Abbott Laboratories (ABT) 10-Q 3 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	Mar. 31, 2017shares
Document and Entity Information
Entity Registrant Name	ABBOTT LABORATORIES
Entity Central Index Key	1,800
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
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	1,735,272,054
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1

Condensed Consolidated Statemen

Condensed Consolidated Statement of Earnings - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Condensed Consolidated Statement of Earnings
Net sales	$ 6,335	$ 4,885
Cost of products sold, excluding amortization of intangible assets	3,044	2,140
Amortization of intangible assets	522	144
Research and development	547	379
Selling, general and administrative	2,424	1,698
Total operating cost and expenses	6,537	4,361
Operating earnings (loss)	(202)	524
Interest expense	226	58
Interest (income)	(22)	(33)
Net foreign exchange (gain) loss	(16)	478
Other (income) expense, net	(1,126)	19
Earnings from continuing operations before tax	736	2
Tax (benefit) expense on earnings from continuing operations	350	(54)
Earnings from continuing operations	386	56
Earnings from discontinued operations, net of tax	33	244
Gain on sale of discontinued operations, net of tax		16
Net earnings from discontinued operations, net of tax	33	260
Net Earnings	$ 419	$ 316
Basic Earnings Per Common Share --
Continuing operations (in dollars per share)	$ 0.22	$ 0.04
Discontinued operations (in dollars per share)	0.02	0.17
Net earnings (in dollars per share)	0.24	0.21
Diluted Earnings Per Common Share --
Continuing operations (in dollars per share)	0.22	0.04
Discontinued operations (in dollars per share)	0.02	0.17
Net earnings (in dollars per share)	0.24	0.21
Cash Dividends Declared Per Common Share	$ 0.265	$ 0.26
Average Number of Common Shares Outstanding Used for Basic Earnings Per Common Share (in shares)	1,727,356	1,477,332
Dilutive Common Stock Options (in shares)	7,839	6,341
Average Number of Common Shares Outstanding Plus Dilutive Common Stock Options (in shares)	1,735,195	1,483,673
Outstanding Common Stock Options Having No Dilutive Effect (in shares)	9,432	5,881

Condensed Consolidated Stateme3

Condensed Consolidated Statement of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Condensed Consolidated Statement of Comprehensive Income
Net earnings	$ 419	$ 316
Foreign currency translation gain (loss) adjustments	533	421
Net actuarial gains (losses) and amortization of net actuarial (losses) and prior service (cost) and credits, net of taxes of $12 in 2017 and $9 in 2016	34	18
Unrealized (losses) gains on marketable equity securities, net of taxes of $53 in 2017 and nil in 2016	80	(543)
Net (losses) gains for derivative instruments designated as cash flow hedges, net of taxes of $(24) in 2017 and $(22) in 2016	(65)	(89)
Other comprehensive income (loss)	582	(193)
Comprehensive Income	1,001	$ 123
Supplemental Accumulated Other Comprehensive Income (Loss) Information, net of tax:
Cumulative foreign currency translation (loss) adjustments	(4,284)		$ (4,959)
Net actuarial (losses) and prior service (cost) and credits	(2,244)		(2,284)
Cumulative unrealized (losses) gains on marketable equity securities	11		(69)
Cumulative (losses) gains on derivative instruments designated as cash flow hedges	$ (15)		$ 49

Condensed Consolidated Stateme4

Condensed Consolidated Statement of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Condensed Consolidated Statement of Comprehensive Income
Net actuarial gains (losses) and amortization of net actuarial (losses) and prior service (cost) and credits, taxes	$ 12	$ 9
Unrealized (losses) gains on marketable equity securities, taxes	53	0
Net (losses) gains for derivative instruments designated as cash flow hedges, taxes	$ (24)	$ (22)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheet - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Current Assets:
Cash and cash equivalents	$ 8,706	$ 18,620
Short-term investments	154	155
Trade receivables, less allowances of $263 in 2017 and $250 in 2016	4,510	3,248
Inventories:
Finished products	2,704	1,624
Work in process	509	294
Materials	782	516
Total inventories	3,995	2,434
Prepaid expenses and other receivables	1,964	1,806
Current assets held for disposition		513
Total Current Assets	19,329	26,776
Investments	1,756	2,947
Property and Equipment, at Cost:
Property and equipment, at cost	14,172	12,366
Less: accumulated depreciation and amortization	6,907	6,661
Net property and equipment	7,265	5,705
Intangible assets, net of amortization	19,405	4,539
Goodwill	21,353	7,683
Deferred income taxes and other assets	1,779	2,263
Non-current assets held for disposition		2,753
Total Assets	70,887	52,666
Current Liabilities:
Short-term borrowings	207	1,322
Trade accounts payable	1,481	1,178
Salaries, wages and commissions	802	752
Other accrued liabilities	3,506	2,581
Dividends payable	461	391
Income taxes payable	186	188
Current portion of long-term debt	3	3
Current liabilities held for disposition		245
Total Current Liabilities	6,646	6,660
Long-term debt	23,764	20,681
Post-employment obligations, deferred income taxes and other long-term liabilities	8,930	4,549
Non-current liabilities held for disposition		59
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: 2017: 1,960,925,194; 2016: 1,707,475,455	22,886	13,027
Common shares held in treasury, at cost - Shares: 2017: 225,653,140; 2016: 234,606,250	(10,379)	(10,791)
Earnings employed in the business	25,387	25,565
Accumulated other comprehensive income (loss)	(6,532)	(7,263)
Total Abbott Shareholders' Investment	31,362	20,538
Noncontrolling Interests in Subsidiaries	185	179
Total Shareholders' Investment	31,547	20,717
Total Liabilities and Shareholders' Investment	$ 70,887	$ 52,666

Condensed Consolidated Balance6

Condensed Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Condensed Consolidated Balance Sheet
Trade receivables, allowances (in dollars)	$ 263	$ 250
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	1,960,925,194	1,707,475,455
Common shares held in treasury, shares	225,653,140	234,606,250

Condensed Consolidated Stateme7

Condensed Consolidated Statement of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash Flow From (Used in) Operating Activities:
Net earnings	$ 419	$ 316
Adjustments to reconcile earnings to net cash from (used in) operating activities -
Depreciation	252	203
Amortization of intangible assets	522	144
Share-based compensation	171	152
Impact of currency devaluation		477
Amortization of inventory step-up	392
Gain on sale of businesses	(1,151)	(25)
Trade receivables	30	(4)
Inventories	(162)	(95)
Other, net	101	(1,261)
Net Cash From (Used in) Operating Activities	574	(93)
Cash Flow From (Used in) Investing Activities:
Acquisitions of property and equipment	(272)	(243)
Acquisitions of businesses and technologies, net of cash acquired	(13,027)
Proceeds from business disposition	5,472	25
Proceeds from the sale of Mylan N.V. shares	1,685
Sales (purchases) of investment securities, net	(15)	446
Other	3	(2)
Net Cash From (Used in) Investing Activities	(6,154)	226
Cash Flow From (Used in) Financing Activities:
Net (repayments of) short-term debt and other	(1,455)	(583)
Repayments of long-term debt	(2,505)	(7)
Payment of contingent consideration	(13)	(25)
Purchases of common shares	(95)	(519)
Proceeds from stock options exercised	129	87
Dividends paid	(460)	(385)
Net Cash (Used in) Financing Activities	(4,399)	(1,432)
Effect of exchange rate changes on cash and cash equivalents	65	(368)
Net Decrease in Cash and Cash Equivalents	(9,914)	(1,667)
Cash and Cash Equivalents, Beginning of Year	18,620	5,001
Cash and Cash Equivalents, End of Period	$ 8,706	$ 3,334

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2017
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, 2016. The consolidated financial statements include the accounts of the parent company and subsidiaries, after elimination of intercompany transactions. In March 2016, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) 2016-09, Improvements to Employee Share-Based Payment Accounting . ASU 2016-09 modifies several aspects of the accounting for share-based payment transactions, including the accounting for income taxes and classification on the statement of cash flows. Abbott adopted the standard in the first quarter of 2017 and the following changes were made to the presentation of Abbott’s financial statements: · All excess tax benefits or tax deficiencies are now recognized as income tax benefit or expense as applicable. Previously, Abbott recorded the benefits to Shareholders’ Investment. The tax benefit recorded in Abbott’s Condensed Consolidated Statement of Earnings for the first quarter of 2017 was $38 million. The standard does not permit retrospective presentation of this benefit in prior years. · The tax benefit or deficiency is required to be classified as an operating activity in the statement of cash flows. Previously, it was required to be classified within financing activities. Abbott has adopted this standard on a prospective basis and has not revised the classification of the excess tax benefit in the prior year’s Condensed Consolidated Statement of Cash Flows.

