Abbott Laboratories (ABT) 10-Q 3 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2016shares
Document and Entity Information
Entity Registrant Name	ABBOTT LABORATORIES
Entity Central Index Key	1,800
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
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	1,469,995,415
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2

Condensed Consolidated Statemen

Condensed Consolidated Statement of Earnings - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Condensed Consolidated Statement of Earnings
Net Sales	$ 5,333	$ 5,170	$ 10,218	$ 10,067
Cost of products sold, excluding amortization of intangible assets	2,287	2,218	4,427	4,299
Amortization of Intangible Assets	145	151	289	307
Research and development	348	345	727	658
Selling, general and administrative	1,737	1,727	3,435	3,464
Total operating cost and expenses	4,517	4,441	8,878	8,728
Operating earnings	816	729	1,340	1,339
Interest expense	103	44	161	81
Interest (income)	(20)	(27)	(53)	(48)
Net foreign exchange loss (gain)	10	5	488	(49)
Other expense (income), net	8	(279)	27	(284)
Earnings from continuing operations before tax	715	986	717	1,639
Taxes on earnings from continuing operations	116	200	62	324
Earnings from continuing operations	599	786	655	1,315
Earnings (loss) from discontinued operations, net of tax	16	(1)	260	25
Gain (loss) on sale of discontinued operations, net of tax		(1)	16	1,736
Net earnings (loss) from discontinued operations, net of tax	16	(2)	276	1,761
Net Earnings	$ 615	$ 784	$ 931	$ 3,076
Basic Earnings Per Common Share -
Continuing operations (in dollars per share)	$ 0.40	$ 0.52	$ 0.44	$ 0.87
Discontinued operations (in dollars per share)	0.01		0.19	1.17
Net earnings (in dollars per share)	0.41	0.52	0.63	2.04
Diluted Earnings Per Common Share -
Continuing operations (in dollars per share)	0.40	0.52	0.44	0.87
Discontinued operations (in dollars per share)	0.01		0.19	1.16
Net earnings (in dollars per share)	0.41	0.52	0.63	2.03
Cash Dividends Declared Per Common Share	$ 0.26	$ 0.24	$ 0.52	$ 0.48
Average Number of Common Shares Outstanding Used for Basic Earnings Per Common Share (in shares)	1,474,504	1,493,771	1,476,161	1,500,285
Dilutive Common Stock Options (in shares)	5,988	10,444	6,165	10,676
Average Number of Common Shares Outstanding Plus Dilutive Common Stock Options (in shares)	1,480,492	1,504,215	1,482,326	1,510,961
Outstanding Common Stock Options Having No Dilutive Effect (in shares)	5,673	658	5,673	658

Condensed Consolidated Stateme3

Condensed Consolidated Statement of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Condensed Consolidated Statement of Comprehensive Income
Net Earnings	$ 615	$ 784	$ 931	$ 3,076
Foreign currency translation (loss) gain adjustments	(104)	84	317	(827)
Net actuarial gains (losses) and amortization of net actuarial (losses) and prior service (cost) and credits, net of taxes of $(12) and $(3) in 2016 and $10 and $25 in 2015	(47)	22	(29)	53
Unrealized gains (losses) on marketable equity securities, net of taxes of nil in 2016 and $256 and $344 in 2015	(213)	522	(756)	695
Net gains (losses) for derivative instruments designated as cash flow hedges and other, net of taxes of $(2) and $(24) in 2016 and $(6) and nil in 2015	(8)	(25)	(97)	1
Other comprehensive income (loss)	(372)	603	(565)	(78)
Comprehensive income	243	$ 1,387	366	$ 2,998
Supplemental Accumulated Other Comprehensive Income (Loss) Information, net of tax:
Cumulative foreign currency translation (loss) adjustments	(4,512)		(4,512)		$ (4,829)
Net actuarial (losses) and prior service cost and credits	(1,987)		(1,987)		(1,958)
Cumulative unrealized (losses) gains on marketable equity securities	(691)		(691)		65
Cumulative (losses) gains on derivative instruments designated as cash flow hedges and other	$ (33)		$ (33)		$ 64

Condensed Consolidated Stateme4

Condensed Consolidated Statement of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Condensed Consolidated Statement of Comprehensive Income
Net actuarial gains (losses) and amortization of net actuarial (losses) and prior service (cost) and credits, taxes	$ (12)	$ 10	$ (3)	$ 25
Unrealized (losses) gains on marketable equity securities, taxes	0	256	0	344
Net gains (losses) for derivative instruments designated as cash flow hedges and other, taxes	$ (2)	$ (6)	$ (24)	$ 0

Condensed Consolidated Balance

Condensed Consolidated Balance Sheet - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Current Assets:
Cash and cash equivalents	$ 2,578	$ 5,001
Short-term investments	1,860	1,124
Trade receivables, less allowances of $347 in 2016 and $337 in 2015	3,567	3,418
Inventories:
Finished products	1,865	1,744
Work in process	340	316
Materials	608	539
Total inventories	2,813	2,599
Prepaid expenses and other receivables	2,104	1,908
Current assets held for disposition	66	105
Total Current Assets	12,988	14,155
Investments	3,339	4,041
Property and Equipment, at Cost:
Property and equipment, at cost	12,712	12,383
Less: accumulated depreciation and amortization	6,886	6,653
Net property and equipment	5,826	5,730
Intangible assets, net of amortization	5,311	5,562
Goodwill	9,752	9,638
Deferred income taxes and other assets	2,613	2,119
Non-current assets held for disposition	2	2
Total Assets	39,831	41,247
Current Liabilities:
Short-term borrowings	2,892	3,127
Trade accounts payable	1,153	1,081
Salaries, wages and commissions	717	746
Other accrued liabilities	2,931	3,043
Dividends payable	383	383
Income taxes payable	232	430
Current portion of long-term debt	4	3
Current liabilities held for disposition	361	373
Total Current Liabilities	8,673	9,186
Long-term debt	6,016	5,871
Post-employment obligations, deferred income taxes and other long - term Liabilities	4,347	4,864
Commitments and Contingencies
Shareholders' Investment:
Preferred shares, one dollar par value Authorized - 1,000,000 shares, none issued
Common shares, without par value Authorized - 2,400,000,000 shares Issued at stated capital amount - Shares: 2016: 1,705,266,590; 2015: 1,702,017,390	12,835	12,734
Common shares held in treasury, at cost - Shares: 2016: 235,271,175; 2015: 229,352,338	(10,821)	(10,622)
Earnings employed in the business	25,884	25,757
Accumulated other comprehensive income (loss)	(7,223)	(6,658)
Total Abbott Shareholders' Investment	20,675	21,211
Noncontrolling Interests in Subsidiaries	120	115
Total Shareholders' Investment	20,795	21,326
Total Liabilities and Shareholders' Investment	$ 39,831	$ 41,247

Condensed Consolidated Balance6

Condensed Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Consolidated Balance Sheet
Trade receivables, allowances (in dollars)	$ 347	$ 337
Preferred shares, par value (in dollars per share)	$ 1	$ 1
Preferred shares, Authorized shares	1,000,000	1,000,000
Preferred shares, issued shares	0	0
Common shares, Authorized shares	2,400,000,000	2,400,000,000
Common shares, Issued shares	1,705,266,590	1,702,017,390
Common shares held in treasury, shares	235,271,175	229,352,338

Condensed Consolidated Stateme7

Condensed Consolidated Statement of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash Flow From (Used in) Operating Activities:
Net earnings	$ 931	$ 3,076
Adjustments to reconcile net earnings to net cash from operating activities -
Depreciation	405	416
Amortization of intangible assets	289	307
Share-based compensation	214	205
Impact of currency devaluation	477
Gain on sale of discontinued operations	(25)	(2,820)
Gain on sale of Mylan shares		(207)
Trade receivables	(150)	(125)
Inventories	(149)	(210)
Other, net	(1,176)	301
Net Cash From Operating Activities	816	943
Cash Flow From (Used in) Investing Activities:
Acquisitions of property and equipment	(490)	(451)
Proceeds from business disposition	25	230
Acquisitions of businesses and technologies, net of cash acquired	(7)	(4)
Proceeds from the sale of Mylan shares		2,290
Sales (Purchases) of other investment securities, net	(800)	(2,056)
Other	28	28
Net Cash (Used in) From Investing Activities	(1,244)	37
Cash Flow From (Used in) Financing Activities:
Net (repayments of) proceeds from issuance of short-term debt and other	(285)	(1,518)
Proceeds from the issuance of long-term debt		2,485
Repayments of long-term debt	(10)	(33)
Payment of debt issuance costs	(132)
Payment of contingent consideration	(25)
Purchases of common shares	(520)	(1,347)
Proceeds from stock options exercised, including income tax benefit	130	213
Dividends paid	(769)	(724)
Net Cash (Used in) Financing Activities	(1,611)	(924)
Effect of exchange rate changes on cash and cash equivalents	(384)	(71)
Net Decrease in Cash and Cash Equivalents	(2,423)	(15)
Cash and Cash Equivalents, Beginning of Year	5,001	4,063
Cash and Cash Equivalents, End of Period	$ 2,578	$ 4,048

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2016
Basis of Presentation
Basis of Presentation	Note 1 — Basis of Presentation The accompanying unaudited, condensed consolidated financial statements have been prepared pursuant to rules and regulations of the Securities and Exchange Commission and, therefore, do not include all information and footnote disclosures normally included in audited financial statements. However, in the opinion of management, all adjustments (which include only normal adjustments) necessary to present fairly the results of operations, financial position and cash flows have been made. It is suggested that these statements be read in conjunction with the financial statements included in Abbott’s Annual Report on Form 10-K for the year ended December 31, 2015. The consolidated financial statements include the accounts of the parent company and subsidiaries, after elimination of intercompany transactions.

