Bristol-Myers Squibb (BMY) 10-Q 22 Oct 09 2009 Q3 Quarterly report Financial data

Statement Of Income Alternative

Statement Of Income Alternative (USD $)
In Millions, except Per Share data	3 Months Ended Sep. 30, 2009	3 Months Ended Sep. 30, 2008	9 Months Ended Sep. 30, 2009	9 Months Ended Sep. 30, 2008
EARNINGS
Net Sales	$5,487	$5,254	$15,886	$15,348
Cost of products sold	1,562	1,634	4,436	4,874
Marketing, selling and administrative	1,117	1,208	3,258	3,507
Advertising and product promotion	361	362	1,085	1,101
Research and development	838	834	2,590	2,442
Acquired in-process research and development	0	0	0	32
Provision for restructuring, net	54	26	101	67
Litigation expense, net	0	30	132	32
Equity in net income of affiliates	(139)	(164)	(435)	(478)
Other (income)/expense, net	(30)	169	(130)	188
Total Expenses, net	3,763	4,099	11,037	11,765
Earnings from Continuing Operations Before Income Taxes	1,724	1,155	4,849	3,583
Provision for income taxes	434	308	1,340	896
Net Earnings from Continuing Operations	1,290	847	3,509	2,687
Net Earnings from Discontinued Operations	0	1,990	0	2,046
Net Earnings	1,290	2,837	3,509	4,733
Net Earnings Attributable to Noncontrolling Interest	324	259	922	730
Net Earnings Attributable to Bristol-Myers Squibb Company	$966	$2,578	$2,587	$4,003
Earnings per Common Share from Continuing Operations Attributable to Bristol-Myers Squibb Company:
Basic	0.49	0.3	1.3	0.99
Diluted	0.48	0.29	1.3	0.98
Earnings per Common Share Attributable to Bristol-Myers Squibb Company:
Basic	0.49	1.3	1.3	2.02
Diluted	0.48	1.28	1.3	$2
Dividends declared per common share	0.31	0.31	0.93	0.93

Statement Of Other Comprehensiv

Statement Of Other Comprehensive Income (USD $)
In Millions	3 Months Ended Sep. 30, 2009	3 Months Ended Sep. 30, 2008	9 Months Ended Sep. 30, 2009	9 Months Ended Sep. 30, 2008
COMPREHENSIVE INCOME
Net earnings	$1,290	$2,837	$3,509	$4,733
Other Comprehensive Income/(Loss):
Foreign currency translation	107	(141)	127	0
Foreign currency translation on hedge of a net investment	(61)	92	(63)	(23)
Derivatives qualifying as cash flow hedges, net of taxes of $20 and $22 for the three months ended September 30, 2009 and 2008, respectively; and $18 and $3 for the nine months ended September 30, 2009 and 2008, respectively	(35)	48	(32)	(18)
Derivatives qualifying as cash flow hedges reclassified to net earnings, net of taxes of $1 and $8 for the three months ended September 30, 2009 and 2008, respectively; and $15 and $24 for the nine months ended September 30, 2009 and 2008, respectively	(7)	19	(48)	54
Pension and postretirement benefits, net of taxes of $220 and $9 for the nine months ended September 30, 2009 and 2008, respectively	0	0	405	17
Pension and postretirement benefits reclassified to net earnings, net of taxes of $4 and $22 for the three months ended September 30, 2009 and 2008, respectively; and $41 and $39 for the nine months ended September 30, 2009 and 2008, respectively	12	7	77	53
Available for sale securities, net of taxes of $2 and $5 for the three months ended September 30, 2009 and 2008, respectively; and $3 and $5 for the nine months ended September 30, 2009 and 2008, respectively	21	(20)	35	(129)
Available for sale securities reclassified to net earnings, net of taxes of $6 for both the three and nine month periods ended September 30, 2008	0	154	0	154
Total Other Comprehensive Income/(Loss)	37	159	501	108
Comprehensive Income	1,327	2,996	4,010	4,841
Comprehensive Income Attributable to Noncontrolling Interest	326	259	929	730
Comprehensive Income Attributable to Bristol-Myers Squibb Company	$1,001	$2,737	$3,081	$4,111

1_Statement Of Other Comprehens

Statement Of Other Comprehensive Income (Parenthetical) (USD $)
In Millions	3 Months Ended Sep. 30, 2009	3 Months Ended Sep. 30, 2008	9 Months Ended Sep. 30, 2009	9 Months Ended Sep. 30, 2008
Derivatives qualifying as cash flow hedges, taxes	$20	$22	$18	$3
Derivatives qualifying as cash flow hedges reclassified to net earnings, taxes	1	8	15	24
Pension and postretirement benefits, taxes	0	0	220	9
Pension and postretirement benefits reclassified to net earnings, taxes	4	22	41	39
Available for sale securities, taxes	2	5	3	5
Available for sale securities reclassified to net earnings, taxes	$0	$6	$0	$6

Retained Earnings Table

Retained Earnings Table (USD $)
In Millions	9 Months Ended Sep. 30, 2009	9 Months Ended Sep. 30, 2008
RETAINED EARNINGS
Retained Earnings at January 1	$22,549	$19,762
Net Earnings Attributable to Bristol-Myers Squibb Company	2,587	4,003
Cash dividends declared	(1,849)	(1,846)
Retained Earnings at September 30	$23,287	$21,919

Statement Of Financial Position

Statement Of Financial Position Classified (USD $)
In Millions	9 Months Ended Sep. 30, 2009	9 Months Ended Dec. 31, 2008
Current Assets:
Cash and cash equivalents	$6,367	$7,976
Marketable securities	302	289
Receivables, net of allowances of $127 in 2009 and $128 in 2008	3,699	3,644
Inventories, net	1,824	1,765
Deferred income taxes, net of valuation allowances	702	703
Prepaid expenses	493	320
Total Current Assets	13,387	14,697
Property, plant and equipment, net	5,561	5,405
Goodwill	5,475	4,827
Other intangible assets, net	2,726	1,151
Deferred income taxes, net of valuation allowances	1,437	2,137
Marketable securities	1,202	188
Other assets	1,163	1,081
Total Assets	30,951	29,486
Current Liabilities:
Short-term borrowings	286	154
Accounts payable	1,796	1,535
Accrued expenses	2,988	2,936
Deferred income	276	277
Accrued rebates and returns	813	806
U.S. and foreign income taxes payable	433	347
Dividends payable	626	617
Accrued litigation liabilities	174	38
Total Current Liabilities	7,392	6,710
Pension, postretirement and postemployment liabilities	1,018	2,285
Deferred income	934	791
U.S. and foreign income taxes payable	521	466
Other liabilities	408	441
Long-term debt	6,307	6,585
Total Liabilities	16,580	17,278
Commitments and contingencies (Note 23)	-	-
Bristol-Myers Squibb Company Shareholders' Equity:
Preferred stock, $2 convertible series, par value $1 per share: Authorized 10 million shares; issued and outstanding 5,515 in 2009 and 5,668 in 2008, liquidation value of $50 per share	0	0
Common stock, par value of $0.10 per share: Authorized 4.5 billion shares; 2.2 billion issued in both 2009 and 2008	220	220
Capital in excess of par value of stock	3,808	2,828
Restricted stock	(75)	(71)
Accumulated other comprehensive loss	(2,218)	(2,719)
Retained earnings	23,287	22,549
Less cost of treasury stock -224 million common shares in 2009 and 226 million in 2008	(10,504)	(10,566)
Total Bristol-Myers Squibb Company Shareholders' Equity	14,518	12,241
Noncontrolling interest	(147)	(33)
Total Equity	14,371	12,208
Total Liabilities and Equity	$30,951	$29,486

