor, and Pfizer granted Ranbaxy a license to sell a generic version of Lipitor in various markets beginning on varying dates, and (ii) in certain of the actions, the procurement and/or enforcement of certain patents for Lipitor. Each of the actions seeks, among other things, treble damages on behalf of the putative class for alleged price overcharges for Lipitor (or, in certain of the actions, generic Lipitor) during the Class Period. In addition, individual actions have been filed against Pfizer, Ranbaxy and certain of their affiliates, among others, that assert claims and seek relief for the plaintiffs that are substantially similar to the claims asserted and the relief sought in the purported class actions described above. These various actions have been consolidated for pre-trial proceedings in a Multi-District Litigation (In re Lipitor Antitrust Litigation MDL-2332) in the U.S. District Court for the District of New Jersey. In September 2013 and 2014, the District Court dismissed with prejudice the claims by direct purchasers. In October and November 2014, the District Court dismissed with prejudice the claims of all other Multi-District Litigation plaintiffs. All plaintiffs have appealed the District Court’s orders dismissing their claims with prejudice to the U.S. Court of Appeals for the Third Circuit. In addition, the direct purchaser class plaintiffs appealed the order denying their motion to amend the judgment and for leave to amend their complaint to the U.S. Court of Appeals for the Third Circuit. In August 2017, the U.S. Court of Appeals for the Third Circuit reversed the District Court’s decisions and remanded the claims to the District Court. Also, in January 2013, the State of West Virginia filed an action in West Virginia state court against Pfizer and Ranbaxy, among others, that asserts claims and seeks relief on behalf of the State of West Virginia and residents of that state that are substantially similar to the claims asserted and the relief sought in the purported class actions described above.
A number of individual and multi-plaintiff lawsuits have been filed against us in various federal and state courts alleging that the plaintiffs developed type 2 diabetes purportedly as a result of the ingestion of Lipitor. Plaintiffs seek compensatory and punitive damages. In February 2014, the federal actions were transferred for consolidated pre-trial proceedings to a Multi-District Litigation (In re Lipitor (Atorvastatin Calcium) Marketing, Sales Practices and Products Liability Litigation (No. II) MDL-2502) in the U.S. District Court for the District of South Carolina. Since 2016, certain cases in the Multi-District Litigation were remanded to certain state courts. In January 2017, the District Court granted our motion for summary judgment, dismissing substantially all of the remaining cases pending in the Multi-District Litigation. In January 2017, the plaintiffs appealed the District Court’s decision to the U.S. Court of Appeals for the Fourth Circuit. In June 2018, the U.S. Court of Appeals for the Fourth Circuit affirmed the District Court’s decision. Viagra A number of individual and multi-plaintiff lawsuits have been filed against us in various federal and state courts alleging that the plaintiffs developed melanoma and/or the exacerbation of melanoma purportedly as a result of the ingestion of Viagra. Plaintiffs seek compensatory and punitive damages. In April 2016, the federal actions were transferred for coordinated pre-trial proceedings to a Multi-District Litigation (In Re: Viagra (Sildenafil Citrate) Products Liability Litigation, MDL-2691) in the U.S. District Court for the Northern District of California. In December 2016, federal actions filed against Lilly and filed against both us and Lilly, were transferred for coordinated pre-trial proceedings to the Multi-District Litigation (In re: Viagra (Sildenafil Citrate) and Cialis (Tadalafil) Products Liability Litigation, MDL-2691). Intravenous Solutions Beginning in November 2016, purported class actions were filed in the U.S. District Court for the Northern District of Illinois against Hospira, Hospira Worldwide, Inc. and certain other defendants relating to intravenous saline solution. Plaintiffs seek to represent a class consisting of all persons and entities in the U.S. who directly purchased intravenous saline solution sold by any of the defendants from January 1, 2013 until the time the defendants’ allegedly unlawful conduct ceases. Plaintiffs allege that the defendants’ conduct restricts output and artificially fixes, raises, maintains and/or stabilizes the prices of intravenous saline solution sold throughout the U.S. in violation of federal antitrust laws. Plaintiffs seek treble damages (for themselves and on behalf of the putative classes) and an injunction against defendants for alleged price overcharges for intravenous saline solution in the U.S. since January 1, 2013. All of these actions have been consolidated in the U.S. District Court for the Northern District of Illinois. In July 2018, the District Court granted defendants’ motions to dismiss the consolidated amended complaint without prejudice. On February 3, 2017, we completed the sale of our global infusion systems net assets, HIS, which includes intravenous saline solution, to ICU Medical. The litigation is the subject of cross-claims for indemnification by both Pfizer and ICU Medical under the purchase agreement. Separately, in April 2017, Pfizer, Hospira and two employees of Pfizer received grand jury subpoenas issued by the United States District Court for the Eastern District of Pennsylvania, in connection with an investigation by the U.S. Department of Justice, Antitrust Division. The subpoenas seek documents related to the sale, manufacture, pricing and shortages of intravenous solutions, including saline, as well as communications among industry participants regarding these issues. The Department of Justice investigation is also the subject of cross-claims for indemnification by both Pfizer and ICU Medical under the purchase agreement. In addition, in August 2015, the New York Attorney General issued a subpoena to Hospira for similar information. Hospira has produced records to the New York Attorney General and coordinated with ICU Medical to produce records to the U.S. Department of Justice. Hormone Therapy Consumer Class Action A certified consumer class action is pending against Wyeth in the U.S. District Court for the Southern District of California based on the alleged off-label marketing of its hormone therapy products. The case was originally filed in December 2003. The class consists of California consumers who purchased Wyeth’s hormone-replacement products between January 1995 and January 2003 and who do not seek personal injury damages therefrom. The class seeks compensatory and punitive damages, including a full refund of the purchase price. Eliquis A number of individual and multi-plaintiff lawsuits have been filed against us and BMS in various federal and state courts pursuant to which plaintiffs seek to recover for personal injuries, including wrongful death, due to bleeding allegedly as a result of the ingestion of Eliquis. Plaintiffs seek compensatory and punitive damages. In February 2017, the federal actions were transferred for coordinated pre-trial proceedings to a Multi-District Litigation (In Re: Eliquis (Apixaban) Products Liability Litigation MDL-2754) in the U.S. District Court for the Southern District of New York. In July 2017, the District Court dismissed substantially all of the actions that were pending in the Multi-District Litigation. In August 2017, certain plaintiffs appealed the District Court’s dismissal to the U.S. Court of Appeals for the Second Circuit. Additional cases continue to be transferred to the Multi-District Litigation. EpiPen Beginning in February 2017, purported class actions were filed in various federal courts by indirect purchasers of EpiPen against Pfizer, and/or its affiliates King and Meridian, and/or various entities affiliated with Mylan N.V., and Mylan N.V. Chief Executive Officer, Heather Bresch. The plaintiffs in these actions seek to represent U.S. nationwide classes comprising persons or entities who paid for any portion of the end-user purchase price of an EpiPen between 2009 until the cessation of the defendants’ allegedly unlawful conduct. In August 2017, a similar lawsuit brought in the U.S. District Court for the District of New Jersey on behalf of a purported class of direct purchaser plaintiffs against Pfizer, King, Meridian and Mylan was voluntarily dismissed without prejudice. Against Pfizer and/or its affiliates, plaintiffs generally allege that Pfizer’s and/or its affiliates’ settlement of patent litigation regarding EpiPen delayed market entry of generic EpiPen in violation of federal antitrust laws and various state antitrust or consumer protection laws. At least one lawsuit also alleges that Pfizer and/or Mylan N.V. violated the federal Racketeer Influenced and Corrupt Organizations Act. Plaintiffs also filed various consumer protection and unjust enrichment claims against, and relating to conduct attributable solely to, Mylan Pharmaceuticals regarding EpiPen. Plaintiffs seek treble damages for alleged overcharges for EpiPen since 2009. In August 2017, the actions were consolidated for coordinated pre-trial proceedings in a Multi-District Litigation (In re: EpiPen (Epinephrine Injection, USP) Marketing, Sales Practices and Antitrust Litigation, MDL-2785) in the U.S. District Court for the District of Kansas with other EpiPen-related actions against Mylan N.V. and/or its affiliates to which Pfizer, King and Meridian are not parties. Nexium 24HR and Protonix A number of individual and multi-plaintiff lawsuits have been filed against Pfizer, certain of its subsidiaries and/or other pharmaceutical manufacturers in various federal and state courts alleging that the plaintiffs developed kidney-related injuries purportedly as a result of the ingestion of certain proton pump inhibitors. The cases against us involve Nexium 24HR and/or Protonix and seek compensatory and punitive damages and, in some cases, treble damages, restitution or disgorgement. In August 2017, the federal actions were ordered transferred for coordinated pre-trial proceedings to a Multi-District Litigation (In re: Proton-Pump Inhibitor Products Liability Litigation (No. II)) in the U.S. District Court for the District of New Jersey. Docetaxel A number of lawsuits have been filed against Hospira and Pfizer in various federal and state courts alleging that plaintiffs who were treated with Docetaxel developed permanent hair loss. The significant majority of the cases also name other defendants, including the manufacturer of the branded product, Taxotere. Plaintiffs seek compensatory and punitive damages. In October 2016, the federal cases were transferred for coordinated pre-trial proceedings to a Multi-District Litigation (In re Taxotere (Docetaxel) Products Liability Litigation, MDL-2740) in the U.S. District Court for the Eastern District of Louisiana. A3. Legal Proceedings––Commercial and Other Matters Average Wholesale Price Litigation Pfizer, certain of its subsidiaries and other pharmaceutical manufacturers were sued in various state courts by a number of states alleging that the defendants provided average wholesale price (AWP) information for certain of their products that was higher than the actual average prices at which those products were sold. The AWP is used to determine reimbursement levels under Medicare Part B and Medicaid and in many private-sector insurance policies and medical plans. All but one of those actions have been resolved through settlement, dismissal or final judgment. The plaintiff state, Illinois, in the one remaining action claims that the alleged spread between the AWPs at which purchasers were reimbursed and the actual sale prices was promoted by the defendants as an incentive to purchase certain of their products. The action alleges, among other things, fraud and violation of the state’s unfair trade practices and consumer protection statutes and seeks monetary and other relief, including civil penalties and treble damages. Monsanto-Related Matters In 1997, Monsanto Company (Former Monsanto) contributed certain chemical manufacturing operations and facilities to a newly formed corporation, Solutia Inc. (Solutia), and spun off the shares of Solutia. In 2000, Former Monsanto merged with Pharmacia & Upjohn Company to form Pharmacia. Pharmacia then transferred its agricultural operations to a newly created subsidiary, named Monsanto Company (New Monsanto), which it spun off in a two-stage process that was completed in 2002. Pharmacia was acquired by Pfizer in 2003 and is a wholly-owned subsidiary of Pfizer. In connection with its spin-off that was completed in 2002, New Monsanto assumed, and agreed to indemnify Pharmacia for, any liabilities related to Pharmacia’s former agricultural business. New Monsanto has defended and/or is defending Pharmacia in connection with various claims and litigation arising out of, or related to, the agricultural business, and has been indemnifying Pharmacia when liability has been imposed or settlement has been reached regarding such claims and litigation. In connection with its spin-off in 1997, Solutia assumed, and agreed to indemnify Pharmacia for, liabilities related to Former Monsanto’s chemical businesses. As the result of its reorganization under Chapter 11 of the U.S. Bankruptcy Code, Solutia’s indemnification obligations relating to Former Monsanto’s chemical businesses are primarily limited to sites that Solutia has owned or operated. In addition, in connection with its spinoff that was completed in 2002, New Monsanto assumed, and agreed to indemnify Pharmacia for, any liabilities primarily related to Former Monsanto’s chemical businesses, including, but not limited to, any such liabilities that Solutia assumed. Solutia’s and New Monsanto’s assumption of, and agreement to indemnify Pharmacia for, these liabilities apply to pending actions and any future actions related to Former Monsanto’s chemical businesses in which Pharmacia is named as a defendant, including, without limitation, actions asserting environmental claims, including alleged exposure to polychlorinated biphenyls. Solutia and/or New Monsanto are defending Pharmacia in connection with various claims and litigation arising out of, or related to, Former Monsanto’s chemical businesses, and have been indemnifying Pharmacia when liability has been imposed or settlement has been reached regarding such claims and litigation. Environmental Matters In 2009, we submitted to the U.S. Environmental Protection Agency (EPA) a corrective measures study report with regard to Pharmacia’s discontinued industrial chemical facility in North Haven, Connecticut and a revised site-wide feasibility study with regard to Wyeth Holdings Corporation’s discontinued industrial chemical facility in Bound Brook, New Jersey. In September 2010, our corrective measures study report with regard to the North Haven facility was approved by the EPA, and we commenced construction of the site remedy in late 2011 under an Updated Administrative Order on Consent with the EPA. In July 2011, Wyeth Holdings Corporation finalized an Administrative Settlement Agreement and Order on Consent for Removal Action (the 2011 Administrative Settlement Agreement) with the EPA with regard to the Bound Brook facility. In May 2012, we completed construction of an interim remedy to address the discharge of impacted groundwater from that facility to the Raritan River. In September 2012, the EPA issued a final remediation plan for the Bound Brook facility’s main plant area, which is generally in accordance with one of the remedies evaluated in our revised site-wide feasibility study. In March 2013, Wyeth Holdings Corporation (now Wyeth Holdings LLC) entered into an Administrative Settlement Agreement and Order on Consent with the EPA to allow us to undertake detailed engineering design of the remedy for the main plant area and to perform a focused feasibility study for two adjacent lagoons. In September 2015, the U.S., on behalf of the EPA, filed a complaint and consent decree with the federal District Court for the District of New Jersey that allows Wyeth Holdings LLC to complete the design and to implement the remedy for the main plant area. In December 2015, the consent decree (which supersedes the 2011 Administrative Settlement Agreement) was entered by the District Court. We have accrued for the estimated costs of the site remedies for the North Haven and Bound Brook facilities. We are a party to a number of other proceedings brought under the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended, and other state, local or foreign laws in which the primary relief sought is the cost of past and/or future remediation. Contracts with Iraqi Ministry of Health In October 2017, a number of United States service members, civilians, and their families brought a complaint in the Federal District Court for the District of Columbia against a number of pharmaceutical and medical devices companies, including Pfizer and certain of its subsidiaries, alleging that the defendants violated the United States Anti-Terrorism Act. The complaint alleges that the defendants provided funding for terrorist organizations through their sales practices pursuant to pharmaceutical and medical device contracts with the Iraqi Ministry of Health, and seeks monetary relief. In July 2018, the U.S. Department of Justice requested documents related to this matter, which we will be providing. Allergan Complaint for Indemnity In August 2018, Pfizer was named as a defendant in a third-party complaint for indemnity, along with King Pharmaceuticals LLC, a Pfizer subsidiary (King), filed by Allergan Finance LLC (Allergan) in a Multi-District Litigation (In re National Prescription Opiate Litigation MDL 2804) in the U.S. District Court for the Northern District of Ohio. The lawsuit asserts claims for indemnity related to Kadian, which was owned for a short period by King in 2008, prior to Pfizer's acquisition of King in 2010. A4. Legal Proceedings––Government Investigations Like other pharmaceutical companies, we are subject to investigations and extensive regulation by government agencies in the U.S., other developed markets and multiple emerging markets in which we operate. As a result, we have interactions with government agencies on an ongoing basis. Criminal charges, and substantial fines and/or civil penalties, as well as limitations on our ability to conduct business in applicable jurisdictions, could result from government investigations. In addition, in a qui tam lawsuit in which the government declines to intervene, the relator may still pursue a suit for the recovery of civil damages and penalties on behalf of the government. Among the investigations by government agencies are the matters discussed below. Phenytoin Sodium Capsules In 2012, Pfizer sold the U.K. Marketing Authorisation for phenytoin sodium capsules to a third party, but retained the right to supply the finished product to that third party. In May 2013, the U.K. Competition & Markets Authority (CMA) informed us that it had launched an investigation into the supply of phenytoin sodium capsules in the U.K. market. In August 2015, the CMA issued a Statement of Objections alleging that Pfizer and Pfizer Limited, a U.K. subsidiary, engaged in conduct that violates U.K. and EU antitrust laws. In December 2016, the CMA imposed a £84.2 million fine on Pfizer and Pfizer Limited. Pfizer appealed the CMA decision to The Competition Appeal Tribunal in February 2017. On June 7, 2018, the Competition Appeal Tribunal overturned the CMA decision as well as the associated fine. On June 28, 2018, the CMA sought permission to appeal the Competition Appeal Tribunal’s judgment. Greenstone Investigations As of July 2017, the U.S. Department of Justice’s Antitrust Division is investigating our Greenstone generics business. We believe this is related to an ongoing antitrust investigation of the generic pharmaceutical industry. The government has been obtaining information from Greenstone. In April 2018, Greenstone received requests for information from the Antitrust Department of the Connecticut Office of the Attorney General. We have been providing information pursuant to these requests. Intravenous Solutions See Note 12A2. Legal Proceedings––Product Litigation––Intravenous Solutions above for information regarding government investigations related to sales of intravenous solution products. Contracts with Iraqi Ministry of Health See Note 12A3. Legal Proceedings––Commercial and Other Matters––Contracts with Iraqi Ministry of Health above for information regarding government investigations related to contracts with the Iraqi Ministry of Health. A5. Legal Proceedings--Matters Resolved During the First Six Months of 2018 During 2018, certain matters, including the matters discussed below, were resolved or were the subject of definitive settlement agreements or settlement agreements-in-principle. Celebrex Beginning in July 2014, purported class actions were filed in the U.S. District Court for the Eastern District of Virginia against Pfizer and certain subsidiaries of Pfizer relating to Celebrex. The plaintiffs sought to represent U.S. nationwide or multi-state classes consisting of persons or entities who directly purchased from the defendants, or indirectly purchased or reimbursed patients for some or all of the purchase price of, Celebrex or generic Celebrex from May 31, 2014 until the cessation of the defendants’ allegedly unlawful conduct. The plaintiffs alleged delay in the launch of generic Celebrex in violation of federal antitrust laws or certain state antitrust, consumer protection and various other laws as a result of Pfizer fraudulently obtaining and improperly listing a patent on Celebrex, engaging in sham litigation and prolonging the impact of sham litigation through settlement activity that further delayed generic entry. Each of the actions sought treble damages on behalf of the putative class for alleged price overcharges for Celebrex since May 31, 2014. In December 2014, the District Court granted the parties’ joint motions to consolidate the direct purchaser and end-payer cases, and all such cases were consolidated as of March 2015. In October 2014 and March 2015, we filed motions to dismiss the direct purchasers’ and end-payers’ amended complaints, respectively. In November 2015, the District Court denied in part and granted in part our motion to dismiss the direct purchasers’ amended complaint. In February 2016, the District Court denied in part and granted in part our motion to dismiss the end-payers’ amended complaint, and in August 2016, the District Court dismissed substantially all of the end-payers’ remaining claims. In February 2017, the District Court dismissed with prejudice all of the end-payers’ claims. In March 2017, the end-payers appealed the District Court’s order dismissing their claims with prejudice to the U.S. Court of Appeals for the Fourth Circuit. In August 2017, the District Court granted the direct purchasers’ motion for class certification. In November 2017, Pfizer and the direct purchasers entered into an agreement to resolve the direct purchasers’ class action for $94 million. In April 2018, the court approved the agreement. In November 2017, Pfizer and the end-payers entered into an agreement to resolve the claims of the end-payer plaintiffs on terms not material to Pfizer. Subpoenas relating to Copayment Assistance Organizations In December 2015 and July 2016, Pfizer received subpoenas from the U.S. Attorney’s Office for the District of Massachusetts requesting documents related to the Patient Access Network Foundation and other 501(c)(3) organizations that provide financial assistance to Medicare patients. In May 2018, Pfizer entered into a civil settlement to resolve the matter. Pfizer paid $23.85 million to the United States, and entered into a five-year Corporate Integrity Agreement with the Office of the Inspector General of the Department of Health and Human Services. Civil Investigative Demand relating to Pharmacy Benefit Managers In March 2016, Pfizer received a Civil Investigative Demand from the U.S. Attorney’s Office for the Southern District of New York (SDNY) related to Pfizer’s contractual relationships with pharmacy benefit managers with respect to certain pharmaceutical products over the period from January 1, 2006 to the present. We have provided information to the government in response to this Civil Investigative Demand. In July 2018, Pfizer was served with a qui tam complaint that appears to be related to the SDNY investigation. The complaint was unsealed following the government’s decision not to intervene in the case. B. Guarantees and Indemnifications In the ordinary course of business and in connection with the sale of assets and businesses and other transactions, we often indemnify our counterparties against certain liabilities that may arise in connection with the transaction or that are related to events and activities prior to or following a transaction. If the indemnified party were to make a successful claim pursuant to the terms of the indemnification, we may be required to reimburse the loss. These indemnifications are generally subject to various restrictions and limitations. Historically, we have not paid significant amounts under these provisions and, as of July 1, 2018 the estimated fair value of these indemnification obligations was not significant. Pfizer Inc. has also guaranteed the long-term debt of certain companies that it acquired and that now are subsidiaries of Pfizer. C. Certain Commitments
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Segment, Geographic and Other Revenue Information |
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Segment, Geographic and Other Revenue Information | Segment, Geographic and Other Revenue Information A. Segment Information We manage our commercial operations through two distinct business segments: Pfizer Innovative Health (IH) and Pfizer Essential Health (EH). The IH and EH segments are each led by a single manager. Each operating segment has responsibility for its commercial activities and for certain IPR&D projects for new investigational products and additional indications for in-line products that generally have achieved proof-of-concept. Each business has a geographic footprint across developed and emerging markets. Our chief operating decision maker uses the revenues and earnings of the two operating segments, among other factors, for performance evaluation and resource allocation. We regularly review our segments and the approach used by management for performance evaluation and resource allocation. As described in Note 1A, the February 3, 2017 sale of HIS impacted our results of operations in 2017. Operating Segments
The following organizational change impacted our operating segments in 2018:
Other Costs and Business Activities Certain pre-tax costs are not allocated to our operating segment results, such as costs associated with the following:
Segment Assets We manage our assets on a total company basis, not by operating segment, as many of our operating assets are shared (such as our plant network assets) or commingled (such as accounts receivable, as many of our customers are served by both operating segments). Therefore, our chief operating decision maker does not regularly review any asset information by operating segment and, accordingly, we do not report asset information by operating segment. Total assets were approximately $165 billion as of July 1, 2018 and $172 billion as of December 31, 2017. Selected Income Statement Information
For Earnings in the second quarter of 2018, certain significant items includes: (i) restructuring credits and implementation costs associated with our cost-reduction initiatives that are not associated with an acquisition of $42 million, (ii) a net credit for certain legal matters of $88 million, (iii) adjustments of $2 million income to amounts previously recorded to write down the HIS net assets to fair value less costs to sell, (iv) certain asset impairments of $31 million, (v) charges for business and legal entity alignment of $1 million and (vi) other charges of $37 million. For additional information, see Note 2B, Note 3 and Note 4. For Earnings in the second quarter of 2017, certain significant items includes: (i) restructuring credits and implementation costs associated with our cost-reduction initiatives that are not associated with an acquisition of $49 million, (ii) an incremental charge to amounts previously recorded to write down the HIS net assets to fair value less costs to sell of $28 million, (iii) charges for business and legal entity alignment of $17 million and (iv) other charges of $97 million. For additional information, see Note 2B, Note 3 and Note 4. For Earnings in the first six months of 2018, certain significant items includes: (i) restructuring credits and implementation costs associated with our cost-reduction initiatives that are not associated with an acquisition of $93 million, (ii) net credits for certain legal matters of $107 million, (iii) adjustments to amounts previously recorded to write down the HIS net assets to fair value less costs to sell of $1 million, (iv) certain asset impairments of $31 million, (v) charges for business and legal entity alignment of $4 million and (vi) other charges of $199 million, which primarily includes $119 million, in the aggregate, for a special one-time bonus paid to virtually all Pfizer colleagues, excluding executives, which was one of several actions taken by us after evaluating the expected positive net impact of the December 2017 enactment of the TCJA on us. For additional information, see Note 2B, Note 3 and Note 4. For Earnings in the first six months of 2017, certain significant items includes: (i) restructuring credits and implementation costs associated with our cost-reduction initiatives that are not associated with an acquisition of $79 million, (ii) charges for certain legal matters of $8 million, (iii) adjustments to amounts previously recorded to the write-down the HIS net assets to fair value less costs to sell of $64 million, (iv) charges for business and legal entity alignment of $38 million and (v) other charges of $158 million. For additional information, see Note 2B, Note 3 and Note 4. Equity in the net income of investees accounted for by the equity method is not significant for any of our operating segments. The operating segment information does not purport to represent the revenues, costs and income from continuing operations before provision for taxes on income that each of our operating segments would have recorded had each segment operated as a standalone company during the periods presented. B. Geographic Information As described in Note 1A, the February 3, 2017 sale of HIS impacted our results of operations in 2017.