Discontinued Operations

Discontinued Operations	6 Months Ended
	Jun. 30, 2016
Discontinued Operations.
Discontinued Operations	Note 2 — Discontinued Operations On February 27, 2015, Abbott completed the sale of its developed markets branded generics pharmaceuticals business to Mylan Inc. (Mylan) for 110 million shares (or approximately 22%) of a newly formed entity (Mylan N.V.) that combined Mylan’s existing business and Abbott’s developed markets branded generics pharmaceuticals business. Mylan N.V. is publicly traded. Historically, this business was included in Abbott’s Established Pharmaceutical Products segment. Abbott retained its branded generics pharmaceuticals business in emerging markets. At the date of closing, the 110 million Mylan N.V. shares that Abbott received were valued at $5.77 billion and Abbott recorded an after-tax gain on the sale of the business of approximately $1.6 billion. The shareholder agreement with Mylan N.V. includes voting and other restrictions that prevent Abbott from exercising significant influence over the operating and financial policies of Mylan N.V. At the close of this transaction, Abbott and Mylan entered into a transition services agreement pursuant to which Abbott and Mylan are providing various back office support services to each other on an interim transitional basis. Transition services may be provided for up to 2 years. Charges by Abbott under this transition services agreement are recorded as a reduction of the costs to provide the respective service in the applicable expense category in the Condensed Consolidated Statement of Earnings. This transition support does not constitute significant continuing involvement in Mylan’s operations. Abbott also entered into manufacturing supply agreements with Mylan related to certain products, with the supply term ranging from 3 to 10 years and requiring a 2 year notice prior to termination. The cash flows associated with these transition services and manufacturing supply agreements are not expected to be significant, and therefore, these cash flows are not direct cash flows of the disposed component under Accounting Standards Codification 205. In April 2015, Abbott sold 40.25 million of the 110 million ordinary shares of Mylan N.V. received in the sale of the developed markets branded generics pharmaceuticals business to Mylan. In the second quarter of 2015, Abbott recorded a pretax gain of $207 million on $2.29 billion in net proceeds from the sale of these shares. The gain was recognized in the Other (income) expense line of the Condensed Consolidated Statement of Earnings. As a result of this sale, Abbott’s ownership interest in Mylan N.V. decreased to approximately 14%. On February 10, 2015, Abbott completed the sale of its animal health business to Zoetis Inc. Abbott received cash proceeds of $230 million and reported an after-tax gain on the sale of approximately $130 million in the first quarter of 2015. In the first quarter of 2016, Abbott received an additional $25 million of proceeds related to the expiration of a holdback agreement associated with the sale of this business and reported an after-tax gain on the sale of discontinued operations of $16 million. As a result of the disposition of the above businesses, the operating results of these businesses up to the date of sale are reported as part of discontinued operations on the Earnings from Discontinued Operations, net of tax line in the Condensed Consolidated Statement of Earnings. The cash flows associated with the developed markets branded generics pharmaceuticals and animal health businesses up to the date of disposition are included in Abbott’s Condensed Consolidated Statement of Cash Flows. On January 1, 2013, Abbott completed the separation of AbbVie Inc. (AbbVie), which was formed to hold Abbott’s research-based proprietary pharmaceuticals business. For a small portion of AbbVie’s operations, the legal transfer of AbbVie’s assets (net of liabilities) did not occur with the separation of AbbVie on January 1, 2013 due to the time required to transfer marketing authorizations and other regulatory requirements in each of these countries. Under the terms of the separation agreement with Abbott, AbbVie is subject to the risks and entitled to the benefits generated by these operations and assets. The majority of these operations were transferred to AbbVie in 2013 and 2014. These assets and liabilities have been presented as held for disposition in the Condensed Consolidated Balance Sheet. Abbott has recorded a prepaid asset of $293 million for its obligation to transfer these net liabilities held for disposition to AbbVie. Abbott has retained all liabilities for all U.S. federal and foreign income taxes on income prior to the separation, as well as certain non-income related taxes attributable to AbbVie’s business prior to the separation. AbbVie generally will be liable for all other taxes attributable to its business. Net earnings from discontinued operations in the first six months of 2016 and 2015 reflect the recognition of $263 million and $17 million, respectively, of net tax benefits as a result of the resolution of various tax positions related to AbbVie’s operations for years prior to the separation. The following table summarizes the components of discontinued operations: Three Months Ended June 30 Six Months Ended June 30 (in millions) 2016 2015 2016 2015 Net Sales Developed markets generics pharmaceuticals and animal health businesses $ — $ — $ — $ AbbVie — — — — Total $ — $ — $ — $ Earnings (Loss) Before Tax Developed markets generics pharmaceuticals and animal health businesses $ ) $ ) $ ) $ AbbVie — — — — Total $ ) $ ) $ ) $ Income Tax Expense (Benefit) Developed markets generics pharmaceuticals and animal health businesses $ — $ — $ ) $ AbbVie ) ) ) ) Total $ ) $ ) $ ) $ ) Net Earnings (Loss) Developed markets generics pharmaceuticals and animal health businesses $ ) $ ) $ ) $ AbbVie Total $ $ ) $ $ The sale of the developed markets branded generics pharmaceuticals and animal health businesses in the first six months of 2015 resulted in the recognition of a pretax gain of $2.820 billion, tax expense of $1.084 billion and an after-tax gain of $1.736 billion. The assets and liabilities held for disposition as of June 30, 2016 and December 31, 2015, relate to the AbbVie businesses. The following is a summary of the assets and liabilities held for disposition: (in millions) June 30, 2016 December 31, 2015 Cash and Trade receivables, net $ $ Total inventories Prepaid expenses and other receivables Current assets held for disposition Net property and equipment Deferred income taxes and other assets Non-current assets held for disposition Total assets held for disposition $ $ Trade accounts payable $ $ Salaries, wages, commissions and other accrued liabilities Current liabilities held for disposition Post-employment obligations, deferred income taxes and other long-term liabilities — — Total liabilities held for disposition $ $

Supplemental Financial Informat

Supplemental Financial Information	6 Months Ended
	Jun. 30, 2016
Supplemental Financial Information
Supplemental Financial Information	Note 3 — Supplemental Financial Information Shares of unvested restricted stock that contain non-forfeitable rights to dividends are treated as participating securities and are included in the computation of earnings per share under the two-class method. Under the two-class method, net earnings are allocated between common shares and participating securities. Earnings from Continuing Operations allocated to common shares for the three months ended June 30, 2016 and 2015 were $597 million and $783 million, respectively and for the six months ended June 30, 2016 and 2015 were $652 million and $1.3 billion, respectively. Net earnings allocated to common shares for the three months ended June 30, 2016 and 2015 were $612 million and $780 million, respectively, and for the six months ended June 30, 2016 and 2015 were $927 million and $3.1 billion, respectively. Other (income) expense, net in the second quarter of 2015 primarily relates to a $207 million gain on the sale of a portion of Abbott’s position in Mylan stock and $79 million of income resulting from a decrease in the fair value of contingent consideration related to a business acquisition. In the second quarter of 2015, Abbott sold 40.3 million of the 110 million ordinary shares of Mylan N.V. received in the sale of the developed markets branded generics pharmaceuticals business to Mylan. Abbott received $2.29 billion in net proceeds from the sale of these shares. As a result of this sale, Abbott’s ownership interest in Mylan N.V. decreased from approximately 22% to approximately 14%. Other, net in Net cash from operating activities in the Condensed Consolidated Statement of Cash Flows for the first six months of 2016 and 2015 includes the effects of contributions to defined benefit plans of $524 million and $547 million, respectively, and to the post-employment medical and dental benefit plans of $9 million and $24 million, respectively. The first six months of 2016 also includes the non-cash impact of approximately $410 million of net tax benefits primarily associated with the resolution of various tax positions from prior years, as well as cash taxes paid of approximately $140 million related to the disposition of businesses. The first six months of 2015 includes the non-cash impact of approximately $1.1 billion of tax expense associated with the gain on the sale of businesses. The foreign currency loss related to Venezuela in the first six months of 2016 reduced Abbott’s cash by approximately $410 million and is shown on the Effect of exchange rate changes on cash and cash equivalents line within the Condensed Consolidated Statement of Cash Flows. Since January 2010, Venezuela has been designated as a highly inflationary economy under U.S. GAAP. In 2014 and 2015, the government of Venezuela operated multiple mechanisms to exchange bolivars into U.S. dollars. These mechanisms included the CENCOEX, SICAD, and SIMADI rates, which stood at 6.3, 13.5, and approximately 200, respectively, at December 31, 2015. In 2015, Abbott continued to use the CENCOEX rate of 6.3 Venezuelan bolivars to the U.S. dollar to report the results, financial position, and cash flows related to its operations in Venezuela since Abbott continued to qualify for this exchange rate to pay for the import of various products into Venezuela. On February 17, 2016, the Venezuelan government announced that the three-tier exchange rate system would be reduced to two rates renamed the DIPRO and DICOM rates. The DIPRO rate is the official rate for food and medicine imports and was adjusted from 6.3 to 10 bolivars per U.S. dollar. The DICOM rate is a floating market rate published daily by the Venezuelan central bank, which at the end of the first quarter of 2016 was approximately 263 bolivars per U.S. dollar. As a result of decreasing government approvals to convert bolivars to U.S. dollars to pay for intercompany accounts, as well as the accelerating deterioration of economic conditions in the country, Abbott concluded that it was appropriate to move to the DICOM rate at the end of the first quarter of 2016. As a result, Abbott recorded a foreign currency loss of $477 million in the first quarter of 2016 to revalue its net monetary assets in Venezuela. Abbott is continuing to use the DICOM rate to report the results of operations and to remeasure net monetary assets for Venezuela at the end of each quarter. As of June 30, 2016, Abbott’s Venezuelan operations represented approximately 0.1% of Abbott’s consolidated assets and any additional foreign currency losses related to Venezuela are not expected to be material. The components of long-term investments as of June 30, 2016 and December 31, 2015 are as follows: Long-term Investments June 30, December 31, (in millions) 2016 2015 Equity securities $ $ Other Total $ $

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2016
Changes in Accumulated Other Comprehensive Income (Loss)
Changes in Accumulated Other Comprehensive Income (Loss)	Note 4 — Changes in Accumulated Other Comprehensive Income (Loss) The changes in accumulated other comprehensive income (loss), net of income taxes, are as follows: Three Months Ended June 30 Cumulative Foreign Currency Translation Adjustments Net Actuarial Losses and Prior Service Costs and Credits Cumulative Unrealized Gains (Losses) on Marketable Equity Securities Cumulative Gains (Losses) on Derivative Instruments Designated as Cash Flow Hedges (in millions) 2016 2015 2016 2015 2016 2015 2016 2015 Balance at March 31 $ ) $ ) $ ) $ ) $ ) $ $ ) $ Other comprehensive income (loss) before reclassifications ) ) — ) Amounts reclassified from accumulated other comprehensive income — — — ) ) ) Net current period comprehensive income (loss) ) ) ) ) ) Balance at June 30 $ ) $ ) $ ) $ ) $ ) $ $ ) $ Six Months Ended June 30 Cumulative Foreign Currency Translation Adjustments Net Actuarial Losses and Prior Service Costs and Credits Cumulative Unrealized Gains (Losses) on Marketable Equity Securities Cumulative Gains (Losses) on Derivative Instruments Designated as Cash Flow Hedges (in millions) 2016 2015 2016 2015 2016 2015 2016 2015 Balance at December 31, 2015 and 2014 $ ) $ ) $ ) $ ) $ $ $ $ Impact of business dispositions — — — — — — Other comprehensive income (loss) before reclassifications ) ) — ) ) Amounts reclassified from accumulated other comprehensive income — — — ) ) ) Net current period comprehensive income (loss) ) ) ) ) Balance at June 30 $ ) $ ) $ ) $ ) $ ) $ $ ) $ Reclassified amounts for foreign currency translation are recorded in the Condensed Consolidated Statement of Earnings as Net foreign exchange loss (gain); gains (losses) on marketable equity securities as Other (income) expense, net and cash flow hedges as Cost of products sold. Net actuarial losses and prior service cost are included as a component of net periodic benefit plan costs; see Note 11 for additional details.