2_Statement Of Financial Positi

Statement Of Financial Position Classified (Parenthetical) (USD $)
In Millions, except Share data	Sep. 30, 2009	Dec. 31, 2008
Receivables, allowances	$127	$128
Preferred stock, $2 convertible series, par value	$1	$1
Preferred stock, $2 convertible series, Authorized	10,000,000	10,000,000
Preferred stock, $2 convertible series, issued	5,515	5,668
Preferred stock, $2 convertible series, outstanding	5,515	5,668
Preferred stock, $2 convertible series, liquidation value	$50	$50
Common stock, par value	0.1	0.1
Common stock, Authorized	4,500,000,000	4,500,000,000
Common stock, issued	2,200,000,000	2,200,000,000
Treasury stock, shares	224,000,000	226,000,000

Statement Of Cash Flows Indirec

Statement Of Cash Flows Indirect (USD $)
In Millions	9 Months Ended Sep. 30, 2009	9 Months Ended Sep. 30, 2008
Cash Flows From Operating Activities:
Net earnings	$3,509	$4,733
Adjustments to reconcile net earnings to net cash provided by operating activities:
Net earnings attributable to noncontrolling interest	(922)	(730)
Depreciation	348	449
Amortization	160	187
Deferred income tax expense	179	1,629
Stock-based compensation expense	130	132
Impairment charges	0	247
Gain on sale of product lines and businesses	(75)	(3,434)
Gain on debt buyback and interest swap terminations	(7)	0
(Gain)/Loss on sale of property, plant and equipment and investment in other companies	(31)	21
Acquired in-process research and development	0	32
Changes in operating assets and liabilities:
Receivables	77	(235)
Inventories	1	(75)
Deferred income	135	2
Accounts payable	228	146
U.S. and foreign income taxes payable	56	385
Changes in other operating assets and liabilities	(1,067)	(178)
Net Cash Provided by Operating Activities	2,721	3,311
Cash Flows From Investing Activities:
Proceeds from sale of marketable securities	1,601	329
Purchases of marketable securities	(2,318)	(248)
Additions to property, plant and equipment and capitalized software	(534)	(656)
Proceeds from sale of property, plant and equipment and investment in other companies	45	62
Proceeds from sale of product lines and businesses	85	4,531
Purchase of Medarex, Inc, net of cash acquired	(2,232)	0
Purchase of Kosan Biosciences, Inc, net of cash acquired	0	(191)
Proceeds from sale and leaseback of properties	0	227
Net Cash (Used in)/Provided by Investing Activities	(3,353)	4,054
Cash Flows From Financing Activities:
Short-term debt repayments	(1)	(1,717)
Long-term debt borrowings	0	1,580
Long-term debt repayments	(132)	(1)
Interest rate swap termination	194	(19)
Issuances of common stock under stock plans and excess tax benefits from share-based payment arrangements	3	4
Dividends paid	(1,857)	(1,845)
Proceeds from Mead Johnson initial public offering	782	0
Net Cash Used in Financing Activities	(1,011)	(1,998)
Effect of Exchange Rates on Cash and Cash Equivalents	34	5
(Decrease)/Increase in Cash and Cash Equivalents	(1,609)	5,372
Cash and Cash Equivalents at Beginning of Period	7,976	1,801
Cash and Cash Equivalents at End of Period	$6,367	$7,173

Note 1. Basis of Presentation a

Note 1. Basis of Presentation and New Accounting Standards
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
Note 1. Basis of Presentation and New Accounting Standards	Note 1. Basis of Presentation and New Accounting Standards Bristol-Myers Squibb Company (which may be referred to as Bristol-Myers Squibb, BMS or the Company) prepared these unaudited consolidated financial statements following the requirements of the Securities and Exchange Commission and United States (U.S.) generally accepted accounting principles (GAAP) for interim reporting. Under those rules, certain footnotes and other financial information that are normally required by GAAP for annual financial statements can be condensed or omitted. The Company is responsible for the consolidated financial statements included in this Form 10-Q. These consolidated financial statements include all normal and recurring adjustments necessary for a fair presentation of the Companys financial position at September30, 2009 and December31, 2008, the results of its operations for the three and nine months ended September30, 2009 and 2008 and its cash flows for the nine months ended September30, 2009 and 2008. All material intercompany balances and transactions have been eliminated. Material subsequent events are evaluated and disclosed through the report issuance date, October22, 2009. These unaudited consolidated financial statements and the related notes should be read in conjunction with the audited consolidated financial statements for the year ended December31, 2008 included in our Current Report on Form 8-K filed on April28, 2009. See Note 3. Business Segments for discussion of the change in business segments, due to the Mead Johnson Nutrition Company (Mead Johnson) initial public offering. Certain reclassifications were made to conform to the current period presentation. Revenues, expenses, assets and liabilities can vary during each quarter of the year. Accordingly, the results and trends in these unaudited consolidated financial statements may not be indicative of full year operating results. The Company recognizes revenue when title and substantially all the risks and rewards of ownership have transferred to the customer. Generally, revenue is recognized at the time of shipment; however, for certain sales made by Mead Johnson and certain non-U.S. businesses within the BioPharmaceuticals segment, revenue is recognized on the date of receipt by the purchaser. Revenues are reduced at the time of recognition to reflect expected returns that are estimated based on historical experience and business trends. Additionally, provisions are made at the time of revenue recognition for all discounts, rebates and estimated sales allowances based on historical experience updated for changes in facts and circumstances, as appropriate. Such provisions are recorded as a reduction of revenue. In addition, the Company includes alliance revenue in net sales. The Company has agreements to promote pharmaceuticals discovered by other companies. Alliance revenue is based upon a percentage of the Companys copromotion partners net sales and is earned when the related product is shipped by the copromotion partners and title passes to the customer. The preparation of financial statements in conformity with GAAP requires the use of estimates and assumptions that aff

Note 2. Alliances and Collabora

Note 2. Alliances and Collaborations
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
Note 2. Alliances and Collaborations	Note 2. Alliances and Collaborations sanofi The Company has agreements with sanofi-aventis (sanofi) for the codevelopment and cocommercialization of AVAPRO*/AVALIDE* (irbesartan/irbesartan-hydrochlorothiazide), an angiotensin II receptor antagonist indicated for the treatment of hypertension and diabetic nephropathy, and PLAVIX* (clopidogrel bisulfate), a platelet aggregation inhibitor. The worldwide alliance operates under the framework of two geographic territories; one in the Americas (principally the U.S., Canada, Puerto Rico and Latin American countries) and Australia and the other in Europe and Asia. Accordingly, two territory partnerships were formed to manage central expenses, such as marketing, research and development and royalties, and to supply finished product to the individual countries. In general, at the country level, agreements either to copromote (whereby a partnership was formed between the parties to sell each brand) or to comarket (whereby the parties operate and sell their brands independently of each other) are in place. The agreements expire on the later of (i)with respect to PLAVIX*, 2013 and, with respect to AVAPRO*/AVALIDE*, 2012 in the Americas and Australia and 2013 in Europe and Asia and (ii)the expiration of all patents and other exclusivity rights in the applicable territory. The Company acts as the operating partner for the territory covering the Americas and Australia and owns a 50.1% majority controlling interest in this territory. Sanofis ownership interest in this territory is 49.9%. As such, the Company consolidates all country partnership results for this territory and records sanofis share of the results as a noncontrolling interest which was $443 million ($300 million after-tax) and $375 million ($250 million after-tax) for the three months ended September30, 2009 and 2008, respectively, and $1,258 million ($849 million after-tax) and $1,063 million ($714 million after-tax) for the nine months ended September30, 2009 and 2008, respectively. The Company recorded net sales in this territory and in comarketing countries outside this territory (Germany, Italy, Spain and Greece) of $1,883 million and $1,773 million for the three months ended September30, 2009 and 2008, respectively, and $5,472 million and $5,108 million for the nine months ended September30, 2009 and 2008, respectively. Discovery royalties owed to sanofi were included in cost of products sold and amounted to $305 million and $273 million during the three months ended September30, 2009 and 2008, respectively, and $881 and $778 million during the nine months ended September30, 2009 and 2008, respectively. Cash flows from operating activities of the partnerships in the territory covering the Americas and Australia are recorded as operating activities within the Companys consolidated statements of cash flows. Distributions of partnership profits to sanofi and sanofis funding of ongoing partnership operations occur on a routine basis and are also recorded within operating activities on the Companys consolidated statements of cash flows. Sanofi acts as the operating partner for the territory covering Europe and Asia and owns a 50.1% m

