Edwards Lifesciences (EW) 10-Q 4 Aug 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Jun. 30, 2014	Jul. 31, 2014
Document and Entity Information	'	'
Entity Registrant Name	'Edwards Lifesciences Corp	'
Entity Central Index Key	'0001099800	'
Document Type	'10-Q	'
Document Period End Date	30-Jun-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--12-31	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	106,033,418
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'

CONSOLIDATED_CONDENSED_BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Current assets	'	'
Cash and cash equivalents	$498.60	$420.40
Short-term investments (Note 6)	985.5	516.5
Accounts and other receivables, net of allowances of $5.6 and $5.4, respectively	327.5	328
Inventories (Note 5)	317.1	308.9
Deferred income taxes	42.8	33.4
Prepaid expenses	46.3	46.8
Other current assets	60.3	71.8
Total current assets	2,278.10	1,725.80
Long-term accounts receivable, net of allowances of $6.7 and $6.8, respectively	7.6	7.3
Long-term investments (Note 6)	99	21.9
Property, plant and equipment, net	422.5	421.6
Goodwill	384.3	385.4
Other intangible assets, net (Note 7)	29.5	33.5
Deferred income taxes	69.9	79
Other assets	35.7	35.4
Total assets	3,326.60	2,709.90
Current liabilities	'	'
Accounts payable and accrued liabilities	540.5	345.6
Long-term debt (Note 8)	598	593.1
Other long-term liabilities	273.2	226.8
Commitments and contingencies (Note 13)	'	'
Stockholders' equity	'	'
Preferred stock, $.01 par value, authorized 50.0 shares, no shares outstanding	'	'
Common stock, $1.00 par value, 350.0 shares authorized, 127.1 and 126.0 shares issued, and 106.0 and 109.3 shares outstanding, respectively	127.1	126
Additional paid-in capital	747.4	671.2
Retained earnings	2,638.10	2,030.80
Accumulated other comprehensive loss	-41.1	-27.6
Treasury stock, at cost, 21.1 and 16.7 shares, respectively	-1,556.60	-1,256
Total stockholders' equity	1,914.90	1,544.40
Total liabilities and stockholders' equity	$3,326.60	$2,709.90

CONSOLIDATED_CONDENSED_BALANCE1

CONSOLIDATED CONDENSED BALANCE SHEETS (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Millions, except Per Share data, unless otherwise specified
CONSOLIDATED CONDENSED BALANCE SHEETS	'	'
Accounts and other receivables, allowances	$5.60	$5.40
Long-term accounts receivable, allowances	$6.70	$6.80
Preferred stock, par value (in dollars per share)	$0.01	$0.01
Preferred stock, authorized shares	50	50
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$1	$1
Common stock, shares authorized	350	350
Common stock, shares issued	127.1	126
Common stock, shares outstanding	106	109.3
Treasury stock, shares	21.1	16.7

CONSOLIDATED_CONDENSED_STATEME

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		6 Months Ended
In Millions, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS	'	'	'	'
Net sales	$575.10	$517.20	$1,097.50	$1,013.90
Cost of sales	151.2	123.6	297.1	244.6
Gross profit	423.9	393.6	800.4	769.3
Selling, general and administrative expenses	215.5	186.6	412.7	369
Research and development expenses	89.1	80.5	174.9	160.3
Intellectual property litigation (income) expense, net (Note 3)	-747.4	5.5	-741.9	-72.6
Special charges (Note 4)	50	'	57.5	'
Interest expense, net	3.1	0.4	6.6	0.2
Other expense, net	0.4	0.1	0.1	1.3
Income before provision for income taxes	813.2	120.5	890.5	311.1
Provision for income taxes	266.2	27.2	283.2	73.9
Net income	$547	$93.30	$607.30	$237.20
Earnings per share:	'	'	'	'
Basic (in dollars per share)	$5.18	$0.83	$5.72	$2.09
Diluted (in dollars per share)	$5.09	$0.81	$5.63	$2.05
Weighted-average number of common shares outstanding:	'	'	'	'
Basic (in shares)	105.6	112.6	106.1	113.3
Diluted (in shares)	107.4	114.7	107.9	115.6

CONSOLIDATED_CONDENSED_STATEME1

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME	'	'	'	'
Net income	$547	$93.30	$607.30	$237.20
Other comprehensive (loss) income, net of tax (Note 14)	'	'	'	'
Foreign currency translation adjustments	-5.4	4.6	-6.2	-19.6
Unrealized (loss) gain on cash flow hedges	-3.4	-0.2	-7.4	9.9
Unrealized loss on available-for-sale investments	-0.2	-0.4	-0.2	-0.4
Reclassification of net realized investment loss to earnings	0.3	'	0.3	'
Other comprehensive (loss) income	-8.7	4	-13.5	-10.1
Comprehensive income	$538.30	$97.30	$593.80	$227.10

CONSOLIDATED_CONDENSED_STATEME2

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Cash flows from operating activities	'	'
Net income	$607.30	$237.20
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation and amortization	32.3	28.8
Stock-based compensation (Note 12)	23.9	24
Excess tax benefit from stock plans	-21.3	-58.9
Special charges (Note 4)	7.5	'
Loss (gain) on investments	3.3	-0.4
Deferred income taxes	2	0.7
Other	-2	0.8
Changes in operating assets and liabilities:	'	'
Accounts and other receivables, net	-0.2	-8.7
Inventories	-11.5	-31.7
Accounts payable and accrued liabilities	282.7	11.9
Prepaid expenses and other current assets	-10.8	25.2
Other	3.7	0.3
Net cash provided by operating activities	916.9	229.2
Cash flows from investing activities	'	'
Capital expenditures	-30.3	-66.3
Purchases of held-to-maturity investments	-1,146.50	-222
Proceeds from held-to-maturity investments	594.9	230.9
Investments in trading securities, net	-10.9	-0.2
Proceeds from (investments in) unconsolidated affiliates, net	1.3	-1.6
Other	1.3	-0.1
Net cash used in investing activities	-590.2	-59.3
Cash flows from financing activities	'	'
Proceeds from issuance of debt	214.1	332.2
Payments on debt	-212.9	-292
Purchases of treasury stock	-300.6	-246.6
Excess tax benefit from stock plans	21.3	58.9
Proceeds from stock plans	32.9	27.4
Other	-2.4	5.9
Net cash used in financing activities	-247.6	-114.2
Effect of currency exchange rate changes on cash and cash equivalents	-0.9	6.1
Net increase in cash and cash equivalents	78.2	61.8
Cash and cash equivalents at beginning of period	420.4	310.9
Cash and cash equivalents at end of period	498.6	372.7
Non-cash investing and financing transactions:	'	'
Capital expenditures accruals	$8.20	$2.90

BASIS_OF_PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2014
BASIS OF PRESENTATION	'
BASIS OF PRESENTATION	'
	1.     BASIS OF PRESENTATION
	The accompanying interim consolidated condensed financial statements and related disclosures have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") and should be read in conjunction with the consolidated financial statements and notes included in Edwards Lifesciences Corporation's Annual Report on Form 10-K for the year ended December 31, 2013. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles ("GAAP") have been condensed or omitted.
	In the opinion of management of Edwards Lifesciences Corporation ("Edwards Lifesciences" or the "Company"), the interim consolidated condensed financial statements reflect all adjustments considered necessary for a fair statement of the interim periods. All such adjustments are of a normal, recurring nature. The results of operations for the interim periods are not necessarily indicative of the results of operations to be expected for the full year.
	Cash Flow Statement Revision
	In preparing the consolidated financial statements for the year ended December 31, 2013, the Company determined that it had misclassified certain accrued capital expenditures in the consolidated condensed statements of cash flows for the six months ended June 30, 2013. The Company has evaluated and concluded that this did not result in a material misstatement of the Company's previously issued consolidated financial statements. However, the Company has elected to revise its consolidated condensed statement of cash flows for the six months ended June 30, 2013 to correct the presentation of accrued capital expenditures, resulting in an increase to net cash used in investing activities (with a corresponding increase to net cash provided by operating activities) of $14.9 million.
	Recently Adopted Accounting Standards
	In July 2013, the Financial Accounting Standards Board ("FASB") issued an amendment to the accounting guidance on income taxes impacting the presentation of unrecognized tax benefits. The guidance requires an entity to net its unrecognized tax benefits against the deferred tax assets for all same jurisdiction net operating loss or similar tax loss carryforwards, or tax credit carryforwards. The guidance was effective for annual reporting periods beginning after December 15, 2013 and interim periods therein. The adoption of this guidance did not have a material impact on the Company's consolidated condensed financial statements.
	New Accounting Standards Not Yet Adopted
	In May 2014, the FASB issued an update to the accounting guidance on revenue recognition. The new guidance provides a comprehensive, principles-based approach to revenue recognition, and supersedes most previous revenue recognition guidance. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance also requires improved disclosures on the nature, amount, timing and uncertainty of revenue that is recognized. The guidance is effective for annual reporting periods beginning after December 15, 2016 and interim periods therein. The new guidance can be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of the change recognized at the date of the initial application. The Company is currently assessing the impact this guidance will have on its consolidated financial statements, and has not yet selected a transition method.

CHANGE_IN_ACCOUNTING_PRINCIPLE

CHANGE IN ACCOUNTING PRINCIPLE	6 Months Ended
	Jun. 30, 2014
CHANGE IN ACCOUNTING PRINCIPLE	'
CHANGE IN ACCOUNTING PRINCIPLE	'
	2.     CHANGE IN ACCOUNTING PRINCIPLE
	Effective January 1, 2014, the Company changed its method of accounting for certain intellectual property litigation expenses related to the defense and enforcement of issued patents. Previously, the Company capitalized these legal costs if a favorable outcome in the patent defense was determined to be probable, and amortized the capitalized legal costs over the life of the related patent. As of December 31, 2013, the Company had remaining unamortized capitalized legal costs of $23.7 million, which, under the previous accounting method, would have been amortized through 2021. Under the new method of accounting, these legal costs are expensed in the period they are incurred. The Company has retrospectively adjusted the comparative financial statements of prior periods to apply this new method of accounting.
	The Company believes this change in accounting principle is preferable because (1) as more competitors enter the Company's key product markets and the threat of complex intellectual property litigation across multiple jurisdictions increases, it will become more difficult for the Company to accurately assess the probability of a favorable outcome in such litigation, and (2) it will enhance the comparability of the Company's financial results with those of its peer group because it is the predominant accounting practice in the Company's industry.
	The accompanying consolidated condensed financial statements and related notes have been adjusted to reflect the impact of this change retrospectively to all prior periods presented. The cumulative effect of the change in accounting principle was a decrease in retained earnings of $12.2 million as of January 1, 2013. The following tables present the effects of the retrospective application of the change in accounting principle (in millions):
		As of December 31, 2013
	Consolidated Condensed Balance Sheet	As Reported			As Adjusted
	Other intangible assets, net	$	57.2		$	33.5
	Deferred income taxes		70.1			79
	Total assets		2,724.70			2,709.90
	Retained earnings		2,045.60			2,030.80
	Total stockholders' equity		1,559.20			1,544.40
	Total liabilities and stockholders' equity		2,724.70			2,709.90
		Three Months Ended					Six Months Ended
		June 30, 2013					June 30, 2013
	Consolidated Condensed Statement of	As Reported			As Adjusted		As Reported			As Adjusted
	Operations
	Cost of sales	$	125		$	123.6	$	247.2		$	244.6
	Gross profit		392.2			393.6		766.7			769.3
	Selling, general and administrative expenses(a)		189.4			186.6		374.6			369
	Intellectual property litigation expense (income), net(a)		—			5.5		—			(72.6	)
	Special gain(a)		—			—		(83.6	)		—
	Income before provision for income taxes		121.8			120.5		313.9			311.1
	Provision for income taxes		27.7			27.2		74.9			73.9
	Net income		94.1			93.3		239			237.2
	Earnings per share:
	Basic	$	0.84		$	0.83	$	2.11		$	2.09
	Diluted	$	0.82		$	0.81	$	2.07		$	2.05
	(a)
	The above amounts also reflect certain reclassifications of previously reported amounts related to intellectual property litigation to conform to classifications used in the current year.
		Three Months Ended					Six Months Ended
		June 30, 2013					June 30, 2013
	Consolidated Condensed Statement of	As Reported			As Adjusted		As Reported			As Adjusted
	Comprehensive Income
	Net income	$	94.1		$	93.3	$	239		$	237.2
	Comprehensive income		98.1			97.3		228.9			227.1
		Six Months Ended
		June 30, 2013
	Consolidated Condensed Statement of Cash Flows	As Reported			As Adjusted
	Net income	$	239		$	237.2
	Adjustments to reconcile net income to cash provided by operating activities:
	Depreciation and amortization		31.4			28.8
	Other		1.1			0.8
	Changes in operating assets and liabilities:
	Prepaid expenses and other current assets		26.2			25.2
	Other		(5.4	)		0.3

INTELLECTUAL_PROPERTY_LITIGATI

INTELLECTUAL PROPERTY LITIGATION (INCOME) EXPENSE, NET	6 Months Ended
	Jun. 30, 2014
INTELLECTUAL PROPERTY LITIGATION (INCOME) EXPENSE, NET	'
INTELLECTUAL PROPERTY LITIGATION (INCOME) EXPENSE, NET	'
	3.     INTELLECTUAL PROPERTY LITIGATION (INCOME) EXPENSE, NET
	In May 2014, the Company entered into an agreement with Medtronic, Inc. and its affiliates ("Medtronic") to settle all outstanding patent litigation between the companies, including all cases related to transcatheter heart valves. Pursuant to the agreement, all pending cases or appeals in courts and patent offices worldwide have been dismissed, and the parties will not litigate patent disputes with each other in the field of transcatheter valves for the eight-year term of the agreement. Under the terms of a patent cross-license that is part of the agreement, Medtronic made a one-time, upfront payment to the Company in the amount of $750.0 million. In addition, Medtronic will pay the Company quarterly license royalty payments through April 2022. For sales in the United States, the royalty payments will be based on a percentage of Medtronic's sales of transcatheter aortic valves, subject to a minimum annual payment of $40.0 million and a maximum annual payment of $60.0 million. A separate royalty payment will be calculated based on sales of Medtronic transcatheter aortic valves manufactured in the United States but sold elsewhere. For further information, see Note 13.
	The Company accounted for the settlement agreement as a multiple-element arrangement and allocated the total consideration to the identifiable elements based upon their relative fair value. The consideration assigned to each element was as follows:
	Past damages	$	754.3
	License agreement		238
	Covenant not to sue		77.7
	Total	$	1,070.00
	The Company recognized the upfront payment of $750.0 million in "Intellectual Property Litigation (Income) Expense, net" during the second quarter of 2014. The accounting guidance limits the amount to be recognized upfront to the amount of cash received. Therefore, the remaining fair value associated with the past damages element, and the amounts assigned to the license agreement and covenant not to sue, will be recognized in "Net Sales" over the term of the license agreement as delivery occurs since the Company considers the future royalties to be part of its revenue-earning activities that constitute its ongoing major or central operations.
	The Company incurred external legal costs related to intellectual property litigation of $2.6 million and $5.5 million for the three months ended June 30, 2014 and 2013, respectively, and $8.1 million and $11.0 million for the six months ended June 30, 2014 and 2013, respectively.
	In February 2013, the Company received $83.6 million from Medtronic in satisfaction of the initial April 2010 jury award of damages for infringement of the United States Andersen transcatheter heart valve patent, including accrued interest.