Discontinued Operations

Discontinued Operations	3 Months Ended
	Mar. 31, 2017
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. 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. In April 2015, Abbott sold 40.25 million of its 110 million ordinary shares of Mylan N.V. As a result of this sale, Abbott’s ownership interest in Mylan N.V. decreased to approximately 14%. In March 2017, Abbott sold 44 million ordinary shares of Mylan N.V. and received $1.685 billion in proceeds. Abbott recorded an immaterial pre-tax gain, which 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 from approximately 14% to approximately 4.8%. 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. On January 1, 2013, Abbott completed the separation of AbbVie Inc. (AbbVie), which was formed to hold Abbott’s research-based proprietary pharmaceuticals business. 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 reflect the recognition of a net tax benefit of $33 million and $244 million in the first quarter of 2017 and 2016, respectively, as a result of the resolution of various tax positions primarily related to AbbVie’s operations for years prior to the separation.

Assets and Liabilities Held for

Assets and Liabilities Held for Disposition	3 Months Ended
	Mar. 31, 2017
Assets and Liabilities Held for Disposition
Assets and Liabilities Held for Disposition	Note 3 — Assets and Liabilities Held for Disposition In September 2016, Abbott announced that it entered into a definitive agreement to sell Abbott Medical Optics (AMO), its vision care business, to Johnson & Johnson for $4.325 billion in cash, subject to customary purchase price adjustments for cash, debt and working capital. The decision to sell AMO reflects Abbott’s proactive shaping of its portfolio in line with its strategic priorities. In February 2017, Abbott completed the sale of AMO to Johnson & Johnson and recognized a pre-tax gain of $1.151 billion, which is reported in the Other (income) expense, net line of the Condensed Consolidated Statement of Earnings in the first quarter of 2017. Abbott recorded an after-tax gain of $721 million in the first quarter of 2017 related to the sale of AMO. The operating results of AMO up through the date of sale continued to be included in Earnings from Continuing Operations as they did not qualify for reporting as discontinued operations. For the three months ended March 31, 2017 and 2016, AMO’s losses before taxes were $18 million and $57 million, respectively. The following assets and liabilities of this business were reported as held for disposition in Abbott’s Condensed Consolidated Balance Sheet as of December 31, 2016: (in millions) December 31, Trade receivables, net $ Total inventories Prepaid expenses and other current assets Current assets held for disposition Net property and equipment Intangible assets, net of amortization Goodwill 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	3 Months Ended
	Mar. 31, 2017
Supplemental Financial Information
Supplemental Financial Information	Note 4 — 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 March 31, 2017 and 2016 were $384 million and $55 million, respectively. Net earnings allocated to common shares for the three months ended March 31, 2017 and 2016 were $417 million and $315 million, respectively. Other, net in Net cash from operating activities in the Condensed Consolidated Statement of Cash Flows for the first three months of 2017 and 2016 includes the effects of contributions to defined benefit plans of $283 million and $491 million, respectively, and the post-employment medical and dental benefit plans of $11 million in 2017 and $9 million in 2016. The first quarter of 2017 also includes the impact of approximately $430 million of tax expense related to business dispositions, which has not yet been paid, and is taxed at a discrete tax rate. The first quarter of 2016 included the non-cash impact of approximately $390 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 $125 million related to the disposition of businesses. The foreign currency loss related to Venezuela in the first quarter of 2016 reduced Abbott’s cash by approximately $405 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 exchange 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 March 31, 2017, Abbott’s Venezuelan operations represented approximately 0.02% 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 March 31, 2017 and December 31, 2016 are as follows: Long-term Investments March 31, December 31, (in millions) 2017 2016 Equity securities $ $ Other Total $ $ As discussed in Note 2, in the first quarter of 2017, Abbott sold 44 million ordinary shares of Mylan N.V., thereby reducing Abbott’s equity securities by approximately $1.7 billion. Abbott’s equity securities as of March 31, 2017, include approximately $338 million of investments in mutual funds that are held in a rabbi trust and were acquired as part of the St. Jude Medical, Inc. (St. Jude Medical) business acquisition. These investments, which are specifically designated as available for the purpose of paying benefits under a deferred compensation plan, are not available for general corporate purposes and are subject to creditor claims in the event of insolvency.

Other Comprehensive Income

Other Comprehensive Income	3 Months Ended
	Mar. 31, 2017
Other Comprehensive Income
Other Comprehensive Income	Note 5 — Other Comprehensive Income The components of the changes in other comprehensive income from continuing operations, net of income taxes, are as follows: Three Months Ended March 31 Cumulative Foreign Net Actuarial Cumulative Cumulative Gains (in millions) 2017 2016 2017 2016 2017 2016 2017 2016 Balance at December 31, 2016 and 2015 $ ) $ ) $ ) $ ) $ ) $ $ $ Impact of business dispositions — — — — — Other comprehensive (loss) income before reclassifications — — ) ) ) Amounts reclassified from accumulated other comprehensive income — — ) — ) Net current period comprehensive income (loss) ) ) ) Balance at March 31 $ ) $ ) $ ) $ ) $ $ ) $ ) $ ) Reclassified amounts for foreign currency translation are recorded in the Condensed Consolidated Statement of Earnings as Net foreign exchange (gain) loss; 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 is included as a component of net periodic benefit plan costs; see Note 13 for additional details.