Note 3. Business Segments

Note 3. Business Segments
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
Note 3. Business Segments	Note 3. Business Segments Segment information is consistent with how management reviews the businesses, makes investing and resource allocation decisions and assesses operating performance. The Company reports financial and operating information in two segments BioPharmaceuticals and Mead Johnson. The BioPharmaceuticals segment is comprised of the global biopharmaceutical and international consumer medicines businesses. The Mead Johnson segment consists of the Companys 83.1% interest in Mead Johnson Nutrition Company, which is primarily an infant formula and childrens nutrition business. Effective January1, 2009, the Company changed its measurement of segment income for all the periods presented. The following summarizes the most significant changes from the previously reported amounts: Certain items that were previously excluded from segment results are now included, including, but not limited to, costs attributed to certain corporate administrative functions and programs, stock-based compensation expense and net interest expense; Certain items that were previously included in segment results are now excluded, including but not limited to, costs attributed to productivity transformation initiative (PTI), upfront milestone payments and acquired in-process research and development; and The pre-tax income attributable to noncontrolling interest is excluded from the segment results. The following table reconciles the Companys segment results to earnings from continuing operations before income taxes: ThreeMonthsEndedSeptember30, NineMonthsEndedSeptember30, Dollars in Millions 2009 2008 2009 2008 Segment results: BioPharmaceuticals $ 1,216 $ 1,022 $ 3,556 $ 2,702 Mead Johnson 127 159 437 555 Total segment results 1,343 1,181 3,993 3,257 Reconciliation of segment results to earnings from continuing operations before income taxes: Productivity transformation initiative (88 ) (107 ) (199 ) (329 ) Auction rate securities (ARS) impairment charge (224 ) (247 ) Upfront and milestone payments and acquired in-process research and development (37 ) (174 ) (120 ) Litigation and product liability charges (32 ) (125 ) (50 ) Mead Johnson separation costs (6 ) (9 ) (31 ) (10 ) Medarex acquisition (Note 5) 10 10 Mead Johnson gain on sale of trademark 12 Debt buyback and swap terminations (4 ) 7 Noncontrolling interest 469 383 1,356 1,082 Earnings from continuing operations before income taxes $ 1,724 $ 1,155 $ 4,849 $ 3,583 Net sales of the Companys key products and product categories within business segments were as follows: ThreeMonthsEndedSeptember30, NineMonthsE

Note 4. Restructuring

Note 4. Restructuring
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
Note 4. Restructuring	Note 4. Restructuring The Companys productivity transformation initiative is designed to fundamentally change the way it runs its business to meet the challenges of a changing business environment, to take advantage of the diverse opportunities in the marketplace as the Company is transforming into a next-generation biopharmaceutical company, and to create a total of $2.5 billion in annual productivity cost savings and cost avoidance by 2012. In connection with the PTI, the Company aims to achieve a culture of continuous improvement to enhance its efficiency, effectiveness and competitiveness and to substantially improve its cost base. The charges associated with the PTI are estimated to be in the range of $1.3 billion to $1.6 billion, which includes $1.1 billion of costs already incurred. In addition, PTI also includes $231 million of gains related to the sale of mature product lines and businesses. The exact timing of the recognition of PTI charges cannot be predicted with certainty and will be affected by the existence of triggering events for expense recognition, among other factors. The Company recorded the following PTI charges: ThreeMonthsEndedSeptember30, NineMonthsEndedSeptember30, Dollars in Millions 2009 2008 2009 2008 Provision for restructuring, net $ 54 $ 26 $ 101 $ 67 Accelerated depreciation, asset impairment and other shutdown costs 30 53 80 207 Pension curtailment charge (Note 19) 25 Process standardization implementation costs 21 28 65 64 Gain on sale of product lines, businesses and assets (17 ) (72 ) (9 ) Total $ 88 $ 107 $ 199 $ 329 Most of the accelerated depreciation, asset impairment charges and other shutdown costs were included in cost of products sold and primarily relate to the rationalization of the Companys manufacturing network in the BioPharmaceuticals segment. These assets continue to be depreciated until the facility closures are complete. The remaining costs of PTI were primarily attributed to process standardization activities across the Company and are recognized as incurred. Restructuring charges included termination benefits for workforce reductions of manufacturing, selling, administrative, and research and development personnel across all geographic regions of approximately 232 and 310 for the three months ended September30, 2009 and 2008, respectively, and 587 and 680 for the nine months ended September30, 2009 and 2008, respectively. The following tables present the detail of expenses incurred in connection with the restructuring activities: ThreeMonthsEndedSeptember30,2009 ThreeMonthsEndedSeptember30,2008 Dollars in Millions Termination Benefits OtherExit Costs Total Termination Benefits OtherExit Costs Total Charges $ 49 $ 3 $ 52 $ 24 $ 1 $ 25 Changes in estimates 2 2 1 1 Provision for restructuring, net

