CONSOLIDATED STATEMENTS OF EARNINGS (UNAUDITED) - USD ($) $ in Millions |
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Mar. 31, 2021 |
Mar. 31, 2020 |
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Total Revenues | $ 11,073 | $ 10,781 | ||
Cost of products sold | [1] | 2,841 | 3,662 | |
Marketing, selling and administrative | 1,666 | 1,606 | ||
Research and development | 2,225 | 2,372 | ||
Amortization of acquired intangible assets | 2,513 | 2,282 | ||
Other (income)/expense, net | (702) | 1,163 | ||
Total Expenses | 8,543 | 11,085 | ||
Earnings Before Income Taxes | 2,530 | (304) | ||
Provision for Income Taxes | 501 | 462 | ||
Net Earnings | 2,029 | (766) | ||
Noncontrolling Interest | 8 | 9 | ||
Net (Loss)/Earnings Attributable to BMS | $ 2,021 | $ (775) | ||
Earnings Per Share, Basic | $ 0.90 | $ (0.34) | ||
Earnings Per Share, Diluted | $ 0.89 | $ (0.34) | ||
Net product sales [Member] | ||||
Total Revenues | $ 10,798 | $ 10,541 | ||
Alliance and other revenues [Member] | ||||
Total Revenues | $ 275 | $ 240 | ||
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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Millions |
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Mar. 31, 2021 |
Mar. 31, 2020 |
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Statement of Comprehensive Income [Abstract] | ||
Net Earnings | $ 2,029 | $ (766) |
Derivatives qualifying as cash flow hedges | 280 | 70 |
Pension and postretirement benefits | 23 | 16 |
Other Comprehensive Income (Loss), Securities, Available-for-sale, Adjustment, after Tax | (2) | 1 |
Foreign currency translation | (6) | (116) |
Other Comprehensive (Loss)/Income | 295 | (29) |
Comprehensive Income | 2,324 | (795) |
Comprehensive Income Attributable to Noncontrolling Interest | 8 | 9 |
Comprehensive Income Attributable to BMS | $ 2,316 | $ (804) |
BASIS OF PRESENTATION AND RECENTLY ISSUED ACCOUNTING STANDARDS (Notes) |
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BASIS OF PRESENTATION AND RECENTLY ISSUED ACCOUNTING STANDARDS [Abstract] | |
Basis of Presentation and Recently Issued Accounting Standards [Text Block] | Basis of Consolidation Bristol-Myers Squibb Company prepared these unaudited consolidated financial statements following the requirements of the SEC and U.S. GAAP for interim reporting. Under those rules, certain footnotes and other financial information that are normally required for annual financial statements can be condensed or omitted. The Company is responsible for the consolidated financial statements included in this Quarterly Report on Form 10-Q, which include all adjustments necessary for a fair presentation of the financial position at March 31, 2021 and December 31, 2020, the results of operations and cash flows for the three months ended March 31, 2021 and 2020. All intercompany balances and transactions have been eliminated. These financial statements and the related notes should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2020 included in the 2020 Form 10-K. Refer to the Summary of Abbreviated Terms at the end of this Quarterly Report on Form 10-Q for terms used throughout the document. Business Segment Information BMS operates in a single segment engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of innovative medicines that help patients prevail over serious diseases. A global research and development organization and supply chain organization are responsible for the discovery, development, manufacturing and supply of products. Regional commercial organizations market, distribute and sell the products. The business is also supported by global corporate staff functions. Consistent with BMS’s operational structure, the Chief Executive Officer (“CEO”), as the chief operating decision maker, manages and allocates resources at the global corporate level. Managing and allocating resources at the global corporate level enables the CEO to assess both the overall level of resources available and how to best deploy these resources across functions, therapeutic areas, regional commercial organizations and research and development projects in line with our overarching long-term corporate-wide strategic goals, rather than on a product or franchise basis. The determination of a single segment is consistent with the financial information regularly reviewed by the CEO for purposes of evaluating performance, allocating resources, setting incentive compensation targets, and planning and forecasting future periods. For further information on product and regional revenue, see “—Note 2. Revenue.” Use of Estimates and Judgments Revenues, expenses, assets and liabilities can vary during each quarter of the year. Accordingly, the results and trends in these unaudited consolidated financial statements may not be indicative of full year operating results. The preparation of financial statements requires the use of management estimates, judgments and assumptions. The most significant assumptions are estimates used in determining accounting for business combinations; impairments of intangible assets; sales rebate and return accruals; legal contingencies; and income taxes. Actual results may differ from estimates. Reclassifications Certain reclassifications were made to conform the prior period consolidated financial statements to the current period presentation. Cash payments resulting for licensing arrangements, including upfront and contingent milestones previously included in operating activities in the consolidated statements of cash flows are now presented in investing activities. The adjustment resulted in an increase to net cash provided by operating activities and net cash used in investing activities of $43 million in the three months ended March 31, 2020. These reclassifications did not have an impact on net assets or net earnings. Recently Adopted Accounting Standards In December 2019, the FASB issued amended guidance on the accounting and reporting of income taxes. The guidance is intended to simplify the accounting for income taxes by removing exceptions related to certain intraperiod tax allocations and deferred tax liabilities; clarifying guidance primarily related to evaluating the step-up tax basis for goodwill in a business combination; and reflecting enacted changes in tax laws or rates in the annual effective tax rate. BMS adopted the new guidance effective January 1, 2021. The amended guidance did not have a material impact on BMS’s results of operations.
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REVENUE RECOGNITION Revenue Recognition (Notes) |
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Revenue Recognition [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenue from Contract with Customer [Text Block] | REVENUE The following table summarizes the disaggregation of revenue by nature:
The following table summarizes GTN adjustments:
(a) Includes adjustments for provisions for product sales made in prior periods resulting from changes in estimates of $217 million and $72 million for the three months ended March 31, 2021 and 2020, respectively. The following table summarizes the disaggregation of revenue by product and region:
(a) Other revenues include royalties and alliance-related revenues for products not sold by BMS’s regional commercial organizations. Revenue recognized from performance obligations satisfied in prior periods was $284 million and $130 million for the three months ended March 31, 2021 and 2020, respectively, consisting primarily of revised estimates for GTN adjustments related to prior period sales and royalties for out-licensing arrangements. Contract assets were not material at March 31, 2021 and December 31, 2020.
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ALLIANCES |
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ALLIANCES [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Collaborative Arrangement Disclosure [Text Block] | ALLIANCES BMS enters into collaboration arrangements with third parties for the development and commercialization of certain products. Although each of these arrangements is unique in nature, both parties are active participants in the operating activities of the collaboration and exposed to significant risks and rewards depending on the commercial success of the activities. BMS may either in-license intellectual property owned by the other party or out-license its intellectual property to the other party. These arrangements also typically include research, development, manufacturing, and/or commercial activities and can cover a single investigational compound or commercial product or multiple compounds and/or products in various life cycle stages. The rights and obligations of the parties can be global or limited to geographic regions. BMS refers to these collaborations as alliances and its partners as alliance partners. Selected financial information pertaining to alliances was as follows, including net product sales when BMS is the principal in the third-party customer sale for products subject to the alliance. Expenses summarized below do not include all amounts attributed to the activities for the products in the alliance, but only the payments between the alliance partners or the related amortization if the payments were deferred or capitalized.
(a) Includes unamortized upfront and milestone payments. Specific information pertaining to significant alliances including their nature and purpose; the significant rights and obligations of the parties; specific accounting policy elections are discussed in the 2020 Form 10-K.
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Collaborative Arrangement, Accounting Policy [Policy Text Block] | BMS enters into collaboration arrangements with third parties for the development and commercialization of certain products. Although each of these arrangements is unique in nature, both parties are active participants in the operating activities of the collaboration and exposed to significant risks and rewards depending on the commercial success of the activities. BMS may either in-license intellectual property owned by the other party or out-license its intellectual property to the other party. These arrangements also typically include research, development, manufacturing, and/or commercial activities and can cover a single investigational compound or commercial product or multiple compounds and/or products in various life cycle stages. The rights and obligations of the parties can be global or limited to geographic regions. BMS refers to these collaborations as alliances and its partners as alliance partners. |
DIVESTITURES, LICENSING AND OTHER ARRANGEMENTS (Notes) |
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Acquisitions, Divestitures and Other Arrangements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Divestitures, Licensing and Other Arrangements [Text Block] | DIVESTITURES, LICENSING AND OTHER ARRANGEMENTS Divestitures The following table summarizes the financial impact of divestitures including royalties, which are included in Other (income)/expense, net. Revenue and pretax earnings related to all divestitures were not material in all periods presented (excluding divestiture gains or losses).
(a) Includes royalties received subsequent to the related sale of the asset or business. Licensing and Other Arrangements The following table summarizes the financial impact of Keytruda* royalties, Tecentriq* royalties, up-front and milestone licensing fees for products that have not obtained commercial approval, which are included in Other (income)/expense, net.
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OTHER EXPENSE (INCOME), NET |
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Other (Income)/Expense [Text Block] | OTHER (INCOME)/EXPENSE, NET
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RESTRUCTURING |
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Restructuring Charges [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring and Related Activities Disclosure [Text Block] | RESTRUCTURING Celgene Acquisition Plan In 2019, a restructuring and integration plan was implemented as an initiative to realize sustainable run rate synergies resulting from cost savings and avoidance from the Celgene acquisition which is currently expected to be approximately $3.0 billion. The synergies are expected to be realized in Cost of products sold (10%), Marketing, selling and administrative expenses (55%) and Research and development expenses (35%). Charges of approximately $3.0 billion are expected to be incurred through 2022. Cumulative charges of approximately $2.1 billion have been recognized including integration planning and execution expenses, employee termination benefit costs and accelerated stock-based compensation, contract termination costs and other shutdown costs associated with site exits. Cash outlays in connection with these actions are expected to be approximately $2.5 billion. Employee workforce reductions were approximately 65 and 600 for the three months ended March 31, 2021 and 2020, respectively. MyoKardia Acquisition Plan In 2020, a restructuring and integration plan was initiated to realize expected cost synergies resulting from cost savings and avoidance from the MyoKardia acquisition. Charges of approximately $150 million are expected to be incurred through 2022, and consist of integration planning and execution expenses, employee termination benefit costs and other costs. Cumulative charges of approximately $76 million have been recognized for these actions. Company Transformation In 2016, a restructuring plan was announced to evolve and streamline BMS’s operating model. Cumulative charges of approximately $1.5 billion were recognized for these actions since the announcement. Actions under the plan were completed as of December 31, 2020. The following provides the charges related to restructuring initiatives by type of cost:
The following summarizes the charges and spending related to restructuring plan activities:
(a) Includes the liability resulting from changes in estimates of $1 million and $4 million for the three months ended March 31, 2021 and 2020, respectively. Excludes $6 million and $18 million for the three months ended March 31, 2021 and 2020, respectively, of accelerated stock-based compensation relating to the Celgene Acquisition Plan.
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Income Tax Disclosure [Text Block] | INCOME TAXES
Income taxes in interim periods are determined based on the estimated annual effective tax rates and the tax impact of discrete items that are reflected immediately. The effective tax rates in the first quarter of 2021 and 2020 were impacted by low jurisdictional tax rates attributed to the unwinding or amortization of inventory and intangible asset purchase price adjustments, contingent value rights fair value adjustments that are not taxable or deductible and valuation allowances on equity investment fair value adjustments. Additional changes to the effective tax rate may occur in future periods due to various reasons including changes to the estimated pretax earnings mix and tax reserves, cash repatriations and revised interpretations of the relevant tax code. It is reasonably possible that the amount of unrecognized tax benefits at March 31, 2021 could decrease in the range of approximately $460 million to $510 million in the next twelve months as a result of the settlement of certain tax audits and other events. The expected change in unrecognized tax benefits may result in the payment of additional taxes, adjustment of certain deferred taxes and/or recognition of tax benefits. BMS is currently under examination by a number of tax authorities, which have proposed or are considering proposing material adjustments to tax positions for issues such as transfer pricing, certain tax credits and the deductibility of certain expenses. As previously disclosed, BMS received several notices of proposed adjustments from the IRS related to transfer pricing and other tax positions for the 2008 to 2012 tax years. BMS disagrees with the IRS’s positions and continues to work cooperatively with the IRS to resolve these open tax audits. It is reasonably possible that new issues will be raised by tax authorities that may increase unrecognized tax benefits; however, an estimate of such increases cannot reasonably be made at this time. BMS believes that it has adequately provided for all open tax years by tax jurisdiction.
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EARNINGS PER SHARE |
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Earnings Per Share [Text Block] | EARNINGS/(LOSS) PER SHARE
The total number of potential shares of common stock excluded from the diluted earnings/(loss) per common share computation because of the antidilutive impact was 14 million and 138 million for the three months ended March 31, 2021 and 2020, respectively.