Business Acquisitions

Business Acquisitions	6 Months Ended
	Jun. 30, 2016
Business Acquisitions
Business Acquisitions	Note 5 — Business Acquisitions In August 2015, Abbott completed the acquisition of the equity of Tendyne Holdings, Inc. (Tendyne) that Abbott did not already own for approximately $225 million in cash plus additional payments up to $150 million to be made upon completion of certain regulatory milestones. The acquisition of Tendyne, which is focused on developing minimally invasive mitral valve replacement therapies, allows Abbott to broaden its foundation in the treatment of mitral valve disease. The preliminary allocation of the fair value of the acquisition resulted in non-deductible acquired in-process research and development of approximately $220 million, which is accounted for as an indefinite-lived intangible asset until regulatory approval or discontinuation, non-deductible goodwill of approximately $142 million, other assets of approximately $13 million, net deferred tax liabilities of approximately $80 million, and contingent consideration of approximately $70 million. The preliminary allocations of the fair value of this acquisition will be finalized when the valuation is completed. Had this acquisition taken place as of the beginning of the comparable prior annual reporting period, consolidated net sales and earnings would not have been significantly different from reported amounts. On January 30, 2016, Abbott entered into a definitive agreement to acquire Alere Inc. (Alere). With annual sales of approximately $2.5 billion, Alere is a global leader in point of care diagnostics. The acquisition, which is expected to significantly advance Abbott’s global diagnostics presence and leadership, is subject to the approval of Alere shareholders and the satisfaction of customary closing conditions, including applicable regulatory approvals. On March 15, 2016, Alere filed a Form 8-K stating that it will not be able to file its 2015 Form 10-K until it completes its analysis of the timing of revenue recognition in Africa and China. In its Form 8-K, Alere also stated that it does not expect to mail a definitive proxy statement related to obtaining the Alere shareholders’ approval of the acquisition by Abbott until after Alere files its 2015 Form 10-K. On May 2, 2016, Abbott and Alere received a request for additional information from the United States Federal Trade Commission (FTC) relating to Abbott’s potential acquisition of Alere. The effect of this request, which was issued under the Hart-Scott Rodino (HSR) Antitrust Improvements Act of 1976, as amended, is to extend the waiting period imposed by the HSR Act until 30 days after Abbott and Alere have substantially complied with this request, unless the period is extended voluntarily by the parties or terminated sooner by the FTC. On July 14, 2016, Alere filed a Form 8-K reporting that it had issued a press release announcing certain preliminary unaudited financial information for the fiscal year ended December 31, 2015 and the three months ended March 31, 2016. In its press release, Alere also stated that it had identified misstatements under U.S. GAAP regarding the timing of revenue recognition in 2013, 2014 and the first three quarters of 2015, and that it expected to file revised 2013 and 2014 financial statements in its 2015 Form 10-K and revised quarterly financial statements for the first three quarters of 2015 in its 2016 quarterly reports when they are filed. Alere has not disclosed an expected filing date for its 2015 Form 10-K. The press release also stated that Alere’s management expects to conclude that one or more material weaknesses exist in Alere’s internal control over financial reporting in the areas of revenue recognition and income taxes and that, as a result, internal control over financial reporting and disclosure controls and procedures were not effective as of December 31, 2015. Under the terms of the agreement, Abbott will pay $56 per common share at a total expected equity value of $5.8 billion. Alere’s net debt, currently $2.6 billion, will be assumed or refinanced by Abbott. In February 2016, Abbott obtained a commitment for a 364-day senior unsecured bridge term loan facility for an amount not to exceed $9 billion in conjunction with its pending acquisition of Alere. While Abbott plans to use cash on hand at the time of the acquisition from anticipated long-term borrowings to acquire Alere, the bridge facility will provide back-up financing. On April 27, 2016, Abbott entered into a definitive agreement to acquire St. Jude Medical, Inc. (St. Jude Medical). With 2015 sales of approximately $5.5 billion, St. Jude Medical is a global medical device manufacturer. The acquisition, which is expected to significantly advance Abbott’s global cardiovascular device presence and leadership, is subject to the approval of St. Jude Medical shareholders and the satisfaction of customary closing conditions, including applicable regulatory approvals. On July 11, 2016, Abbott and St. Jude Medical received a request for additional information from the United States FTC relating to Abbott’s potential acquisition of St. Jude Medical. The effect of this request, which was issued under the HSR Act, is to extend the waiting period imposed by the HSR Act until 30 days after Abbott and St. Jude Medical have substantially complied with this request, unless the period is extended voluntarily by the parties or terminated sooner by the FTC. Under the terms of the agreement, for each share of stock, St. Jude Medical shareholders will receive $46.75 in cash and 0.8708 of a share of Abbott common stock. At an Abbott stock price of $42.65, which reflects the closing price on July 20, 2016, this represents a value of approximately $84 per common share at a total expected equity value of approximately $25 billion. St. Jude Medical’s net debt of approximately $5.7 billion will be assumed or refinanced by Abbott. In April 2016, Abbott obtained a commitment for a 364-day senior unsecured bridge term loan facility for an amount not to exceed $17.2 billion in conjunction with its pending acquisition of St. Jude Medical. While Abbott plans to fund the cash portion of this transaction with anticipated medium and long-term borrowings, the bridge facility will provide back-up financing.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jun. 30, 2016
Goodwill and Intangible Assets
Goodwill and Intangible Assets	Note 6 — Goodwill and Intangible Assets The total amount of goodwill reported was $9.752 billion at June 30, 2016 and $9.638 billion at December 31, 2015. In the first six months of 2016, foreign currency translation adjustments increased goodwill by approximately $103 million. There was no purchase price allocation adjustments associated with recent acquisitions made during the six months of 2016. The amount of goodwill related to reportable segments at June 30, 2016 was $3.0 billion for the Established Pharmaceutical Products segment, $286 million for the Nutritional Products segment, $451 million for the Diagnostic Products segment, and $2.9 billion for the Vascular Products segment. There was no reduction of goodwill relating to impairments. The gross amount of amortizable intangible assets, primarily product rights and technology was $10.9 billion as of June 30, 2016 and $10.8 billion as of December 31, 2015, and accumulated amortization was $6.0 billion as of June 30, 2016 and $5.7 billion as of December 31, 2015. Foreign currency translation adjustments increased intangible assets by $54 million in the six months of 2016. Indefinite-lived intangible assets, which relate to in-process research and development acquired in a business combination, were approximately $390 million and $419 million as of June 30, 2016 and December 31, 2015, respectively. In the first six months of 2016, Abbott recorded an impairment of a $43 million in-process research and development project related to a non-reportable segment. Abbott’s estimated annual amortization expense for intangible assets is approximately $580 million in 2016, $560 million in 2017, $520 million in 2018, $490 million in 2019 and $480 million in 2020. Amortizable intangible assets are amortized over 2 to 20 years (weighted average 14 years).

Restructuring Plans

Restructuring Plans	6 Months Ended
	Jun. 30, 2016
Restructuring Plans
Restructuring Plans	Note 7 — Restructuring Plans In 2016, 2015 and 2014, Abbott management approved plans to streamline operations in order to reduce costs and improve efficiencies in various Abbott businesses including the nutritional, established pharmaceuticals and vascular businesses. In the first six months of 2016, charges of approximately $13 million were recognized, of which approximately $7 million is recognized as Cost of products sold and approximately $6 million as Selling, general and administrative expense. Additional charges of approximately $2 million were recorded primarily for accelerated depreciation. The following summarizes the activity for the first six months of 2016 related to these restructuring actions and the status of the related accrual as of June 30, 2016: (in millions) Accrued balance at December 31, 2015 $ Restructuring charges recorded in 2016 Payments and other adjustments ) Accrued balance at June 30, 2016 $ From 2013 to 20 15, Abbott management approved various plans to reduce costs and improve efficiencies across various functional areas. In the first six months of 2016, charges of approximately $12 million were recognized as Selling, general and administrative expense. In 2013, Abbott management also approved plans to streamline certain manufacturing operations in order to reduce costs and improve efficiencies in Abbott’s established pharmaceuticals business. In 2012, Abbott management approved plans to streamline various commercial operations in order to reduce costs and improve efficiencies in Abbott’s core diagnostics, established pharmaceuticals and nutritionals businesses. The following summarizes the activity for the first six months of 2016 related to these restructuring actions and the status of the related accrual as of June 30, 2016: (in millions) Accrued balance at December 31, 2015 $ Restructuring charges recorded in 2016 Payments and other adjustments ) Accrued balance at June 30, 2016 $ In 2013 and prior years, Abbott management approved plans to streamline global manufacturing operations, reduce overall costs and improve efficiencies in its worldwide pharmaceutical, vascular and core diagnostics businesses as well as selected domestic and international commercial and research and development operations. The following summarizes the activity for the first six months of 2016 related to these restructuring actions and the status of the related accrual as of June 30, 2016: (in millions) Accrued balance at December 31, 2015 $ Payments and other adjustments ) Accrued balance at June 30, 2016 $

Incentive Stock Programs

Incentive Stock Programs	6 Months Ended
	Jun. 30, 2016
Incentive Stock Programs
Incentive Stock Programs	Note 8 — Incentive Stock Programs In the first six months of 2016, Abbott granted 7,699,301 stock options, 776,510 restricted stock awards and 7,341,273 restricted stock units under its incentive stock programs. At June 30, 2016, approximately 56 million shares were reserved for future grants. Information regarding the number of stock options outstanding and exercisable at June 30, 2016 is as follows: Outstanding Exercisable Number of shares Weighted average remaining life ( years ) Weighted average exercise price $ $ Aggregate intrinsic value ( in millions ) $ $ The total unrecognized share-based compensation cost at June 30, 2016 amounted to approximately $280 million which is expected to be recognized over the next three years.