Note 5. Medarex, Inc. Acquisiti

Note 5. Medarex, Inc. Acquisition
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
Note 5. Medarex, Inc. Acquisition	Note 5. Medarex, Inc. Acquisition On September1, 2009 the Company acquired 100% of the remaining outstanding shares of Medarex, Inc. (Medarex) and its outstanding stock options and restricted stock units upon completion of tender offers that expired on August27, 2009 and September1, 2009. The total purchase price of $2.3 billion was allocated to the estimated fair value of the assets acquired and liabilities assumed as presented below. Acquisition costs were $11 million and classified as other (income)/expenses, net. Medarex is a biopharmaceutical company focused on the discovery, development and commercialization of fully human antibody-based therapeutic products to address major unmet healthcare needs in the areas of oncology, inflammation, autoimmune disorders and infectious diseases. As a result of the acquisition, the Company receives full rights over ipilimumab, currently in Phase III development, and increases the biologics development pipeline creating a more balanced portfolio of small molecules and biologics. This more balanced portfolio associated with our BioPharma model and potential to optimize our existing ipilimumab programs drives a significant amount of the goodwill arising from this acquisition. Goodwill along with in-process research and development and other intangible assets valued in this acquisition are non-deductible for tax purposes and is assigned to the biopharmaceutical segment. The purchase price allocation presented below is considered preliminary pending completion of the final valuation. DollarsinMillions Purchase price: Cash $ 2,285 Fair value of the Companys equity in Medarex held prior to acquisition(1) 46 Total purchase price 2,331 Identifiable net assets: Cash 53 Marketable Securities 269 Other current and long-term assets(2) 133 In-process research and development(3) 1,252 Intangible assets - Technology(4) 120 Intangible assets - Licenses(5) 320 Short-term borrowings (Note 21) (91 ) Other current and long-term liabilities (92 ) Deferred income taxes, net (281 ) Total identifiable net assets 1,683 Goodwill 648 (1) Income of approximately $21 million was recognized from the re-measurement to fair value of our previous equity interest in Medarex of approximately 2.0% held before the acquisition and is included in other income for the three and nine months ended September30, 2009. (2) Includes a 5.1% ownership interest in Genmab ($64 million) and an 18.7% ownership in Celldex Therapeutics, Inc. ($17 million), both of which are publicly traded securities and are accounted for by the Company as available for sale investments. (3) Includes approximately $1.0 billion related to ipilimumab. (4) Amortized over 10 years. (5) Amortized over 13 years. The results of Medarex operations have been included in the accompanying consolidated financial statements from August27, 2009. Pro forma supplemental financial information was not included as the impact of the acquisition was not mate

Note 6. Mead Johnson Nutrition

Note 6. Mead Johnson Nutrition Company Initial Public Offering
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
Note 6. Mead Johnson Nutrition Company Initial Public Offering	Note 6. Mead Johnson Nutrition Company Initial Public Offering In February 2009, Mead Johnson Nutrition Company completed an initial public offering (IPO), in which it sold 34.5million shares of its ClassA common stock at $24 per share. The net proceeds, after deducting $46 million of underwriting discounts, commissions and offering expenses, were $782 million, which were allocated to noncontrolling interest and capital in excess of par value of stock within the Companys equity. Upon completion of the IPO, the Company held 42.3million shares of Mead Johnson ClassA common stock and 127.7million shares of Mead Johnson Class B common stock, representing an 83.1% interest in Mead Johnson and 97.5% of the combined voting power of the outstanding common stock. The rights of the holders of the shares of ClassA common stock and Class B common stock are identical, except with regard to voting and conversion. Each share of ClassA common stock is entitled to one vote per share. Each share of Class B common stock is entitled to ten votes per share and is convertible at any time at the election of the holder into one share of ClassA common stock. The Class B common stock will automatically convert into shares of ClassA common stock in certain circumstances. Mead Johnson continues to be consolidated for financial reporting purposes. The Company has entered into various agreements related to the separation of Mead Johnson, including a separation agreement, a transitional services agreement, a tax matters agreement, a registration rights agreement and an employee matters agreement.

Note 7. Discontinued Operations

Note 7. Discontinued Operations
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
Note 7. Discontinued Operations	Note 7. Discontinued Operations As discussed in our 2008 Annual Report on Form 10-K, the Company completed the divestitures of ConvaTec and Medical Imaging. The results of the ConvaTec and Medical Imaging businesses are included in net earnings from discontinued operations for the three months and nine months ended September30, 2008. The Medical Imaging business divestiture was completed in the first quarter of 2008, resulting in a pre-tax gain of $25 million (after-tax loss of $43 million). The ConvaTec business divestiture was completed in the third quarter of 2008, resulting in a pre-tax gain of $3,394 million (after-tax gain of $1,982 million). The following summarized financial information related to the ConvaTec and Medical Imaging businesses has been segregated from continuing operations in 2008 and reported as discontinued operations through the date of disposition and does not reflect the costs of certain services provided to ConvaTec and Medical Imaging by the Company. These costs were not allocated by the Company to ConvaTec and Medical Imaging and were for services that included legal counsel, insurance, external audit fees, payroll processing, certain human resource services and information technology systems support. ThreeMonthsEndedSeptember30,2008 NineMonthsEndedSeptember30,2008 Dollars in Millions ConvaTec Medical Imaging Total ConvaTec Medical Imaging Total Net sales $ 120 $ 7 $ 127 $ 732 $ 33 $ 765 Earnings (loss) before income taxes $ 28 $ (13 ) $ 15 $ 194 $ (8 ) $ 186 Curtailment losses and special termination benefits 2 2 18 18 Provision (benefit) for income taxes 8 (3 ) 5 63 (2 ) 61 Earnings (loss), net of taxes $ 18 $ (10 ) $ 8 $ 113 $ (6 ) $ 107 The consolidated statements of cash flows include the ConvaTec and Medical Imaging businesses through the date of disposition. The Company uses a centralized approach for cash management and financing of its operations; as such, debt was not allocated to these businesses.

Note 8. Earnings Per Share

Note 8. Earnings Per Share
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
Note 8. Earnings Per Share	Note 8. Earnings Per Share The numerator for basic earnings per share is net earnings attributable to shareholders reduced by dividends and undistributed earnings attributable to unvested shares. The numerator for diluted earnings per share is net earnings attributable to shareholders with interest expense added back for the assumed conversion of the convertible debt into common stock and reduced by dividends and undistributed earnings attributable to unvested shares. The denominator for basic earnings per share is the weighted-average number of common stock outstanding during the period. The denominator for diluted earnings per share is the weighted-average shares outstanding adjusted for the effect of dilutive common share equivalents and contingently convertible debt into common stock. The computations for basic and diluted earnings per common share were as follows: ThreeMonthsEndedSeptember30, NineMonthsEndedSeptember30, Amounts in Millions, Except Per Share Data 2009 2008 2009 2008 Basic: Net Earnings from Continuing Operations $ 1,290 $ 847 $ 3,509 $ 2,687 Less Net Earnings Attributable to Noncontrolling Interest (324 ) (259 ) (922 ) (730 ) Net Earnings from Continuing Operations Attributable to Bristol-Myers Squibb Company 966 588 2,587 1,957 Dividends and undistributed earnings attributable to unvested shares (5 ) (3 ) (14 ) (9 ) Net Earnings from Continuing Operations Attributable to Bristol-Myers Squibb Company used for Basic Earnings per Common Share Calculation 961 585 2,573 1,948 Discontinued Operations: Net Earnings from Discontinued Operations 1,990 2,046 Dividends and undistributed earnings attributable to unvested shares (10 ) (10 ) Net Earnings from Discontinued Operations Attributable to Bristol-Myers Squibb Company used for Basic Earnings per Common Share Calculation 961 1,980 2,573 2,036 Net Earnings Attributable to Bristol-Myers Squibb Company $ 961 $ 2,565 $ 2,573 $ 3,984 Basic Earnings Per Share: Average Common Shares Outstanding Basic 1,980 1,977 1,979 1,976 Net Earnings from Continuing Operations Attributable to Bristol-Myers Squibb Company per Common Share $ 0.49 $ 0.30 $ 1.30 $ 0.99 Net Earnings from Discontinued Operations per Common Share 1.00 1.03 Net Earnings Attributable to Bristol-Myers Squibb Company per Common Share $ 0.49 $ 1.30 $ 1.30 $ 2.02 Diluted: Net Earnings from Continuing Operations $ 1,290 $ 847 $ 3,509 $ 2,687 Less Net Earnings Attribu