SPECIAL_CHARGES

SPECIAL CHARGES	6 Months Ended
	Jun. 30, 2014
SPECIAL CHARGES	'
SPECIAL CHARGES	'
	4.     SPECIAL CHARGES
	Charitable Foundation Contribution
	In June 2014, the Company contributed $50.0 million to the Edwards Lifesciences Foundation, a related-party not-for-profit organization intended to provide philanthropic support to health- and community-focused charitable organizations. The contribution was irrevocable and was recorded as an expense at the time of payment.
	Settlement
	In March 2014, the Company recorded a $7.5 million charge to settle past and future obligations related to one of its intellectual property agreements.

INVENTORIES

INVENTORIES	6 Months Ended
	Jun. 30, 2014
INVENTORIES	'
INVENTORIES	'
	5.     INVENTORIES
	Inventories consisted of the following (in millions):
		June 30,		December 31,
		2014		2013
	Raw materials	$	60.4	$	57.8
	Work in process		79.1		82.2
	Finished products		177.6		168.9
		$	317.1	$	308.9

INVESTMENTS

INVESTMENTS	6 Months Ended
	Jun. 30, 2014
INVESTMENTS	'
INVESTMENTS	'
	6.     INVESTMENTS
	Held-to-maturity Investments
	Held-to-maturity investments at the end of each period were as follows (in millions):
		June 30, 2014										December 31, 2013
		Cost			Gross			Gross		Fair		Cost		Gross		Gross		Fair
					Unrealized			Unrealized		Value				Unrealized		Unrealized		Value
					Gains			Losses						Gains		Losses
	Bank time deposits	$	886.3		$	—		$	—	$	886.3	$	516.5	$	—	$	—	$	516.5
	Commercial paper		89.8			—			—		89.8		—		—		—		—
	U.S. government and agency securities		50.8			0.1			—		50.9		—		—		—		—
	Asset-backed securities		9.4			—			—		9.4		—		—		—		—
	Corporate debt securities		25			—			—		25		—		—		—		—
	Municipal securities		5.1			—			—		5.1		—		—		—		—
	Total	$	1,066.40		$	0.1		$	—	$	1,066.50	$	516.5	$	—	$	—	$	516.5
	The cost and fair value of held-to-maturity investments, by contractual maturity, as of June 30, 2014 were as follows:
		Cost			Fair Value
		(in millions)
	Due in 1 year or less	$	985.5		$	985.5
	Due after 1 year through 5 years		63.6			63.7
	Instruments not due at a single maturity date		17.3			17.3
		$	1,066.40		$	1,066.50
	Actual maturities may differ from the contractual maturities due to call or prepayment rights.
	Investments in Unconsolidated Affiliates
	The Company has a number of equity investments in privately and publicly held companies. Investments in these unconsolidated affiliates are recorded in "Long-term Investments" on the consolidated condensed balance sheets, and are as follows:
		June 30,			December 31,
		2014			2013
		(in millions)
	Available-for-sale investments
	Cost	$	0.4		$	0.4
	Unrealized gains		0.1			0.4
	Fair value of available-for-sale investments		0.5			0.8
	Equity method investments
	Cost		12.4			14.1
	Equity in losses		(1.5	)		(2.7	)
	Carrying value of equity method investments		10.9			11.4
	Cost method investments
	Carrying value of cost method investments		6.7			9.7
	Total investments in unconsolidated affiliates	$	18.1		$	21.9
	In March 2014, the Company recorded an other-than-temporary impairment charge of $3.5 million related to one of its cost method investments.

OTHER_INTANGIBLE_ASSETS

OTHER INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2014
OTHER INTANGIBLE ASSETS	'
OTHER INTANGIBLE ASSETS	'
	7.     OTHER INTANGIBLE ASSETS
	Other intangible assets consisted of the following (in millions):
		June 30, 2014							December 31, 2013
		Cost		Accumulated			Net		Cost		Accumulated			Net
				Amortization			Carrying				Amortization			Carrying
							Value							Value
	Amortizable intangible assets
	Patents	$	181.5	$	(166.3	)	$	15.2	$	181.6	$	(163.5	)	$	18.1
	Developed technology		48		(36.0	)		12		43.3		(35.1	)		8.2
	Other		10.7		(8.4	)		2.3		10.7		(8.1	)		2.6
			240.2		(210.7	)		29.5		235.6		(206.7	)		28.9
	Unamortizable intangible assets
	In-process research and development		—		—			—		4.6		—			4.6
		$	240.2	$	(210.7	)	$	29.5	$	240.2	$	(206.7	)	$	33.5
	The net carrying value of patents as of December 31, 2013 has been adjusted to reflect the Company's change in its method of accounting for certain legal costs related to the defense and enforcement of issued patents. For further information, see Note 2.
	In June 2014, the Company transferred its remaining in-process research and development assets, which related to technology acquired from BMEYE, B.V., to developed technology because the Company had received United States Food and Drug Administration approval for the product.
	Amortization expense related to other intangible assets was $2.0 million and $2.5 million for the three months ended June 30, 2014 and 2013, respectively, and $4.1 million and $5.0 million for the six months ended June 30, 2014 and 2013, respectively. Estimated amortization expense for each of the years ending December 31 is as follows (in millions):
	2014	$	8.5
	2015		7.8
	2016		7.6
	2017		6.9
	2018		1.6
	The Company expenses costs incurred to renew or extend the term of acquired intangible assets.

DEBT

DEBT	6 Months Ended
	Jun. 30, 2014
DEBT	'
DEBT	'
	8.     DEBT
	In October 2013, the Company issued $600.0 million of 2.875% fixed-rate unsecured senior notes due October 15, 2018 (the "Notes"). Interest is payable semi-annually in arrears, with the first payment due in April 2014. The effective interest rate is 2.983%. Issuance costs of $5.4 million, as well as a $3.0 million discount on the Notes, are being amortized to interest expense over the term of the Notes. As of June 30, 2014, the carrying value of the Notes was $598.0 million.
	The Company has a Four-Year Credit Agreement ("Credit Facility") that matures on July 29, 2015. The Credit Facility provides for aggregate borrowings up to $750.0 million. As of June 30, 2014, there were no borrowings outstanding under the Credit Facility.
	In July 2014, the Company entered into a new Five-Year Credit Agreement ("the Credit Agreement") which matures on July 18, 2019, and the existing Credit Facility was terminated. The Credit Agreement provides up to an aggregate of $750.0 million in borrowings in multiple currencies. The Company may increase the amount available under the Credit Agreement, subject to agreement of the lenders, by up to an additional $250.0 million in the aggregate. Borrowings generally bear interest at the London interbank offered rate ("LIBOR") plus a spread ranging from 1.0% to 1.5%, depending on the leverage ratio, as defined in the Credit Agreement. The Company also pays a facility fee ranging from 0.125% to 0.25%, depending on the leverage ratio, on the entire credit commitment available, whether or not drawn. The Credit Agreement is unsecured and contains various financial and other covenants, including a maximum leverage ratio and a minimum interest coverage ratio, as defined in the Credit Agreement.

FAIR_VALUE_MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2014
FAIR VALUE MEASUREMENTS	'
FAIR VALUE MEASUREMENTS	'
	9.     FAIR VALUE MEASUREMENTS
	The consolidated condensed financial statements include financial instruments for which the fair market value of such instruments may differ from amounts reflected on a historical cost basis. Financial instruments of the Company consist of cash deposits, accounts and other receivables, investments, accounts payable, certain accrued liabilities and borrowings under a revolving credit agreement. The carrying value of these financial instruments generally approximates fair value due to their short-term nature. Financial instruments also include notes payable. As of June 30, 2014, the fair value of the notes payable, based on Level 2 inputs, was $617.4 million.
	Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The Company prioritizes the inputs used to determine fair values in one of the following three categories:
	Level 1—Quoted market prices in active markets for identical assets or liabilities.
	Level 2—Inputs, other than quoted prices in active markets, that are observable, either directly or indirectly.
	Level 3—Unobservable inputs that are not corroborated by market data.
	In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level input that is significant to the fair value measurement in its entirety.
	Assets and Liabilities Measured at Fair Value on a Recurring Basis
	The following table summarizes the Company's financial instruments which are measured at fair value on a recurring basis (in millions):
	June 30, 2014	Level 1		Level 2		Level 3		Total
	Assets
	Investments held for deferred compensation plans	$	26.5	$	—	$	—	$	26.5
	Available-for-sale investments		0.5		—		—		0.5
	Derivatives		—		3.9		—		3.9
		$	27	$	3.9	$	—	$	30.9
	Liabilities
	Derivatives	$	—	$	7.1	$	—	$	7.1
	Deferred compensation plans		26.5		—		—		26.5
		$	26.5	$	7.1	$	—	$	33.6
	December 31, 2013
	Assets
	Investments held for deferred compensation plans	$	15.1	$	—	$	—	$	15.1
	Available-for-sale investments		0.8		—		—		0.8
	Derivatives		—		13.8		—		13.8
		$	15.9	$	13.8	$	—	$	29.7
	Liabilities
	Derivatives	$	—	$	17.2	$	—	$	17.2
	Deferred compensation plans		15.5		—		—		15.5
		$	15.5	$	17.2	$	—	$	32.7
	Deferred Compensation Plans
	The Company holds investments in trading securities related to its deferred compensation plans. The investments are in a variety of stock and bond mutual funds. The fair values of these investments and the corresponding liabilities are based on quoted market prices and are categorized as Level 1.
	Available-for-sale Investments
	The Company has a number of long-term equity investments in companies that are in various stages of development. Certain of these investments have been designated as available-for-sale. These investments are carried at fair market value based on quoted market prices and are categorized as Level 1.
	Derivative Instruments
	The Company uses derivative financial instruments in the form of foreign currency forward exchange contracts to manage foreign currency exposures and interest rate swap agreements to manage its interest rate exposures. All derivatives contracts are recognized on the balance sheet at their fair value. The fair value of foreign currency derivative financial instruments was estimated by discounting expected cash flows using quoted market interest rates and foreign exchange rates. The fair value of the interest rate swap agreements was determined based on a discounted cash flow analysis reflecting the contractual terms of the agreements and the 6-month LIBOR forward interest rate curve. Judgment was employed in interpreting market data to develop estimates of fair value; accordingly, the estimates presented herein are not necessarily indicative of the amounts that the Company could realize in a current market exchange. The use of different market assumptions or valuation methodologies could have a material effect on the estimated fair value amounts. The derivative instruments are categorized as Level 2.

