Hospira 10-Q 29 Jul 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 27, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	HOSPIRA INC
Entity Central Index Key	1,274,057
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
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		172,934,361
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Net sales	$ 1,183.6	$ 1,135.8	$ 2,358.5	$ 2,186.6
Cost of products sold	664.2	735.8	1,315.6	1,417
Restructuring and impairment	(0.3)	13.5	30.8	14.2
Research and development	89.8	75.7	225.2	158.9
Selling, general and administrative	211.3	211.3	434.9	397.4
Total operating costs and expenses	965	1,036.3	2,006.5	1,987.5
Income From Operations	218.6	99.5	352	199.1
Interest expense	15.2	19.2	30.2	39.7
Other income, net	(2.6)	(0.8)	(6.1)	(2.8)
Income Before Income Taxes	206	81.1	327.9	162.2
Income tax expense	62.2	18.9	110.1	35.4
Undistributed equity income from affiliates	(1.3)	(8.7)	(2.9)	(12)
Net Income	$ 145.1	$ 70.9	$ 220.7	$ 138.8
Earnings Per Common Share:
Basic (in dollars per share)	$ 0.84	$ 0.42	$ 1.28	$ 0.83
Diluted (in dollars per share)	$ 0.82	$ 0.42	$ 1.26	$ 0.82
Weighted Average Common Shares Outstanding:
Basic (in shares)	172.8	167.7	172.1	167.1
Diluted (in shares)	176.1	170	175.6	169.8
Statements of Comprehensive Income:
Foreign currency translation adjustments, net of taxes of $0.0 for all periods	$ 4.3	$ 10	$ (63.4)	$ 38.7
Pension liability adjustments, net of taxes of $(2.6) and $(1.0) for the three months ended June 30, 2015 and 2014, respectively, and $(3.6) and $(2.5) for the six months ended June 30, 2015 and 2014, respectively	2.3	2.2	6.2	3.9
Unrealized (losses) gains on investments, net of taxes of $0.6 and $0.0 for the three months ended June 30, 2015 and 2014, respectively, and $(0.6) and $0.0 for the six months ended June 30, 2015 and 2014, respectively	(0.8)	1	0.7	0.6
Cash flow hedge adjustments, net of taxes of $0.0 for all periods	0	0.1	0.1	0.1
Other Comprehensive Income (Loss)	5.8	13.3	(56.4)	43.3
Net Income	145.1	70.9	220.7	138.8
Comprehensive Income	$ 150.9	$ 84.2	$ 164.3	$ 182.1

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Income and Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustments, taxes	$ 0	$ 0	$ 0	$ 0
Pension liability adjustments, taxes	(2.6)	(1)	(3.6)	(2.5)
Unrealized (losses) gains on marketable equity securities, taxes	0.6	0	(0.6)	0
Reclassification of gains on terminated cash flow hedges, taxes	$ 0	$ 0	$ 0	$ 0

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash Flow From Operating Activities:
Net Income	$ 220.7	$ 138.8
Adjustments to reconcile Net Income to net cash from operating activities-
Depreciation	94.9	87.1
Amortization of intangible assets	24	43.9
Stock-based compensation expense	29.1	28.7
Undistributed equity income from affiliates	(2.9)	(12)
Deferred income taxes and other tax adjustments	22.7	32.7
Impairments and other asset charges	1.8	7.3
Loss on disposal of assets	0	5
Changes in assets and liabilities, net of the effects of acquisitions-
Trade receivables	(1.8)	(71.9)
Inventories	(98.8)	(96.1)
Prepaid expenses and other assets	(2.8)	(22)
Trade accounts payable	(28.3)	27.1
Other liabilities	(91.2)	(2.3)
Other, net	18.8	9.2
Net Cash Provided by Operating Activities	186.2	175.5
Cash Flow From Investing Activities:
Capital expenditures (including instruments placed with or leased to customers)	(221.4)	(184.8)
Acquisitions, net of cash acquired	0	(9)
Purchases of intangibles and other investments	(20.1)	(4.3)
Proceeds from disposal of businesses and assets	0	16.9
Net Cash Used in Investing Activities	(241.5)	(181.2)
Cash Flow From Financing Activities:
Other borrowings, net	(5.4)	(77.2)
Excess tax benefit from stock-based compensation arrangements	37.6	2.6
Proceeds from stock options exercised less taxes paid related to net share settlements of $29.3 and $5.0, respectively	50	78
Net Cash Provided by Financing Activities	82.2	3.4
Effect of exchange rate changes on cash and cash equivalents	(9.4)	0.7
Net change in cash and cash equivalents	17.5	(1.6)
Cash and cash equivalents at beginning of period	802.4	798.1
Cash and cash equivalents at end of period	819.9	796.5
Cash paid during the period-
Interest	51.5	51.1
Income taxes, net of refunds	11.1	8.8
Accrued capital expenditures	$ 38.9	$ 25.7

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) Condensed Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Statement of Cash Flows [Abstract]
Taxes paid related to net share settlements	$ 29.3	$ 5

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Current Assets:
Cash and cash equivalents	$ 819.9	$ 802.4
Trade receivables, less allowances of $6.8 and $9.6, respectively	588	601.9
Inventories, net	1,222.4	1,133.3
Deferred income taxes and other	197.2	230
Prepaid expenses	73.5	69.3
Other receivables	108.7	117.3
Total Current Assets	3,009.7	2,954.2
Property and equipment, net	1,909.3	1,816.7
Intangible assets, net	116.6	123.4
Goodwill	1,073.7	1,089.1
Deferred income taxes	287.3	295.4
Investments	255	252.2
Other assets	132.2	119
Total Assets	6,783.8	6,650
Current Liabilities:
Short-term borrowings	2.8	6.8
Trade accounts payable	378	414.5
Salaries, wages and commissions	205.4	252
Other accrued liabilities	606.5	626.8
Total Current Liabilities	1,192.7	1,300.1
Long-term debt	1,748.1	1,749.2
Deferred income taxes	4.4	5.4
Post-retirement obligations and other long-term liabilities	$ 225	$ 258.7
Commitments and Contingencies
Total Shareholders' Equity	$ 3,613.6	$ 3,336.6
Total Liabilities and Shareholders' Equity	$ 6,783.8	$ 6,650

Condensed Consolidated Balance7

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Trade receivables, allowances	$ 6.8	$ 9.6

Condensed Consolidated Stateme8

Condensed Consolidated Statement of Changes in Shareholders' Equity - 6 months ended Jun. 30, 2015 - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Treasury Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Balances at Dec. 31, 2014	$ 3,336.6	$ 1.8	$ (599.8)	$ 2,044.5	$ 2,257	$ (366.9)
Balances (in shares) at Dec. 31, 2014		170.4
Increase (Decrease) in Shareholders' Equity
Net Income	220.7				220.7
Other comprehensive loss	(56.4)	$ 0	0	0	0	(56.4)
Changes in shareholders' equity related to incentive stock programs	112.7	$ 0	0	112.7	0	0
Changes in shareholders' equity related to incentive stock programs (in shares)		2.5
Balances at Jun. 30, 2015	$ 3,613.6	$ 1.8	$ (599.8)	$ 2,157.2	$ 2,477.7	$ (423.3)
Balances (in shares) at Jun. 30, 2015		172.9

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2015
Basis of Presentation and Significant Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	Basis of Presentation and Significant Accounting Policies Description of Business Hospira, Inc. is a leading provider of injectable drugs and infusion technologies, and a global leader in biosimilars all of which it develops, manufactures, markets and distributes. Through its broad, integrated portfolio, Hospira is uniquely positioned to Advance Wellness™ by improving patient and caregiver safety while reducing healthcare costs. Hospira's portfolio includes generic acute-care and oncology injectables, biosimilars, and integrated infusion therapy and Medication Management products. Hospira's broad portfolio of products is used by hospitals and alternate site providers, such as clinics, home healthcare providers and long-term care facilities. Hospira conducts operations worldwide and is managed in three reportable segments: Americas; Europe, Middle East and Africa; and Asia Pacific. See Note 25 for further information. On February 5, 2015, Hospira entered into the Merger Agreement with Pfizer and Merger Sub. Subject to the terms and conditions of the Merger Agreement, Hospira would become a wholly-owned subsidiary of Pfizer upon the consummation of the contemplated Merger. See Note 26 for further information. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission for interim reporting and, therefore, do not include all information and footnote disclosures normally included in audited financial statements prepared in conformity with GAAP. However, in the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary to present fairly the results of operations, financial position and cash flows have been made. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in Hospira's 2014 Form 10-K. The results of operations for any interim period are not necessarily indicative of the results of operations to be expected for the full year. New Accounting Standards Hospira is currently evaluating the impact of the following standards on its consolidated financial statements and related disclosures: Standard Description Effective date of the standard ASU 2014-09, Revenue from Contracts with Customers Supersedes nearly all existing revenue recognition guidance under GAAP. The core principle of the standard is to recognize revenues to depict the transfer of promised goods or services to customers in an amount that reflects the consideration that is expected to be received for those goods or services. The standard defines a five step process to achieve this core principle. In July 2015, the Financial Accounting Standards Board confirmed their decision to defer for one-year the effective date of the new revenue recognition standard. As a result of this deferral the new standard will become effective for the annual reporting period (including interim periods within those periods) beginning after December 15, 2017 and can be adopted either retrospectively to each prior reporting period presented or as a cumulative effect adjustment as of the date of adoption. Early adoption is permitted for annual reporting periods beginning after December 15, 2016. ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs Changes the presentation of debt issuance costs in financial statements where an entity presents such costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Hospira's debt issuance costs, net of amortization, as of June 30, 2015 were $12.9 million reported as Other assets. For fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015 with retrospective adoption. For more information on Hospira's accounting standards that were recently adopted, see "Part II, Item 8. Financial Statements and Supplementary Data, Note 1," in Hospira's 2014 Form 10-K . Significant Accounting Policies The following information updates the description of significant accounting policies contained in Note 1 to Hospira's consolidated financial statements included in Hospira's 2014 Form 10-K. Supplier Advances Hospira periodically makes supplier advances to achieve timely procurement of products or product components. Supplier advances are in some cases long-term, refundable under certain conditions, either interest bearing or interest free, primarily unsecured and subject to credit risk. In estimating an allowance for loss, Hospira monitors supplier credit, among other factors, and recognizes an allowance in the Condensed Consolidated Statements of Income based on the nature of the advance. Total supplier advances were $35.6 million and $50.9 million as of June 30, 2015 and December 31, 2014 , respectively. The current and long-term balances are reported in Prepaid expenses and Other assets , respectively, in the Condensed Consolidated Balance Sheets . Unapproved Products Prior to regulatory approval and launch, Hospira capitalizes costs associated with certain products. Hospira capitalizes product costs, material and conversion costs in preparation for product launches prior to regulatory approval when regulatory approval of the products is considered probable. Unapproved product inventories were $64.4 million and $52.5 million as of June 30, 2015 and December 31, 2014 , respectively, and the current and long-term portions are reported in Prepaid expenses and Other assets , respectively, in the Condensed Consolidated Balance Sheets . Unapproved product reserves were $7.1 million and $7.6 million as of June 30, 2015 and December 31, 2014 , respectively.

Business Acquisitions

Business Acquisitions	6 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
Business Acquisitions	Business Acquisitions Orchid (Penem and Penicillin Active Pharmaceutical Ingredient Business and Associated Research and Development Facility) On July 4, 2014, Hospira, through its wholly-owned subsidiary, Hospira India, acquired from Orchid its penem and penicillin API business located in Aurangabad, India, and associated research and development facility based in Chennai, India, along with the related assets and employees associated with these operations, for a purchase price of $237.1 million . A portion of the purchase price is subject to an eighteen month hold-back. The purchase price and the hold-back were both reduced by $10.1 million in the second quarter of 2015 due to the expected application of acquisition related payments against the hold-back. The remaining hold-back amount is $6.9 million . Pursuant to the terms of the purchase agreement, some or all of such remaining hold-back amount may ultimately be retained by Hospira. During the three months ended June 30, 2015 and 2014 , Hospira incurred $1.1 million and $1.9 million , respectively, of acquisition and integration-related costs, reported in Selling, general and administrative . During the six months ended June 30, 2015 and 2014 , these costs were $1.6 million and $2.8 million , respectively. Cumulative acquisition and integration-related costs as of June 30, 2015 were $41.2 million . During the second quarter of 2015, Hospira finalized the measurements of the assets acquired and liabilities assumed at their respective fair values on the acquisition date of July 4, 2014. The following table summarizes the fair value of the assets acquired and liabilities assumed: (dollars in millions) Current assets, net $ 56.8 Property and equipment 118.8 Intangible assets (product rights) 24.6 IPR&D 3.7 Goodwill 40.2 Non-current liabilities, net (7.0 ) Total allocation of purchase price $ 237.1 Intangible assets (product rights) have an estimated weighted average useful life of 9 years. IPR&D is considered an indefinite-lived intangible asset. Goodwill, primarily assigned to the Americas reportable segment, includes the expected synergies and other benefits that Hospira believes will result from the integrated operations. Goodwill is not expected to be deductible for tax purposes. Evolabis In February 2014, Hospira acquired a Brazilian-based oncology distributor, Evolabis Produtos Farmacêuticos Ltda., adding approximately 15 on-market oncology products to Hospira's portfolio in Brazil, accelerating expansion of its injectable pharmaceutical product line. The operating results of the acquisitions (Orchid and Evolabis) have been included in Hospira's results of operations since the individual acquisition dates, and pro forma results of operations for these acquisitions (Orchid and Evolabis) have not been presented as they are not material to Hospira's results of operations, either individually or in the aggregate.