C. Other Revenue Information Significant Product Revenues As described in Note 1A, the February 3, 2017 sale of HIS impacted our results of operations in 2017.
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Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Basis of Presentation | Basis of Presentation See the Glossary of Defined Terms at the beginning of this Quarterly Report on Form 10-Q for terms used throughout the condensed consolidated financial statements and related notes of this Quarterly Report on Form 10-Q. We prepared the condensed consolidated financial statements following the requirements of the SEC for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by U.S. GAAP can be condensed or omitted. The financial information included in our condensed consolidated financial statements for subsidiaries operating outside the U.S. is as of and for the three and six months ended May 27, 2018 and May 28, 2017. The financial information included in our condensed consolidated financial statements for U.S. subsidiaries is as of and for the three and six months ended July 1, 2018 and July 2, 2017. Revenues, expenses, assets and liabilities can vary during each quarter of the year. Therefore, the results and trends in these interim financial statements may not be representative of those for the full year. We are responsible for the unaudited financial statements included in this Quarterly Report on Form 10-Q. The interim financial statements include all normal and recurring adjustments that are considered necessary for the fair statement of our condensed consolidated balance sheets and condensed consolidated statements of income. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the consolidated financial statements and accompanying notes included in our 2017 Form 10-K. |
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Adoption of New Accounting Standards | Adoption of New Accounting Standards On January 1, 2018, we adopted eleven new accounting standards. The quantitative impacts on our prior period condensed consolidated financial statements of adopting the following new standards are summarized in the tables within the section titled Impacts to our Condensed Consolidated Financial Statements, further below. Revenues––We adopted a new accounting standard for revenue recognition and changed our revenue recognition policies accordingly. Generally, the previous revenue recognition standards permitted recognition when persuasive evidence of a contract existed, delivery had occurred, and the seller's price to the buyer was fixed or determinable. Under the new standard, revenue is recognized upon transfer of control of the product to our customer in an amount that reflects the consideration we expect to receive in exchange. We adopted the new accounting standard utilizing the modified retrospective method, and, therefore, no adjustments were made to amounts in our prior period financial statements. We recorded the cumulative effect of adopting the standard as an adjustment to increase the opening balance of Retained earnings by $584 million on a pre-tax basis ($450 million after-tax). This amount includes $500 million (pre-tax) related to the timing of recognizing Other (income)/deductions––net primarily for upfront and milestone payments on our collaboration arrangements ($394 million, pre-tax) and, to a lesser extent, product rights and out-licensing arrangements, and $84 million (pre-tax) related to the timing of recognizing Revenues and Cost of sales on certain product shipments. The impact of adoption did not have a material impact to our condensed consolidated statements of income for the three and six months ended July 1, 2018 or our condensed consolidated balance sheet as of July 1, 2018. For additional information, see Note 1C. Financial Assets and Liabilities––The new accounting standard related to the recognition and measurement of financial assets and liabilities makes the following changes to prior guidance and requires:
We adopted the new accounting standard utilizing the modified retrospective method, and, therefore, no adjustments were made to amounts in our prior period financial statements. We recorded the cumulative effect of adopting the standard as an adjustment to increase the opening balance of Retained earnings by $462 million on a pre-tax basis ($419 million after-tax) related to the net impact of unrealized gains and losses primarily on available-for-sale equity securities, restricted stock and private equity securities. In the second quarter and first six months of 2018, we recorded net unrealized gains on equity securities of $226 million and $337 million, respectively, in Other (income)/deductions––net. For additional information, see Note 4 and Note 7. Presentation of Net Periodic Pension and Postretirement Benefit Cost––We adopted a new accounting standard that requires the net periodic pension and postretirement benefit costs other than the service costs be presented in Other (income)/deductions––net, and that the presentation be applied retrospectively. We adopted the presentation of the net periodic benefit costs other than service costs by reclassifying these costs from Cost of sales, Selling, informational and administrative expenses, Research and development expenses and Restructuring charges and certain acquisition-related costs to Other (income)/deductions––net. We elected to apply the practical expedient as it is impracticable to determine the disaggregation of the cost components for amounts capitalized within Inventories and property, plant and equipment and amortized in each of those periods. We have therefore reclassified the prior period net periodic benefit costs/(credits) disclosed in Note 10 to apply the retrospective presentation for comparative periods. As of January 1, 2018, only service costs will be included in amounts capitalized in Inventories or property, plant and equipment, while the other components of net periodic benefit costs will be included in Other (income)/deductions––net. For additional information, see Note 4 and Note 10. Income Tax Accounting––The new guidance removes the prohibition against recognizing current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to a third party, unless the asset transferred is inventory. We adopted the standard utilizing the modified retrospective method, and, therefore, no adjustments were made to amounts in our prior period financial statements. We recorded the cumulative effect of adopting the standard as an adjustment to decrease the opening balance of Retained earnings by $189 million. Accounting for Hedging Activities––The standard makes the following changes:
We early adopted the new accounting standard on January 1, 2018 on a prospective basis. In the second quarter and first six months of 2018, we recorded income of $16 million and $45 million, respectively, in Other (income)/deductions––net, whereas this item would have been classified in interest income in prior periods. For additional information, see Note 7F. Reclassification of Certain Tax Effects from AOCI––We early adopted a new accounting standard that provides guidance on the reclassification of certain tax effects from AOCI. Under the new guidance, we elected to reclassify the stranded tax amounts related to the TCJA from AOCI to Retained earnings. We adopted the new accounting standard utilizing the modified retrospective method, and recorded the cumulative effect of adopting the standard as an adjustment to increase the opening balance of Retained earnings by $495 million, primarily due to the effect of the change in the U.S. Federal corporate tax rate. The impact on other stranded tax amounts related to the application of the TCJA was not material to our condensed consolidated financial statements. Classification of Certain Transactions in the Statement of Cash Flows––We retrospectively adopted an accounting standard that changed the presentation of certain information in the condensed consolidated statements of cash flows, including the classification of:
The new standard also establishes guidance on the classification of certain cash flows related to contingent consideration in a business acquisition. Cash payments made soon after a business acquisition date will be classified as Investing activities, while payments made thereafter will be classified as Financing activities. Payments made in excess of the amount of the original contingent consideration liability will be classified as Operating activities. The adoption of this guidance did not have a material impact to our condensed consolidated financial statements. Presentation of Restricted Cash in the Statement of Cash Flows––We adopted, on a retrospective basis, the new accounting standard, which requires that restricted cash and restricted cash equivalents be included with Cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown in the condensed consolidated statements of cash flows. As a result, for the six months ended July 1, 2018, $19 million is presented as an increase in Cash, cash equivalents, restricted cash and restricted cash equivalents. Definition of a Business––We prospectively adopted the standard for determining whether business development transactions should be accounted for as acquisitions (or disposals) of assets or businesses. If substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset, the transaction will not qualify for treatment as a business. To be considered a business, a set of integrated activities and assets must include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create outputs, without regard as to whether a purchaser could replace missing elements. In addition, the definition of the term “output” has been narrowed to make it consistent with the updated revenue recognition guidance. In the second quarter and first six months of 2018, there was no impact to our condensed consolidated financial statements from the adoption of this new standard. Derecognition of Nonfinancial Assets––We prospectively adopted the standard, which applies to the full or partial sale or transfer of nonfinancial assets, including intangible assets, real estate and inventory. The standard provides that the gain or loss is determined by the difference between the consideration received and the carrying value of the asset. In the second quarter and first six months of 2018, there was no impact to our condensed consolidated financial statements from the adoption of this new standard. Accounting for Modifications of Share-Based Payment Awards––We prospectively adopted the standard, which clarifies that certain changes in the terms or conditions of a share-based payment award be accounted for as a modification. There was no impact to our condensed consolidated financial statements from the adoption of this new standard. Impacts to our Condensed Consolidated Financial Statements––The impacts on our prior period condensed consolidated financial statements of adopting the new standards described above are summarized in the following tables:
Amounts included in restricted cash represent those required to be set aside by a contractual agreement in connection with ongoing litigation or to secure delivery of Pfizer medicines at the agreed upon terms. The restriction will lapse upon the resolution of the litigation or the proper delivery of the medicines. C. Revenues On January 1, 2018, we adopted a new accounting standard for revenue recognition. For further information, see Note 1B. We recorded direct product and/or alliance revenues of more than $1 billion for each of nine products in 2017. These direct products sales and/or alliance product revenues represented 46% of our revenues in 2017. The loss or expiration of intellectual property rights can have a significant adverse effect on our revenues as our contracts with customers will generally be at lower selling prices due to added competition and we generally provide for higher sales returns during the period in which individual markets begin to near the loss or expiration of intellectual property rights. Our Consumer Healthcare business includes OTC brands with a focus on dietary supplements, pain management, gastrointestinal and respiratory and personal care. According to Euromonitor International’s retail sales data, in 2017, our Consumer Healthcare business was the fifth-largest branded multi-national, OTC consumer healthcare business in the world and produced two of the ten largest selling consumer healthcare brands (Centrum and Advil) in the world. We sell biopharmaceutical products after patent expiration, and under patent, and, to a much lesser extent, consumer healthcare products worldwide to developed and emerging market countries. Revenue Recognition––We record revenues from product sales when there is a transfer of control of the product from us to the customer. We determine transfer of control based on when the product is shipped or delivered and title passes to the customer.
Biopharmaceutical products that ultimately are used by patients are generally covered under governmental programs, managed care programs and insurance programs, including those managed through pharmacy benefit managers, and are subject to sales allowances and/or rebates payable directly to those programs. Those sales allowances and rebates are generally negotiated, but government programs may have legislated amounts by type of product (e.g., patented or unpatented).
Specifically:
Our accruals for Medicare rebates, Medicaid and related state program rebates, performance-based contract rebates, chargebacks, sales allowances and sales returns and cash discounts totaled $5.4 billion and $4.9 billion as of July 1, 2018 and December 31, 2017, respectively.
Amounts recorded for revenue deductions can result from a complex series of judgments about future events and uncertainties and can rely heavily on estimates and assumptions. On a quarterly basis, our adjustments of estimates to reflect actual results generally have been less than 1% of revenues, and have resulted in either a net increase or a net decrease in Revenues. Product-specific rebates, however, can have a significant impact on year-over-year individual product growth trends. Taxes collected from customers relating to product sales and remitted to governmental authorities are excluded from Revenues. D. Collaborative Arrangements Payments to and from our collaboration partners are presented in our condensed consolidated statements of income based on the nature of the arrangement (including its contractual terms), the nature of the payments and applicable accounting guidance. Under co-promotion agreements, we record the amounts received from our collaboration partners as alliance revenues, a component of Revenues, when our collaboration partners are the principal in the transaction and we receive a share of their net sales or profits. Alliance revenues are recorded as we perform co-promotion services for the collaboration and the collaboration partners sell the products to their customers within the applicable period. The related expenses for selling and marketing these products are included in Selling, informational and administrative expenses. In collaborative arrangements where we manufacture a product for our collaboration partners, we record revenues when we transfer control of the product to our collaboration partners. All royalty payments to collaboration partners are included in Cost of sales. Royalty payments received from collaboration partners are included in Other (income)/deductions—net. Reimbursements to or from our collaboration partners for development costs are recorded net in Research and development expenses. Upfront payments and pre-approval milestone payments due from us to our collaboration partners in development stage collaborations are recorded as Research and development expenses. Milestone payments due from us to our collaboration partners after regulatory approval has been attained for a medicine are recorded in Identifiable intangible assets—Developed technology rights. Upfront and pre-approval milestone payments earned from our collaboration partners by us are recognized in Other (income)/deductions—net over the development period for the collaboration products, when our performance obligations include providing R&D services to our collaboration partners. Upfront, pre-approval and post-approval milestone payments earned by us may be recognized in Other (income)/deductions—net immediately when earned or over other periods depending upon the nature of our performance obligations in the applicable collaboration. Where the milestone event is regulatory approval for a medicine, we generally recognize milestone payments due to us in the transaction price when regulatory approval in the applicable jurisdiction has been attained. We may recognize milestone payments due to us in the transaction price earlier than the milestone event in certain circumstances when recognition of the income would not be probable of a significant reversal. On January 1, 2018, we adopted a new accounting standard on revenue recognition (see Note 1B). As a result of the adoption, we recognized the following cumulative effect adjustments related to collaboration arrangements to Retained earnings:
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Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Impact of Adoption of Accounting Standard Updates |
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Reconciliation of Cash, Cash Equivalents and Restricted Cash |
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Reconciliation of Cash, Cash Equivalents and Restricted Cash |
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Schedule of Balance Sheet Classification of Accruals |
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Restructuring Charges and Other Costs Associated with Acquisitions and Cost-Reduction/Productivity Initiatives (Tables) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jul. 01, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring and Related Activities [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Components of Costs Associated with Acquisitions and Cost-Reduction/Productivity Initiatives |
The restructuring activities for 2018 are associated with the following:
The restructuring activities for 2017 are associated with the following:
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Schedule of Components of and Changes in Restructuring Accruals |
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Other (Income)/Deductions - Net (Tables) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jul. 01, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Income and Expenses [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Other (Income)/Deductions - Net |
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Schedule of Additional Information About Intangible Assets Impaired |
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Tax Matters (Tables) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jul. 01, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Tax Provision (Benefit) on Other Comprehensive Income/(Loss) |
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Accumulated Other Comprehensive Loss, Excluding Noncontrolling Interests (Tables) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jul. 01, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Changes in Accumulated Other Comprehensive Loss, Net of Tax |
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Financial Instruments (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jul. 01, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financial Instruments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Financial Assets and Liabilities Measured At Fair Value On a Recurring Basis |
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Schedule of Financial Liabilities Not Measured At Fair Value On a Recurring Basis |
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Investments by Classification Type |
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Schedule of Held-to-maturity Securities |
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Schedule of Available-for-sale Securities |
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Contractual Maturities of Available-for-sale and Held-to-maturity Debt Securities |
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Schedule of Gains and Losses on Investment Securities |
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Schedule of Short-term Borrowings |
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Schedule of Principal Amounts of Senior Unsecured Long-Term Debt and Adjustments |
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Schedule of Derivative Instruments |
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Schedule of Derivative Assets |
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Schedule of Derivative Liabilities |
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Information about Gains/(Losses) Incurred to Hedge or Offset Operational Foreign Exchange or Interest Rate Risk |
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Schedule of Amounts Recorded In Balance Sheet Related to Cumulative Adjustments for Fair Value Hedges |
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Schedule of Amounts Recorded In Balance Sheet Related to Cumulative Adjustments for Fair Value Hedges |
|
Inventories (Tables) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jul. 01, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Inventory Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Components of Inventories, Current |
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Schedule of Components of Inventories, Noncurrent |
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Identifiable Intangible Assets and Goodwill (Tables) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jul. 01, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Finite-Lived Intangible Assets |
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Schedule of Indefinite Lived Intangible Assets |
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Identifiable Intangible Assets as a Percentage of Total Identifiable Intangible Assets Less Accumulated Amortization, By Segment |
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Schedule of Goodwill |
|
Pension and Postretirement Benefit Plans (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jul. 01, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retirement Benefits [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Net Periodic Benefit Costs |
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Schedule of Employer Contributions to Pension and Postretirement Plans |
|
Earnings Per Common Share Attributable to Common Shareholders (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jul. 01, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Basic and Diluted Earning Per Share |
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Segment, Geographic and Other Revenue Information (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jul. 01, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reconciliation of Revenue from Segments to Consolidated |