Expense, Net

Expense, Net
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
Note 9. Other (Income)/Expense, Net	Note 9. Other (Income)/Expense, Net The components of other (income)/expense, net were as follows: ThreeMonthsEndedSeptember30, NineMonthsEndedSeptember30, Dollars in Millions 2009 2008 2009 2008 Interest expense $ 47 $ 84 $ 141 $ 237 Interest income (13 ) (37 ) (40 ) (111 ) Loss/(Gain) on debt buyback and termination of interest rate swap agreements 4 (7 ) ARS impairment charge (Note 11) 224 247 Foreign exchange transaction losses/(gains) 13 (51 ) 17 (34 ) Gain on sale of product lines, businesses and assets (17 ) (84 ) (9 ) Medarex acquisition (Note 5) (10 ) (10 ) Net royalty income and amortization of upfront and milestone payments received from alliance partners (Note 2) (50 ) (42 ) (119 ) (124 ) Pension curtailment charge (Note 19) 25 Other, net (4 ) (9 ) (53 ) (18 ) Other (income)/expense, net $ (30 ) $ 169 $ (130 ) $ 188 Interest expense was reduced by $32 million and $17 million for the three months ended September30, 2009 and 2008, respectively, and $85 million and $39 million for the nine months ended September30, 2009 and 2008, respectively, from the effects of interest rate swaps. In addition, interest expense was further reduced by $6 million and less than $1 million for the three months ended September30, 2009 and 2008, respectively, and $18 million and less than $1 million for the nine months ended September30, 2009 and 2008, respectively, from the termination of interest rate swaps during 2009 and 2008. See Note 22. Financial Instruments for additional discussion on terminated swap contracts. Interest income relates primarily to interest earned on cash, cash equivalents and investments in marketable securities. Foreign exchange transaction losses/(gains) were primarily due to a weakening U.S. dollar impact on non-qualifying foreign exchange hedges, discontinued hedges and the re-measurement of non-functional currency denominated transactions. Gain on sale of product lines, businesses and assets were primarily related to the sale of mature brands, including the Pakistan and other middle eastern businesses in 2009 and sales of various trademarks. Other, net includes gains and losses on the sale of property, plant and equipment, certain litigation charges/recoveries, and ConvaTec and Medical Imaging net transitional service fees.

Note 10. Income Taxes

Note 10. Income Taxes
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
Note 10. Income Taxes	Note 10. Income Taxes The effective income tax rate on earnings from continuing operations before income taxes was 25.2% and 27.6% for the three and nine months ended September30, 2009, respectively, compared to 26.7% and 25.0% for the three and nine months ended September30, 2008, respectively. The 1.5% lower effective tax rate in the three months ended September30, 2009 was due to the impairment of auction rate security notes with little tax benefit in 2008 and the benefit of the research and development credit in 2009 partially offset by the tax effect of the Mead Johnson separation activities discussed below. The 2.6% higher effective tax rate in the nine months ended September30, 2009 was due to the transfer of various international units of the Company to Mead Johnson prior to its initial public offering and a 2008 tax benefit of $91 million related to the effective settlement of the 20022003 audit with the Internal Revenue Service. The effect of these items were partially offset by the 2009 benefit of the research credit and a $40 million tax benefit related to the final settlement of certain state audits as well as the 2008 impairment of auction rate securities with little tax benefit. U.S. income taxes have not been provided on the earnings of certain low tax non-U.S. subsidiaries that are not projected to be distributed since the Company has invested or expects to invest such earnings permanently offshore. If, in the future, these earnings are repatriated to the U.S., or if the Company determines such earnings will be remitted in the foreseeable future, additional tax provisions would be required. President Obamas Administration has proposed reforms to the international tax laws that if adopted may increase taxes and reduce the Companys results of operations and cash flows. The Company has recorded significant deferred tax assets related to U.S. foreign tax credit and research and development tax credit carryforwards. The foreign tax credit and research and development tax credit carryforwards expire in varying amounts beginning in 2014. Realization of foreign tax credit and research tax credit carryforwards is dependent on generating sufficient domestic-sourced taxable income prior to their expiration.Although realization is not assured, management believes it is more likely than not that these deferred tax assets will be realized. The Company will continue to file a U.S. consolidated federal tax return and various state combined tax returns with Mead Johnson. As part of the initial public offering of Mead Johnson, a tax sharing agreement was put in place between the Company and Mead Johnson. Mead Johnson will make payments to the Company on a quarterly basis for its tax liability for U.S. federal purposes and various state purposes computed as a stand alone entity. These payments represent either Mead Johnsons share of the tax liability or reimbursement to the Company for utilization of certain tax attributes. The Company has agreed to indemnify Mead Johnson for any outstanding tax liabilities or audit exposures (such as, income, sales and use, or property taxes) that existed for periods prior to the initial public of

Note 11. Fair Value Measurement

Note 11. Fair Value Measurement
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
Note 11. Fair Value Measurement	Note 11. Fair Value Measurement Financial assets and liabilities carried at fair value at September30, 2009 are classified in one of the three categories, which are described below: Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for identical assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs. Level 2: Observable prices that are based on inputs not quoted on active markets, but corroborated by market data. Level 3: Unobservable inputs are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs. Dollars in Millions Level1 Level 2 Level3 Total Available for Sale: U.S. Government Agency Securities $ 500 $ $ $ 500 U.S. Treasury Bills 25 25 Equity Securities 79 79 Prime Money Market Funds 2,782 2,782 U.S. Treasury Money Market Funds 716 716 U.S. Government Agency Money Market Funds 679 679 Corporate Debt Securities 624 624 FDIC Insured Debt Securities 201 201 Floating Rate Securities 108 108 Auction Rate Securities 94 94 Total available for sale assets 604 5,002 202 5,808 Derivatives: Interest Rate Swap Derivatives 299 299 Foreign Exchange Derivatives 4 4 Total derivative assets 303 303 Total assets at fair value $ 604 $ 5,305 $ 202 $ 6,111 Dollars in Millions Level 1 Level 2 Level 3 Total Derivatives: Foreign Exchange Derivatives $ $ 75 $ $ 75 Interest Rate Swap Derivatives 3 3 Natural Gas Contracts 3 3 Total derivative liabilities 81 81 Total liabilities at fair value $ $ 81 $ $ 81 At September30, 2009, the majority of the Companys ARS are primarily rated BBB/Baa1 or better; however, $14 million in ARS are rated below investment grade at BB/Caa2. ARS primarily represent interests in insurance securitizations and, to a lesser extent, structured credits. Due to the lack of observable market quotes on the Companys ARS portfolio, the Company utilizes valuation models that rely exclusively on Level 3 inputs, including those that are based on expected cash flow streams and collateral values including assessments of counterparty credit quality, default risk underlying the security, discount rates and overall capital market liquidity. The valuation of the Companys ARS investment portfolio is subject to uncertainties that are difficult to predict. Factors that may impact the Companys valuation include changes to credit ratings of the securities as well as to the underlying asset