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FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS |
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Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block] | FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS Financial assets and liabilities measured at fair value on a recurring basis are summarized below:
As further described in “Item 8. Financial Statements and Supplementary Data—Note 9. Financial Instruments and Fair Value Measurements” in the Company’s 2020 Form 10-K, the Company’s fair value estimates use inputs that are either (1) quoted prices for identical assets or liabilities in active markets (Level 1 inputs); (2) observable prices for similar assets or liabilities in active markets or for identical or similar assets or liabilities in markets that are not active (Level 2 inputs); or (3) unobservable inputs (Level 3 inputs). Contingent consideration obligations are recorded at their estimated fair values and these obligations are revalued each reporting period until the related contingencies are resolved. The contingent value rights are adjusted to fair value using the traded price of the securities at the end of each reporting period. The fair value measurements for other contingent consideration liabilities are estimated using probability-weighted discounted cash flow approaches that are based on significant unobservable inputs related to product candidates acquired in business combinations and are reviewed quarterly. These inputs include, as applicable, estimated probabilities and timing of achieving specified development and regulatory milestones and the discount rate used to calculate the present value of estimated future payments. Significant changes which increase or decrease the probabilities of achieving the related development and regulatory events or shorten or lengthen the time required to achieve such events would result in corresponding increases or decreases in the fair values of these obligations. The fair value of other acquisition related contingent consideration as of March 31, 2021 was calculated using the following significant unobservable inputs:
There were no transfers between levels 1, 2 and 3 during the three months ended March 31, 2021. The following table represents a roll-forward of the fair value of level 3 instruments:
Available-for-sale Debt Securities and Equity Investments The following table summarizes available-for-sale debt securities:
(a) All marketable debt securities mature within two years as of March 31, 2021 and December 31, 2020. The following summarizes the carrying amount of equity investments:
The following summarizes the activity related to equity investments. Changes in fair value of equity investments are included in Other (income)/expense, net.
(a) Net unrealized net gains/(losses) on equity investments still held were $381 million and $(228) million for the three months ended March 31, 2021 and 2020, respectively. Qualifying Hedges and Non-Qualifying Derivatives Cash Flow Hedges — Foreign currency forward contracts are used to hedge certain forecasted intercompany inventory purchases and sales transactions and certain foreign currency transactions. The fair value for contracts designated as cash flow hedges are temporarily reported in Accumulated other comprehensive loss and included in earnings when the hedged item affects earnings. The net gain or loss on foreign currency forward contracts is expected to be reclassified to net earnings (primarily included in Cost of products sold and Other (income)/expense, net) within the next 12 months. The notional amount of outstanding foreign currency forward contracts was primarily attributed to the euro of $3.3 billion and Japanese yen of $1.1 billion at March 31, 2021. The earnings impact related to discontinued cash flow hedges and hedge ineffectiveness was not material during all periods presented. Cash flow hedge accounting is discontinued when the forecasted transaction is no longer probable of occurring within 60 days after the originally forecasted date or when the hedge is no longer effective. Assessments to determine whether derivatives designated as qualifying hedges are highly effective in offsetting changes in the cash flows of hedged items are performed at inception and on a quarterly basis. Foreign currency forward contracts not designated as hedging instruments are used to offset exposures in certain foreign currency denominated assets, liabilities and earnings. Changes in the fair value of these derivatives are recognized in earnings as they occur. BMS may hedge a portion of its future foreign currency exposure by utilizing a strategy that involves both a purchased local currency put option and a written local currency call option that are accounted for as hedges of future sales denominated in that local currency. Specifically, BMS sells (or writes) a local currency call option and purchases a local currency put option with the same expiration dates and local currency notional amounts but with different strike prices. The premium collected from the sale of the call option is equal to the premium paid for the purchased put option, resulting in no net premium being paid. This combination of transactions is generally referred to as a “zero-cost collar.” The expiration dates and notional amounts correspond to the amount and timing of forecasted foreign currency sales. If the U.S. Dollar weakens relative to the currency of the hedged anticipated sales, the purchased put option value reduces to zero and BMS benefits from the increase in the U.S. Dollar equivalent value of our anticipated foreign currency cash flows; however, this benefit would be capped at the strike level of the written call, which forms the upper end of the collar. Net Investment Hedges — Non-U.S. Dollar borrowings of €950 million ($1.1 billion) at March 31, 2021 are designated as net investment hedges to hedge euro currency exposures of the net investment in certain foreign affiliates and are recognized in long-term debt. The effective portion of foreign exchange gain on the remeasurement of euro debt was included in the foreign currency translation component of Accumulated other comprehensive loss with the related offset in long-term debt. Cross-currency interest rate swap contracts of $400 million at March 31, 2021 are designated to hedge Japanese yen currency exposure of BMS’s net investment in its Japan subsidiaries. Contract fair value changes are recorded in the foreign currency translation component of Other Comprehensive Income/(Loss) with a related offset in Other non-current assets or Other non-current liabilities. Fair Value Hedges — Fixed to floating interest rate swap contracts are designated as fair value hedges and used as an interest rate risk management strategy to create an appropriate balance of fixed and floating rate debt. The contracts and underlying debt for the hedged benchmark risk are recorded at fair value. The effective interest rate for the contracts is one-month LIBOR (0.11% as of March 31, 2021) plus an interest rate spread of 4.6%. Gains or losses resulting from changes in fair value of the underlying debt attributable to the hedged benchmark interest rate risk are recorded in interest expense with an associated offset to the carrying value of debt. Since the specific terms and notional amount of the swap are intended to align with the debt being hedged, all changes in fair value of the swap are recorded in interest expense with an associated offset to the derivative asset or liability on the consolidated balance sheet. As a result, there was no net impact in earnings. When the underlying swap is terminated prior to maturity, the fair value adjustment to the underlying debt is amortized as a reduction to interest expense over the remaining term of the debt. The following table summarizes the fair value of outstanding derivatives:
(a) Included in Other current assets and Other non-current assets. (b) Included in Other current liabilities and Other non-current liabilities. The following table summarizes the financial statement classification and amount of (gain)/loss recognized on hedging instruments:
The following table summarizes the effect of derivative and non-derivative instruments designated as hedging instruments in Other Comprehensive Income/(Loss):
(a) The majority is expected to be reclassified into earnings in the next 12 months. Debt Obligations Short-term debt obligations include:
Long-term debt and the current portion of long-term debt include:
The fair value of long-term debt was $50.3 billion at March 31, 2021 and $58.5 billion at December 31, 2020 valued using Level 2 inputs, which are based upon the quoted market prices for the same or similar debt instruments. The fair value of short-term borrowings approximates the carrying value due to the short maturities of the debt instruments. In the three months ended March 31, 2021, BMS purchased aggregate principal amount of $3.5 billion of certain of its debt securities for approximately $4.0 billion of cash in a series of tender offers and “make whole” redemptions. In connection with these transactions, a $281 million loss on debt redemption was recognized based on the carrying value of the debt and included in Other (income)/expense, net. In addition, the $500 million 2.875% Notes matured and were repaid. Interest payments were $435 million and $491 million for the three months ended March 31, 2021 and 2020, respectively, net of amounts related to interest rate swap contracts. As of March 31, 2021, BMS had four separate revolving credit facilities totaling $6.0 billion, which consisted of a 364-day $2.0 billion facility expiring in January 2022, a three-year $1.0 billion facility expiring in January 2022 and two five-year $1.5 billion facilities that were extended to September 2024 and July 2025, respectively. The facilities provide for customary terms and conditions with no financial covenants and may be used to provide backup liquidity for BMS’s commercial paper borrowings and are extendable annually by one year on the anniversary date with the consent of the lenders. No borrowings were outstanding under any revolving credit facility at March 31, 2021 or December 31, 2020.
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RECEIVABLES |
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Accounts Receivable, after Allowance for Credit Loss [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables [Text Block] | RECEIVABLES
Non-U.S. receivables sold on a nonrecourse basis were $318 million and $180 million for the three months ended March 31, 2021 and 2020, respectively. Receivables from the three largest customers in the U.S. represented approximately 57% and 55% of total trade receivables at March 31, 2021 and December 31, 2020, respectively.
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INVENTORIES |
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Inventories [Text Block] | INVENTORIES
Total inventories include fair value adjustments resulting from the Celgene acquisition of $695 million at March 31, 2021 and $774 million at December 31, 2020. Other non-current assets include inventory expected to remain on hand beyond one year in both periods.
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PROPERTY, PLANT AND EQUIPMENT |
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Property, Plant and Equipment [Text Block] | PROPERTY, PLANT AND EQUIPMENT
Depreciation expense was $135 million and $170 million for the three months ended March 31, 2021 and 2020, respectively.
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GOODWILL AND OTHER INTANGIBLE ASSETS |
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Goodwill and Intangible Assets Disclosure [Text Block] | GOODWILL AND OTHER INTANGIBLE ASSETS
In the first quarter of 2021, $1.5 billion of IPRD was reclassified to acquired marketed product rights upon approval of Breyanzi and Abecma in the U.S. Amortization expense of other intangible assets was $2.6 billion and $2.3 billion for the three months ended March 31, 2021 and 2020, respectively. In the first quarter of 2021, Inrebic EU regulatory approval milestones of $300 million were achieved resulting in a $385 million increase to the acquired marketed product rights intangible asset, after establishing the applicable deferred tax liability. An impairment charge of $315 million was recognized in Cost of products sold as the carrying value of this asset exceeded the projected undiscounted cash flows of the asset. The charge was equal to the excess of the asset's carrying value over its estimated fair value using discounted cash flow projections.
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SUPPLEMENTAL FINANCIAL INFORMATION |
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Supplemental Financial Information [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additional Financial Information Disclosure [Text Block] | SUPPLEMENTAL FINANCIAL INFORMATION
(a) Restricted cash consists of funds restricted for annual Company contributions to the defined contribution plan in the U.S. and escrow for litigation settlements. Restricted cash of $339 million at March 31, 2021 and $429 million at March 31, 2020 was included in cash, cash equivalents and restricted cash in the consolidated statements of cash flows.
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Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Equity Note Disclosure [Text Block] | EQUITY The following table summarizes changes in equity for the three months ended March 31, 2021:
(a) Cash dividends declared per common share were $0.49 for the three months ended March 31, 2021. The following table summarizes changes in equity for the three months ended March 31, 2020:
(a) Cash dividends declared per common share were $0.45 for the three months ended March 31, 2020. BMS has a share repurchase program, authorized by its Board of Directors, allowing for repurchases of its shares. The share repurchase program does not obligate us to repurchase any specific number of shares, does not have a specific expiration date and may be suspended or discontinued at any time. Treasury stock is recognized at the cost to reacquire the shares. Shares issued from treasury are recognized utilizing the first-in first-out method. The outstanding share repurchase authority authorization under the program was $4.4 billion as of December 31, 2020. In January 2021, the Board of Directors approved an increase of $2.0 billion to the share repurchase authorization for BMS’s common stock. BMS repurchased approximately 28 million shares of its common stock for $1.8 billion during the three months ended March 31, 2021. The remaining share repurchase capacity under the share repurchase program was approximately $4.6 billion as of March 31, 2021. BMS repurchased 1.4 million shares of its common stock for $81 million in the three months ended March 31, 2020. The components of Other Comprehensive Income/(Loss) were as follows:
(a)Included in Cost of products sold. (b)Included in Other (income)/expense, net. The accumulated balances related to each component of Other Comprehensive Income/(Loss), net of taxes, were as follows:
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EMPLOYEE STOCK BENEFIT PLANS Employee Stock Benefit Plans (Notes) |
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Share-based Payment Arrangement [Text Block] | EMPLOYEE STOCK BENEFIT PLANS Stock-based compensation expense was as follows:
(a) Income tax benefit excludes excess tax benefits from share-based compensation awards that were vested or exercised of $17 million and $23 million for the three months ended March 31, 2021 and 2020, respectively. The number of units granted and the weighted-average fair value on the grant date for the three months ended March 31, 2021 were as follows:
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LEGAL PROCEEDINGS AND CONTINGENCIES |
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Commitments and Contingencies Disclosure [Abstract] | |