Restructuring and Optimization

Restructuring and Optimization Actions	6 Months Ended
	Jun. 30, 2015
Restructuring and Related Activities [Abstract]
Restructuring and Optimization Actions	Restructuring and Optimization Actions Hospira aims to achieve a culture of continuous improvement to enhance its efficiency, effectiveness and competitiveness and improve its cost base. As part of this strategy, Hospira has taken a number of actions to reduce operating costs and/or optimize operations. The net charges related to these actions consist primarily of severance and other employee benefits, other exit costs, other asset (inventory) charges, impairments, accelerated depreciation, contract termination costs and gains or losses on disposal of assets and/or product lines. Facilities Optimization In March 2015, Hospira initiated a plan to discontinue API R&D related activities at its Boulder, Colorado manufacturing facility. For the three and six months ended June 30, 2015 , Hospira incurred $(0.2) million and $0.5 million , respectively, of employee related and other exit costs and $0.0 million and $1.8 million , respectively, of asset impairments reported in Restructuring and impairment . In January 2015, Hospira announced a plan for the closure, in the second half of 2015, of its Clayton, North Carolina manufacturing facility. The closure will include the discontinuation or transfer of the products manufactured at the site to other Hospira locations or third parties. Hospira estimates that this activity will result in total charges of approximately $45 million , including an impairment charge in the Americas segment of $21.9 million reported in Restructuring and impairment for the year ended December 31, 2014 , and charges expected to be recognized through 2015 that are estimated to include: (i) approximately $15 million of cash for employee-related costs, including costs for severance, retention, and other employee related assistance and other exit costs associated with the plan; and (ii) approximately $8 million in other non-cash costs, including accelerated depreciation of plant assets. The cash related charges do not include capital expenditures or product transfer costs related to establishing manufacturing operations in any other locations or offset from any potential proceeds from the sale of the existing facility and related assets. For the three and six months ended June 30, 2015 , Hospira incurred charges of $2.9 million and $13.3 million , respectively, reported in Restructuring and impairment. Restructuring Starting in late 2012 and continuing through 2015 , Hospira incurred costs to optimize commercial organizational structures, and related functions, in all segments. As Hospira continues to optimize its global commercial operations and related functions and align investments to support future growth, Hospira anticipates that similar restructuring actions may continue through 2015. The costs are reported in Restructuring and impairment and primarily include aggregate severance charges of $16.4 million and contract termination charges of $2.3 million . Of the aggregate costs, $0.5 million and $1.6 million were incurred in the three months ended June 30, 2015 and 2014 , respectively, and $1.1 million and $1.9 million were incurred in the six months ended June 30, 2015 and 2014 , respectively. The following summarizes the aggregate facility optimization and restructuring activity including Device Strategy related restructuring charges, see Note 4, for the six months ended June 30, 2015 : (dollars in millions) Employee-Related Benefit Costs Impairment and Accelerated Depreciation Charges Other Total Balance at January 1, 2015 $ 2.8 $ — $ 0.5 $ 3.3 Costs incurred 22.1 7.2 1.5 30.8 Payments (5.9 ) — (0.2 ) (6.1 ) Non-cash items — (7.2 ) — (7.2 ) Balance at June 30, 2015 $ 19.0 $ — $ 1.8 $ 20.8

Device Strategy

Device Strategy	6 Months Ended
	Jun. 30, 2015
Device Strategy [Abstract]
Device Strategy	Device Strategy Hospira continues to execute its Device Strategy announced in May 2013, an initiative intended to establish a streamlined and modernized product portfolio addressing customer needs and positioning Hospira for future innovation and growth, while supporting continued advancement of device remediation, including device quality improvement efforts. In connection with the Device Strategy, that now includes the restructuring initiative described below, Hospira has and expects to incur charges related to these actions. Hospira has and expects major cash costs to include the following: (i) customer sales allowances; (ii) customer accommodations, contract termination, and pump collection and destruction costs; (iii) pump retirement and replacement program administration, quality systems/process improvement, consulting costs and other costs; and (iv) severance and other employee related assistance and contract termination charges. Further, Hospira has and expects to incur non-cash charges for various asset charges, primarily pump inventory charges, other pump-related asset impairments and accelerated depreciation on production equipment and Hospira-owned pumps in service. In January 2015, Hospira approved and initiated plans to streamline and optimize device manufacturing, research and development and service center activities in all segments, and the charges will be included as part of Device Strategy charges. The Device Strategy is expected to be predominantly completed by the end of 2015. Charges incurred for the Device Strategy, primarily in the Americas segment, were reported as follows: Three Months Ended June 30, Six Months Ended June 30, Line Item in the (dollars in millions) 2015 2014 2015 2014 Consulting, customer accommodations, contract termination, collection and destruction and other (releases) charges $ (14.0 ) $ 4.1 $ (22.2 ) $ 9.7 Cost of products sold Inventory (releases) charges (0.5 ) 2.0 (0.8 ) 2.3 Cost of products sold Severance and other related (releases) costs (2.6 ) — 15.0 — Restructuring and impairment Other asset impairments and accelerated depreciation (0.9 ) 0.9 (0.9 ) 1.3 Restructuring and impairment Total (releases) charges $ (18.0 ) $ 7.0 $ (8.9 ) $ 13.3 The amount, timing and recognition of additional charges or releases associated with the Device Strategy will be affected by the nature of spending and the occurrence of commitments and triggering events, among other factors including updated estimates to previously recorded accruals based on changes in various assumptions such as lower customer allowances and destruction costs per pump. See Note 3 and Note 16 for certain Device Strategy related and other accrual activity for the six months ended June 30, 2015 .

Collaborative and Other Arrange

Collaborative and Other Arrangements	6 Months Ended
	Jun. 30, 2015
Collaborative Arrangements [Abstract]
Collaborative and Other Arrangements	Collaborative and Other Arrangements On February 10, 2015, Hospira entered into a global collaboration agreement with Pfenex to develop and commercialize PF582, Pfenex’s biosimilar candidate for ranibizumab. Under the agreement, Hospira will be responsible for Phase III studies, manufacturing, regulatory approval, litigation, sales and marketing. Pfenex is responsible for completing Phase I and additional product characterization work. In March 2015, Hospira paid $51.0 million as an upfront milestone to Pfenex at the close of the agreement, which is reported in Research and development expense for the six months ended June 30, 2015 . Pfenex will be eligible to receive a combination of development milestone payments of approximately $31 million and sales-based milestone payments up to approximately $260 million , including tiered double-digit royalties on net sales of the product over the next five years and beyond under certain circumstances. Pfenex is obligated to contribute up to $20 million to fund a portion of the Phase III equivalence clinical trial costs. In December 2014, Hospira entered into a new agreement with Q Core. Under the agreement, Hospira will (i) license the rights to manufacture sets compatible with the Sapphire™ and SapphirePlus™ infusion pumps, (ii) provide milestone payments, some of which may be refundable, for new infusion pump products developed by Q Core in advance of or upon achievement of CE mark or FDA clearance and (iii) make advances to Q Core for the prepayment of inventory for new products. Under the agreement, Hospira will pay Q Core up to approximately $55 million primarily over the next two years or as milestones are achieved of which $6.1 million and $23.9 million was paid and capitalized based on the nature of the assets in the three and six months ended June 30, 2015 , respectively. Under the arrangement, new pump products are intended to be added to the portfolio that build upon the Sapphire™ platform and utilize Hospira MedNet™ safety software. The agreement includes the right for Hospira to acquire Q Core under certain conditions in the future, and the right to establish back-up manufacturing of Q Core pump products. On April 29, 2013, Hospira and NovaQuest entered into an arrangement for three biosimilar products: EPO (in the U.S. and Canada), filgrastim (in the U.S.) and pegylated filgrastim (globally). Hospira is responsible for research and development, regulatory approval, commercialization and distribution of these products. NovaQuest will contribute development funding up to $120.0 million , with contributions not exceeding $50.0 million in any single year and such amounts are recognized as an offset to Research and development expense as incurred as there is substantive and genuine risk of return of the investment inherent in these biosimilar development programs. In exchange for the development funding, if applicable, Hospira will make milestone payments to NovaQuest upon achieving the first commercial sale for each product of approximately $20 million , and such payments will be expensed to Cost of products sold as incurred. Hospira will also be required to pay NovaQuest royalties based upon commercial net sales of the products. In certain instances that result in the delay or failure of the products to be marketed (other than the failure of the products to achieve regulatory approval), Hospira may be obligated to make certain payments to NovaQuest as compensation for such unanticipated events. In these circumstances, reimbursement will be made in the form of royalties related to certain sales of Hospira's on-market products. Hospira's total payments to NovaQuest inclusive of the milestones and royalties are capped at a multiple of development funding, which in any reported period could be significant. For the three and six months ended June 30, 2015 , in connection with the NovaQuest agreement, Hospira recognized an offset to Research and development expense for development funding of $3.0 million and $5.9 million , respectively. For the three and six months ended June 30, 2014, the offset recognized to Research and development expense was $11.8 million and $18.7 million , respectively. Cumulative development funding recognized as an offset to Research and development expense from NovaQuest through the period ended June 30, 2015 was $93.9 million . For information on other Hospira collaborative and other arrangements, see "Part II, Item 8. Financial Statements and Supplementary Data, Note 1," in Hospira's 2014 Form 10-K .

Investments

Investments	6 Months Ended
	Jun. 30, 2015
Investments [Abstract]
Investments	Investments Investments, equity-method Hospira's equity-method investments primarily consist of a 50% ownership interest in a joint venture, ZHOPL with Cadila. Equity income from affiliates, net, including the ZHOPL equity investment, was $1.3 million and $8.7 million for the three months ended June 30, 2015 and 2014 . Equity income from affiliates, net, including the ZHOPL equity investment, was $2.9 million and $12.0 million for the six months ended June 30, 2015 and 2014 , respectively. No distributions were received from ZHOPL for the six months ended June 30, 2015 and 2014 . Combined income statement financial information of unconsolidated equity method investments is as follows: Six Months Ended June 30, (dollars in millions) 2015 2014 Revenue $ 36.7 $ 29.7 Operating expenses 27.3 18.6 Operating income 9.4 11.1 Net Income 7.0 17.4 Investments, at fair value As of June 30, 2015 and December 31, 2014, Investments, at fair value (available-for-sale marketable investments) included $3.5 million and $4.2 million of unrealized losses, respectively, which are included in Accumulated other comprehensive loss. On September 30, 2014, Hospira purchased a convertible bond from Celltrion Healthcare with an aggregate principal amount denominated in Korean Won equal to $200.0 million U.S. Dollars, due on September 30, 2019. Interest is payable quarterly at an annual rate of 6.0% . The convertible bond is recognized as an available-for-sale investment and is subject to credit risk. Hospira may redeem some or all of the principal of the convertible bond for cash or an equity interest in Celltrion Healthcare, or, starting on the third anniversary of the issuance of the convertible bond, the supply of biosimilar products. Additionally, Celltrion Healthcare may elect to pay interest on the convertible bond in cash, or in kind by providing biosimilar product to Hospira. Further, Hospira amended its co-exclusive agreement with Celltrion to amend commercial terms, which includes providing Hospira exclusive rights to specific biosimilar products in the U.S. and certain other territories. Investments, at cost Hospira advanced $30.0 million in July 2014 and agreed to advance an additional $15.0 million in July 2015 as investments in a research and development venture. In the initial phase of the agreement, the investment is fully refundable, subject to credit risk, to the extent certain development milestones are not met. The products developed are expected to provide Hospira commercialization opportunities in future periods.