For Earnings in the second quarter of 2018, certain significant items includes: (i) restructuring credits and implementation costs associated with our cost-reduction initiatives that are not associated with an acquisition of $42 million, (ii) a net credit for certain legal matters of $88 million, (iii) adjustments of $2 million income to amounts previously recorded to write down the HIS net assets to fair value less costs to sell, (iv) certain asset impairments of $31 million, (v) charges for business and legal entity alignment of $1 million and (vi) other charges of $37 million. For additional information, see Note 2B, Note 3 and Note 4. For Earnings in the second quarter of 2017, certain significant items includes: (i) restructuring credits and implementation costs associated with our cost-reduction initiatives that are not associated with an acquisition of $49 million, (ii) an incremental charge to amounts previously recorded to write down the HIS net assets to fair value less costs to sell of $28 million, (iii) charges for business and legal entity alignment of $17 million and (iv) other charges of $97 million. For additional information, see Note 2B, Note 3 and Note 4. For Earnings in the first six months of 2018, certain significant items includes: (i) restructuring credits and implementation costs associated with our cost-reduction initiatives that are not associated with an acquisition of $93 million, (ii) net credits for certain legal matters of $107 million, (iii) adjustments to amounts previously recorded to write down the HIS net assets to fair value less costs to sell of $1 million, (iv) certain asset impairments of $31 million, (v) charges for business and legal entity alignment of $4 million and (vi) other charges of $199 million, which primarily includes $119 million, in the aggregate, for a special one-time bonus paid to virtually all Pfizer colleagues, excluding executives, which was one of several actions taken by us after evaluating the expected positive net impact of the December 2017 enactment of the TCJA on us. For additional information, see Note 2B, Note 3 and Note 4. For Earnings in the first six months of 2017, certain significant items includes: (i) restructuring credits and implementation costs associated with our cost-reduction initiatives that are not associated with an acquisition of $79 million, (ii) charges for certain legal matters of $8 million, (iii) adjustments to amounts previously recorded to the write-down the HIS net assets to fair value less costs to sell of $64 million, (iv) charges for business and legal entity alignment of $38 million and (v) other charges of $158 million. For additional information, see Note 2B, Note 3 and Note 4. |
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Reconciliation of Operating Profit (Loss) from Segments to Consolidated |
For Earnings in the second quarter of 2018, certain significant items includes: (i) restructuring credits and implementation costs associated with our cost-reduction initiatives that are not associated with an acquisition of $42 million, (ii) a net credit for certain legal matters of $88 million, (iii) adjustments of $2 million income to amounts previously recorded to write down the HIS net assets to fair value less costs to sell, (iv) certain asset impairments of $31 million, (v) charges for business and legal entity alignment of $1 million and (vi) other charges of $37 million. For additional information, see Note 2B, Note 3 and Note 4. For Earnings in the second quarter of 2017, certain significant items includes: (i) restructuring credits and implementation costs associated with our cost-reduction initiatives that are not associated with an acquisition of $49 million, (ii) an incremental charge to amounts previously recorded to write down the HIS net assets to fair value less costs to sell of $28 million, (iii) charges for business and legal entity alignment of $17 million and (iv) other charges of $97 million. For additional information, see Note 2B, Note 3 and Note 4. For Earnings in the first six months of 2018, certain significant items includes: (i) restructuring credits and implementation costs associated with our cost-reduction initiatives that are not associated with an acquisition of $93 million, (ii) net credits for certain legal matters of $107 million, (iii) adjustments to amounts previously recorded to write down the HIS net assets to fair value less costs to sell of $1 million, (iv) certain asset impairments of $31 million, (v) charges for business and legal entity alignment of $4 million and (vi) other charges of $199 million, which primarily includes $119 million, in the aggregate, for a special one-time bonus paid to virtually all Pfizer colleagues, excluding executives, which was one of several actions taken by us after evaluating the expected positive net impact of the December 2017 enactment of the TCJA on us. For additional information, see Note 2B, Note 3 and Note 4. For Earnings in the first six months of 2017, certain significant items includes: (i) restructuring credits and implementation costs associated with our cost-reduction initiatives that are not associated with an acquisition of $79 million, (ii) charges for certain legal matters of $8 million, (iii) adjustments to amounts previously recorded to the write-down the HIS net assets to fair value less costs to sell of $64 million, (iv) charges for business and legal entity alignment of $38 million and (v) other charges of $158 million. For additional information, see Note 2B, Note 3 and Note 4. |
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Schedule of Revenues by Geographic Region |
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Schedule of Significant Product Revenues |
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Basis of Presentation and Significant Accounting Policies (Details) $ in Millions |
3 Months Ended | 6 Months Ended | 12 Months Ended | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jan. 01, 2018
USD ($)
Accounting_standard
|
Jul. 01, 2018
USD ($)
|
Apr. 01, 2018
USD ($)
|
Jul. 02, 2017
USD ($)
|
Jul. 01, 2018
USD ($)
Operating_Segment
|
Jul. 02, 2017
USD ($)
|
Dec. 31, 2017
USD ($)
|
||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||||||||||||
Number of business segments | Operating_Segment | 2 | |||||||||||||
Number of accounting standards adopted | Accounting_standard | 11 | |||||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||||||||
Net unrealized gains on equity securities | $ 213 | $ 299 | ||||||||||||
Other (income)/deductions––net | [1] | (551) | $ (75) | (728) | $ (14) | |||||||||
Net increase in cash and cash equivalents and restricted cash and cash equivalents | [2] | 1,381 | (5) | |||||||||||
Accrued rebates and other accruals | 5,396 | 5,396 | $ 4,923 | |||||||||||
Financial Assets and Liabilities [Member] | ||||||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||||||||
Cumulative effect adjustment to retained earnings, pre-tax | $ 462 | |||||||||||||
Cumulative effect adjustment to retained earnings, after-tax | 419 | |||||||||||||
Net unrealized gains on equity securities | [3] | 226 | $ 0 | 337 | $ 0 | |||||||||
Accounting for Hedging Activities [Member] | ||||||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||||||||
Other (income)/deductions––net | $ (16) | (45) | ||||||||||||
Restricted Cash in the Statement of Cash Flows [Member] | ||||||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||||||||
Net increase in cash and cash equivalents and restricted cash and cash equivalents | 19 | |||||||||||||
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Revenues [Member] | ||||||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||||||||
Cumulative effect adjustment to retained earnings, pre-tax | 584 | $ 584 | ||||||||||||
Cumulative effect adjustment to retained earnings, after-tax | 450 | |||||||||||||
Reclassification From Financing Activities To Operating Activities [Member] | Classification of Certain Transactions in the Statement of Cash Flows [Member] | ||||||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||||||||
Debt prepayment and extinguishment costs | 7 | |||||||||||||
Reclassification From Operating Activities To Financing Activities [Member] | Classification of Certain Transactions in the Statement of Cash Flows [Member] | ||||||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||||||||
Accreted interest | $ 38 | |||||||||||||
Collaboration Arrangements [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Revenues [Member] | ||||||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||||||||
Cumulative effect adjustment to retained earnings, pre-tax | 500 | |||||||||||||
Collaboration Arrangements, Income From Upfront And Pre-Approval Milestone Payments [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Revenues [Member] | ||||||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||||||||
Cumulative effect adjustment to retained earnings, pre-tax | 394 | |||||||||||||
Collaboration Arrangements, Product Manufacturing [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Revenues [Member] | ||||||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||||||||
Cumulative effect adjustment to retained earnings, pre-tax | 82 | |||||||||||||
Product Rights And Out-Licensing Arrangements [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Revenues [Member] | ||||||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||||||||
Cumulative effect adjustment to retained earnings, pre-tax | 394 | |||||||||||||
Product Shipments [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Revenues [Member] | ||||||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||||||||
Cumulative effect adjustment to retained earnings, pre-tax | 84 | |||||||||||||
Sales Revenue, Product Line [Member] | Product Concentration Risk [Member] | Top Nine Products [Member] | ||||||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||||||||
Concentration risk, amount | $ 1,000 | |||||||||||||
Concentration risk, percentage | 46.00% | |||||||||||||
Retained Earnings [Member] | Income Tax Accounting [Member] | ||||||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||||||||
Cumulative effect adjustment to retained earnings, after-tax | (189) | |||||||||||||
Retained Earnings [Member] | Reclassification of Certain Tax Effects from AOCI [Member] | ||||||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||||||||
Cumulative effect adjustment to retained earnings, after-tax | $ 495 | |||||||||||||
|
Basis of Presentation and Significant Accounting Policies - Impact of Adoption of Pension and Postretirement Benefit Costs Accounting Standard (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Jul. 01, 2018 |
Jul. 02, 2017 |
Jul. 01, 2018 |
Jul. 02, 2017 |
||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||
Cost of sales | [1],[2] | $ 2,916 | $ 2,660 | $ 5,479 | $ 5,128 | ||||||
Selling, informational and administrative expenses | [1],[2] | 3,542 | 3,430 | 6,954 | 6,745 | ||||||
Research and development expenses | [1],[2] | 1,797 | 1,787 | 3,540 | 3,502 | ||||||
Restructuring charges and certain acquisition-related costs | [1] | 44 | 70 | 87 | 153 | ||||||
Other (income)/deductions––net | [1] | (551) | (75) | (728) | (14) | ||||||
Income from continuing operations before provision for taxes on income | [1],[3] | $ 4,527 | 3,815 | $ 8,654 | 7,767 | ||||||
As Previously Reported [Member] | |||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||
Cost of sales | 2,663 | 5,134 | |||||||||
Selling, informational and administrative expenses | 3,425 | 6,733 | |||||||||
Research and development expenses | 1,780 | 3,487 | |||||||||
Restructuring charges and certain acquisition-related costs | 70 | 228 | |||||||||
Other (income)/deductions––net | (66) | (68) | |||||||||
Income from continuing operations before provision for taxes on income | 3,815 | 7,767 | |||||||||
Effect of Change Higher/(Lower) [Member] | Accounting Standards Update 2017-07 [Member] | |||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||
Cost of sales | (3) | (6) | |||||||||
Selling, informational and administrative expenses | 5 | 12 | |||||||||
Research and development expenses | 7 | 15 | |||||||||
Restructuring charges and certain acquisition-related costs | (1) | (74) | |||||||||
Other (income)/deductions––net | (8) | 53 | |||||||||
Income from continuing operations before provision for taxes on income | $ 0 | $ 0 | |||||||||
|
Basis of Presentation and Significant Accounting Policies - Impact of Adoption of Accounting Standards on Consolidated Balance Sheet (Details) - USD ($) $ in Millions |
Jul. 01, 2018 |
[1] | Jan. 01, 2018 |
Dec. 31, 2017 |
|||||
---|---|---|---|---|---|---|---|---|---|
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||
Trade accounts receivable | $ 9,873 | $ 8,234 | $ 8,221 | [1] | |||||
Inventories | 8,074 | [2] | 7,567 | 7,578 | [1],[2] | ||||
Current tax assets | 3,582 | 3,036 | 3,050 | [1] | |||||
Noncurrent deferred tax assets and other noncurrent tax assets | 1,848 | 1,838 | 1,855 | [1] | |||||
Other noncurrent assets | 2,896 | 3,023 | 3,227 | [1] | |||||
Other current liabilities | 10,125 | 10,992 | 11,115 | [1] | |||||
Noncurrent deferred tax liabilities | 5,743 | 3,988 | 3,900 | [1] | |||||
Other noncurrent liabilities | 5,947 | 5,690 | 6,149 | [1] | |||||
Retained earnings | 89,860 | 86,466 | 85,291 | [1] | |||||
Accumulated other comprehensive loss | $ (10,003) | $ (10,235) | (9,321) | [1] | |||||
As Previously Reported [Member] | |||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||
Trade accounts receivable | 8,221 | ||||||||
Inventories | 7,578 | ||||||||
Current tax assets | 3,050 | ||||||||
Noncurrent deferred tax assets and other noncurrent tax assets | 1,855 | ||||||||
Other noncurrent assets | 3,227 | ||||||||
Other current liabilities | 11,115 | ||||||||
Noncurrent deferred tax liabilities | 3,900 | ||||||||
Other noncurrent liabilities | 6,149 | ||||||||
Retained earnings | 85,291 | ||||||||
Accumulated other comprehensive loss | (9,321) | ||||||||
Revenues [Member] | Effect of Change Higher/(Lower) [Member] | |||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||
Trade accounts receivable | 13 | ||||||||
Inventories | (11) | ||||||||
Current tax assets | (11) | ||||||||
Noncurrent deferred tax assets and other noncurrent tax assets | (17) | ||||||||
Other noncurrent assets | 0 | ||||||||
Other current liabilities | (123) | ||||||||
Noncurrent deferred tax liabilities | 106 | ||||||||
Other noncurrent liabilities | (459) | ||||||||
Retained earnings | 450 | ||||||||
Accumulated other comprehensive loss | 0 | ||||||||
Financial Assets and Liabilities [Member] | Effect of Change Higher/(Lower) [Member] | |||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||
Trade accounts receivable | 0 | ||||||||
Inventories | 0 | ||||||||
Current tax assets | 0 | ||||||||
Noncurrent deferred tax assets and other noncurrent tax assets | 0 | ||||||||
Other noncurrent assets | 0 | ||||||||
Other current liabilities | 0 | ||||||||
Noncurrent deferred tax liabilities | 0 | ||||||||
Other noncurrent liabilities | 0 | ||||||||
Retained earnings | 419 | ||||||||
Accumulated other comprehensive loss | (419) | ||||||||
Income Tax Accounting [Member] | Effect of Change Higher/(Lower) [Member] | |||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||
Trade accounts receivable | 0 | ||||||||
Inventories | 0 | ||||||||
Current tax assets | (3) | ||||||||
Noncurrent deferred tax assets and other noncurrent tax assets | 0 | ||||||||
Other noncurrent assets | (204) | ||||||||
Other current liabilities | 0 | ||||||||
Noncurrent deferred tax liabilities | (18) | ||||||||
Other noncurrent liabilities | 0 | ||||||||
Retained earnings | (189) | ||||||||
Accumulated other comprehensive loss | 0 | ||||||||
Reclassification of Certain Tax Effects from AOCI [Member] | Effect of Change Higher/(Lower) [Member] | |||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||
Trade accounts receivable | 0 | ||||||||
Inventories | 0 | ||||||||
Current tax assets | 0 | ||||||||
Noncurrent deferred tax assets and other noncurrent tax assets | 0 | ||||||||
Other noncurrent assets | 0 | ||||||||
Other current liabilities | 0 | ||||||||
Noncurrent deferred tax liabilities | 0 | ||||||||
Other noncurrent liabilities | 0 | ||||||||
Retained earnings | 495 | ||||||||
Accumulated other comprehensive loss | $ (495) | ||||||||
|
Basis of Presentation and Significant Accounting Policies - Impact of Adoption of Accounting Standards Related to Classification of Certain Transactions in the Statement of Cash Flows (Details) - USD ($) $ in Millions |
6 Months Ended | ||||
---|---|---|---|---|---|
Jul. 01, 2018 |
Jul. 02, 2017 |
||||
Operating Activities | |||||
Other adjustments, net | [1] | $ (523) | $ (458) | ||
Other changes in assets and liabilities, net of acquisitions and divestitures | [1] | (3,250) | (3,844) | ||
Investing Activities | |||||
Proceeds from redemptions/sales of short-term investments | [1] | 10,497 | 3,517 | ||
Proceeds from redemptions/sales of long-term investments | [1] | 1,361 | 1,538 | ||
Financing Activities | |||||
Principal payments on short-term borrowings | [1] | (2,921) | (5,088) | ||
Net proceeds from short-term borrowings with original maturities of three months or less | [1] | 2,092 | 265 | ||
Net increase/(decrease) in cash and cash equivalents and restricted cash and cash equivalents | [1] | 1,381 | (5) | ||
Cash and cash equivalents and restricted cash and cash equivalents, beginning | [1] | 1,431 | 2,666 | ||
Cash and cash equivalents and restricted cash and cash equivalents, end | [1] | 2,811 | 2,661 | ||
As Previously Reported [Member] | |||||
Operating Activities | |||||
Other adjustments, net | (433) | ||||
Other changes in assets and liabilities, net of acquisitions and divestitures | (3,853) | ||||
Investing Activities | |||||
Proceeds from redemptions/sales of short-term investments | 3,520 | ||||
Proceeds from redemptions/sales of long-term investments | 1,539 | ||||
Financing Activities | |||||
Principal payments on short-term borrowings | (5,110) | ||||
Net proceeds from short-term borrowings with original maturities of three months or less | 261 | ||||
Net increase/(decrease) in cash and cash equivalents and restricted cash and cash equivalents | (10) | ||||
Cash and cash equivalents and restricted cash and cash equivalents, beginning | 2,595 | ||||
Cash and cash equivalents and restricted cash and cash equivalents, end | 2,585 | ||||
Cash Flow Classification [Member] | Effect of Change Higher/(Lower) [Member] | |||||
Operating Activities | |||||
Other adjustments, net | (26) | ||||
Financing Activities | |||||
Principal payments on short-term borrowings | 22 | ||||
Net proceeds from short-term borrowings with original maturities of three months or less | 4 | ||||
Restricted Cash [Member] | |||||
Financing Activities | |||||
Net increase/(decrease) in cash and cash equivalents and restricted cash and cash equivalents | $ 19 | ||||
Restricted Cash [Member] | Effect of Change Higher/(Lower) [Member] | |||||
Operating Activities | |||||
Other changes in assets and liabilities, net of acquisitions and divestitures | 9 | ||||
Investing Activities | |||||
Proceeds from redemptions/sales of short-term investments | (3) | ||||
Proceeds from redemptions/sales of long-term investments | (2) | ||||
Financing Activities | |||||
Net increase/(decrease) in cash and cash equivalents and restricted cash and cash equivalents | 5 | ||||
Cash and cash equivalents and restricted cash and cash equivalents, beginning | 70 | ||||
Cash and cash equivalents and restricted cash and cash equivalents, end | $ 75 | ||||
|
Basis of Presentation and Significant Accounting Policies - Reconciliation of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Millions |
Jul. 01, 2018 |
Dec. 31, 2017 |
Jul. 02, 2017 |
Dec. 31, 2016 |
||||||
---|---|---|---|---|---|---|---|---|---|---|
Restricted Cash and Cash Equivalents Items [Line Items] | ||||||||||
Cash and cash equivalents | [1] | $ 2,704 | $ 1,342 | [2] | ||||||
Total cash and cash equivalents and restricted cash and cash equivalents shown in the condensed consolidated balance sheets | [2] | 2,811 | 1,431 | $ 2,661 | $ 2,666 | |||||
Short-term investments [Member] | ||||||||||
Restricted Cash and Cash Equivalents Items [Line Items] | ||||||||||
Restricted cash and cash equivalents | 42 | 0 | ||||||||
Long-term investments [Member] | ||||||||||
Restricted Cash and Cash Equivalents Items [Line Items] | ||||||||||
Restricted cash and cash equivalents | 66 | 0 | ||||||||
Other current assets [Member] | ||||||||||
Restricted Cash and Cash Equivalents Items [Line Items] | ||||||||||
Restricted cash and cash equivalents | 0 | 14 | ||||||||
Other noncurrent assets [Member] | ||||||||||
Restricted Cash and Cash Equivalents Items [Line Items] | ||||||||||
Restricted cash and cash equivalents | $ 0 | $ 75 | ||||||||
|
Basis of Presentation and Significant Accounting Policies - Accrued Rebates and Other Accruals (Details) - USD ($) $ in Millions |
Jul. 01, 2018 |
Dec. 31, 2017 |
---|---|---|
Schedule Of Accrued Liabilities [Line Items] | ||
Accrued rebates and other accruals | $ 5,396 | $ 4,923 |
Trade accounts receivable, less allowance for doubtful accounts [Member] | ||
Schedule Of Accrued Liabilities [Line Items] | ||
Accrued rebates and other accruals | 1,252 | 1,352 |
Other current liabilities [Member] | ||
Schedule Of Accrued Liabilities [Line Items] | ||
Accrued rebates | 3,039 | 2,674 |
Other accruals | 698 | 512 |
Other noncurrent liabilities [Member] | ||
Schedule Of Accrued Liabilities [Line Items] | ||
Accrued rebates and other accruals | $ 406 | $ 385 |
Acquisition, Divestitures, Licensing Arrangements, Collaborative Arrangements and Privately Held Investment - AstraZeneca (Details) - USD ($) |
3 Months Ended | ||||||
---|---|---|---|---|---|---|---|
Dec. 22, 2016 |
Apr. 01, 2018 |
Jul. 02, 2017 |
Jul. 01, 2018 |
Dec. 31, 2017 |
|||
Business Acquisition [Line Items] | |||||||
Goodwill | [1] | $ 55,836,000,000 | $ 55,952,000,000 | ||||
AstraZeneca [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Initial payment | $ 552,000,000 | ||||||
Additional payment made for a purchase price adjustment | $ 3,000,000 | ||||||
Milestone payment | $ 125,000,000 | $ 50,000,000 | |||||
Deferred payment | 175,000,000 | ||||||
Maximum amount of potential milestone payments | 75,000,000 | ||||||
Maximum amount of potential sales-related payments | $ 600,000,000 | ||||||
Term of royalty payments | 10 years | ||||||
Consideration transferred in business acquisition | $ 1,040,000,000 | ||||||
Payments for acquisitions, cash portion | 555,000,000 | ||||||
Contingent consideration assumed | 485,000,000 | ||||||
Identifiable intangible assets | 894,000,000 | ||||||
Other current assets | 92,000,000 | ||||||
Goodwill | 73,000,000 | ||||||
Deferred tax liabilities | 19,000,000 | ||||||
In Process Research and Development [Member] | AstraZeneca [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Identifiable intangible assets | 166,000,000 | ||||||
Developed Technology Rights [Member] | AstraZeneca [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Identifiable intangible assets | 728,000,000 | ||||||
Minimum [Member] | AstraZeneca [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Undiscounted royalty payments | 250,000,000 | ||||||
Maximum [Member] | AstraZeneca [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Undiscounted royalty payments | $ 430,000,000 | ||||||