Business Acquisitions

Business Acquisitions	3 Months Ended
	Mar. 31, 2017
Business Acquisitions
Business Acquisitions	Note 6 — Business Acquisitions On January 4, 2017, Abbott completed the acquisition of St. Jude Medical, a global medical device manufacturer, for approximately $23.6 billion, including approximately $13.6 billion in cash and approximately $10 billion in Abbott common shares, which represented approximately 254 million shares of Abbott common stock, based on Abbott’s closing stock price on the acquisition date. As part of the acquisition, approximately $5.9 billion of St. Jude Medical’s debt was assumed, repaid or refinanced by Abbott. The transaction provides expanded opportunities for future growth and is an important part of the company’s ongoing effort to develop a strong, diverse portfolio of devices, diagnostics, nutritionals and branded generic pharmaceuticals. The combined company will compete in nearly every area of the cardiovascular market, as well as in the neuromodulation market. Under the terms of the agreement, for each St. Jude Medical common share, St. Jude Medical shareholders received $46.75 in cash and 0.8708 of an Abbott common share. At an Abbott stock price of $39.36, which reflects the closing price on January 4, 2017, this represented a value of approximately $81 per St. Jude Medical common share and total purchase consideration of $23.6 billion. The cash portion of the acquisition was funded through a combination of medium and long-term debt issued in November 2016 and a $2.0 billion 120-day senior unsecured bridge term loan facility which was subsequently repaid. The preliminary allocation of the fair value of the St. Jude Medical acquisition is shown in the table below. The allocation of the fair value of the acquisition will be finalized when the valuation is completed and differences between the preliminary and final allocation could be material. (in billions) Acquired intangible assets, non-deductible $ Goodwill, non-deductible Acquired net tangible assets Deferred income taxes recorded at acquisition ) Net debt ) Total preliminary allocation of fair value $ The goodwill is primarily attributable to expected synergies from combining operations as well as intangible assets that do not qualify for separate recognition. The acquired tangible assets consist primarily of trade accounts receivable of approximately $1.2 billion, inventory of approximately $1.7 billion, other current assets of $207 million, property and equipment of approximately $1.5 billion, and other long-term assets of $480 million. The acquired tangible liabilities consist of trade accounts payable and other current liabilities of approximately $1.0 billion and other non-current liabilities of approximately $655 million. If the acquisition of St. Jude Medical had occurred at the beginning of 2016, unaudited pro forma consolidated net sales would have been approximately $6.3 billion and unaudited pro forma consolidated net loss would have been approximately $470 million for the first quarter of 2016, which includes the amortization of approximately $390 million of inventory step-up and $400 million of intangibles related to St. Jude Medical. The unaudited pro forma information is not necessarily indicative of the consolidated results of operations that would have been realized had the St. Jude Medical acquisition been completed as of the beginning of 2016, nor is it meant to be indicative of future results of operations that the combined entity will experience. In the first quarter of 2017, consolidated Abbott results include $1.4 billion of sales and a pre-tax loss of approximately $576 million related to the St. Jude Medical acquisition, including approximately $400 million of intangible amortization and $390 million of inventory step-up amortization. It excludes acquisition, integration and restructuring-related costs. In 2016, Abbott and St. Jude Medical agreed to sell certain businesses to Terumo Corporation for approximately $1.12 billion. The sale included the St. Jude Medical Angio-Seal™ and Femoseal™ vascular closure and Abbott’s Vado® Steerable Sheath businesses. The sale closed on January 20, 2017 and no gain or loss was recorded in the Condensed Consolidated Statement of Earnings. On January 30, 2016, Abbott entered into a definitive agreement to acquire Alere Inc. (Alere), a diagnostic device and service provider, for $56.00 per common share in cash. On April 13, 2017, Abbott and Alere amended the terms of the agreement to reduce the purchase price to $51.00 per common share. The amended terms reduce the originally expected equity value by approximately $500 million to a new expected equity value of approximately $5.3 billion. The acquisition is expected to close by the end of the third quarter of 2017, subject to the approval of Alere shareholders and the satisfaction of customary closing conditions, including applicable regulatory approvals. Under the amended terms of the acquisition agreement, the date by which necessary regulatory approvals must be received has been extended to September 30, 2017. The companies also agreed to dismiss their respective lawsuits. The acquisition is expected to significantly expand Abbott’s global diagnostics presence and leadership. Abbott expects to utilize a combination of cash on hand and debt to fund the acquisition. Alere’s net debt, which totaled $2.4 billion at September 30, 2016, will be assumed or refinanced by Abbott.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets
Goodwill and Intangible Assets	Note 7 — Goodwill and Intangible Assets The total amount of goodwill reported was $21.353 billion at March 31, 2017 and $7.683 billion at December 31, 2016. Goodwill increased by $14.6 billion during the quarter due to the completion of the St. Jude Medical acquisition, partially offset by a decrease of $1.1 billion due to the sale of certain businesses to Terumo Corporation. Foreign currency translation adjustments increased goodwill by approximately $198 million in the first quarter of 2017. The amount reported at December 31, 2016 excludes goodwill reported in non-current assets held for disposition. As part of the sale of AMO in the first quarter of 2017, approximately $2.0 billion of goodwill was included as part of the net assets sold. The amount of goodwill related to reportable segments at March 31, 2017 was $3.1 billion for the Established Pharmaceutical Products segment, $286 million for the Nutritional Products segment, $417 million for the Diagnostic Products segment, and $16.6 billion for the Cardiovascular and Neuromodulation Products segment. The Cardiovascular and Neuromodulation Products segment includes the amount previously reported under Abbott’s Vascular Products segment as well as the goodwill related to the St. Jude Medical acquisition. There was no significant reduction of goodwill relating to impairments. The gross amount of amortizable intangible assets, primarily product rights and technology was $21.1 billion as of March 31, 2017 and $10.4 billion as of December 31, 2016, and accumulated amortization was $6.6 billion as of March 31, 2017 and $6.2 billion as of December 31, 2016. The gross amount of amortizable intangible assets increased by $10.7 billion during the quarter due to the completion of the St. Jude Medical acquisition. Foreign currency translation adjustments increased intangible assets by $107 million during the quarter. The December 31, 2016 amounts exclude net intangible assets reported in non-current assets held for disposition. As part of the sale of AMO in the first quarter of 2017, approximately $529 million of net intangible assets were included in the net assets sold. Indefinite-lived intangible assets, which relate to in-process research and development acquired in a business combination, were approximately $4.9 billion and $349 million as of March 31, 2017 and December 31, 2016, respectively. Indefinite-lived intangible assets increased by $4.6 billion due to the completion of the St. Jude Medical acquisition. In the first quarter 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 $2.1 billion in 2017, $2.1 billion in 2018, $2.1 billion in 2019, $2.1 billion in 2020 and $2.0 billion in 2021. Amortizable intangible assets are amortized over 2 to 20 years (weighted average 11 years).

Restructuring Plans

Restructuring Plans	3 Months Ended
	Mar. 31, 2017
Restructuring Plans
Restructuring Plans	Note 8 — Restructuring Plans In 2017, Abbott management approved restructuring plans as part of the integration of the acquisition of St. Jude Medical into the cardiovascular and neuromodulation segment to leverage economies of scale and reduce costs. In the first three months of 2017, charges of approximately $121 million, including one-time employee termination benefits were recorded as Selling, general and administrative expense. Abbott also assumed restructuring liabilities of approximately $20 million as part of the St Jude Medical acquisition. The following summarizes the activity for the first three months of 2017 related to these actions and the status of the related accrual as of March 31, 2017: (in millions) Liabilities assumed as part of business acquisition $ Restructuring charges recorded in 2017 Payments and other adjustments ) Accrued balance at March 31, 2017 $ From 2014 to 2017, Abbott management approved plans to streamline operations in order to reduce costs and improve efficiencies in various Abbott businesses including the nutritional and established pharmaceuticals businesses. In the first three months of 2017, charges of approximately $10 million were recognized, of which approximately $6 million is recorded in Research and development and approximately $4 million as Selling, general and administrative expense. The following summarizes the activity for the first three months of 2017 related to these restructuring actions and the status of the related accrual as of March 31, 2017: (in millions) Accrued balance at December 31, 2016 $ Restructuring charges recorded in 2017 Payments and other adjustments ) Accrued balance at March 31, 2017 $

Incentive Stock Programs

Incentive Stock Programs	3 Months Ended
	Mar. 31, 2017
Incentive Stock Programs
Incentive Stock Programs	Note 9 — Incentive Stock Programs In connection with the completion of the St. Jude Medical acquisition, unvested St. Jude Medical stock options and restricted stock units were assumed by Abbott and converted into Abbott options and restricted stock units (as applicable) of substantially equivalent value, in accordance with the merger agreement. The number of shares underlying the converted options was 7,364,571 at a weighted average exercise price of $30.50. The number of restricted stock units converted was 2,324,500 at a weighted average grant date fair value of $37.69. In the first three months of 2017, Abbott granted 4,026,729 stock options, 544,153 restricted stock awards and 6,738,866 restricted stock units under its incentive stock programs. At March 31, 2017, approximately 32 million shares were reserved for future grants. Information regarding the number of options outstanding and exercisable at March 31, 2017 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 March 31, 2017 amounted to approximately $470 million which is expected to be recognized over the next three years.

Debt and Lines of Credit

Debt and Lines of Credit	3 Months Ended
	Mar. 31, 2017
Debt and Lines of Credit
Debt and Lines of Credit	Note 10 — Debt and Lines of Credit In the first quarter of 2017, as part of the acquisition of St. Jude Medical, Abbott’s long-term debt increased due to the assumption of outstanding debt previously issued by St. Jude Medical. Abbott exchanged certain St. Jude Medical debt obligations with an aggregate principal amount of approximately $2.9 billion for debt issued by Abbott which consists of: Principal Amount 2.00% Senior Notes due 2018 $ 473.8 million 2.80% Senior Notes due 2020 $ 483.7 million 3.25% Senior Notes due 2023 $ 818.4 million 3.875% Senior Notes due 2025 $ 490.7 million 4.75% Senior Notes due 2043 $ 639.1 million Following such exchange, approximately $194.2 million of existing St. Jude Medical notes remain outstanding across the five series of existing notes which have the same coupons and maturities as those listed above. There were no significant costs associated with the exchange of debt. In addition, during the first quarter of 2017, Abbott assumed and subsequently repaid the following St. Jude Medical debt obligations: Term loan due 2020 $ 2.3 billion Yen-denominated notes due 2017 and 2020 $ 179 million Yen-denominated credit facilities $ 55 million Commercial paper borrowings $ 220 million On January 4, 2017, as part of funding the cash portion of the St. Jude Medical acquisition, Abbott borrowed $2.0 billion under a 120-day senior unsecured bridge term loan facility. This facility was repaid during the first quarter of 2017. During the first quarter of 2017, Abbott issued 364-day yen-denominated debt, of which $198 million was outstanding at March 31, 2017. Abbott also paid off a $479 million yen-denominated short-term debt. 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. This commitment, which was automatically extended for up to 90 days on January 29, 2017, expired on April 30, 2017 and was not renewed since Abbott does not need this bridge facility to finance the Alere acquisition. The fees associated with the bridge facilities were recognized in interest expense.

