Abbott Laboratories (ABT) 10-Q 29 Jul 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2020shares
Document and Entity Information
Document Type	10-Q
Document Transition Report	false
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Entity File Number	1-2189
Entity Registrant Name	ABBOTT LABORATORIES
Entity Tax Identification Number	36-0698440
Entity Incorporation, State or Country Code	IL
Entity Address, State or Province	IL
Entity Address, Address Line One	100 Abbott Park Road
Entity Address, City or Town	Abbott Park
Entity Address, Postal Zip Code	60064-6400
City Area Code	224
Local Phone Number	667-6100
Title of 12(b) Security	Common Shares, Without Par Value
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	1,770,529,999
Entity Central Index Key	0000001800
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Amendment Flag	false
New York Stock Exchange
Document and Entity Information
Security Exchange Name	NYSE
Trading Symbol	ABT
Chicago Stock Exchange
Document and Entity Information
Security Exchange Name	CHX

Condensed Consolidated Statemen

Condensed Consolidated Statement of Earnings - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Condensed Consolidated Statement of Earnings
Net sales	$ 7,328	$ 7,979	$ 15,054	$ 15,514
Cost of products sold, excluding amortization of intangible assets	3,263	3,279	6,544	6,439
Amortization of intangible assets	553	483	1,114	969
Research and development	564	577	1,142	1,249
Selling, general and administrative	2,276	2,434	4,824	4,912
Total operating cost and expenses	6,656	6,773	13,624	13,569
Operating earnings	672	1,206	1,430	1,945
Interest expense	134	168	273	339
Interest (income)	(9)	(22)	(27)	(45)
Net foreign exchange (gain) loss	(1)	(4)	4	2
Other (income) expense, net	22	(38)	21	(85)
Earnings from continuing operations before taxes	526	1,102	1,159	1,734
Tax expense (benefit) on earnings from continuing operations	(11)	96	78	56
Earnings from continuing operations	537	1,006	1,081	1,678
Earnings from discontinued operations, net of tax			20
Net Earnings	$ 537	$ 1,006	$ 1,101	$ 1,678
Basic Earnings Per Common Share
Continuing operations (in dollars per share)	$ 0.30	$ 0.57	$ 0.61	$ 0.94
Discontinued operations (in dollars per share)			0.01
Net earnings (in dollars per share)	0.30	0.57	0.62	0.94
Diluted Earnings Per Common Share
Continuing operations (in dollars per share)	0.30	0.56	0.60	0.94
Discontinued operations (in dollars per share)			0.01
Net earnings (in dollars per share)	$ 0.30	$ 0.56	$ 0.61	$ 0.94
Average Number of Common Shares Outstanding Used for Basic Earnings Per Common Share (in shares)	1,772,953	1,768,904	1,770,970	1,766,182
Dilutive Common Stock Options (in shares)	12,087	12,513	11,882	12,904
Average Number of Common Shares Outstanding Plus Dilutive Common Stock Options (in shares)	1,785,040	1,781,417	1,782,852	1,779,086
Outstanding Common Stock Options Having No Dilutive Effect (in shares)	50	247	50	247

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Condensed Consolidated Statement of Comprehensive Income
Net Earnings	$ 537	$ 1,006	$ 1,101	$ 1,678
Foreign currency translation gain (loss) adjustments	355	91	(789)	213
Net actuarial gains (losses) and amortization of net actuarial losses and prior service costs and credits, net of taxes of $13 and $28 in 2020 and $7 and $14 in 2019	37	26	94	49
Net gains (losses) for derivative instruments designated as cash flow hedges and other, net of taxes of $(29) and $19 in 2020 and $(7) and $(15) in 2019	(86)	(12)	80	(41)
Other comprehensive income (loss)	306	105	(615)	221
Comprehensive Income	843	$ 1,111	486	$ 1,899
Supplemental Accumulated Other Comprehensive Income (Loss) Information, net of tax:
Cumulative foreign currency translation (loss) adjustments	(5,713)		(5,713)		$ (4,924)
Net actuarial (losses) and prior service (cost) and credits	(3,446)		(3,446)		(3,540)
Cumulative gains (losses) on derivative instruments designated as cash flow hedges and other	79		79		(1)
Accumulated Other Comprehensive Income (Loss)	$ (9,080)		$ (9,080)		$ (8,465)