Legal Proceedings and Contingencies [Text Block] | LEGAL PROCEEDINGS AND CONTINGENCIES BMS and certain of its subsidiaries are involved in various lawsuits, claims, government investigations and other legal proceedings that arise in the ordinary course of business. These claims or proceedings can involve various types of parties, including governments, competitors, customers, suppliers, service providers, licensees, employees, or shareholders, among others. These matters may involve patent infringement, antitrust, securities, pricing, sales and marketing practices, environmental, commercial, contractual rights, licensing obligations, health and safety matters, consumer fraud, employment matters, product liability and insurance coverage, among others. The resolution of these matters often develops over a long period of time and expectations can change as a result of new findings, rulings, appeals or settlement arrangements. Legal proceedings that are significant or that BMS believes could become significant or material are described below. While BMS does not believe that any of these matters, except as otherwise specifically noted below, will have a material adverse effect on its financial position or liquidity as BMS believes it has substantial defenses in the matters, the outcomes of BMS’s legal proceedings and other contingencies are inherently unpredictable and subject to significant uncertainties. There can be no assurance that there will not be an increase in the scope of one or more of these pending matters or any other or future lawsuits, claims, government investigations or other legal proceedings will not be material to BMS’s financial position, results of operations or cash flows for a particular period. Furthermore, failure to enforce BMS’s patent rights would likely result in substantial decreases in the respective product revenues from generic competition. Unless otherwise noted, BMS is unable to assess the outcome of the respective matters nor is it able to estimate the possible loss or range of losses that could potentially result for such matters. Contingency accruals are recognized when it is probable that a liability will be incurred and the amount of the related loss can be reasonably estimated. Developments in legal proceedings and other matters that could cause changes in the amounts previously accrued are evaluated each reporting period. For a discussion of BMS’s tax contingencies, see “—Note 7. Income Taxes”. INTELLECTUAL PROPERTY Anti-PD-1 Antibody Litigation In September 2015, Dana-Farber Cancer Institute (“Dana-Farber”) filed a complaint in the U.S. District Court for the District of Massachusetts seeking to correct the inventorship on up to six related U.S. patents directed to methods of treating cancer using PD-1 and PD-L1 antibodies. Specifically, Dana-Farber is seeking to add two scientists as inventors to these patents. In October 2017, Pfizer was allowed to intervene in this case alleging that one of the scientists identified by Dana-Farber was employed by a company eventually acquired by Pfizer during the relevant period. In February 2019, BMS settled the lawsuit with Pfizer. A bench trial in the lawsuit with Dana-Farber took place in February 2019. In May 2019, the Court issued an opinion ruling that the two scientists should be added as inventors to the patents. The decision was appealed to the U.S. Court of Appeals for the Federal Circuit and the Federal Circuit affirmed the District Court opinion. BMS filed a petition to reconsider the decision with the Federal Circuit en banc, which was denied in October 2020. In March 2021, BMS filed a writ of certiorari to the U.S. Supreme Court. In June 2019, Dana-Farber filed a new lawsuit in the District of Massachusetts against BMS seeking damages as a result of the Court’s decision adding the scientists as inventors. In February 2021, BMS filed a motion to dismiss the complaint. CAR T On October 18, 2017, the day on which the FDA approved Kite Pharma, Inc.’s (“Kite”) Yescarta* product, Juno, along with Sloan Kettering Institute for Cancer Research (“SKI”), filed a complaint against Kite in the U.S. District Court for the Central District of California. The complaint alleged that Yescarta* infringes certain claims of U.S. Patent No. 7,446,190 (the “’190 Patent”) concerning CAR T cell technologies. Kite filed an answer and counterclaims asserting non-infringement and invalidity of the ’190 Patent. In December 2019, following an eight-day trial, the jury rejected Kite’s defenses, finding that Kite willfully infringed the ’190 Patent and awarding to Juno and SKI a reasonable royalty consisting of a $585 million upfront payment and a 27.6% running royalty on Kite’s sales of Yescarta* through the expiration of the ’190 Patent in August 2024. In January 2020, Kite renewed its previous motion for judgment as a matter of law and also moved for a new trial, and Juno filed a motion seeking enhanced damages, supplemental damages, ongoing royalties, and prejudgment interest. In March 2020, the Court denied both of Kite’s motions in their entirety. In April 2020, the Court granted in part Juno’s motion and entered a final judgment awarding to Juno and SKI approximately $1.2 billion in royalties, interest and enhanced damages and a 27.6% running royalty on Kite’s sales of Yescarta* from December 13, 2019 through the expiration of the ’190 Patent in August 2024. In April 2020, Kite appealed the final judgment to the U.S. Court of Appeals for the Federal Circuit. Eliquis – Europe In November 2020 and January 2021, Sandoz Limited (“Sandoz”) and Teva Pharmaceutical Industries Ltd. (“Teva Limited”), respectively, filed lawsuits in the United Kingdom seeking revocation of the UK apixaban composition of matter patent and related Supplementary Protection Certificate. BMS subsequently filed counterclaims for infringement in both actions. In March 2021, Teva Limited filed a lawsuit in the Republic of Ireland seeking revocation of the Irish apixaban composition of matter patent and related Supplementary Protection Certificate. Eliquis - U.S. In 2017, BMS received Notice Letters from twenty-five generic companies notifying BMS that they had filed aNDAs containing paragraph IV certifications seeking approval of generic versions of Eliquis. As a result, two Eliquis patents listed in the FDA Orange Book are being challenged: the composition of matter patent claiming apixaban specifically and a formulation patent. In response, BMS, along with its partner Pfizer, initiated patent infringement actions under the Hatch-Waxman Act against all generic filers in the U.S. District Court for the District of Delaware in April 2017. In August 2017, the U.S. Patent and Trademark Office granted patent term restoration to the composition of matter patent to November 2026, thereby restoring the term of the Eliquis composition of matter patent, which is BMS’s basis for projected LOE. BMS settled with a number of aNDA filers. These settlements do not affect BMS’s projected LOE for Eliquis. A trial with the remaining aNDA filers took place in late 2019. In August 2020, the U.S. District Court issued a decision finding that the remaining aNDA filers’ products infringed the Eliquis composition of matter and formulation patents and that both Eliquis patents are not invalid. The remaining aNDA filers have appealed to the U.S. Court of Appeals for the Federal Circuit. Plavix* - Australia Sanofi was notified that, in August 2007, GenRx Proprietary Limited (“GenRx”) obtained regulatory approval of an application for clopidogrel bisulfate 75mg tablets in Australia. GenRx, formerly a subsidiary of Apotex Inc., subsequently changed its name to Apotex (“GenRx-Apotex”). In August 2007, GenRx-Apotex filed an application in the Federal Court of Australia seeking revocation of Sanofi’s Australian Patent No. 597784 (Case No. NSD 1639 of 2007). Sanofi filed counterclaims of infringement and sought an injunction. On September 21, 2007, the Federal Court of Australia granted Sanofi’s injunction. A subsidiary of BMS was subsequently added as a party to the proceedings. In February 2008, a second company, Spirit Pharmaceuticals Pty. Ltd., also filed a revocation suit against the same patent. This case was consolidated with the GenRx-Apotex case. On August 12, 2008, the Federal Court of Australia held that claims of Patent No. 597784 covering clopidogrel bisulfate, hydrochloride, hydrobromide, and taurocholate salts were valid. The Federal Court also held that the process claims, pharmaceutical composition claims, and claim directed to clopidogrel and its pharmaceutically acceptable salts were invalid. BMS and Sanofi filed notices of appeal in the Full Court of the Federal Court of Australia (“Full Court”) appealing the holding of invalidity of the claim covering clopidogrel and its pharmaceutically acceptable salts, process claims, and pharmaceutical composition claims. GenRx-Apotex appealed the holding of validity of the clopidogrel bisulfate, hydrochloride, hydrobromide, and taurocholate claims. On September 29, 2009, the Full Court held all of the claims of Patent No. 597784 invalid. In March 2010, the High Court of Australia denied a request by BMS and Sanofi to hear an appeal of the Full Court decision. The case was remanded to the Federal Court for further proceedings related to damages sought by GenRx-Apotex. BMS and GenRx-Apotex settled, and the GenRx-Apotex case was dismissed. The Australian government intervened in this matter seeking maximum damages up to 449 million AUD ($340 million), plus interest, which would be split between BMS and Sanofi, for alleged losses experienced for paying a higher price for branded Plavix* during the period when the injunction was in place. BMS and Sanofi dispute that the Australian government is entitled to any damages. A trial was concluded in September 2017. In April 2020, the Federal Court issued a decision dismissing the Australian government’s claim for damages. In May 2020, the Australian government appealed the Federal Court’s decision and an appeal hearing concluded in February 2021. Pomalyst - Canada Celgene received a Notice of Allegation in January 2020 from Natco Pharma (Canada) Inc. (“Natco Canada”) notifying Celgene that it had filed an Abbreviated New Drug Submission (“aNDS”) with Canada’s Minister of Health with respect to certain of Celgene’s Canadian patents. Natco Canada is seeking to market a generic version of Pomalyst in Canada. In response, Celgene initiated a patent infringement action in the Federal Court of Canada. Natco Canada alleges that the asserted patents are invalid and/or not infringed. A trial is scheduled to begin on November 15, 2021. Celgene received a second Notice of Allegation in November 2020 from Natco Canada notifying Celgene that it had filed a second aNDS with Canada’s Minister of Health with respect to certain of Celgene’s Canadian patents. Natco Canada is seeking to market a generic version of Pomalyst in Canada. In response, Celgene initiated a patent infringement action in the Federal Court of Canada. Natco Canada alleges that the asserted patents are invalid and/or not infringed. A trial is scheduled to begin in May 2022. Celgene received two Notices of Allegation in March 2020 from Dr. Reddy’s Laboratories Ltd. (“DRL Canada”) notifying Celgene that it had filed an aNDS with Canada’s Minister of Health with respect to certain of Celgene’s Canadian patents. DRL Canada is seeking to market a generic version of Pomalyst in Canada. In response, Celgene initiated two patent infringement actions in the Federal Court of Canada. In February 2021, Celgene and DRL Canada entered into a confidential settlement agreement and the cases were discontinued. Celgene received four Notices of Allegation in February 2021 from Apotex Inc. (“Apotex”) notifying Celgene that it had filed two aNDSs with Canada’s Minister of Health with respect to certain of Celgene’s Canadian patents. Apotex is seeking to market a generic version of Pomalyst in Canada. In response, in April 2021, Celgene initiated patent infringement actions against Apotex in the Federal Court of Canada. Pomalyst - U.S. Beginning in 2017, Celgene received Notice letters on behalf of Teva Pharmaceuticals USA, Inc. (“Teva”); Apotex and Apotex Corp.; Hetero Labs Limited, Hetero Labs Limited Unit-V, Hetero Drugs Limited, Hetero USA, Inc. (collectively, “Hetero”); Eugia Pharma Specialities Limited and Aurobindo Pharma Ltd. (collectively, “Aurobindo”); Mylan Pharmaceuticals Inc.; and Breckenridge Pharmaceutical, Inc. (“Breckenridge”) notifying Celgene that they had filed aNDAs containing paragraph IV certifications seeking approval to market generic versions of Pomalyst in the U.S. In response, Celgene filed patent infringement actions against the companies in the U.S. District Court for the District of New Jersey asserting certain FDA Orange Book-listed patents and the companies filed answers, counterclaims and declaratory judgment actions alleging that the asserted patents are invalid, unenforceable, and not infringed. These litigations were subsequently consolidated. In March 2020, Celgene subsequently filed additional patent infringement actions in the U.S. District Court for the District of New Jersey against each of the companies asserting a newly-issued patent that is listed in the FDA Orange Book and that covers formulations comprising pomalidomide. The companies each filed responsive pleadings between April and June 2020, alleging that the patent is invalid and not infringed. The Court has consolidated these additional litigations with the previously-consolidated litigations. In September 2020, the Court granted Mylan Pharmaceuticals Inc.’s motion to dismiss, which decision Celgene has appealed. In October 2020, Breckenridge and Aurobindo received final approval from the FDA of their respective aNDAs. In November 2020, Celgene and Breckenridge entered into a confidential settlement agreement. In March 2021, Celgene and Teva entered into a confidential settlement agreement. Pursuant to terms of the confidential settlement agreements, the Court enjoined Breckenridge and Teva from infringing the asserted patents, unless and to the extent otherwise specifically authorized by Celgene and dismissed Breckenridge and Teva from the proceedings. Trial against the remaining defendants is set for late 2021. In February and March 2019, Celgene filed additional patent infringement actions in the U.S. District Court for the District of New Jersey against the companies asserting certain patents that are not listed in the FDA Orange Book and that cover polymorphic forms of pomalidomide, and the companies filed answers and/or counterclaims alleging that each of these patents is invalid and/or not infringed. These actions have been consolidated with the earlier-filed actions against the companies. In April 2021, Celgene entered into a confidential settlement agreement with Apotex settling all outstanding claims in the litigation with Apotex. In June 2019, Celgene received a Notice Letter from Dr. Reddy’s Laboratories, Ltd. and Dr. Reddy’s Laboratories, Inc. (together, “DRL”) notifying Celgene that they had filed an aNDA containing paragraph IV certifications seeking approval to market a generic version of Pomalyst in the U.S. In response, Celgene initiated a patent infringement action against DRL in the U.S. District Court for the District of New Jersey asserting certain FDA Orange Book-listed patents, and DRL filed an answer and counterclaims alleging that each of the patents is invalid and/or not infringed. In March 2020, Celgene filed an additional patent infringement action in the U.S. District Court for the District of New Jersey against DRL asserting a newly-issued patent that is listed in the FDA Orange Book and that covers formulations comprising pomalidomide, which has been consolidated with the above DRL case. The Court has not set a trial date in this consolidated action. In February 2021, Celgene filed an additional patent infringement action in the U.S. District Court for the District of New Jersey against DRL asserting certain patents that are not listed in the FDA Orange Book and that cover polymorphic forms of pomalidomide. No trial date has been set for this matter. Revlimid - U.S. Celgene has received Notice Letters on behalf of Zydus Pharmaceuticals (USA) Inc. (“Zydus”); Cipla Ltd. (“Cipla”); Apotex; Sun Pharma Global FZE, Sun Pharma Global Inc., Sun Pharmaceutical Industries, Inc., and Sun Pharmaceutical Industries Limited; Hetero; Mylan Pharmaceuticals Inc., Mylan Inc., and Mylan N.V. (collectively, “Mylan”); and Aurobindo Pharma Limited, Eugia Pharma Specialities Limited, Aurobindo Pharma USA, Inc., Aurolife Pharma LLC, and Lupin Limited (“Lupin”) notifying Celgene that they had filed aNDAs containing paragraph IV certifications seeking approval to market generic versions of Revlimid in the U.S. In response, Celgene filed patent infringement actions against the companies in the U.S. District Court for the District of New Jersey asserting certain FDA Orange Book-listed patents as well as other litigations asserting other non-FDA Orange Book-listed patents against certain defendants, who have filed answers and/or counterclaims alleging that the asserted patents are invalid and/or not infringed. No trial date has been scheduled in any of these New Jersey actions. Celgene also filed a patent infringement action against Mylan in the U.S. District Court for the Northern District of West Virginia (the “West Virginia action”) asserting certain FDA Orange Book-listed patents. Mylan filed its answer and counterclaims alleging that the patents are invalid and/or not infringed. In December 2020, Celgene entered into a confidential settlement agreement with Cipla, settling all outstanding claims in the litigation with Cipla. In March 2021, Celgene entered into confidential settlement agreements with Apotex and Zydus, respectively, settling all outstanding claims in the litigation with those parties. Sprycel - U.S. In August 2019, BMS received a Notice Letter from Dr. Reddy’s Laboratories, Inc. notifying BMS that it had filed an aNDA containing paragraph IV certifications seeking approval of a generic version of Sprycel in the U.S. and challenging two FDA Orange Book-listed monohydrate form patents expiring in 2025 and 2026. In response, BMS filed a patent infringement action in the U.S. District Court for the District of New Jersey. No trial date has been scheduled. In 2020, BMS received a Notice Letter from Lupin notifying BMS that it had filed an aNDA containing paragraph IV certifications seeking approval of a generic version of Sprycel in the U.S. and challenging two FDA Orange Book-listed monohydrate form patents expiring in 2025 and 2026. In response, BMS filed patent infringement actions in the U.S. District Courts for the District of New Jersey and Delaware. No trial date has been scheduled. PRICING, SALES AND PROMOTIONAL PRACTICES LITIGATION Plavix* State Attorneys General Lawsuits BMS and certain Sanofi entities are defendants in consumer protection actions brought by the attorneys general of Hawaii and New Mexico relating to the labeling, sales and/or promotion of Plavix*. A trial in the Hawaii matter occurred in 2020. In February 2021, the Court issued a decision against Sanofi and BMS, imposing penalties in the total amount of $834 million, with $417 million attributed to BMS. Sanofi and BMS disagree with the decision and are appealing it. BMS remains confident in the merits of its case and its likelihood of success on appeal and BMS does not believe establishing a reserve is warranted for this matter. A trial in the New Mexico matter is scheduled to begin in April 2022. PRODUCT LIABILITY LITIGATION BMS is a party to various product liability lawsuits. Plaintiffs in these cases seek damages and other relief on various grounds for alleged personal injury and economic loss. As previously disclosed, in addition to lawsuits, BMS also faces unfiled claims involving its