|
Acquisition, Divestitures, Licensing Arrangements, Collaborative Arrangements and Privately Held Investment - Sale of Hospira Infusion Systems Net Assets to ICU Medical, Inc. (EH) (Details) - USD ($) shares in Millions, $ in Millions |
3 Months Ended | 6 Months Ended | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Feb. 03, 2017 |
Jul. 01, 2018 |
Jul. 02, 2017 |
Jul. 01, 2018 |
Jul. 02, 2017 |
Jan. 05, 2017 |
Oct. 06, 2016 |
|||||||
Business Acquisition [Line Items] | |||||||||||||
Gain (loss) on sale of HIS net assets | [1] | $ 2 | $ (28) | $ (1) | [2] | $ (64) | [2] | ||||||
HIS [Member] | Disposed of by Sale [Member] | ICU Medical [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Consideration transferred | $ 900 | $ 1,000 | |||||||||||
Number of shares received in disposition | 3.2 | ||||||||||||
Value of shares received from disposition | $ 428 | ||||||||||||
Promissory note | 75 | ||||||||||||
Cash received from disposition | 200 | ||||||||||||
Contingent consideration | $ 225 | ||||||||||||
Ownership percentage | 16.00% | 16.00% | |||||||||||
Minimum share transfer restriction term | 18 months | ||||||||||||
Gain (loss) on sale of HIS net assets | $ 2 | $ (28) | $ (1) | $ (64) | |||||||||
Administrative service period | 24 months | ||||||||||||
Maximum manufacturing service period | 5 years | ||||||||||||
|
Acquisition, Divestitures, Licensing Arrangements, Collaborative Arrangements and Privately Held Investment - Allogene (Details) - USD ($) $ in Millions |
1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended |
---|---|---|---|---|
Apr. 30, 2018 |
Jul. 01, 2018 |
Jul. 01, 2018 |
Dec. 31, 2014 |
|
Allogene [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Investment ownership percentage | 25.00% | |||
Non-cash pre-tax gain from the difference between the fair value of equity investment received and book value of assets transferred | $ 50 | $ 50 | ||
Cellectis [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Investment ownership percentage | 7.00% | |||
Upfront payment to Cellectis | $ 80 |
Acquisition, Divestitures, Licensing Arrangements, Collaborative Arrangements and Privately Held Investment - Biogen (Details) - Disposed of by Sale [Member] - Phase 2b Ready AMPA Receptor Potentiator For CIAS [Member] $ in Millions |
1 Months Ended |
---|---|
Apr. 30, 2018
USD ($)
| |
Indefinite-lived Intangible Assets [Line Items] | |
Proceeds from sale of Phase 2b Ready AMPA Receptor Potentiator for CIAS to Biogen | $ 75 |
Potential development and commercialization milestones | 515 |
Other (Income)/Deductions, Net [Member] | |
Indefinite-lived Intangible Assets [Line Items] | |
Proceeds from sale of Phase 2b Ready AMPA Receptor Potentiator for CIAS to Biogen | $ 75 |
Acquisition, Divestitures, Licensing Arrangements, Collaborative Arrangements and Privately Held Investment - Licensing Arrangement (Details) - Shire [Member] - Licensing Arrangement [Member] - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | 12 Months Ended |
---|---|---|---|
Apr. 01, 2018 |
Jul. 01, 2018 |
Dec. 31, 2016 |
|
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Maximum amount of possible development and sales-based milestone payments and potential future royalty payments | $ 460 | ||
Other (Income)/Deductions, Net [Member] | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Proceeds from licensing arrangement | $ 75 | $ (75) | $ 90 |
Acquisition, Divestitures, Licensing Arrangements, Collaborative Arrangements and Privately Held Investment - Collaboration Arrangement (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | 12 Months Ended | |||
---|---|---|---|---|---|---|
Jan. 01, 2018 |
Apr. 01, 2018 |
Apr. 02, 2017 |
Jul. 01, 2018 |
Dec. 31, 2013 |
Dec. 31, 2017 |
|
Merck [Member] | Collaborative Arrangement [Member] | ||||||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | ||||||
Collaborator's revenue and expense ownership percentage | 60.00% | |||||
Company's revenue and expense ownership percentage | 40.00% | |||||
Eli Lilly & Company [Member] | Collaborative Arrangement [Member] | ||||||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | ||||||
Deferred milestone revenue recognized | $ 43 | |||||
Other (Income)/Deductions, Net [Member] | Merck [Member] | Collaborative Arrangement [Member] | ||||||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | ||||||
Upfront payments received | $ 90 | 40 | ||||
Milestone payment receivable | $ 40 | $ 60 | ||||
Deferred milestone revenue recognized | 90 | |||||
Other Noncurrent Liabilities [Member] | Merck [Member] | Collaborative Arrangement [Member] | ||||||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | ||||||
Deferred milestone payment | $ 60 | |||||
Other Noncurrent Liabilities [Member] | Eli Lilly & Company [Member] | Collaborative Arrangement [Member] | ||||||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | ||||||
Deferred milestone revenue recognized | 14 | |||||
Deferred Revenue [Member] | Eli Lilly & Company [Member] | Collaborative Arrangement [Member] | ||||||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | ||||||
Upfront payments received | $ 200 | |||||
Other Current Liabilities [Member] | Eli Lilly & Company [Member] | Collaborative Arrangement [Member] | ||||||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | ||||||
Deferred milestone revenue recognized | $ 29 | |||||
Revenues [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | ||||||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | ||||||
Cumulative effect adjustment to retained earnings, pre-tax | $ 584 | 584 | ||||
Revenues [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Other (Income)/Deductions, Net [Member] | Merck [Member] | Collaborative Arrangement [Member] | ||||||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | ||||||
Deferred milestone revenue recognized | 85 | |||||
Revenues [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Other Noncurrent Liabilities [Member] | Merck [Member] | Collaborative Arrangement [Member] | ||||||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | ||||||
Deferred milestone payment | 60 | |||||
Revenues [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Deferred Revenue [Member] | Eli Lilly & Company [Member] | Collaborative Arrangement [Member] | ||||||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | ||||||
Deferred milestone revenue recognized | $ 107 |
Restructuring Charges and Other Costs Associated with Acquisitions and Cost-Reduction/Productivity Initiatives - Narrative (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | 36 Months Ended | ||||
---|---|---|---|---|---|---|---|
Jul. 01, 2018 |
Jul. 02, 2017 |
Jul. 01, 2018 |
Jul. 02, 2017 |
Sep. 03, 2018 |
|||
Restructuring Cost and Reserve [Line Items] | |||||||
Integration costs | [1] | $ 68 | $ 86 | $ 120 | $ 163 | ||
Enterprise-wide Cost Reduction/Productivity Plan [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring costs incurred | 152 | ||||||
Expected restructuring cost | 1,200 | $ 1,200 | |||||
Percentage of expected costs to be non-cash | 20.00% | ||||||
Manufacturing Plant Network Optimization [Member] | Enterprise-wide Cost Reduction/Productivity Plan [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Expected restructuring cost | 800 | $ 800 | |||||
Restructuring costs incurred | 283 | 283 | |||||
Centralization of Corporate and Platform Functions [Member] | Enterprise-wide Cost Reduction/Productivity Plan [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Expected restructuring cost | 400 | 400 | |||||
Restructuring costs incurred | $ 217 | 217 | |||||
Business Integration Costs [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring costs incurred | $ 29 | ||||||
Hospira [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Expected integration related costs, period | 3 years | ||||||
Hospira [Member] | Return of Acquired Rights [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring costs incurred | $ 215 | ||||||
Hospira [Member] | Business Integration Costs [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring costs incurred | $ 81 | ||||||
Forecast [Member] | Hospira [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Integration costs | $ 1,000 | ||||||
|
Restructuring Charges and Other Costs Associated with Acquisitions and Cost-Reduction/Productivity Initiatives (Detail) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jul. 01, 2018 |
Jul. 02, 2017 |
Jul. 01, 2018 |
Jul. 02, 2017 |
||||||||||||||||
Restructuring charges: | |||||||||||||||||||
Employee terminations | $ (21) | $ (27) | $ (29) | $ (57) | |||||||||||||||
Asset impairments | (6) | 0 | (4) | 24 | |||||||||||||||
Exit costs | 3 | 4 | 0 | 6 | |||||||||||||||
Restructuring credits | [1] | (24) | (23) | (33) | (27) | ||||||||||||||
Transaction costs | [2] | 0 | 6 | 0 | 18 | ||||||||||||||
Integration costs | [3] | 68 | 86 | 120 | 163 | ||||||||||||||
Restructuring charges and certain acquisition-related costs | [4] | 44 | 70 | 87 | 153 | ||||||||||||||
Additional depreciation––asset restructuring recorded in Cost of sales: | [5] | 13 | 21 | 31 | 35 | ||||||||||||||
Implementation costs recorded in our condensed consolidated statements of income as follows: | |||||||||||||||||||
Implementation costs | [6] | 44 | 62 | 82 | 93 | ||||||||||||||
Total costs associated with acquisitions and cost-reduction/productivity initiatives | 131 | 153 | 262 | 356 | |||||||||||||||
Other (Income)/Deductions, Net [Member] | |||||||||||||||||||
Restructuring charges: | |||||||||||||||||||
Net periodic pension and postretirement benefit costs recorded in Other (income)/deductions––net | [7] | 29 | 1 | 61 | 74 | ||||||||||||||
Cost of Sales [Member] | |||||||||||||||||||
Implementation costs recorded in our condensed consolidated statements of income as follows: | |||||||||||||||||||
Implementation costs | [6] | 20 | 36 | 36 | 51 | ||||||||||||||
Selling, Informational and Administrative Expenses [Member] | |||||||||||||||||||
Implementation costs recorded in our condensed consolidated statements of income as follows: | |||||||||||||||||||
Implementation costs | [6] | 16 | 15 | 34 | 24 | ||||||||||||||
Research and Development Expense [Member] | |||||||||||||||||||
Implementation costs recorded in our condensed consolidated statements of income as follows: | |||||||||||||||||||
Implementation costs | [6] | $ 7 | $ 11 | $ 13 | $ 17 | ||||||||||||||
|
Restructuring Charges and Other Costs Associated with Acquisitions and Cost-Reduction/Productivity Initiatives - Footnotes (Detail) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Jul. 01, 2018 |
Jul. 02, 2017 |
Jul. 01, 2018 |
Jul. 02, 2017 |
||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||
Restructuring charges (income) | [1] | $ (24) | $ (23) | $ (33) | $ (27) | ||||||
Corporate [Member] | |||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||
Restructuring charges (income) | (26) | 1 | (22) | 3 | |||||||
IH [Member] | Operating Segments [Member] | |||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||
Restructuring charges (income) | (12) | (8) | (12) | (1) | |||||||
EH [Member] | Operating Segments [Member] | |||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||
Restructuring charges (income) | 2 | 7 | (12) | (11) | |||||||
WRD & GPD [Member] | Segment Reconciling Items [Member] | |||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||
Restructuring charges (income) | (14) | (2) | (26) | ||||||||
Manufacturing operations [Member] | Segment Reconciling Items [Member] | |||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||
Restructuring charges (income) | 13 | (8) | 15 | 9 | |||||||
Pension Plan [Member] | U.S. [Member] | Qualified Plan [Member] | |||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||
Gain related to settlement of Hospira U.S. qualified defined benefit pension plan | [2],[3] | $ (25) | 7 | $ (45) | (24) | ||||||
Pension Plan [Member] | U.S. [Member] | Hospira [Member] | Qualified Plan [Member] | |||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||
Gain related to settlement of Hospira U.S. qualified defined benefit pension plan | $ 12 | $ 12 | |||||||||
|
Restructuring Charges and Other Costs Associated with Acquisitions and Cost-Reduction/Productivity Initiatives - Restructuring Accruals (Detail) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jul. 01, 2018 |
Jul. 02, 2017 |
Jul. 01, 2018 |
Jul. 02, 2017 |
||||||||||
Restructuring Reserve [Roll Forward] | |||||||||||||
Balance, December 31, 2017 | [1] | $ 1,105 | |||||||||||
Credits | [2] | $ (24) | $ (23) | (33) | $ (27) | ||||||||
Utilization and other | [3] | (195) | |||||||||||
Balance, July 1, 2018 | [4] | 877 | 877 | ||||||||||
Employee Termination Costs [Member] | |||||||||||||
Restructuring Reserve [Roll Forward] | |||||||||||||
Balance, December 31, 2017 | [1] | 1,039 | |||||||||||
Credits | (29) | ||||||||||||
Utilization and other | [3] | (171) | |||||||||||
Balance, July 1, 2018 | [4] | 839 | 839 | ||||||||||
Asset Impairment Charges [Member] | |||||||||||||
Restructuring Reserve [Roll Forward] | |||||||||||||
Balance, December 31, 2017 | [1] | 0 | |||||||||||
Credits | (4) | ||||||||||||
Utilization and other | [3] | 4 | |||||||||||
Balance, July 1, 2018 | [4] | 0 | 0 | ||||||||||
Exit Costs [Member] | |||||||||||||
Restructuring Reserve [Roll Forward] | |||||||||||||
Balance, December 31, 2017 | [1] | 66 | |||||||||||
Credits | 0 | ||||||||||||
Utilization and other | [3] | (28) | |||||||||||
Balance, July 1, 2018 | [4] | $ 38 | $ 38 | ||||||||||
|
Restructuring Charges and Other Costs Associated with Acquisitions and Cost-Reduction/Productivity Initiatives - Restructuring Accruals - Footnotes (Detail) - USD ($) $ in Millions |
Jul. 01, 2018 |
Dec. 31, 2017 |
||||||
---|---|---|---|---|---|---|---|---|
Restructuring Cost and Reserve [Line Items] | ||||||||
Restructuring reserve | $ 877 | [1] | $ 1,105 | [2] | ||||
Other Current Liabilities [Member] | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Restructuring reserve | 460 | 643 | ||||||
Other Noncurrent Liabilities [Member] | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Restructuring reserve | $ 418 | $ 462 | ||||||
|
Other (Income)/Deductions - Net (Detail) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jul. 01, 2018 |
Jul. 02, 2017 |
Jul. 01, 2018 |
Jul. 02, 2017 |
||||||||||||||||||||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||||||||||||||||||||||
Interest income | [1] | $ (80) | $ (94) | $ (157) | $ (175) | ||||||||||||||||||||||||||
Interest expense | [1] | 326 | 312 | 635 | 621 | ||||||||||||||||||||||||||
Net interest expense | 245 | 218 | 478 | 446 | |||||||||||||||||||||||||||
Royalty-related income | (121) | (105) | (217) | (191) | |||||||||||||||||||||||||||
Net gains on asset disposals | [2] | (17) | (34) | (36) | (125) | ||||||||||||||||||||||||||
Income from collaborations, out-licensing arrangements and sales of compound/product rights | [3] | (174) | (37) | (316) | (85) | ||||||||||||||||||||||||||
Net unrealized gains on equity securities | (213) | (299) | |||||||||||||||||||||||||||||
Net periodic benefit costs/(credits) other than service costs | [4] | (84) | (8) | (166) | 53 | ||||||||||||||||||||||||||
Certain legal matters, net | [5] | (88) | 3 | (107) | 11 | ||||||||||||||||||||||||||
Certain asset impairments | [6] | 31 | 0 | 31 | 13 | ||||||||||||||||||||||||||
Adjustments to loss on sale of HIS net assets | [7] | (2) | 28 | 1 | [8] | 64 | [8] | ||||||||||||||||||||||||
Business and legal entity alignment costs | [9] | 1 | 17 | 4 | 38 | ||||||||||||||||||||||||||
Other, net | [10] | (115) | (155) | (64) | (239) | ||||||||||||||||||||||||||
Other (income)/deductions––net | [11] | (551) | (75) | (728) | (14) | ||||||||||||||||||||||||||
Financial Assets and Liabilities [Member] | |||||||||||||||||||||||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||||||||||||||||||||||
Net unrealized gains on equity securities | [12] | $ (226) | $ 0 | $ (337) | $ 0 | ||||||||||||||||||||||||||
|
Other (Income)/Deductions - Net - Footnotes (Detail) - USD ($) shares in Millions, $ in Millions |
1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Apr. 30, 2018 |
Jul. 01, 2018 |
Apr. 01, 2018 |
Jul. 02, 2017 |
Apr. 02, 2017 |
Jul. 01, 2018 |
Jul. 02, 2017 |
Dec. 31, 2016 |
Feb. 03, 2017 |
Jan. 05, 2017 |
Oct. 06, 2016 |
|
Loss Contingencies [Line Items] | |||||||||||
Gain on fixed assets and other asset disposals | $ 15 | $ 22 | |||||||||
Gain on sale of investments in debt and equity securities | $ 60 | 14 | $ 102 | ||||||||
Gain on sale of property | $ 50 | ||||||||||
Net unrealized gains on equity securities | 213 | 299 | |||||||||
Laboratorio Teuto Brasilero [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Equity method investment, ownership percentage | 40.00% | 40.00% | |||||||||
Loss on disposal of equity method investment | $ 30 | ||||||||||
Allogene [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Non-cash pre-tax gain from the difference between the fair value of equity investment received and book value of assets transferred | 50 | 50 | |||||||||
Investment ownership percentage | 25.00% | ||||||||||
ViiV Healthcare Limited [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Change in fair value of contingent consideration | 23 | 135 | |||||||||
Operating Segments [Member] | IH [Member] | ViiV Healthcare Limited [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Dividend income | 76 | $ 114 | 135 | $ 157 | |||||||
Other (Income)/Deductions, Net [Member] | Licensing Arrangement [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Milestone payment received | $ 88 | ||||||||||
Other (Income)/Deductions, Net [Member] | Shire [Member] | Licensing Arrangement [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Proceeds from licensing arrangement | $ 75 | (75) | $ 90 | ||||||||
Other (Income)/Deductions, Net [Member] | Merck [Member] | Collaborative Arrangement [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Milestone payment received | $ 90 | $ 40 | |||||||||
Disposed of by Sale [Member] | Phase 2b Ready AMPA Receptor Potentiator For CIAS [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Proceeds from sale of Phase 2b Ready AMPA Receptor Potentiator for CIAS to Biogen | $ 75 | ||||||||||
Disposed of by Sale [Member] | Phase 2b Ready AMPA Receptor Potentiator For CIAS [Member] | Other (Income)/Deductions, Net [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Proceeds from sale of Phase 2b Ready AMPA Receptor Potentiator for CIAS to Biogen | $ 75 | ||||||||||
Disposed of by Sale [Member] | HIS [Member] | ICU Medical [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Ownership percentage | 16.00% | 16.00% | |||||||||
Proceeds from sale of Phase 2b Ready AMPA Receptor Potentiator for CIAS to Biogen | $ 900 | $ 1,000 | |||||||||
Net unrealized gains on equity securities | $ 142 | $ 203 | |||||||||
Number of shares received in disposition | 3.2 | ||||||||||
Laboratorio Teuto Brasilero [Member] | Laboratorio Teuto Brasilero [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Ownership percentage | 60.00% | 60.00% | |||||||||
Developed Technology Rights [Member] | EU [Member] | Mylotarg [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Non-cash gain from buyout transaction | $ 17 | $ 17 |
Other (Income)/Deductions - Net - Intangible Assets (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Jul. 01, 2018 |
Jul. 02, 2017 |
Jul. 01, 2018 |
Jul. 02, 2017 |
||||||||
Finite-Lived Intangible Assets [Line Items] | |||||||||||
Impairment | [1] | $ 31 | $ 0 | $ 31 | $ 13 | ||||||
Developed Technology Right [Member] | |||||||||||
Finite-Lived Intangible Assets [Line Items] | |||||||||||
Intangible assets at fair value | [2],[3] | 35 | 35 | ||||||||
Impairment | [2] | 31 | 31 | ||||||||
Level 1 [Member] | Developed Technology Right [Member] | |||||||||||
Finite-Lived Intangible Assets [Line Items] | |||||||||||
Intangible assets at fair value | [2],[3] | 0 | 0 | ||||||||
Level 2 [Member] | Developed Technology Right [Member] | |||||||||||
Finite-Lived Intangible Assets [Line Items] | |||||||||||
Intangible assets at fair value | [2],[3] | 0 | 0 | ||||||||
Level 3 [Member] | Developed Technology Right [Member] | |||||||||||
Finite-Lived Intangible Assets [Line Items] | |||||||||||
Intangible assets at fair value | [2],[3] | $ 35 | $ 35 | ||||||||
|
Tax Matters - Narrative (Detail) - USD ($) $ in Billions |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jul. 01, 2018 |
Jul. 02, 2017 |
Jul. 01, 2018 |
Jul. 02, 2017 |
Dec. 31, 2017 |
|
Income Tax Disclosure [Abstract] | |||||
Repatriation tax liability | $ 15.2 | ||||
Provisional deferred tax liability | $ 1.0 | ||||
Effective tax rate for income from continuing operations | 14.30% | 19.40% | 13.90% | 20.10% |
Tax Matters (Detail) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jul. 01, 2018 |
Jul. 02, 2017 |
Jul. 01, 2018 |
Jul. 02, 2017 |
||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||||
Foreign currency translation adjustments, net | [1] | $ 101 | $ (109) | $ 67 | $ (130) | ||||||||
Unrealized holding gains/(losses) on derivative financial instruments, net | 8 | (1) | 4 | 2 | |||||||||
Reclassification adjustments for (gains)/losses included in net income | 72 | (88) | 65 | (140) | |||||||||
Derivatives qualifying as hedges, tax, total | 79 | (89) | 70 | (138) | |||||||||
Unrealized holding gains/(losses) on available-for-sale securities, net | (48) | 18 | (28) | 55 | |||||||||
Reclassification adjustments for (gains)/losses included in net income | 20 | (7) | (2) | 4 | |||||||||
Reclassification adjustments for tax on unrealized gains from AOCI to Retained earnings | [2] | (45) | 0 | ||||||||||
Available-for-sale securities, tax, total | (29) | 11 | (76) | 59 | |||||||||
Benefit plans: actuarial gains/(losses), net | (13) | 22 | 25 | 22 | |||||||||
Reclassification adjustments related to amortization | 14 | 43 | 28 | 92 | |||||||||
Reclassification adjustments related to settlements, net | 7 | (4) | 15 | 8 | |||||||||
Other | 27 | (17) | 6 | (13) | |||||||||
Defined benefit plans, actuarial gain (loss), tax, total | 34 | 43 | 712 | 110 | |||||||||
Benefit plans: prior service costs and other, net | 0 | 0 | 0 | 0 | |||||||||
Reclassification adjustments related to amortization | (11) | (17) | (22) | (33) | |||||||||
Reclassification adjustments related to curtailments, net | 4 | (1) | (3) | (4) | |||||||||
Other | (6) | 0 | 0 | 0 | |||||||||
Pension and other postretirement benefit plans, net prior service cost (credit), tax | (13) | (19) | (168) | (38) | |||||||||
Tax provision/(benefit) on other comprehensive income/(loss) | [3] | 173 | (163) | 605 | (138) | ||||||||
ASU 2018-02 [Member] | |||||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||||
Reclassification adjustments of certain tax effects from AOCI to Retained earnings | [4] | 0 | 0 | 1 | 0 | ||||||||
Reclassification adjustments of certain tax effects from AOCI to Retained earnings | [4] | 0 | 0 | 637 | 0 | ||||||||
Reclassification adjustments of certain tax effects from AOCI to Retained earnings | [4] | 0 | 0 | $ (144) | $ 0 | ||||||||
ASU 2016-01 [Member] | |||||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||||
Reclassification adjustments for tax on unrealized gains from AOCI to Retained earnings | [2] | $ 0 | $ 0 | ||||||||||
|