Financial Instruments, Derivati

Financial Instruments, Derivatives and Fair Value Measures	6 Months Ended
	Jun. 30, 2016
Financial Instruments, Derivatives and Fair Value Measures
Financial Instruments, Derivatives and Fair Value Measures	Note 9 — Financial Instruments, Derivatives and Fair Value Measures Certain Abbott foreign subsidiaries enter into foreign currency forward exchange contracts to manage exposures to changes in foreign exchange rates for anticipated intercompany purchases by those subsidiaries whose functional currencies are not the U.S. dollar. These contracts, with gross notional amounts totaling $1.9 billion at June 30, 2016 and $2.4 billion at December 31, 2015 are designated as cash flow hedges of the variability of the cash flows due to changes in foreign exchange rates and are recorded at fair value. Accumulated gains and losses as of June 30, 2016 will be included in Cost of products sold at the time the products are sold, generally through the next twelve to eighteen months. The amount of hedge ineffectiveness was not significant in 2016 and 2015. Abbott enters into foreign currency forward exchange contracts to manage currency exposures for foreign currency denominated third-party trade payables and receivables, and for intercompany loans and trade accounts payable where the receivable or payable is denominated in a currency other than the functional currency of the entity. For intercompany loans, the contracts require Abbott to sell or buy foreign currencies, primarily European currencies including the British pound, in exchange for primarily U.S. dollars and other European currencies. For intercompany and trade payables and receivables, the currency exposures are primarily the U.S. dollar and European currencies. At June 30, 2016 and December 31, 2015, Abbott held the gross notional amount of $15.1 billion and $14.0 billion, respectively, of such foreign currency forward exchange contracts. Abbott has designated foreign denominated short-term debt as a hedge of the net investment in a foreign subsidiary of approximately $516 million and approximately $439 million as of June 30, 2016 and December 31, 2015, respectively. Accordingly, changes in the reported value of this debt due to changes in exchange rates are recorded in Accumulated other comprehensive income (loss), net of tax. Abbott is a party to interest rate hedge contracts totaling approximately $4.0 billion at June 30, 2016 and December 31, 2015 to manage its exposure to changes in the fair value of fixed-rate debt. These contracts are designated as fair value hedges of the variability of the fair value of fixed-rate debt due to changes in the long-term benchmark interest rates. The effect of the hedge is to change a fixed-rate interest obligation to a variable rate for that portion of the debt. Abbott records the contracts at fair value and adjusts the carrying amount of the fixed-rate debt by an offsetting amount. The amount of hedge ineffectiveness was not significant in 2016 and 2015. The following table summarizes the amounts and location of certain derivative financial instruments as of June 30, 2016 and December 31, 2015: Fair Value - Assets Fair Value - Liabilities (in millions) June 30, 2016 Dec. 31, 2015 Balance Sheet Caption June 30, 2016 Dec. 31, 2015 Balance Sheet Caption Interest rate swaps designated as fair value hedges $ $ Deferred income taxes and other assets $ — $ — n/a Foreign currency forward exchange contracts: Hedging instruments Prepaid expenses and other receivables Other accrued liabilities Others not designated as hedges Prepaid expenses and other receivables Other accrued liabilities Debt designated as a hedge of net investment in a foreign subsidiary — — n/a Short-term borrowings $ $ $ $ The following table summarizes the activity for foreign currency forward exchange contracts designated as cash flow hedges, debt designated as a hedge of net investment in a foreign subsidiary and certain other derivative financial instruments, as well as the amounts and location of income (expense) and gain (loss) reclassified into income for the three months and six months ended June 30, 2016 and 2015. The amount of hedge ineffectiveness was not significant in 2016 and 2015 for these hedges. Gain (loss) Recognized in Other Comprehensive Income (loss) Income (expense) and Gain (loss) Reclassified into Income Three Months Ended June 30 Six Months Ended June 30 Three Months Ended June 30 Six Months Ended June 30 Income Statement (in millions) 2016 2015 2016 2015 2016 2015 2016 2015 Caption Foreign currency forward exchange contracts designated as cash flow hedges $ $ $ ) $ $ $ $ $ Cost of products sold Debt designated as a hedge of net investment in a foreign subsidiary ) ) n/a n/a n/a n/a n/a Interest rate swaps designated as fair value hedges n/a n/a n/a n/a ) ) Interest expense Gains of $20 million and $85 million were recognized in the three months ended June 30, 2016 and 2015, respectively, related to foreign currency forward exchange contracts not designated as a hedge. Gains of $18 million and $101 million were recognized in the six months ended June 30, 2016 and 2015, respectively, related to foreign currency forward exchange contracts not designated as a hedge. These amounts are reported in the Condensed Consolidated Statement of Earnings on the Net foreign exchange loss (gain) line. The interest rate swaps are designated as fair value hedges of the variability of the fair value of fixed-rate debt due to changes in the long-term benchmark interest rates. The hedged debt is marked to market, offsetting the effect of marking the interest rate swaps to market. The carrying values and fair values of certain financial instruments as of June 30, 2016 and December 31, 2015 are shown in the following table. The carrying values of all other financial instruments approximate their estimated fair values. The counterparties to financial instruments consist of select major international financial institutions. Abbott does not expect any losses from nonperformance by these counterparties. June 30, 2016 December 31, 2015 (in millions) Carrying Value Fair Value Carrying Value Fair Value Investment Securities: Equity securities $ $ $ $ Other Total Long-term Debt ) ) ) ) Foreign Currency Forward Exchange Contracts: Receivable position (Payable) position ) ) ) ) Interest Rate Hedge Contracts: Receivable position The fair value of the debt was determined based on significant other observable inputs, including current interest rates. The following table summarizes the bases used to measure certain assets and liabilities at fair value on a recurring basis in the balance sheet: Basis of Fair Value Measurement (in millions) Outstanding Balances Quoted Prices in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs June 30, 2016: Equity securities $ $ $ — $ — Interest rate swap derivative financial instruments — — Foreign currency forward exchange contracts — — Total Assets $ $ $ $ — Fair value of hedged long-term debt $ $ — $ $ — Foreign currency forward exchange contracts — — Contingent consideration related to business combinations — — Total Liabilities $ $ — $ $ December 31, 2015: Equity securities $ $ $ — $ — Interest rate swap derivative financial instruments — — Foreign currency forward exchange contracts — — Total Assets $ $ $ $ — Fair value of hedged long-term debt $ $ — $ $ — Foreign currency forward exchange contracts — — Contingent consideration related to business combinations — — Total Liabilities $ $ — $ $ Equity securities are principally comprised of Mylan N.V. ordinary shares. The fair value of the Mylan equity securities was determined based on the value of the publicly-traded ordinary shares. The fair value of debt was determined based on the face value of the debt adjusted for the fair value of the interest rate swaps, which is based on a discounted cash flow analysis. The fair value of foreign currency forward exchange contracts is determined using a market approach, which utilizes values for comparable derivative instruments. The fair value of the contingent consideration was determined based on an independent appraisal adjusted for the time value of money and other changes in fair value primarily resulting from changes in regulatory timelines. The following table summarizes the available-for-sale equity securities in an unrealized loss position: (in millions) June 30, 2016 December 31, 2015 Fair value of securities in an unrealized loss position $ $ — Unrealized gross losses — Available-for-sale securities are periodically assessed for other-than-temporary impairment losses. The unrealized losses relate to the holding of Mylan N.V. ordinary shares, which have been in an unrealized loss position for less than six months at June 30, 2016. Factors considered in assessing other-than-temporary impairment losses include the length of time and the extent to which the fair value has been less than cost, the financial condition and near term prospects of the issuer, Abbott’s intent and ability to retain the securities for a period of time sufficient to allow for recovery in fair value, overall market conditions, and industry and company specific factors. Based on that evaluation and Abbott’s ability and intent to hold these investments for a reasonable period of time sufficient for a forecasted recovery of fair value, Abbott does not consider these securities to be other-than-temporarily impaired at June 30, 2016.

Litigation and Environmental Ma

Litigation and Environmental Matters	6 Months Ended
	Jun. 30, 2016
Litigation and Environmental Matters
Litigation and Environmental Matters	Note 10 — Litigation and Environmental Matters Abbott has been identified as a potentially responsible party for investigation and cleanup costs at a number of locations in the United States and Puerto Rico under federal and state remediation laws and is investigating potential contamination at a number of company-owned locations. Abbott has recorded an estimated cleanup cost for each site for which management believes Abbott has a probable loss exposure. No individual site cleanup exposure is expected to exceed $4 million, and the aggregate cleanup exposure is not expected to exceed $10 million. Abbott is involved in various claims and legal proceedings, and Abbott estimates the range of possible loss for its legal proceedings and environmental exposures to be from approximately $35 million to $45 million. The recorded accrual balance at June 30, 2016 for these proceedings and exposures was approximately $40 million. This accrual represents management’s best estimate of probable loss, as defined by FASB ASC No. 450, “Contingencies.” Within the next year, legal proceedings may occur that may result in a change in the estimated loss accrued by Abbott. While it is not feasible to predict the outcome of all such proceedings and exposures with certainty, management believes that their ultimate disposition should not have a material adverse effect on Abbott’s financial position, cash flows, or results of operations.