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Condensed Consolidated Statement of Comprehensive Income
Net actuarial gains (losses) and amortization of net actuarial losses and prior service costs and credits, taxes	$ 13	$ 7	$ 28	$ 14
Net gains (losses) for derivative instruments designated as cash flow hedges and other, taxes	$ (29)	$ (7)	$ 19	$ (15)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheet - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Current Assets:
Cash and cash equivalents	$ 4,763	$ 3,860
Short-term investments	274	280
Trade receivables, less allowances of $422 in 2020 and $384 in 2019	5,140	5,425
Inventories:
Finished products	3,240	2,784
Work in process	675	560
Materials	1,287	972
Total inventories	5,202	4,316
Prepaid expenses and other receivables	1,842	1,786
Total Current Assets	17,221	15,667
Investments	776	883
Property and equipment, at cost	17,374	16,799
Less: accumulated depreciation and amortization	9,031	8,761
Net property and equipment	8,343	8,038
Intangible assets, net of amortization	15,783	17,025
Goodwill	23,082	23,195
Deferred income taxes and other assets	3,571	3,079
Total Assets	68,776	67,887
Current Liabilities:
Short-term borrowings	205	201
Trade accounts payable	3,335	3,252
Salaries, wages and commissions	1,121	1,237
Other accrued liabilities	4,206	4,035
Dividends payable	637	635
Income taxes payable	165	226
Current portion of long-term debt	1,290	1,277
Total Current Liabilities	10,959	10,863
Long-term debt	18,184	16,661
Post-employment obligations, deferred income taxes and other long-term liabilities	8,835	9,062
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: 2020: 1,979,594,379; 2019: 1,976,855,085	23,893	23,853
Common shares held in treasury, at cost - Shares: 2020: 209,064,380; 2019: 214,351,838	(9,904)	(10,147)
Earnings employed in the business	25,669	25,847
Accumulated other comprehensive income (loss)	(9,080)	(8,465)
Total Abbott Shareholders' Investment	30,578	31,088
Noncontrolling Interests in Subsidiaries	220	213
Total Shareholders' Investment	30,798	31,301
Total Liabilities and Shareholders' Investment	$ 68,776	$ 67,887

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Condensed Consolidated Balance Sheet
Trade receivables, allowances (in dollars)	$ 422	$ 384
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	1,979,594,379	1,976,855,085
Common shares held in treasury, shares	209,064,380	214,351,838

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Shareholders' Investment - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Jan. 01, 2020
Increase (Decrease) in Shareholders' Investment
Balance at beginning of period			$ 31,301
Net earnings	$ 537	$ 1,006	1,101	$ 1,678
Other comprehensive income (loss)	306	105	(615)	221
Balance at end of period	30,798		30,798
Common Shares:
Increase (Decrease) in Shareholders' Investment
Balance at beginning of period	23,731	23,461	23,853	23,512
Issued under incentive stock programs	66	111	119	187
Share-based compensation	105	106	350	343
Issuance of restricted stock awards	(9)	(13)	(429)	(377)
Balance at end of period	23,893	23,665	23,893	23,665
Common Shares Held in Treasury:
Increase (Decrease) in Shareholders' Investment
Balance at beginning of period	(9,913)	(9,679)	(10,147)	(9,962)
Issuance of restricted stock awards	10	21	263	324
Purchased	(1)	(1)	(20)	(21)
Balance at end of period	(9,904)	(9,659)	(9,904)	(9,659)
Earnings Employed in the Business:
Increase (Decrease) in Shareholders' Investment
Balance at beginning of period	25,786	24,613	25,847	24,560
Impact of adoption of new accounting standards					$ (5)
Net earnings	537	1,006	1,101	1,678
Cash dividends declared on common shares	(640)	(568)	(1,281)	(1,136)
Effect of common and treasury share transactions	(14)	(6)	7	(57)
Balance at end of period	25,669	25,045	25,669	25,045
Accumulated Other Comprehensive Income (Loss):
Increase (Decrease) in Shareholders' Investment
Balance at beginning of period	(9,386)	(7,470)	(8,465)	(7,586)
Other comprehensive income (loss)	306	105	(615)	221
Balance at end of period	(9,080)	(7,365)	(9,080)	(7,365)
Noncontrolling Interests in Subsidiaries:
Increase (Decrease) in Shareholders' Investment
Balance at beginning of period	209	204	213	198
Noncontrolling Interests' share of income, business combinations, net of distributions and share repurchases	11	4	7	10
Balance at end of period	$ 220	$ 208	$ 220	$ 208