Financial Instruments, Derivati

Financial Instruments, Derivatives and Fair Value Measures	3 Months Ended
	Mar. 31, 2017
Financial Instruments, Derivatives and Fair Value Measures
Financial Instruments, Derivatives and Fair Value Measures	Note 11 — 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 $3.2 billion at March 31, 2017 and $2.6 billion at December 31, 2016 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 March 31, 2017 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 2017 and 2016. 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 March 31, 2017 and December 31, 2016, Abbott held the gross notional amount of $14.0 billion and $14.9 billion, respectively, of such foreign currency forward exchange contracts. In March 2017, Abbott repaid its $479 million foreign denominated short-term debt which was designated as a hedge of the net investment in a foreign subsidiary. At December 31, 2016, the value of this short-term debt was $454 million and changes in the fair value of the debt up through the date of repayment due to changes in exchange rates were recorded in Accumulated other comprehensive income (loss), net of tax. Abbott is a party to interest rate hedge contracts totaling approximately $5.5 billion at March 31, 2017 and December 31, 2016 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 2017 and 2016. The following table summarizes the amounts and location of certain derivative financial instruments as of March 31, 2017 and December 31, 2016: Fair Value - Assets Fair Value - Liabilities (in millions) March 31, Dec. 31, Balance Sheet Caption March 31, Dec. 31, Balance Sheet Caption Interest rate swaps designated as fair value hedges $ — $ Deferred income taxes and other assets $ $ Post-employment obligations, deferred income taxes and other long-term liabilities 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 the amounts and location of income (expense) and gain (loss) reclassified into income in the first three months of 2017 and 2016 and for certain other derivative financial instruments. The amount of hedge ineffectiveness was not significant in 2017 and 2016 for these hedges. Gain (loss) Recognized in Income (expense) and (in millions) 2017 2016 2017 2016 Income Statement 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 Interest rate swaps designated as fair value hedges n/a n/a ) Interest expense Gains of $9 million and losses of $2 million were recognized in the first three months of 2017 and 2016, 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 (gain) loss 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 March 31, 2017 and December 31, 2016 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. March 31, 2017 December 31, 2016 (in millions) Carrying Fair Carrying Fair Investment Securities: Equity securities $ $ $ $ Other Total Long-term Debt ) ) ) ) Foreign Currency Forward Exchange Contracts: Receivable position (Payable) position ) ) ) ) Interest Rate Hedge Contracts: Receivable position — — (Payable) 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 Quoted Significant Significant March 31, 2017: Equity securities $ $ $ — $ — Interest rate swap derivative financial instruments — — — — Foreign currency forward exchange contracts — — Total Assets $ $ $ $ — Fair value of hedged long-term debt $ $ — $ $ — Interest rate swap derivative financial instruments — — Foreign currency forward exchange contracts — — Contingent consideration related to business combinations — — Total Liabilities $ $ — $ $ December 31, 2016: Equity securities $ $ $ — $ — Interest rate swap derivative financial instruments — — Foreign currency forward exchange contracts — — Total Assets $ $ $ $ — Fair value of hedged long-term debt $ $ — $ $ — Interest rate swap derivative financial instruments — — 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. In the first quarter of 2017, Abbott sold 44 million ordinary shares of Mylan N.V which had a value of $1.7 billion. As a result of this sale, Abbott’s ownership interest in Mylan N.V. decreased from approximately 14% to approximately 4.8%. 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. In the first quarter of 2017, the increase in the fair value of the contingent consideration was primarily due to the assumption of St. Jude Medical’s contingent consideration obligations.

Litigation and Environmental Ma

Litigation and Environmental Matters	3 Months Ended
	Mar. 31, 2017
Litigation and Environmental Matters
Litigation and Environmental Matters	Note 12 — 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 $40 million to $45 million. The recorded accrual balance at March 31, 2017 for these proceedings and exposures was approximately $45 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	3 Months Ended
	Mar. 31, 2017
Post-Employment Benefits
Post-Employment Benefits	Note 13 — 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 ended March 31 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 (in millions) March 31, March 31, March 31, March 31, 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) — — ) ) Net cost — continuing operations $ $ $ $ In the first quarter of 2017, Abbott recognized a $10 million curtailment gain related to the disposition of AMO. Abbott funds its domestic defined benefit plans according to IRS funding limitations. International pension plans are funded according to similar regulations. In the first quarters of 2017 and 2016, $283 million and $491 million, respectively, were contributed to defined benefit plans and $11 million and $9 million, respectively, were contributed to the post-employment medical and dental benefit plans.

Taxes on Earnings

Taxes on Earnings	3 Months Ended
	Mar. 31, 2017
Taxes on Earnings
Taxes on Earnings	Note 14 — 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 quarter of 2017, taxes on earnings from continuing operations include $430 million of tax expense related to the gain on the sale of the AMO business, which is taxed at a discrete tax rate. Earnings from discontinued operations, net of tax, in the first quarter of 2017 reflected the recognition of $33 million of net tax benefits primarily as a result of the resolution of various tax positions related to prior years which decreased the gross amount of unrecognized tax benefits by $33 million. In the first quarter of 2016, taxes on earnings from continuing operations included the impact of a net tax benefit of approximately $140 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 quarter of 2016 reflected the recognition of $247 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. 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 $200 million to $350 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 are settled through 2013 and St. Jude Medical’s federal income tax returns are settled through 2013 except for one item.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2017
Segment Information
Segment Information	Note 15 — 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. On January 4, 2017, Abbott completed the acquisition of St. Jude Medical. Beginning with the first quarter of 2017, Abbott’s cardiovascular and neuromodulation business includes the results of its historical Vascular Products segment and the results of the businesses acquired from St. Jude Medical from the date of acquisition. 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. Cardiovascular and Neuromodulation Products — Worldwide sales of rhythm management, electrophysiology, heart failure, vascular, structural heart and neuromodulation products. Non-reportable segments include AMO through the date of sale and Diabetes Care. 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. As a result of the acquisition of St. Jude Medical, the total assets of the Cardiovascular and Neuromodulation segment increased from $1.425 billion at December 31, 2016 to $5.162 billion at March 31, 2017. 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. Three Months Ended March 31 Net Sales to Operating (in millions) 2017 2016 2017 2016 Established Pharmaceutical Products $ $ $ $ Nutritional Products Diagnostic Products Cardiovascular and Neuromodulation 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 in 2017 includes the gain on the sale of the AMO business, partially offset by inventory step-up amortization, restructuring charges and integration costs associated with the acquisition of St. Jude Medical. Other, net in 2016 includes the $477 million foreign currency loss related to operations in Venezuela and the $43 million impairment of an in-process research and development project related to a non-reportable segment.