Fair Value Measures

Fair Value Measures	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measures	Fair Value Measures The following table summarizes the basis used to measure certain assets and liabilities at fair value on a recurring basis in the Condensed Consolidated Balance Sheets : Fair Value Measurements at Reporting Date, Using: June 30, Quoted Prices Significant Significant Unobservable Inputs (dollars in millions) 2015 (Level 1) (Level 2) (Level 3) Financial Assets: Foreign currency exchange contracts $ 0.9 $ 0.9 $ — $ — Investments 195.4 2.8 192.6 — Interest rate swap contracts 1.1 — 1.1 — Financial Liabilities: Foreign currency exchange contracts 0.3 — 0.3 — Fair Value Measurements at Reporting Date, Using: December 31, Quoted Prices Significant Significant Unobservable Inputs (dollars in millions) 2014 (Level 1) (Level 2) (Level 3) Financial Assets: Foreign currency exchange contracts $ 3.0 $ 3.0 $ — $ — Investments 194.6 3.7 190.9 — Interest rate swap contracts 0.1 — 0.1 — Financial Liabilities: Foreign currency exchange contracts 0.6 — 0.6 — The fair value of the Level 1 assets is based on quoted market prices of the identical underlying security in an active market. The fair value of cash and cash equivalents, which include money market fund instruments, approximate their carrying value due to their short-term nature, and are within Level 1 of the fair value hierarchy. The fair value of the Level 2 assets and liabilities is primarily based on market observable inputs to quoted market prices, benchmark yields and broker/dealer quotes. Specific to the investment in Celltrion Healthcare, the inputs primarily used include South Korean benchmark interest rates adjusted for credit risk and foreign exchange rates. Level 3 inputs, as applicable, are unobservable inputs that reflect assumptions developed by management to measure assets and liabilities at fair value. The carrying values of certain financial instruments, primarily including accounts receivable, accounts payable and short-term borrowings, approximate their estimated fair values due to their short-term nature. The carrying value and estimated aggregate fair value, based primarily on market prices (Level 1), of the senior unsecured notes are as follows: June 30, 2015 December 31, 2014 (dollars in millions) Carrying Value Fair Value Carrying Value Fair Value Senior unsecured notes $ 1,750.0 $ 1,960.6 $ 1,750.0 $ 1,924.0

Financial Instruments and Deriv

Financial Instruments and Derivatives	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Instruments and Derivatives	Financial Instruments and Derivatives Hospira's operations are exposed to market risk primarily due to changes in currency exchange and interest rates. The objective in managing these risks is to reduce volatility on earnings and cash flows. To reduce the risk, Hospira enters into certain derivative financial instruments, when available on a cost-effective basis, to hedge its underlying economic exposure. For a more detailed description of Hospira's financial instruments and derivatives, see Note 8 to Hospira's consolidated financial statements included in Hospira's 2014 Form 10-K. In July 2015, Hospira terminated interest rate swap contracts originally entered into in December 2014 with a total notional amount of $350.0 million , which had effectively converted the interest rate on the $350.0 million principal amount of 5.20% note due in August 2020 from a fixed rate to a floating rate. At termination, these swaps were in a gain position of $2.7 million which will be recorded in earnings as a reduction of interest expense over the remaining life of the underlying debt. The cash proceeds from the termination of the swaps totaled $5.0 million in cash, including accrued interest. The following table summarizes Hospira's fair value of outstanding derivatives: Condensed Consolidated Balance Sheet Presentation June 30, December 31, (dollars in millions) 2015 2014 Derivatives not designated as hedging instruments Foreign currency exchange contracts: Other receivables $ 0.9 $ 3.0 Other accrued liabilities 0.3 0.6 Derivatives designated as hedging instruments Interest rate swap contracts: Other receivables 1.1 0.1 The impact on earnings from derivatives activity was as follows: Line Item in the Three Months Ended June 30, Six Months Ended June 30, (dollars in millions) 2015 2014 2015 2014 Derivatives not designated as hedging instruments Foreign currency exchange contracts Other income, net $ 3.7 $ 1.5 $ (1.3 ) $ 0.8 Derivatives designated as hedging instruments Interest rate swap contracts Interest income (1.3 ) — (2.7 ) —

Inventories, net

Inventories, net	6 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Inventories, net	Inventories, Net Inventories, net consist of the following: June 30, December 31, (dollars in millions) 2015 2014 Finished products $ 562.2 $ 521.7 Work in process 374.2 324.7 Materials 286.0 286.9 Total $ 1,222.4 $ 1,133.3 Inventory reserves were $ 104.8 million and $136.4 million as of June 30, 2015 and December 31, 2014 , respectively.

Property and equipment, net

Property and equipment, net	6 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
Property and equipment, net	Property and Equipment, Net Property and equipment, net consists of the following: June 30, December 31, (dollars in millions) 2015 2014 Property and equipment, at cost $ 3,755.3 $ 3,607.2 Accumulated depreciation (1,846.0 ) (1,790.5 ) Total Property and equipment, net $ 1,909.3 $ 1,816.7

Goodwill and Intangible assets,

Goodwill and Intangible assets, net	6 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible assets, net	Goodwill and Intangible Assets, Net The following summarizes Goodwill and Intangible assets, net activity: (dollars in millions) Goodwill Intangible assets, net Balance at January 1, 2015 $ 1,089.1 $ 123.4 Additions or adjustments (10.5 ) 19.1 Amortization — (24.0 ) Currency translation effect (4.9 ) (1.9 ) Balance at June 30, 2015 $ 1,073.7 $ 116.6 Adjustments to Goodwill are primarily related to the Orchid agreement, as discussed in Note 2, and included in the Americas reportable segment. Additions to Intangible assets, net are primarily related to the agreement with Q Core, as discussed in Note 5, and included in the Americas reportable segment. Intangible assets with definite lives are amortized on a straight-line basis over their estimated useful lives ( 1 to 12 years, weighted average 9 years). Indefinite lived intangibles, principally IPR&D, are not amortized until completion and regulatory approval. During the three months ended June 30, 2015 and 2014 , intangible asset amortization expense was $ 12.1 million and $22.1 million , respectively, and reported in Cost of products sold . During the six months ended June 30, 2015 and 2014 , intangible asset amortization expense was $24.0 million and $43.9 million , respectively, and reported in Cost of products sold . Intangible assets, net consist of the following: Gross Carrying Amount Accumulated Amortization Intangible assets, net June 30, December 31, June 30, December 31, June 30, December 31, (dollars in millions) 2015 2014 2015 2014 2015 2014 Product rights and other $ 550.0 $ 554.3 $ (456.9 ) $ (457.8 ) $ 93.1 $ 96.5 Customer relationships 7.3 7.4 (6.8 ) (6.4 ) 0.5 1.0 IPR&D 4.9 4.9 — — 4.9 4.9 Technology 39.0 39.0 (20.9 ) (18.0 ) 18.1 21.0 Total $ 601.2 $ 605.6 $ (484.6 ) $ (482.2 ) $ 116.6 $ 123.4 Intangible asset amortization for each of the five succeeding fiscal years is estimated at: Year (dollars in millions) 2015 $ 43.9 2016 24.2 2017 17.4 2018 8.0 2019 5.2

Other Assets

Other Assets	6 Months Ended
	Jun. 30, 2015
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other assets	Other Assets Other assets consist of the following: June 30, December 31, (dollars in millions) 2015 2014 Supplier advances $ 30.9 $ 25.5 Net investment in sales-type leases, less current portion 2.6 6.5 Unapproved products 43.2 36.0 Non-current receivables 9.5 9.2 All other 46.0 41.8 Total $ 132.2 $ 119.0

Sales-Type Leases

Sales-Type Leases	6 Months Ended
	Jun. 30, 2015
Leases [Abstract]
Sales-Type Leases	Sales-Type Leases The net investment in sales-type leases of certain medication management products consists of the following: June 30, December 31, (dollars in millions) 2015 2014 Minimum lease payments receivables $ 8.4 $ 13.7 Unearned interest income (0.5 ) (1.1 ) Net investment in sales-type leases 7.9 12.6 Current portion (1) (5.3 ) (6.1 ) Net investment in sales-type leases, less current portion (1) $ 2.6 $ 6.5 (1) The current and long-term portions are reported in Trade receivables and Other assets , respectively. Hospira monitors the credit quality of sales-type leases and recognizes an allowance for credit loss based on historical loss experience. As of June 30, 2015 and December 31, 2014 , allowance for credit losses and amounts past due 90 days for sales-type leases were not material.

Other Accrued Liabilities

Other Accrued Liabilities	6 Months Ended
	Jun. 30, 2015
Payables and Accruals [Abstract]
Other Accrued Liabilities	Other Accrued Liabilities Other accrued liabilities consist of the following: June 30, December 31, (dollars in millions) 2015 2014 Accrued rebates $ 122.0 $ 135.5 Income taxes payable 45.9 3.5 Product recalls, customer sales allowances, customer accommodations and other related accruals 95.6 127.5 Accrued returns 27.6 29.1 All other 315.4 331.2 Total $ 606.5 $ 626.8

Post-Retirement Obligations and

Post-Retirement Obligations and Other Long-term Liabilities	6 Months Ended
	Jun. 30, 2015
Post-Retirement Obligations and Other Long-term Liabilities [Abstract]
Post-Retirement Obligations and Other Long-term Liabilities	Post-Retirement Obligations and Other Long-term Liabilities Post-retirement obligations and other long-term liabilities consist of the following: June 30, December 31, (dollars in millions) 2015 2014 Accrued post-retirement medical and dental costs $ 54.7 $ 55.2 Pension liabilities 87.9 91.9 Unrecognized tax benefits, including penalties and interest 34.9 33.9 Product recalls, customer sales allowances, customer accommodations and other related accruals 3.3 31.3 Accrued returns 13.3 12.7 All other 30.9 33.7 Total $ 225.0 $ 258.7

Product Recalls, Customer Sales

Product Recalls, Customer Sales Allowances, Customer Accommodations and Other Related Accruals	6 Months Ended
	Jun. 30, 2015
Payables and Accruals [Abstract]
Product Recalls and Other Related Accruals	Product Recalls, Customer Sales Allowances, Customer Accommodations and Other Related Accruals The following summarizes Product recalls, customer sales allowances, customer accommodations and other related accruals activity (including certain Device Strategy related releases as discussed in Note 4) for the six months ended June 30, 2015 : (dollars in millions) Product recalls, customer sales allowances, customer accommodations and other related accruals Balances at January 1, 2015 $ 158.8 Provisions net of releases of prior provisions (30.5 ) Payments (29.4 ) Balances at June 30, 2015 $ 98.9

Pension and Post-Retirement Ben

Pension and Post-Retirement Benefits	6 Months Ended
	Jun. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Pension and Post-Retirement Benefits	Pension and Other Post-Retirement Benefits Retirement plans consist of defined benefit plans and legislated obligations such as pension plans, medical and dental plans and defined contribution plans. Plans cover certain employees both in and outside of the U.S. Net periodic benefit cost recognized for Hospira's pension and post-retirement medical and dental benefit plans consist of the following: Pension Plans Three Months Ended June 30, Six Months Ended June 30, (dollars in millions) 2015 2014 2015 2014 Service cost for benefits earned during the period $ 0.6 $ 0.4 $ 1.2 $ 0.8 Interest cost on projected benefit obligations 6.1 6.5 12.2 13.0 Expected return on plans' assets (7.5 ) (7.8 ) (15.0 ) (15.6 ) Amortization of net actuarial losses 4.7 3.1 9.4 6.2 Net periodic benefit cost $ 3.9 $ 2.2 $ 7.8 $ 4.4 Medical and Dental Plans Three Months Ended June 30, Six Months Ended June 30, (dollars in millions) 2015 2014 2015 2014 Service cost for benefits earned during the period $ 0.1 $ — $ 0.1 $ 0.1 Interest cost on projected benefit obligations 0.5 0.6 1.1 1.2 Amortization of net actuarial losses 0.2 0.1 0.4 0.2 Net periodic benefit cost $ 0.8 $ 0.7 $ 1.6 $ 1.5 Hospira has no estimated minimum required contribution for 2015 to meet the funding rules of the Pension Protection Act of 2006, giving consideration to the Worker, Retiree, and Employer Recovery Act of 2008. While Hospira's funding policy requires contributions to its defined benefit plans equal to the amounts necessary to, at a minimum, satisfy the funding requirements as prescribed by Federal laws and regulations, Hospira also makes discretionary contributions when management deems it is prudent to do so. No contributions were made to the U.S. pension plan for the six months ended June 30, 2015 . Certain Hospira employees in the U.S. and Puerto Rico participate in the Hospira 401(k) Retirement Savings Plan. Hospira's expenses for this defined contribution plan for the three months ended June 30, 2015 and 2014 were $11.3 million and $9.9 million , respectively. For the six months ended June 30, 2015 and 2014 , Hospira's expenses were $22.4 million and $21.5 million , respectively.

Short-term Borrowings and Long-

Short-term Borrowings and Long-term Debt	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Short-term Borrowings and Long-term Debt	Short-term Borrowings and Long-term Debt As of June 30, 2015 , Hospira had a $1.0 billion unsecured revolving credit facility maturing in October 2016 with no amounts outstanding. Amounts borrowed under the Revolver, if any, and Hospira's debt and financial position may limit Hospira's availability for borrowings to less than $1.0 billion . As of June 30, 2015 , Hospira had no limit on the availability under the Revolver. As of June 30, 2015 , Hospira was in compliance with all financial covenants. For more information on Hospira's Senior Notes and other borrowings, interest rate swap contracts and the Revolver, see "Part II, Item 8. Financial Statements and Supplementary Data, Note 19," in Hospira's 2014 Form 10-K as well as Note 8 herein. There have been no material changes to the short-term borrowing or other debt arrangement information provided in Hospira's 2014 Form 10-K.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Taxes on income reflect the estimated annual effective rates, excluding the effect of significant unusual items. The effective tax rates are generally less than the statutory U.S. federal income tax rate principally due to the benefit of tax exemptions, of varying durations, in certain non-U.S. taxing jurisdictions. Hospira remains subject to tax examinations, which are in various stages, in the following major tax-paying jurisdictions: for years 2006 forward in Italy, for years 2007 forward in Australia, for years 2009 forward in Canada, for years 2010 forward in the U.S. and for years 2011 forward in the United Kingdom. Hospira estimates that within the next twelve months a decrease of up to approximately $10 million in the balance of unrecognized tax benefits could occur as a result of audit settlements or statute of limitations expirations.