DERIVATIVE_INSTRUMENTS_AND_HED

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	6 Months Ended
	Jun. 30, 2014
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	'
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	'
	10.   DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
	The Company uses derivative financial instruments to manage its currency exchange rate risk and its interest rate risk, as summarized below. Notional amounts are stated in United States dollar equivalents at spot exchange rates at the respective dates.
		Notional Amount
		June 30,			December 31,
		2014			2013
		(in millions)
	Foreign currency forward exchange contracts	$	805.3		$	805.5
	Interest rate swap agreements	$	300		$	300
	The Company uses derivative financial instruments to manage interest rate and foreign currency risks. It is the Company's policy not to enter into derivative financial instruments for speculative purposes. The Company uses interest rate swaps to convert a portion of its fixed-rate debt into variable-rate debt. These interest rate swaps are designated as fair value hedges and meet the shortcut method requirements under the accounting standards for derivatives and hedging. Accordingly, changes in the fair values of the interest rate swaps are considered to exactly offset changes in the fair value of the underlying long-term debt. The Company uses foreign currency forward exchange contracts to offset the changes due to currency rate movements in the amount of future cash flows associated with intercompany transactions and certain third-party expenses expected to occur within the next 13 months. These foreign currency forward exchange contracts are designated as cash flow hedges. Certain of the Company's locations have assets and liabilities denominated in currencies other than their functional currencies resulting from intercompany and third-party transactions. The Company uses foreign currency forward exchange contracts that are not designated as hedging instruments to offset the transaction gains and losses associated with certain of these assets and liabilities. All foreign currency forward exchange contracts are denominated in currencies of major industrial countries, principally the Euro and the Japanese yen.
	All derivative financial instruments are recognized at fair value in the consolidated condensed balance sheets. For each derivative instrument that is designated and effective as a fair value hedge, the gain or loss on the derivative is recognized immediately to earnings, and offsets the loss or gain on the underlying hedged item. The gain or loss on fair value hedges is classified in net interest expense, as they hedge the interest rate risk associated with the Company's fixed-rate debt. The Company reports in "Accumulated Other Comprehensive Loss" the effective portion of the gain or loss on derivative financial instruments that are designated, and that qualify, as cash flow hedges. The Company reclassifies these gains and losses into earnings in the same period in which the underlying hedged transactions affect earnings. Any hedge ineffectiveness (which represents the amount by which the changes in the fair value of the derivative exceed the variability in the cash flows of the forecasted transaction) is recorded in current period earnings. For the six months ended June 30, 2014 and 2013, the Company did not record any gains or losses due to hedge ineffectiveness. The gains and losses on derivative financial instruments for which the Company does not elect hedge accounting treatment are recognized in the consolidated condensed statements of operations in each period based upon the change in the fair value of the derivative financial instrument. Cash flows from derivative financial instruments are reported as operating activities in the consolidated condensed statements of cash flows.
	Derivative financial instruments involve credit risk in the event the counterparty should default. It is the Company's policy to execute such instruments with global financial institutions that the Company believes to be creditworthy. The Company diversifies its derivative financial instruments among counterparties to minimize exposure to any one of these entities. The Company also uses International Swap Dealers Association master-netting agreements. The master-netting agreements provide for the net settlement of all contracts through a single payment in a single currency in the event of default, as defined by the agreements.
	The following table presents the location and fair value amounts of derivative instruments reported in the consolidated condensed balance sheets (in millions):
				Fair Value
	Derivatives designated as hedging	Balance Sheet		June 30,			December 31,
	instruments	Location		2014			2013
	Assets
	Foreign currency contracts	Other current assets		$	3.2		$	13.8
	Interest rate swap agreements	Other assets		$	0.7		$	—
	Liabilities
	Foreign currency contracts	Accrued and other liabilities		$	7.1		$	13.2
	Interest rate swap agreements	Other long-term liabilities		$	—		$	4
	The following table presents the effect of master-netting agreements and rights of offset on the consolidated condensed balance sheets (in millions):
											Gross Amounts Not
											Offset in the
					Gross						Consolidated Balance
					Amounts						Sheet
					Offset in the
					Consolidated			Net Amounts
					Balance Sheet			Presented in the
								Consolidated
	June 30, 2014	Gross						Balance Sheet			Financial			Cash		Net
		Amounts									Instruments			Collateral		Amount
														Received
	Derivative Assets
	Foreign currency contracts	$	3.2		$	—		$	3.2		$	(3.2	)	$	—	$	—
	Interest rate swap agreements	$	0.7		$	—		$	0.7		$	—		$	—	$	0.7
	Derivative Liabilities
	Foreign currency contracts	$	7.1		$	—		$	7.1		$	(3.2	)	$	—	$	3.9
	December 31, 2013
	Derivative Assets
	Foreign currency contracts	$	13.8		$	—		$	13.8		$	(9.5	)	$	—	$	4.3
	Derivative Liabilities
	Foreign currency contracts	$	13.2		$	—		$	13.2		$	(9.5	)	$	—	$	3.7
	Interest rate swap agreements	$	4		$	—		$	4		$	—		$	—	$	4
	The following tables present the effect of derivative instruments on the consolidated condensed statements of operations and consolidated condensed statements of comprehensive income (in millions):
		Amount of Gain or (Loss)								Amount of Gain or (Loss)
		Recognized in OCI								Reclassified from
		on Derivative								Accumulated OCI
		(Effective Portion)								into Income
		Three Months Ended								Three Months Ended
		June 30,						Location of Gain or		June 30,
								(Loss) Reclassified from
								Accumulated OCI
	Derivatives in cash flow hedging	2014			2013			into Income		2014			2013
	relationships
	Foreign currency contracts	$	(2.7	)	$	6		Cost of sales		$	3		$	5.8
		Amount of Gain or (Loss)								Amount of Gain or (Loss)
		Recognized in OCI								Reclassified from
		on Derivative								Accumulated OCI
		(Effective Portion)								into Income
		Six Months Ended								Six Months Ended
		June 30,						Location of Gain or		June 30,
								(Loss) Reclassified from
					Accumulated OCI
Derivatives in cash flow hedging	2014			2013		into Income		2014			2013
relationships
Foreign currency contracts	$	(4.4	)	$	27.7		Cost of sales		$	8		$	11
			Amount of Gain or (Loss)
			Recognized in Income on
			Derivative
			Three Months Ended
	Location of Gain or (Loss)		June 30,
	Recognized in Income on
Derivatives in fair value hedging	Derivative		2014			2013
relationships
Interest rate swap agreements	Interest expense, net		$	2.6		$	—
			Amount of Gain or (Loss)
			Recognized in Income on
			Derivative
			Six Months Ended
	Location of Gain or (Loss)		June 30,
	Recognized in Income on
Derivatives in fair value hedging	Derivative		2014			2013
relationships
Interest rate swap agreements	Interest expense, net		$	4.7		$	—
The gains on the interest rate swap agreements are fully offset by the changes in the fair value of the fixed-rate debt being hedged.
			Amount of Gain or (Loss)
			Recognized in Income on
			Derivative
			Three Months Ended
	Location of Gain or (Loss)		June 30,
	Recognized in Income on
Derivatives not designated as hedging	Derivative		2014			2013
instruments
Foreign currency contracts	Other expense, net		$	(2.5	)	$	5.1
			Amount of Gain or (Loss)
			Recognized in Income on
			Derivative
			Six Months Ended
	Location of Gain or (Loss)		June 30,
	Recognized in Income on
Derivatives not designated as hedging	Derivative		2014			2013
instruments
Foreign currency contracts	Other expense, net		$	(3.2	)	$	14.4
The Company expects that during the next twelve months it will reclassify to earnings a $2.8 million loss currently recorded in "Accumulated Other Comprehensive Loss."

DEFINED_BENEFIT_PLANS

DEFINED BENEFIT PLANS	6 Months Ended
	Jun. 30, 2014
DEFINED BENEFIT PLANS	'
DEFINED BENEFIT PLANS	'
	11.   DEFINED BENEFIT PLANS
	The components of net periodic benefit cost for the three and six months ended June 30, 2014 and 2013 were as follows (in millions):
		Three Months						Six Months
		Ended						Ended
		June 30,						June 30,
		2014			2013			2014			2013
	Service cost	$	1.8		$	1.9		$	3.5		$	3.9
	Interest cost		0.6			0.5			1.2			1
	Expected return on plan assets		(0.5	)		(0.3	)		(0.9	)		(0.6	)
	Amortization of actuarial loss, prior service credit and other		—			0.3			0.1			0.5
	Net periodic benefit cost	$	1.9		$	2.4		$	3.9		$	4.8

STOCKBASED_COMPENSATION

STOCK-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2014
STOCK-BASED COMPENSATION	'
STOCK-BASED COMPENSATION	'
	12.   STOCK-BASED COMPENSATION
	Stock-based compensation expense related to awards issued under the Company's incentive compensation plans for the three and six months ended June 30, 2014 and 2013 was as follows (in millions):
		Three Months						Six Months
		Ended						Ended
		June 30,						June 30,
		2014			2013			2014			2013
	Cost of sales	$	1.5		$	1.5		$	3		$	2.9
	Selling, general and administrative expenses		8.6			9.4			17.4			17.6
	Research and development expenses		1.8			1.9			3.5			3.5
	Total stock-based compensation expense	$	11.9		$	12.8		$	23.9		$	24
	At June 30, 2014, the total remaining compensation cost related to nonvested stock options, restricted stock units, market-based restricted stock units and employee stock purchase plan ("ESPP") subscription awards amounted to $100.8 million, which will be amortized on a straight-line basis over the weighted-average remaining requisite service period of 32 months.
	During the six months ended June 30, 2014, the Company granted 1.3 million stock options at a weighted-average exercise price of $82.23 and 0.2 million shares of restricted stock units at a weighted-average grant-date fair value of $78.88. The Company also granted 39,000 shares of market-based restricted stock units at a weighted-average grant-date fair value of $108.75. The market-based restricted stock units vest based on a combination of certain service and market conditions. The actual number of shares issued will be determined based on the Company's total shareholder return relative to a selected industry peer group over a three-year performance period, and may range from 0% to 175% of the targeted number of shares granted.
	Fair Value Disclosures
	The fair value of the market-based restricted stock units was determined using a Monte Carlo simulation model, which uses multiple input variables to determine the probability of satisfying the market condition requirements. The weighted-average assumptions used to determine the fair value of the market-based restricted stock units granted during the six months ended June 30, 2014 and 2013 included a risk-free interest rate of 0.9% and 0.4%, respectively, and an expected volatility rate of 31.7% and 33.4%, respectively.
	The Black-Scholes option pricing model was used with the following weighted-average assumptions for options granted during the following periods:
	Option Awards
		Three Months						Six Months
		Ended						Ended
		June 30,						June 30,
		2014			2013			2014			2013
	Average risk-free interest rate		1.4	%		0.8	%		1.4	%		0.8	%
	Expected dividend yield		None			None			None			None
	Expected volatility		30.7	%		30.7	%		30.7	%		30.7	%
	Expected term (years)		4.5			4.6			4.6			4.6
	Fair value, per share	$	23.58		$	19.4		$	23.21		$	19.47
	The Black-Scholes option pricing model was used with the following weighted-average assumptions for ESPP subscriptions granted during the following periods:
	ESPP
		Three Months						Six Months
		Ended						Ended
		June 30,						June 30,
		2014			2013			2014			2013
	Average risk-free interest rate		0.1	%		0.1	%		0.1	%		0.1	%
	Expected dividend yield		None			None			None			None
	Expected volatility		29.2	%		33.3	%		31.3	%		35.4	%
	Expected term (years)		0.7			0.7			0.7			0.7
	Fair value, per share	$	18.33		$	21.48		$	16.96		$	22.94

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2014
COMMITMENTS AND CONTINGENCIES	'
COMMITMENTS AND CONTINGENCIES	'
	13.   COMMITMENTS AND CONTINGENCIES
	On May 19, 2014, Edwards Lifesciences entered into an agreement (the "Settlement Agreement") with Medtronic to, among other things, settle all outstanding patent litigation between the parties (see Note 3). Pursuant to the Settlement Agreement, all of the following pending cases and related appeals in courts worldwide were dismissed:
	•
	the lawsuit filed in February 2008 by Edwards Lifesciences against Medtronic in the U.S. District Court for the District of Delaware (the "District Court") alleging that its ReValving System infringes three of Edwards' U.S. Andersen patents, later narrowed to one patent;
	•
	a second lawsuit pending in the District Court against Medtronic alleging infringement of two of Edwards' U.S. Andersen patents;
	•
	the lawsuit against Medtronic in the District Court alleging infringement of an Edwards' U.S. Letac-Cribier transcatheter heart valve patent;
	•
	the lawsuit filed in June 2011 by Medtronic against Edwards Lifesciences in the U.S. District Court for the District of Minnesota alleging that certain surgical valve holders and a surgical embolic filter device infringe its patents and including Edwards' counterclaim alleging infringement of Edwards' annuloplasty ring patents;
	•
	the lawsuit filed in June 2011 by Medtronic against Edwards Lifesciences in the U.S. District Court for the Central District of California alleging that the Edwards SAPIEN transcatheter heart valve infringes a Medtronic patent, which patent was subsequently ruled invalid and the lawsuit was dismissed in favor of Edwards;
	•
	the lawsuit filed in March 2012 by Medtronic in the U.S. District Court for the Central District of California alleging that the methods of implanting the Edwards SAPIEN transcatheter heart valve in the United States infringe two Medtronic patents relating to methods of pacing the heart; and
	•
	the lawsuit filed in August 2012 by Edwards Lifesciences against Medtronic in the German District Court of Mannheim alleging that Medtronic's CoreValve and Evolut valves infringed three of Edwards' transcatheter valve patents.
	Edwards Lifesciences is or may be a party to, or may otherwise be responsible for, pending or threatened lawsuits related primarily to products and services currently or formerly manufactured or performed, as applicable, by Edwards Lifesciences. Such cases and claims raise difficult and complex factual and legal issues and are subject to many uncertainties, including, but not limited to, the facts and circumstances of each particular case or claim, the jurisdiction in which each suit is brought, and differences in applicable law. Upon resolution of any such legal matter or other claim, Edwards Lifesciences may incur charges in excess of established reserves. The Company is not able to estimate the amount or range of any loss for legal contingencies for which there is no reserve or additional loss for matters already reserved. While any such charge related to matters could have a material adverse impact on Edwards Lifesciences' net income or cash flows in the period in which it is recorded or paid, management does not believe that any such charge relating to any currently pending lawsuit would have a material adverse effect on Edwards Lifesciences' financial position, results of operations or liquidity.
	Edwards Lifesciences is subject to various environmental laws and regulations both within and outside of the United States. The operations of Edwards Lifesciences, like those of other medical device companies, involve the use of substances regulated under environmental laws, primarily in manufacturing and sterilization processes. While it is difficult to quantify the potential impact of continuing compliance with environmental protection laws, management believes that such compliance will not have a material impact on Edwards Lifesciences' financial position, results of operations or liquidity.