Assets and Liabilities Held f23

Assets and Liabilities Held for Disposition (Tables)	3 Months Ended
	Mar. 31, 2017
Assets and Liabilities Held for Disposition
Summary of assets and liabilities held for disposition	(in millions) December 31, Trade receivables, net $ Total inventories Prepaid expenses and other current assets Current assets held for disposition Net property and equipment Intangible assets, net of amortization Goodwill 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 Inform24

Supplemental Financial Information (Tables)	3 Months Ended
	Mar. 31, 2017
Supplemental Financial Information
Components of long-term investments	Long-term Investments March 31, December 31, (in millions) 2017 2016 Equity securities $ $ Other Total $ $

Other Comprehensive Income (Tab

Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2017
Other Comprehensive Income
Schedule of other comprehensive income	Three Months Ended March 31 Cumulative Foreign Net Actuarial Cumulative Cumulative Gains (in millions) 2017 2016 2017 2016 2017 2016 2017 2016 Balance at December 31, 2016 and 2015 $ ) $ ) $ ) $ ) $ ) $ $ $ Impact of business dispositions — — — — — Other comprehensive (loss) income before reclassifications — — ) ) ) Amounts reclassified from accumulated other comprehensive income — — ) — ) Net current period comprehensive income (loss) ) ) ) Balance at March 31 $ ) $ ) $ ) $ ) $ $ ) $ ) $ )

Business Acquisitions (Tables)

Business Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2017
Business Acquisitions
Schedule of allocation of fair value of the acquisition	(in billions) Acquired intangible assets, non-deductible $ Goodwill, non-deductible Acquired net tangible assets Deferred income taxes recorded at acquisition ) Net debt ) Total preliminary allocation of fair value $

Restructuring Plans (Tables)

Restructuring Plans (Tables)	3 Months Ended
	Mar. 31, 2017
Restructuring Plan 2017
Restructuring costs
Summary of restructuring activity	(in millions) Liabilities assumed as part of business acquisition $ Restructuring charges recorded in 2017 Payments and other adjustments ) Accrued balance at March 31, 2017 $
Restructuring Plan from 2014 to 2017
Restructuring costs
Summary of restructuring activity	(in millions) Accrued balance at December 31, 2016 $ Restructuring charges recorded in 2017 Payments and other adjustments ) Accrued balance at March 31, 2017 $

Incentive Stock Programs (Table

Incentive Stock Programs (Tables)	3 Months Ended
	Mar. 31, 2017
Incentive Stock Programs
Schedule of stock options outstanding and exercisable	Outstanding Exercisable Number of shares Weighted average remaining life ( years ) Weighted average exercise price $ $ Aggregate intrinsic value ( in millions ) $ $

Debt and Lines of Credit (Table

Debt and Lines of Credit (Tables)	3 Months Ended
	Mar. 31, 2017
Debt and Lines of Credit
Schedule of debt assumed and exchanged	Principal Amount 2.00% Senior Notes due 2018 $ 473.8 million 2.80% Senior Notes due 2020 $ 483.7 million 3.25% Senior Notes due 2023 $ 818.4 million 3.875% Senior Notes due 2025 $ 490.7 million 4.75% Senior Notes due 2043 $ 639.1 million
Schedule of debt assumed and subsequently repaid	Term loan due 2020 $ 2.3 billion Yen-denominated notes due 2017 and 2020 $ 179 million Yen-denominated credit facilities $ 55 million Commercial paper borrowings $ 220 million

Financial Instruments, Deriva30

Financial Instruments, Derivatives and Fair Value Measures (Tables)	3 Months Ended
	Mar. 31, 2017
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) March 31, Dec. 31, Balance Sheet Caption March 31, Dec. 31, Balance Sheet Caption Interest rate swaps designated as fair value hedges $ — $ Deferred income taxes and other assets $ $ Post-employment obligations, deferred income taxes and other long-term liabilities 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 Income (expense) and (in millions) 2017 2016 2017 2016 Income Statement 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 Interest rate swaps designated as fair value hedges n/a n/a ) Interest expense
Schedule of carrying values and fair values of certain financial instruments	March 31, 2017 December 31, 2016 (in millions) Carrying Fair Carrying Fair Investment Securities: Equity securities $ $ $ $ Other Total Long-term Debt ) ) ) ) Foreign Currency Forward Exchange Contracts: Receivable position (Payable) position ) ) ) ) Interest Rate Hedge Contracts: Receivable position — — (Payable) position ) ) ) )
Schedule of assets and liabilities measured at fair value on a recurring basis	Basis of Fair Value Measurement (in millions) Outstanding Quoted Significant Significant March 31, 2017: Equity securities $ $ $ — $ — Interest rate swap derivative financial instruments — — — — Foreign currency forward exchange contracts — — Total Assets $ $ $ $ — Fair value of hedged long-term debt $ $ — $ $ — Interest rate swap derivative financial instruments — — Foreign currency forward exchange contracts — — Contingent consideration related to business combinations — — Total Liabilities $ $ — $ $ December 31, 2016: Equity securities $ $ $ — $ — Interest rate swap derivative financial instruments — — Foreign currency forward exchange contracts — — Total Assets $ $ $ $ — Fair value of hedged long-term debt $ $ — $ $ — Interest rate swap derivative financial instruments — — Foreign currency forward exchange contracts — — Contingent consideration related to business combinations — — Total Liabilities $ $ — $ $

Post-Employment Benefits (Table

Post-Employment Benefits (Tables)	3 Months Ended
	Mar. 31, 2017
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 (in millions) March 31, March 31, March 31, March 31, 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) — — ) ) Net cost — continuing operations $ $ $ $

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2017
Segment Information
Schedule of segment information - net sales and operating earnings	Three Months Ended March 31 Net Sales to Operating (in millions) 2017 2016 2017 2016 Established Pharmaceutical Products $ $ $ $ Nutritional Products Diagnostic Products Cardiovascular and Neuromodulation 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 in 2017 includes the gain on the sale of the AMO business, partially offset by inventory step-up amortization, restructuring charges and integration costs associated with the acquisition of St. Jude Medical. Other, net in 2016 includes the $477 million foreign currency loss related to operations in Venezuela and the $43 million impairment of an in-process research and development project related to a non-reportable segment.

Basis of Presentation - (Detail

Basis of Presentation - (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Basis of Presentation
Tax benefit	$ 350	$ (54)
Accounting Standards Update (ASU) 2016-09
Basis of Presentation
Tax benefit	$ (38)

Discontinued Operations - By Di

Discontinued Operations - By Disposal (Details) - USD ($) shares in Thousands, $ in Millions	Feb. 27, 2015	Mar. 31, 2017	Apr. 30, 2015	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2016
Discontinued Operations
Proceeds from the sale of Mylan N.V. shares				$ 1,685
After tax Gain					$ 16
Mylan N. V. (Investee)
Discontinued Operations
Number of shares in investment sold		44,000	40,250	44,000
Proceeds from the sale of Mylan N.V. shares		$ 1,685		$ 1,700
Ownership interest (as a percent)		4.80%	14.00%	4.80%			14.00%
Developed markets branded generics pharmaceuticals business | Mylan N. V. (Investee) | Mylan
Discontinued Operations
Number of shares received for sale of business	110,000
Percentage of shares received for sale of business	22.00%
Animal Health Business
Discontinued Operations
Proceeds from the disposition of business					25	$ 230
After tax Gain					$ 16	$ 130

Discontinued Operations - AbbVi

Discontinued Operations - AbbVie (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Discontinued Operations, Disposed of by Means Other than Sale | AbbVie
Discontinued Operations
Tax benefit related to the resolution of various tax positions related to prior years	$ (33)	$ (244)

Assets and Liabilities Held f36

Assets and Liabilities Held for Disposition (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Disclosures
Earnings (losses) before taxes	$ 736	$ 2
Assets and liabilities held for disposition
Current assets held for disposition			$ 513
Current liabilities held for disposition			245
AMO | Dispositions held for sale
Disclosures
Sale consideration	4,325
After tax gain on sale of disposal group	721
Earnings (losses) before taxes	(18)	$ (57)
Assets and liabilities held for disposition
Trade receivables, net			222
Total inventories			240
Prepaid expenses and other current assets			51
Current assets held for disposition			513
Net property and equipment			247
Intangible assets, net of amortization			529
Goodwill			1,966
Deferred income taxes and other assets			11
Non-current assets held for disposition			2,753
Total assets held for disposition			3,266
Trade accounts payable			71
Salaries, wages, commissions and other accrued liabilities			174
Current liabilities held for disposition			245
Post-employment obligations, deferred income taxes and other long-term liabilities			59
Total liabilities held for disposition			$ 304
AMO | Dispositions held for sale | Other (income) expense, net
Disclosures
Pre-tax gain on sale of disposal group	$ 1,151