products. Abilify* BMS and Otsuka are co-defendants in product liability litigation related to Abilify*. Plaintiffs allege Abilify* caused them to engage in compulsive gambling and other impulse control disorders. There have been over 2,500 cases filed in state and federal courts and additional cases are pending in Canada. The Judicial Panel on Multidistrict Litigation consolidated the federal court cases for pretrial purposes in the U.S. District Court for the Northern District of Florida. In February 2019, BMS and Otsuka entered into a master settlement agreement establishing a proposed settlement program to resolve all Abilify* compulsivity claims filed as of January 28, 2019 in the MDL as well as various state courts, including California and New Jersey. To date, approximately 2,700 cases, comprising approximately 3,900 plaintiffs, have been dismissed based on participation in the settlement program or failure to comply with settlement related court orders. In the U.S., less than 20 cases remain pending on behalf of plaintiffs, who either chose not to participate in the settlement program or filed their claims after the settlement cut-off date. There are ten cases pending in Canada (four class actions, six individual injury claims). Out of the ten cases, only two are active (the class actions in Quebec and Ontario and one individual injury claim). Both class actions have now been certified and will proceed separately, subject to a pending appeal of the Ontario class certification decision. Byetta* Amylin, a former subsidiary of BMS, and Lilly are co-defendants in product liability litigation related to Byetta*. As of March 2021, there are approximately 590 separate lawsuits pending on behalf of approximately 2,250 active plaintiffs (including pending settlements), which include injury plaintiffs as well as claims by spouses and/or other beneficiaries, in various courts in the U.S. The majority of these cases have been brought by individuals who allege personal injury sustained after using Byetta*, primarily pancreatic cancer, and, in some cases, claiming alleged wrongful death. The majority of cases are pending in federal court in San Diego in an MDL or in a coordinated proceeding in California Superior Court in Los Angeles (“JCCP”). In April 2020 the defendants filed a motion for summary judgment based on federal preemption and a motion for summary judgment based on the absence of general causation evidence in the MDL and JCCP. Both motions were granted in March 2021 and April 2021, respectively. The orders will result in the dismissal of all claims alleging an injury of pancreatic cancer in the MDL and JCCP. Plaintiffs have appealed the MDL order and may seek appeals in the JCCP. Amylin had product liability insurance covering a substantial number of claims involving Byetta* (which has been exhausted). BMS sold Byetta* to AstraZeneca in February 2014 as part of BMS’s global diabetes business divestiture and any additional liability to Amylin with respect to Byetta* is expected to be shared with AstraZeneca. Onglyza* BMS and AstraZeneca are co-defendants in product liability litigation related to Onglyza*. Plaintiffs assert claims, including claims for wrongful death, as a result of heart failure or other cardiovascular injuries they allege were caused by their use of Onglyza*. As of March 2021, claims are pending in state and federal court on behalf of approximately 280 individuals who allege they ingested the product and suffered an injury. In February 2018, the Judicial Panel on Multidistrict Litigation ordered all federal cases to be transferred to an MDL in the U.S. District Court for the Eastern District of Kentucky. A significant majority of the claims are pending in the MDL. As part of BMS’s global diabetes business divestiture, BMS sold Onglyza* to AstraZeneca in February 2014 and any potential liability with respect to Onglyza* is expected to be shared with AstraZeneca. SECURITIES LITIGATION BMS Securities Class Action Since February 2018, two separate putative class action complaints were filed in the U.S. District for the Northern District of California and in the U.S. District Court for the Southern District of New York against BMS, BMS’s Chief Executive Officer, Giovanni Caforio, BMS’s Chief Financial Officer at the time, Charles A. Bancroft and certain former and current executives of BMS. The case in California has been voluntarily dismissed. The remaining complaint alleges violations of securities laws for BMS’s disclosures related to the CheckMate-026 clinical trial in lung cancer. In September 2019, the Court granted BMS’s motion to dismiss, but allowed the plaintiffs leave to file an amended complaint. In October 2019, the plaintiffs filed an amended complaint. BMS moved to dismiss the amended complaint. In September 2020, the Court granted BMS’s motion to dismiss with prejudice. The plaintiffs appealed the Court’s decision in October 2020. Celgene Securities Class Action Beginning in March 2018, two putative class actions were filed against Celgene and certain of its officers in the U.S. District Court for the District of New Jersey (the “Celgene Securities Class Action”). The complaints allege that the defendants violated federal securities laws by making misstatements and/or omissions concerning (1) trials of GED-0301, (2) Celgene’s 2020 outlook and projected sales of Otezla*, and (3) the new drug application for Zeposia. The Court consolidated the two actions and appointed a lead plaintiff, lead counsel, and co-liaison counsel for the putative class. In February 2019, the defendants filed a motion to dismiss plaintiff’s amended complaint in full. In December 2019, the Court denied the motion to dismiss in part and granted the motion to dismiss in part (including all claims arising from alleged misstatements regarding GED-0301). Although the Court gave the plaintiff leave to re-plead the dismissed claims, it elected not to do so, and the dismissed claims are now dismissed with prejudice. In November 2020, the Court granted class certification with respect to the remaining claims. In December 2020, the defendants sought leave to appeal the Court’s class certification decision, which was denied without prejudice in March 2021. No trial date has been scheduled. In April 2020, certain Schwab management investment companies on behalf of certain Schwab funds filed an individual action in the U.S. District Court for the District of New Jersey asserting largely the same allegations as the Celgene Securities Class Action against the same remaining defendants in that action. In July 2020, the defendants filed a motion to dismiss the plaintiffs’ complaint in full. In March 2021, the Court granted in part and denied in part defendants’ motion to dismiss consistent with its decision in the Celgene Securities Class Action. In April 2021, the California Public Employees’ Retirement System filed an individual action in the U.S. District Court for the District of New Jersey asserting largely the same allegations as the Celgene Securities Class Action and the Schwab individual action against the same remaining defendants in those actions. OTHER LITIGATION Average Manufacturer Price Litigation BMS is a defendant in a qui tam (whistleblower) lawsuit in the U.S. District Court for the Eastern District of Pennsylvania, in which the U.S. Government declined to intervene. The complaint alleges that BMS inaccurately reported its average manufacturer prices to the Centers for Medicare and Medicaid Services to lower what it owed. Similar claims have been filed against other companies. In January 2020, BMS reached an agreement in principle to resolve this matter subject to the negotiation of a definitive settlement agreement and other contingencies. In March 2021, the Company finalized an agreement with the U.S. government and qui tam relator to resolve the claims asserted in the lawsuit. The Company has paid $75 million plus interest to the federal and state governments. Individual agreements will be negotiated with participating states based on the federal agreement. To the extent the Company does not finalize a settlement agreement with any state, that state’s share of the settlement will revert to the Company. HIV Medication Antitrust Lawsuits BMS and two other manufacturers of HIV medications are defendants in related lawsuits pending in the Northern District of California. The lawsuits allege that the defendants’ agreements to develop and sell fixed-dose combination products for the treatment of HIV, including Atripla* and Evotaz, violate antitrust laws. The currently pending actions, asserted on behalf of indirect purchasers, were initiated in 2019 in the Northern District of California and in 2020 in the Southern District of Florida. The Florida matter was transferred to the Northern District of California. In July 2020, the Court granted in part defendants’ motion to dismiss, including dismissing with prejudice plaintiffs’ claims as to an overarching conspiracy and plaintiffs’ theories based on the alleged payment of royalties after patent expiration. Other claims, however, remain. A trial on the indirect purchasers’ claims is scheduled for August 2022. In September and October 2020, two purported class actions have also been filed asserting similar claims on behalf of direct purchasers. In March 2021, the Court dismissed one of the direct purchaser cases and limited the claims of the remaining direct purchaser case to those arising in 2016 or later. However, the court gave plaintiffs leave to amend their complaints, and one plaintiff filed an amended complaint on March 16, 2021. A trial on the direct purchasers’ claims has not been scheduled. In February 2021, BMS and two other manufacturers of HIV medications were sued by the Attorney General of the State of New Mexico in a case alleging that the defendants’ agreements to develop and sell various fixed-dose combination products for the treatment of HIV, including Atripla*, and agreements to settle certain patent litigation violate the antitrust laws of the State of New Mexico. The case is currently pending in the United States District Court for the District of New Mexico. No schedule has been set for the case. Thalomid and Revlimid Litigations Beginning in November 2014, certain putative class action lawsuits were filed against Celgene in the U.S. District Court for the District of New Jersey alleging that Celgene violated various antitrust, consumer protection, and unfair competition laws by (a) allegedly securing an exclusive supply contract for the alleged purpose of preventing a generic manufacturer from securing its own supply of thalidomide active pharmaceutical ingredient, (b) allegedly refusing to sell samples of Thalomid and Revlimid brand drugs to various generic manufacturers for the alleged purpose of bioequivalence testing necessary for aNDAs to be submitted to the FDA for approval to market generic versions of these products, (c) allegedly bringing unjustified patent infringement lawsuits in order to allegedly delay approval for proposed generic versions of Thalomid and Revlimid, and/or (d) allegedly entering into settlements of patent infringement lawsuits with certain generic manufacturers that allegedly have had anticompetitive effects. The plaintiffs, on behalf of themselves and putative classes of third-party payers, sought injunctive relief and damages. The various lawsuits were consolidated into a master action for all purposes. In March 2020, Celgene reached a settlement with the class plaintiffs. In October 2020, the Court entered a final order approving the settlement and dismissed the matter. That settlement does not resolve the claims of certain entities that opted out of the settlement. In May 2018, Humana, Inc. (“Humana”) filed a lawsuit against Celgene in the Pike County Circuit Court of the Commonwealth of Kentucky. Humana’s complaint alleges Celgene engaged in unlawful off-label marketing in connection with sales of Thalomid and Revlimid and asserts claims against Celgene for fraud, breach of contract, negligent misrepresentation, unjust enrichment and violations of New Jersey’s Racketeer Influenced and Corrupt Organizations Act. The complaint seeks, among other things, treble and punitive damages, injunctive relief and attorneys’ fees and costs. In April 2019, Celgene filed a motion to dismiss Humana’s complaint, which the Court denied in January 2020. No trial date has been scheduled. In March 2019, Humana filed a lawsuit against Celgene in the U.S. District Court for the District of New Jersey. Humana’s complaint makes largely the same claims and allegations as were made in the class action litigation. The complaint purports to assert claims on behalf of Humana and its subsidiaries in several capacities, including as a direct purchaser and as an indirect purchaser, and seeks, among other things, treble and punitive damages, injunctive relief and attorneys’ fees and costs. Celgene filed a motion to dismiss Humana’s complaint, and the Court has stayed discovery pending adjudication of that motion. No trial date has been scheduled. In March 2020, United HealthCare Services, Inc. (“UHS”), affiliates of which opted out of the first settlement in the Thalomid and Revlimid Antitrust Class Action Litigation, filed a lawsuit against Celgene in the U.S. District Court for the District of Minnesota. UHS’s complaint makes largely the same claims and allegations as were made in the class action litigation in addition to certain claims regarding donations directed to copay assistance. The complaint purports to assert claims on behalf of UHS and its subsidiaries in several capacities, including as a direct purchaser and as an indirect purchaser, and seeks, among other things, treble and punitive damages, injunctive relief and attorneys’ fees and costs. In December 2020, Celgene’s motion to transfer the action to the District of New Jersey was granted and the case is now pending in that Court. In May 2020, Celgene filed suit against Humana Pharmacy, Inc. (“HPI”), a Humana subsidiary, in Delaware Superior Court. Celgene’s complaint alleges that HPI breached its contractual obligations to Celgene by assigning claims to Humana that Humana is now asserting. The complaint seeks damages for HPI’s breach as well as a declaratory judgment. In September 2020, HPI filed a motion to dismiss Celgene’s complaint, which was denied in February 2021. No trial date has been scheduled. In July 2020, Blue Cross Blue Shield Association (“BCBSA”) sued Celgene and BMS on behalf of the Federal Employee Program in the U.S. District Court for the District of Columbia. BCBSA’s complaint makes largely the same claims and allegations as were made in the class action litigation. A motion to transfer this matter to the District of New Jersey is pending. In August 2020, Health Care Service Corporation (“HCSC”), BCBSM Inc., d/b/a Blue Cross and Blue Shield of Minnesota, and Blue Cross and Blue Shield of Florida Inc., d/b/a Florida Blue, sued Celgene and BMS in the state courts of Minnesota. The complaint makes largely the same claims and allegations as were made in the class action litigation but adds allegations on behalf of HCSC only as to alleged off-label marketing of Thalomid and Revlimid. In September 2020, Celgene and BMS removed the action to the U.S. District Court for the District of Minnesota. In March 2021, that court denied plaintiffs’ motion to remand the action to state court and granted defendants’ motion to transfer the action to the District of New Jersey. The case is now pending in the District of New Jersey. In January 2021, Cigna Corporation (“Cigna”) sued Celgene and BMS in the U.S. District Court for the Eastern District of Pennsylvania. Cigna’s complaint makes largely the same claims and allegations as were made in the class action litigation. Cigna’s complaint purports to assert claims on behalf of Cigna and its subsidiaries in several capacities, including as a direct purchaser and as an indirect purchaser. Celgene’s and BMS’s response to the complaint is due in July 2021. GOVERNMENT INVESTIGATIONS Like other pharmaceutical companies, BMS and certain of its subsidiaries are subject to extensive regulation by national, state and local authorities in the U.S. and other countries in which BMS operates. As a result, BMS, from time to time, is subject to various governmental and regulatory inquiries and investigations as well as threatened legal actions and proceedings. It is possible that criminal charges, substantial fines and/or civil penalties, could result from government or regulatory investigations. ENVIRONMENTAL PROCEEDINGS As previously reported, BMS is a party to several environmental proceedings and other matters, and is responsible under various state, federal and foreign laws, including CERCLA, for certain costs of investigating and/or remediating contamination resulting from past industrial activity at BMS’s current or former sites or at waste disposal or reprocessing facilities operated by third parties. CERCLA Matters With respect to CERCLA matters for which BMS is responsible under various state, federal and foreign laws, BMS typically estimates potential costs based on information obtained from the U.S. Environmental Protection Agency, or counterpart state or foreign agency and/or studies prepared by independent consultants, including the total estimated costs for the site and the expected cost-sharing, if any, with other “potentially responsible parties,” and BMS accrues liabilities when they are probable and reasonably estimable. BMS estimated its share of future costs for these sites to be $77 million at March 31, 2021, which represents the sum of best estimates or, where no best estimate can reasonably be made, estimates of the minimal probable amount among a range of such costs (without taking into account any potential recoveries from other parties). The amount includes the estimated costs for any additional probable loss associated with the previously disclosed North Brunswick Township High School Remediation Site.