ACCUMULATED_OTHER_COMPREHENSIV

ACCUMULATED OTHER COMPREHENSIVE LOSS	6 Months Ended
	Jun. 30, 2014
ACCUMULATED OTHER COMPREHENSIVE LOSS	'
ACCUMULATED OTHER COMPREHENSIVE LOSS	'
	14.   ACCUMULATED OTHER COMPREHENSIVE LOSS
	Presented below is a summary of activity for each component of "Accumulated Other Comprehensive Loss" for the six months ended June 30, 2014.
		Foreign			Unrealized Gain			Unrealized Gain			Unrealized			Total
		Currency			(Loss) on Cash			on Available-for-			Pension			Accumulated
		Translation			Flow Hedges			sale Investments			Costs			Other
		Adjustments												Comprehensive
														Loss
		(in millions)
	December 31, 2013	$	(20.2	)	$	3.5		$	0.3		$	(11.2	)	$	(27.6	)
	Other comprehensive loss before reclassifications		(6.2	)		(4.4	)		(0.3	)		—			(10.9	)
	Amounts reclassified from accumulated other comprehensive loss		—			(8.0	)		0.3			—			(7.7	)
	Deferred income tax benefit		—			5			0.1			—			5.1
	June 30, 2014	$	(26.4	)	$	(3.9	)	$	0.4		$	(11.2	)	$	(41.1	)
	The following table provides information about amounts reclassified from "Accumulated Other Comprehensive Loss" (in millions):
		Three Months						Six Months
		Ended						Ended
		June 30, 2014						June 30, 2014						Affected Line on Consolidated Condensed
	Details about Accumulated Other	2014			2013			2014			2013			Statements of Operations
	Comprehensive Loss Components
	Gain on cash flow hedges	$	3		$	5.8		$	8		$	11		Cost of sales
			(1.1	)		(2.3	)		(3.0	)		(4.2	)	Provision for income taxes
		$	1.9		$	3.5		$	5		$	6.8		Net of tax
	Loss on available-for-sale investments	$	(0.3	)	$	—		$	(0.3	)	$	—		Other expense, net
			—			—			—			—		Provision for income taxes
		$	(0.3	)	$	—		$	(0.3	)	$	—		Net of tax

EARNINGS_PER_SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2014
EARNINGS PER SHARE	'
EARNINGS PER SHARE	'
	15.   EARNINGS PER SHARE
	Basic earnings per share is computed by dividing net income by the weighted-average common shares outstanding during a period. Employee equity share options, nonvested shares and similar equity instruments granted by the Company are treated as potential common shares in computing diluted earnings per share. Diluted shares outstanding include the dilutive effect of restricted stock units, market-based restricted stock units, and in-the-money options. The dilutive impact of the restricted stock units, market-based restricted stock units, and in-the-money options is calculated based on the average share price for each fiscal period using the treasury stock method. Under the treasury stock method, the amount that the employee must pay for exercising stock options, the amount of compensation expense for future service that the Company has not yet recognized, and the amount of tax benefits that would be recorded in "Additional Paid-in Capital" when the award becomes deductible are assumed to be used to repurchase shares. Potential common share equivalents have been excluded where their inclusion would be anti-dilutive.
	The table below presents the computation of basic and diluted earnings per share (in millions, except for per share information):
		Three Months				Six Months
		Ended				Ended
		June 30,				June 30,
		2014		2013		2014		2013
	Basic:
	Net income	$	547	$	93.3	$	607.3	$	237.2
	Weighted-average shares outstanding		105.6		112.6		106.1		113.3
	Basic earnings per share	$	5.18	$	0.83	$	5.72	$	2.09
	Diluted:
	Net income	$	547	$	93.3	$	607.3	$	237.2
	Weighted-average shares outstanding		105.6		112.6		106.1		113.3
	Dilutive effect of stock plans		1.8		2.1		1.8		2.3
	Dilutive weighted-average shares outstanding		107.4		114.7		107.9		115.6
	Diluted earnings per share	$	5.09	$	0.81	$	5.63	$	2.05
	Stock options, restricted stock units, and market-based restricted stock units to purchase 4.4 million and 3.7 million shares for the three months ended June 30, 2014 and 2013, respectively, and 4.0 million and 3.0 million for the six months ended June 30, 2014 and 2013, respectively, were outstanding, but were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive.

INCOME_TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2014
INCOME TAXES	'
INCOME TAXES	'
	16.   INCOME TAXES
	The Company's effective income tax rates were 32.7% and 22.6% for the three months ended June 30, 2014 and 2013, respectively, and 31.8% and 23.8% for the six months ended June 30, 2014 and 2013, respectively.
	The effective tax rate for the three and six months ended June 30, 2014 included (1) $262.1 million of tax expense associated with a $750.0 million litigation settlement payment received from Medtronic in May 2014 (see Note 3) and (2) $6.2 million of tax benefits from the remeasurement of uncertain tax positions.
	The federal research credit expired on December 31, 2013 and has not been reinstated as of June 30, 2014. Therefore, the effective income tax rates for the three and six months ended June 30, 2014 were calculated without an assumed benefit for the federal research credit. In 2013, the federal research credit related to 2013 favorably impacted the effective tax rate by approximately 1.3%. The effective income tax rate for the six months ended June 30, 2013 included (1) an $8.4 million benefit for the full year 2012 federal research credit, which was reinstated on January 2, 2013 and (2) $31.3 million of tax expense associated with the $83.6 million litigation award received from Medtronic in February 2013 (see Note 3).
	The Company strives to resolve open matters with each tax authority at the examination level and could reach agreement with a tax authority at any time. While the Company has accrued for matters it believes are more likely than not to require settlement, the final outcome with a tax authority may result in a tax liability that is more or less than that reflected in the consolidated condensed financial statements. Furthermore, the Company may later decide to challenge any assessments, if made, and may exercise its right to appeal. The uncertain tax positions are reviewed quarterly and adjusted as events occur that affect potential liabilities for additional taxes, such as lapsing of applicable statutes of limitations, proposed assessments by tax authorities, negotiations between tax authorities, identification of new issues and issuance of new legislation, regulations or case law.
	As of June 30, 2014 and December 31, 2013, the liability for income taxes associated with uncertain tax positions was $172.0 million and $127.7 million, respectively. The Company estimates that these liabilities would be reduced by $30.3 million and $30.9 million, respectively, from offsetting tax benefits associated with the correlative effects of potential transfer pricing adjustments, state income taxes and timing adjustments. The net amounts of $141.7 million and $96.8 million, respectively, if not required, would favorably affect the Company's effective tax rate.
	At June 30, 2014, all material state, local and foreign income tax matters have been concluded for years through 2006. During the third quarter of 2013, the Internal Revenue Service ("IRS") completed its fieldwork for the 2009 and 2010 tax years. The case is currently in suspense pending finalization of an Advance Pricing Agreement ("APA") and Joint Committee of Taxation approval. The IRS began its examination of the 2011 and 2012 tax years during the fourth quarter of 2013. The Company has also entered into an APA process between the Switzerland and United States governments for the years 2009 through 2013 covering transfer pricing matters. The transfer pricing matters are significant to the Company's consolidated condensed financial statements, and the final outcome of the negotiations between the two governments is uncertain.

SEGMENT_INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Jun. 30, 2014
SEGMENT INFORMATION	'
SEGMENT INFORMATION	'
	17.   SEGMENT INFORMATION
	Edwards Lifesciences conducts operations worldwide and is managed in the following geographical regions: United States, Europe, Japan, and Rest of World. All regions sell products that are used to treat advanced cardiovascular disease.
	The Company's geographic segments are reported based on the financial information provided to the Chief Operating Decision Maker (the Chief Executive Officer). The Company evaluates the performance of its geographic segments based on net sales and income before provision for income taxes ("pre-tax income"). The accounting policies of the segments are substantially the same as those described in Note 2 of the Company's consolidated financial statements included in its Annual Report on Form 10-K for the year ended December 31, 2013. Segment net sales and segment pre-tax income are based on internally derived standard foreign exchange rates, which may differ from year to year, and do not include inter-segment profits. Because of the interdependence of the reportable segments, the operating profit as presented may not be representative of the geographical distribution that would occur if the segments were not interdependent. Net sales by geographic area are based on the location of the customer.
	Certain items are maintained at the corporate level and are not allocated to the segments. The non-allocated items include net interest expense, global marketing expenses, corporate research and development expenses, manufacturing variances, corporate headquarters costs, special gains and charges, stock-based compensation, foreign currency hedging activities, certain litigation costs and most of the Company's amortization expense. Although most of the Company's depreciation expense is included in segment pre-tax income, due to the Company's methodology for cost build-up, it is impractical to determine the amount of depreciation expense included in each segment, and, therefore, a portion is maintained at the corporate level. The Company neither discretely allocates assets to its operating segments, nor evaluates the operating segments using discrete asset information.
	The table below presents information about Edwards Lifesciences' reportable segments (in millions):
		Three Months						Six Months
		Ended						Ended
		June 30,						June 30,
		2014			2013			2014			2013
	Segment Net Sales
	United States	$	242		$	240.5		$	464.4		$	468.4
	Europe		188.3			160.7			363.9			316.2
	Japan		68.2			73			128.4			140.3
	Rest of World		75.1			63.1			138.8			117.6
	Total segment net sales	$	573.6		$	537.3		$	1,095.50		$	1,042.50
	Segment Pre-tax Income
	United States	$	131.2		$	142.7		$	249.6		$	275.5
	Europe		87.7			73.7			167.9			146.2
	Japan		31.9			36.9			59.5			70.4
	Rest of World		23.7			17.5			40			30
	Total segment pre-tax income	$	274.5		$	270.8		$	517		$	522.1
	The table below presents reconciliations of segment net sales to consolidated net sales and segment pre-tax income to consolidated pre-tax income (in millions):
		Three Months						Six Months
		Ended						Ended
		June 30,						June 30,
		2014			2013			2014			2013
	Net Sales Reconciliation
	Segment net sales	$	573.6		$	537.3		$	1,095.50		$	1,042.50
	Foreign currency		1.5			(20.1	)		2			(28.6	)
	Consolidated net sales	$	575.1		$	517.2		$	1,097.50		$	1,013.90
	Pre-tax Income Reconciliation
	Segment pre-tax income	$	274.5		$	270.8		$	517		$	522.1
	Unallocated amounts:
	Corporate items		(158.1	)		(143.3	)		(312.7	)		(283.0	)
	Special charges (Note 4)		(50.0	)		—			(57.5	)		—
	Intellectual property litigation income (expense), net (Note 3)		747.4			(5.5	)		741.9			72.6
	Interest expense, net		(3.1	)		(0.4	)		(6.6	)		(0.2	)
	Foreign currency		2.5			(1.1	)		8.4			(0.4	)
	Consolidated pre-tax income	$	813.2		$	120.5		$	890.5		$	311.1
	Enterprise-Wide Information
	Enterprise-wide information is based on actual foreign exchange rates used in the Company's consolidated condensed financial statements.
		Three Months						Six Months
		Ended						Ended
		June 30,						June 30,
		2014			2013			2014			2013
		(in millions)
	Net Sales by Geographic Area
	United States	$	242		$	240.5		$	464.4		$	468.4
	Europe		193.8			155.3			374.1			309.8
	Japan		66.7			59.3			125.4			119.3
	Rest of World		72.6			62.1			133.6			116.4
		$	575.1		$	517.2		$	1,097.50		$	1,013.90
	Net Sales by Major Product and Service Area
	Transcatheter Heart Valves	$	219.7		$	182.1		$	408.9		$	351.8
	Surgical Heart Valve Therapy		214			204.3			416.6			402.4
	Critical Care		141.4			130.8			272			259.7
		$	575.1		$	517.2		$	1,097.50		$	1,013.90
		June 30,			December 31,
		2014			2013
		(in millions)
	Long-lived Tangible Assets by Geographic Area
	United States	$	310.7		$	308.2
	Europe		41.8			40.9
Japan		10			10.8
Rest of World		95.7			97.1
	$	458.2		$	457

BASIS_OF_PRESENTATION_Policies

BASIS OF PRESENTATION (Policies)	6 Months Ended
	Jun. 30, 2014
BASIS OF PRESENTATION	'
Cash Flow Statement Revision	'
	Cash Flow Statement Revision
	In preparing the consolidated financial statements for the year ended December 31, 2013, the Company determined that it had misclassified certain accrued capital expenditures in the consolidated condensed statements of cash flows for the six months ended June 30, 2013. The Company has evaluated and concluded that this did not result in a material misstatement of the Company's previously issued consolidated financial statements. However, the Company has elected to revise its consolidated condensed statement of cash flows for the six months ended June 30, 2013 to correct the presentation of accrued capital expenditures, resulting in an increase to net cash used in investing activities (with a corresponding increase to net cash provided by operating activities) of $14.9 million.
Recently Adopted Accounting Standards and New Accounting Standards Not Yet Adopted	'
	Recently Adopted Accounting Standards
	In July 2013, the Financial Accounting Standards Board ("FASB") issued an amendment to the accounting guidance on income taxes impacting the presentation of unrecognized tax benefits. The guidance requires an entity to net its unrecognized tax benefits against the deferred tax assets for all same jurisdiction net operating loss or similar tax loss carryforwards, or tax credit carryforwards. The guidance was effective for annual reporting periods beginning after December 15, 2013 and interim periods therein. The adoption of this guidance did not have a material impact on the Company's consolidated condensed financial statements.
	New Accounting Standards Not Yet Adopted
	In May 2014, the FASB issued an update to the accounting guidance on revenue recognition. The new guidance provides a comprehensive, principles-based approach to revenue recognition, and supersedes most previous revenue recognition guidance. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance also requires improved disclosures on the nature, amount, timing and uncertainty of revenue that is recognized. The guidance is effective for annual reporting periods beginning after December 15, 2016 and interim periods therein. The new guidance can be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of the change recognized at the date of the initial application. The Company is currently assessing the impact this guidance will have on its consolidated financial statements, and has not yet selected a transition method.