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 2015
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders' Equity Common Stock Hospira is authorized to issue 400.0 million shares of common stock, par value $0.01 per share, and 50.0 million shares of preferred stock, par value $0.01 per share. At June 30, 2015 and December 31, 2014 , 186.1 million and 183.6 million common shares were issued, respectively, and 172.9 million and 170.4 million common shares were outstanding, respectively. The Merger Agreement with Pfizer imposes certain restrictions on issuance of Hospira's common stock during the pendency of the Merger. See Note 26 for more information on the Merger Agreement with Pfizer. Treasury Stock In April 2011, Hospira's Board of Directors authorized the repurchase of up to $1.0 billion of Hospira's common stock, of which $800 million remains authorized taking into account prior repurchases. Hospira may periodically repurchase additional shares under this authorization, the timing of which will depend on various factors such as cash generation from operations, cash expenditure required for other purposes, current stock price and other factors. No common stock repurchases were made during the six months ended June 30, 2015 . The Merger Agreement with Pfizer imposes certain restrictions on repurchases of Hospira's common stock during the pendency of the Merger. See Note 26 for more information on the Merger Agreement with Pfizer. Dividends The Merger Agreement with Pfizer imposes certain restrictions upon Hospira's ability to pay dividends during the pendency of the Merger. See Note 26 for more information on the Merger Agreement with Pfizer.

Accumulated Other Comprehensive

Accumulated Other Comprehensive (Loss), net of tax	6 Months Ended
	Jun. 30, 2015
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Accumulated Other Comprehensive Loss, net of tax	Accumulated Other Comprehensive Loss , Net of Tax Changes in Accumulated Other Comprehensive Loss , net of taxes consists of the following: (dollars in millions) Cumulative Foreign Currency Translation Adjustments (1) Cumulative Retirement Plans Unrealized Losses (2) Cumulative Unrealized Losses on Investments (3) Cumulative Losses on Terminated Cash Flow Hedges (4) Total Accumulated Other Comprehensive Loss Balance at January 1, 2015 $ (228.8 ) $ (132.3 ) $ (4.2 ) $ (1.6 ) $ (366.9 ) Other comprehensive (loss) income before reclassifications (63.4 ) — 0.7 — (62.7 ) Amounts Reclassified from — 6.2 — 0.1 6.3 Balance at June 30, 2015 $ (292.2 ) $ (126.1 ) $ (3.5 ) $ (1.5 ) $ (423.3 ) (1) Net of taxes of $0.0 million as of June 30, 2015 and December 31, 2014 . (2) Net of taxes of $74.3 million and $77.9 million as of June 30, 2015 and December 31, 2014 , respectively. (3) Net of taxes of $2.8 million and $3.4 million as of June 30, 2015 and December 31, 2014 , respectively. (4) Net of taxes of $1.1 million as of June 30, 2015 and December 31, 2014 . The following summarizes reclassifications out of Accumulated Other Comprehensive Loss : Three Months Ended June 30, Six Months Ended June 30, (dollars in millions) 2015 2014 2015 2014 Line Item in the Amortization of loss on terminated cash flow hedges $ — $ 0.1 $ 0.1 $ 0.1 Other income, net — — — — Income tax expense Net of income taxes — 0.1 0.1 0.1 Amortization of pension plans actuarial losses 4.7 3.1 9.4 6.2 (1) Amortization of medical and dental plans actuarial losses 0.2 0.1 0.4 0.2 (1) Total amortization before income taxes 4.9 3.2 9.8 6.4 (2.6 ) (1.0 ) (3.6 ) (2.5 ) Income tax expense Net of income taxes 2.3 2.2 6.2 3.9 Total reclassifications for the period $ 2.3 $ 2.3 $ 6.3 $ 4.0 (1) These Accumulated Other Comprehensive Loss components are included in the computation of net periodic benefit cost. See Note 17 for additional details.

Earnings per Share

Earnings per Share	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Earnings per Share	Earnings Per Share Basic Earnings Per Share is computed by dividing Net Income by the number of weighted average common shares outstanding during the reporting period. Diluted Earnings Per Share is calculated to give effect to all potentially dilutive common shares that were outstanding during the reporting period, only in the periods in which such effect is dilutive. The following table shows the effect of stock-based awards on the weighted average number of shares outstanding used in calculating Diluted Earnings Per Share , and the number of shares excluded from the Diluted Earnings Per Share calculation as the exercise price of the awards exceeded the average stock price: Three Months Ended June 30, Six Months Ended June 30, (shares in millions) 2015 2014 2015 2014 Weighted average basic common shares outstanding 172.8 167.7 172.1 167.1 Incremental shares outstanding related to stock-based awards 3.3 2.3 3.5 2.7 Weighted average dilutive common shares outstanding 176.1 170.0 175.6 169.8 Outstanding awards for which the exercise price of the award exceeds the average stock price — 3.9 — 4.0

Incentive Stock Program

Incentive Stock Program	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Incentive Stock Program	Incentive Stock Program Hospira's 2004 Long-Term Stock Incentive Plan ("2004 Plan"), as amended, provides for the grant of shares of stock options, stock appreciation rights, stock awards (restricted stock, restricted stock units, performance shares and performance units) and cash-based awards to employees and non-employee directors. Stock-based compensation expense associated with Hospira's 2004 Plan consists of the following: Three Months Ended June 30, Six Months Ended June 30, (dollars in millions) 2015 2014 2015 2014 Stock-based compensation expense $ 15.0 $ 17.7 $ 29.1 $ 28.7 Income tax benefit recognized 5.4 6.5 10.5 10.5 As of June 30, 2015 , there was $105.9 million of total unrecognized compensation cost related to non-vested share-based compensation arrangements. That cost is expected to be recognized over a weighted average period of 1.6 years. Stock Options No options were granted in the six months ended June 30, 2015 . For prior grants, the weighted average grant date fair value using the Black-Scholes option-pricing model, and the corresponding weighted average assumptions were as follows: Three Months Ended June 30, Six Months Ended June 30, 2014 2014 Expected volatility 27.7 % 27.7 % Expected life (years) 4.7 4.7 Risk-free interest rate 1.5 % 1.5 % Expected dividend yield 0.0 % 0.0 % Fair value per stock option $ 13.47 $ 11.29 Performance Share Awards No performance share awards were granted in the six months ended June 30, 2015 . For prior grants, the weighted average grant date fair value using the Monte Carlo simulation model and the corresponding weighted average assumptions were as follows: Six Months Ended June 30, 2014 Expected volatility 30.8 % Risk-free interest rate 0.6 % Expected dividend yield 0.0 % Fair value per performance share $ 54.55 Restricted Stock and Units During the six months ended June 30, 2015 , 0.8 million restricted stock and units were granted to certain employees and non-employee directors primarily as part of the 2015 annual grant. Hospira issues restricted stock and units that generally vest in approximately equal amounts on the first , second and third anniversaries of the grant date. The weighted average grant date fair value of restricted stock and units granted for the six months ended June 30, 2015 and 2014 was $87.51 and $42.96 per restricted award, respectively.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Loss Contingency, Information about Litigation Matters [Abstract]
Commitments and Contingencies	Commitments and Contingencies Hospira is involved in various claims and legal proceedings, as well as product liability claims, regulatory matters and proceedings related to Hospira's business, including in some instances when Hospira operated as part of Abbott Laboratories. Precedex™ Matters Hospira is currently involved in two lawsuits relating to the ability of Eurohealth International Sarl and West-Ward Pharmaceutical Corp. (collectively "Eurohealth") to market generic forms of Hospira's Precedex™ (dexmedetomidine hydrochloride), a proprietary sedation agent. The two cases, No. 14-cv-00487 (filed April 18, 2014) and No. 14-cv-01008 (filed August 1, 2014), are both pending in U.S. District Court for the District of Delaware and are based on Eurohealth's ANDAs filed with the FDA for generic versions of Precedex™, one of which is a premix product. Hospira seeks a judgment of infringement based on the claims of U.S. Patent No. 6,716,867, injunctive relief and costs. Eurohealth International Sarl purchased the assets of Ben Venue Laboratories, Inc. d/b/a Bedford Laboratories. West-Ward Pharmaceutical Corp. is Eurohealth's agent in the U.S. On August 18, 2014, the FDA allowed a carved-out label for generic competitors of Precedex™. Immediately following that decision, Mylan Institutional, LLC and Par Sterile Products, LLC launched generic versions of Precedex™ concentrate. On August 19, 2014, Hospira initiated litigation over the FDA's action, which was settled on October 28, 2014. In addition to the previously reported settlements, Hospira entered during the second quarter of 2015 into confidential settlement agreements regarding Precedex™ patent-related litigation with Sun Pharmaceutical Industries, Inc. and Gland Pharma Ltd., in April 2015, Akorn, Inc., in May 2015, and Actavis US Holding LLC and Actavis LLC, in May 2015. Hospira also has received a "Paragraph IV" notice from Amneal Pharmaceuticals related to patents associated with Hospira's premix Precedex™ product. Hospira has 45 days from the date the notice was received to initiate a lawsuit alleging infringement of the various patents included in the notice. Such a lawsuit would result in a 30 month stay of approval from the FDA of Amneal's proposed generic product. Stockholder Litigation Hospira and members of its Board of Directors are named as defendants in five class action lawsuits filed in the Delaware Court of Chancery alleging breaches of fiduciary duty in connection with the Merger Agreement. Pfizer and Merger Sub are also named as defendants. The lawsuits, which seek to enjoin the proposed transaction, allege generally that the Merger Agreement resulted from an unfair process and fails to maximize value for Hospira stockholders. The lawsuits were filed by the following named plaintiffs, on behalf of themselves and all others similarly situated: Robert J. Casey II, Samuel Montini, Charles Zimmerman, Jason Chen and Patricia Takach. Regulatory Matters Hospira's businesses are subject to regulatory inspections by regulatory authorities across the globe. Such regulatory inspections may lead to observations (commonly referred to as Form 483 observations in the U.S.), untitled letters, warning letters or similar correspondence, voluntary or involuntary product recalls, consent decrees, injunctions to halt manufacture and distribution of products, seizures of violative products, import and export bans or restrictions, monetary sanctions, delays in product approvals or clearances, civil penalties, criminal prosecution and other restrictions on operations. Hospira has received warning letters from the FDA related to matters affecting its pharmaceutical manufacturing facility in Mulgrave, Victoria, Australia, pharmaceutical and device manufacturing facilities in Clayton and Rocky Mount, North Carolina, its device manufacturing facility in La Aurora de Heredia, Costa Rica, its pharmaceutical manufacturing facility in Irungattukottai, India, its device quality systems and governance in Lake Forest, Illinois and its pharmaceutical manufacturing facility in Liscate, Italy. The Company has responded fully, and in a timely manner, to these warning letters. By letter dated April 16, 2015, the FDA advised Hospira that it had completed its evaluation of the Company's corrective actions in response to the April 2010 warning letter relating to Hospira's Rocky Mount and Clayton, North Carolina, pharmaceutical manufacturing facilities. The remediation plans in response to the warning letters involve commitments by Hospira to enhance its quality system, products, facilities, employee training, quality processes and procedures, and technology. While Hospira continues implementing its remediation plans, the plans are subject to update and revision based on issues encountered during the remediation process, or on further interaction with the FDA or other regulatory bodies. Hospira cannot, however, give any assurances as to the expected date of resolution of the matters identified in the warning letters. Environmental Matters India’s National Green Tribunal ("NGT") and the Maharashtra Pollution Control Board ("MPCB") are actively reviewing various industrial facilities in the vicinity of Aurangabad, India, to determine whether those facilities have contributed to alleged groundwater and soil contamination in the area. On July 15, 2015, the NGT issued an order directing Hospira India, as the owner of a manufacturing facility in Aurangabad, and the unrelated owners of other facilities, to deposit in escrow an amount up to approximately $2.0 million each. A deposit by a company would be applied to any required costs of remediation if that company is determined to have responsibility for the alleged contamination. Subsequent to the NGT order, MPCB ordered the immediate closure of Hospira India’s Aurangabad facility; however, based on Hospira India’s application, the NGT stayed the closure order until at least August 24, 2015, when a further hearing is scheduled. The NGT also reduced the escrow deposit for Hospira India to approximately $0.9 million . Hospira continues to evaluate its response with local counsel, local environmental consultants and local governmental consultants. A prolonged closure of the Aurangabad facility would affect production at that facility, as well as production at Hospira India’s Irungattukottai, India facility, and could have a material adverse effect on Hospira’s results of operations. Litigation Exposure Evaluation Hospira's litigation exposure, including product liability claims, is evaluated each reporting period. Hospira's accruals, which are not significant at June 30, 2015 and December 31, 2014 , are the best estimate of loss. Based upon information that is currently available, management believes that the likelihood of a material loss in excess of recognized amounts is remote. Additional legal proceedings may occur that may result in a change in the estimated accruals recognized by Hospira. It is not feasible to predict the outcome of such proceedings with certainty and there can be no assurance that their ultimate disposition will not have a material adverse effect on Hospira's financial position, cash flows or results of operations.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2015
Segment Reporting, Disclosure of Other Information about Entity's Reportable Segments [Abstract]
Segment Information	Segment Information Hospira conducts operations worldwide and is managed in three reportable segments: Americas, EMEA and APAC. The Americas reportable segment includes three operating segments, the U.S., Canada and Latin America; the EMEA reportable segment includes one operating segment, Europe, the Middle East and Africa; and the APAC reportable segment includes two operating segments, Asia and Japan and Australia and New Zealand. In all segments, Hospira sells a broad line of products, including Specialty Injectable Pharmaceuticals, Medication Management and Other Pharmaceuticals. Specialty Injectable Pharmaceuticals include generic injectables, proprietary specialty injectables and, in certain markets, biosimilars. Medication Management includes infusion pumps, related software and services, dedicated administration sets, gravity administration sets and other device products. Other Pharmaceuticals include large volume I.V. solutions, nutritionals and contract manufacturing. Hospira's underlying accounting records are maintained on a legal-entity basis for government and public reporting requirements. Segment disclosures are on a performance basis consistent with internal management reporting. For internal management reporting, intersegment transfers of inventory are recognized at standard cost and are not a measure of segment income from operations. The costs of certain corporate functions, stock-based compensation, Interest expense and Other income, net that benefit the entire organization are not allocated. The following segment information has been prepared in accordance with the internal accounting policies of Hospira, as described in "Part II, Item 8. Financial Statements and Supplementary Data, Note 1" in Hospira's 2014 Form 10-K . Reportable segment information: The table below presents information about Hospira's reportable segments for the three months ended June 30 : Net Sales Income From Operations (dollars in millions) 2015 2014 2015 2014 Americas $ 964.4 $ 913.2 $ 273.0 $ 136.6 EMEA 129.1 132.7 (19.7 ) (11.7 ) APAC 90.1 89.9 6.9 12.2 Total reportable segments $ 1,183.6 $ 1,135.8 260.2 137.1 Corporate functions (26.6 ) (19.9 ) Stock-based compensation (15.0 ) (17.7 ) Income From Operations 218.6 99.5 Interest expense and Other income, net (12.6 ) (18.4 ) Income Before Income Taxes $ 206.0 $ 81.1 The table below presents information about Hospira's reportable segments for the six months ended June 30 : Net Sales Income From Operations (dollars in millions) 2015 2014 2015 2014 Americas $ 1,941.3 $ 1,755.0 $ 472.9 $ 278.4 EMEA 247.6 265.5 (50.2 ) (25.8 ) APAC 169.6 166.1 23.5 13.1 Total reportable segments $ 2,358.5 $ 2,186.6 446.2 265.7 Corporate functions (65.1 ) (37.9 ) Stock-based compensation (29.1 ) (28.7 ) Income From Operations 352.0 199.1 Interest expense and Other income, net (24.1 ) (36.9 ) Income Before Income Taxes $ 327.9 $ 162.2