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BASIS OF PRESENTATION (Policies) |
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Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Consolidation, Policy [Policy Text Block] | Basis of Consolidation Bristol-Myers Squibb Company prepared these unaudited consolidated financial statements following the requirements of the SEC and U.S. GAAP for interim reporting. Under those rules, certain footnotes and other financial information that are normally required for annual financial statements can be condensed or omitted. The Company is responsible for the consolidated financial statements included in this Quarterly Report on Form 10-Q, which include all adjustments necessary for a fair presentation of the financial position at March 31, 2021 and December 31, 2020, the results of operations and cash flows for the three months ended March 31, 2021 and 2020. All intercompany balances and transactions have been eliminated. These financial statements and the related notes should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2020 included in the 2020 Form 10-K. Refer to the Summary of Abbreviated Terms at the end of this Quarterly Report on Form 10-Q for terms used throughout the document.
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Segment Reporting, Policy [Policy Text Block] | Business Segment Information BMS operates in a single segment engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of innovative medicines that help patients prevail over serious diseases. A global research and development organization and supply chain organization are responsible for the discovery, development, manufacturing and supply of products. Regional commercial organizations market, distribute and sell the products. The business is also supported by global corporate staff functions. Consistent with BMS’s operational structure, the Chief Executive Officer (“CEO”), as the chief operating decision maker, manages and allocates resources at the global corporate level. Managing and allocating resources at the global corporate level enables the CEO to assess both the overall level of resources available and how to best deploy these resources across functions, therapeutic areas, regional commercial organizations and research and development projects in line with our overarching long-term corporate-wide strategic goals, rather than on a product or franchise basis. The determination of a single segment is consistent with the financial information regularly reviewed by the CEO for purposes of evaluating performance, allocating resources, setting incentive compensation targets, and planning and forecasting future periods. For further information on product and regional revenue, see “—Note 2. Revenue.”
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Use of Estimates, Policy [Policy Text Block] | Use of Estimates and Judgments Revenues, expenses, assets and liabilities can vary during each quarter of the year. Accordingly, the results and trends in these unaudited consolidated financial statements may not be indicative of full year operating results. The preparation of financial statements requires the use of management estimates, judgments and assumptions. The most significant assumptions are estimates used in determining accounting for business combinations; impairments of intangible assets; sales rebate and return accruals; legal contingencies; and income taxes. Actual results may differ from estimates.
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Reclassification, Policy [Policy Text Block] | Reclassifications Certain reclassifications were made to conform the prior period consolidated financial statements to the current period presentation. Cash payments resulting for licensing arrangements, including upfront and contingent milestones previously included in operating activities in the consolidated statements of cash flows are now presented in investing activities. The adjustment resulted in an increase to net cash provided by operating activities and net cash used in investing activities of $43 million in the three months ended March 31, 2020. These reclassifications did not have an impact on net assets or net earnings.
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New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Standards In December 2019, the FASB issued amended guidance on the accounting and reporting of income taxes. The guidance is intended to simplify the accounting for income taxes by removing exceptions related to certain intraperiod tax allocations and deferred tax liabilities; clarifying guidance primarily related to evaluating the step-up tax basis for goodwill in a business combination; and reflecting enacted changes in tax laws or rates in the annual effective tax rate. BMS adopted the new guidance effective January 1, 2021. The amended guidance did not have a material impact on BMS’s results of operations.
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Revenue Recognition (Tables) |
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Disaggregation of Revenue [Table Text Block] | The following table summarizes the disaggregation of revenue by nature:
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Revenue Recognition Gross-To-Net Adjustments [Table Text Block] | The following table summarizes GTN adjustments:
(a) Includes adjustments for provisions for product sales made in prior periods resulting from changes in estimates of $217 million and $72 million for the three months ended March 31, 2021 and 2020, respectively.
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Revenue from External Customers by Products and Services [Table Text Block] | The following table summarizes the disaggregation of revenue by product and region:
(a) Other revenues include royalties and alliance-related revenues for products not sold by BMS’s regional commercial organizations.
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ALLIANCES (Tables) |
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ALLIANCES [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Table Text Block] | Selected financial information pertaining to alliances was as follows, including net product sales when BMS is the principal in the third-party customer sale for products subject to the alliance. Expenses summarized below do not include all amounts attributed to the activities for the products in the alliance, but only the payments between the alliance partners or the related amortization if the payments were deferred or capitalized.
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DIVESTITURES, LICENSING AND OTHER ARRANGEMENTS (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Acquisitions, Divestitures and Other Arrangements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disposal Groups, Including Discontinued Operations [Table Text Block] | The following table summarizes the financial impact of divestitures including royalties, which are included in Other (income)/expense, net. Revenue and pretax earnings related to all divestitures were not material in all periods presented (excluding divestiture gains or losses).
(a) Includes royalties received subsequent to the related sale of the asset or business.
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Licensing and Other Arrangements [Table Text Block] | The following table summarizes the financial impact of Keytruda* royalties, Tecentriq* royalties, up-front and milestone licensing fees for products that have not obtained commercial approval, which are included in Other (income)/expense, net.
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OTHER EXPENSE (INCOME), NET (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Other Nonoperating Income (Expense) [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Other Income Expense [Table Text Block] |
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RESTRUCTURING (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Restructuring Cost and Reserve [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring and Related Costs [Table Text Block] | The following provides the charges related to restructuring initiatives by type of cost:
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Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | The following summarizes the charges and spending related to restructuring plan activities:
(a) Includes the liability resulting from changes in estimates of $1 million and $4 million for the three months ended March 31, 2021 and 2020, respectively. Excludes $6 million and $18 million for the three months ended March 31, 2021 and 2020, respectively, of accelerated stock-based compensation relating to the Celgene Acquisition Plan.
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INCOME TAXES (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Provision for Income Taxes [Table Text Block] |
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EARNINGS PER SHARE (Tables) |
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Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] |
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FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables) |
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Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Financial assets and liabilities measured at fair value on a recurring basis are summarized below:
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Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | The fair value of other acquisition related contingent consideration as of March 31, 2021 was calculated using the following significant unobservable inputs:
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Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | The following table represents a roll-forward of the fair value of level 3 instruments:
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Available-for-sale Securities [Table Text Block] | The following table summarizes available-for-sale debt securities:
(a) All marketable debt securities mature within two years as of March 31, 2021 and December 31, 2020.
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Debt Securities, Trading, and Equity Securities, FV-NI [Table Text Block] | The following summarizes the activity related to equity investments. Changes in fair value of equity investments are included in Other (income)/expense, net.
(a) Net unrealized net gains/(losses) on equity investments still held were $381 million and $(228) million for the three months ended March 31, 2021 and 2020, respectively.
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Schedule of Equity Investments [Table Text Block] | The following summarizes the carrying amount of equity investments:
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Schedule of Derivatives and Fair Value [Table Text Block] | The following table summarizes the fair value of outstanding derivatives:
(a) Included in Other current assets and Other non-current assets. (b) Included in Other current liabilities and Other non-current liabilities.
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Derivative Instruments, Gain (Loss) [Table Text Block] | The following table summarizes the financial statement classification and amount of (gain)/loss recognized on hedging instruments:
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Gain/(Loss) on Hedging Activity [Table Text Block] | The following table summarizes the effect of derivative and non-derivative instruments designated as hedging instruments in Other Comprehensive Income/(Loss):
(a) The majority is expected to be reclassified into earnings in the next 12 months.
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Schedule of Short-term Debt [Table Text Block] | Short-term debt obligations include:
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Schedule of Fair Value and Other Adjustments to Long Term Debt [Table Text Block] | Long-term debt and the current portion of long-term debt include:
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RECEIVABLES (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accounts Receivable, after Allowance for Credit Loss [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Receivables [Table Text Block] |
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INVENTORIES (Tables) |
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Inventory, Net [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Inventories [Table Text Block] |
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PROPERTY, PLANT AND EQUIPMENT (Tables) |
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Property, Plant and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment [Table Text Block] |
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GOODWILL AND OTHER INTANGIBLE ASSETS (Tables) |
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Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Intangible Assets By Major Class [Table Text Block] |
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Supplemental Financial Information (Tables) |
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Supplemental Financial Information [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Other Current Assets [Table Text Block] |
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Schedule of Other Assets, Noncurrent [Table Text Block] |
(a) Restricted cash consists of funds restricted for annual Company contributions to the defined contribution plan in the U.S. and escrow for litigation settlements. Restricted cash of $339 million at March 31, 2021 and $429 million at March 31, 2020 was included in cash, cash equivalents and restricted cash in the consolidated statements of cash flows.
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Schedule of Other Current Liabilities [Table Text Block] |
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Other Noncurrent Liabilities [Table Text Block] |
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EQUITY (Tables) |
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Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Stock by Class [Table Text Block] | The following table summarizes changes in equity for the three months ended March 31, 2021:
(a) Cash dividends declared per common share were $0.49 for the three months ended March 31, 2021. The following table summarizes changes in equity for the three months ended March 31, 2020:
(a) Cash dividends declared per common share were $0.45 for the three months ended March 31, 2020.
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Schedule of Comprehensive Income Loss [Table Text Block] | The components of Other Comprehensive Income/(Loss) were as follows:
(a)Included in Cost of products sold. (b)Included in Other (income)/expense, net.
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Schedule of Accumulated Other Comprehensive Income Loss [Table Text Block] | The accumulated balances related to each component of Other Comprehensive Income/(Loss), net of taxes, were as follows:
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EMPLOYEE STOCK BENEFIT PLANS Employee Stock Benefit Plans (Tables) |
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Share-based Payment Arrangement, Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Payment Arrangement, Cost by Plan [Table Text Block] | Stock-based compensation expense was as follows:
(a) Income tax benefit excludes excess tax benefits from share-based compensation awards that were vested or exercised of $17 million and $23 million for the three months ended March 31, 2021 and 2020, respectively.