Post-Employment Benefits

Post-Employment Benefits	6 Months Ended
	Jun. 30, 2016
Post-Employment Benefits
Post-Employment Benefits	Note 11 — Post-Employment Benefits Retirement plans consist of defined benefit, defined contribution, and medical and dental plans. Net cost recognized in continuing operations for the three months and six months ended June 30 for Abbott’s major defined benefit plans and post-employment medical and dental benefit plans is as follows: Defined Benefit Plans Medical and Dental Plans Three Months Six Months Three Months Six Months Ended June 30 Ended June 30 Ended June 30 Ended June 30 (in millions) 2016 2015 2016 2015 2016 2015 2016 2015 Service cost - benefits earned during the period $ $ $ $ $ $ $ $ Interest cost on projected benefit obligations Expected return on plan assets ) ) ) ) ) ) ) ) Net amortization of: Actuarial loss, net Prior service cost (credit) — — — — ) ) ) ) Total Cost — ) Less: Discontinued operations — — — — — — — Net cost - continuing operations $ $ $ $ $ — $ ) $ $ Abbott funds its domestic defined benefit plans according to IRS funding limitations. International pension plans are funded according to similar regulations. In the first six months of 2016 and 2015, $524 million and $547 million, respectively, were contributed to defined benefit plans and $9 million and $24 million, respectively, were contributed to the post-employment medical and dental benefit plans.

Taxes on Earnings

Taxes on Earnings	6 Months Ended
	Jun. 30, 2016
Taxes on Earnings
Taxes on Earnings	Note 12 — Taxes on Earnings Taxes on earnings from continuing operations reflect the estimated annual effective rates and include charges for interest and penalties. In the first six months of 2016, taxes on earnings from continuing operations includes the impact of a net tax benefit of approximately $145 million as a result of the resolution of various tax positions from prior years, partially offset by the unfavorable impact of non-deductible foreign exchange losses related to Venezuela. Earnings from discontinued operations, net of tax, in the first six months of 2016 reflects the recognition of $266 million of net tax benefits primarily as a result of the resolution of various tax positions related to prior years. The conclusion of these tax matters decreased the gross amount of unrecognized tax benefits by approximately $444 million. In the first six months of 2015, taxes on earnings from continuing operations include a tax cost of $69 million related to the disposal of shares of Mylan stock. Taxes on earnings from continuing operations in the first six months of 2015 were not affected by any adjustments as the result of the resolution of various tax positions pertaining to prior years. 2015 tax expense related to discontinued operations includes $665 million of tax expense on certain funds earned outside the U.S. in 2015 that were not designated as permanently reinvested overseas. Earnings from discontinued operations, net of tax, in the first six months of 2015 also reflects the recognition of $17 million of net tax benefits primarily as a result of the resolution of various tax positions related to AbbVie’s operations for years prior to the separation. The conclusion of these tax matters decreased the gross amount of unrecognized tax benefits by approximately $35 million. Tax authorities in various jurisdictions regularly review Abbott’s income tax filings. Abbott believes that it is reasonably possible that the recorded amount of gross unrecognized tax benefits may decrease by $100 million to $200 million, including cash adjustments, within the next twelve months as a result of concluding various domestic and international tax matters. In the U.S., Abbott’s federal income tax returns through 2012 are settled except for one issue.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2016
Segment Information
Segment Information	Note 13 — Segment Information Abbott’s principal business is the discovery, development, manufacture and sale of a broad line of health care products. Abbott’s products are generally sold directly to retailers, wholesalers, hospitals, health care facilities, laboratories, physicians’ offices and government agencies throughout the world. Abbott’s reportable segments are as follows: Established Pharmaceutical Products — International sales of a broad line of branded generic pharmaceutical products. Nutritional Products — Worldwide sales of a broad line of adult and pediatric nutritional products. Diagnostic Products — Worldwide sales of diagnostic systems and tests for blood banks, hospitals, commercial laboratories and alternate-care testing sites. For segment reporting purposes, the Core Laboratories Diagnostics, Molecular Diagnostics, Point of Care and Ibis diagnostic divisions are aggregated and reported as the Diagnostic Products segment. Vascular Products — Worldwide sales of coronary, endovascular, structural heart, vessel closure and other medical device products. For segment reporting purposes, the Vascular and Electrophysiology Products divisions are aggregated and reported as the Vascular Products segment. Non-reportable segments include the Diabetes Care and Medical Optics segments. Abbott’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. Intersegment transfers of inventory are recorded at standard cost and are not a measure of segment operating earnings. The cost of some corporate functions and the cost of certain employee benefits are charged to segments at predetermined rates that approximate cost. Remaining costs, if any, are not allocated to segments. In addition, intangible asset amortization is not allocated to operating segments, and intangible assets and goodwill are not included in the measure of each segment’s assets. The following segment information has been prepared in accordance with the internal accounting policies of Abbott, as described above, and is not presented in accordance with generally accepted accounting principles applied to the consolidated financial statements. Net Sales to External Customers Operating Earnings Three Months Six Months Three Months Six Months Ended June 30 Ended June 30 Ended June 30 Ended June 30 (in millions) 2016 2015 2016 2015 2016 2015 2016 2015 Established Pharmaceutical Products $ $ $ $ $ $ $ $ Nutritional Products Diagnostic Products Vascular Products Total Reportable Segments Other Net Sales $ $ $ $ Corporate functions and benefit plans costs ) ) ) ) Non-reportable segments Net interest expense ) ) ) Share-based compensation (a) ) ) ) ) Amortization of intangible assets ) ) ) ) Other, net (b) ) ) Earnings from continuing operations before taxes $ $ $ $ (a) Approximately 50 percent of the annual net cost of share-based awards will typically be recognized in the first quarter due to the timing of the granting of share-based awards. (b) Other, net for the six months ended June 30, 2016, includes $477 million of foreign currency loss related to operations in Venezuela. Other, net for the three months and six months ended June 30, 2015, includes a gain on the sale of a portion of Abbott’s position in Mylan stock and a decrease in the fair value of contingent consideration related to a business acquisition.

Discontinued Operations (Tables

Discontinued Operations (Tables)	6 Months Ended
	Jun. 30, 2016
Components of discontinued operations	Three Months Ended June 30 Six Months Ended June 30 (in millions) 2016 2015 2016 2015 Net Sales Developed markets generics pharmaceuticals and animal health businesses $ — $ — $ — $ AbbVie — — — — Total $ — $ — $ — $ Earnings (Loss) Before Tax Developed markets generics pharmaceuticals and animal health businesses $ ) $ ) $ ) $ AbbVie — — — — Total $ ) $ ) $ ) $ Income Tax Expense (Benefit) Developed markets generics pharmaceuticals and animal health businesses $ — $ — $ ) $ AbbVie ) ) ) ) Total $ ) $ ) $ ) $ ) Net Earnings (Loss) Developed markets generics pharmaceuticals and animal health businesses $ ) $ ) $ ) $ AbbVie Total $ $ ) $ $
Held for disposition
Components of discontinued operations	(in millions) June 30, 2016 December 31, 2015 Cash and Trade receivables, net $ $ Total inventories Prepaid expenses and other receivables Current assets held for disposition Net property and equipment Deferred income taxes and other assets Non-current assets held for disposition Total assets held for disposition $ $ Trade accounts payable $ $ Salaries, wages, commissions and other accrued liabilities Current liabilities held for disposition Post-employment obligations, deferred income taxes and other long-term liabilities — — Total liabilities held for disposition $ $

Supplemental Financial Inform22

Supplemental Financial Information (Tables)	6 Months Ended
	Jun. 30, 2016
Supplemental Financial Information
Components of long-term investments	Long-term Investments June 30, December 31, (in millions) 2016 2015 Equity securities $ $ Other Total $ $

Changes in Accumulated Other 23

Changes in Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2016
Changes in Accumulated Other Comprehensive Income (Loss)
Schedule of Accumulated Other Comprehensive Income (Loss)	Three Months Ended June 30 Cumulative Foreign Currency Translation Adjustments Net Actuarial Losses and Prior Service Costs and Credits Cumulative Unrealized Gains (Losses) on Marketable Equity Securities Cumulative Gains (Losses) on Derivative Instruments Designated as Cash Flow Hedges (in millions) 2016 2015 2016 2015 2016 2015 2016 2015 Balance at March 31 $ ) $ ) $ ) $ ) $ ) $ $ ) $ Other comprehensive income (loss) before reclassifications ) ) — ) Amounts reclassified from accumulated other comprehensive income — — — ) ) ) Net current period comprehensive income (loss) ) ) ) ) ) Balance at June 30 $ ) $ ) $ ) $ ) $ ) $ $ ) $ Six Months Ended June 30 Cumulative Foreign Currency Translation Adjustments Net Actuarial Losses and Prior Service Costs and Credits Cumulative Unrealized Gains (Losses) on Marketable Equity Securities Cumulative Gains (Losses) on Derivative Instruments Designated as Cash Flow Hedges (in millions) 2016 2015 2016 2015 2016 2015 2016 2015 Balance at December 31, 2015 and 2014 $ ) $ ) $ ) $ ) $ $ $ $ Impact of business dispositions — — — — — — Other comprehensive income (loss) before reclassifications ) ) — ) ) Amounts reclassified from accumulated other comprehensive income — — — ) ) ) Net current period comprehensive income (loss) ) ) ) ) Balance at June 30 $ ) $ ) $ ) $ ) $ ) $ $ ) $

Restructuring Plans (Tables)

Restructuring Plans (Tables)	6 Months Ended
	Jun. 30, 2016
Restructuring Plan 2016, 2015 and 2014
Restructuring costs
Schedule of restructuring activity	(in millions) Accrued balance at December 31, 2015 $ Restructuring charges recorded in 2016 Payments and other adjustments ) Accrued balance at June 30, 2016 $
Restructuring Plan 2013 to 2015
Restructuring costs
Schedule of restructuring activity	(in millions) Accrued balance at December 31, 2015 $ Restructuring charges recorded in 2016 Payments and other adjustments ) Accrued balance at June 30, 2016 $
Restructuring Plan 2013 and Prior Years
Restructuring costs
Schedule of restructuring activity	(in millions) Accrued balance at December 31, 2015 $ Payments and other adjustments ) Accrued balance at June 30, 2016 $