Accumulated Other Comprehensive Loss, Excluding Noncontrolling Interests (Detail) - USD ($) $ in Millions |
6 Months Ended | ||||||||
---|---|---|---|---|---|---|---|---|---|
Jul. 01, 2018 |
Dec. 31, 2017 |
||||||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||||||||
Balance, December 31, 2017 | [1] | $ 71,308 | |||||||
Balance, July 1, 2018 | [1] | 69,778 | |||||||
Foreign currency translation adjustments attributable to noncontrolling interests | 11 | ||||||||
Accumulated Other Comprehensive Income (Loss) [Member] | |||||||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||||||||
Balance, December 31, 2017 | (9,321) | ||||||||
Other comprehensive income/(loss) due to the adoption of new accounting standards | [2] | $ (913) | |||||||
Other comprehensive income/(loss) | [3] | 231 | |||||||
Balance, July 1, 2018 | (10,003) | ||||||||
Foreign Currency Translation Adjustment [Member] | |||||||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||||||||
Balance, December 31, 2017 | (5,180) | ||||||||
Other comprehensive income/(loss) | [3] | (15) | |||||||
Balance, July 1, 2018 | (5,198) | ||||||||
Derivative Financial Instruments [Member] | |||||||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||||||||
Balance, December 31, 2017 | (30) | ||||||||
Other comprehensive income/(loss) | [3] | 298 | |||||||
Balance, July 1, 2018 | 267 | ||||||||
Cash flow hedge gain to be reclassified within twelve months | 213 | ||||||||
Available-For-Sale Securities [Member] | |||||||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||||||||
Balance, December 31, 2017 | 401 | ||||||||
Other comprehensive income/(loss) | [3] | (215) | |||||||
Balance, July 1, 2018 | (230) | ||||||||
Actuarial Gains/(Losses) [Member] | |||||||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||||||||
Balance, December 31, 2017 | (5,262) | ||||||||
Other comprehensive income/(loss) | [3] | 241 | |||||||
Balance, July 1, 2018 | (5,657) | ||||||||
Prior Service (Costs)/Credits and Other [Member] | |||||||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||||||||
Balance, December 31, 2017 | 750 | ||||||||
Other comprehensive income/(loss) | [3] | (80) | |||||||
Balance, July 1, 2018 | $ 814 | ||||||||
ASU 2018-02 [Member] | Derivative Financial Instruments [Member] | |||||||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||||||||
Other comprehensive income/(loss) due to the adoption of new accounting standards | [2] | (1) | |||||||
ASU 2018-02 [Member] | Actuarial Gains/(Losses) [Member] | |||||||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||||||||
Other comprehensive income/(loss) due to the adoption of new accounting standards | [2] | (637) | |||||||
ASU 2018-02 [Member] | Prior Service (Costs)/Credits and Other [Member] | |||||||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||||||||
Other comprehensive income/(loss) due to the adoption of new accounting standards | [2] | 144 | |||||||
ASU 2016-01 [Member] | Foreign Currency Translation Adjustment [Member] | |||||||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||||||||
Other comprehensive income/(loss) due to the adoption of new accounting standards | [2] | (2) | |||||||
ASU 2016-01 [Member] | Available-For-Sale Securities [Member] | |||||||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||||||||
Other comprehensive income/(loss) due to the adoption of new accounting standards | [2] | $ (416) | |||||||
|
Financial Instruments - Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Millions |
Jul. 01, 2018 |
Dec. 31, 2017 |
|||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Equity securities | $ 1,332 | $ 2,150 | |||||||||
Total assets | [1] | 164,980 | 171,797 | ||||||||
Total liabilities | 1,038 | 691 | |||||||||
Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Total assets | 16,440 | 24,937 | |||||||||
Total liabilities | 1,038 | 691 | |||||||||
Short-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Equity securities | 1,332 | 2,150 | |||||||||
Available-for-sale debt securities | 8,220 | 15,362 | |||||||||
Total short-term investments | 9,553 | 17,512 | |||||||||
Other Current Assets [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Current derivative assets | 451 | 337 | |||||||||
Other Current Assets [Member] | Recurring [Member] | Interest rate contracts [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Current derivative assets | 98 | 104 | |||||||||
Other Current Assets [Member] | Recurring [Member] | Foreign exchange contracts [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Current derivative assets | 353 | 234 | |||||||||
Long-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Equity securities | [2] | 1,737 | 1,440 | ||||||||
Available-for-sale debt securities | 4,160 | 5,090 | |||||||||
Trading securities, debt | 50 | 73 | |||||||||
Trading funds and securities | 1,787 | 1,514 | |||||||||
Total long-term investments | 5,947 | 6,603 | |||||||||
Other Noncurrent Assets [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Noncurrent derivative assets | 489 | 484 | |||||||||
Other Noncurrent Assets [Member] | Recurring [Member] | Interest rate contracts [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Noncurrent derivative assets | 290 | 477 | |||||||||
Other Noncurrent Assets [Member] | Recurring [Member] | Foreign exchange contracts [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Noncurrent derivative assets | 200 | 7 | |||||||||
Other Current Liabilities [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Current derivative liabilities | 126 | 201 | |||||||||
Other Current Liabilities [Member] | Recurring [Member] | Interest rate contracts [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Current derivative liabilities | 11 | 1 | |||||||||
Other Current Liabilities [Member] | Recurring [Member] | Foreign exchange contracts [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Current derivative liabilities | 115 | 201 | |||||||||
Other Noncurrent Liabilities [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Noncurrent derivative liabilities | 912 | 490 | |||||||||
Other Noncurrent Liabilities [Member] | Recurring [Member] | Interest rate contracts [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Noncurrent derivative liabilities | 499 | 177 | |||||||||
Other Noncurrent Liabilities [Member] | Recurring [Member] | Foreign exchange contracts [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Noncurrent derivative liabilities | 413 | 313 | |||||||||
Level 1 [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Total assets | 1,773 | 1,523 | |||||||||
Total liabilities | 0 | 0 | |||||||||
Level 1 [Member] | Short-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Equity securities | 19 | 16 | |||||||||
Available-for-sale debt securities | 0 | 0 | |||||||||
Total short-term investments | 19 | 16 | |||||||||
Level 1 [Member] | Other Current Assets [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Current derivative assets | 0 | 0 | |||||||||
Level 1 [Member] | Other Current Assets [Member] | Recurring [Member] | Interest rate contracts [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Current derivative assets | 0 | 0 | |||||||||
Level 1 [Member] | Other Current Assets [Member] | Recurring [Member] | Foreign exchange contracts [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Current derivative assets | 0 | 0 | |||||||||
Level 1 [Member] | Long-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Equity securities | [2] | 1,704 | 1,398 | ||||||||
Available-for-sale debt securities | 0 | 36 | |||||||||
Trading securities, debt | 50 | 73 | |||||||||
Trading funds and securities | 1,754 | 1,472 | |||||||||
Total long-term investments | 1,754 | 1,507 | |||||||||
Level 1 [Member] | Other Noncurrent Assets [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Noncurrent derivative assets | 0 | 0 | |||||||||
Level 1 [Member] | Other Noncurrent Assets [Member] | Recurring [Member] | Interest rate contracts [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Noncurrent derivative assets | 0 | 0 | |||||||||
Level 1 [Member] | Other Noncurrent Assets [Member] | Recurring [Member] | Foreign exchange contracts [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Noncurrent derivative assets | 0 | 0 | |||||||||
Level 1 [Member] | Other Current Liabilities [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Current derivative liabilities | 0 | 0 | |||||||||
Level 1 [Member] | Other Current Liabilities [Member] | Recurring [Member] | Interest rate contracts [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Current derivative liabilities | 0 | 0 | |||||||||
Level 1 [Member] | Other Current Liabilities [Member] | Recurring [Member] | Foreign exchange contracts [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Current derivative liabilities | 0 | 0 | |||||||||
Level 1 [Member] | Other Noncurrent Liabilities [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Noncurrent derivative liabilities | 0 | 0 | |||||||||
Level 1 [Member] | Other Noncurrent Liabilities [Member] | Recurring [Member] | Interest rate contracts [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Noncurrent derivative liabilities | 0 | 0 | |||||||||
Level 1 [Member] | Other Noncurrent Liabilities [Member] | Recurring [Member] | Foreign exchange contracts [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Noncurrent derivative liabilities | 0 | 0 | |||||||||
Level 2 [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Total assets | 14,668 | 23,414 | |||||||||
Total liabilities | 1,038 | 691 | |||||||||
Level 2 [Member] | Short-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Equity securities | 1,314 | 2,134 | |||||||||
Available-for-sale debt securities | 8,220 | 15,362 | |||||||||
Total short-term investments | 9,534 | 17,496 | |||||||||
Level 2 [Member] | Other Current Assets [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Current derivative assets | 451 | 337 | |||||||||
Level 2 [Member] | Other Current Assets [Member] | Recurring [Member] | Interest rate contracts [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Current derivative assets | 98 | 104 | |||||||||
Level 2 [Member] | Other Current Assets [Member] | Recurring [Member] | Foreign exchange contracts [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Current derivative assets | 353 | 234 | |||||||||
Level 2 [Member] | Long-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Equity securities | [2] | 33 | 42 | ||||||||
Available-for-sale debt securities | 4,160 | 5,054 | |||||||||
Trading securities, debt | 0 | 0 | |||||||||
Trading funds and securities | 33 | 42 | |||||||||
Total long-term investments | 4,193 | 5,096 | |||||||||
Level 2 [Member] | Other Noncurrent Assets [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Noncurrent derivative assets | 489 | 484 | |||||||||
Level 2 [Member] | Other Noncurrent Assets [Member] | Recurring [Member] | Interest rate contracts [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Noncurrent derivative assets | 290 | 477 | |||||||||
Level 2 [Member] | Other Noncurrent Assets [Member] | Recurring [Member] | Foreign exchange contracts [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Noncurrent derivative assets | 200 | 7 | |||||||||
Level 2 [Member] | Other Current Liabilities [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Current derivative liabilities | 126 | 201 | |||||||||
Level 2 [Member] | Other Current Liabilities [Member] | Recurring [Member] | Interest rate contracts [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Current derivative liabilities | 11 | 1 | |||||||||
Level 2 [Member] | Other Current Liabilities [Member] | Recurring [Member] | Foreign exchange contracts [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Current derivative liabilities | 115 | 201 | |||||||||
Level 2 [Member] | Other Noncurrent Liabilities [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Noncurrent derivative liabilities | 912 | 490 | |||||||||
Level 2 [Member] | Other Noncurrent Liabilities [Member] | Recurring [Member] | Interest rate contracts [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Noncurrent derivative liabilities | 499 | 177 | |||||||||
Level 2 [Member] | Other Noncurrent Liabilities [Member] | Recurring [Member] | Foreign exchange contracts [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Noncurrent derivative liabilities | 413 | 313 | |||||||||
Money market funds [Member] | Short-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Equity securities | 1,302 | 2,115 | |||||||||
Money market funds [Member] | Level 1 [Member] | Short-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Equity securities | 0 | 0 | |||||||||
Money market funds [Member] | Level 2 [Member] | Short-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Equity securities | 1,302 | 2,115 | |||||||||
Equity [Member] | Short-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Equity securities | [2] | 30 | 35 | ||||||||
Equity [Member] | Level 1 [Member] | Short-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Equity securities | [2] | 19 | 16 | ||||||||
Equity [Member] | Level 2 [Member] | Short-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Equity securities | [2] | 12 | 19 | ||||||||
Government and agency - non U.S. [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Available-for-sale debt securities | 5,669 | 12,629 | |||||||||
Government and agency - non U.S. [Member] | Short-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Available-for-sale debt securities | 5,527 | 12,242 | |||||||||
Government and agency - non U.S. [Member] | Long-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Available-for-sale debt securities | 141 | 387 | |||||||||
Government and agency - non U.S. [Member] | Level 1 [Member] | Short-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Available-for-sale debt securities | 0 | 0 | |||||||||
Government and agency - non U.S. [Member] | Level 1 [Member] | Long-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Available-for-sale debt securities | 0 | 0 | |||||||||
Government and agency - non U.S. [Member] | Level 2 [Member] | Short-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Available-for-sale debt securities | 5,527 | 12,242 | |||||||||
Government and agency - non U.S. [Member] | Level 2 [Member] | Long-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Available-for-sale debt securities | 141 | 387 | |||||||||
Corporate [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Available-for-sale debt securities | [3] | 6,238 | 6,938 | ||||||||
Corporate [Member] | Short-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Available-for-sale debt securities | 2,659 | 2,766 | |||||||||
Corporate [Member] | Long-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Available-for-sale debt securities | 3,579 | 4,172 | |||||||||
Corporate [Member] | Level 1 [Member] | Short-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Available-for-sale debt securities | 0 | 0 | |||||||||
Corporate [Member] | Level 1 [Member] | Long-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Available-for-sale debt securities | 0 | 36 | |||||||||
Corporate [Member] | Level 2 [Member] | Short-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Available-for-sale debt securities | 2,659 | 2,766 | |||||||||
Corporate [Member] | Level 2 [Member] | Long-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Available-for-sale debt securities | 3,579 | 4,136 | |||||||||
Government - U.S. [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Available-for-sale debt securities | 433 | 747 | |||||||||
Government - U.S. [Member] | Short-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Available-for-sale debt securities | 8 | 252 | |||||||||
Government - U.S. [Member] | Long-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Available-for-sale debt securities | 425 | 495 | |||||||||
Government - U.S. [Member] | Level 1 [Member] | Short-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Available-for-sale debt securities | 0 | 0 | |||||||||
Government - U.S. [Member] | Level 1 [Member] | Long-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Available-for-sale debt securities | 0 | 0 | |||||||||
Government - U.S. [Member] | Level 2 [Member] | Short-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Available-for-sale debt securities | 8 | 252 | |||||||||
Government - U.S. [Member] | Level 2 [Member] | Long-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Available-for-sale debt securities | 425 | 495 | |||||||||
Agency asset-backed - U.S. [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Available-for-sale debt securities | 19 | 24 | |||||||||
Agency asset-backed - U.S. [Member] | Short-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Available-for-sale debt securities | 19 | 23 | |||||||||
Agency asset-backed - U.S. [Member] | Level 1 [Member] | Short-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Available-for-sale debt securities | 0 | 0 | |||||||||
Agency asset-backed - U.S. [Member] | Level 2 [Member] | Short-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Available-for-sale debt securities | 19 | 23 | |||||||||
Other asset-backed [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Available-for-sale debt securities | [4] | 22 | 114 | ||||||||
Other asset-backed [Member] | Short-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Available-for-sale debt securities | 7 | 79 | |||||||||
Other asset-backed [Member] | Long-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Available-for-sale debt securities | 14 | 35 | |||||||||
Other asset-backed [Member] | Level 1 [Member] | Short-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Available-for-sale debt securities | 0 | 0 | |||||||||
Other asset-backed [Member] | Level 1 [Member] | Long-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Available-for-sale debt securities | 0 | 0 | |||||||||
Other asset-backed [Member] | Level 2 [Member] | Short-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Available-for-sale debt securities | 7 | 79 | |||||||||
Other asset-backed [Member] | Level 2 [Member] | Long-term Investments [Member] | Recurring [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Available-for-sale debt securities | $ 14 | $ 35 | |||||||||
|
Financial Instruments - Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis - Footnotes (Detail) - Recurring [Member] - USD ($) $ in Millions |
Jul. 01, 2018 |
Dec. 31, 2017 |
---|---|---|
Footnotes to selected financial assets and liabilities: | ||
Short-term equity securities held in trust | $ 11 | $ 19 |
Long-term equity securities held in trust | $ 32 | $ 42 |
Financial Instruments - Financial Assets and Liabilities Not Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions |
Jul. 01, 2018 |
Dec. 31, 2017 |
---|---|---|
Carrying Value [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt, excluding the current portion | $ 28,935 | $ 33,538 |
Estimated Fair Value [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt, excluding the current portion | 30,011 | 37,253 |
Estimated Fair Value [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt, excluding the current portion | $ 30,011 | $ 37,253 |
Financial Instruments - Total Short-Term and Long-Term Investments (Details) - USD ($) $ in Millions |
Jul. 01, 2018 |
Dec. 31, 2017 |
|||
---|---|---|---|---|---|
Financial Instruments [Abstract] | |||||
Equity securities | $ 1,332 | $ 2,150 | |||
Available-for-sale debt securities | 8,220 | 15,362 | |||
Held-to-maturity debt securities | 1,174 | 1,138 | |||
Total Short-term investments | [1] | 10,727 | 18,650 | ||
Equity securities | 1,787 | 1,514 | |||
Available-for-sale debt securities | 4,160 | 5,090 | |||
Held-to-maturity debt securities | 70 | 4 | |||
Private equity investments carried at equity-method or cost | 578 | 408 | |||
Total Long-term investments | [1] | 6,595 | 7,015 | ||
Held-to-maturity cash equivalents | $ 808 | $ 719 | |||
|
Financial Instruments - Investments (Details) - USD ($) $ in Millions |
Jul. 01, 2018 |
Dec. 31, 2017 |
|||||||
---|---|---|---|---|---|---|---|---|---|
Debt Securities, Held-to-maturity, Maturity, Fair Value [Abstract] | |||||||||
Debt securities, amortized cost | $ 14,705 | $ 22,337 | |||||||
Debt securities, gross unrealized gains | 7 | 77 | |||||||
Debt securities, gross unrealized losses | (280) | (100) | |||||||
Available-for-sale securities and held-to-maturity securities | 14,432 | 22,313 | |||||||
Debt securities maturities, within 1 year, fair value | 10,202 | ||||||||
Debt securities maturities, over 1 to 5 years, fair value | 3,192 | ||||||||
Debt securities maturities, over 5 years, fair value | 1,038 | ||||||||
Available-for-sale Equity Securities [Abstract] | |||||||||
Available-for-sale equity securities, amortized cost | [1] | 2,843 | |||||||
Available-for-sale equity securities, gross unrealized gain | [1] | 586 | |||||||
Available-for-sale equity securities, gross unrealized losses | [1] | (124) | |||||||
Available-for-sale securities, equity securities | [1] | 3,304 | |||||||
Government and agency - non U.S. [Member] | |||||||||
Available-for-sale Debt Securities, Amortized Cost Basis [Abstract] (Deprecated 2018-01-31) | |||||||||
Available-for-sale debt securities, amortized cost | 5,797 | 12,616 | |||||||
Available-for-sale debt securities, gross unrealized gains | 5 | 61 | |||||||
Available-for-sale debt securities, gross unrealized losses | (133) | (48) | |||||||
Available-for-sale debt securities, fair value | 5,669 | 12,629 | |||||||
Available-for-sale Securities, Debt Maturities [Abstract] | |||||||||
Available-for-sale securities, debt maturities, within 1 year, fair value | 5,527 | ||||||||
Available-for-sale securities, debt maturities, over 1 to 5 years, fair value | 141 | ||||||||
Available-for-sale securities, debt maturities, over 5 years, fair value | 0 | ||||||||
Available-for-sale debt securities, fair value | 5,669 | 12,629 | |||||||
Debt Securities, Held-to-maturity, Maturity [Abstract] | |||||||||
Held-to-maturity securities, debt maturities, total | 570 | 770 | |||||||
Held-to-maturity securities, gross unrealized gains | 0 | 0 | |||||||
Held-to-maturity securities, gross unrealized losses | 0 | 0 | |||||||
Held-to-maturity securities, fair value | 570 | 770 | |||||||
Debt Securities, Held-to-maturity, Maturity, Fair Value [Abstract] | |||||||||
Held-to-maturity securities, debt maturities, within 1 year, fair value | 570 | ||||||||
Held-to-maturity securities, debt maturities, over 1 to 5 years, fair value | 0 | ||||||||
Held-to-maturity securities, debt maturities, over 5 years, fair value | 0 | ||||||||
Held-to-maturity securities, debt maturities, total | 570 | 770 | |||||||
Corporate [Member] | |||||||||
Available-for-sale Debt Securities, Amortized Cost Basis [Abstract] (Deprecated 2018-01-31) | |||||||||
Available-for-sale debt securities, amortized cost | [2] | 6,358 | 6,955 | ||||||
Available-for-sale debt securities, gross unrealized gains | [2] | 2 | 15 | ||||||
Available-for-sale debt securities, gross unrealized losses | [2] | (122) | (33) | ||||||
Available-for-sale debt securities, fair value | [2] | 6,238 | 6,938 | ||||||
Available-for-sale Securities, Debt Maturities [Abstract] | |||||||||
Available-for-sale securities, debt maturities, within 1 year, fair value | [2] | 2,659 | |||||||
Available-for-sale securities, debt maturities, over 1 to 5 years, fair value | [2] | 2,557 | |||||||