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Schedule Of Share Based Compensation Additional Information [Table Text Block] | The number of units granted and the weighted-average fair value on the grant date for the three months ended March 31, 2021 were as follows:
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Share-based Payment Arrangement, Nonvested Award, Cost [Table Text Block] |
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BASIS OF PRESENTATION (New Accounting Pronouncements) (Details) $ in Millions |
3 Months Ended |
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Mar. 31, 2020
USD ($)
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Licensing Arrangements Cash Flows Reclassification | |
Reclassification [Line Items] | |
Prior Period Reclassification Adjustment | $ 43 |
REVENUE RECOGNITION Revenue by Nature (Details) - USD ($) $ in Millions |
3 Months Ended | |
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Mar. 31, 2021 |
Mar. 31, 2020 |
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Disaggregation of Revenue [Line Items] | ||
Total Revenues | $ 11,073 | $ 10,781 |
Net product sales [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Total Revenues | 10,798 | 10,541 |
Other revenues [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Total Revenues | 133 | 135 |
Collaborative Arrangement [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Total Revenues | 3,024 | 2,828 |
Collaborative Arrangement [Member] | Net product sales [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Total Revenues | 2,882 | 2,723 |
Collaborative Arrangement [Member] | Collaborative Arrangement [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Total Revenues | $ 142 | $ 105 |
REVENUE RECOGNITION Gross-to-Net Adjustments (Details) - USD ($) $ in Millions |
3 Months Ended | |
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Mar. 31, 2021 |
Mar. 31, 2020 |
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Gross to Net Adjustments [Line Items] | ||
Total Revenues | $ 11,073 | $ 10,781 |
Gross to Net Adjustments | (4,761) | (4,145) |
Prior Period Gross to Net Adjustment Impacted by New Accounting Pronouncement | 217 | 72 |
Sales Revenue, Gross [Member] | ||
Gross to Net Adjustments [Line Items] | ||
Total Revenues | 15,559 | 14,686 |
Net product sales [Member] | ||
Gross to Net Adjustments [Line Items] | ||
Total Revenues | 10,798 | 10,541 |
Charge-backs and cash discounts [Member] | ||
Gross to Net Adjustments [Line Items] | ||
Gross to Net Adjustments | (1,586) | (1,340) |
Medicaid and Medicare rebates [Member] | ||
Gross to Net Adjustments [Line Items] | ||
Gross to Net Adjustments | (1,718) | (1,498) |
Other rebates, returns, discounts and adjustments [Member] | ||
Gross to Net Adjustments [Line Items] | ||
Gross to Net Adjustments | $ (1,457) | $ (1,307) |
REVENUE RECOGNITION Narratives (Details) - USD ($) $ in Millions |
3 Months Ended | |
---|---|---|
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Revenue, Performance Obligation [Abstract] | ||
Contract with Customer, Performance Obligation Satisfied in Previous Period | $ 284 | $ 130 |
DIVESTITURES (Details) - USD ($) $ in Millions |
3 Months Ended | |
---|---|---|
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Proceeds from Divestiture of Businesses, Net of Cash Divested | $ 180 | $ 195 |
Divestiture losses/(gains) | 0 | (16) |
Royalty Income, Nonoperating | (135) | (158) |
Diabetes business [Member] | ||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Proceeds from Divestiture of Businesses, Net of Cash Divested | 164 | 153 |
Divestiture losses/(gains) | 0 | 0 |
Royalty Income, Nonoperating | (134) | (127) |
Erbitux [Member] | ||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Proceeds from Divestiture of Businesses, Net of Cash Divested | 0 | 4 |
Divestiture losses/(gains) | 0 | 0 |
Royalty Income, Nonoperating | 0 | 0 |
Manufacturing Facility [Member] | ||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Proceeds from Divestiture of Businesses, Net of Cash Divested | 0 | 0 |
Divestiture losses/(gains) | 0 | (1) |
Royalty Income, Nonoperating | 0 | 0 |
Avapro, Avalide, and Plavix [Member] | ||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Proceeds from Divestiture of Businesses, Net of Cash Divested | 5 | 7 |
Divestiture losses/(gains) | 0 | (12) |
Royalty Income, Nonoperating | 0 | 0 |
Other divestitures [Member] | ||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Proceeds from Divestiture of Businesses, Net of Cash Divested | 11 | 31 |
Divestiture losses/(gains) | 0 | (3) |
Royalty Income, Nonoperating | $ (1) | $ (31) |
LICENSING AND OTHER ARRANGEMENTS (Details) - USD ($) $ in Millions |
3 Months Ended | |
---|---|---|
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Licensing Arrangements [Line Items] | ||
Amortization of Other Deferred Charges | $ (15) | $ (15) |
Licensing and Other Arrangements Income | (232) | (252) |
Royalty Income, Nonoperating | (135) | (158) |
Up-front Licensing Fee | 0 | (30) |
Contingent and Regulatory Milestone Income | 0 | (41) |
Other Royalties | ||
Licensing Arrangements [Line Items] | ||
Royalty Income, Nonoperating | (3) | (5) |
Keytruda Royalties | ||
Licensing Arrangements [Line Items] | ||
Royalty Income, Nonoperating | (192) | (161) |
Tecentriq royalties | ||
Licensing Arrangements [Line Items] | ||
Royalty Income, Nonoperating | (22) | 0 |
Diabetes business [Member] | ||
Licensing Arrangements [Line Items] | ||
Royalty Income, Nonoperating | $ (134) | $ (127) |
OTHER EXPENSE (INCOME), NET (Details) - USD ($) $ in Millions |
3 Months Ended | |
---|---|---|
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Other Nonoperating Income (Expense) [Abstract] | ||
Interest expense | $ 353 | $ 362 |
Contingent consideration | (510) | 556 |
Royalties and licensing income | (367) | (410) |
Equity investment (gains)/losses | (601) | 338 |
Integration expenses | 141 | 174 |
Provision for restructuring | 45 | 160 |
Litigation and other settlements | (8) | 32 |
Transition and other service fees | (15) | (61) |
Investment income | (9) | (61) |
Reversion excise tax | 0 | 76 |
Divestiture losses/(gains) | 0 | (16) |
Gain (Loss) on Extinguishment of Debt | 281 | 0 |
Other | (12) | 13 |
Other (income)/expense, net | $ (702) | $ 1,163 |
RESTRUCTURING NARRATIVE (Details) $ in Millions |
3 Months Ended | |
---|---|---|
Mar. 31, 2021
USD ($)
|
Mar. 31, 2020 |
|
Celgene Integration [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring and Related Cost, Expected Cost | $ 3,000 | |
Restructuring and Related Cost, Cost Incurred to Date | 2,100 | |
Cash outlays | $ 2,500 | |
Restructuring and Related Cost, Number of Positions Eliminated | 65 | 600 |
MyoKardia Acquisition Plan | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring and Related Cost, Expected Cost | $ 150 | |
Restructuring and Related Cost, Cost Incurred to Date | 76 | |
Operating Model 2020 [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring and Related Cost, Cost Incurred to Date | $ 1,500 |
RESTRUCTURING RESTRUCTURING AND RELATED COSTS TABLE (Details) - USD ($) $ in Millions |
3 Months Ended | |
---|---|---|
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Restructuring Cost and Reserve [Line Items] | ||
Employee termination costs | $ 44 | $ 149 |
Other termination costs | 1 | 11 |
Provision for restructuring | 45 | 160 |
Integration expenses | 141 | 174 |
Accelerated depreciation | 0 | 30 |
Asset impairment | 24 | 42 |
Total charges | 210 | 406 |
Cost of products sold [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Total charges | 24 | 16 |
Research and development [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Total charges | 0 | 56 |
Other (income)/expense,net [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Total charges | 186 | 334 |
Celgene Integration [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Total charges | 173 | 324 |
MyoKardia Acquisition Plan | ||
Restructuring Cost and Reserve [Line Items] | ||
Total charges | 37 | 0 |
Operating Model 2020 [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Total charges | $ 0 | $ 82 |
RESTRUCTURING SCHEDULE OF RESTRUCTURING RESERVE (Details) - USD ($) $ in Millions |
3 Months Ended | |||
---|---|---|---|---|
Mar. 31, 2021 |
Mar. 31, 2020 |
Jan. 01, 2021 |
Jan. 01, 2020 |
|
Restructuring Liability | $ 126 | $ 141 | $ 148 | $ 100 |
Change in estimates | (1) | (4) | ||
Restructuring Charges Exclude Accelerated Stock-Based Compensation | 39 | 142 | ||
Provision for restructuring | 45 | 160 | ||
Foreign currency translation and other | (2) | 6 | ||
Payments | (59) | (107) | ||
Celgene Integration [Member] | Accelerated Stock Based Compensation [Member] | ||||
Provision for restructuring | $ 6 | $ 18 |
INCOME TAXES (Details) - USD ($) $ in Millions |
3 Months Ended | |
---|---|---|
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Income Tax Disclosure [Line Items] | ||
Earnings Before Income Taxes | $ 2,530 | $ (304) |
Provision for Income Taxes | $ 501 | $ 462 |
Effective Tax Rate | 19.80% | (152.00%) |
Minimum [Member] | ||
Income Tax Disclosure [Line Items] | ||
Decrease in Unrecognized Tax Benefits is Reasonably Possible | $ 460 | |
Maximum [Member] | ||
Income Tax Disclosure [Line Items] | ||
Decrease in Unrecognized Tax Benefits is Reasonably Possible | $ 510 |
EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions |
3 Months Ended | |
---|---|---|
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Earnings Per Share [Abstract] | ||
Net (Loss)/Earnings Attributable to BMS Used for Basic and Diluted EPS Calculation | $ 2,021 | $ (775) |
Weighted-average common shares outstanding - basic | 2,236 | 2,258 |
Incremental shares attributable to share-based compensation plans | 29 | 0 |
Weighted-average common shares outstanding - diluted | 2,265 | 2,258 |
Earnings Per Share, Basic | $ 0.90 | $ (0.34) |
Earnings Per Share, Diluted | $ 0.89 | $ (0.34) |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 14 | 138 |
FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Fair Value Measurement) (Details) $ in Millions |
3 Months Ended | |||
---|---|---|---|---|
Mar. 31, 2021
USD ($)
yr
percentage
|
Mar. 31, 2020
USD ($)
|
Dec. 31, 2020
USD ($)
|
Dec. 31, 2019
USD ($)
|
|
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Debt Securities, Available-for-sale | $ 2,236 | $ 1,718 | ||
Equity Securities, FV-NI | 3,256 | 3,452 | ||
Contingent consideration fair value adjustments | (510) | $ 556 | ||
Debt Securities, Available-for-sale, Amortized Cost | 2,225 | 1,704 | ||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 11 | 14 | ||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 | ||
Equity Securities without Readily Determinable Fair Value, Amount | 616 | 694 | ||
Equity Securities without Readily Determinable Fair Value, Upward Price Adjustment, Annual Amount | 31 | 75 | ||
Equity Securities without Readily Determinable Fair Value, Downward Price Adjustment, Annual Amount | (1) | (188) | ||
Equity Securities, FV-NI, Realized Gain (Loss) | (3) | 0 | ||
Equity Securities, FV-NI, Unrealized Gain (Loss) | 437 | (228) | ||
Equity Securities, FV-NI, Equity Securities Without Readily Determinable Fair Value, and Equity Method Investments | 4,555 | 4,695 | ||
Equity Securities without Readily Determinable Fair Value, Upward Price Adjustment, Cumulative Amount | 218 | |||
Equity Securities without Readily Determinable Fair Value, Impairment Loss, Cumulative Amount | (167) | |||
Unrealized Gain (Loss) on Investments | 381 | (228) | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 | ||
Derivative asset | 0 | 0 | ||
Derivative Liability | 0 | 0 | ||
Contingent consideration fair value | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash and Cash Equivalents, Fair Value Disclosure | 8,381 | 12,361 | ||
Derivative asset | 165 | 42 | ||
Derivative Liability | (72) | (270) | ||
Contingent consideration fair value | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 | ||
Derivative asset | 27 | 27 | ||
Derivative Liability | 0 | 0 | ||
Contingent consideration fair value | 79 | 69 | 78 | $ 106 |
Contingent consideration fair value adjustments | 3 | (36) | ||
Business Combination, Contingent Consideration Arrangements, Change in Amount of Due to Foreign Exchange, Liability | (2) | $ (1) | ||
Certificates of Deposit [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Debt Securities, Available-for-sale | 1,633 | 1,020 | ||
Debt Securities, Available-for-sale, Amortized Cost | 1,633 | 1,020 | ||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 | ||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 | ||
Certificates of Deposit [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Debt Securities, Available-for-sale | 0 | 0 | ||
Certificates of Deposit [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Debt Securities, Available-for-sale | 1,633 | 1,020 | ||
Certificates of Deposit [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Debt Securities, Available-for-sale | 0 | 0 | ||
Corporate Debt Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Debt Securities, Available-for-sale | 603 | 698 | ||
Debt Securities, Available-for-sale, Amortized Cost | 592 | 684 | ||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 11 | 14 | ||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 | ||
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Debt Securities, Available-for-sale | 0 | 0 | ||
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Debt Securities, Available-for-sale | 603 | 698 | ||
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Debt Securities, Available-for-sale | 0 | 0 | ||