Incentive Stock Programs (Table

Incentive Stock Programs (Tables)	6 Months Ended
	Jun. 30, 2016
Incentive Stock Programs
Stock options outstanding and exercisable	Outstanding Exercisable Number of shares Weighted average remaining life ( years ) Weighted average exercise price $ $ Aggregate intrinsic value ( in millions ) $ $

Financial Instruments, Deriva26

Financial Instruments, Derivatives and Fair Value Measures (Tables)	6 Months Ended
	Jun. 30, 2016
Financial Instruments, Derivatives and Fair Value Measures
Summary of the amounts and location of certain derivative financial instruments	Fair Value - Assets Fair Value - Liabilities (in millions) June 30, 2016 Dec. 31, 2015 Balance Sheet Caption June 30, 2016 Dec. 31, 2015 Balance Sheet Caption Interest rate swaps designated as fair value hedges $ $ Deferred income taxes and other assets $ — $ — n/a Foreign currency forward exchange contracts: Hedging instruments Prepaid expenses and other receivables Other accrued liabilities Others not designated as hedges Prepaid expenses and other receivables Other accrued liabilities Debt designated as a hedge of net investment in a foreign subsidiary — — n/a Short-term borrowings $ $ $ $
Schedule of derivatives gain (loss) in OCI and earnings	Gain (loss) Recognized in Other Comprehensive Income (loss) Income (expense) and Gain (loss) Reclassified into Income Three Months Ended June 30 Six Months Ended June 30 Three Months Ended June 30 Six Months Ended June 30 Income Statement (in millions) 2016 2015 2016 2015 2016 2015 2016 2015 Caption Foreign currency forward exchange contracts designated as cash flow hedges $ $ $ ) $ $ $ $ $ Cost of products sold Debt designated as a hedge of net investment in a foreign subsidiary ) ) n/a n/a n/a n/a n/a Interest rate swaps designated as fair value hedges n/a n/a n/a n/a ) ) Interest expense
Schedule of carrying values and fair values of certain financial instruments	June 30, 2016 December 31, 2015 (in millions) Carrying Value Fair Value Carrying Value Fair Value Investment Securities: Equity securities $ $ $ $ Other Total Long-term Debt ) ) ) ) Foreign Currency Forward Exchange Contracts: Receivable position (Payable) position ) ) ) ) Interest Rate Hedge Contracts: Receivable position
Schedule of assets and liabilities measured at fair value on a recurring basis	Basis of Fair Value Measurement (in millions) Outstanding Balances Quoted Prices in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs June 30, 2016: Equity securities $ $ $ — $ — Interest rate swap derivative financial instruments — — Foreign currency forward exchange contracts — — Total Assets $ $ $ $ — Fair value of hedged long-term debt $ $ — $ $ — Foreign currency forward exchange contracts — — Contingent consideration related to business combinations — — Total Liabilities $ $ — $ $ December 31, 2015: Equity securities $ $ $ — $ — Interest rate swap derivative financial instruments — — Foreign currency forward exchange contracts — — Total Assets $ $ $ $ — Fair value of hedged long-term debt $ $ — $ $ — Foreign currency forward exchange contracts — — Contingent consideration related to business combinations — — Total Liabilities $ $ — $ $
Schedule summarizes the available-for-sale equity securities in an unrealized loss position	(in millions) June 30, 2016 December 31, 2015 Fair value of securities in an unrealized loss position $ $ — Unrealized gross losses —

Post-Employment Benefits (Table

Post-Employment Benefits (Tables)	6 Months Ended
	Jun. 30, 2016
Post-Employment Benefits
The components of the net periodic benefit cost for the entity's major defined benefit plans and post-employment medical and dental benefit plans	Defined Benefit Plans Medical and Dental Plans Three Months Six Months Three Months Six Months Ended June 30 Ended June 30 Ended June 30 Ended June 30 (in millions) 2016 2015 2016 2015 2016 2015 2016 2015 Service cost - benefits earned during the period $ $ $ $ $ $ $ $ Interest cost on projected benefit obligations Expected return on plan assets ) ) ) ) ) ) ) ) Net amortization of: Actuarial loss, net Prior service cost (credit) — — — — ) ) ) ) Total Cost — ) Less: Discontinued operations — — — — — — — Net cost - continuing operations $ $ $ $ $ — $ ) $ $

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2016
Segment Information
Schedule of segment information - net sales and operating earnings	Net Sales to External Customers Operating Earnings Three Months Six Months Three Months Six Months Ended June 30 Ended June 30 Ended June 30 Ended June 30 (in millions) 2016 2015 2016 2015 2016 2015 2016 2015 Established Pharmaceutical Products $ $ $ $ $ $ $ $ Nutritional Products Diagnostic Products Vascular Products Total Reportable Segments Other Net Sales $ $ $ $ Corporate functions and benefit plans costs ) ) ) ) Non-reportable segments Net interest expense ) ) ) Share-based compensation (a) ) ) ) ) Amortization of intangible assets ) ) ) ) Other, net (b) ) ) Earnings from continuing operations before taxes $ $ $ $ (a) Approximately 50 percent of the annual net cost of share-based awards will typically be recognized in the first quarter due to the timing of the granting of share-based awards. (b) Other, net for the six months ended June 30, 2016, includes $477 million of foreign currency loss related to operations in Venezuela. Other, net for the three months and six months ended June 30, 2015, includes a gain on the sale of a portion of Abbott’s position in Mylan stock and a decrease in the fair value of contingent consideration related to a business acquisition.

Discontinued Operations - (Deta

Discontinued Operations - (Details) - USD ($) shares in Thousands, $ in Millions	Feb. 27, 2015	Feb. 10, 2015	Apr. 30, 2015	Mar. 31, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
After Tax Gain					$ (1)	$ 16	$ 1,736
Gain on sale of Mylan shares							207
Proceeds from the sale of Mylan shares							2,290
Proceeds from the disposition of business						$ 25	$ 230
Developed markets branded generics pharmaceuticals business
Value of shares received for sale of generics pharmaceuticals business to Mylan Inc	$ 5,770
After Tax Gain	$ 1,600
Developed markets branded generics pharmaceuticals business | Minimum
Period for providing manufacturing supply of products	3 years
Developed markets branded generics pharmaceuticals business | Maximum
Period of transition services	2 years
Period for providing manufacturing supply of products	10 years
Period of notice require to terminate manufacturing supply of products	2 years
Animal Health Business
After Tax Gain		$ 130		$ 16
Proceeds from the disposition of business		$ 230		$ 25
Mylan
Number of shares received for sale of generics pharmaceuticals business to Mylan Inc			110,000
Number of shares in investment sold			40,250
Gain on sale of Mylan shares					207
Proceeds from the sale of Mylan shares					2,290
Mylan | Developed markets branded generics pharmaceuticals business
Number of shares received for sale of generics pharmaceuticals business to Mylan Inc	110,000
Percentage of shares received for sale of generics pharmaceuticals business to Mylan Inc	22.00%
Gain on sale of Mylan shares					207
Proceeds from the sale of Mylan shares					$ 2,290
Mylan NV
Ownership interest (as a percent)			14.00%		14.00%		14.00%
Mylan NV | Developed markets branded generics pharmaceuticals business
Number of shares received for sale of generics pharmaceuticals business to Mylan Inc					110,000
Number of shares in investment sold					40,300

Discontinued Operations - AbbVi

Discontinued Operations - AbbVie Separation (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]
Net sales				$ 256
Earnings (Loss) Before Tax	$ (3)	$ (5)	$ (6)	20
Income Tax Expense (Benefit)	(19)	(4)	(266)	(5)
Net Earnings (Loss)	16	(1)	260	25
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax [Abstract]
Pretax Gain			25	2,820
Tax Expenses from discontinued operations				1,100
After Tax Gain		(1)	16	1,736
Developed Markets Generics Pharmaceuticals And Animal Health Business
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]
Net sales				256
Earnings (Loss) Before Tax	(3)	(5)	(6)	20
Income Tax Expense (Benefit)			(3)	12
Net Earnings (Loss)	(3)	(5)	(3)	8
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax [Abstract]
Pretax Gain				2,820
Tax Expenses from discontinued operations				1,084
After Tax Gain				1,736
AbbVie
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]
Income Tax Expense (Benefit)	(19)	(4)	(263)	(17)
Net Earnings (Loss)	19	$ 4	263	$ 17
AbbVie | Proprietary Pharmaceuticals Business Assets and Liabilities Held for Disposal
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]
Prepaid asset	$ 293		$ 293

Discontinued Operations - Asset

Discontinued Operations - Assets And Liabilities Held For Disposition (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Discontinued Operations.
Cash and Trade accounts receivables, net	$ 41	$ 54
Total inventories	20	43
Prepaid expenses and other receivables	5	8
Current assets held for disposition	66	105
Net property and equipment	1	1
Deferred income taxes and other assets	1	1
Non-current assets held for disposition	2	2
Total assets held for disposition	68	107
Trade accounts payable	360	359
Salaries, wages, commissions and other accrued liabilities	1	14
Current liabilities held for disposition	361	373
Total liabilities held for disposition	$ 361	$ 373