Pfizer Transaction

Pfizer Transaction	6 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
Pfizer Transaction	Pfizer Transaction On February 5, 2015, Hospira entered into the Merger Agreement with Pfizer and Merger Sub. The Merger Agreement provides for the Merger of Merger Sub with and into Hospira. As a result, Hospira will become a wholly owned subsidiary of Pfizer, and each outstanding share of Hospira common stock (other than any shares of Hospira owned by Hospira as treasury stock, any shares owned by Pfizer or its subsidiaries (including Merger Sub), and dissenting shares, if any, which will not be so converted) will be converted into the right to receive $90.00 in cash, without interest thereon. Each Hospira stock option, restricted stock unit, performance share award, performance restricted stock unit and share of restricted stock, whether vested or unvested, that is outstanding immediately prior to the effectiveness of the Merger will be canceled and converted into the right to receive $90 in cash (in the case of performance share awards and performance restricted stock units, the number of shares of common stock subject to such award will be determined assuming target performance has been met) or, in the case of stock options, the excess, if any, of $90 over the exercise price of such stock option. The Merger Agreement was approved by Hospira's stockholders on May 13, 2015. Consummation of the Merger is subject to the receipt of several regulatory approvals, including the expiration or termination of the applicable waiting periods under the antitrust laws of several other jurisdictions, including the U.S. and the E.U., and the absence of a company material adverse effect on Hospira, as defined in the Merger Agreement. The Merger Agreement contains specified termination rights for Pfizer and Hospira, including a mutual termination right in the event that the Merger is not consummated by December 31, 2015, subject to extension to June 30, 2016 under certain circumstances. Hospira must pay Pfizer a $500 million termination fee (the "Termination Fee") in the event the Merger Agreement is terminated by Pfizer in certain specified circumstances. The Merger Agreement further provides that, upon termination of the Merger Agreement under certain specified circumstances, Hospira will be required to pay to Pfizer $20 million for expenses incurred or paid by or on behalf of Pfizer (with such expenses paid credited to any Termination Fee subsequently paid by Hospira). The Merger Agreement includes restrictions on the conduct of Hospira’s business prior to the completion of the Merger, generally requiring Hospira to conduct its business in the ordinary course and subjecting Hospira to a variety of specified limitations absent Pfizer’s prior written consent. During the three and six months ended June 30, 2015 , Hospira incurred $8.9 million and $25.1 million of transaction and merger related expenses (legal, advisory, other related fees and integration costs), respectively, in connection with the merger, reported in Selling, general and administrative .

Basis of Presentation and Sig35

Basis of Presentation and Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2015
Basis of Presentation and Significant Accounting Policies [Abstract]
Supplier Advances	Supplier Advances Hospira periodically makes supplier advances to achieve timely procurement of products or product components. Supplier advances are in some cases long-term, refundable under certain conditions, either interest bearing or interest free, primarily unsecured and subject to credit risk. In estimating an allowance for loss, Hospira monitors supplier credit, among other factors, and recognizes an allowance in the Condensed Consolidated Statements of Income based on the nature of the advance. Total supplier advances were $35.6 million and $50.9 million as of June 30, 2015 and December 31, 2014 , respectively. The current and long-term balances are reported in Prepaid expenses and Other assets , respectively, in the Condensed Consolidated Balance Sheets .
Unapproved Products	Unapproved Products Prior to regulatory approval and launch, Hospira capitalizes costs associated with certain products. Hospira capitalizes product costs, material and conversion costs in preparation for product launches prior to regulatory approval when regulatory approval of the products is considered probable.

Basis of Presentation and Sig36

Basis of Presentation and Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2015
Basis of Presentation and Significant Accounting Policies [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	Hospira is currently evaluating the impact of the following standards on its consolidated financial statements and related disclosures: Standard Description Effective date of the standard ASU 2014-09, Revenue from Contracts with Customers Supersedes nearly all existing revenue recognition guidance under GAAP. The core principle of the standard is to recognize revenues to depict the transfer of promised goods or services to customers in an amount that reflects the consideration that is expected to be received for those goods or services. The standard defines a five step process to achieve this core principle. In July 2015, the Financial Accounting Standards Board confirmed their decision to defer for one-year the effective date of the new revenue recognition standard. As a result of this deferral the new standard will become effective for the annual reporting period (including interim periods within those periods) beginning after December 15, 2017 and can be adopted either retrospectively to each prior reporting period presented or as a cumulative effect adjustment as of the date of adoption. Early adoption is permitted for annual reporting periods beginning after December 15, 2016. ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs Changes the presentation of debt issuance costs in financial statements where an entity presents such costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Hospira's debt issuance costs, net of amortization, as of June 30, 2015 were $12.9 million reported as Other assets. For fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015 with retrospective adoption.

Business Acquisition (Tables)

Business Acquisition (Tables)	6 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
Schedule of recognized identified assets acquired and liabilities assumed	The following table summarizes the fair value of the assets acquired and liabilities assumed: (dollars in millions) Current assets, net $ 56.8 Property and equipment 118.8 Intangible assets (product rights) 24.6 IPR&D 3.7 Goodwill 40.2 Non-current liabilities, net (7.0 ) Total allocation of purchase price $ 237.1

Restructuring and Optimizatio38

Restructuring and Optimization Actions (Tables)	6 Months Ended
	Jun. 30, 2015
Restructuring and Related Activities [Abstract]
Aggregate restructuring activity	The following summarizes the aggregate facility optimization and restructuring activity including Device Strategy related restructuring charges, see Note 4, for the six months ended June 30, 2015 : (dollars in millions) Employee-Related Benefit Costs Impairment and Accelerated Depreciation Charges Other Total Balance at January 1, 2015 $ 2.8 $ — $ 0.5 $ 3.3 Costs incurred 22.1 7.2 1.5 30.8 Payments (5.9 ) — (0.2 ) (6.1 ) Non-cash items — (7.2 ) — (7.2 ) Balance at June 30, 2015 $ 19.0 $ — $ 1.8 $ 20.8

Device Strategy (Tables)

Device Strategy (Tables)	6 Months Ended
	Jun. 30, 2015
Device Strategy [Abstract]
Schedule of Device Strategy and Related Costs	Charges incurred for the Device Strategy, primarily in the Americas segment, were reported as follows: Three Months Ended June 30, Six Months Ended June 30, Line Item in the (dollars in millions) 2015 2014 2015 2014 Consulting, customer accommodations, contract termination, collection and destruction and other (releases) charges $ (14.0 ) $ 4.1 $ (22.2 ) $ 9.7 Cost of products sold Inventory (releases) charges (0.5 ) 2.0 (0.8 ) 2.3 Cost of products sold Severance and other related (releases) costs (2.6 ) — 15.0 — Restructuring and impairment Other asset impairments and accelerated depreciation (0.9 ) 0.9 (0.9 ) 1.3 Restructuring and impairment Total (releases) charges $ (18.0 ) $ 7.0 $ (8.9 ) $ 13.3

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2015
Investments [Abstract]
Schedule of combined income statement financial information of unconsolidated equity method investments	Combined income statement financial information of unconsolidated equity method investments is as follows: Six Months Ended June 30, (dollars in millions) 2015 2014 Revenue $ 36.7 $ 29.7 Operating expenses 27.3 18.6 Operating income 9.4 11.1 Net Income 7.0 17.4

Fair Value Measures (Tables)

Fair Value Measures (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Basis used to measure certain assets and liabilities at fair value	The following table summarizes the basis used to measure certain assets and liabilities at fair value on a recurring basis in the Condensed Consolidated Balance Sheets : Fair Value Measurements at Reporting Date, Using: June 30, Quoted Prices Significant Significant Unobservable Inputs (dollars in millions) 2015 (Level 1) (Level 2) (Level 3) Financial Assets: Foreign currency exchange contracts $ 0.9 $ 0.9 $ — $ — Investments 195.4 2.8 192.6 — Interest rate swap contracts 1.1 — 1.1 — Financial Liabilities: Foreign currency exchange contracts 0.3 — 0.3 — Fair Value Measurements at Reporting Date, Using: December 31, Quoted Prices Significant Significant Unobservable Inputs (dollars in millions) 2014 (Level 1) (Level 2) (Level 3) Financial Assets: Foreign currency exchange contracts $ 3.0 $ 3.0 $ — $ — Investments 194.6 3.7 190.9 — Interest rate swap contracts 0.1 — 0.1 — Financial Liabilities: Foreign currency exchange contracts 0.6 — 0.6 —
Carrying value and fair value of the senior unsecured notes	The carrying value and estimated aggregate fair value, based primarily on market prices (Level 1), of the senior unsecured notes are as follows: June 30, 2015 December 31, 2014 (dollars in millions) Carrying Value Fair Value Carrying Value Fair Value Senior unsecured notes $ 1,750.0 $ 1,960.6 $ 1,750.0 $ 1,924.0

Financial Instruments and Der42

Financial Instruments and Derivatives (Tables)	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair value of outstanding derivatives	The following table summarizes Hospira's fair value of outstanding derivatives: Condensed Consolidated Balance Sheet Presentation June 30, December 31, (dollars in millions) 2015 2014 Derivatives not designated as hedging instruments Foreign currency exchange contracts: Other receivables $ 0.9 $ 3.0 Other accrued liabilities 0.3 0.6 Derivatives designated as hedging instruments Interest rate swap contracts: Other receivables 1.1 0.1
Impact on earnings from derivatives activity	The impact on earnings from derivatives activity was as follows: Line Item in the Three Months Ended June 30, Six Months Ended June 30, (dollars in millions) 2015 2014 2015 2014 Derivatives not designated as hedging instruments Foreign currency exchange contracts Other income, net $ 3.7 $ 1.5 $ (1.3 ) $ 0.8 Derivatives designated as hedging instruments Interest rate swap contracts Interest income (1.3 ) — (2.7 ) —

Inventories, net (Tables)

Inventories, net (Tables)	6 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories, net consist of the following: June 30, December 31, (dollars in millions) 2015 2014 Finished products $ 562.2 $ 521.7 Work in process 374.2 324.7 Materials 286.0 286.9 Total $ 1,222.4 $ 1,133.3