CHANGE_IN_ACCOUNTING_PRINCIPLE1

CHANGE IN ACCOUNTING PRINCIPLE (Tables)	6 Months Ended
	Jun. 30, 2014
CHANGE IN ACCOUNTING PRINCIPLE	'
Schedule of effects of retrospective application of change in accounting principle	'
	The following tables present the effects of the retrospective application of the change in accounting principle (in millions):
		As of December 31, 2013
	Consolidated Condensed Balance Sheet	As Reported			As Adjusted
	Other intangible assets, net	$	57.2		$	33.5
	Deferred income taxes		70.1			79
	Total assets		2,724.70			2,709.90
	Retained earnings		2,045.60			2,030.80
	Total stockholders' equity		1,559.20			1,544.40
	Total liabilities and stockholders' equity		2,724.70			2,709.90
		Three Months Ended					Six Months Ended
		June 30, 2013					June 30, 2013
	Consolidated Condensed Statement of	As Reported			As Adjusted		As Reported			As Adjusted
	Operations
	Cost of sales	$	125		$	123.6	$	247.2		$	244.6
	Gross profit		392.2			393.6		766.7			769.3
	Selling, general and administrative expenses(a)		189.4			186.6		374.6			369
	Intellectual property litigation expense (income), net(a)		—			5.5		—			(72.6	)
	Special gain(a)		—			—		(83.6	)		—
	Income before provision for income taxes		121.8			120.5		313.9			311.1
	Provision for income taxes		27.7			27.2		74.9			73.9
	Net income		94.1			93.3		239			237.2
	Earnings per share:
	Basic	$	0.84		$	0.83	$	2.11		$	2.09
	Diluted	$	0.82		$	0.81	$	2.07		$	2.05
	(a)
	The above amounts also reflect certain reclassifications of previously reported amounts related to intellectual property litigation to conform to classifications used in the current year.
		Three Months Ended					Six Months Ended
		June 30, 2013					June 30, 2013
	Consolidated Condensed Statement of	As Reported			As Adjusted		As Reported			As Adjusted
	Comprehensive Income
	Net income	$	94.1		$	93.3	$	239		$	237.2
	Comprehensive income		98.1			97.3		228.9			227.1
		Six Months Ended
		June 30, 2013
	Consolidated Condensed Statement of Cash Flows	As Reported			As Adjusted
	Net income	$	239		$	237.2
	Adjustments to reconcile net income to cash provided by operating activities:
	Depreciation and amortization		31.4			28.8
	Other		1.1			0.8
	Changes in operating assets and liabilities:
	Prepaid expenses and other current assets		26.2			25.2
	Other		(5.4	)		0.3

INTELLECTUAL_PROPERTY_LITIGATI1

INTELLECTUAL PROPERTY LITIGATION (INCOME) EXPENSE, NET (Tables)	6 Months Ended
	Jun. 30, 2014
INTELLECTUAL PROPERTY LITIGATION (INCOME) EXPENSE, NET	'
Schedule of allocation of consideration to identifiable elements of settlement agreement	'
	Past damages	$	754.3
	License agreement		238
	Covenant not to sue		77.7
	Total	$	1,070.00

INVENTORIES_Tables

INVENTORIES (Tables)	6 Months Ended
	Jun. 30, 2014
INVENTORIES	'
Schedule of inventories	'
	Inventories consisted of the following (in millions):
		June 30,		December 31,
		2014		2013
	Raw materials	$	60.4	$	57.8
	Work in process		79.1		82.2
	Finished products		177.6		168.9
		$	317.1	$	308.9

INVESTMENTS_Tables

INVESTMENTS (Tables)	6 Months Ended
	Jun. 30, 2014
INVESTMENTS	'
Schedule of held-to-maturity investments	'
	Held-to-maturity investments at the end of each period were as follows (in millions):
		June 30, 2014										December 31, 2013
		Cost			Gross			Gross		Fair		Cost		Gross		Gross		Fair
					Unrealized			Unrealized		Value				Unrealized		Unrealized		Value
					Gains			Losses						Gains		Losses
	Bank time deposits	$	886.3		$	—		$	—	$	886.3	$	516.5	$	—	$	—	$	516.5
	Commercial paper		89.8			—			—		89.8		—		—		—		—
	U.S. government and agency securities		50.8			0.1			—		50.9		—		—		—		—
	Asset-backed securities		9.4			—			—		9.4		—		—		—		—
	Corporate debt securities		25			—			—		25		—		—		—		—
	Municipal securities		5.1			—			—		5.1		—		—		—		—
	Total	$	1,066.40		$	0.1		$	—	$	1,066.50	$	516.5	$	—	$	—	$	516.5
Schedule of cost and fair value of held-to-maturity investments, by contractual maturity	'
	The cost and fair value of held-to-maturity investments, by contractual maturity, as of June 30, 2014 were as follows:
		Cost			Fair Value
		(in millions)
	Due in 1 year or less	$	985.5		$	985.5
	Due after 1 year through 5 years		63.6			63.7
	Instruments not due at a single maturity date		17.3			17.3
		$	1,066.40		$	1,066.50
Schedule of investments in unconsolidated affiliates	'
		June 30,			December 31,
		2014			2013
		(in millions)
	Available-for-sale investments
	Cost	$	0.4		$	0.4
	Unrealized gains		0.1			0.4
	Fair value of available-for-sale investments		0.5			0.8
	Equity method investments
	Cost		12.4			14.1
	Equity in losses		(1.5	)		(2.7	)
	Carrying value of equity method investments		10.9			11.4
	Cost method investments
	Carrying value of cost method investments		6.7			9.7
	Total investments in unconsolidated affiliates	$	18.1		$	21.9

OTHER_INTANGIBLE_ASSETS_Tables

OTHER INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2014
OTHER INTANGIBLE ASSETS	'
Schedule of other intangible assets	'
	Other intangible assets consisted of the following (in millions):
		June 30, 2014							December 31, 2013
		Cost		Accumulated			Net		Cost		Accumulated			Net
				Amortization			Carrying				Amortization			Carrying
							Value							Value
	Amortizable intangible assets
	Patents	$	181.5	$	(166.3	)	$	15.2	$	181.6	$	(163.5	)	$	18.1
	Developed technology		48		(36.0	)		12		43.3		(35.1	)		8.2
	Other		10.7		(8.4	)		2.3		10.7		(8.1	)		2.6
			240.2		(210.7	)		29.5		235.6		(206.7	)		28.9
	Unamortizable intangible assets
	In-process research and development		—		—			—		4.6		—			4.6
		$	240.2	$	(210.7	)	$	29.5	$	240.2	$	(206.7	)	$	33.5
Schedule of estimated amortization expense	'
	Estimated amortization expense for each of the years ending December 31 is as follows (in millions):
	2014	$	8.5
	2015		7.8
	2016		7.6
	2017		6.9
	2018		1.6

FAIR_VALUE_MEASUREMENTS_Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2014
FAIR VALUE MEASUREMENTS	'
Summary of financial instruments measured at fair value on a recurring basis	'
	The following table summarizes the Company's financial instruments which are measured at fair value on a recurring basis (in millions):
	June 30, 2014	Level 1		Level 2		Level 3		Total
	Assets
	Investments held for deferred compensation plans	$	26.5	$	—	$	—	$	26.5
	Available-for-sale investments		0.5		—		—		0.5
	Derivatives		—		3.9		—		3.9
		$	27	$	3.9	$	—	$	30.9
	Liabilities
	Derivatives	$	—	$	7.1	$	—	$	7.1
	Deferred compensation plans		26.5		—		—		26.5
		$	26.5	$	7.1	$	—	$	33.6
	December 31, 2013
	Assets
	Investments held for deferred compensation plans	$	15.1	$	—	$	—	$	15.1
	Available-for-sale investments		0.8		—		—		0.8
	Derivatives		—		13.8		—		13.8
		$	15.9	$	13.8	$	—	$	29.7
	Liabilities
	Derivatives	$	—	$	17.2	$	—	$	17.2
	Deferred compensation plans		15.5		—		—		15.5
		$	15.5	$	17.2	$	—	$	32.7

DERIVATIVE_INSTRUMENTS_AND_HED1

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	6 Months Ended
	Jun. 30, 2014
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	'
Summary of derivative financial instruments used to manage currency exchange rate risk and interest rate risk	'
		Notional Amount
		June 30,			December 31,
		2014			2013
		(in millions)
	Foreign currency forward exchange contracts	$	805.3		$	805.5
	Interest rate swap agreements	$	300		$	300
Schedule of location and fair value amounts of derivative instruments reported in the consolidated condensed balance sheets	'
	The following table presents the location and fair value amounts of derivative instruments reported in the consolidated condensed balance sheets (in millions):
				Fair Value
	Derivatives designated as hedging	Balance Sheet		June 30,			December 31,
	instruments	Location		2014			2013
	Assets
	Foreign currency contracts	Other current assets		$	3.2		$	13.8
	Interest rate swap agreements	Other assets		$	0.7		$	—
	Liabilities
	Foreign currency contracts	Accrued and other liabilities		$	7.1		$	13.2
	Interest rate swap agreements	Other long-term liabilities		$	—		$	4
Schedule of effect of master-netting agreements and rights of offset on the consolidated condensed balance sheets	'
	The following table presents the effect of master-netting agreements and rights of offset on the consolidated condensed balance sheets (in millions):
											Gross Amounts Not
											Offset in the
					Gross						Consolidated Balance
					Amounts						Sheet
					Offset in the
					Consolidated			Net Amounts
					Balance Sheet			Presented in the
								Consolidated
	June 30, 2014	Gross						Balance Sheet			Financial			Cash		Net
		Amounts									Instruments			Collateral		Amount
														Received
	Derivative Assets
	Foreign currency contracts	$	3.2		$	—		$	3.2		$	(3.2	)	$	—	$	—
	Interest rate swap agreements	$	0.7		$	—		$	0.7		$	—		$	—	$	0.7
	Derivative Liabilities
	Foreign currency contracts	$	7.1		$	—		$	7.1		$	(3.2	)	$	—	$	3.9
	December 31, 2013
	Derivative Assets
	Foreign currency contracts	$	13.8		$	—		$	13.8		$	(9.5	)	$	—	$	4.3
	Derivative Liabilities
	Foreign currency contracts	$	13.2		$	—		$	13.2		$	(9.5	)	$	—	$	3.7
	Interest rate swap agreements	$	4		$	—		$	4		$	—		$	—	$	4
Schedule of effect of derivative instruments on the consolidated condensed statements of operations and consolidated condensed statements of comprehensive income	'
	The following tables present the effect of derivative instruments on the consolidated condensed statements of operations and consolidated condensed statements of comprehensive income (in millions):
		Amount of Gain or (Loss)								Amount of Gain or (Loss)
		Recognized in OCI								Reclassified from
		on Derivative								Accumulated OCI
		(Effective Portion)								into Income
		Three Months Ended								Three Months Ended
		June 30,						Location of Gain or		June 30,
								(Loss) Reclassified from
								Accumulated OCI
	Derivatives in cash flow hedging	2014			2013			into Income		2014			2013
	relationships
	Foreign currency contracts	$	(2.7	)	$	6		Cost of sales		$	3		$	5.8
		Amount of Gain or (Loss)								Amount of Gain or (Loss)
		Recognized in OCI								Reclassified from
		on Derivative								Accumulated OCI
		(Effective Portion)								into Income
		Six Months Ended								Six Months Ended
		June 30,						Location of Gain or		June 30,
								(Loss) Reclassified from
								Accumulated OCI
	Derivatives in cash flow hedging	2014			2013			into Income		2014			2013
	relationships
	Foreign currency contracts	$	(4.4	)	$	27.7		Cost of sales		$	8		$	11
				Amount of Gain or (Loss)
				Recognized in Income on
				Derivative
				Three Months Ended
		Location of Gain or (Loss)		June 30,
		Recognized in Income on
	Derivatives in fair value hedging	Derivative		2014			2013
	relationships
	Interest rate swap agreements	Interest expense, net		$	2.6		$	—
				Amount of Gain or (Loss)
				Recognized in Income on
				Derivative
				Six Months Ended
		Location of Gain or (Loss)		June 30,
		Recognized in Income on
	Derivatives in fair value hedging	Derivative		2014			2013
	relationships
	Interest rate swap agreements	Interest expense, net		$	4.7		$	—
				Amount of Gain or (Loss)
				Recognized in Income on
				Derivative
				Three Months Ended
		Location of Gain or (Loss)		June 30,
		Recognized in Income on
	Derivatives not designated as hedging	Derivative		2014			2013
	instruments
	Foreign currency contracts	Other expense, net		$	(2.5	)	$	5.1
				Amount of Gain or (Loss)
				Recognized in Income on
				Derivative
				Six Months Ended
		Location of Gain or (Loss)		June 30,
		Recognized in Income on
	Derivatives not designated as hedging	Derivative		2014			2013
	instruments
	Foreign currency contracts	Other expense, net		$	(3.2	)	$	14.4