Supplemental Financial Inform32

Supplemental Financial Information (Details) shares in Thousands, $ in Millions	Feb. 27, 2015shares	Apr. 30, 2015shares	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Jun. 30, 2015USD ($)shares	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Feb. 17, 2016	Feb. 16, 2016	Dec. 31, 2015USD ($)
Net earnings
Earnings from continuing operations allocated to common shares			$ 597		$ 783	$ 652	$ 1,300
Net earnings allocated to common shares			612		780	927	3,100
Gain on sale of Mylan shares							207
Proceeds from the sale of Mylan shares							2,290
Post-employment Obligations and Other Long-term Liabilities:
Noncash impact of tax benefits from resolution of prior year tax positions						410
Non-cash impact of tax expense associated with the gain on the sale of businesses							$ 1,100
Investments
Investments			$ 3,339			3,339				$ 4,041
Currency exchange rates
Foreign currency loss on remeasurement						477
Mylan
Net earnings
Gain on sale of Mylan shares					207
Number of shares in investment sold | shares		40,250
Proceeds from the sale of Mylan shares					$ 2,290
Investments
Number of shares received for sale of generics pharmaceuticals business to Mylan Inc | shares		110,000
Mylan NV
Net earnings
Remaining ownership interest ( as percentage)		14.00%			14.00%		14.00%
Venezuela
Post-employment Obligations and Other Long-term Liabilities:
Cash impact from foreign currency loss						$ 410
Investments
Abbott's total net assets from Venezuelan operations (as a percent)			0.10%			0.10%
Currency exchange rates
Foreign currency loss on remeasurement				$ 477		$ 477
Venezuelan bolivars
Currency exchange rates
Official rate to U.S. dollar										6.3
CENCOEX
Currency exchange rates
Official rate to U.S. dollar										6.3
SICAD
Currency exchange rates
Official rate to U.S. dollar										13.5
SIMADI
Currency exchange rates
Official rate to U.S. dollar										200
DIPRO
Currency exchange rates
Official rate to U.S. dollar								10	6.3
DICOM
Currency exchange rates
Official rate to U.S. dollar				263
Defined Benefit Plans
Post-employment Obligations and Other Long-term Liabilities:
Company contributions						524	$ 547
Medical and Dental Plans
Post-employment Obligations and Other Long-term Liabilities:
Company contributions						9	$ 24
Equity securities
Investments
Investments			$ 3,288			3,288				$ 4,014
Other
Investments
Investments			$ 51			51				$ 27
Developed markets branded generics pharmaceuticals business
Post-employment Obligations and Other Long-term Liabilities:
Cash impact of tax benefits from resolution of prior year tax positions						$ 140
Developed markets branded generics pharmaceuticals business | Mylan
Net earnings
Gain on sale of Mylan shares					$ 207
Decrease in fair value of contingent consideration					79
Proceeds from the sale of Mylan shares					$ 2,290
Investments
Number of shares received for sale of generics pharmaceuticals business to Mylan Inc | shares	110,000
Developed markets branded generics pharmaceuticals business | Mylan NV
Net earnings
Number of shares in investment sold | shares					40,300
Investments
Number of shares received for sale of generics pharmaceuticals business to Mylan Inc | shares					110,000
Percentage of shares held before sale of generics pharmaceuticals business to Mylan Inc					22.00%

Changes in Accumulated Other 33

Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Other comprehensive income from continuing operations, net of income taxes
Beginning of Year			$ 21,326
Other comprehensive income (loss)	$ (372)	$ 603	(565)	$ (78)
End of Year	20,795		20,795
Cumulative Foreign Currency Translation Adjustments
Other comprehensive income from continuing operations, net of income taxes
Beginning of Year	(4,408)	(3,727)	(4,829)	(2,924)
Impact of business dispositions				108
Other comprehensive income (loss) before reclassifications	(104)	84	317	(827)
Other comprehensive income (loss)	(104)	84	317	(827)
End of Year	(4,512)	(3,643)	(4,512)	(3,643)
Net Actuarial Losses and Prior Service Costs and Credits
Other comprehensive income from continuing operations, net of income taxes
Beginning of Year	(1,940)	(2,179)	(1,958)	(2,229)
Impact of business dispositions				19
Other comprehensive income (loss) before reclassifications	(62)		(62)
Amounts reclassified from accumulated other comprehensive income	15	22	33	53
Other comprehensive income (loss)	(47)	22	(29)	53
End of Year	(1,987)	(2,157)	(1,987)	(2,157)
Cumulative Unrealized Gains (Losses) on Marketable Equity Securities
Other comprehensive income from continuing operations, net of income taxes
Beginning of Year	(478)	174	65	1
Other comprehensive income (loss) before reclassifications	(213)	660	(756)	833
Amounts reclassified from accumulated other comprehensive income		(138)		(138)
Other comprehensive income (loss)	(213)	522	(756)	695
End of Year	(691)	696	(691)	696
Cumulative Gains (Losses) on Derivative Instruments Designated as Cash Flow Hedges
Other comprehensive income from continuing operations, net of income taxes
Beginning of Year	(25)	125	64	99
Other comprehensive income (loss) before reclassifications	11	5	(47)	48
Amounts reclassified from accumulated other comprehensive income	(19)	(30)	(50)	(47)
Other comprehensive income (loss)	(8)	(25)	(97)	1
End of Year	$ (33)	$ 100	$ (33)	$ 100

Business Acquisitions (Details)

Business Acquisitions (Details) - USD ($) $ / shares in Units, $ in Millions	Jan. 30, 2016	Feb. 29, 2016	Aug. 31, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Business acquisitions
Net cash paid, net of cash on hand of acquired company				$ 7	$ 4
Allocation of the fair value
Goodwill, non-deductible				$ 9,752		$ 9,638
Maximum
Business acquisitions
Senior unsecured bridge term loan		$ 9,000
Bridge loan
Business acquisitions
Maturity period		364 days
Tendyne Holdings, Inc.
Business acquisitions
Cash paid for business acquisition			$ 225
Additional payments upon completion of certain regulatory milestones			150
Allocation of the fair value
Acquired intangible assets, non-deductible			220
Goodwill, non-deductible			142
Other long-term assets			13
Deferred income taxes recorded at acquisition			(80)
Contingent consideration			$ 70
Alere Inc
Business acquisitions
Annual sales	$ 2,500
Share price (in dollars per share)	$ 56
Expected equity value	$ 5,800
Liabilities assumed	$ 2,600

Business Acquisitions - St Jude

Business Acquisitions - St Jude Acquisition (Details) - St Jude Medical - USD ($) $ / shares in Units, $ in Billions	Apr. 27, 2016	Dec. 31, 2015
Business acquisitions
Annual sales		$ 5.5
Share price (in dollars per share)	$ 46.75
Shares of stock (in shares)	0.8708
Weighted average share price	$ 42.65
Expected equity value (in dollars per share)	$ 84
Expected equity value	$ 25
Assumed debt	$ 5.7
Maturity period	364 days
Senior unsecured bridge term loan	$ 17.2

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Goodwill and intangible assets information
Goodwill	$ 9,752	$ 9,638
Purchase price allocation adjustments associated with acquisitions	0
Foreign currency translation adjustments	103
Amount of reduction of goodwill relating to impairments	0
Established Pharmaceutical Products
Goodwill and intangible assets information
Goodwill	3,000
Nutritional Products
Goodwill and intangible assets information
Goodwill	286
Diagnostic Products
Goodwill and intangible assets information
Goodwill	451
Vascular Products
Goodwill and intangible assets information
Goodwill	$ 2,900

Goodwill and Intangible Asset37

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Goodwill and Intangible Assets
Gross amount of amortizable intangible assets	$ 10,900	$ 10,800
Accumulated amortization of intangible assets	6,000	5,700
Change in intangible assets due to foreign currency translation and other adjustments	54
Indefinite-lived intangible assets related to in-process research and development acquired in a business combination	390	$ 419
Estimated annual amortization expense, intangible assets, 2016	580
Estimated annual amortization expense, intangible assets, 2017	560
Estimated annual amortization expense, intangible assets, 2018	520
Estimated annual amortization expense, intangible assets, 2019	490
Estimated annual amortization expense, intangible assets, 2020	480
Non-reportable segment
Goodwill and Intangible Assets
Impairment charges for certain research and development assets	$ 43
Minimum
Goodwill and Intangible Assets
Average amortization period, intangible assets	2 years
Maximum
Goodwill and Intangible Assets
Average amortization period, intangible assets	20 years
Average
Goodwill and Intangible Assets
Average amortization period, intangible assets	14 years

Restructuring Plans (Details)

Restructuring Plans (Details) $ in Millions	6 Months Ended
	Jun. 30, 2016USD ($)
Restructuring Plan 2016, 2015 and 2014
Restructuring reserve activity
Restructuring reserve, beginning balance of the period	$ 100
Restructuring charges	13
Payments and other adjustments	(25)
Restructuring reserve, ending balance of the period	88
Restructuring Plan 2016, 2015 And 2014
Restructuring costs
Accelerated depreciation and product transfer costs	2
Restructuring Plan 2016, 2015 And 2014 | Cost of products sold
Restructuring reserve activity
Restructuring charges	7
Restructuring Plan 2016, 2015 And 2014 | Selling, general and administrative expense
Restructuring reserve activity
Restructuring charges	6
Restructuring Plan 2013 to 2015
Restructuring reserve activity
Restructuring reserve, beginning balance of the period	88
Restructuring charges	12
Payments and other adjustments	(46)
Restructuring reserve, ending balance of the period	54
Restructuring Plan 2013 and Prior Years
Restructuring reserve activity
Restructuring reserve, beginning balance of the period	11
Payments and other adjustments	(4)
Restructuring reserve, ending balance of the period	$ 7

Incentive Stock Programs (Detai

Incentive Stock Programs (Details) $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2016USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award
Incentive stock programs, shares reserved for future grants	56,000,000
Total unrecognized compensation cost | $	$ 280
Total unrecognized compensation cost, recognition period	3 years
Stock options
Share-based Compensation Arrangement by Share-based Payment Award
Grants in period, stock options (in shares)	7,699,301
Stock options outstanding, number of shares	38,184,610
Stock options outstanding, weighted-average remaining life	5 years 6 months
Stock options outstanding, weighted-average exercise price (in dollars per share) | $ / shares	$ 33.66
Aggregate intrinsic value of options outstanding | $	$ 260
Exercisable options, number of shares	25,540,864
Exercisable options, weighted-average remaining life	3 years 8 months 12 days
Exercisable options, weighted-average exercise price (in dollars per share) | $ / shares	$ 30.05
Aggregate intrinsic value of options exercisable | $	$ 252
Restricted stock awards
Share-based Compensation Arrangement by Share-based Payment Award
Awards and units granted during period (in shares)	776,510
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award
Awards and units granted during period (in shares)	7,341,273