Property and equipment, net (Ta

Property and equipment, net (Tables)	6 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
Property and equipment, net	Property and equipment, net consists of the following: June 30, December 31, (dollars in millions) 2015 2014 Property and equipment, at cost $ 3,755.3 $ 3,607.2 Accumulated depreciation (1,846.0 ) (1,790.5 ) Total Property and equipment, net $ 1,909.3 $ 1,816.7

Goodwill and Intangible asset45

Goodwill and Intangible assets, net (Tables)	6 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Goodwill and Intangible Assets, Net	The following summarizes Goodwill and Intangible assets, net activity: (dollars in millions) Goodwill Intangible assets, net Balance at January 1, 2015 $ 1,089.1 $ 123.4 Additions or adjustments (10.5 ) 19.1 Amortization — (24.0 ) Currency translation effect (4.9 ) (1.9 ) Balance at June 30, 2015 $ 1,073.7 $ 116.6
Schedule of intangible assets, net	Intangible assets, net consist of the following: Gross Carrying Amount Accumulated Amortization Intangible assets, net June 30, December 31, June 30, December 31, June 30, December 31, (dollars in millions) 2015 2014 2015 2014 2015 2014 Product rights and other $ 550.0 $ 554.3 $ (456.9 ) $ (457.8 ) $ 93.1 $ 96.5 Customer relationships 7.3 7.4 (6.8 ) (6.4 ) 0.5 1.0 IPR&D 4.9 4.9 — — 4.9 4.9 Technology 39.0 39.0 (20.9 ) (18.0 ) 18.1 21.0 Total $ 601.2 $ 605.6 $ (484.6 ) $ (482.2 ) $ 116.6 $ 123.4
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	Intangible asset amortization for each of the five succeeding fiscal years is estimated at: Year (dollars in millions) 2015 $ 43.9 2016 24.2 2017 17.4 2018 8.0 2019 5.2

Other Assets (Tables)

Other Assets (Tables)	6 Months Ended
	Jun. 30, 2015
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other assets	Other assets consist of the following: June 30, December 31, (dollars in millions) 2015 2014 Supplier advances $ 30.9 $ 25.5 Net investment in sales-type leases, less current portion 2.6 6.5 Unapproved products 43.2 36.0 Non-current receivables 9.5 9.2 All other 46.0 41.8 Total $ 132.2 $ 119.0

Sales-Type Leases (Tables)

Sales-Type Leases (Tables)	6 Months Ended
	Jun. 30, 2015
Leases [Abstract]
Net investment in sales-type leases	The net investment in sales-type leases of certain medication management products consists of the following: June 30, December 31, (dollars in millions) 2015 2014 Minimum lease payments receivables $ 8.4 $ 13.7 Unearned interest income (0.5 ) (1.1 ) Net investment in sales-type leases 7.9 12.6 Current portion (1) (5.3 ) (6.1 ) Net investment in sales-type leases, less current portion (1) $ 2.6 $ 6.5 (1) The current and long-term portions are reported in Trade receivables and Other assets , respectively.

Other Accrued Liabilities (Tabl

Other Accrued Liabilities (Tables)	6 Months Ended
	Jun. 30, 2015
Payables and Accruals [Abstract]
Other Accrued Liabilities	Other accrued liabilities consist of the following: June 30, December 31, (dollars in millions) 2015 2014 Accrued rebates $ 122.0 $ 135.5 Income taxes payable 45.9 3.5 Product recalls, customer sales allowances, customer accommodations and other related accruals 95.6 127.5 Accrued returns 27.6 29.1 All other 315.4 331.2 Total $ 606.5 $ 626.8

Post-Retirement Obligations a49

Post-Retirement Obligations and Other Long-term Liabilities (Tables)	6 Months Ended
	Jun. 30, 2015
Post-Retirement Obligations and Other Long-term Liabilities [Abstract]
Components of Post-Retirement Obligations and Other Long-Term Liabilities	Post-retirement obligations and other long-term liabilities consist of the following: June 30, December 31, (dollars in millions) 2015 2014 Accrued post-retirement medical and dental costs $ 54.7 $ 55.2 Pension liabilities 87.9 91.9 Unrecognized tax benefits, including penalties and interest 34.9 33.9 Product recalls, customer sales allowances, customer accommodations and other related accruals 3.3 31.3 Accrued returns 13.3 12.7 All other 30.9 33.7 Total $ 225.0 $ 258.7

Product Recalls, Customer Sal50

Product Recalls, Customer Sales Allowances, Customer Accommodations and Other Related Accruals (Tables)	6 Months Ended
	Jun. 30, 2015
Payables and Accruals [Abstract]
Summary of product recalls and other related accrual activity	The following summarizes Product recalls, customer sales allowances, customer accommodations and other related accruals activity (including certain Device Strategy related releases as discussed in Note 4) for the six months ended June 30, 2015 : (dollars in millions) Product recalls, customer sales allowances, customer accommodations and other related accruals Balances at January 1, 2015 $ 158.8 Provisions net of releases of prior provisions (30.5 ) Payments (29.4 ) Balances at June 30, 2015 $ 98.9

Pension and Post-Retirement B51

Pension and Post-Retirement Benefits (Tables)	6 Months Ended
	Jun. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Net cost recognized	Net periodic benefit cost recognized for Hospira's pension and post-retirement medical and dental benefit plans consist of the following: Pension Plans Three Months Ended June 30, Six Months Ended June 30, (dollars in millions) 2015 2014 2015 2014 Service cost for benefits earned during the period $ 0.6 $ 0.4 $ 1.2 $ 0.8 Interest cost on projected benefit obligations 6.1 6.5 12.2 13.0 Expected return on plans' assets (7.5 ) (7.8 ) (15.0 ) (15.6 ) Amortization of net actuarial losses 4.7 3.1 9.4 6.2 Net periodic benefit cost $ 3.9 $ 2.2 $ 7.8 $ 4.4 Medical and Dental Plans Three Months Ended June 30, Six Months Ended June 30, (dollars in millions) 2015 2014 2015 2014 Service cost for benefits earned during the period $ 0.1 $ — $ 0.1 $ 0.1 Interest cost on projected benefit obligations 0.5 0.6 1.1 1.2 Amortization of net actuarial losses 0.2 0.1 0.4 0.2 Net periodic benefit cost $ 0.8 $ 0.7 $ 1.6 $ 1.5

Accumulated Other Comprehensi52

Accumulated Other Comprehensive (Loss) Income, net of tax (Tables)	6 Months Ended
	Jun. 30, 2015
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Accumulated other comprehensive (loss) income, net of taxes	Changes in Accumulated Other Comprehensive Loss , net of taxes consists of the following: (dollars in millions) Cumulative Foreign Currency Translation Adjustments (1) Cumulative Retirement Plans Unrealized Losses (2) Cumulative Unrealized Losses on Investments (3) Cumulative Losses on Terminated Cash Flow Hedges (4) Total Accumulated Other Comprehensive Loss Balance at January 1, 2015 $ (228.8 ) $ (132.3 ) $ (4.2 ) $ (1.6 ) $ (366.9 ) Other comprehensive (loss) income before reclassifications (63.4 ) — 0.7 — (62.7 ) Amounts Reclassified from — 6.2 — 0.1 6.3 Balance at June 30, 2015 $ (292.2 ) $ (126.1 ) $ (3.5 ) $ (1.5 ) $ (423.3 ) (1) Net of taxes of $0.0 million as of June 30, 2015 and December 31, 2014 . (2) Net of taxes of $74.3 million and $77.9 million as of June 30, 2015 and December 31, 2014 , respectively. (3) Net of taxes of $2.8 million and $3.4 million as of June 30, 2015 and December 31, 2014 , respectively. (4) Net of taxes of $1.1 million as of June 30, 2015 and December 31, 2014 .
Schedule of reclassifications out of accumulated other comprehensive loss	The following summarizes reclassifications out of Accumulated Other Comprehensive Loss : Three Months Ended June 30, Six Months Ended June 30, (dollars in millions) 2015 2014 2015 2014 Line Item in the Amortization of loss on terminated cash flow hedges $ — $ 0.1 $ 0.1 $ 0.1 Other income, net — — — — Income tax expense Net of income taxes — 0.1 0.1 0.1 Amortization of pension plans actuarial losses 4.7 3.1 9.4 6.2 (1) Amortization of medical and dental plans actuarial losses 0.2 0.1 0.4 0.2 (1) Total amortization before income taxes 4.9 3.2 9.8 6.4 (2.6 ) (1.0 ) (3.6 ) (2.5 ) Income tax expense Net of income taxes 2.3 2.2 6.2 3.9 Total reclassifications for the period $ 2.3 $ 2.3 $ 6.3 $ 4.0 (1) These Accumulated Other Comprehensive Loss components are included in the computation of net periodic benefit cost. See Note 17 for additional details.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Disclosure of basic and diluted earnings per share and effect of stock-based awards on the weighted average number of shares outstanding used in calculating diluted earnings per share	The following table shows the effect of stock-based awards on the weighted average number of shares outstanding used in calculating Diluted Earnings Per Share , and the number of shares excluded from the Diluted Earnings Per Share calculation as the exercise price of the awards exceeded the average stock price: Three Months Ended June 30, Six Months Ended June 30, (shares in millions) 2015 2014 2015 2014 Weighted average basic common shares outstanding 172.8 167.7 172.1 167.1 Incremental shares outstanding related to stock-based awards 3.3 2.3 3.5 2.7 Weighted average dilutive common shares outstanding 176.1 170.0 175.6 169.8 Outstanding awards for which the exercise price of the award exceeds the average stock price — 3.9 — 4.0

Incentive Stock Program (Tables

Incentive Stock Program (Tables)	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Compensation Expense	Stock-based compensation expense associated with Hospira's 2004 Plan consists of the following: Three Months Ended June 30, Six Months Ended June 30, (dollars in millions) 2015 2014 2015 2014 Stock-based compensation expense $ 15.0 $ 17.7 $ 29.1 $ 28.7 Income tax benefit recognized 5.4 6.5 10.5 10.5
Weighted average fair value and weighted average assumptions utilized for option grants	For prior grants, the weighted average grant date fair value using the Black-Scholes option-pricing model, and the corresponding weighted average assumptions were as follows: Three Months Ended June 30, Six Months Ended June 30, 2014 2014 Expected volatility 27.7 % 27.7 % Expected life (years) 4.7 4.7 Risk-free interest rate 1.5 % 1.5 % Expected dividend yield 0.0 % 0.0 % Fair value per stock option $ 13.47 $ 11.29
Weighted fair value and weighted average assumptions for the performance share award grants	For prior grants, the weighted average grant date fair value using the Monte Carlo simulation model and the corresponding weighted average assumptions were as follows: Six Months Ended June 30, 2014 Expected volatility 30.8 % Risk-free interest rate 0.6 % Expected dividend yield 0.0 % Fair value per performance share $ 54.55

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Reporting, Disclosure of Other Information about Entity's Reportable Segments [Abstract]
Information about Hospira's reportable segments	The table below presents information about Hospira's reportable segments for the three months ended June 30 : Net Sales Income From Operations (dollars in millions) 2015 2014 2015 2014 Americas $ 964.4 $ 913.2 $ 273.0 $ 136.6 EMEA 129.1 132.7 (19.7 ) (11.7 ) APAC 90.1 89.9 6.9 12.2 Total reportable segments $ 1,183.6 $ 1,135.8 260.2 137.1 Corporate functions (26.6 ) (19.9 ) Stock-based compensation (15.0 ) (17.7 ) Income From Operations 218.6 99.5 Interest expense and Other income, net (12.6 ) (18.4 ) Income Before Income Taxes $ 206.0 $ 81.1 The table below presents information about Hospira's reportable segments for the six months ended June 30 : Net Sales Income From Operations (dollars in millions) 2015 2014 2015 2014 Americas $ 1,941.3 $ 1,755.0 $ 472.9 $ 278.4 EMEA 247.6 265.5 (50.2 ) (25.8 ) APAC 169.6 166.1 23.5 13.1 Total reportable segments $ 2,358.5 $ 2,186.6 446.2 265.7 Corporate functions (65.1 ) (37.9 ) Stock-based compensation (29.1 ) (28.7 ) Income From Operations 352.0 199.1 Interest expense and Other income, net (24.1 ) (36.9 ) Income Before Income Taxes $ 327.9 $ 162.2

Basis of Presentation and Sig56

Basis of Presentation and Significant Accounting Policies (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Basis of Presentation and Significant Accounting Policies [Abstract]
Debt issuance cost	$ 12.9
Advances to supplier	35.6	$ 50.9
Unapproved Products	64.4	52.5
Unapproved Product Reserves	$ 7.1	$ 7.6

Business Acquisition (Details)

Business Acquisition (Details) $ in Millions	Jul. 04, 2014USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Feb. 28, 2014product
API Busines
Business Acquisition [Line Items]
Preliminary purchase price	$ 237.1
Period of hold-back	18 months
Amount of reduction in purchase price and hold-back		$ 10.1
Portion of purchase price, subject to eighteen month hold-back	$ 6.9
Acquisition and integration-related costs			$ 1.1	$ 1.9	$ 1.6	$ 2.8
Cumulative acquisition and integration-related costs					$ 41.2
Evolabis
Business Acquisition [Line Items]
Number of on-market oncology products added | product							15