Available-for-sale securities, debt maturities, over 5 years, fair value | [2] | 1,022 | |||||||
Available-for-sale debt securities, fair value | [2] | 6,238 | 6,938 | ||||||
Government - U.S. [Member] | |||||||||
Available-for-sale Debt Securities, Amortized Cost Basis [Abstract] (Deprecated 2018-01-31) | |||||||||
Available-for-sale debt securities, amortized cost | 458 | 765 | |||||||
Available-for-sale debt securities, gross unrealized gains | 0 | 0 | |||||||
Available-for-sale debt securities, gross unrealized losses | (25) | (19) | |||||||
Available-for-sale debt securities, fair value | 433 | 747 | |||||||
Available-for-sale Securities, Debt Maturities [Abstract] | |||||||||
Available-for-sale securities, debt maturities, within 1 year, fair value | 8 | ||||||||
Available-for-sale securities, debt maturities, over 1 to 5 years, fair value | 415 | ||||||||
Available-for-sale securities, debt maturities, over 5 years, fair value | 10 | ||||||||
Available-for-sale debt securities, fair value | 433 | 747 | |||||||
Agency asset-backed - U.S. [Member] | |||||||||
Available-for-sale Debt Securities, Amortized Cost Basis [Abstract] (Deprecated 2018-01-31) | |||||||||
Available-for-sale debt securities, amortized cost | 19 | 24 | |||||||
Available-for-sale debt securities, gross unrealized gains | 0 | 0 | |||||||
Available-for-sale debt securities, gross unrealized losses | 0 | (1) | |||||||
Available-for-sale debt securities, fair value | 19 | 24 | |||||||
Available-for-sale Securities, Debt Maturities [Abstract] | |||||||||
Available-for-sale securities, debt maturities, within 1 year, fair value | 19 | ||||||||
Available-for-sale securities, debt maturities, over 1 to 5 years, fair value | 0 | ||||||||
Available-for-sale securities, debt maturities, over 5 years, fair value | 0 | ||||||||
Available-for-sale debt securities, fair value | 19 | 24 | |||||||
Other asset-backed [Member] | |||||||||
Available-for-sale Debt Securities, Amortized Cost Basis [Abstract] (Deprecated 2018-01-31) | |||||||||
Available-for-sale debt securities, amortized cost | [3] | 22 | 114 | ||||||
Available-for-sale debt securities, gross unrealized gains | [3] | 0 | 0 | ||||||
Available-for-sale debt securities, gross unrealized losses | [3] | 0 | 0 | ||||||
Available-for-sale debt securities, fair value | [3] | 22 | 114 | ||||||
Available-for-sale Securities, Debt Maturities [Abstract] | |||||||||
Available-for-sale securities, debt maturities, within 1 year, fair value | [3] | 7 | |||||||
Available-for-sale securities, debt maturities, over 1 to 5 years, fair value | [3] | 13 | |||||||
Available-for-sale securities, debt maturities, over 5 years, fair value | [3] | 2 | |||||||
Available-for-sale debt securities, fair value | [3] | 22 | 114 | ||||||
Time deposits and other [Member] | |||||||||
Debt Securities, Held-to-maturity, Maturity [Abstract] | |||||||||
Held-to-maturity securities, debt maturities, total | 1,482 | 1,091 | |||||||
Held-to-maturity securities, gross unrealized gains | 0 | 0 | |||||||
Held-to-maturity securities, gross unrealized losses | 0 | 0 | |||||||
Held-to-maturity securities, fair value | 1,482 | 1,091 | |||||||
Debt Securities, Held-to-maturity, Maturity, Fair Value [Abstract] | |||||||||
Held-to-maturity securities, debt maturities, within 1 year, fair value | 1,412 | ||||||||
Held-to-maturity securities, debt maturities, over 1 to 5 years, fair value | 66 | ||||||||
Held-to-maturity securities, debt maturities, over 5 years, fair value | 4 | ||||||||
Held-to-maturity securities, debt maturities, total | $ 1,482 | 1,091 | |||||||
Money market funds [Member] | |||||||||
Available-for-sale Equity Securities [Abstract] | |||||||||
Available-for-sale equity securities, amortized cost | [1] | 2,115 | |||||||
Available-for-sale equity securities, gross unrealized gain | [1] | 0 | |||||||
Available-for-sale equity securities, gross unrealized losses | [1] | 0 | |||||||
Available-for-sale securities, equity securities | [1] | 2,115 | |||||||
Equity [Member] | |||||||||
Available-for-sale Equity Securities [Abstract] | |||||||||
Available-for-sale equity securities, amortized cost | [1] | 728 | |||||||
Available-for-sale equity securities, gross unrealized gain | [1] | 586 | |||||||
Available-for-sale equity securities, gross unrealized losses | [1] | (124) | |||||||
Available-for-sale securities, equity securities | [1] | $ 1,190 | |||||||
|
Financial Instruments - Investments - Unrealized Gains and Losses Related to Equity Securities (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jul. 01, 2018 |
Jul. 01, 2018 |
|||
Financial Instruments [Abstract] | ||||
Net gains recognized during the period on equity securities | [1] | $ 232 | $ 330 | |
Less: Net gains recognized during the period on equity securities sold during the period | (19) | (31) | ||
Unrealized gains (losses) on equity securities | $ 213 | $ 299 | ||
|
Financial Instruments - Investments - Unrealized Gains and Losses Related to Equity Securities - Footnotes (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||||
---|---|---|---|---|---|---|
Jul. 01, 2018 |
Jul. 02, 2017 |
Jul. 01, 2018 |
Jul. 02, 2017 |
|||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Unrealized gains (losses) on equity securities | $ 213 | $ 299 | ||||
Financial Assets and Liabilities [Member] | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Unrealized gains (losses) on equity securities | [1] | 226 | $ 0 | 337 | $ 0 | |
Other equity securities [Member] | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Unrealized gains (losses) on equity securities | $ 7 | $ 7 | ||||
|
Financial Instruments - Short-term Borrowings (Details) - USD ($) $ in Millions |
Jul. 01, 2018 |
Dec. 31, 2017 |
|||||
---|---|---|---|---|---|---|---|
Financial Instruments [Abstract] | |||||||
Commercial paper | $ 6,800 | $ 6,100 | |||||
Current portion of long-term debt, principal amount | 4,267 | 3,532 | |||||
Other short-term borrowings, principal amount | [1] | 538 | 320 | ||||
Total short-term borrowings, principal amount | 11,605 | 9,951 | |||||
Net fair value adjustments related to hedging and purchase accounting | (4) | 14 | |||||
Net unamortized discounts, premiums and debt issuance costs | (18) | (12) | |||||
Total Short-term borrowings, including current portion of long-term debt, carried at historical proceeds, as adjusted | [2] | $ 11,583 | $ 9,953 | ||||
|
Financial Instruments - Long-Term Debt (Details) - USD ($) $ in Millions |
Jul. 01, 2018 |
Dec. 31, 2017 |
|||
---|---|---|---|---|---|
Debt Instrument [Line Items] | |||||
Net fair value adjustments related to hedging and purchase accounting | $ (4) | $ 14 | |||
Net unamortized discounts, premiums and debt issuance costs | (18) | (12) | |||
Total long-term debt, carried at historical proceeds, as adjusted | [1] | 28,935 | 33,538 | ||
Current portion of long-term debt, carried at historical proceeds | [1] | 4,262 | 3,546 | ||
Unsecured Debt [Member] | |||||
Debt Instrument [Line Items] | |||||
Total long-term debt, principal amount | 28,701 | 32,783 | |||
Net fair value adjustments related to hedging and purchase accounting | 338 | 872 | |||
Net unamortized discounts, premiums and debt issuance costs | (112) | (125) | |||
Other long-term debt | 8 | 8 | |||
Total long-term debt, carried at historical proceeds, as adjusted | 28,935 | 33,538 | |||
Current portion of long-term debt, carried at historical proceeds | $ 4,262 | $ 3,546 | |||
|
Financial Instruments - Other Noncurrent Liabilities (Detail) - USD ($) $ in Millions |
1 Months Ended | 3 Months Ended | 6 Months Ended | ||||
---|---|---|---|---|---|---|---|
Apr. 30, 2018 |
Dec. 31, 2017 |
Aug. 31, 2017 |
Jun. 30, 2017 |
Jul. 01, 2018 |
Jul. 01, 2018 |
Jun. 30, 2018 |
|
Finite-Lived Intangible Assets [Line Items] | |||||||
Finite-lived intangible assets, net | $ 36,562 | $ 34,494 | $ 34,494 | ||||
Developed Technology Rights [Member] | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Finite-lived intangible assets, net | 34,765 | 32,753 | 32,753 | ||||
Bosulif [Member] | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Aggregate amount of guaranteed fixed annual payments to be made in connection with research and development arrangement | $ 416 | ||||||
EU [Member] | Mylotarg [Member] | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Term over which fixed annual payments are to be made | 10 years | ||||||
Aggregate amount of guaranteed fixed annual payments to be made in connection with research and development arrangement | $ 301 | ||||||
EU [Member] | Mylotarg [Member] | Developed Technology Rights [Member] | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Finite-lived intangible assets, net | $ 240 | ||||||
Lump sum payment for liability buyout | $ 224 | ||||||
Non-cash gain from buyout transaction | 17 | 17 | |||||
EU [Member] | Besponsa [Member] | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Term over which fixed annual payments are to be made | 9 years | ||||||
Aggregate amount of guaranteed fixed annual payments to be made in connection with research and development arrangement | $ 148 | ||||||
EU [Member] | Besponsa [Member] | Developed Technology Rights [Member] | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Finite-lived intangible assets, net | $ 123 | 120 | 120 | ||||
EU [Member] | Besponsa [Member] | Developed Technology Rights [Member] | Other Current Liabilities [Member] | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Finite-lived intangible assets, net | 3 | 3 | |||||
EU [Member] | Besponsa [Member] | Developed Technology Rights [Member] | Other Noncurrent Liabilities [Member] | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Finite-lived intangible assets, net | 117 | 117 | |||||
U.S. [Member] | Bosulif [Member] | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Term over which fixed annual payments are to be made | 10 years | ||||||
U.S. [Member] | Bosulif [Member] | Developed Technology Rights [Member] | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Finite-lived intangible assets, net | $ 364 | 285 | 285 | ||||
U.S. [Member] | Bosulif [Member] | Developed Technology Rights [Member] | Other Current Liabilities [Member] | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Finite-lived intangible assets, net | 30 | 30 | |||||
U.S. [Member] | Bosulif [Member] | Developed Technology Rights [Member] | Other Noncurrent Liabilities [Member] | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Finite-lived intangible assets, net | 255 | 255 | |||||
U.S. [Member] | Besponsa [Member] | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Term over which fixed annual payments are to be made | 9 years | ||||||
Aggregate amount of guaranteed fixed annual payments to be made in connection with research and development arrangement | $ 296 | ||||||
U.S. [Member] | Besponsa [Member] | Developed Technology Rights [Member] | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Finite-lived intangible assets, net | $ 248 | 239 | 239 | ||||
U.S. [Member] | Besponsa [Member] | Developed Technology Rights [Member] | Other Current Liabilities [Member] | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Finite-lived intangible assets, net | 7 | 7 | |||||
U.S. [Member] | Besponsa [Member] | Developed Technology Rights [Member] | Other Noncurrent Liabilities [Member] | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Finite-lived intangible assets, net | $ 232 | $ 232 |
Financial Instruments - Fair Value of Derivative Financial Instruments and Related Notional Amounts (Details) - USD ($) $ in Millions |
Jul. 01, 2018 |
Dec. 31, 2017 |
|||
---|---|---|---|---|---|
Derivative [Line Items] | |||||
Asset | $ 940 | $ 822 | |||
Liability | 1,038 | 691 | |||
Designated as Hedging Instrument [Member] | |||||
Derivative [Line Items] | |||||
Asset | 859 | 760 | |||
Liability | 968 | 637 | |||
Designated as Hedging Instrument [Member] | Foreign exchange contracts [Member] | |||||
Derivative [Line Items] | |||||
Notional | [1] | 19,254 | 18,723 | ||
Asset | [1] | 472 | 179 | ||
Liability | [1] | 458 | 459 | ||
Designated as Hedging Instrument [Member] | Interest rate contracts [Member] | |||||
Derivative [Line Items] | |||||
Notional | 11,300 | 12,430 | |||
Asset | 387 | 581 | |||
Liability | 510 | 178 | |||
Not Designated as Hedging Instrument [Member] | Foreign exchange contracts [Member] | |||||
Derivative [Line Items] | |||||
Notional | 12,134 | 14,300 | |||
Asset | 81 | 62 | |||
Liability | 70 | $ 54 | |||
Inventory sales [Member] | Designated as Hedging Instrument [Member] | Foreign exchange contracts [Member] | |||||
Derivative [Line Items] | |||||
Notional | [1] | $ 5,100 | |||
|
Financial Instruments - Derivative Financial Instruments and Hedging Activities (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jul. 01, 2018 |
Jul. 02, 2017 |
Jul. 01, 2018 |
Jul. 02, 2017 |
||||||||||||
OID [Member] | |||||||||||||||
Derivative [Line Items] | |||||||||||||||
Amount of Gains/(Losses) Recognized in OID | [1],[2] | $ 62 | $ (9) | $ 6 | $ (151) | ||||||||||
Not Designated as Hedging Instrument [Member] | OID [Member] | Foreign exchange contracts [Member] | |||||||||||||||
Derivative [Line Items] | |||||||||||||||
Amount of Gains/(Losses) Recognized in OID | [1],[2] | 61 | (5) | 6 | (145) | ||||||||||
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | OID [Member] | Foreign exchange contracts [Member] | |||||||||||||||
Derivative [Line Items] | |||||||||||||||
Amount of Gains/(Losses) Recognized in OID | [1],[2],[3] | 0 | (4) | 0 | (6) | ||||||||||
Amount excluded from effectiveness testing recognized in earnings based on an amortization approach | [1],[2] | 0 | 0 | 0 | 0 | ||||||||||
Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | OID [Member] | Foreign exchange contracts [Member] | |||||||||||||||
Derivative [Line Items] | |||||||||||||||
Amount of Gains/(Losses) Recognized in OID | [1],[2] | 12 | (11) | 4 | (8) | ||||||||||
Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | OID [Member] | Interest rate contracts [Member] | |||||||||||||||
Derivative [Line Items] | |||||||||||||||
Amount of Gains/(Losses) Recognized in OID | [1],[2] | (121) | 100 | (520) | 8 | ||||||||||
Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | OID [Member] | Interest rate contracts, hedged item gain/(loss) [Member] | |||||||||||||||
Derivative [Line Items] | |||||||||||||||
Amount of Gains/(Losses) Recognized in OID | [1],[2] | 121 | (100) | 520 | (8) | ||||||||||
Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | OID [Member] | Foreign exchange contracts, hedged item gain (loss) [Member] | |||||||||||||||
Derivative [Line Items] | |||||||||||||||
Amount of Gains/(Losses) Recognized in OID | [1],[2] | (12) | 11 | (4) | 8 | ||||||||||
Net Investment Hedging [Member] | Designated as Hedging Instrument [Member] | OID [Member] | Foreign exchange contracts [Member] | |||||||||||||||
Derivative [Line Items] | |||||||||||||||
Amount of Gains/(Losses) Recognized in OID | [1],[2] | 0 | 0 | 0 | 0 | ||||||||||
The portion of gains/(losses) on foreign exchange contracts excluded from the assessment of hedge effectiveness | [1],[2] | 0 | 0 | 0 | 0 | ||||||||||
Net Investment Hedging, Nonderivative Instruments [Member] | OID [Member] | Foreign currency short-term borrowings [Member] | |||||||||||||||
Derivative [Line Items] | |||||||||||||||
Amount of Gains/(Losses) Recognized in OID | [1],[2],[4] | 0 | 0 | 0 | 0 | ||||||||||
Net Investment Hedging, Nonderivative Instruments [Member] | OID [Member] | Foreign currency Long-term debt [Member] | |||||||||||||||
Derivative [Line Items] | |||||||||||||||
Amount of Gains/(Losses) Recognized in OID | [1],[2],[4] | 0 | 0 | 0 | 0 | ||||||||||
Other Derivative Instruments [Member] | OID [Member] | |||||||||||||||
Derivative [Line Items] | |||||||||||||||
Amount of Gains/(Losses) Recognized in OID | [1],[2] | 0 | 0 | 0 | 0 | ||||||||||
Amount of Gains/(Losses) Recognized in OCI [Member] | |||||||||||||||
Derivative [Line Items] | |||||||||||||||
Amount of Gains/(Losses) Recognized in OCI | [2],[5] | 577 | (384) | 325 | (450) | ||||||||||
Amount of Gains/(Losses) Recognized in OCI [Member] | Not Designated as Hedging Instrument [Member] | Foreign exchange contracts [Member] | |||||||||||||||
Derivative [Line Items] | |||||||||||||||
Amount of Gains/(Losses) Recognized in OCI | [2],[5] | 0 | 0 | 0 | 0 | ||||||||||
Amount of Gains/(Losses) Recognized in OCI [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign exchange contracts [Member] | |||||||||||||||
Derivative [Line Items] | |||||||||||||||
Amount excluded from effectiveness testing recognized in earnings based on an amortization approach | [2],[5] | 20 | 0 | 48 | 0 | ||||||||||
Amount of Gains/(Losses) Recognized in OCI | [2],[3],[5] | 107 | (90) | (36) | (99) | ||||||||||
Amount of Gains/(Losses) Recognized in OCI [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign exchange contracts [Member] | |||||||||||||||
Derivative [Line Items] | |||||||||||||||
Amount of Gains/(Losses) Recognized in OCI | [2],[5] | 0 | 0 | 0 | 0 | ||||||||||
Amount of Gains/(Losses) Recognized in OCI [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Interest rate contracts [Member] | |||||||||||||||
Derivative [Line Items] | |||||||||||||||
Amount of Gains/(Losses) Recognized in OCI | [2],[5] | 0 | 0 | 0 | 0 | ||||||||||
Amount of Gains/(Losses) Recognized in OCI [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Interest rate contracts, hedged item gain/(loss) [Member] | |||||||||||||||
Derivative [Line Items] | |||||||||||||||
Amount of Gains/(Losses) Recognized in OCI | [2],[5] | 0 | 0 | 0 | 0 | ||||||||||
Amount of Gains/(Losses) Recognized in OCI [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign exchange contracts, hedged item gain (loss) [Member] | |||||||||||||||
Derivative [Line Items] | |||||||||||||||
Amount of Gains/(Losses) Recognized in OCI | [2],[5] | 0 | 0 | 0 | 0 | ||||||||||
Amount of Gains/(Losses) Recognized in OCI [Member] | Net Investment Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign exchange contracts [Member] | |||||||||||||||
Derivative [Line Items] | |||||||||||||||
The portion of gains/(losses) on foreign exchange contracts excluded from the assessment of hedge effectiveness | [2],[5] | 25 | 0 | 27 | 0 | ||||||||||
Amount of Gains/(Losses) Recognized in OCI | [2],[5] | 153 | 0 | 148 | 0 | ||||||||||
Amount of Gains/(Losses) Recognized in OCI [Member] | Net Investment Hedging, Nonderivative Instruments [Member] | Foreign currency short-term borrowings [Member] | |||||||||||||||
Derivative [Line Items] | |||||||||||||||
Amount of Gains/(Losses) Recognized in OCI | [2],[4],[5] | 85 | 0 | 43 | 0 | ||||||||||
Amount of Gains/(Losses) Recognized in OCI [Member] | Net Investment Hedging, Nonderivative Instruments [Member] | Foreign currency Long-term debt [Member] | |||||||||||||||
Derivative [Line Items] | |||||||||||||||
Amount of Gains/(Losses) Recognized in OCI | [2],[4],[5] | 186 | (295) | 94 | (352) | ||||||||||
Amount of Gains/(Losses) Recognized in OCI [Member] | Other Derivative Instruments [Member] | |||||||||||||||
Derivative [Line Items] | |||||||||||||||
Amount of Gains/(Losses) Recognized in OCI | [2],[5] | 1 | 0 | 1 | 0 | ||||||||||
Amount of Gains/(Losses) Reclassified from OCI into OID and COS [Member] | OID [Member] | |||||||||||||||
Derivative [Line Items] | |||||||||||||||
Amount of Gains/(Losses) Reclassified from OCI into OID and COS | [2],[5] | (289) | 208 | (328) | 450 | ||||||||||
Amount of Gains/(Losses) Reclassified from OCI into OID and COS [Member] | Not Designated as Hedging Instrument [Member] | OID [Member] | Foreign exchange contracts [Member] | |||||||||||||||
Derivative [Line Items] | |||||||||||||||
Amount of Gains/(Losses) Reclassified from OCI into OID and COS | [2],[5] | 0 | 0 | 0 | 0 | ||||||||||
Amount of Gains/(Losses) Reclassified from OCI into OID and COS [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | OID [Member] | Foreign exchange contracts [Member] | |||||||||||||||
Derivative [Line Items] | |||||||||||||||
Amount excluded from effectiveness testing recognized in earnings based on an amortization approach | [2],[5] | 20 | 0 | 48 | 0 | ||||||||||
Amount of Gains/(Losses) Reclassified from OCI into OID and COS | [2],[3],[5] | (330) | 208 | (402) | 449 | ||||||||||
Amount of Gains/(Losses) Reclassified from OCI into OID and COS [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | OID [Member] | Foreign exchange contracts [Member] | |||||||||||||||
Derivative [Line Items] | |||||||||||||||
Amount of Gains/(Losses) Reclassified from OCI into OID and COS | [2],[5] | 0 | 0 | 0 | 0 | ||||||||||
Amount of Gains/(Losses) Reclassified from OCI into OID and COS [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | OID [Member] | Interest rate contracts [Member] | |||||||||||||||
Derivative [Line Items] | |||||||||||||||
Amount of Gains/(Losses) Reclassified from OCI into OID and COS | [2],[5] | 0 | 0 | 0 | 0 | ||||||||||
Amount of Gains/(Losses) Reclassified from OCI into OID and COS [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | OID [Member] | Interest rate contracts, hedged item gain/(loss) [Member] | |||||||||||||||
Derivative [Line Items] | |||||||||||||||
Amount of Gains/(Losses) Reclassified from OCI into OID and COS | [2],[5] | 0 | 0 | 0 | 0 | ||||||||||
Amount of Gains/(Losses) Reclassified from OCI into OID and COS [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | OID [Member] | Foreign exchange contracts, hedged item gain (loss) [Member] | |||||||||||||||
Derivative [Line Items] | |||||||||||||||
Amount of Gains/(Losses) Reclassified from OCI into OID and COS | [2],[5] | 0 | 0 | 0 | 0 | ||||||||||
Amount of Gains/(Losses) Reclassified from OCI into OID and COS [Member] | Net Investment Hedging [Member] | Designated as Hedging Instrument [Member] | OID [Member] | Foreign exchange contracts [Member] | |||||||||||||||
Derivative [Line Items] | |||||||||||||||
The portion of gains/(losses) on foreign exchange contracts excluded from the assessment of hedge effectiveness | [2],[5] | 21 | 0 | 26 | 0 | ||||||||||
Amount of Gains/(Losses) Reclassified from OCI into OID and COS | [2],[5] | 0 | 0 | 0 | 0 | ||||||||||
Amount of Gains/(Losses) Reclassified from OCI into OID and COS [Member] | Net Investment Hedging, Nonderivative Instruments [Member] | OID [Member] | Foreign currency short-term borrowings [Member] | |||||||||||||||
Derivative [Line Items] | |||||||||||||||
Amount of Gains/(Losses) Reclassified from OCI into OID and COS | [2],[4],[5] | 0 | 0 | 0 | 0 | ||||||||||
Amount of Gains/(Losses) Reclassified from OCI into OID and COS [Member] | Net Investment Hedging, Nonderivative Instruments [Member] | OID [Member] | Foreign currency Long-term debt [Member] | |||||||||||||||
Derivative [Line Items] | |||||||||||||||
Amount of Gains/(Losses) Reclassified from OCI into OID and COS | [2],[4],[5] | 0 | 0 | 0 | 0 | ||||||||||
Amount of Gains/(Losses) Reclassified from OCI into OID and COS [Member] | Other Derivative Instruments [Member] | OID [Member] | |||||||||||||||
Derivative [Line Items] | |||||||||||||||
Amount of Gains/(Losses) Reclassified from OCI into OID and COS | [2],[5] | $ 1 | $ 0 | $ 1 | $ 0 | ||||||||||
|
Financial Instruments - Derivative Financial Instruments and Hedging Activities - Footnotes (Details) - USD ($) $ in Millions |