DEFINED_BENEFIT_PLANS_Tables

DEFINED BENEFIT PLANS (Tables)	6 Months Ended
	Jun. 30, 2014
DEFINED BENEFIT PLANS	'
Components of net periodic benefit cost	'
	The components of net periodic benefit cost for the three and six months ended June 30, 2014 and 2013 were as follows (in millions):
		Three Months						Six Months
		Ended						Ended
		June 30,						June 30,
		2014			2013			2014			2013
	Service cost	$	1.8		$	1.9		$	3.5		$	3.9
	Interest cost		0.6			0.5			1.2			1
	Expected return on plan assets		(0.5	)		(0.3	)		(0.9	)		(0.6	)
	Amortization of actuarial loss, prior service credit and other		—			0.3			0.1			0.5
	Net periodic benefit cost	$	1.9		$	2.4		$	3.9		$	4.8

STOCKBASED_COMPENSATION_Tables

STOCK-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2014
STOCK-BASED COMPENSATION	'
Schedule of stock-based compensation expense	'
	Stock-based compensation expense related to awards issued under the Company's incentive compensation plans for the three and six months ended June 30, 2014 and 2013 was as follows (in millions):
		Three Months						Six Months
		Ended						Ended
		June 30,						June 30,
		2014			2013			2014			2013
	Cost of sales	$	1.5		$	1.5		$	3		$	2.9
	Selling, general and administrative expenses		8.6			9.4			17.4			17.6
	Research and development expenses		1.8			1.9			3.5			3.5
	Total stock-based compensation expense	$	11.9		$	12.8		$	23.9		$	24
Schedule of weighted-average assumptions for options granted	'
		Three Months						Six Months
		Ended						Ended
		June 30,						June 30,
		2014			2013			2014			2013
	Average risk-free interest rate		1.4	%		0.8	%		1.4	%		0.8	%
	Expected dividend yield		None			None			None			None
	Expected volatility		30.7	%		30.7	%		30.7	%		30.7	%
	Expected term (years)		4.5			4.6			4.6			4.6
	Fair value, per share	$	23.58		$	19.4		$	23.21		$	19.47
Schedule of weighted-average assumptions for ESPP subscriptions granted	'
		Three Months						Six Months
		Ended						Ended
		June 30,						June 30,
		2014			2013			2014			2013
	Average risk-free interest rate		0.1	%		0.1	%		0.1	%		0.1	%
	Expected dividend yield		None			None			None			None
	Expected volatility		29.2	%		33.3	%		31.3	%		35.4	%
	Expected term (years)		0.7			0.7			0.7			0.7
	Fair value, per share	$	18.33		$	21.48		$	16.96		$	22.94

ACCUMULATED_OTHER_COMPREHENSIV1

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	6 Months Ended
	Jun. 30, 2014
ACCUMULATED OTHER COMPREHENSIVE LOSS	'
Summary of activity for each component of Accumulated Other Comprehensive Loss	'
		Foreign			Unrealized Gain			Unrealized Gain			Unrealized			Total
		Currency			(Loss) on Cash			on Available-for-			Pension			Accumulated
		Translation			Flow Hedges			sale Investments			Costs			Other
		Adjustments												Comprehensive
														Loss
		(in millions)
	December 31, 2013	$	(20.2	)	$	3.5		$	0.3		$	(11.2	)	$	(27.6	)
	Other comprehensive loss before reclassifications		(6.2	)		(4.4	)		(0.3	)		—			(10.9	)
	Amounts reclassified from accumulated other comprehensive loss		—			(8.0	)		0.3			—			(7.7	)
	Deferred income tax benefit		—			5			0.1			—			5.1
	June 30, 2014	$	(26.4	)	$	(3.9	)	$	0.4		$	(11.2	)	$	(41.1	)
Schedule of amounts reclassified from Accumulated Other Comprehensive Loss	'
	The following table provides information about amounts reclassified from "Accumulated Other Comprehensive Loss" (in millions):
		Three Months						Six Months
		Ended						Ended
		June 30, 2014						June 30, 2014						Affected Line on Consolidated Condensed
	Details about Accumulated Other	2014			2013			2014			2013			Statements of Operations
	Comprehensive Loss Components
	Gain on cash flow hedges	$	3		$	5.8		$	8		$	11		Cost of sales
			(1.1	)		(2.3	)		(3.0	)		(4.2	)	Provision for income taxes
		$	1.9		$	3.5		$	5		$	6.8		Net of tax
	Loss on available-for-sale investments	$	(0.3	)	$	—		$	(0.3	)	$	—		Other expense, net
			—			—			—			—		Provision for income taxes
		$	(0.3	)	$	—		$	(0.3	)	$	—		Net of tax

EARNINGS_PER_SHARE_Tables

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2014
EARNINGS PER SHARE	'
Schedule of computation of basic and diluted earnings per share	'
	The table below presents the computation of basic and diluted earnings per share (in millions, except for per share information):
		Three Months				Six Months
		Ended				Ended
		June 30,				June 30,
		2014		2013		2014		2013
	Basic:
	Net income	$	547	$	93.3	$	607.3	$	237.2
	Weighted-average shares outstanding		105.6		112.6		106.1		113.3
	Basic earnings per share	$	5.18	$	0.83	$	5.72	$	2.09
	Diluted:
	Net income	$	547	$	93.3	$	607.3	$	237.2
	Weighted-average shares outstanding		105.6		112.6		106.1		113.3
	Dilutive effect of stock plans		1.8		2.1		1.8		2.3
	Dilutive weighted-average shares outstanding		107.4		114.7		107.9		115.6
	Diluted earnings per share	$	5.09	$	0.81	$	5.63	$	2.05

SEGMENT_INFORMATION_Tables

SEGMENT INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2014
SEGMENT INFORMATION	'
Information about reportable segments	'
	The table below presents information about Edwards Lifesciences' reportable segments (in millions):
		Three Months						Six Months
		Ended						Ended
		June 30,						June 30,
		2014			2013			2014			2013
	Segment Net Sales
	United States	$	242		$	240.5		$	464.4		$	468.4
	Europe		188.3			160.7			363.9			316.2
	Japan		68.2			73			128.4			140.3
	Rest of World		75.1			63.1			138.8			117.6
	Total segment net sales	$	573.6		$	537.3		$	1,095.50		$	1,042.50
	Segment Pre-tax Income
	United States	$	131.2		$	142.7		$	249.6		$	275.5
	Europe		87.7			73.7			167.9			146.2
	Japan		31.9			36.9			59.5			70.4
	Rest of World		23.7			17.5			40			30
	Total segment pre-tax income	$	274.5		$	270.8		$	517		$	522.1
Reconciliations of segment net sales to consolidated net sales and segment pre-tax income to consolidated pre-tax income	'
	The table below presents reconciliations of segment net sales to consolidated net sales and segment pre-tax income to consolidated pre-tax income (in millions):
		Three Months						Six Months
		Ended						Ended
		June 30,						June 30,
		2014			2013			2014			2013
	Net Sales Reconciliation
	Segment net sales	$	573.6		$	537.3		$	1,095.50		$	1,042.50
	Foreign currency		1.5			(20.1	)		2			(28.6	)
	Consolidated net sales	$	575.1		$	517.2		$	1,097.50		$	1,013.90
	Pre-tax Income Reconciliation
	Segment pre-tax income	$	274.5		$	270.8		$	517		$	522.1
	Unallocated amounts:
	Corporate items		(158.1	)		(143.3	)		(312.7	)		(283.0	)
	Special charges (Note 4)		(50.0	)		—			(57.5	)		—
	Intellectual property litigation income (expense), net (Note 3)		747.4			(5.5	)		741.9			72.6
	Interest expense, net		(3.1	)		(0.4	)		(6.6	)		(0.2	)
	Foreign currency		2.5			(1.1	)		8.4			(0.4	)
	Consolidated pre-tax income	$	813.2		$	120.5		$	890.5		$	311.1
Enterprise-wide information	'
		Three Months						Six Months
		Ended						Ended
		June 30,						June 30,
		2014			2013			2014			2013
		(in millions)
	Net Sales by Geographic Area
	United States	$	242		$	240.5		$	464.4		$	468.4
	Europe		193.8			155.3			374.1			309.8
	Japan		66.7			59.3			125.4			119.3
	Rest of World		72.6			62.1			133.6			116.4
		$	575.1		$	517.2		$	1,097.50		$	1,013.90
	Net Sales by Major Product and Service Area
	Transcatheter Heart Valves	$	219.7		$	182.1		$	408.9		$	351.8
	Surgical Heart Valve Therapy		214			204.3			416.6			402.4
	Critical Care		141.4			130.8			272			259.7
		$	575.1		$	517.2		$	1,097.50		$	1,013.90
		June 30,			December 31,
		2014			2013
		(in millions)
	Long-lived Tangible Assets by Geographic Area
	United States	$	310.7		$	308.2
	Europe		41.8			40.9
	Japan		10			10.8
	Rest of World		95.7			97.1
		$	458.2		$	457

BASIS_OF_PRESENTATION_Details

BASIS OF PRESENTATION (Details) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Net cash used in investing activities	$590.20	$59.30
Restatement adjustment	'	'
Net cash used in investing activities	'	$14.90

CHANGE_IN_ACCOUNTING_PRINCIPLE2

CHANGE IN ACCOUNTING PRINCIPLE (Details) (USD $)	3 Months Ended		6 Months Ended					3 Months Ended	6 Months Ended
In Millions, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013	Dec. 31, 2013	Jan. 02, 2013	Jun. 30, 2013	Jun. 30, 2013	Dec. 31, 2013
						Patents	Change in method of accounting for certain intellectual property litigation expenses related to defense and enforcement of issued patents	Change in method of accounting for certain intellectual property litigation expenses related to defense and enforcement of issued patents	Change in method of accounting for certain intellectual property litigation expenses related to defense and enforcement of issued patents	Change in method of accounting for certain intellectual property litigation expenses related to defense and enforcement of issued patents
						As Reported		As Reported	As Reported	As Reported
Change in accounting principle	'	'	'	'	'	'	'	'	'	'
Unamortized capitalized legal costs	'	'	'	'	'	$23.70	'	'	'	'
Cumulative effect of change in accounting principle on retained earnings	'	'	'	'	'	'	12.2	'	'	'
Consolidated Condensed Balance Sheet	'	'	'	'	'	'	'	'	'	'
Other intangible assets, net	29.5	'	29.5	'	33.5	'	'	'	'	57.2
Deferred income taxes	69.9	'	69.9	'	79	'	'	'	'	70.1
Total assets	3,326.60	'	3,326.60	'	2,709.90	'	'	'	'	2,724.70
Retained earnings	2,638.10	'	2,638.10	'	2,030.80	'	'	'	'	2,045.60
Total stockholders' equity	1,914.90	'	1,914.90	'	1,544.40	'	'	'	'	1,559.20
Total liabilities and stockholders' equity	3,326.60	'	3,326.60	'	2,709.90	'	'	'	'	2,724.70
Consolidated Condensed Statement of Operations	'	'	'	'	'	'	'	'	'	'
Cost of sales	151.2	123.6	297.1	244.6	'	'	'	125	247.2	'
Gross profit	423.9	393.6	800.4	769.3	'	'	'	392.2	766.7	'
Selling, general and administrative expenses	215.5	186.6	412.7	369	'	'	'	189.4	374.6	'
Intellectual property litigation expense (income), net	-747.4	5.5	-741.9	-72.6	'	'	'	'	'	'
Special gain	50	'	57.5	'	'	'	'	'	-83.6	'
Income before provision for income taxes	813.2	120.5	890.5	311.1	'	'	'	121.8	313.9	'
Provision for income taxes	266.2	27.2	283.2	73.9	'	'	'	27.7	74.9	'
Net income	547	93.3	607.3	237.2	'	'	'	94.1	239	'
Earnings per share:	'	'	'	'	'	'	'	'	'	'
Basic (in dollars per share)	$5.18	$0.83	$5.72	$2.09	'	'	'	$0.84	$2.11	'
Diluted (in dollars per share)	$5.09	$0.81	$5.63	$2.05	'	'	'	$0.82	$2.07	'
Consolidated Condensed Statement of Comprehensive Income	'	'	'	'	'	'	'	'	'	'
Net income	547	93.3	607.3	237.2	'	'	'	94.1	239	'
Comprehensive income	538.3	97.3	593.8	227.1	'	'	'	98.1	228.9	'
Consolidated Condensed Statement of Cash Flows	'	'	'	'	'	'	'	'	'	'
Net income	547	93.3	607.3	237.2	'	'	'	94.1	239	'
Adjustments to reconcile net income to cash provided by operating activities:	'	'	'	'	'	'	'	'	'	'
Depreciation and amortization	'	'	32.3	28.8	'	'	'	'	31.4	'
Other	'	'	-2	0.8	'	'	'	'	1.1	'
Changes in operating assets and liabilities:	'	'	'	'	'	'	'	'	'	'
Prepaid expenses and other current assets	'	'	-10.8	25.2	'	'	'	'	26.2	'
Other	'	'	$3.70	$0.30	'	'	'	'	($5.40)	'