Note 12. Cash, Cash Equivalents

Note 12. Cash, Cash Equivalents and Marketable Securities
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
Note 12. Cash, Cash Equivalents and Marketable Securities	Note 12. Cash, Cash Equivalents and Marketable Securities Cash and cash equivalents at September30, 2009 and December31, 2008 of $6,367 million and $7,976 million, respectively, primarily consisted of prime money market funds, government agency securities and treasury securities. Cash equivalents primarily consist of highly liquid investments with original maturities of three months or less at the time of purchase and are recorded at cost, which approximates fair value. The Company maintains cash and cash equivalent balances in U.S. dollars and foreign currencies, which are subject to currency rate risk. The following tables summarize the Companys current and non-current marketable securities, which include U.S. dollar-denominated FRS and ARS, and are accounted for as available for sale debt securities: September30, 2009 December31, 2008 Dollars in Millions Cost Fair Value Carrying Value Unrealized (Loss)/Gainin Accumulated OCI Cost Fair Value Carrying Value Unrealized (Loss)/Gainin Accumulated OCI Current marketable securities: U.S. government agency securities $ 275 $ 275 $ 275 $ $ $ $ $ U.S. Treasury Bills 25 25 25 179 180 180 1 Floating rate securities 2 2 2 115 109 109 (6 ) Total current $ 302 $ 302 $ 302 $ $ 294 $ 289 $ 289 $ (5 ) Non-current marketable securities: Corporate debt securities $ 622 $ 624 $ 624 $ 2 $ $ $ $ FDIC insured debt securities 200 201 201 1 U.S. government agency securities 175 175 175 Auction rate securities 169 94 94 169 94 94 Floating rate securities 121 106 106 (15 ) 139 94 94 (45 ) Other 2 2 2 Total non-current $ 1,289 $ 1,202 $ 1,202 $ (12 ) $ 308 $ 188 $ 188 $ (45 ) Other assets: Equity securities(1) $ 88 $ 79 $ 79 $ (9 ) $ 31 $ 21 $ 21 $ (10 ) (1) Includes investments in Genmab ($64 million) and Celldex Therapeutics, Inc. ($17 million) acquired in September 2009. See Note 5. Medarex Inc., Acquisition. The following table summarizes the activity for those financial assets where fair value measurements are estimated utilizing Level 3 inputs (ARS and FRS): 2009 2008 Current Non-current Current Non-current Dollars in Millions FRS FRS ARS Total FRS FRS ARS Total Carrying value at January1 $ 10

Note 13. Receivables, Net

Note 13. Receivables, Net
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
Note 13. Receivables, Net	Note 13. Receivables, Net The major categories of receivables were as follows: Dollars in Millions September30, 2009 December31, 2008 Trade receivables $ 2,482 $ 2,545 Alliance partners receivables 874 804 Income tax refund claims 124 64 Miscellaneous receivables 346 359 3,826 3,772 Less allowances 127 128 Receivables, net $ 3,699 $ 3,644 Receivables are netted with deferred income related to alliance partners until recognition of income. As a result, a corresponding reclassification was made which reduced alliance partner receivables and deferred income by $662 million and $566 million at September30, 2009 and December31, 2008, respectively. For additional information on the Companys alliance partners, see Note 2. Alliances and Collaborations. In the aggregate, receivables due from three pharmaceutical wholesalers in the U.S. represented 40% and 35% of total trade receivables at September30, 2009 and December31, 2008, respectively.

Note 14. Inventories, Net

Note 14. Inventories, Net
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
Note 14. Inventories, Net	Note 14. Inventories, Net The major categories of inventories were as follows: Dollars in Millions September30, 2009 December31, 2008 Finished goods $ 732 $ 707 Work in process 684 738 Raw and packaging materials 408 320 Inventories, net $ 1,824 $ 1,765 Inventories expected to remain on-hand beyond one year were $266 million at September30, 2009 and $185 million at December31, 2008 and were included in non-current other assets. Inventories include capitalized costs related to production of products for programs in Phase III development subject to final U.S. Food and Drug Administration approval. The probability of future sales, as well as the status of the regulatory approval process was considered in assessing the recoverability of these costs. These capitalized costs were $36 million and $47 million at September30, 2009 and December31, 2008, respectively.

Note 15. Property, Plant and Eq

Note 15. Property, Plant and Equipment, Net
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
Note 15. Property, Plant and Equipment, Net	Note 15. Property, Plant and Equipment, Net The major categories of property, plant and equipment were as follows: Dollars in Millions September30, 2009 December31, 2008 Land $ 208 $ 149 Buildings 4,657 4,506 Machinery, equipment and fixtures 4,191 4,007 Construction in progress 848 787 Total property, plant and equipment 9,904 9,449 Less accumulated depreciation 4,343 4,044 Property, plant and equipment, net $ 5,561 $ 5,405 Capitalized interest was $10 million and $16 million for the nine months ended September30, 2009 and 2008, respectively.

Note 16. Accrued Expenses

Note 16. Accrued Expenses
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
Note 16. Accrued Expenses	Note 16. Accrued Expenses The major categories of accrued expenses were as follows: Dollars in Millions September30, 2009 December31, 2008 Employee compensation and benefits $ 668 $ 784 Royalties 551 515 Accrued research and development 505 466 Restructuringcurrent 159 158 Pension and postretirement benefits 84 90 Other 1,021 923 Total accrued expenses $ 2,988 $ 2,936

Note 17. Goodwill and Other Int

Note 17. Goodwill and Other Intangible Assets
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
Note 17. Goodwill and Other Intangible Assets	Note 17. Goodwill and Other Intangible Assets The changes in the carrying amount of goodwill by segment for the nine months ended September30, 2009 were as follows: Dollars in Millions BioPharmaceuticals Segment MeadJohnson Segment Total Balance at January1, 2009 $ 4,710 $ 117 $ 4,827 Acquisition of Medarex (Note 5) 648 648 Balance at September30, 2009 $ 5,358 $ 117 $ 5,475 At September30, 2009 and December31, 2008, other intangible assets consisted of the following: September30, 2009 December31, 2008 Dollars in Millions Gross Carrying Amount Accumulated Amortization Identifiable Intangible Assets, less Accumulated Amortization Gross Carrying Amount Accumulated Amortization Identifiable Intangible Assets, less Accumulated Amortization Finite-lived intangible assets: Patents/Trademarks $ 137 $ 93 $ 44 $ 156 $ 103 $ 53 Licenses 973 285 688 650 250 400 Technology 1,227 781 446 1,107 704 403 Capitalized software 1,094 798 296 1,040 745 295 Total $ 3,431 $ 1,957 $ 1,474 $ 2,953 $ 1,802 $ 1,151 Indefinite-lived intangible assets: In-process research and development (Note 5) $ 1,252 $ $ 1,252 $ $ $ Total identifiable intangible assets $ 4,683 $ 1,957 $ 2,726 $ 2,953 $ 1,802 $ 1,151 The change in the carrying amount of other intangible assets for the nine months periods ended September30, 2009 and 2008 were as follows: TotalOtherIntangibleAssets Dollars in Millions 2009 2008 Balance at the beginning of period $ 1,151 $ 1,330 Additions 59 90 Acquisition of Medarex (Note 5) 1,692 Amortization (177 ) (187 ) Sale of ConvaTec (20 ) Other 1 (1 ) Other intangible assets, net carrying amount at September30 $ 2,726 $ 1,212 Amortization expense for other intangible assets related to ConvaTec and Medical Imaging reflected in discontinued operations was $4 million in 2008. Expected amortization expense related to the September30, 2009 net carrying amount of finite lived other intangible assets follows: Years Ending December31, DollarsinMillions 2009 (three months) $ 64 2010 264 2011 254 2012 217 2013 135 Later Years 540