Supplemental Financial Inform37

Supplemental Financial Information - Income Statement (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Supplemental Financial Information
Earnings from continuing operations allocated to common shares	$ 384	$ 55
Net earnings allocated to common shares	$ 417	$ 315

Supplemental Financial Inform38

Supplemental Financial Information - Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flow disclosures
Tax expense (benefit) on gain or loss on sale of business	$ 430
Tax expense (benefit) from resolution of various tax positions related to prior years		$ (390)
Taxes paid related to disposal group		125
Cash impact from foreign currency loss	65	(368)
Venezuela
Cash flow disclosures
Cash impact from foreign currency loss		(405)
Defined Benefit Plans
Cash flow disclosures
Company contributions	283	491
Medical and Dental Plans
Cash flow disclosures
Company contributions	$ 11	$ 9

Supplemental Financial Inform39

Supplemental Financial Information - Foreign currency (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)	Mar. 31, 2017	Feb. 17, 2016	Feb. 16, 2016	Dec. 31, 2015
Foreign currency disclosures
Foreign currency exchange loss on remeasurement	$ 477
Venezuela
Foreign currency disclosures
Foreign currency exchange loss on remeasurement	$ 477
Abbott's total net assets from Venezuelan operations (as a percent)		0.02%
C E N C O E X
Foreign currency disclosures
Official rate to U.S. dollar					6.3
SICAD
Foreign currency disclosures
Official rate to U.S. dollar					13.5
SIMADI
Foreign currency disclosures
Official rate to U.S. dollar					200
D I P R O
Foreign currency disclosures
Official rate to U.S. dollar			10	6.3
D I C O M
Foreign currency disclosures
Official rate to U.S. dollar	263
Venezuelan bolivars
Foreign currency disclosures
Official rate to U.S. dollar					6.3

Supplemental Financial Inform40

Supplemental Financial Information - Investments (Details) - USD ($) shares in Thousands, $ in Millions	1 Months Ended		3 Months Ended
	Mar. 31, 2017	Apr. 30, 2015	Mar. 31, 2017	Dec. 31, 2016
Investments
Long-term Investments	$ 1,756		$ 1,756	$ 2,947
Proceeds from the sale of Mylan N.V. shares			$ 1,685
Mylan N. V. (Investee)
Investments
Number of shares in investment sold	44,000	40,250	44,000
Proceeds from the sale of Mylan N.V. shares	$ 1,685		$ 1,700
Equity securities
Investments
Long-term Investments	1,702		1,702	2,906
Equity securities | St Jude Medical
Investments
Securities in mutual funds held in a rabbi trust	338		$ 338
Equity securities | Mylan N. V. (Investee)
Investments
Number of shares in investment sold			44,000
Proceeds from the sale of Mylan N.V. shares			$ 1,700
Other
Investments
Long-term Investments	$ 54		$ 54	$ 41

Other Comprehensive Income (Det

Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Other comprehensive income from continuing operations, net of income taxes
Beginning of Period	$ 20,538
Other comprehensive income (loss)	582	$ (193)
End of Period	31,362
Cumulative Foreign Currency Translation Adjustments
Other comprehensive income from continuing operations, net of income taxes
Beginning of Period	(4,959)	(4,829)
Impact of business dispositions	142
Other comprehensive (loss) income before reclassifications	533	421
Other comprehensive income (loss)	533	421
End of Period	(4,284)	(4,408)
Net Actuarial Losses and Prior Service Costs and Credits
Other comprehensive income from continuing operations, net of income taxes
Beginning of Period	(2,284)	(1,958)
Impact of business dispositions	6
Amounts reclassified from accumulated other comprehensive income	34	18
Other comprehensive income (loss)	34	18
End of Period	(2,244)	(1,940)
Cumulative Unrealized Gains (Losses) on Marketable Equity Securities
Other comprehensive income from continuing operations, net of income taxes
Beginning of Period	(69)	65
Other comprehensive (loss) income before reclassifications	181	(543)
Amounts reclassified from accumulated other comprehensive income	(101)
Other comprehensive income (loss)	80	(543)
End of Period	11	(478)
Cumulative Gains (Losses) on Derivative Instruments Designated as Cash Flow Hedges
Other comprehensive income from continuing operations, net of income taxes
Beginning of Period	49	64
Impact of business dispositions	1
Other comprehensive (loss) income before reclassifications	(69)	(58)
Amounts reclassified from accumulated other comprehensive income	4	(31)
Other comprehensive income (loss)	(65)	(89)
End of Period	$ (15)	$ (25)

Business Acquisitions - St. Jud

Business Acquisitions - St. Jude Medical (Details) - USD ($) $ / shares in Units, $ in Millions	Apr. 13, 2017	Jan. 20, 2017	Jan. 04, 2017	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	Sep. 30, 2016	Jan. 30, 2016
Business acquisitions
Gain or loss on sale				$ 1,151	$ 25
Allocation of the fair value
Goodwill, non-deductible				21,353		$ 7,683
Alere
Business acquisitions
Debt, short-term and long-term							$ 2,400
St Jude Medical
Business acquisitions
Total consideration for business acquisition			$ 23,600
Cash paid for business acquisition			13,600
Issue of equity for business acquisition			$ 10,000
Number of equity shares issued for business acquisition			254,000,000
Debt assume, repaid, or refinanced			$ 5,900
Share price of shares received in acquisition per agreement (in dollars per share)			$ 46.75
Share received (in shares)			0.8708
Share price (in dollars per share)			$ 39.36
Expected value per common share (in dollars per share)			$ 81
Allocation of the fair value
Acquired intangible assets, non-deductible			$ 15,300
Goodwill, non-deductible			14,600
Acquired net tangible assets			3,400
Deferred income taxes recorded at acquisition			(4,400)
Net debt			(5,300)
Total preliminary allocation of fair value			23,600
Trade accounts receivable			1,200
Inventory			1,700
Other current assets			207
Property and equipment			1,500
Other long-term assets			480
Trade accounts payable and other current liabilities			1,000
Other noncurrent liabilities			$ 655
Pro forma financial information
Pro forma consolidated net sales				1,400	6,300
Pro forma pre-tax loss				576
Pro forma consolidated net loss					470
Amortization of inventory step-up				390	390
Amortization of intangibles				$ 400	$ 400
St Jude Medical | Terumo
Business acquisitions
Proceeds from sale of businesses		$ 1,120
Gain or loss on sale		$ 0
St Jude Medical | 120-day bridge loan
Business acquisitions
Maturity period			120 days
Proceeds from bridge loan			$ 2,000
Alere
Business acquisitions
Issue of equity for business acquisition	$ 5,300
Reduction of equity under amended terms	$ 500
Share price of shares received in acquisition per agreement (in dollars per share)	$ 51							$ 56

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Goodwill and intangible assets information
Goodwill	$ 21,353	$ 7,683
Foreign currency translation adjustments	198
Amount of reduction of goodwill relating to impairments	0
Established Pharmaceutical Products
Goodwill and intangible assets information
Goodwill	3,100
Nutritional Products
Goodwill and intangible assets information
Goodwill	286
Diagnostic Products
Goodwill and intangible assets information
Goodwill	417
Cardiovascular and Neuromodulation Products
Goodwill and intangible assets information
Goodwill	16,600
AMO | Dispositions held for sale
Goodwill and intangible assets information
Goodwill reclassified to Non-current assets held for disposition	2,000
St Jude Medical
Goodwill and intangible assets information
Goodwill acquired	14,600
St Jude Medical | Terumo
Goodwill and intangible assets information
Reductions of goodwill due to sale of certain businesses	$ 1,100