INTELLECTUAL_PROPERTY_LITIGATI2

INTELLECTUAL PROPERTY LITIGATION (INCOME) EXPENSE, NET (Details) (Medtronic litigation settlement, USD $)	1 Months Ended		1 Months Ended		3 Months Ended
In Millions, unless otherwise specified	31-May-14	31-May-14	31-May-14	31-May-14	Jun. 30, 2014	31-May-14	31-May-14	31-May-14
		Estimated fair value	United States	United States	Past damages	Past damages	License agreement	Covenant not to sue
			Minimum	Maximum		Estimated fair value	Estimated fair value	Estimated fair value
Settlement agreement	'	'	'	'	'	'	'	'
Term of agreement	'8 years	'	'	'	'	'	'	'
Amount of upfront payment received	$750	'	'	'	'	'	'	'
Annual royalty payment	'	'	40	60	'	'	'	'
Consideration	'	1,070	'	'	'	754.3	238	77.7
Upfront payment recognized	$750	'	'	'	$750	'	'	'

INTELLECTUAL_PROPERTY_LITIGATI3

INTELLECTUAL PROPERTY LITIGATION (INCOME) EXPENSE, NET (Details 2) (USD $)	1 Months Ended	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Feb. 28, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
	CoreValve, Inc.	Intellectual property	Intellectual property	Intellectual property	Intellectual property
Litigation (income) expense	'	'	'	'	'
External legal costs related to intellectual property litigation	'	$2.60	$5.50	$8.10	$11
Amount of payment received from Medtronic in satisfaction of initial April 2010 jury award of damages for infringement, including accrued interest	$83.60	'	'	'	'

SPECIAL_CHARGES_Details

SPECIAL CHARGES (Details) (Edwards Lifesciences Foundation, Charitable foundation contribution, USD $)	1 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014
Edwards Lifesciences Foundation | Charitable foundation contribution	'
Related party transaction	'
Related party expense	$50

SPECIAL_CHARGES_Details_2

SPECIAL CHARGES (Details 2) (USD $)	3 Months Ended	6 Months Ended	1 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2014	Mar. 31, 2014
			Intellectual property agreement
Licensing of intellectual property	'	'	'
Special charges (Note 4)	$50	$57.50	$7.50

INVENTORIES_Details

INVENTORIES (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Inventories	'	'
Raw materials	$60.40	$57.80
Work in process	79.1	82.2
Finished products	177.6	168.9
Total inventories	$317.10	$308.90

INVESTMENTS_Details

INVESTMENTS (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Held-to-maturity investments	'	'
Cost	$1,066.40	$516.50
Gross Unrealized Gains	0.1	'
Total	1,066.50	516.5
Bank time deposits	'	'
Held-to-maturity investments	'	'
Cost	886.3	516.5
Total	886.3	516.5
Commercial paper	'	'
Held-to-maturity investments	'	'
Cost	89.8	'
Total	89.8	'
U.S. government and agency securities	'	'
Held-to-maturity investments	'	'
Cost	50.8	'
Gross Unrealized Gains	0.1	'
Total	50.9	'
Asset-backed securities	'	'
Held-to-maturity investments	'	'
Cost	9.4	'
Total	9.4	'
Corporate debt securities	'	'
Held-to-maturity investments	'	'
Cost	25	'
Total	25	'
Municipal securities	'	'
Held-to-maturity investments	'	'
Cost	5.1	'
Total	$5.10	'

INVESTMENTS_Details_2

INVESTMENTS (Details 2) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Cost	'	'
Due in 1 year or less	$985.50	'
Due after 1 year through 5 years	63.6	'
Instruments not due at a single maturity date	17.3	'
Total	1,066.40	516.5
Fair Value	'	'
Due in 1 year or less	985.5	'
Due after 1 year through 5 years	63.7	'
Instruments not due at a single maturity date	17.3	'
Total	$1,066.50	$516.50

INVESTMENTS_Details_3

INVESTMENTS (Details 3) (USD $)	1 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Available-for-sale investments	'	'	'
Cost	'	$0.40	$0.40
Unrealized gains	'	0.1	0.4
Fair value of available-for-sale investments	'	0.5	0.8
Equity method investments	'	'	'
Cost	'	12.4	14.1
Equity in losses	'	-1.5	-2.7
Carrying value of equity method investments	'	10.9	11.4
Cost method investments	'	'	'
Carrying value of cost method investments	'	6.7	9.7
Total investments in unconsolidated affiliates	'	18.1	21.9
Other-than-temporary impairment cost method investments	$3.50	'	'

OTHER_INTANGIBLE_ASSETS_Detail

OTHER INTANGIBLE ASSETS (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Amortizable intangible assets	'	'
Cost	$240.20	$235.60
Accumulated Amortization	-210.7	-206.7
Net Carrying Value	29.5	28.9
Unamortizable intangible assets	'	'
Gross intangible Assets	240.2	240.2
Total Net Carrying Amount of Intangible Assets	29.5	33.5
In-process research and development	'	'
Unamortizable intangible assets	'	'
Net Carrying Value	'	4.6
Patents	'	'
Amortizable intangible assets	'	'
Cost	181.5	181.6
Accumulated Amortization	-166.3	-163.5
Net Carrying Value	15.2	18.1
Developed technology	'	'
Amortizable intangible assets	'	'
Cost	48	43.3
Accumulated Amortization	-36	-35.1
Net Carrying Value	12	8.2
Other	'	'
Amortizable intangible assets	'	'
Cost	10.7	10.7
Accumulated Amortization	-8.4	-8.1
Net Carrying Value	$2.30	$2.60

OTHER_INTANGIBLE_ASSETS_Detail1

OTHER INTANGIBLE ASSETS (Details 2) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
OTHER INTANGIBLE ASSETS	'	'	'	'	'
Amortization expense related to other intangible assets	$2	$2.50	$4.10	$5	'
Estimated amortization expense	'	'	'	'	'
2014	'	'	'	'	8.5
2015	'	'	'	'	7.8
2016	'	'	'	'	7.6
2017	'	'	'	'	6.9
2018	'	'	'	'	$1.60

DEBT_Details

DEBT (Details) (USD $)	Oct. 31, 2013	Jun. 30, 2014	Jun. 30, 2014	Jul. 31, 2014	Jul. 31, 2014	Jul. 31, 2014	Jul. 31, 2014	Jul. 31, 2014	Jul. 31, 2014
	Senior Notes due 2018	Senior Notes due 2018	Credit Facility	Credit Facility	Credit Facility	Credit Facility	Credit Facility	Credit Facility	Credit Facility
		Carrying value	Credit agreement, maturity July 2015	Credit agreement, maturity July 2019	Credit agreement, maturity July 2019	Credit agreement, maturity July 2019	Credit agreement, maturity July 2019	Credit agreement, maturity July 2019	Credit agreement, maturity July 2019
					Minimum	Maximum	LIBOR	LIBOR	LIBOR
								Minimum	Maximum
Debt and credit facility	'	'	'	'	'	'	'	'	'
Principal amount	$600,000,000	'	'	'	'	'	'	'	'
Interest rate (as a percent)	2.88%	'	'	'	'	'	'	'	'
Effective interest rate (as a percent)	2.98%	'	'	'	'	'	'	'	'
Issuance costs	5,400,000	'	'	'	'	'	'	'	'
Issuance discount	3,000,000	'	'	'	'	'	'	'	'
Value of the Notes	'	598,000,000	'	'	'	'	'	'	'
Term	'	'	'4 years	'5 years	'	'	'	'	'
Maximum aggregate borrowings under the facility	'	'	750,000,000	750,000,000	'	'	'	'	'
Borrowings outstanding under the facility	'	'	0	'	'	'	'	'	'
Optional increase in amount available, subject to lender approval	'	'	'	'	'	$250,000,000	'	'	'
Reference interest rate of the credit agreement	'	'	'	'	'	'	'LIBOR	'	'
Percent spread added to reference rate of unsecured credit facility	'	'	'	'	'	'	'	1.00%	1.50%
Facility fee (as a percent)	'	'	'	'	0.13%	0.25%	'	'	'

FAIR_VALUE_MEASUREMENTS_Detail

FAIR VALUE MEASUREMENTS (Details) (Fair value, Level 2, USD $)	Jun. 30, 2014
In Millions, unless otherwise specified
Fair value | Level 2	'
Financial instruments	'
Fair value of notes payable	$617.40

FAIR_VALUE_MEASUREMENTS_Detail1

FAIR VALUE MEASUREMENTS (Details 2) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Assets	'	'
Available-for-sale investments	$0.50	$0.80
Fair Value on a Recurring Basis | Level 1	'	'
Assets	'	'
Investments held for deferred compensation plans	26.5	15.1
Available-for-sale investments	0.5	0.8
Total assets	27	15.9
Liabilities	'	'
Deferred compensation plans	26.5	15.5
Total liabilities	26.5	15.5
Fair Value on a Recurring Basis | Level 2	'	'
Assets	'	'
Derivatives	3.9	13.8
Total assets	3.9	13.8
Liabilities	'	'
Derivatives	7.1	17.2
Total liabilities	7.1	17.2
Fair Value on a Recurring Basis | Fair value	'	'
Assets	'	'
Investments held for deferred compensation plans	26.5	15.1
Available-for-sale investments	0.5	0.8
Derivatives	3.9	13.8
Total assets	30.9	29.7
Liabilities	'	'
Derivatives	7.1	17.2
Deferred compensation plans	26.5	15.5
Total liabilities	$33.60	$32.70

DERIVATIVE_INSTRUMENTS_AND_HED2

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014	Dec. 31, 2013
		Foreign currency forward exchange contracts	Foreign currency forward exchange contracts	Interest rate swap agreements	Interest rate swap agreements
Derivative Financial Instruments	'	'	'	'	'
Notional Amount	'	$805.30	$805.50	$300	$300
Maximum period of time currency rate movements in future cash flows associated with intercompany transactions and certain third-party expenses are hedged	'13 months	'	'	'	'

DERIVATIVE_INSTRUMENTS_AND_HED3

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details 2) (Designated as hedging instruments, USD $)	Jun. 30, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Foreign currency contracts | Other current assets	'	'
Derivatives designated as hedging instruments	'	'
Fair value of derivative assets	$3.20	$13.80
Foreign currency contracts | Accrued and other liabilities	'	'
Derivatives designated as hedging instruments	'	'
Fair value of derivative liabilities	7.1	13.2
Interest rate swap agreements | Other assets	'	'
Derivatives designated as hedging instruments	'	'
Fair value of derivative assets	0.7	'
Interest rate swap agreements | Other long-term liabilities	'	'
Derivatives designated as hedging instruments	'	'
Fair value of derivative liabilities	'	$4

DERIVATIVE_INSTRUMENTS_AND_HED4

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details 3) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Foreign currency contracts	'	'
Derivative Asset	'	'
Gross Amounts	$3.20	$13.80
Net Amounts Presented in the Consolidated Balance Sheet	3.2	13.8
Derivative Assets, Gross Amounts Not Offset in the Consolidated Balance Sheet	'	'
Financial Instruments	-3.2	-9.5
Net amount	'	4.3
Derivative Liabilities	'	'
Gross Amounts	7.1	13.2
Net Amounts Presented in the Consolidated Balance Sheet	7.1	13.2
Derivative Liabilities, Gross Amounts Not Offset in the Consolidated Balance Sheet	'	'
Financial Instruments	-3.2	-9.5
Net amount	3.9	3.7
Interest rate swap agreements	'	'
Derivative Asset	'	'
Gross Amounts	0.7	'
Net Amounts Presented in the Consolidated Balance Sheet	0.7	'
Derivative Assets, Gross Amounts Not Offset in the Consolidated Balance Sheet	'	'
Net amount	0.7	'
Derivative Liabilities	'	'
Gross Amounts	'	4
Net Amounts Presented in the Consolidated Balance Sheet	'	4
Derivative Liabilities, Gross Amounts Not Offset in the Consolidated Balance Sheet	'	'
Net amount	'	$4

DERIVATIVE_INSTRUMENTS_AND_HED5

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details 4) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Derivative Instruments, Gain (Loss)	'	'	'	'
Expected reclassification of loss recorded in accumulated other comprehensive loss into earnings during next twelve months	'	'	($2.80)	'
Derivatives not designated as hedging instruments | Foreign currency contracts | Other expense, net	'	'	'	'
Derivative Instruments, Gain (Loss)	'	'	'	'
Amount of Gain or (Loss) Recognized in Income on Derivative	-2.5	5.1	-3.2	14.4
Derivatives in cash flow hedging relationships | Foreign currency contracts	'	'	'	'
Derivative Instruments, Gain (Loss)	'	'	'	'
Amount of Gain or (Loss) Recognized in OCI on Derivative (Effective Portion)	-2.7	6	-4.4	27.7
Derivatives in cash flow hedging relationships | Foreign currency contracts | Cost of sales	'	'	'	'
Derivative Instruments, Gain (Loss)	'	'	'	'
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income	3	5.8	8	11
Derivatives in fair value hedging relationship | Interest rate swap agreements | Interest expense, net	'	'	'	'
Derivative Instruments, Gain (Loss)	'	'	'	'
Amount of Gain or (Loss) Recognized in Income on Derivative	$2.60	'	$4.70	'

DEFINED_BENEFIT_PLANS_Details

DEFINED BENEFIT PLANS (Details) (Defined benefit pension plans, USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Defined benefit pension plans	'	'	'	'
Components of net periodic benefit cost	'	'	'	'
Service cost	$1.80	$1.90	$3.50	$3.90
Interest cost	0.6	0.5	1.2	1
Expected return on plan assets	-0.5	-0.3	-0.9	-0.6
Amortization of actuarial loss, prior service credit and other	'	0.3	0.1	0.5
Net periodic benefit cost	$1.90	$2.40	$3.90	$4.80