Financial Instruments, Deriva40

Financial Instruments, Derivatives and Fair Value Measures - Derivative Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Derivative instruments, notional amount and fair value
Fair Value - Assets	$ 401	$ 295
Fair Value - Liabilities	677	541
Designated as hedging instrument | Short-term borrowings | Net investment hedges
Derivative instruments, notional amount and fair value
Fair Value - Liabilities	516	439
Designated as hedging instrument | Interest rate swaps | Fair value hedges
Derivative instruments, notional amount and fair value
Gross notional amount of cash flow hedge instruments	4,000	4,000
Designated as hedging instrument | Interest rate swaps | Deferred income taxes and other assets | Fair value hedges
Derivative instruments, notional amount and fair value
Fair Value - Assets	261	116
Designated as hedging instrument | Foreign currency forward exchange contracts. | Cash flow hedges
Derivative instruments, notional amount and fair value
Gross notional amount of cash flow hedge instruments	$ 1,900	2,400
Minimum length of time over which accumulated gains and losses will be recognized in Cost of products sold	12 months
Maximum length of time over which accumulated gains and losses will be recognized in Cost of products sold	18 months
Designated as hedging instrument | Foreign currency forward exchange contracts. | Prepaid expenses and other receivables
Derivative instruments, notional amount and fair value
Fair Value - Assets	$ 30	64
Designated as hedging instrument | Foreign currency forward exchange contracts. | Other accrued liabilities
Derivative instruments, notional amount and fair value
Fair Value - Liabilities	85	18
Not designated as hedging instrument | Foreign currency forward exchange contracts.
Derivative instruments, notional amount and fair value
Gross notional amount of cash flow hedge instruments	15,100	14,000
Not designated as hedging instrument | Foreign currency forward exchange contracts. | Prepaid expenses and other receivables
Derivative instruments, notional amount and fair value
Fair Value - Assets	110	115
Not designated as hedging instrument | Foreign currency forward exchange contracts. | Other accrued liabilities
Derivative instruments, notional amount and fair value
Fair Value - Liabilities	$ 76	$ 84

Financial Instruments, Deriva41

Financial Instruments, Derivatives and Fair Value Measures - Derivative Instruments, Gain (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Net investment hedges | Designated as hedging instrument
Gain (loss) on derivatives
Gain (loss) Recognized in Other Comprehensive Income (loss)	$ (45)	$ 11	$ (77)	$ 14
Interest rate swaps | Fair value hedges | Designated as hedging instrument | Interest expense
Gain (loss) on derivatives
Income (expense) and Gain (loss) Reclassified into Income	44	(63)	145	(14)
Foreign currency forward exchange contracts. | Not designated as hedging instrument | Net foreign exchange loss (gain)
Gain (loss) on derivatives
Income (expense) and Gain (loss) Reclassified into Income	20	85	18	101
Foreign currency forward exchange contracts. | Cash flow hedges | Designated as hedging instrument | Cost of products sold
Gain (loss) on derivatives
Gain (loss) Recognized in Other Comprehensive Income (loss)	7	5	(51)	48
Income (expense) and Gain (loss) Reclassified into Income	$ 23	$ 30	$ 54	$ 47

Financial Instruments, Deriva42

Financial Instruments, Derivatives and Fair Value Measures - Carrying Values And Fair Values Of Certain Financial Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Fair value, asset and liability measures
Investments Securities	$ 3,339	$ 4,041
Foreign currency forward exchange contracts, receivable position	401	295
Foreign currency forward exchange contracts, (payable) position	(677)	(541)
Equity securities
Fair value, asset and liability measures
Investments Securities	3,288	4,014
Carrying value
Fair value, asset and liability measures
Total long-term debt	(6,020)	(5,874)
Foreign currency forward exchange contracts, receivable position	140	179
Foreign currency forward exchange contracts, (payable) position	(161)	(102)
Interest rate hedge contracts, receivable position	261	116
Carrying value | Equity securities
Fair value, asset and liability measures
Investments Securities	3,288	4,014
Carrying value | Other.
Fair value, asset and liability measures
Investments Securities	51	27
Fair value
Fair value, asset and liability measures
Total long-term debt	(6,712)	(6,337)
Foreign currency forward exchange contracts, receivable position	140	179
Foreign currency forward exchange contracts, (payable) position	(161)	(102)
Interest rate hedge contracts, receivable position	261	116
Fair value | Equity securities
Fair value, asset and liability measures
Investments Securities	3,288	4,014
Fair value | Other.
Fair value, asset and liability measures
Investments Securities	$ 54	$ 30

Financial Instruments, Deriva43

Financial Instruments, Derivatives and Fair Value Measures - Assets And Liabilities At Fair Value On A Recurring Basis (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Fair value, asset and liability measures
Fair Value - Assets	$ 401	$ 295
Fair Value - Liabilities	677	541
Available-for-sale equity securities in an unrealized loss position
Fair value of securities in an unrealized loss position	3,016
Unrealized gross losses	589
Recurring
Fair value, asset and liability measures
Equity securities	3,030	3,780
Interest rate swap derivative financial instruments, assets	261	116
Total Assets	3,431	4,075
Fair value of hedged long-term debt	4,280	4,135
Contingent consideration related to business combinations	162	173
Total Liabilities	4,603	4,410
Recurring | Foreign currency forward exchange contracts
Fair value, asset and liability measures
Fair Value - Assets	140	179
Fair Value - Liabilities	161	102
Recurring | Quoted Prices in Active Markets
Fair value, asset and liability measures
Equity securities	3,030	3,780
Total Assets	3,030	3,780
Recurring | Significant Other Observable Inputs
Fair value, asset and liability measures
Interest rate swap derivative financial instruments, assets	261	116
Total Assets	401	295
Fair value of hedged long-term debt	4,280	4,135
Total Liabilities	4,441	4,237
Recurring | Significant Other Observable Inputs | Foreign currency forward exchange contracts
Fair value, asset and liability measures
Fair Value - Assets	140	179
Fair Value - Liabilities	161	102
Recurring | Significant Unobservable Inputs
Fair value, asset and liability measures
Contingent consideration related to business combinations	162	173
Total Liabilities	$ 162	$ 173

Litigation and Environmental 44

Litigation and Environmental Matters (Details) $ in Millions	Jun. 30, 2016USD ($)
Loss Contingencies
Maximum expected cleanup exposure for individual site	$ 4
Maximum expected cleanup exposure in aggregate	10
Other legal proceedings and environmental exposures
Loss Contingencies
Other legal proceedings or environmental exposure, minimum	35
Other legal proceedings or environmental exposure, maximum	45
Recorded reserve balance for legal proceedings and exposures	$ 40

Post-Employment Benefits (Detai

Post-Employment Benefits (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Defined Benefit Plans
Defined benefit plan net periodic benefit cost
Service cost - benefits earned during the period	$ 67	$ 68	$ 134	$ 150
Interest cost on projected benefit obligations	73	77	146	156
Expected return on plan assets	(143)	(128)	(284)	(257)
Actuarial loss, net	31	42	63	89
Net Cost	28	59	59	138
Net amortization of:
Company contributions			524	547
Defined Benefit Plans | Discontinued operations
Defined benefit plan net periodic benefit cost
Net Cost				1
Defined Benefit Plans | Continuing operations
Defined benefit plan net periodic benefit cost
Net Cost	28	59	59	137
Medical and Dental Plans
Defined benefit plan net periodic benefit cost
Service cost - benefits earned during the period	6	6	13	15
Interest cost on projected benefit obligations	10	11	22	25
Expected return on plan assets	(8)	(10)	(17)	(19)
Actuarial loss, net	3	1	9	10
Prior service cost (credit)	$ (11)	(12)	(22)	(24)
Net Cost		(4)	5	7
Net amortization of:
Company contributions			9	24
Medical and Dental Plans | Continuing operations
Defined benefit plan net periodic benefit cost
Net Cost		$ (4)	$ 5	$ 7

Taxes on Earnings (Details)

Taxes on Earnings (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Taxes on Earnings
Favorable resolution of various tax positions and other unusual provision items			$ 145
Net tax expense (benefits)	$ (19)	$ (4)	(266)	$ (5)
Tax cost related to the disposal of shares				69
Non-cash impact of tax expense associated with the gain on the sale of businesses				1,100
Minimum
Taxes on Earnings
Decrease reasonably possible in gross unrecognized tax benefits	100		100
Maximum
Taxes on Earnings
Decrease reasonably possible in gross unrecognized tax benefits	200		200
AbbVie
Taxes on Earnings
Net tax expense (benefits)	$ (19)	$ (4)	(263)	(17)
Discontinued operations
Taxes on Earnings
Non-cash impact of tax expense associated with the gain on the sale of businesses				665
Discontinued operations | AbbVie
Taxes on Earnings
Decrease in gross unrecognized tax benefits			444	35
Net tax expense (benefits)			$ 266	$ 17

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Segment Reporting Information
Net Sales to External Customers	$ 5,333		$ 5,170	$ 10,218	$ 10,067
Operating Earnings	816		729	1,340	1,339
Amortization of intangible assets	(145)		(151)	(289)	(307)
Earnings from continuing operations before tax	715		986	$ 717	1,639
Annual share-based awards recognized in first quarter (as a percent)				50.00%
Foreign Currency Transaction Loss, before Tax				$ 477
Venezuela
Segment Reporting Information
Foreign Currency Transaction Loss, before Tax		$ 477		477
Other
Segment Reporting Information
Net Sales to External Customers	605		577	1,128	1,117
Total Reportable Segments
Segment Reporting Information
Net Sales to External Customers	4,728		4,593	9,090	8,950
Operating Earnings	1,138		1,145	2,142	2,222
Total Reportable Segments | Established Pharmaceutical Products
Segment Reporting Information
Net Sales to External Customers	980		977	1,868	1,874
Operating Earnings	192		172	340	339
Total Reportable Segments | Nutritional Products
Segment Reporting Information
Net Sales to External Customers	1,740		1,717	3,411	3,386
Operating Earnings	368		389	710	739
Total Reportable Segments | Diagnostic Products
Segment Reporting Information
Net Sales to External Customers	1,226		1,177	2,344	2,270
Operating Earnings	288		304	555	580
Total Reportable Segments | Vascular Products
Segment Reporting Information
Net Sales to External Customers	782		722	1,467	1,420
Operating Earnings	290		280	537	564
Corporate functions
Segment Reporting Information
Corporate functions and benefit plans costs	(94)		(104)	(175)	(221)
Reconciling items
Segment Reporting Information
Non-reportable segments	52		62	50	117
Net interest expense	(83)		(17)	(108)	(33)
Share-based compensation	(62)		(57)	(214)	(205)
Amortization of intangible assets	(145)		(151)	(289)	(307)
Other, net	$ (91)		$ 108	$ (689)	$ 66