Other Assets [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Equity Securities, FV-NI | 3,094 | 3,314 | ||
Other Assets [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Equity Securities, FV-NI | 162 | 138 | ||
Other Assets [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Equity Securities, FV-NI | 0 | 0 | ||
Portion at Other than Fair Value Measurement [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Equity Method Investments | 683 | 549 | ||
Contingent Value Rights [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Contingent consideration fair value | 9 | 530 | ||
Contingent Value Rights [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Contingent consideration fair value | 0 | 0 | ||
Contingent Value Rights [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Contingent consideration fair value | $ 0 | $ 0 | ||
Probability of payment [Member] | Maximum [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Debt Instrument, Measurement Input | percentage | 1 | |||
Probability of payment [Member] | Weighted Average [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Debt Instrument, Measurement Input | percentage | 0.028 | |||
Probability of payment [Member] | Minimum [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Debt Instrument, Measurement Input | percentage | 0 | |||
Measurement Input, Discount Rate [Member] | Maximum [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Debt Instrument, Measurement Input | percentage | 0.008 | |||
Measurement Input, Discount Rate [Member] | Weighted Average [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Debt Instrument, Measurement Input | percentage | 0.004 | |||
Measurement Input, Discount Rate [Member] | Minimum [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Debt Instrument, Measurement Input | percentage | 0.002 | |||
Projected Year of Payments | Maximum [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Business Combination, Contingent Consideration, Liability, Measurement Input [Extensible List] | yr | 2,025 | |||
Projected Year of Payments | Minimum [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Business Combination, Contingent Consideration, Liability, Measurement Input [Extensible List] | yr | 2,021 |
FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Derivatives and Hedging) (Details) € in Millions, $ in Millions |
3 Months Ended | |||
---|---|---|---|---|
Mar. 31, 2021
USD ($)
|
Mar. 31, 2020
USD ($)
|
Mar. 31, 2021
EUR (€)
|
Dec. 31, 2020
USD ($)
|
|
Derivative [Line Items] | ||||
Debt Instrument, Face Amount | $ 44,646.0 | $ 48,711.0 | ||
Derivative, Basis Spread on Variable Rate | 4.60% | 4.60% | ||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | $ 259.0 | $ 97.0 | ||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 36.0 | (20.0) | ||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss), before Reclassification and Tax | 9.0 | (110.0) | ||
Designated as Hedging Instrument [Member] | ||||
Derivative [Line Items] | ||||
Debt Instrument, Face Amount | 1,100.0 | € 950 | ||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss), before Reclassification and Tax | 41.0 | 20.0 | ||
Interest Rate Swap [Member] | ||||
Derivative [Line Items] | ||||
Derivative Liability | 14.0 | 24.0 | ||
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | ||||
Derivative [Line Items] | ||||
Derivative asset | 14.0 | 24.0 | ||
Derivative Liability | 0.0 | 0.0 | ||
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Assets [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Notional Amount | 255.0 | 255.0 | ||
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Liability [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Notional Amount | 0.0 | 0.0 | ||
Cross Currency Interest Rate Contract [Member] | ||||
Derivative [Line Items] | ||||
Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), before Reclassification and Tax | 26.0 | 6.0 | ||
Cross Currency Interest Rate Contract [Member] | Designated as Hedging Instrument [Member] | ||||
Derivative [Line Items] | ||||
Derivative asset | 16.0 | 0.0 | ||
Derivative Liability | 0.0 | (10.0) | ||
Cross Currency Interest Rate Contract [Member] | Designated as Hedging Instrument [Member] | Assets [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Notional Amount | 400.0 | 0.0 | ||
Cross Currency Interest Rate Contract [Member] | Designated as Hedging Instrument [Member] | Liability [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Notional Amount | 0.0 | 400.0 | ||
Foreign Exchange Forward [Member] | ||||
Derivative [Line Items] | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | 259.0 | 97.0 | ||
Foreign Exchange Forward [Member] | Designated as Hedging Instrument [Member] | ||||
Derivative [Line Items] | ||||
Derivative asset | 118.0 | 1.0 | ||
Derivative Liability | (64.0) | (259.0) | ||
Foreign Exchange Forward [Member] | Designated as Hedging Instrument [Member] | Assets [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Notional Amount | 3,873.0 | 231.0 | ||
Foreign Exchange Forward [Member] | Designated as Hedging Instrument [Member] | Liability [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Notional Amount | 1,688.0 | 5,813.0 | ||
Foreign Exchange Forward [Member] | Not Designated as Hedging Instrument [Member] | ||||
Derivative [Line Items] | ||||
Derivative asset | 17.0 | 17.0 | ||
Derivative Liability | (8.0) | (1.0) | ||
Foreign Exchange Forward [Member] | Not Designated as Hedging Instrument [Member] | Assets [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Notional Amount | 809.0 | 1,104.0 | ||
Foreign Exchange Forward [Member] | Not Designated as Hedging Instrument [Member] | Liability [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Notional Amount | 539.0 | 336.0 | ||
Other Contract | Not Designated as Hedging Instrument [Member] | ||||
Derivative [Line Items] | ||||
Derivative asset | 27.0 | 27.0 | ||
Derivative Liability | 0.0 | 0.0 | ||
Other Contract | Not Designated as Hedging Instrument [Member] | Assets [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Notional Amount | 0.0 | 0.0 | ||
Other Contract | Not Designated as Hedging Instrument [Member] | Liability [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Notional Amount | 0.0 | $ 0.0 | ||
Euro Member Countries, Euro | Foreign Exchange Forward [Member] | Designated as Hedging Instrument [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Notional Amount | 3,300.0 | |||
Japan, Yen | Cross Currency Interest Rate Contract [Member] | Designated as Hedging Instrument [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Notional Amount | 400.0 | |||
Japan, Yen | Foreign Exchange Forward [Member] | Designated as Hedging Instrument [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Notional Amount | 1,100.0 | |||
Cost of products sold [Member] | Interest Rate Swap [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Gain (Loss) on Derivative, Net | 0.0 | 0.0 | ||
Cost of products sold [Member] | Cross Currency Interest Rate Contract [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Gain (Loss) on Derivative, Net | 0.0 | 0.0 | ||
Cost of products sold [Member] | Foreign Exchange Forward [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Gain (Loss) on Derivative, Net | 67.0 | (23.0) | ||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 36.0 | (20.0) | ||
Cost of products sold [Member] | Zero Cost Collar Currency Contracts | ||||
Derivative [Line Items] | ||||
Derivative, Gain (Loss) on Derivative, Net | 0.0 | 0.0 | ||
Other (Income)/expense, net [Member] | Interest Rate Swap [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Gain (Loss) on Derivative, Net | (8.0) | (7.0) | ||
Other (Income)/expense, net [Member] | Cross Currency Interest Rate Contract [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Gain (Loss) on Derivative, Net | (3.0) | (2.0) | ||
Other (Income)/expense, net [Member] | Foreign Exchange Forward [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Gain (Loss) on Derivative, Net | (32.0) | (76.0) | ||
Other (Income)/expense, net [Member] | Zero Cost Collar Currency Contracts | ||||
Derivative [Line Items] | ||||
Derivative, Gain (Loss) on Derivative, Net | $ 0.0 | $ (9.0) | ||
London Interbank Offered Rate (LIBOR) [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Variable Interest Rate | 0.11% | 0.11% |
FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Debt) (Details) $ in Millions |
3 Months Ended | ||
---|---|---|---|
Mar. 31, 2021
USD ($)
|
Mar. 31, 2020
USD ($)
|
Dec. 31, 2020
USD ($)
|
|
Debt Instrument [Line Items] | |||
Short-term Bank Loans and Notes Payable | $ 167 | $ 176 | |
Current portion of long-term debt | 1,500 | 2,000 | |
Other Short-term Borrowings | 110 | 164 | |
Bank drafts and short-term borrowings | 1,777 | 2,340 | |
Debt Instrument, Face Amount | 44,646 | 48,711 | |
Adjustments to Principal Value, Unamortized basis adjustment from swap terminations | 137 | 149 | |
Debt Instrument, Unamortized Discount | (287) | (303) | |
Debt Instrument, Unamortized Premium | 1,495 | 1,755 | |
Total Debt | 46,005 | 50,336 | |
Long-term debt | 44,505 | 48,336 | |
Long-term debt, fair value | 50,300 | 58,500 | |
Interest payments | 435 | $ 491 | |
Line of Credit Facility, Maximum Borrowing Capacity | $ 6,000 | ||
Number of Revolving Credit Facilities | 4 | ||
Payment for Debt Extinguishment or Debt Prepayment Cost | $ 4,000 | ||
Unrealized Gain (Loss) on Investments | 381 | (228) | |
Gain (Loss) on Extinguishment of Debt | 281 | $ 0 | |
Extinguishment of Debt, Amount | 3,500 | ||
Interest Rate Swap [Member] | |||
Debt Instrument [Line Items] | |||
Derivative Liability | 14 | $ 24 | |
2.875% Senior Notes due 2021 | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Face Amount | 500 | ||
$2 Billion Maximum Borrowing Capacity | |||
Debt Instrument [Line Items] | |||
Line of Credit Facility, Maximum Borrowing Capacity | 2,000 | ||
$1 Billion Maximum Borrowing Capacity | |||
Debt Instrument [Line Items] | |||
Line of Credit Facility, Maximum Borrowing Capacity | 1,000 | ||
$1.5 Billion Maximum Borrowing Capacity | |||
Debt Instrument [Line Items] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 1,500 |
RECEIVABLES (Details) $ in Millions |
3 Months Ended | ||
---|---|---|---|
Mar. 31, 2021
USD ($)
|
Mar. 31, 2020
USD ($)
|
Dec. 31, 2020
USD ($)
|
|
Account Receivables [Line Items] | |||
Trade receivables | $ 7,767 | $ 7,882 | |
Less charge-backs and cash discounts | (564) | (645) | |
Less allowances for expected credit loss | (16) | (18) | |
Net trade receivables | 7,187 | 7,219 | |
Alliance, royalties, VAT and other | 1,473 | 1,282 | |
Receivables | 8,660 | $ 8,501 | |
Non-U.S. receivables sold on a nonrecourse basis | $ 318 | $ 180 | |
Number Of Largest Pharmaceutical Wholesalers | 3 | ||
Customer Concentration Risk [Member] | |||
Account Receivables [Line Items] | |||
Percent of aggregate total trade receivables due from three pharmaceutical wholesalers | 57.00% | 55.00% |
INVENTORIES (Details) - USD ($) $ in Millions |
Mar. 31, 2021 |
Dec. 31, 2020 |
---|---|---|
Finished goods | $ 806 | $ 932 |
Work in process | 1,943 | 2,015 |
Raw and packaging materials | 219 | 207 |
Total inventories | 2,968 | 3,154 |
Inventories | 1,953 | 2,074 |
Inventories - other assets | 1,015 | 1,080 |
Inventory purchase price fair value adjustment [Member] | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory | $ 695 | $ 774 |
PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Millions |
3 Months Ended | ||
---|---|---|---|
Mar. 31, 2021 |
Mar. 31, 2020 |
Dec. 31, 2020 |
|
Property, Plant and Equipment [Abstract] | |||
Land | $ 169 | $ 189 | |
Buildings | 5,612 | 5,732 | |
Machinery and equipment and fixtures | 3,093 | 3,063 | |
Construction in progress | 519 | 487 | |
Gross property, plant and equipment | 9,393 | 9,471 | |
Less accumulated depreciation | (3,630) | (3,585) | |
Property, plant and equipment | 5,763 | $ 5,886 | |
Depreciation expense | $ 135 | $ 170 |
GOODWILL AND OTHER INTANGIBLE ASSETS (Details) - USD ($) $ in Millions |
3 Months Ended | ||
---|---|---|---|
Mar. 31, 2021 |
Mar. 31, 2020 |
Dec. 31, 2020 |
|
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Goodwill | $ 20,524 | $ 20,547 | |
Gross other intangible assets | 66,986 | 66,859 | |
Less: accumulated amortization | (16,167) | (13,616) | |
Other intangible assets | 50,819 | 53,243 | |
Amortization expense | 2,600 | $ 2,300 | |
Acquired Developed Product Rights Reclassed From IPRD | 1,500 | ||
Contingent and Regulatory Milestone, Non-Cash | 300 | ||
Inrebic [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Impairment of Intangible Assets (Excluding Goodwill) | 315 | ||
Finite-Lived Intangible Assets, Period Increase (Decrease) | 385 | ||
Licenses [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Net | 328 | 328 | |
Acquired developed product rights [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Net | 60,710 | 59,076 | |
Capitalized software [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Net | 1,358 | 1,325 | |
In Process Research and Development [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
In-process research and development | $ 4,590 | $ 6,130 | |
Minimum [Member] | Licenses [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 5 years | ||
Minimum [Member] | Acquired developed product rights [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 3 years | ||
Minimum [Member] | Capitalized software [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 3 years | ||
Maximum [Member] | Licenses [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 15 years | ||
Maximum [Member] | Acquired developed product rights [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 15 years | ||