Jul. 01, 2018 |
Dec. 31, 2017 |
||
---|---|---|---|---|
Derivative [Line Items] | ||||
Pre-tax gain expected to be reclassified within the next 12 months | $ 55 | |||
Short-term debt | [1] | 11,583 | $ 9,953 | |
Unsecured Debt [Member] | ||||
Derivative [Line Items] | ||||
Long-term debt | 1,800 | |||
Foreign currency short-term borrowings [Member] | ||||
Derivative [Line Items] | ||||
Short-term debt | 1,500 | |||
Foreign currency Long-term debt [Member] | ||||
Derivative [Line Items] | ||||
Long-term debt | $ 3,200 | |||
|
Financial Instruments - Fair Value And Cash Flow Hedges (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||||||
---|---|---|---|---|---|---|---|---|---|
Jul. 01, 2018 |
Jul. 02, 2017 |
Jul. 01, 2018 |
Jul. 02, 2017 |
||||||
Financial Instruments [Abstract] | |||||||||
Cost of sales | [1],[2] | $ 2,916 | $ 2,660 | $ 5,479 | $ 5,128 | ||||
Other (income)/deductions––net | [1] | $ (551) | $ (75) | $ (728) | $ (14) | ||||
|
Financial Instruments - Cumulative Basis Adjustments for Fair Value Hedges (Details) $ in Millions |
Jul. 01, 2018
USD ($)
|
---|---|
Short-term investments [Member] | |
Derivative [Line Items] | |
Carrying Amount of Hedged Assets | $ 155 |
Cumulative Amount of Fair Value Hedging Adjustment Gains/(Losses) Included in the Carrying Amount of the Hedged Assets | (1) |
Long-term investments [Member] | |
Derivative [Line Items] | |
Carrying Amount of Hedged Assets | 45 |
Cumulative Amount of Fair Value Hedging Adjustment Gains/(Losses) Included in the Carrying Amount of the Hedged Assets | (1) |
Short-term borrowings, including current portion of long-term debt [Member] | |
Derivative [Line Items] | |
Carrying Amount of Hedged Liabilities | 1,487 |
Cumulative Amount of Fair Value Hedging Adjustment Gains/(Losses) Included in the Carrying Amount of the Hedged Liabilities | 11 |
Long-term debt [Member] | |
Derivative [Line Items] | |
Carrying Amount of Hedged Liabilities | 9,753 |
Cumulative Amount of Fair Value Hedging Adjustment Gains/(Losses) Included in the Carrying Amount of the Hedged Liabilities | $ 210 |
Financial Instruments - Narrative (Details) $ in Millions |
Jul. 01, 2018
USD ($)
|
---|---|
Financial Instruments [Abstract] | |
Derivatives in a net liability position | $ 413 |
Collateral posted | 483 |
Cash collateral received | $ 473 |
Financial Instruments - Credit Risk (Details) $ in Millions |
6 Months Ended |
---|---|
Jul. 01, 2018
USD ($)
| |
Bank sector [Member] | |
Concentration Risk [Line Items] | |
Maximum exposure, amount | $ 2,100 |
Technology sector [Member] | |
Concentration Risk [Line Items] | |
Maximum exposure, amount | $ 751 |
Inventories (Detail) - USD ($) $ in Millions |
Jul. 01, 2018 |
Jan. 01, 2018 |
Dec. 31, 2017 |
||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Inventory Disclosure [Abstract] | |||||||||||
Finished goods | $ 2,756 | $ 2,883 | |||||||||
Work-in-process | 4,542 | 3,908 | |||||||||
Raw materials and supplies | 776 | 788 | |||||||||
Inventories | 8,074 | [1],[2] | $ 7,567 | 7,578 | [1],[2] | ||||||
Noncurrent inventories not included above | [3] | $ 615 | $ 683 | ||||||||
|
Identifiable Intangible Assets and Goodwill - Finite-lived and Indefinite-lived Intangible Assets (Detail) - USD ($) $ in Millions |
Jul. 01, 2018 |
Dec. 31, 2017 |
|||||
---|---|---|---|---|---|---|---|
Indefinite-lived Intangible Assets [Line Items] | |||||||
Indefinite-lived intangible assets | $ 12,090 | $ 12,179 | |||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Finite-lived intangible assets, gross carrying amount | 93,665 | 93,595 | |||||
Finite-lived intangible assets, accumulated amortization | [1] | (59,171) | (57,033) | ||||
Finite-lived intangible assets, net | 34,494 | 36,562 | |||||
Intangible assets, gross carrying amount | [1] | 105,755 | 105,774 | ||||
Finite-lived intangible assets, accumulated amortization | [1] | (59,171) | (57,033) | ||||
Identifiable Intangible Assets, less Accumulated Amortization | [1],[2] | 46,584 | 48,741 | ||||
Brands [Member] | |||||||
Indefinite-lived Intangible Assets [Line Items] | |||||||
Indefinite-lived intangible assets | 6,927 | 6,929 | |||||
In Process Research and Development [Member] | |||||||
Indefinite-lived Intangible Assets [Line Items] | |||||||
Indefinite-lived intangible assets | 5,163 | 5,249 | |||||
Developed Technology Rights [Member] | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Finite-lived intangible assets, gross carrying amount | 89,582 | 89,550 | |||||
Finite-lived intangible assets, accumulated amortization | (56,829) | (54,785) | |||||
Finite-lived intangible assets, net | 32,753 | 34,765 | |||||
Finite-lived intangible assets, accumulated amortization | (56,829) | (54,785) | |||||
Brands [Member] | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Finite-lived intangible assets, gross carrying amount | 2,126 | 2,134 | |||||
Finite-lived intangible assets, accumulated amortization | (1,203) | (1,152) | |||||
Finite-lived intangible assets, net | 923 | 982 | |||||
Finite-lived intangible assets, accumulated amortization | (1,203) | (1,152) | |||||
License Agreements and Other [Member] | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Finite-lived intangible assets, gross carrying amount | 1,957 | 1,911 | |||||
Finite-lived intangible assets, accumulated amortization | (1,139) | (1,096) | |||||
Finite-lived intangible assets, net | 818 | 815 | |||||
Finite-lived intangible assets, accumulated amortization | $ (1,139) | $ (1,096) | |||||
|
Identifiable Intangible Assets and Goodwill - Finite-lived and Indefinite-lived Intangible Assets - Footnotes (Details) - USD ($) $ in Millions |
Jul. 01, 2018 |
Apr. 30, 2018 |
Dec. 31, 2017 |
---|---|---|---|
Finite-Lived Intangible Assets [Line Items] | |||
Finite-lived intangible assets, net | $ 34,494 | $ 36,562 | |
Developed Technology Rights [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-lived intangible assets, net | $ 32,753 | $ 34,765 | |
EU [Member] | Mylotarg [Member] | Developed Technology Rights [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-lived intangible assets, net | $ 240 |
Identifiable Intangible Assets and Goodwill - Finite-lived Intangible Assets Percentage of Total Intangibles (Details) |
Jul. 01, 2018 |
---|---|
Operating Segments [Member] | Developed Technology Rights [Member] | IH [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Percentage of total identifiable intangible assets, less accumulated amortization | 68.00% |
Operating Segments [Member] | Developed Technology Rights [Member] | EH [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Percentage of total identifiable intangible assets, less accumulated amortization | 32.00% |
Operating Segments [Member] | Brands [Member] | IH [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Percentage of total identifiable intangible assets, less accumulated amortization | 75.00% |
Operating Segments [Member] | Brands [Member] | EH [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Percentage of total identifiable intangible assets, less accumulated amortization | 25.00% |
Pfizer's Worldwide Research and Development [Member] | Segment Reconciling Items [Member] | Developed Technology Rights [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Percentage of total identifiable intangible assets, less accumulated amortization | 0.00% |
Pfizer's Worldwide Research and Development [Member] | Segment Reconciling Items [Member] | Brands [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Percentage of total identifiable intangible assets, less accumulated amortization | 0.00% |
Identifiable Intangible Assets and Goodwill - Indefinite-lived Intangible Assets Percentage of Total Intangibles (Details) |
Jul. 01, 2018 |
---|---|
IH [Member] | Operating Segments [Member] | Brands [Member] | |
Indefinite-lived Intangible Assets [Line Items] | |
Percentage of total identifiable intangible assets, less accumulated amortization | 71.00% |
IH [Member] | Operating Segments [Member] | In Process Research and Development [Member] | |
Indefinite-lived Intangible Assets [Line Items] | |
Percentage of total identifiable intangible assets, less accumulated amortization | 82.00% |
EH [Member] | Operating Segments [Member] | Brands [Member] | |
Indefinite-lived Intangible Assets [Line Items] | |
Percentage of total identifiable intangible assets, less accumulated amortization | 29.00% |
EH [Member] | Operating Segments [Member] | In Process Research and Development [Member] | |
Indefinite-lived Intangible Assets [Line Items] | |
Percentage of total identifiable intangible assets, less accumulated amortization | 11.00% |
Pfizer's Worldwide Research and Development [Member] | Segment Reconciling Items [Member] | Brands [Member] | |
Indefinite-lived Intangible Assets [Line Items] | |
Percentage of total identifiable intangible assets, less accumulated amortization | 0.00% |
Pfizer's Worldwide Research and Development [Member] | Segment Reconciling Items [Member] | In Process Research and Development [Member] | |
Indefinite-lived Intangible Assets [Line Items] | |
Percentage of total identifiable intangible assets, less accumulated amortization | 7.00% |
Identifiable Intangible Assets and Goodwill - Narrative (Detail) - USD ($) $ in Billions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jul. 01, 2018 |
Jul. 02, 2017 |
Jul. 01, 2018 |
Jul. 02, 2017 |
|
Finite-Lived Intangible Assets [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Amortization expense for finite-lived intangible assets | $ 1.2 | $ 1.2 | $ 2.4 | $ 2.4 |
Identifiable Intangible Assets and Goodwill - Goodwill (Detail) $ in Millions |
6 Months Ended | |||||
---|---|---|---|---|---|---|
Jul. 01, 2018
USD ($)
| ||||||
Goodwill [Roll Forward] | ||||||
Balance, December 31, 2017 | $ 55,952 | [1] | ||||
Other | (117) | [2] | ||||
Balance, April 1, 2018 | 55,836 | [1] | ||||
IH [Member] | ||||||
Goodwill [Roll Forward] | ||||||
Balance, December 31, 2017 | 31,141 | |||||
Other | (65) | [2] | ||||
Balance, April 1, 2018 | 31,076 | |||||
EH [Member] | ||||||
Goodwill [Roll Forward] | ||||||
Balance, December 31, 2017 | 24,811 | |||||
Other | (51) | [2] | ||||
Balance, April 1, 2018 | $ 24,760 | |||||
|
Pension and Postretirement Benefit Plans - Net Periodic Benefit Cost (Detail) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Jul. 01, 2018 |
Jul. 02, 2017 |
Jul. 01, 2018 |
Jul. 02, 2017 |
||||||||
Pension Plan [Member] | U.S. [Member] | Qualified [Member] | |||||||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||||||
Service cost | [1],[2],[3] | $ 0 | $ 67 | $ 0 | $ 135 | ||||||
Interest cost | [1],[3] | 150 | 159 | 301 | 321 | ||||||
Expected return on plan assets | [1],[3] | (261) | (252) | (524) | (511) | ||||||
Amortization of: | |||||||||||
Actuarial losses | [1],[2],[3] | 30 | 97 | 60 | 212 | ||||||
Prior service costs (credits) | [1],[3] | 0 | 1 | 1 | 3 | ||||||
Curtailments | [1],[3] | 7 | 4 | 9 | 9 | ||||||
Settlements | [1],[3] | 25 | (7) | 45 | 24 | ||||||
Defined benefit plan, net periodic benefit cost | [1],[3] | (49) | 69 | (107) | 193 | ||||||
Pension Plan [Member] | International [Member] | |||||||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||||||
Service cost | [2],[3] | 34 | 42 | 71 | 83 | ||||||
Interest cost | [3] | 55 | 50 | 109 | 100 | ||||||
Expected return on plan assets | [3] | (93) | (85) | (185) | (169) | ||||||
Amortization of: | |||||||||||
Actuarial losses | [2],[3] | 26 | 28 | 52 | 56 | ||||||
Prior service costs (credits) | [3] | (1) | (1) | (2) | (2) | ||||||
Curtailments | [3] | 0 | 0 | 0 | 0 | ||||||
Settlements | [3] | 0 | 2 | 0 | 3 | ||||||
Defined benefit plan, net periodic benefit cost | [3] | 21 | 37 | 44 | 71 | ||||||
Supplemental Employee Retirement Plan [Member] | U.S. [Member] | Non-Qualified [Member] | |||||||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||||||
Service cost | [2],[3] | 0 | 6 | 0 | 12 | ||||||
Interest cost | [3] | 14 | 13 | 26 | 28 | ||||||
Expected return on plan assets | [3] | 0 | 0 | 0 | 0 | ||||||
Amortization of: | |||||||||||
Actuarial losses | [2],[3] | 3 | 12 | 7 | 25 | ||||||
Prior service costs (credits) | [3] | 0 | 0 | 0 | 0 | ||||||
Curtailments | [3] | 0 | 0 | 0 | 0 | ||||||
Settlements | [3] | 5 | 4 | 21 | 24 | ||||||
Defined benefit plan, net periodic benefit cost | [3] | 21 | 35 | 55 | 88 | ||||||
Postretirement Plans [Member] | |||||||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||||||
Service cost | [2],[3] | 10 | 11 | 20 | 21 | ||||||
Interest cost | [3] | 18 | 23 | 36 | 45 | ||||||
Expected return on plan assets | [3] | (9) | (9) | (18) | (18) | ||||||
Amortization of: | |||||||||||
Actuarial losses | [2],[3] | 2 | 8 | 4 | 15 | ||||||
Prior service costs (credits) | [3] | (45) | (46) | (90) | (92) | ||||||
Curtailments | [3] | (7) | (5) | (14) | (12) | ||||||
Settlements | [3] | 0 | 0 | 0 | 0 | ||||||
Defined benefit plan, net periodic benefit cost | [3] | $ (32) | $ (19) | $ (63) | $ (40) | ||||||
|
Pension and Postretirement Benefit Plans - Net Periodic Benefit Cost - Footnotes (Details) $ in Millions |
3 Months Ended | |
---|---|---|
Jul. 02, 2017
USD ($)
|
Jan. 01, 2018
pension_plan
|
|
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Number of pension plans frozen | pension_plan | 2 | |
Hospira [Member] | Pension Plan [Member] | U.S. [Member] | Qualified Plan [Member] | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Decrease in pension benefit obligation in connection with Hospira pension plan | $ 156 | |
Pretax settlement gain | 41 | |
Net pension benefit obligation | $ 30 |
Pension and Postretirement Benefit Plans (Detail) - USD ($) $ in Millions |
1 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Feb. 28, 2018 |
Jul. 01, 2018 |
||||
Pension Plan [Member] | U.S. [Member] | Qualified [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Contributions from our general assets for the six months ended July 1, 2018 | $ 500 | $ 500 | |||
Expected contributions from our general assets during 2018 | [1] | 500 | |||
Pension Plan [Member] | International [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Contributions from our general assets for the six months ended July 1, 2018 | 84 | ||||
Expected contributions from our general assets during 2018 | [1] | 235 | |||
Supplemental Employee Retirement Plan [Member] | U.S. [Member] | Non-Qualified [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Contributions from our general assets for the six months ended July 1, 2018 | 99 | ||||
Expected contributions from our general assets during 2018 | [1] | 140 | |||
Postretirement Plans [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Contributions from our general assets for the six months ended July 1, 2018 | 71 | ||||
Expected contributions from our general assets during 2018 | [1] | $ 155 | |||
|
Earnings Per Common Share Attributable to Common Shareholders (Details) - USD ($) shares in Millions, $ in Millions |
3 Months Ended | 6 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Jul. 01, 2018 |
Jul. 02, 2017 |
Jul. 01, 2018 |
Jul. 02, 2017 |
||||||||
EPS Numerator––Basic | |||||||||||
Income from continuing operations | [1] | $ 3,879 | $ 3,077 | $ 7,450 | [2] | $ 6,207 | [2] | ||||
Less: Net income attributable to noncontrolling interests | 7 | 5 | 16 | 14 | |||||||
Income from continuing operations attributable to Pfizer Inc. | 3,872 | 3,071 | 7,434 | [2] | 6,193 | [2] | |||||
Less: Preferred stock dividends––net of tax | 0 | 0 | 1 | 0 | |||||||
Income from continuing operations attributable to Pfizer Inc. common shareholders | 3,871 | 3,071 | 7,433 | [2] | 6,192 | [2] | |||||
Discontinued operations––net of tax | [1] | 0 | 2 | (1) | 1 | ||||||
Net income attributable to Pfizer Inc. common shareholders | 3,871 | 3,073 | 7,432 | [2] | 6,194 | [2] | |||||
EPS Numerator––Diluted | |||||||||||
Income from continuing operations attributable to Pfizer Inc. common shareholders and assumed conversions | 3,872 | 3,071 | 7,434 | [2] | 6,193 | [2] | |||||
Discontinued operations––net of tax, attributable to Pfizer Inc. common shareholders and assumed conversions | 0 | 2 | (1) | 1 | |||||||
Net income attributable to Pfizer Inc. common shareholders and assumed conversions | $ 3,872 | $ 3,073 | $ 7,432 | [2] | $ 6,194 | [2] | |||||
EPS Denominator | |||||||||||
Weighted-average number of common shares outstanding––Basic | [1] | 5,866 | 5,958 | 5,911 | 5,982 | ||||||
Common-share equivalents: stock options, stock issuable under employee compensation plans, convertible preferred stock and accelerated share repurchase agreements (shares) | 86 | 80 | 93 | [2] | 83 | [2] | |||||
Weighted-average number of common shares outstanding––Diluted | [1] | 5,952 | 6,037 | 6,004 | [2] | 6,065 | [2] | ||||
Equity Option [Member] | |||||||||||
EPS Denominator | |||||||||||
Stock options that had exercise prices greater than the average market price of our common stock issuable under employee compensation plans (shares) | [2] | 3 | 47 | 2 | 47 | ||||||
|
Contingencies and Certain Commitments (Actions In Which We Are The Plaintiff) (Details) |
1 Months Ended | 3 Months Ended | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2018
Patents
|
Feb. 28, 2018
Patents
|
Jan. 31, 2018
Patents
|
Dec. 31, 2017
Patents
|
Oct. 31, 2017
Patents
|
Sep. 30, 2017
Patents
|
Jul. 31, 2017
Patents
|
Mar. 31, 2017
Patents
|
Feb. 28, 2017
Patents
|
Aug. 31, 2016
Patents
|
Jul. 31, 2016
Patents
|
Jan. 31, 2016
Patents
|
Dec. 31, 2015
Patents
|
Jun. 30, 2015
Patents
|
Apr. 30, 2017
Patents
Defendant
|
|
Precedex Premix [Member] | Hospira Versus Amneal Pharmaceuticals LLC [Member] | Pending Litigation [Member] | |||||||||||||||
Gain Contingencies [Line Items] | |||||||||||||||
Number of patents not infringed upon | 4 | ||||||||||||||
Precedex Premix [Member] | Hospira Versus Amneal Pharmaceuticals LLC [Member] | Settled Litigation [Member] | |||||||||||||||
Gain Contingencies [Line Items] | |||||||||||||||
Number of patents infringed upon | 1 | ||||||||||||||
Number of patents not infringed upon | 3 | ||||||||||||||
Precedex Premix [Member] | Hospira Versus Fresenius [Member] | Pending Litigation [Member] | |||||||||||||||
Gain Contingencies [Line Items] | |||||||||||||||
Number of patents not infringed upon | 4 | ||||||||||||||
Precedex Premix [Member] | Hospira Versus Par [Member] | Pending Litigation [Member] | |||||||||||||||
Gain Contingencies [Line Items] | |||||||||||||||
Number of patents not infringed upon | 4 | ||||||||||||||
Precedex Premix [Member] | Hospira Versus Gland [Member] | Pending Litigation [Member] | |||||||||||||||
Gain Contingencies [Line Items] | |||||||||||||||
Number of patents not infringed upon | 6 | ||||||||||||||
Number of patents allegedly infringed upon | 4 | ||||||||||||||
Precedex Premix [Member] | Hospira Versus Hengrui [Member] | Pending Litigation [Member] | |||||||||||||||
Gain Contingencies [Line Items] | |||||||||||||||
Number of patents not infringed upon | 6 | ||||||||||||||
Number of patents allegedly infringed upon | 4 | ||||||||||||||
Precedex Premix [Member] | Hospira Versus Baxter [Member] | Pending Litigation [Member] | |||||||||||||||
Gain Contingencies [Line Items] | |||||||||||||||
Number of patents not infringed upon | 4 | ||||||||||||||
Number of patents due to expire in 2019 | 1 | ||||||||||||||
Number of patents due to expire in 2032 | 3 | ||||||||||||||
Patent Infringement [Member] | Judicial Ruling [Member] | |||||||||||||||
Gain Contingencies [Line Items] | |||||||||||||||
Number of patents infringed upon | 1 | ||||||||||||||
Patent Infringement [Member] | Bosulif [Member] | Wyeth Versus Sun [Member] | Pending Litigation [Member] | |||||||||||||||
Gain Contingencies [Line Items] | |||||||||||||||
Number of patents allegedly infringed upon | 2 | ||||||||||||||
Patent Infringement [Member] | Xeljanz [Member] | Pfizer Versus MicroLabs [Member] | Pending Litigation [Member] | |||||||||||||||
Gain Contingencies [Line Items] | |||||||||||||||
Number of patents allegedly infringed upon | 3 | ||||||||||||||
Patent Infringement [Member] | Xeljanz [Member] | Pfizer Versus Zydus [Member] | Pending Litigation [Member] | |||||||||||||||
Gain Contingencies [Line Items] | |||||||||||||||
Number of patents allegedly infringed upon | 3 | ||||||||||||||
Patent Infringement [Member] | Xeljanz [Member] | Pfizer Versus Prinston and Breckenridge [Member] | Pending Litigation [Member] | |||||||||||||||
Gain Contingencies [Line Items] | |||||||||||||||
Number of patents allegedly infringed upon | 2 | ||||||||||||||
Patent Infringement [Member] | Xeljanz [Member] | Pfizer Versus Breckenridge [Member] | Pending Litigation [Member] | |||||||||||||||
Gain Contingencies [Line Items] | |||||||||||||||
Number of patents allegedly infringed upon | 4 | ||||||||||||||
Number of patents due to expire in December 2020 | 3 | ||||||||||||||
Number or patents due to expire in December 2025 | 1 | ||||||||||||||
Patent Infringement [Member] | Toviaz [Member] | Pfizer Versus Mylan Laboratories Limited [Member] | Judicial Ruling [Member] | |||||||||||||||
Gain Contingencies [Line Items] | |||||||||||||||
Number of patents not infringed upon | 5 | ||||||||||||||
Patent Infringement [Member] | Toviaz [Member] | Pfizer Versus Mylan Laboratories Limited [Member] | Pending Litigation [Member] | |||||||||||||||
Gain Contingencies [Line Items] | |||||||||||||||
Number of patents allegedly infringed upon | 5 | 5 | |||||||||||||
Patent Infringement [Member] | Toviaz Composition-of-matter Patents [Member] | Pfizer Versus Mylan Laboratories Limited [Member] | Pending Litigation [Member] | |||||||||||||||
Gain Contingencies [Line Items] | |||||||||||||||
Number of patents infringed upon | 3 | ||||||||||||||
Patent Infringement [Member] | Eliquis [Member] | Pfizer and BMS Versus Several Generic Manufacturers [Member] | Pending Litigation [Member] | |||||||||||||||
Gain Contingencies [Line Items] | |||||||||||||||
Number of patents allegedly infringed upon | 3 | ||||||||||||||
Number of defendants | Defendant | 25 |
Contingencies and Certain Commitments (Actions In Which We Are The Defendant) (Detail) $ in Thousands, £ in Millions |
1 Months Ended | ||||||
---|---|---|---|---|---|---|---|
May 31, 2018
USD ($)
|
Nov. 30, 2017
USD ($)
|
Jul. 31, 2017
Patents
|
Mar. 31, 2015
Patents
|
Mar. 31, 2013
lagoon
|
Jul. 01, 2018
Claim
|
Dec. 31, 2016
GBP (£)
|
|
Inflectra [Member] | Janssen and New York University Versus Hospira, Celltrion Healthcare and Celltrion Inc. [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Number of patents allegedly infringed upon | 6 | ||||||
Inflectra [Member] | Janssen and New York University Versus Hospira, Celltrion Healthcare and Celltrion Inc. [Member] | Settled Litigation [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Claims dismissed | 4 | ||||||
Inflectra [Member] | Janssen and New York University Versus Hospira, Celltrion Healthcare and Celltrion Inc. [Member] | Pending Litigation [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Number of patents allegedly infringed upon | 2 | ||||||
Celebrex [Member] | Pending Litigation [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Amount awarded to other party | $ | $ 94,000 | ||||||
Patent Infringement [Member] | Bavencio [Member] | Pfizer Versus BMS, E.R. Squibb & Sons, Ono Pharmaceutical and Tasuku Honjo [Member] | Pending Litigation [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Number of patents allegedly infringed upon | 1 | ||||||