Note 18. Equity

Note 18. Equity
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
Note 18. Equity	Note 18. Equity Changes in common shares, treasury stock, capital in excess of par value of stock and restricted stock were as follows: Dollars and Shares in Millions CommonShares Issued Treasury Stock Cost ofTreasury Stock CapitalinExcess of Par Value of Stock Restricted Stock Balance at January1, 2008 2,205 226 $ (10,584 ) $ 2,722 $ (97 ) Employee stock compensation plans 13 78 20 Balance at September30, 2008 2,205 226 $ (10,571 ) $ 2,800 $ (77 ) Balance at January1, 2009 2,205 226 $ (10,566 ) $ 2,828 $ (71 ) Mead Johnson initial public offering 942 Adjustments to the Mead Johnson net asset transfer (7 ) Employee stock compensation plans (2 ) 62 45 (4 ) Balance at September30, 2009 2,205 224 $ (10,504 ) $ 3,808 $ (75 ) The accumulated balances related to each component of other comprehensive income/(loss) (OCI), net of taxes, were as follows: Dollars in Millions Foreign Currency Translation Derivatives Qualifying as Effective Hedges Pension and Other Postretirement Benefits Available for Sale Securities Accumulated Other Comprehensive Income/(Loss) Balance at January1, 2008 $ (325 ) $ (37 ) $ (973 ) $ (126 ) $ (1,461 ) Other comprehensive income/(loss) (23 ) 36 70 25 108 Balance at September30, 2008 $ (348 ) $ (1 ) $ (903 ) $ (101 ) $ (1,353 ) Balance at January1, 2009 $ (424 ) $ 14 $ (2,258 ) $ (51 ) $ (2,719 ) Other comprehensive income/(loss) 64 (80 ) 482 35 501 Balance at September30, 2009 $ (360 ) $ (66 ) $ (1,776 ) $ (16 ) $ (2,218 ) The reconciliation of noncontrolling interest was as follows: ThreeMonthsEndedSeptember30, NineMonthsEndedSeptember30, Dollars in Millions 2009 2008 2009 2008 Balance at beginning of period $ (160 ) $ (12 ) $ (33 ) $ (27 ) Mead Johnson initial public offering (160 ) Adjustments to the Mead Johnson net asset transfer 7 7 Net earnings attributable to noncontrolling interest 467 383 1,331 1,082 Other comprehensive income attributable to noncontrolling interest 2 7 Distributions (463 ) (376 ) (1,299 ) (1,060 ) Balance at September30 $ (147 ) $ (5 ) $ (147 ) $ (5 ) Noncontrolling interest is primarily related to the Companys partnerships with sanofi for the territory covering the Amer

Note 19. Pension, Postretiremen

Note 19. Pension, Postretirement and Postemployment Liabilities
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
Note 19. Pension, Postretirement and Postemployment Liabilities	Note 19. Pension, Postretirement and Postemployment Liabilities The net periodic benefit cost of the Companys defined benefit pension and postretirement benefit plans included the following components: ThreeMonthsEndedSeptember30, NineMonthsEndedSeptember30, Pension Benefits OtherBenefits Pension Benefits OtherBenefits Dollars in Millions 2009 2008 2009 2008 2009 2008 2009 2008 Service cost benefits earned during the period $ 28 $ 55 $ 2 $ 2 $ 135 $ 174 $ 5 $ 6 Interest cost on projected benefit obligation 92 98 9 9 285 294 28 29 Expected return on plan assets (105 ) (118 ) (5 ) (7 ) (338 ) (354 ) (15 ) (21 ) Amortization of prior service cost/(credit) 3 (1 ) (1 ) 4 8 (3 ) (3 ) Amortization of net actuarial loss 15 24 2 1 85 73 7 4 Net periodic benefit cost 30 62 7 4 171 195 22 15 Curtailments and special termination benefits 2 (1 ) 25 18 (1 ) Total net periodic benefit cost $ 30 $ 64 $ 7 $ 3 $ 196 $ 213 $ 22 $ 14 During June 2009, the Company amended its U.S. Retirement Income Plan (and several other plans) whereby, effective December31, 2009, the crediting of future benefits relating to service will be eliminated. The Company will continue to consider salary increases for an additional five-year period in determining the benefit obligation related to prior service. The plan amendment was accounted for as a curtailment. As a result, the Company re-measured the applicable plan assets and obligations. The re-measurement resulted in a $455 million reduction to accumulated OCI ($295 million net of taxes) and a corresponding decrease to the unfunded status of the plan due to the curtailment, updated plan asset valuations and a change in the discount rate from 7.0% to 7.5%. A curtailment charge of $25 million was also recognized in other (income)/expense, net during the second quarter of 2009 for the remaining amount of unrecognized prior service cost. In addition, the Company has reclassified all participants as inactive for benefit plan purposes and will amortize actuarial gains and losses over the expected weighted-average remaining lives of plan participants (32 years). In connection with the plan amendment, the Company will also increase its expected contributions to its principal defined contribution plans in the U.S. and Puerto Rico effective January1, 2010. The net impact of the above actions is expected to reduce the future retiree benefit costs, although future costs will continue to be subject to market conditions and other factors including actual and expected plan asset performance, interest

Note 20. Employee Stock Benefit

Note 20. Employee Stock Benefit Plans
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
Note 20. Employee Stock Benefit Plans	Note 20. Employee Stock Benefit Plans The following table summarizes stock-based compensation expense, net of taxes: ThreeMonthsEndedSeptember30, NineMonthsEndedSeptember30, Dollars in Millions 2009 2008 2009 2008 Stock options $ 18 $ 17 $ 54 $ 56 Restricted stock 20 21 55 61 Long-term performance awards 4 6 21 15 Total stock-based compensation expense 42 44 130 132 Less tax benefit (13 ) (14 ) (42 ) (43 ) Stock-based compensation expense, net of taxes $ 29 $ 30 $ 88 $ 89 In the nine months ended September30, 2009, the Company granted 23.8million stock options, 6.3million restricted stock units and 1.6million long-term performance awards. The weighted-average grant date fair value of stock options granted was $3.70 per share. The weighted-average grant date fair value for restricted stock and long-term performance awards granted during the nine months ended September30, 2009 was $17.97 and $16.52, respectively. Total compensation costs, related to nonvested awards not yet recognized and the weighted-average period over which such awards are expected to be recognized at September30, 2009 were as follows: Dollars in Millions StockOptions RestrictedStock Long-Term Performance Awards Unrecognized compensation cost $ 121 $ 191 $ 29 Expected weighted-average period of compensation cost to be recognized 2.4years 2.8years 1.4years