Goodwill and Intangible Asset44

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Goodwill and Intangible Assets
Gross amount of amortizable intangible assets	$ 21,100		$ 10,400
Accumulated amortization of intangible assets	6,600		6,200
Increase (decrease) in intangible assets due to foreign currency translation adjustment	107
Indefinite-lived intangible assets related to in-process research and development acquired in a business combination	4,900		$ 349
Estimated annual amortization expense, intangible assets, Full Fiscal Year 2017	2,100
Estimated annual amortization expense, intangible assets, 2018	2,100
Estimated annual amortization expense, intangible assets, 2019	2,100
Estimated annual amortization expense, intangible assets, 2020	2,100
Estimated annual amortization expense, intangible assets, 2021	$ 2,000
Non-reportable segment
Goodwill and Intangible Assets
Impairment of indefinite-lived intangible assets		$ 43
Minimum
Goodwill and Intangible Assets
Amortization period of intangible assets	2 years
Maximum
Goodwill and Intangible Assets
Amortization period of intangible assets	20 years
Weighted average
Goodwill and Intangible Assets
Amortization period of intangible assets	11 years
St Jude Medical
Goodwill and Intangible Assets
Amortizable intangible assets acquired	$ 10,700
Indefinite-lived intangible assets acquired	4,600
Dispositions held for sale | AMO
Goodwill and Intangible Assets
Net intangible assets moved to Non-current assets held for disposition	$ 529

Restructuring Plans (Details)

Restructuring Plans (Details) $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)
Restructuring Plan 2017
Restructuring reserve activity
Liabilities assumed as part of business combination	$ 20
Restructuring charges	121
Payments and other adjustments	(43)
Accrued balance at end of period	98
Restructuring Plan 2017 | Selling, general and administrative expense
Restructuring reserve activity
Restructuring charges	121
Restructuring Plan from 2014 to 2017
Restructuring reserve activity
Accrued balance at beginning of period	66
Restructuring charges	10
Payments and other adjustments	(15)
Accrued balance at end of period	61
Restructuring Plan from 2014 to 2017 | Research and development
Restructuring reserve activity
Restructuring charges	6
Restructuring Plan from 2014 to 2017 | Selling, general and administrative expense
Restructuring reserve activity
Restructuring charges	$ 4

Incentive Stock Programs (Detai

Incentive Stock Programs (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award
Incentive stock programs, shares reserved for future grants	32,000,000
Total unrecognized compensation cost | $	$ 470
Total unrecognized compensation cost, recognition period	3 years
Stock options
Share-based Compensation Arrangement by Share-based Payment Award
Stock options granted during the period (in shares)	4,026,729
Stock options outstanding, number of shares	42,692,261
Stock options outstanding, weighted-average remaining life	6 years
Stock options outstanding, weighted-average exercise price (in dollars per share) | $ / shares	$ 35.33
Aggregate intrinsic value of options outstanding | $	$ 403
Exercisable options, number of shares	25,325,001
Exercisable options, weighted-average remaining life	4 years 7 months 6 days
Exercisable options, weighted-average exercise price (in dollars per share) | $ / shares	$ 33.42
Aggregate intrinsic value of options exercisable | $	$ 288
Stock options | St Jude Medical
Share-based Compensation Arrangement by Share-based Payment Award
Stock options outstanding, weighted-average exercise price (in dollars per share) | $ / shares	$ 30.50
Number of awards converted as part of acquisition (in shares)	7,364,571
Restricted stock awards
Share-based Compensation Arrangement by Share-based Payment Award
Awards and units granted during period (in shares)	544,153
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award
Awards and units granted during period (in shares)	6,738,866
Restricted stock units | St Jude Medical
Share-based Compensation Arrangement by Share-based Payment Award
Number of awards converted as part of acquisition (in shares)	2,324,500
Awards and units outstanding, weighted-average grant-date fair value (in dollars per share) | $ / shares	$ 37.69

Debt and Lines of Credit (Detai

Debt and Lines of Credit (Details) $ in Millions	Jan. 04, 2017USD ($)	Feb. 29, 2016USD ($)	Mar. 31, 2017USD ($)NotesSeries	Dec. 31, 2016USD ($)
Debt Instrument
Number of series of existing notes | NotesSeries			5
Total, net of current maturities			$ 23,764	$ 20,681
Short-term debt outstanding			207	$ 1,322
2.00% Senior Notes Due 2018
Debt Instrument
Debt issued - principal amount			$ 473.8
Interest rate percentage			2.00%
2.80% Senior Notes Due 2020
Debt Instrument
Debt issued - principal amount			$ 483.7
Interest rate percentage			2.80%
3.25% Senior Notes Due 2023
Debt Instrument
Debt issued - principal amount			$ 818.4
Interest rate percentage			3.25%
3.875% Senior Notes Due 2025
Debt Instrument
Debt issued - principal amount			$ 490.7
Interest rate percentage			3.875%
4.75% Senior Notes Due 2043
Debt Instrument
Debt issued - principal amount			$ 639.1
Interest rate percentage			4.75%
Senior Notes
Debt Instrument
Debt issued - principal amount			$ 2,900
Debt exchange costs			0
Senior Notes | St Jude Medical
Debt Instrument
Debt outstanding			194.2
Term Loan Due 2020
Debt Instrument
Repayments of debt			2,300
Yen Denominated Notes
Debt Instrument
Repayments of debt			179
Yen Denominated Credit Facilities
Debt Instrument
Repayments of debt			55
Commercial Paper
Debt Instrument
Repayments of debt			$ 220
364-day Yen-denominated debt
Debt Instrument
Maturity period			364 days
Short-term debt outstanding			$ 198
Yen-denominated short-term debt
Debt Instrument
Debt paid off			479
364-day senior unsecured bridge term loan facility | Unfunded Loan Commitment
Debt Instrument
Maturity period		364 days
Maximum borrowing capacity		$ 9,000
Maximum extension period available automatically		90 days
120-day bridge loan | St Jude Medical
Debt Instrument
Repayments of debt			$ 2,000
Maturity period	120 days
Proceeds from bridge loan	$ 2,000

Financial Instruments, Deriva48

Financial Instruments, Derivatives and Fair Value Measures - Derivative Information (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Derivative instruments, notional amount and fair value
Fair Value - Assets	$ 241	$ 241	$ 284
Fair Value - Liabilities	200	200	610
Designated as hedging instrument | Short-term borrowings | Net investment hedges
Derivative instruments, notional amount and fair value
Fair Value - Liabilities			454
Repayment of short-term debt	479
Designated as hedging instrument | Interest rate swaps | Fair value hedges
Derivative instruments, notional amount and fair value
Notional amount	5,500	5,500	5,500
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			8
Designated as hedging instrument | Interest rate swaps | Post-employment obligations, deferred income taxes and other long-term liabilities | Fair value hedges
Derivative instruments, notional amount and fair value
Fair Value - Liabilities	92	92	74
Designated as hedging instrument | Foreign currency forward exchange contracts | Cash flow hedges
Derivative instruments, notional amount and fair value
Notional amount	3,200	$ 3,200	2,600
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	45	$ 45	99
Designated as hedging instrument | Foreign currency forward exchange contracts | Other accrued liabilities
Derivative instruments, notional amount and fair value
Fair Value - Liabilities	51	51	15
Not designated as hedging instrument | Foreign currency forward exchange contracts
Derivative instruments, notional amount and fair value
Notional amount	14,000	14,000	14,900
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	196	196	177
Not designated as hedging instrument | Foreign currency forward exchange contracts | Other accrued liabilities
Derivative instruments, notional amount and fair value
Fair Value - Liabilities	$ 57	$ 57	$ 67

Financial Instruments, Deriva49

Financial Instruments, Derivatives and Fair Value Measures - Derivative Instruments, Gain (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net investment hedges | Designated as hedging instrument
Gain (loss) on derivatives
Gain (loss) Recognized in Other Comprehensive Income (loss)	$ (25)	$ (32)
Interest rate swaps | Fair value hedges | Designated as hedging instrument | Interest expense
Gain (loss) on derivatives
Income (expense) and Gain (loss) Reclassified into Income	(26)	101
Foreign currency forward exchange contracts | Not designated as hedging instrument | Net foreign exchange (gain) loss
Gain (loss) on derivatives
Income (expense) and Gain (loss) Reclassified into Income	9	(2)
Foreign currency forward exchange contracts | Cash flow hedges | Designated as hedging instrument
Gain (loss) on derivatives
Gain (loss) Recognized in Other Comprehensive Income (loss)	(91)	(58)
Foreign currency forward exchange contracts | Cash flow hedges | Designated as hedging instrument | Cost of products sold
Gain (loss) on derivatives
Income (expense) and Gain (loss) Reclassified into Income	$ (5)	$ 31