Damages from Product Defects [Member] | Class Action Versus American Optical Corporation And Various Other Defendants [Member] | Pending Litigation [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Number of pending claims | Claim | 56,760 | ||||||
Average Wholesale Price [Member] | State of Illinois Versus Pfizer [Member] | Pending Litigation [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Number of pending claims | Claim | 1 | ||||||
Environmental Remediation Litigation [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Number of lagoons | lagoon | 2 | ||||||
Violation of Antitrust Laws [Member] | Phenytoin Sodium Capsules [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Imposed fine | £ | £ 84.2 | ||||||
Copayment Assistance Organizations [Member] | Pfizer Versus United States District Of Massachusetts [Member] | Settled Litigation [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Amount awarded to other party | $ | $ 23,850 | ||||||
Term of Corporate Integrity Agreement | 5 years |
Contingencies and Certain Commitments (Details) - USD ($) $ / shares in Units, shares in Millions |
Mar. 14, 2018 |
Mar. 12, 2018 |
Jul. 01, 2018 |
Apr. 30, 2018 |
---|---|---|---|---|
Commitments and Contingencies Disclosure [Abstract] | ||||
Share repurchase agreement, amount | $ 4,000,000,000 | |||
Accelerated share repurchases, cash paid | $ 4,000,000,000 | |||
Shares repurchased | 87 | |||
Shares repurchased, price per share (in dollars per share) | $ 36.61 | |||
Shares received in initial delivery, percentage of agreement amount | 80.00% | |||
Remaining authorized repurchase amount | $ 10,300,000,000 | |||
Office Building In Hudson Yards Neighborhood Of New York City [Member] | ||||
Property Subject to or Available for Operating Lease [Line Items] | ||||
Term of corporate headquarters lease agreement | 20 years | |||
Future minimum commitment for corporate headquarters lease | $ 1,700,000,000 |
Segment, Geographic and Other Revenue Information - Narrative (Detail) $ in Millions |
3 Months Ended | 6 Months Ended | ||||
---|---|---|---|---|---|---|
Jul. 02, 2017
USD ($)
|
Jul. 01, 2018
USD ($)
Operating_Segment
|
Jul. 02, 2017
USD ($)
|
Dec. 31, 2017
USD ($)
|
|||
Segment Reporting Information [Line Items] | ||||||
Number of business segments | Operating_Segment | 2 | |||||
Assets | [1] | $ 164,980 | $ 171,797 | |||
Adjustment [Member] | Corporate [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Costs | $ (12) | $ (21) | ||||
Adjustment [Member] | IH [Member] | Operating Segments [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Costs | (120) | (218) | ||||
Adjustment [Member] | EH [Member] | Operating Segments [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Costs | $ (45) | $ (78) | ||||
|
Segment, Geographic and Other Revenue Information (Detail) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jul. 01, 2018 |
Jul. 02, 2017 |
Jul. 01, 2018 |
Jul. 02, 2017 |
||||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||||||
Revenues | [1] | $ 13,466 | $ 12,896 | $ 26,373 | $ 25,675 | ||||||||||||
Earnings | [1],[2] | 4,527 | 3,815 | 8,654 | 7,767 | ||||||||||||
Operating Segments [Member] | |||||||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||||||
Revenues | 13,466 | 12,896 | 26,373 | 25,675 | |||||||||||||
Earnings | [2] | 7,918 | 7,619 | 15,636 | 15,405 | ||||||||||||
Segment Reconciling Items [Member] | |||||||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||||||
Earnings | [2],[3],[4] | (669) | (758) | (1,394) | (1,445) | ||||||||||||
Segment Reconciling Items [Member] | Purchase Accounting Adjustments [Member] | |||||||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||||||
Earnings | [2],[3] | (1,134) | (1,201) | (2,355) | (2,373) | ||||||||||||
Segment Reconciling Items [Member] | Acquisition-Related Costs [Member] | |||||||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||||||
Earnings | [2],[3] | (62) | (68) | (110) | (192) | ||||||||||||
Segment Reconciling Items [Member] | Certain Significant Items [Member] | |||||||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||||||
Earnings | [2],[5] | (20) | (191) | (221) | (348) | ||||||||||||
Segment Reconciling Items [Member] | Other Unallocated [Member] | |||||||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||||||
Earnings | [2],[3],[6] | (362) | (377) | (607) | (736) | ||||||||||||
Corporate [Member] | |||||||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||||||
Earnings | [2],[3],[6] | (1,144) | (1,209) | (2,296) | (2,545) | ||||||||||||
IH [Member] | Operating Segments [Member] | |||||||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||||||
Revenues | [6] | 8,273 | 7,671 | 16,102 | 15,086 | ||||||||||||
Earnings | [2],[6] | 5,100 | 4,786 | 10,031 | 9,534 | ||||||||||||
EH [Member] | Operating Segments [Member] | |||||||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||||||
Revenues | [6] | 5,193 | 5,226 | 10,271 | 10,590 | ||||||||||||
Earnings | [2],[6] | $ 2,818 | $ 2,832 | $ 5,606 | $ 5,871 | ||||||||||||
|
Segment, Geographic and Other Revenue Information - Footnotes (Detail) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jul. 01, 2018 |
Jul. 02, 2017 |
Jul. 01, 2018 |
Jul. 02, 2017 |
||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||||
Income (charges) for certain legal matters | [1] | $ 88 | $ (3) | $ 107 | $ (11) | ||||||||||
Gain (loss) on sale of HIS net assets | [2] | 2 | (28) | (1) | [3] | (64) | [3] | ||||||||
Business and legal entity alignment costs | [4] | 1 | 17 | 4 | 38 | ||||||||||
Segment Reconciling Items [Member] | |||||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||||
Cost reduction and productivity initiatives excluding acquisition related costs | 42 | 49 | 93 | 79 | |||||||||||
Income (charges) for certain legal matters | 107 | (8) | |||||||||||||
Asset impairment charges | 31 | 31 | |||||||||||||
Business and legal entity alignment costs | 1 | 17 | 4 | 38 | |||||||||||
Other charges | 37 | 97 | 199 | 158 | |||||||||||
Special one-time bonus paid to all non-executive Pfizer colleagues | 119 | ||||||||||||||
HIS [Member] | Segment Reconciling Items [Member] | |||||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||||
Gain (loss) on sale of HIS net assets | 2 | (28) | (1) | (64) | |||||||||||
ViiV Healthcare Limited [Member] | IH [Member] | Operating Segments [Member] | |||||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||||
Dividend income | $ 76 | 114 | $ 135 | 157 | |||||||||||
Adjustment [Member] | Corporate [Member] | |||||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||||
Costs and expenses | (12) | (21) | |||||||||||||
Adjustment [Member] | IH [Member] | Operating Segments [Member] | |||||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||||
Costs and expenses | (120) | (218) | |||||||||||||
Adjustment [Member] | EH [Member] | Operating Segments [Member] | |||||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||||
Costs and expenses | $ (45) | $ (78) | |||||||||||||
|
Segment, Geographic and Other Revenue Information - Revenues By Geographic Area (Detail) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jul. 01, 2018 |
Jul. 02, 2017 |
Jul. 01, 2018 |
Jul. 02, 2017 |
||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||||
Revenues | [1] | $ 13,466 | $ 12,896 | $ 26,373 | $ 25,675 | ||||||||
Percentage Change In Revenue | 4.00% | 3.00% | |||||||||||
U.S. [Member] | |||||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||||
Revenues | $ 6,225 | 6,345 | $ 12,500 | 12,982 | |||||||||
Percentage Change In Revenue | (2.00%) | (4.00%) | |||||||||||
Developed Europe [Member] | |||||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||||
Revenues | [2] | $ 2,334 | 2,124 | $ 4,426 | 4,145 | ||||||||
Percentage Change In Revenue | [2] | 10.00% | 7.00% | ||||||||||
Developed Rest Of World [Member] | |||||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||||
Revenues | [3] | $ 1,694 | 1,611 | $ 3,155 | 3,165 | ||||||||
Percentage Change In Revenue | [3] | 5.00% | |||||||||||
Emerging Markets [Member] | |||||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||||
Revenues | [4] | $ 3,214 | $ 2,815 | $ 6,292 | $ 5,382 | ||||||||
Percentage Change In Revenue | [4] | 14.00% | 17.00% | ||||||||||
|
Segment, Geographic and Other Revenue Information - Revenues By Geographic Area - Footnotes (Detail) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||||||
---|---|---|---|---|---|---|---|---|---|
Jul. 01, 2018 |
Jul. 02, 2017 |
Jul. 01, 2018 |
Jul. 02, 2017 |
||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||
Revenues | [1] | $ 13,466 | $ 12,896 | $ 26,373 | $ 25,675 | ||||
Developed Europe [Member] | |||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||
Revenues | [2] | 2,334 | 2,124 | 4,426 | 4,145 | ||||
Euro Member Countries, Euro [Member] | Developed Europe [Member] | |||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||
Revenues | $ 1,900 | $ 1,700 | $ 3,600 | $ 3,300 | |||||
|
Segment, Geographic and Other Revenue Information - Revenues By Products (Detail) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jul. 01, 2018 |
Jul. 02, 2017 |
Jul. 01, 2018 |
Jul. 02, 2017 |
||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | [1] | $ 13,466 | $ 12,896 | $ 26,373 | $ 25,675 | ||||||||||||||||||||||
Innovative Health and Essential Health [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 13,466 | 12,896 | 26,373 | 25,675 | |||||||||||||||||||||||
Innovative Health and Essential Health [Member] | Lyrica [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | [2] | 1,223 | 1,254 | 2,436 | 2,526 | ||||||||||||||||||||||
Innovative Health and Essential Health [Member] | Viagra [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | [3] | 185 | 349 | 372 | 687 | ||||||||||||||||||||||
Innovative Health and Essential Health [Member] | Alliance revenues [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 987 | 715 | 1,842 | 1,370 | |||||||||||||||||||||||
Innovative Health Business [Member] | IH [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | [4] | 8,273 | 7,671 | 16,102 | 15,086 | ||||||||||||||||||||||
Essential Health Business [Member] | EH [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | [5] | 5,193 | 5,226 | 10,271 | 10,590 | ||||||||||||||||||||||
Legacy Established Products (LEP) [Member] | Essential Health Business [Member] | EH [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | [6] | 2,695 | 2,707 | 5,331 | 5,313 | ||||||||||||||||||||||
Legacy Established Products (LEP) [Member] | Essential Health Business [Member] | EH [Member] | Lipitor [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 521 | 445 | 1,032 | 849 | |||||||||||||||||||||||
Legacy Established Products (LEP) [Member] | Essential Health Business [Member] | EH [Member] | Norvasc [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 271 | 231 | 526 | 458 | |||||||||||||||||||||||
Legacy Established Products (LEP) [Member] | Essential Health Business [Member] | EH [Member] | Premarin family [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 210 | 245 | 401 | 473 | |||||||||||||||||||||||
Legacy Established Products (LEP) [Member] | Essential Health Business [Member] | EH [Member] | Zithromax [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 72 | 62 | 162 | 140 | |||||||||||||||||||||||
Legacy Established Products (LEP) [Member] | Essential Health Business [Member] | EH [Member] | Xalatan/Xalacom [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 85 | 81 | 157 | 158 | |||||||||||||||||||||||
Legacy Established Products (LEP) [Member] | Essential Health Business [Member] | EH [Member] | Zoloft [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 77 | 69 | 151 | 137 | |||||||||||||||||||||||
Legacy Established Products (LEP) [Member] | Essential Health Business [Member] | EH [Member] | Effexor [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 79 | 73 | 150 | 139 | |||||||||||||||||||||||
Legacy Established Products (LEP) [Member] | Essential Health Business [Member] | EH [Member] | EpiPen [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 95 | 90 | 148 | 171 | |||||||||||||||||||||||
Legacy Established Products (LEP) [Member] | Essential Health Business [Member] | EH [Member] | Xanax [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 56 | 52 | 111 | 107 | |||||||||||||||||||||||
Legacy Established Products (LEP) [Member] | Essential Health Business [Member] | EH [Member] | Sildenafil Citrate [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 8 | 0 | 71 | 0 | |||||||||||||||||||||||
Legacy Established Products (LEP) [Member] | Essential Health Business [Member] | EH [Member] | Other Legacy Established Products [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 1,220 | 1,360 | 2,424 | 2,681 | |||||||||||||||||||||||
Sterile Injectable Pharmaceuticals [Member] | Essential Health Business [Member] | EH [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | [7] | 1,329 | 1,444 | 2,688 | 2,996 | ||||||||||||||||||||||
Sterile Injectable Pharmaceuticals [Member] | Essential Health Business [Member] | EH [Member] | Sulperazon [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 150 | 110 | 319 | 232 | |||||||||||||||||||||||
Sterile Injectable Pharmaceuticals [Member] | Essential Health Business [Member] | EH [Member] | Medrol [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 104 | 123 | 223 | 243 | |||||||||||||||||||||||
Sterile Injectable Pharmaceuticals [Member] | Essential Health Business [Member] | EH [Member] | Fragmin [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 74 | 71 | 145 | 142 | |||||||||||||||||||||||
Sterile Injectable Pharmaceuticals [Member] | Essential Health Business [Member] | EH [Member] | Tygacil [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 63 | 57 | 126 | 131 | |||||||||||||||||||||||
Sterile Injectable Pharmaceuticals [Member] | Essential Health Business [Member] | EH [Member] | Tazosyn / Zosyn [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 58 | 40 | 119 | 78 | |||||||||||||||||||||||
Sterile Injectable Pharmaceuticals [Member] | Essential Health Business [Member] | EH [Member] | Precedex [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 64 | 67 | 119 | 132 | |||||||||||||||||||||||
Sterile Injectable Pharmaceuticals [Member] | Essential Health Business [Member] | EH [Member] | All Other Sterile Injectable Pharmaceuticals [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 815 | 975 | 1,638 | 2,038 | |||||||||||||||||||||||
Peri-LOE Products [Member] | Essential Health Business [Member] | EH [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | [8] | 773 | 782 | 1,509 | 1,604 | ||||||||||||||||||||||
Peri-LOE Products [Member] | Essential Health Business [Member] | EH [Member] | Lyrica [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | [2] | 88 | 154 | 170 | 294 | ||||||||||||||||||||||
Peri-LOE Products [Member] | Essential Health Business [Member] | EH [Member] | Viagra [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | [3] | 185 | 93 | 372 | 183 | ||||||||||||||||||||||
Peri-LOE Products [Member] | Essential Health Business [Member] | EH [Member] | Celebrex [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 161 | 178 | 306 | 353 | |||||||||||||||||||||||
Peri-LOE Products [Member] | Essential Health Business [Member] | EH [Member] | Vfend [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 110 | 101 | 207 | 208 | |||||||||||||||||||||||
Peri-LOE Products [Member] | Essential Health Business [Member] | EH [Member] | Zyvox [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 66 | 75 | 134 | 152 | |||||||||||||||||||||||
Peri-LOE Products [Member] | Essential Health Business [Member] | EH [Member] | Revatio [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 54 | 67 | 109 | 131 | |||||||||||||||||||||||
Peri-LOE Products [Member] | Essential Health Business [Member] | EH [Member] | Pristiq [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 51 | 46 | 104 | 161 | |||||||||||||||||||||||
Peri-LOE Products [Member] | Essential Health Business [Member] | EH [Member] | All Other Peri-LOE Products [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 59 | 68 | 107 | 121 | |||||||||||||||||||||||
Biosimilars [Member] | Essential Health Business [Member] | EH [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | [9] | 188 | 121 | 361 | 226 | ||||||||||||||||||||||
Biosimilars [Member] | Essential Health Business [Member] | EH [Member] | Inflectra/Remsima [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 158 | 94 | 303 | 172 | |||||||||||||||||||||||
Biosimilars [Member] | Essential Health Business [Member] | EH [Member] | All Other Biosimilars [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 29 | 27 | 58 | 54 | |||||||||||||||||||||||
CentreOne [Member] | Essential Health Business [Member] | EH [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | [10] | 209 | 171 | 381 | 353 | ||||||||||||||||||||||
Hospira Infusion Systems (HIS) [Member] | Essential Health Business [Member] | EH [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | [11] | 0 | 0 | 0 | 97 | ||||||||||||||||||||||
Internal Medicine [Member] | Innovative Health Business [Member] | IH [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 2,530 | 2,412 | 4,876 | 4,789 | |||||||||||||||||||||||
Internal Medicine [Member] | Innovative Health Business [Member] | IH [Member] | Lyrica [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | [2] | 1,134 | 1,101 | 2,266 | 2,231 | ||||||||||||||||||||||
Internal Medicine [Member] | Innovative Health Business [Member] | IH [Member] | Eliquis [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 889 | 605 | 1,654 | 1,169 | |||||||||||||||||||||||
Internal Medicine [Member] | Innovative Health Business [Member] | IH [Member] | Chantix / Champix [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 277 | 248 | 528 | 487 | |||||||||||||||||||||||
Internal Medicine [Member] | Innovative Health Business [Member] | IH [Member] | B M P 2 [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 80 | 57 | 153 | 119 | |||||||||||||||||||||||
Internal Medicine [Member] | Innovative Health Business [Member] | IH [Member] | Toviaz [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 70 | 62 | 130 | 125 | |||||||||||||||||||||||
Internal Medicine [Member] | Innovative Health Business [Member] | IH [Member] | Viagra [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | [3] | 0 | 255 | 0 | 505 | ||||||||||||||||||||||
Internal Medicine [Member] | Innovative Health Business [Member] | IH [Member] | All Other Internal Medicine [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 79 | 84 | 145 | 153 | |||||||||||||||||||||||
Vaccines [Member] | Innovative Health Business [Member] | IH [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 1,400 | 1,270 | 2,863 | 2,735 | |||||||||||||||||||||||
Vaccines [Member] | Innovative Health Business [Member] | IH [Member] | Prevnar 13/Prevenar 13 [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 1,250 | 1,154 | 2,631 | 2,547 | |||||||||||||||||||||||
Vaccines [Member] | Innovative Health Business [Member] | IH [Member] | FSME-IMMUN/TicoVac [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 73 | 50 | 105 | 76 | |||||||||||||||||||||||
Vaccines [Member] | Innovative Health Business [Member] | IH [Member] | All other Vaccines [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 77 | 66 | 127 | 112 | |||||||||||||||||||||||
Oncology [Member] | Innovative Health Business [Member] | IH [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 1,822 | 1,589 | 3,519 | 2,935 | |||||||||||||||||||||||
Oncology [Member] | Innovative Health Business [Member] | IH [Member] | Ibrance [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 1,027 | 853 | 1,960 | 1,532 | |||||||||||||||||||||||
Oncology [Member] | Innovative Health Business [Member] | IH [Member] | Sutent [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 275 | 279 | 537 | 529 | |||||||||||||||||||||||
Oncology [Member] | Innovative Health Business [Member] | IH [Member] | Xtandi Alliance [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 171 | 141 | 330 | 272 | |||||||||||||||||||||||
Oncology [Member] | Innovative Health Business [Member] | IH [Member] | Xalkori [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 137 | 155 | 290 | 296 | |||||||||||||||||||||||
Oncology [Member] | Innovative Health Business [Member] | IH [Member] | Inlyta [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 81 | 88 | 155 | 172 | |||||||||||||||||||||||
Oncology [Member] | Innovative Health Business [Member] | IH [Member] | Bosulif [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 77 | 59 | 138 | 106 | |||||||||||||||||||||||
Oncology [Member] | Innovative Health Business [Member] | IH [Member] | All other Oncology [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 53 | 14 | 109 | 28 | |||||||||||||||||||||||
Inflammation and Immunology (I&I) [Member] | Innovative Health Business [Member] | IH [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 1,064 | 992 | 1,933 | 1,863 | |||||||||||||||||||||||
Inflammation and Immunology (I&I) [Member] | Innovative Health Business [Member] | IH [Member] | Enbrel (Outside the U.S. and Canada) [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 551 | 617 | 1,057 | 1,205 | |||||||||||||||||||||||
Inflammation and Immunology (I&I) [Member] | Innovative Health Business [Member] | IH [Member] | Xeljanz [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 463 | 336 | 788 | 587 | |||||||||||||||||||||||
Inflammation and Immunology (I&I) [Member] | Innovative Health Business [Member] | IH [Member] | Eucrisa [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 39 | 9 | 65 | 17 | |||||||||||||||||||||||
Inflammation and Immunology (I&I) [Member] | Innovative Health Business [Member] | IH [Member] | All Other Inflammation and Immunology Products [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 11 | 31 | 22 | 54 | |||||||||||||||||||||||
Rare Disease [Member] | Innovative Health Business [Member] | IH [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 571 | 562 | 1,120 | 1,069 | |||||||||||||||||||||||
Rare Disease [Member] | Innovative Health Business [Member] | IH [Member] | BeneFIX [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 141 | 153 | 288 | 302 | |||||||||||||||||||||||
Rare Disease [Member] | Innovative Health Business [Member] | IH [Member] | Genotropin [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 140 | 135 | 272 | 238 | |||||||||||||||||||||||
Rare Disease [Member] | Innovative Health Business [Member] | IH [Member] | ReFacto AF/ Xyntha [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 141 | 139 | 271 | 269 | |||||||||||||||||||||||
Rare Disease [Member] | Innovative Health Business [Member] | IH [Member] | Somavert [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 68 | 61 | 131 | 117 | |||||||||||||||||||||||
Rare Disease [Member] | Innovative Health Business [Member] | IH [Member] | All Other Rare Disease [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | 81 | 74 | 157 | 141 | |||||||||||||||||||||||
Consumer Healthcare [Member] | Innovative Health Business [Member] | IH [Member] | |||||||||||||||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||||||||||||||
Revenues | $ 886 | $ 846 | $ 1,791 | $ 1,694 | |||||||||||||||||||||||
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