STOCKBASED_COMPENSATION_Detail

STOCK-BASED COMPENSATION (Details) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Allocation of stock-based compensation expense	'	'	'	'
Stock-based compensation expense	$11.90	$12.80	$23.90	$24
Unrecognized compensation expense related to nonvested stock options, restricted stock units, market-based restricted stock units and employee stock purchase subscriptions	100.8	'	100.8	'
Period over which unrecognized compensation expense is expected to be recognized	'	'	'32 months	'
Cost of sales	'	'	'	'
Allocation of stock-based compensation expense	'	'	'	'
Stock-based compensation expense	1.5	1.5	3	2.9
Selling, general and administrative expenses	'	'	'	'
Allocation of stock-based compensation expense	'	'	'	'
Stock-based compensation expense	8.6	9.4	17.4	17.6
Research and development expenses	'	'	'	'
Allocation of stock-based compensation expense	'	'	'	'
Stock-based compensation expense	$1.80	$1.90	$3.50	$3.50

STOCKBASED_COMPENSATION_Detail1

STOCK-BASED COMPENSATION (Details 2) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Option Awards	'	'	'	'
Weighted-average assumptions for MRSUs, options and ESPP subscriptions granted	'	'	'	'
Options granted (in shares)	'	'	1,300,000	'
Weighted-average exercise price of options granted (in dollars per share)	'	'	$82.23	'
Average risk-free interest rate (as a percent)	1.40%	0.80%	1.40%	0.80%
Expected dividend yield (as a percent)	0.00%	0.00%	0.00%	0.00%
Expected volatility (as a percent)	30.70%	30.70%	30.70%	30.70%
Expected term	'4 years 6 months	'4 years 7 months 6 days	'4 years 7 months 6 days	'4 years 7 months 6 days
Fair value, per share	$23.58	$19.40	$23.21	$19.47
ESPP	'	'	'	'
Weighted-average assumptions for MRSUs, options and ESPP subscriptions granted	'	'	'	'
Average risk-free interest rate (as a percent)	0.10%	0.10%	0.10%	0.10%
Expected dividend yield (as a percent)	0.00%	0.00%	0.00%	0.00%
Expected volatility (as a percent)	29.20%	33.30%	31.30%	35.40%
Expected term	'8 months 12 days	'8 months 12 days	'8 months 12 days	'8 months 12 days
Fair value, per share	$18.33	$21.48	$16.96	$22.94
Restricted stock units	'	'	'	'
Weighted-average assumptions for MRSUs, options and ESPP subscriptions granted	'	'	'	'
Awards granted (in shares)	'	'	200,000	'
Weighted-average grant-date fair value of shares granted (in dollar per share)	'	'	$78.88	'
Market-based restricted stock units	'	'	'	'
Weighted-average assumptions for MRSUs, options and ESPP subscriptions granted	'	'	'	'
Awards granted (in shares)	'	'	39,000	'
Weighted-average grant-date fair value of shares granted (in dollar per share)	'	'	$108.75	'
Average risk-free interest rate (as a percent)	'	'	0.90%	0.40%
Expected volatility (as a percent)	'	'	31.70%	33.40%
Market-based restricted stock units | Total shareholder return relative to selected industry peer group	'	'	'	'
Weighted-average assumptions for MRSUs, options and ESPP subscriptions granted	'	'	'	'
Vesting period	'	'	'3 years	'
Market-based restricted stock units | Total shareholder return relative to selected industry peer group | Minimum	'	'	'	'
Weighted-average assumptions for MRSUs, options and ESPP subscriptions granted	'	'	'	'
Percentage of targeted number of shares granted	'	'	0.00%	'
Market-based restricted stock units | Total shareholder return relative to selected industry peer group | Maximum	'	'	'	'
Weighted-average assumptions for MRSUs, options and ESPP subscriptions granted	'	'	'	'
Percentage of targeted number of shares granted	'	'	175.00%	'

ACCUMULATED_OTHER_COMPREHENSIV2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Dec. 31, 2013
		Foreign Currency Translation Adjustments	Unrealized Gain (Loss) on Cash Flow Hedges	Unrealized Gain on Available-for-Sale Investments	Unrealized Pension Costs	Unrealized Pension Costs
Changes in accumulated other comprehensive loss components	'	'	'	'	'	'
Balance at the beginning of the period	($27.60)	($20.20)	$3.50	$0.30	($11.20)	($11.20)
Other comprehensive loss before reclassifications	-10.9	-6.2	-4.4	-0.3	'	'
Amounts reclassified from accumulated other comprehensive loss	-7.7	'	-8	0.3	'	'
Deferred income tax benefit	5.1	'	5	0.1	'	'
Balance at the end of the period	($41.10)	($26.40)	($3.90)	$0.40	($11.20)	($11.20)

ACCUMULATED_OTHER_COMPREHENSIV3

ACCUMULATED OTHER COMPREHENSIVE LOSS (Details 2) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Amounts reclassified from accumulated other comprehensive loss to affected line on Consolidated Statements of Operations	'	'	'	'
Cost of sales	($151.20)	($123.60)	($297.10)	($244.60)
Other expense, net	-0.4	-0.1	-0.1	-1.3
Provision for income taxes	-266.2	-27.2	-283.2	-73.9
Net income	547	93.3	607.3	237.2
Gain on cash flow hedges | Amount Reclassified from Accumulated Other Comprehensive Loss	'	'	'	'
Amounts reclassified from accumulated other comprehensive loss to affected line on Consolidated Statements of Operations	'	'	'	'
Cost of sales	3	5.8	8	11
Provision for income taxes	-1.1	-2.3	-3	-4.2
Net income	1.9	3.5	5	6.8
Loss on available-for-sale investments | Amount Reclassified from Accumulated Other Comprehensive Loss	'	'	'	'
Amounts reclassified from accumulated other comprehensive loss to affected line on Consolidated Statements of Operations	'	'	'	'
Other expense, net	-0.3	'	-0.3	'
Net income	($0.30)	'	($0.30)	'

EARNINGS_PER_SHARE_Details

EARNINGS PER SHARE (Details) (USD $)	3 Months Ended		6 Months Ended
In Millions, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Basic:	'	'	'	'
Net income	$547	$93.30	$607.30	$237.20
Weighted-average shares outstanding	105.6	112.6	106.1	113.3
Basic earnings per share (in dollars per share)	$5.18	$0.83	$5.72	$2.09
Diluted:	'	'	'	'
Net income	$547	$93.30	$607.30	$237.20
Weighted-average shares outstanding	105.6	112.6	106.1	113.3
Dilutive effect of stock plans (in shares)	1.8	2.1	1.8	2.3
Dilutive weighted-average shares outstanding	107.4	114.7	107.9	115.6
Diluted earnings per share (in dollars per share)	$5.09	$0.81	$5.63	$2.05

EARNINGS_PER_SHARE_Details_2

EARNINGS PER SHARE (Details 2) (Stock compensation plan)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Stock compensation plan	'	'	'	'
Anti-dilutive securities	'	'	'	'
Anti-dilutive securities excluded from the computation of earnings per share (in shares)	4.4	3.7	4	3

INCOME_TAXES_Details

INCOME TAXES (Details) (USD $)	3 Months Ended		6 Months Ended		12 Months Ended	1 Months Ended	6 Months Ended	1 Months Ended	3 Months Ended	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013	Feb. 28, 2013	Jun. 30, 2013	31-May-14	Jun. 30, 2014	Jun. 30, 2014
						CoreValve, Inc.	CoreValve, Inc.	Medtronic litigation settlement	Medtronic litigation settlement	Medtronic litigation settlement
INCOME TAXES	'	'	'	'	'	'	'	'	'	'
Effective income tax rates (as a percent)	32.70%	22.60%	31.80%	23.80%	'	'	'	'	'	'
Re-measurement of uncertain tax positions	$6.20	'	$6.20	'	'	'	'	'	'	'
Favorable impact of the federal research credit on the effective income tax rate (as a percent)	'	'	'	'	1.30%	'	'	'	'	'
Tax benefit related to federal research credit	'	'	'	8.4	'	'	'	'	'	'
Liability for income taxes associated with uncertain tax positions	172	'	172	'	127.7	'	'	'	'	'
Offsetting tax benefits associated with correlative effects of potential transfer pricing adjustments, state income taxes and timing adjustments	30.3	'	30.3	'	30.9	'	'	'	'	'
Net liability for income taxes associated with uncertain tax positions	141.7	'	141.7	'	96.8	'	'	'	'	'
LEGAL PROCEEDINGS	'	'	'	'	'	'	'	'	'	'
Tax expense	266.2	27.2	283.2	73.9	'	'	31.3	'	262.1	262.1
Litigation settlement payment received from Medtronic	'	'	'	'	'	$83.60	'	$750	'	'

SEGMENT_INFORMATION_Details

SEGMENT INFORMATION (Details) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Information about reportable segments and reconciliations of segment net sales to consolidated net sales and segment pre-tax income to consolidated pre-tax income	'	'	'	'
Net sales	$575.10	$517.20	$1,097.50	$1,013.90
Pre-tax income	813.2	120.5	890.5	311.1
Unallocated amounts:	'	'	'	'
Special charges (Note 4)	-50	'	-57.5	'
Intellectual property litigation income (expense), net (Note 3)	747.4	-5.5	741.9	72.6
Interest expense, net	-3.1	-0.4	-6.6	-0.2
Total segment	'	'	'	'
Information about reportable segments and reconciliations of segment net sales to consolidated net sales and segment pre-tax income to consolidated pre-tax income	'	'	'	'
Net sales	573.6	537.3	1,095.50	1,042.50
Pre-tax income	274.5	270.8	517	522.1
Total segment | United States	'	'	'	'
Information about reportable segments and reconciliations of segment net sales to consolidated net sales and segment pre-tax income to consolidated pre-tax income	'	'	'	'
Net sales	242	240.5	464.4	468.4
Pre-tax income	131.2	142.7	249.6	275.5
Total segment | Europe	'	'	'	'
Information about reportable segments and reconciliations of segment net sales to consolidated net sales and segment pre-tax income to consolidated pre-tax income	'	'	'	'
Net sales	188.3	160.7	363.9	316.2
Pre-tax income	87.7	73.7	167.9	146.2
Total segment | Japan	'	'	'	'
Information about reportable segments and reconciliations of segment net sales to consolidated net sales and segment pre-tax income to consolidated pre-tax income	'	'	'	'
Net sales	68.2	73	128.4	140.3
Pre-tax income	31.9	36.9	59.5	70.4
Total segment | Rest of World	'	'	'	'
Information about reportable segments and reconciliations of segment net sales to consolidated net sales and segment pre-tax income to consolidated pre-tax income	'	'	'	'
Net sales	75.1	63.1	138.8	117.6
Pre-tax income	23.7	17.5	40	30
Reconciling items (Unallocated amounts), foreign currency	'	'	'	'
Information about reportable segments and reconciliations of segment net sales to consolidated net sales and segment pre-tax income to consolidated pre-tax income	'	'	'	'
Net sales	1.5	-20.1	2	-28.6
Pre-tax income	2.5	-1.1	8.4	-0.4
Corporate, non-segment	'	'	'	'
Unallocated amounts:	'	'	'	'
Corporate items	($158.10)	($143.30)	($312.70)	($283)

SEGMENT_INFORMATION_Details_2

SEGMENT INFORMATION (Details 2) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Net Sales by Geographic Area and by Major Product and Service Area	'	'	'	'	'
Net sales	$575.10	$517.20	$1,097.50	$1,013.90	'
Long-lived Tangible Assets by Geographic Area	'	'	'	'	'
Long-lived tangible assets	458.2	'	458.2	'	457
Transcatheter Heart Valves	'	'	'	'	'
Net Sales by Geographic Area and by Major Product and Service Area	'	'	'	'	'
Net sales	219.7	182.1	408.9	351.8	'
Surgical Heart Valve Therapy	'	'	'	'	'
Net Sales by Geographic Area and by Major Product and Service Area	'	'	'	'	'
Net sales	214	204.3	416.6	402.4	'
Critical Care	'	'	'	'	'
Net Sales by Geographic Area and by Major Product and Service Area	'	'	'	'	'
Net sales	141.4	130.8	272	259.7	'
United States	'	'	'	'	'
Net Sales by Geographic Area and by Major Product and Service Area	'	'	'	'	'
Net sales	242	240.5	464.4	468.4	'
Long-lived Tangible Assets by Geographic Area	'	'	'	'	'
Long-lived tangible assets	310.7	'	310.7	'	308.2
Europe	'	'	'	'	'
Net Sales by Geographic Area and by Major Product and Service Area	'	'	'	'	'
Net sales	193.8	155.3	374.1	309.8	'
Long-lived Tangible Assets by Geographic Area	'	'	'	'	'
Long-lived tangible assets	41.8	'	41.8	'	40.9
Japan	'	'	'	'	'
Net Sales by Geographic Area and by Major Product and Service Area	'	'	'	'	'
Net sales	66.7	59.3	125.4	119.3	'
Long-lived Tangible Assets by Geographic Area	'	'	'	'	'
Long-lived tangible assets	10	'	10	'	10.8
Rest of World	'	'	'	'	'
Net Sales by Geographic Area and by Major Product and Service Area	'	'	'	'	'
Net sales	72.6	62.1	133.6	116.4	'
Long-lived Tangible Assets by Geographic Area	'	'	'	'	'
Long-lived tangible assets	$95.70	'	$95.70	'	$97.10