Business Acquisition (Assets Ac

Business Acquisition (Assets Acquired and Liabilities Assumed) (Details) - USD ($) $ in Millions	Jul. 04, 2014	Jun. 30, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Goodwill		$ 1,073.7	$ 1,089.1
API Busines
Business Acquisition [Line Items]
Current assets, net	$ 56.8
Property and equipment	118.8
Intangible assets (product rights)	24.6
IPR&D	3.7
Goodwill	40.2
Non-current liabilities, net	(7)
Total allocation of purchase price	$ 237.1
Product Rights | API Busines
Business Acquisition [Line Items]
Weighted average useful life	9 years

Restructuring and Optimizatio59

Restructuring and Optimization Actions (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2015
Restructuring Reserve
Asset impairment charges			$ 1.8	$ 7.3
Restructuring Charges			30.8
Restructuring and related cost, incurred	$ 0.5	$ 1.6	1.1	$ 1.9
Employee Severance
Restructuring Reserve
Restructuring costs incurred to date	16.4		16.4
Contract Termination
Restructuring Reserve
Restructuring costs incurred to date	2.3		2.3
Restructuring and Impairment | Boulder, Colorado | API R&D | Employee Related and Other Exit Costs
Restructuring Reserve
Business exit costs	(0.2)		0.5
Asset impairment charges	0		1.8
Restructuring and Impairment | Americas | Clayton, North Carolina, Manufacturing Facility | Other Restructuring
Restructuring Reserve
Restructuring Charges	$ 2.9		$ 13.3
Restructuring, Impairment And (Gain) On Disposal Of Assets, Net | Americas | Clayton, North Carolina, Manufacturing Facility | Facility Closing
Restructuring Reserve
Asset impairment charges					$ 21.9
Restructuring Charges					$ 45
Forecast | Americas | Clayton, North Carolina, Manufacturing Facility | Employee Severance
Restructuring Reserve
Expected cost remaining						$ 15
Forecast | Americas | Clayton, North Carolina, Manufacturing Facility | Other Restructuring
Restructuring Reserve
Expected cost remaining						$ 8

Restructuring and Optimizatio60

Restructuring and Optimization Actions (Details 2) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015
Restructuring Reserve [Roll Forward]
Balance at January 1, 2015	$ 3.3
Costs incurred	30.8
Payments	(6.1)
Non-cash items	(7.2)
Balance at June 30, 2015	20.8
Employee-Related Benefit Costs
Restructuring Reserve [Roll Forward]
Balance at January 1, 2015	2.8
Costs incurred	22.1
Payments	(5.9)
Non-cash items	0
Balance at June 30, 2015	19
Impairment and Accelerated Depreciation Charges
Restructuring Reserve [Roll Forward]
Balance at January 1, 2015	0
Costs incurred	7.2
Payments	0
Non-cash items	(7.2)
Balance at June 30, 2015	0
Other
Restructuring Reserve [Roll Forward]
Balance at January 1, 2015	0.5
Costs incurred	1.5
Payments	(0.2)
Non-cash items	0
Balance at June 30, 2015	$ 1.8

Device Strategy (Details)

Device Strategy (Details) - Device Strategy - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Cost of Products Sold | Consulting, customer accommodations, contract termination, collection and destruction and other (releases) charges
Device Strategy and Related Costs [Line Items]
Charges incurred	$ (14)	$ 4.1	$ (22.2)	$ 9.7
Cost of Products Sold | Inventory (releases) charges
Device Strategy and Related Costs [Line Items]
Charges incurred	(0.5)	2	(0.8)	2.3
Restructuring and Impairment | Severance and other related (releases) costs
Device Strategy and Related Costs [Line Items]
Charges incurred	(2.6)	0	15	0
Restructuring and Impairment | Other asset impairments and accelerated depreciation
Device Strategy and Related Costs [Line Items]
Charges incurred	(0.9)	0.9	(0.9)	1.3
Americas
Device Strategy and Related Costs [Line Items]
Charges incurred	$ (18)	$ 7	$ (8.9)	$ 13.3

Collaborative and Other Arran62

Collaborative and Other Arrangements (Details)	Apr. 29, 2013USD ($)product	Mar. 31, 2015USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)	Dec. 31, 2014USD ($)	Apr. 30, 2013USD ($)
Schedule of Collaborative Arrangement Agreements [Line Items]
Research and development expense			$ 89,800,000	$ 75,700,000	$ 225,200,000	$ 158,900,000
Cumulative development funding							$ 93,900,000
NovaQuest
Schedule of Collaborative Arrangement Agreements [Line Items]
Number of biosimilar products in an agreement | product	3
Research and development expense	$ 50,000,000		3,000,000	$ 11,800,000	5,900,000	$ 18,700,000
Milestone payments contingent on sale of product									$ 20,000,000
Maximum | NovaQuest
Schedule of Collaborative Arrangement Agreements [Line Items]
Development funding to be contributed									$ 120,000,000
Collaborative Arrangement | Pfenex
Schedule of Collaborative Arrangement Agreements [Line Items]
Payment for collaborative arrangement development funding		$ 51,000,000
Collaborative arrangement development funding to be contributed, development milestones			31,000,000		31,000,000		31,000,000
Collaborative arrangement development funding to be contributed, additional contribution			260,000,000		$ 260,000,000		260,000,000
Collaborative arrangement development funding to be contributed, period of contribution					5 years
Development funding to be contributed by another party in arrangement			20,000,000		$ 20,000,000		$ 20,000,000
Development funding to be contributed								$ 55,000,000
Collaborative arrangement development funding paid and capitalized			$ 6,100,000		$ 23,900,000
Collaborative Arrangement | Q Core
Schedule of Collaborative Arrangement Agreements [Line Items]
Number of years in payment agreement					2 years

Investments (Details)

Investments (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Jul. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jul. 31, 2014
Equity method investments
Undistributed equity income from affiliates	$ (1,300,000)	$ (8,700,000)	$ (2,900,000)	$ (12,000,000)
Combined income statement information of unconsolidated equity method investments
Revenue	1,183,600,000	1,135,800,000	2,358,500,000	2,186,600,000
Operating income	218,600,000	99,500,000	352,000,000	199,100,000
Net Income	145,100,000	$ 70,900,000	220,700,000	138,800,000
Accumulated Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax	$ 3,500,000		$ 3,500,000			$ 4,200,000
Zydus Hospira Oncology Private Limited
Equity method investments
Ownership in a joint venture, Zydus Hospira Oncology Private Limited (as a percent)	50.00%		50.00%
Unconsolidated equity method investments
Combined income statement information of unconsolidated equity method investments
Revenue			$ 36,700,000	29,700,000
Operating expenses			27,300,000	18,600,000
Operating income			9,400,000	11,100,000
Net Income			$ 7,000,000	$ 17,400,000
R&D Venture
Combined income statement information of unconsolidated equity method investments
Advances to affiliate								$ 30,000,000
R&D Venture | Subsequent Event
Combined income statement information of unconsolidated equity method investments
Additional advances within 12 months					$ 15,000,000
Convertible Bond Due September 30, 2019 | Convertible Debt
Combined income statement information of unconsolidated equity method investments
Face amount							$ 200,000,000
Interest rate	6.00%		6.00%

Fair Value Measures (Details)

Fair Value Measures (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Fair Value Assets and Liabilities Measurement
Senior unsecured notes, carrying value	$ 1,750	$ 1,750
Senior unsecured notes, fair value	1,960.6	1,924
Fair Value, Measurements, Recurring
Fair Value Assets and Liabilities Measurement
Foreign currency exchange contracts	0.9	3
Investments	195.4	194.6
Interest rate swap contracts	1.1	0.1
Foreign currency exchange contracts	0.3	0.6
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Items (Level 1)
Fair Value Assets and Liabilities Measurement
Foreign currency exchange contracts	0.9	3
Investments	2.8	3.7
Interest rate swap contracts	0	0
Foreign currency exchange contracts	0	0
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)
Fair Value Assets and Liabilities Measurement
Foreign currency exchange contracts	0	0
Investments	192.6	190.9
Interest rate swap contracts	1.1	0.1
Foreign currency exchange contracts	0.3	0.6
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3)
Fair Value Assets and Liabilities Measurement
Foreign currency exchange contracts	0	0
Investments	0	0
Interest rate swap contracts	0	0
Foreign currency exchange contracts	$ 0	$ 0

Financial Instruments and Der65

Financial Instruments and Derivatives Financial Instruments and Derivatives (Narrative) (Details) - Debt - USD ($)	1 Months Ended
	Jul. 31, 2015	Dec. 31, 2014
Subsequent Event
Derivative [Line Items]
Gain related to basis adjustment of debt associated with terminated swap contracts	$ 2,700,000
Cash received as a result of swap terminations	$ 5,000,000
Notes Payable | 5.20% Note due August 2020
Derivative [Line Items]
Total notional amount		$ 350,000,000
Face amount		$ 350,000,000
Interest rate		5.20%

Financial Instruments and Der66

Financial Instruments and Derivatives (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Derivatives not designated as hedging instruments | Foreign currency forward exchange contracts | Other receivables
Derivatives, Fair Value
Derivative asset	$ 0.9	$ 3
Derivatives not designated as hedging instruments | Foreign currency forward exchange contracts | Other accrued liabilities
Derivatives, Fair Value
Derivative liability	0.3	0.6
Derivatives designated as hedging instruments | Interest rate swap contracts: | Other receivables
Derivatives, Fair Value
Derivative liability	$ 1.1	$ 0.1

Financial Instruments and Der67

Financial Instruments and Derivatives (Details 2) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Derivatives not designated as hedging instruments | Foreign currency forward exchange contracts | Other income, net
Derivative Instruments, Loss (Gain)
Line Item in the Condensed Consolidated Statement of Income	$ 3.7	$ 1.5	$ (1.3)	$ 0.8
Derivatives designated as hedging instruments | Interest rate swap contracts: | Interest Income
Derivative Instruments, Loss (Gain)
Line Item in the Condensed Consolidated Statement of Income	$ (1.3)	$ 0	$ (2.7)	$ 0

Inventories, net (Details)

Inventories, net (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Inventory Disclosure [Abstract]
Finished products	$ 562.2	$ 521.7
Work in process	374.2	324.7
Materials	286	286.9
Total	1,222.4	1,133.3
Inventory Reserves	$ 104.8	$ 136.4

Property and equipment, net (De

Property and equipment, net (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Property, Plant and Equipment [Abstract]
Property and equipment, at cost	$ 3,755.3	$ 3,607.2
Accumulated depreciation	(1,846)	(1,790.5)
Total Property and equipment, net	$ 1,909.3	$ 1,816.7

Goodwill and Intangible asset70

Goodwill and Intangible assets, net (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Goodwill
Balance at January 1, 2015			$ 1,089.1
Additions or adjustments			(10.5)
Currency translation effect			(4.9)
Balance at June 30, 2015	$ 1,073.7		1,073.7
Intangible assets, net
Balance at January 1, 2015			123.4
Additions or adjustments			19.1
Amortization	(12.1)	$ (22.1)	(24)	$ (43.9)
Currency translation effect			(1.9)
Balance at June 30, 2015	$ 116.6		$ 116.6

Goodwill and Intangible asset71

Goodwill and Intangible assets, net (Details 2) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Intangible Assets:
Finite-lived intangible assets, amortization expense	$ 12.1	$ 22.1	$ 24	$ 43.9
Gross Carrying Amount	601.2		601.2		$ 605.6
Accumulated Amortization	(484.6)		(484.6)		(482.2)
Net Intangible Assets	116.6		116.6		123.4
Estimated intangible asset amortization for 2015	43.9		43.9
Estimated intangible asset amortization for 2016	24.2		24.2
Estimated intangible asset amortization for 2017	17.4		17.4
Estimated intangible asset amortization for 2018	8		8
Estimated intangible asset amortization for 2019	5.2		5.2
IPR&D
Intangible Assets:
Gross Carrying Amount	4.9		4.9		4.9
Accumulated Amortization	0		0		0
Net Intangible Assets	4.9		4.9		4.9
Product rights and other
Intangible Assets:
Gross Carrying Amount	550		550		554.3
Accumulated Amortization	(456.9)		(456.9)		(457.8)
Net Intangible Assets	93.1		93.1		96.5
Customer relationships
Intangible Assets:
Gross Carrying Amount	7.3		7.3		7.4
Accumulated Amortization	(6.8)		(6.8)		(6.4)
Net Intangible Assets	0.5		0.5		1
Technology
Intangible Assets:
Gross Carrying Amount	39		39		39
Accumulated Amortization	(20.9)		(20.9)		(18)
Net Intangible Assets	$ 18.1		$ 18.1		$ 21
Minimum
Intangible Assets:
Useful lives of intangible assets (in years)			1 year
Maximum
Intangible Assets:
Useful lives of intangible assets (in years)			12 years
Weighted Average
Intangible Assets:
Useful lives of intangible assets (in years)			9 years

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Millions		Jun. 30, 2015	Dec. 31, 2014
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Supplier advances		$ 30.9	$ 25.5
Net investment in sales-type leases, less current portion	[1]	2.6	6.5
Unapproved products		43.2	36
Non-current receivables		9.5	9.2
All other		46	41.8
Total		$ 132.2	$ 119
[1]	The current and long-term portions are reported in Trade receivables and Other assets, respectively.