Note 21. Short-Term Borrowings

Note 21. Short-Term Borrowings and Long-Term Debt
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
Note 21. Short-Term Borrowings and Long-Term Debt	Note 21. Short-Term Borrowings and Long-Term Debt Short-term borrowings were $286 million and $154 million at September30, 2009 and December31, 2008, respectively, and consist primarily of outstanding bank drafts. As part of the Medarex, Inc. acquisition in September 2009 (see Note 5. Medarex, Inc. Acquisition,), the Companys consolidated financial statements now reflect Medarexs outstanding 2.25% Convertible Senior Notes due May15, 2011 (the 2.25% Notes). These notes, originally convertible into Medarex shares at the rate of $72.9129 per each $1,000 principal amount ($13.72 per share), were adjusted into the right to receive $1,167 in cash for each $1,000 principal amount outstanding (the equivalent of $16 per share). Short-term borrowings include $88 million related to these notes as of September30, 2009. As of September30, 2009, the 1.81% Yen Notes due 2010 amounting to $38 million were reclassified to short-term borrowings. The components of long-term debt were as follows: Dollars in Millions September30, 2009 December31, 2008 Principal Value 6.125% Notes due 2038 $ 1,000 $ 1,000 5.875% Notes due 2036 960 1,023 4.375% Euro Notes due 2016 734 698 4.625% Euro Notes due 2021 734 698 5.45% Notes due 2018 600 600 5.25% Notes due 2013 597 597 6.80% Debentures due 2026 332 350 7.15% Debentures due 2023 304 339 6.88% Debentures due 2097 287 287 Floating Rate Convertible Senior Debentures due 2023 50 50 5.75% Industrial Revenue Bonds due 2024 35 35 1.81% Yen Notes due 2010 39 Variable Rate Industrial Revenue Bonds due 2030 15 15 Other 8 6 Subtotal $ 5,656 $ 5,737 Adjustments to Principal Value Fair value of interest rate swaps $ 296 $ 647 Unamortized basis adjustment from swap terminations 384 233 Unamortized bond discounts (29 ) (32 ) Total $ 6,307 $ 6,585 The increase in the Euro Notes due 2016 and 2021 was due to the U.S. dollar weakening as of September30, 2009 from December31, 2008. In the third quarter of 2009, the Company repurchased approximately $35 million principal amount of its 7.15% Notes due 2023 and $18 million of its 6.8% Notes due 2026 for $44 million and $21 million, respectively. The loss attributed to the transactions amounted to $4 million, which also included the termination of approximately $18 million notional amount of fixed-to-floating interest rate swaps associated with the 7.15% Notes due 2023 for proceeds of $3 million. In June 2009, the Company repurchased approximately $63 million principal amount of its 5.875% Notes due 2036 for $67 million. The total gain attributed to this transaction amounted to $11 million, which also included the termination of approximately $35 million notional amount of fixed-to-floating interest rate swaps for proceeds of $5 million. In June 2009, the Company executed several fixed-to-floating int

Note 22. Financial Instruments

Note 22. Financial Instruments
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
Note 22. Financial Instruments	Note 22. Financial Instruments The Company is exposed to market risk due to changes in currency exchange rates, interest rates and to a lesser extent natural gas pricing. To reduce that risk, the Company enters into certain derivative financial instruments, when available on a cost-effective basis, to hedge its underlying economic exposure. Derivative financial instruments are not used for speculative purposes. Cash Flow Hedges Foreign Exchange contracts The Company utilizes foreign currency contracts to hedge forecasted transactions, primarily intercompany transactions, on certain foreign currencies and designates these derivative instruments as foreign currency cash flow hedges when appropriate. The notional and fair value amounts of the Companys foreign exchange derivative contracts at September30, 2009 and December31, 2008 were $1,351 million and $70 million net liabilities and $1,151 million and $49 million net assets, respectively. For these derivatives, the majority of which qualify as hedges of probable forecasted cash flows, the effective portion of changes in fair value is temporarily reported in accumulated OCI and recognized in earnings when the hedged item affects earnings. At September30, 2009, the balance of deferred losses on foreign exchange forward contracts that qualified for cash flow hedge accounting included in accumulated OCI on a pre-tax basis was $73 million ($46 million net of taxes), all of which is expected to be reclassified into earnings within the next 19 months. The Company assesses effectiveness at the inception of the hedge and on a quarterly basis. These assessments determine whether derivatives designated as qualifying hedges continue to be highly effective in offsetting changes in the cash flows of hedged items. Any ineffective portion of change in fair value is not deferred in accumulated OCI and is included in current period earnings. For the three and nine months ended September30, 2009, the impact of hedge ineffectiveness on earnings was not significant. The Company will discontinue cash flow hedge accounting when the forecasted transaction is no longer probable of occurring on the originally forecasted date, or 60 days thereafter, or when the hedge is no longer effective. For the three and nine months ended September30, 2009, the impact of discontinued foreign exchange hedges was a pre-tax loss of $5 million and $6 million, respectively, and was reported in other (income)/expense, net. Natural Gas contracts The Company utilizes forward contracts to hedge forecasted purchases of natural gas and designates these derivative instruments as cash flow hedges when appropriate. For these derivatives the effective portion of changes in fair value is temporarily reported in accumulated OCI and recognized in earnings when the hedged item affects earnings. The notional and fair value amounts of the Companys natural gas derivative contracts at September30, 2009 and December31, 2008 were 772thousand decatherms and $3 million liability and 3million decatherms and $7 million liability, respectively. At September30, 2009, the balance of deferred losses on natural gas forward contracts that qualified

Note 23. Legal Proceedings and

Note 23. Legal Proceedings and Contingencies
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
Note 23. Legal Proceedings and Contingencies	Note 23. Legal Proceedings and Contingencies Various lawsuits, claims, proceedings and investigations are pending involving the Company and certain of its subsidiaries. The Company records accruals for such contingencies when it is probable that a liability will be incurred and the amount of loss can be reasonably estimated. These matters involve antitrust, securities, patent infringement, pricing, sales and marketing practices, environmental, health and safety matters, consumer fraud, employment matters, product liability and insurance coverage. The most significant of these matters are described in Item 8. Financial StatementsNote 25. Legal Proceedings and Contingencies in the Companys 2008 Annual Report on Form 10-K. The following discussion is limited to certain recent developments related to these previously described matters, and certain new matters that have not previously been described in a prior report. Accordingly, the disclosure below should be read in conjunction with the Companys 2008 Annual Report on Form 10-K and Quarterly Reports on Form 10-Q for the quarters ended March31, 2009 and June30, 2009. Unless noted to the contrary, all matters described in those earlier reports remain outstanding and the status is consistent with what has previously been reported. There can be no assurance that there will not be an increase in the scope of pending matters or that any future lawsuits, claims, proceedings or investigations will not be material. INTELLECTUAL PROPERTY PLAVIX* Litigation PLAVIX* is currently the Companys largest product ranked by net sales. The PLAVIX* patents are subject to a number of challenges in the U.S., including the litigation with Apotex Inc. and Apotex Corp. (Apotex) described below, and in other less significant markets for the product. It is not possible reasonably to estimate the impact of these lawsuits on the Company. However, loss of market exclusivity of PLAVIX* and sustained generic competition in the U.S. would be material to the Companys sales of PLAVIX*, results of operations and cash flows, and could be material to the Companys financial condition and liquidity. The Company and its product partner, sanofi, (the Companies) intend to vigorously pursue enforcement of their patent rights in PLAVIX*. PLAVIX* Litigation U.S. Patent Infringement Litigation against Apotex and Related Matters As previously disclosed, the Companys U.S. territory partnership under its alliance with sanofi is a plaintiff in a pending patent infringement lawsuit instituted in the United States District Court for the Southern District of New York (District Court) entitled Sanofi-Synthelabo, Sanofi-Synthelabo, Inc. and Bristol-Myers Squibb Sanofi Pharmaceuticals Holding Partnership v. Apotex. The suit is based on U.S. Patent No.4,847,265 (the 265 Patent), a composition of matter patent, which discloses and claims, among other things, the hydrogen sulfate salt of clopidogrel, a medicine made available in the U.S. by the Companies as PLAVIX*. Also, as previously reported, the District Court upheld the validity and enforceability of the 265 Patent, maintaining the main patent protection for PLAVIX* in the U.S.

Document Information

Document Information
	9 Months Ended Sep. 30, 2009 USD / shares
Document Information [Text Block]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	2009-09-30

Entity Information

Entity Information (USD $)
	9 Months Ended Sep. 30, 2009
Entity [Text Block]
Trading Symbol	BMY
Entity Registrant Name	BRISTOL MYERS SQUIBB CO
Entity Central Index Key	0000014272
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	1,980,980,141