Financial Instruments, Deriva50

Financial Instruments, Derivatives and Fair Value Measures - Carrying Values And Fair Values Of Certain Financial Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Fair value, asset and liability measures
Investments	$ 1,756	$ 2,947
Foreign currency forward exchange contracts, receivable position	241	284
Foreign currency forward exchange contracts, (payable) position	(200)	(610)
Equity securities
Fair value, asset and liability measures
Investments	1,702	2,906
Carrying Value
Fair value, asset and liability measures
Total long-term debt	(23,767)	(20,684)
Foreign currency forward exchange contracts, receivable position	241	276
Foreign currency forward exchange contracts, (payable) position	(108)	(82)
Interest rate hedge contracts, receivable position		8
Interest rate hedge contract, (payable) position	(92)	(74)
Carrying Value | Equity securities
Fair value, asset and liability measures
Investments	1,702	2,906
Carrying Value | Other
Fair value, asset and liability measures
Investments	54	41
Fair Value
Fair value, asset and liability measures
Total long-term debt	(24,349)	(21,147)
Foreign currency forward exchange contracts, receivable position	241	276
Foreign currency forward exchange contracts, (payable) position	(108)	(82)
Interest rate hedge contracts, receivable position		8
Interest rate hedge contract, (payable) position	(92)	(74)
Fair Value | Equity securities
Fair value, asset and liability measures
Investments	1,702	2,906
Fair Value | Other
Fair value, asset and liability measures
Investments	$ 55	$ 42

Financial Instruments, Deriva51

Financial Instruments, Derivatives and Fair Value Measures - Assets And Liabilities At Fair Value On A Recurring Basis (Details) - USD ($) shares in Thousands, $ in Millions	1 Months Ended		3 Months Ended
	Mar. 31, 2017	Apr. 30, 2015	Mar. 31, 2017	Dec. 31, 2016
Fair value, asset and liability measures
Fair Value - Assets	$ 241		$ 241	$ 284
Fair Value - Liabilities	$ 200		200	$ 610
Available-for-sale equity securities in an unrealized loss position
Proceeds from the sale of Mylan N.V. shares			$ 1,685
Mylan N. V. (Investee)
Available-for-sale equity securities in an unrealized loss position
Number of shares in investment sold	44,000	40,250	44,000
Proceeds from the sale of Mylan N.V. shares	$ 1,685		$ 1,700
Noncontrolling Interest, Ownership Percentage by Parent	4.80%	14.00%	4.80%	14.00%
Recurring
Fair value, asset and liability measures
Equity securities	$ 1,411		$ 1,411	$ 2,676
Interest rate swap derivative financial instruments, assets				8
Total Assets	1,652		1,652	2,960
Fair value of hedged long-term debt	5,395		5,395	5,413
Interest rate swap financial instruments, liabilities	92		92	74
Contingent consideration related to business combinations	203		203	136
Total Liabilities	5,798		5,798	5,705
Recurring | Foreign currency forward exchange contracts
Fair value, asset and liability measures
Fair Value - Assets	241		241	276
Fair Value - Liabilities	108		108	82
Recurring | Quoted Prices in Active Markets
Fair value, asset and liability measures
Equity securities	1,411		1,411	2,676
Total Assets	1,411		1,411	2,676
Recurring | Significant Other Observable Inputs
Fair value, asset and liability measures
Interest rate swap derivative financial instruments, assets				8
Total Assets	241		241	284
Fair value of hedged long-term debt	5,395		5,395	5,413
Interest rate swap financial instruments, liabilities	92		92	74
Total Liabilities	5,595		5,595	5,569
Recurring | Significant Other Observable Inputs | Foreign currency forward exchange contracts
Fair value, asset and liability measures
Fair Value - Assets	241		241	276
Fair Value - Liabilities	108		108	82
Recurring | Significant Unobservable Inputs
Fair value, asset and liability measures
Contingent consideration related to business combinations	203		203	136
Total Liabilities	$ 203		$ 203	$ 136

Litigation and Environmental 52

Litigation and Environmental Matters (Details) $ in Millions	Mar. 31, 2017USD ($)
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
Recorded reserve balance for legal proceedings and exposures	45
Other legal proceedings and environmental exposures | Minimum
Loss Contingencies
Other legal proceedings or environmental exposure	40
Other legal proceedings and environmental exposures | Maximum
Loss Contingencies
Other legal proceedings or environmental exposure	$ 45

Post-Employment Benefits - Gene

Post-Employment Benefits - General (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Defined Benefit Plans
Defined benefit plan net periodic benefit cost
Service cost - benefits earned during the period	$ 72	$ 67
Interest cost on projected benefit obligations	72	73
Expected return on plan assets	(152)	(141)
Net amortization of:
Actuarial loss, net	42	32
Net cost	34	31
Postemployment Obligations and Other Long Term Liabilities [Abstract]
Company contributions	283	491
Medical and Dental Plans
Defined benefit plan net periodic benefit cost
Service cost - benefits earned during the period	7	7
Interest cost on projected benefit obligations	11	12
Expected return on plan assets	(8)	(9)
Net amortization of:
Actuarial loss, net	6	6
Prior service cost (credit)	(11)	(11)
Net cost	5	5
Postemployment Obligations and Other Long Term Liabilities [Abstract]
Company contributions	11	$ 9
AMO
Postemployment Obligations and Other Long Term Liabilities [Abstract]
Curtailment gain related to disposition of AMO	$ 10

Taxes on Earnings (Details)

Taxes on Earnings (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Taxes on Earnings
Tax expense (benefit) on gain or loss on sale of business	$ 430
Tax expense (benefit) from resolution of various tax positions related to prior years		$ (390)
Increase (decrease) in gross unrecognized tax benefits	(33)	(444)
Continuing operations
Taxes on Earnings
Tax expense (benefit) from resolution of various tax positions related to prior years		(140)
Discontinued operations
Taxes on Earnings
Tax expense (benefit) from resolution of various tax positions related to prior years	(33)	$ (247)
Minimum
Taxes on Earnings
Decrease reasonably possible in gross unrecognized tax benefits	200
Maximum
Taxes on Earnings
Decrease reasonably possible in gross unrecognized tax benefits	350
Dispositions held for sale | Continuing operations | AMO
Taxes on Earnings
Tax expense (benefit) on gain or loss on sale of business	$ 430

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Segment Reporting Information
Assets	$ 70,887		$ 52,666
Net Sales to External Customers	6,335	$ 4,885
Operating Earnings	(202)	524
Amortization of intangible assets	(522)	(144)
Earnings from continuing operations before tax	$ 736	2
Annual share-based awards recognized in first quarter (as a percent)	50.00%
Foreign currency exchange loss on remeasurement		477
Venezuela
Segment Reporting Information
Foreign currency exchange loss on remeasurement		477
Other
Segment Reporting Information
Net Sales to External Customers	$ 482	523
Non-reportable segment
Segment Reporting Information
Impairment of indefinite-lived intangible assets		43
Total Reportable Segments
Segment Reporting Information
Net Sales to External Customers	5,853	4,362
Operating Earnings	1,491	1,004
Total Reportable Segments | Established Pharmaceutical Products
Segment Reporting Information
Net Sales to External Customers	950	888
Operating Earnings	140	148
Total Reportable Segments | Nutritional Products
Segment Reporting Information
Net Sales to External Customers	1,642	1,671
Operating Earnings	351	342
Total Reportable Segments | Diagnostic Products
Segment Reporting Information
Net Sales to External Customers	1,158	1,118
Operating Earnings	284	267
Total Reportable Segments | Cardiovascular and Neuromodulation Products
Segment Reporting Information
Net Sales to External Customers	2,103	685
Operating Earnings	716	247
Corporate functions
Segment Reporting Information
Corporate functions and benefit plans costs	(190)	(81)
Reconciling items
Segment Reporting Information
Non-reportable segments	46	(2)
Net interest expense	(204)	(25)
Share-based compensation	(171)	(152)
Amortization of intangible assets	(522)	(144)
Other, net	286	$ (598)
St Jude Medical | Cardiovascular and Neuromodulation Products
Segment Reporting Information
Assets	$ 5,162		$ 1,425