Sales-Type Leases (Details)

Sales-Type Leases (Details) - USD ($) $ in Millions		6 Months Ended	12 Months Ended
		Jun. 30, 2015	Dec. 31, 2014
Net investment in sales-type leases
Minimum lease payments receivables		$ 8.4	$ 13.7
Unearned interest income		(0.5)	(1.1)
Net investment in sales-type leases		7.9	12.6
Current portion	[1]	(5.3)	(6.1)
Net investment in sales-type leases, less current portion	[1]	$ 2.6	$ 6.5
Number of days amount past due in sales-type leases		90 days	90 days
[1]	The current and long-term portions are reported in Trade receivables and Other assets, respectively.

Other Accrued Liabilities (Deta

Other Accrued Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Payables and Accruals [Abstract]
Accrued rebates	$ 122	$ 135.5
Income taxes payable	45.9	3.5
Product recalls, customer sales allowances, customer accommodations and other related accruals	95.6	127.5
Accrued returns	27.6	29.1
All other	315.4	331.2
Total	$ 606.5	$ 626.8

Post-Retirement Obligations a75

Post-Retirement Obligations and Other Long-term Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Post-Retirement Obligations and Other Long-term Liabilities [Abstract]
Accrued post-retirement medical and dental costs	$ 54.7	$ 55.2
Pension liabilities	87.9	91.9
Unrecognized tax benefits, including penalties and interest	34.9	33.9
Product recalls, customer sales allowances, customer accommodations and other related accruals	3.3	31.3
Accrued returns	13.3	12.7
All other	30.9	33.7
Total	$ 225	$ 258.7

Product Recalls, Customer Sal76

Product Recalls, Customer Sales Allowances, Customer Accommodations and Other Related Accruals (Textual) (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Payables and Accruals [Abstract]
Product recall and other related accruals	$ 98.9	$ 158.8

Product Recalls, Customer Sal77

Product Recalls, Customer Sales Allowances, Customer Accommodations and Other Related Accruals (Details) $ in Millions	6 Months Ended
	Jun. 30, 2015USD ($)
Product Recalls and Related Accruals [Roll Forward]
Balances at January 1, 2015	$ 158.8
Provisions net of releases of prior provisions	(30.5)
Payments	(29.4)
Balances at June 30, 2015	$ 98.9

Pension and Post-Retirement B78

Pension and Post-Retirement Benefits (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Defined Benefit Plan Disclosure
Defined contribution plan expenses	$ 11.3	$ 9.9	$ 22.4	$ 21.5
Pension Plans
Defined Benefit Plan Disclosure
Service cost for benefits earned during the period	0.6	0.4	1.2	0.8
Interest cost on projected benefit obligations	6.1	6.5	12.2	13
Expected return on plans' assets	(7.5)	(7.8)	(15)	(15.6)
Amortization of net actuarial losses	4.7	3.1	9.4	6.2
Net periodic benefit cost	3.9	2.2	7.8	4.4
Medical and Dental Plans
Defined Benefit Plan Disclosure
Service cost for benefits earned during the period	0.1	0	0.1	0.1
Interest cost on projected benefit obligations	0.5	0.6	1.1	1.2
Amortization of net actuarial losses	0.2	0.1	0.4	0.2
Net periodic benefit cost	$ 0.8	$ 0.7	$ 1.6	$ 1.5

Short-term Borrowings and Lon79

Short-term Borrowings and Long-term Debt (Details)	Jun. 30, 2015USD ($)
Unsecured Revolving Credit Facility Due October, 2016
Long-term and Short-term Debt Instruments [Line Items]
Maximum borrowing capacity	$ 1,000,000,000

Income Taxes (Details)

Income Taxes (Details)	6 Months Ended
	Jun. 30, 2015USD ($)
Income Tax Disclosure [Abstract]
Unrecognized tax benefits, estimated future decreases resulting from settlements with taxing authorities in next fiscal year	$ 10,000,000

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014	Apr. 30, 2011
Common and Preferred Stock
Common stock authorized (shares)	400,000,000
Common stock par value (in dollars per share)	$ 0.01
Preferred stock authorized (shares)	50,000,000
Preferred stock par value (in dollars per share)	$ 0.01
Common stock issued (shares)	186,100,000	183,600,000
Common stock outstanding (shares)	172,900,000	170,400,000
Treasury Stock
Treasury Stock, repurchase authorization (in dollars)	$ 0		$ 1,000,000,000
Prior Repurchases
Treasury Stock
Treasury Stock, repurchase authorization (in dollars)	$ 800,000,000

Accumulated Other Comprehensi82

Accumulated Other Comprehensive (Loss) Income, net of tax (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Reclassification Out of Accumulated Other Comprehensive Loss [Roll Forward]
Balance at January 1, 2015				$ (366.9)
Other comprehensive (loss) income before reclassifications				(62.7)
Amounts Reclassified from Accumulated Other Comprehensive Loss				6.3
Balance at June 30, 2015		$ (423.3)		(423.3)
Cumulative foreign currency translation adjustments, tax		0		0		$ 0
Cumulative retirement plans unrealized losses, tax		74.3		74.3		77.9
Cumulative Unrealized (Losses) on Investments, tax		2.8		2.8		3.4
Cumulative unrealized gains on marketable equity securities, tax		1.1		1.1		$ 1.1
Reclassifications Out of Accumulated Other Comprehensive Loss [Abstract]
Income tax (benefit) expense		(62.2)	$ (18.9)	(110.1)	$ (35.4)
Net Income		145.1	70.9	220.7	138.8
Reclassification out of Accumulated Other Comprehensive Income
Reclassifications Out of Accumulated Other Comprehensive Loss [Abstract]
Net Income		2.3	2.3	6.3	4
Cumulative Foreign Currency Translation Adjustments
Reclassification Out of Accumulated Other Comprehensive Loss [Roll Forward]
Balance at January 1, 2015	[1]			(228.8)
Other comprehensive (loss) income before reclassifications	[1]			(63.4)
Amounts Reclassified from Accumulated Other Comprehensive Loss	[1]			0
Balance at June 30, 2015	[1]	(292.2)		(292.2)
Cumulative Retirement Plans Unrealized Losses
Reclassification Out of Accumulated Other Comprehensive Loss [Roll Forward]
Balance at January 1, 2015	[2]			(132.3)
Other comprehensive (loss) income before reclassifications	[2]			0
Amounts Reclassified from Accumulated Other Comprehensive Loss	[2]			6.2
Balance at June 30, 2015	[2]	(126.1)		(126.1)
Cumulative Retirement Plans Unrealized Losses | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications Out of Accumulated Other Comprehensive Loss [Abstract]
Income tax (benefit) expense		(2.6)	(1)	(3.6)	(2.5)
Amortization of pension plans actuarial losses	[3]	4.7	3.1	9.4	6.2
Amortization of medical and dental plans actuarial losses	[3]	0.2	0.1	0.4	0.2
Total amortization before income taxes		4.9	3.2	9.8	6.4
Net Income		2.3	2.2	6.2	3.9
Cumulative Unrealized Losses on Investments
Reclassification Out of Accumulated Other Comprehensive Loss [Roll Forward]
Balance at January 1, 2015	[1]			(4.2)
Other comprehensive (loss) income before reclassifications	[1]			0.7
Amounts Reclassified from Accumulated Other Comprehensive Loss	[1]			0
Balance at June 30, 2015	[1]	(3.5)		(3.5)
Cumulative Losses on Terminated Cash Flow Hedges
Reclassification Out of Accumulated Other Comprehensive Loss [Roll Forward]
Balance at January 1, 2015	[4]			(1.6)
Other comprehensive (loss) income before reclassifications	[4]			0
Amounts Reclassified from Accumulated Other Comprehensive Loss	[4]			0.1
Balance at June 30, 2015	[4]	(1.5)		(1.5)
Cumulative Losses on Terminated Cash Flow Hedges | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications Out of Accumulated Other Comprehensive Loss [Abstract]
Amortization of loss on terminated cash flow hedges		0	0.1	0.1	0.1
Income tax (benefit) expense		0	0	0	0
Net Income		$ 0	$ 0.1	$ 0.1	$ 0.1
[1]	Net of taxes of $0.0 million as of June 30, 2015 and December 31, 2014.
[2]	Net of taxes of $74.3 million and $77.9 million as of June 30, 2015 and December 31, 2014, respectively
[3]	These Accumulated Other Comprehensive Loss components are included in the computation of net periodic benefit cost. See Note 17 for additional details.
[4]	Net of taxes of $1.1 million as of June 30, 2015 and December 31, 2014.

Earnings Per Share (Details)

Earnings Per Share (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average basic common shares outstanding (shares)	172.8	167.7	172.1	167.1
Incremental shares outstanding related to stock-based awards (shares)	3.3	2.3	3.5	2.7
Weighted average dilutive common shares outstanding (shares)	176.1	170	175.6	169.8
Outstanding Stock Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding options with exercise price of the options exceeding the average stock price (in shares)	0	3.9	0	4

Incentive Stock Program (Detail

Incentive Stock Program (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense	$ 15	$ 17.7	$ 29.1	$ 28.7
Unrecognized compensation costs related to non-vested share-based compensation arrangements	$ 105.9		105.9
Period over which unrecognized compensation cost is expected to be recognized (in years)	1 year 7 months
2004 Long Term Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense	$ 15	17.7	29.1	28.7
Income tax benefit recognized	$ 5.4	$ 6.5	$ 10.5	$ 10.5

Incentive Stock Program (Deta85

Incentive Stock Program (Details 2) - $ / shares	3 Months Ended	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Stock option award
Weighted average fair value and weighted average assumptions
Volatility (percent)	27.70%		27.70%
Expected life (in years)	4 years 8 months 12 days		4 years 8 months 12 days
Risk-free interest rate (percent)	1.50%		1.50%
Dividend yield (percent)	0.00%		0.00%
Fair value per stock option (usd per share)	$ 13.47		$ 11.29
Performance stock awards
Weighted average fair value and weighted average assumptions
Volatility (percent)			30.80%
Risk-free interest rate (percent)			0.60%
Dividend yield (percent)			0.00%
Fair value per stock option (usd per share)			$ 54.55
Restricted stock awards
Restricted Stock and Performance Share Awards
Granted (in shares)		800,000
Weighted average grant date fair value, at the end of the period (in dollars per share)	$ 42.96	$ 87.51	$ 42.96

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	6 Months Ended
	Jun. 30, 2015Lawsuit	Jul. 16, 2015USD ($)	Jul. 15, 2015USD ($)
Subsequent Event | Industrial Facilities in the vicinity of Aurangabad, India | Alleged Groundwater and Soil Contamination
Loss Contingencies
Amount ordered to deposit in escrow | $		$ 0.9	$ 2
Merger Agreement by and Among Hospira, Pfizer and Merger Sub
Loss Contingencies
Number of lawsuits	5

Segment Information (Details)

Segment Information (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)Segmentoperating_unit	Jun. 30, 2014USD ($)
Segment Reporting Information
Reportable segments number | Segment			3
Net Sales	$ 1,183.6	$ 1,135.8	$ 2,358.5	$ 2,186.6
Stock-based compensation	(15)	(17.7)	(29.1)	(28.7)
Income From Operations	218.6	99.5	352	199.1
Interest expense and Other expense, net	(12.6)	(18.4)	(24.1)	(36.9)
Income Before Income Taxes	206	81.1	$ 327.9	162.2
Americas
Segment Reporting Information
Operating units number | operating_unit			3
Net Sales	964.4	913.2	$ 1,941.3	1,755
Income From Operations	273	136.6	$ 472.9	278.4
EMEA
Segment Reporting Information
Operating units number | operating_unit			1
Net Sales	129.1	132.7	$ 247.6	265.5
Income From Operations	(19.7)	(11.7)	$ (50.2)	(25.8)
APAC
Segment Reporting Information
Operating units number | operating_unit			2
Net Sales	90.1	89.9	$ 169.6	166.1
Income From Operations	6.9	12.2	23.5	13.1
Operating segments
Segment Reporting Information
Net Sales	1,183.6	1,135.8	2,358.5	2,186.6
Income From Operations	260.2	137.1	446.2	265.7
Corporate functions
Segment Reporting Information
Income From Operations	$ (26.6)	$ (19.9)	$ (65.1)	$ (37.9)

Pfizer Transaction (Details)

Pfizer Transaction (Details) - Merger agrement with Pfizer Inc. and Perkins Holding Company (Merger Agreement) - USD ($)	Feb. 05, 2015	Jun. 30, 2015	Jun. 30, 2015
Business Acquisition [Line Items]
Cash consideration for each share converted	$ 90
Merger agreement, termination fee	500,000,000
Merger agreement, termination related expenses	$ 20,000,000
Merger related expenses		$ 8,900,000	$ 25,100,000