Maximum [Member] | Capitalized software [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 10 years |
SUPPLEMENTAL FINANCIAL INFORMATION Other Current Assets (Details) - USD ($) $ in Millions |
Mar. 31, 2021 |
Dec. 31, 2020 |
---|---|---|
Other Current Assets [Abstract] | ||
Prepaid and refundable income taxes | $ 1,637 | $ 1,799 |
Research and Development | 555 | 492 |
Equity investments | 207 | 619 |
Other | 1,029 | 787 |
Other current assets | 3,568 | 3,786 |
Restricted Cash | 339 | 429 |
Other current assets | 3,568 | 3,786 |
Other Current Assets [Member] | ||
Restricted Cash | $ 140 | $ 89 |
SUPPLEMENTAL FINANCIAL INFORMATION Other Non-Current Assets (Details) - USD ($) $ in Millions |
Mar. 31, 2021 |
Dec. 31, 2020 |
---|---|---|
Other Non-Current Assets [Abstract] | ||
Equity investments | $ 4,348 | $ 4,076 |
Inventories | 1,015 | 1,080 |
Operating leases | 850 | 859 |
Pension and postretirement | 216 | 208 |
Restricted cash - non current | 199 | 338 |
Other | 509 | 458 |
Other non-current assets | 7,137 | 7,019 |
Restricted Cash | $ 339 | $ 429 |
SUPPLEMENTAL FINANCIAL INFORMATION Other Current Liabilities (Details) - USD ($) $ in Millions |
Mar. 31, 2021 |
Dec. 31, 2020 |
---|---|---|
Other Liabilities, Current [Abstract] | ||
Rebates and returns | $ 5,410 | $ 5,688 |
Income taxes payable | 716 | 647 |
Employee compensation and benefits | 793 | 1,412 |
Research and development | 1,407 | 1,423 |
Dividends | 1,118 | 1,129 |
Interest | 387 | 434 |
Royalties | 334 | 461 |
Operating leases | 160 | 164 |
Other | 2,256 | 2,154 |
Other current liabilities | 12,581 | 14,027 |
Other Current Liabilities [Member] | Contingent Value Rights [Member] | ||
Contingent value rights | $ 0 | $ 515 |
SUPPLEMENTAL FINANCIAL INFORMATION Other Non-Current Liabilities (Details) - USD ($) $ in Millions |
Mar. 31, 2021 |
Dec. 31, 2020 |
---|---|---|
Income taxes payable | $ 5,015 | $ 5,017 |
Pension and postretirement | 838 | 899 |
Operating leases | 827 | 833 |
Deferred Income | 340 | 357 |
Deferred compensation | 396 | 344 |
Other | 276 | 326 |
Other non-current liabilities | $ 7,692 | $ 7,776 |
EQUITY (Changes in Equity) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions |
3 Months Ended | ||
---|---|---|---|
Mar. 31, 2021 |
Mar. 31, 2020 |
Dec. 31, 2020 |
|
Common Stock, Dividends, Per Share, Declared | $ 0.49 | $ 0.45 | |
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 4,600.0 | $ 4,400.0 | |
Stock Repurchase Program, Authorized Amount | 2,000.0 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||
Common Stock, Value, Issued, Balance at Beginning of Period | 292.0 | ||
Common Stock, Value, Issued, Balance at End of Period | 292.0 | ||
Capital in Excess of Par Value of Stock, Balance at Beginning of Period | 44,325.0 | ||
Capital in Excess of Par Value of Stock, Balance at End of Period | 43,852.0 | ||
Accumulated Other Comprehensive Loss, Balance at Beginning of Period | (1,839.0) | ||
Other Comprehensive (Loss)/Income | 295.0 | $ (29.0) | |
Accumulated Other Comprehensive Loss, Balance at End of Period | (1,544.0) | ||
Retained Earnings, Balance at Beginning of Period | 21,281.0 | ||
Net (Loss)/Earnings Attributable to BMS | 2,021.0 | (775.0) | |
Retained Earnings, Balance at End of Period | 22,204.0 | ||
Cost of Treasury Stock, Balance at Beginning of Period | (26,237.0) | ||
Cost of Treasury Stock, Balance at End of Period | (27,199.0) | ||
Noncontrolling interest | 60.0 | ||
Noncontrolling Interest | (8.0) | $ (9.0) | |
Noncontrolling interest | $ 68.0 | ||
Stock repurchase program, Shares | 28.0 | 1.4 | |
Stock Repurchased During Period, Value | $ 1,800.0 | $ 81.0 | |
Common Stock [Member] | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||
Common Stock, Shares Issued, Balance at Beginning of Period | 2,923.0 | 2,923.0 | |
Common Stock, Shares Issued, Balance at End of Period | 2,923.0 | 2,923.0 | |
Common Stock, Value, Issued, Balance at Beginning of Period | $ 292.0 | $ 292.0 | |
Common Stock, Value, Issued, Balance at End of Period | 292.0 | 292.0 | |
Capital in Excess of Par Value of Stock [Member] | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||
Capital in Excess of Par Value of Stock, Balance at Beginning of Period | 44,325.0 | 43,709.0 | |
Stock compensation | (473.0) | (455.0) | |
Capital in Excess of Par Value of Stock, Balance at End of Period | 43,852.0 | 43,254.0 | |
Accumulated Other Comprehensive Loss | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||
Accumulated Other Comprehensive Loss, Balance at Beginning of Period | (1,839.0) | (1,520.0) | |
Other Comprehensive (Loss)/Income | 295.0 | (29.0) | |
Accumulated Other Comprehensive Loss, Balance at End of Period | (1,544.0) | (1,549.0) | |
Retained Earnings [Member] | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||
Retained Earnings, Balance at Beginning of Period | 21,281.0 | 34,474.0 | |
Net (Loss)/Earnings Attributable to BMS | 2,021.0 | (775.0) | |
Cash dividends declared | (1,098.0) | (1,028.0) | |
Retained Earnings, Balance at End of Period | $ 22,204.0 | $ 32,671.0 | |
Treasury Stock [Member] | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||
Treasury Stock, Shares, Balance at Beginning of Period | 679.0 | 672.0 | |
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation | (15.0) | (13.0) | |
Treasury Stock, Shares, Balance at End of Period | 692.0 | 660.0 | |
Cost of Treasury Stock, Balance at Beginning of Period | $ (26,237.0) | $ (25,357.0) | |
Employee stock compensation plans, Cost | 806.0 | 681.0 | |
Cost of Treasury Stock, Balance at End of Period | $ (27,199.0) | $ (24,757.0) | |
Stock repurchase program, Shares | 28.0 | 1.0 | |
Stock Repurchased During Period, Value | $ 1,768.0 | $ 81.0 | |
Noncontrolling Interest [Member] | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||
Noncontrolling interest | 60.0 | 100.0 | |
Noncontrolling Interest | 8.0 | 9.0 | |
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | (43.0) | ||
Noncontrolling interest | $ 68.0 | $ 66.0 |
EQUITY (Other Comprehensive Income/(Loss)) (Details) - USD ($) $ in Millions |
3 Months Ended | ||
---|---|---|---|
Mar. 31, 2021 |
Mar. 31, 2020 |
Dec. 31, 2020 |
|
Other Comprehensive Income (Loss), before Tax [Abstract] | |||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | $ 259 | $ 97 | |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 36 | (20) | |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, before Tax | 295 | 77 | |
Pension and postretirement benefits - Actuarial gains/(losses), Pre-tax | 21 | 8 | |
Pension and postretirement benefits - Amortization, Pre-tax | 9 | 9 | |
Pension and postretirement benefits - Curtailments and settlements, Pre-Tax | 1 | 2 | |
Pension and postretirement benefits, Pre-tax | 31 | 19 | |
Other Comprehensive Income (Loss), Securities, Available-for-sale, Adjustment, before Tax | (3) | 2 | |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss), before Reclassification and Tax | 9 | (110) | |
Other Comprehensive Income/(Loss), Pre-tax | 332 | (12) | |
Other Comprehensive Income (Loss), Tax, Parenthetical Disclosures [Abstract] | |||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax | (11) | (10) | |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax | (4) | 3 | |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, Tax | (15) | (7) | |
Pension and postretirement benefits - Actuarial gains/(losses), Tax | (5) | (2) | |
Pension and postretirement benefits - Amortization, Tax | (3) | (1) | |
Pension and postretirement benefits - Curtailments and settlements, Tax | 0 | 0 | |
Pension and postretirement benefits, Tax | (8) | (3) | |
OCI, Debt Securities, Available-for-Sale, Gain (Loss), after Adjustment, Tax | 1 | (1) | |
Foreign currency translation, Tax | (15) | (6) | |
Other comprehensive income/(loss), Tax | (37) | (17) | |
Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax | 248 | 87 | |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax | 32 | (17) | |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax | 280 | 70 | |
Pension and postretirement benefits - Actuarial gains/(losses), After tax | 16 | 6 | |
Pension and postretirement benefits - Amortization, After tax | 6 | 8 | |
Pension and postretirement benefits - Curtailments and settlements, After tax | 1 | 2 | |
Pension and postretirement benefits, After tax | 23 | 16 | |
Other Comprehensive Income (Loss), Securities, Available-for-sale, Adjustment, after Tax | (2) | 1 | |
Foreign currency translation | (6) | (116) | |
Other Comprehensive (Loss)/Income | 295 | $ (29) | |
Derivatives qualifying as cash flow hedges | 43 | $ (237) | |
Pension and postretirement benefits | (951) | (974) | |
Available-for-sale securities | 9 | 11 | |
Foreign currency translation | (645) | (639) | |
Accumulated other comprehensive loss | $ (1,544) | $ (1,839) |
EMPLOYEE STOCK BENEFIT PLANS Share-based Payment Arrangement, Cost by Plan (Details) - USD ($) $ in Millions |
3 Months Ended | |
---|---|---|
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Share-based Payment Arrangement, Expense | $ 151 | $ 210 |
Share-based Payment Arrangement, Expense, Tax Benefit | 31 | 46 |
Proceeds and Excess Tax Benefit from Share-based Compensation | 17 | 23 |
Cost of products sold [Member] | ||
Share-based Payment Arrangement, Expense | 15 | 10 |
Marketing, selling and administrative [Member] | ||
Share-based Payment Arrangement, Expense | 60 | 88 |
Research and development [Member] | ||
Share-based Payment Arrangement, Expense | 70 | 94 |
Other (Income)/expense, net [Member] | ||
Share-based Payment Arrangement, Expense | $ 6 | $ 18 |
EMPLOYEE STOCK BENEFIT PLANS Schedule Of Share Based Compensation Additional Information (Details) shares in Millions |
3 Months Ended |
---|---|
Mar. 31, 2021
$ / shares
shares
| |
Restricted Stock Units (RSUs) [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares | 7.4 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares | $ 56.21 |
Market share units [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares | 1.0 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares | $ 58.04 |
Performance Shares [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares | 1.5 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares | $ 59.04 |
EMPLOYEE STOCK BENEFIT PLANS Share-based Payment Arrangement, Nonvested Award, Cost (Details) $ in Millions |
3 Months Ended |
---|---|
Mar. 31, 2021
USD ($)
| |
Share-based Payment Arrangement, Option [Member] | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 29 |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 1 year 1 month 6 days |
Restricted Stock Units (RSUs) [Member] | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 1,079 |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 2 years 10 months 24 days |
Market share units [Member] | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 87 |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 3 years 4 months 24 days |
Performance Shares [Member] | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 144 |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 2 years 2 months 12 days |
LEGAL PROCEEDINGS AND CONTINGENCIES (Details) |
3 Months Ended |
---|---|
Mar. 31, 2021
USD ($)
lawsuits
numberOfPlaintiffs
| |
Anti-PD-1 Antibody Litigation [Member] | |
Legal Proceedings And Contingencies [Line Items] | |
Loss Contingency, Patents Allegedly Infringed, Number | 6 |
Eliquis Patent Litigation [Member] | |
Legal Proceedings And Contingencies [Line Items] | |
Loss Contingency, Patents Allegedly Infringed, Number | 2 |
Loss Contingency, Number of Plaintiffs | 25 |
Plavix Australia Intellectual Property [Member] | Australia, Dollars | |
Legal Proceedings And Contingencies [Line Items] | |
Loss contingency, Estimate of possible loss | $ | $ 449,000,000 |
Plavix Australia Intellectual Property [Member] | United States of America, Dollars | |
Legal Proceedings And Contingencies [Line Items] | |
Loss contingency, Estimate of possible loss | $ | $ 340,000,000 |
Abilify Product Liability [Member] | |
Legal Proceedings And Contingencies [Line Items] | |
Loss Contingency, Pending Claims, Number | 20 |
Byetta Product Liability Litigation [Member] | |
Legal Proceedings And Contingencies [Line Items] | |
Loss Contingency, Number of Plaintiffs | numberOfPlaintiffs | 2,250 |
Loss Contingency, Pending Claims, Number | 590 |
Securities Litigation [Member] | |
Legal Proceedings And Contingencies [Line Items] | |
Loss Contingency, Pending Claims, Number | 2 |
Cercla Matters [Member] | |
Legal Proceedings And Contingencies [Line Items] | |
Loss contingency, Estimate of possible loss | $ | $ 77,000,000 |
Abilify Product Liability Litigation | |
Legal Proceedings And Contingencies [Line Items] | |
Loss Contingency, Pending Claims, Number | 2,500 |
Abilify Product Liability Litigation | Dismissed | |
Legal Proceedings And Contingencies [Line Items] | |
Loss Contingency, Number of Plaintiffs | numberOfPlaintiffs | 3,900 |
Loss Contingency, Pending Claims, Number | 2,700 |
Onglyza Product Liability Litigation | |
Legal Proceedings And Contingencies [Line Items] | |
Loss Contingency, Number of Plaintiffs | numberOfPlaintiffs | 280 |
Celgene Securities Litigation | |
Legal Proceedings And Contingencies [Line Items] | |
Loss Contingency, Pending Claims, Number | 2 |
Upfront, milestone and other licensing receipts [Member] | CAR T Kite Litigation [Member] | |
Legal Proceedings And Contingencies [Line Items] | |
Loss contingency, Estimate of possible loss | $ | $ 1,200,000,000 |
Royalty [Member] | CAR T Kite Litigation [Member] | |
Legal Proceedings And Contingencies [Line Items] | |
Loss contingency, Estimate of possible loss | $ | $ 0.276 |