Condensed Consolidated Statem_5

Condensed Consolidated Statement of Shareholders' Investment (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Common Shares:
Increase (Decrease) in Shareholders' Investment
Balance at beginning of period (in shares)	1,978,112,501	1,973,472,506	1,976,855,085	1,971,189,465
Issued under incentive stock programs (in shares)	1,481,878	2,775,623	2,739,294	5,058,664
Balance at end of period (in shares)	1,979,594,379	1,976,248,129	1,979,594,379	1,976,248,129
Common Shares Held in Treasury:
Increase (Decrease) in Shareholders' Investment
Balance at beginning of period (in shares)	209,267,175	209,291,244	214,351,838	215,570,043
Issued under incentive stock programs (in shares)	212,973	441,459	5,546,599	6,986,386
Purchased (in shares)	10,178	729	259,141	266,857
Balance at end of period (in shares)	209,064,380	208,850,514	209,064,380	208,850,514
Earnings Employed in the Business:
Increase (Decrease) in Shareholders' Investment
Cash dividends declared per common share	$ 0.36	$ 0.32	$ 0.72	$ 0.64

Condensed Consolidated Statem_6

Condensed Consolidated Statement of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash Flow From (Used in) Operating Activities:
Net earnings	$ 1,101	$ 1,678
Adjustments to reconcile net earnings to net cash from operating activities -
Depreciation	539	535
Amortization of intangible assets	1,114	969
Share-based compensation	348	340
Trade receivables	127	(335)
Inventories	(987)	(540)
Other, net	(205)	(875)
Net Cash From Operating Activities	2,037	1,772
Cash Flow From (Used in) Investing Activities:
Acquisitions of property and equipment	(1,002)	(803)
Acquisitions of businesses and technologies, net of cash acquired	(32)	(160)
Proceeds from business dispositions	48	48
Sales (purchases) of other investment securities, net	(32)	2
Other	6	19
Net Cash (Used in) Investing Activities	(1,012)	(894)
Cash Flow From (Used in) Financing Activities:
Net borrowings (repayments) of short-term debt and other	31	40
Proceeds from issuance of long-term debt	1,279
Repayments of long-term debt	(2)	(521)
Purchases of common shares	(240)	(221)
Proceeds from stock options exercised	146	244
Dividends paid	(1,280)	(1,133)
Other	(11)
Net Cash (Used in) Financing Activities	(77)	(1,591)
Effect of exchange rate changes on cash and cash equivalents	(45)	6
Net Increase (Decrease) in Cash and Cash Equivalents	903	(707)
Cash and Cash Equivalents, Beginning of Year	3,860	3,844
Cash and Cash Equivalents, End of Period	$ 4,763	$ 3,137

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2020
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, 2019. The condensed consolidated financial statements include the accounts of the parent company and subsidiaries, after elimination of intercompany transactions.

New Accounting Standards

New Accounting Standards	6 Months Ended
	Jun. 30, 2020
New Accounting Standards
New Accounting Standards	Note 2 — New Accounting Standards ​ Recently Adopted Accounting Standards ​ In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-13, Financial Instruments – Credit Losses ​ Recent Accounting Standards Not Yet Adopted ​ In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ​

Revenue

Revenue	6 Months Ended
	Jun. 30, 2020
Revenue
Revenue	Note 3 — Revenue ​ Abbott’s revenues are derived primarily from the sale of a broad line of health care products under short-term receivable arrangements. Abbott has four reportable segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. ​ The following tables provide detail by sales category: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, 2020 ​ Three Months Ended June 30, 2019 (in millions) U.S. Int’l Total U.S. Int’l Total Established Pharmaceutical Products — ​ ​ ​ ​ ​ ​ Key Emerging Markets ​ $ — ​ $ 764 ​ $ 764 ​ $ — ​ $ 853 ​ $ 853 Other ​ — ​ 249 ​ 249 ​ — ​ 255 ​ ​ 255 Total ​ — ​ 1,013 ​ 1,013 ​ — ​ 1,108 ​ 1,108 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nutritionals — ​ ​ ​ ​ ​ ​ Pediatric Nutritionals ​ 484 ​ 540 ​ 1,024 ​ 475 ​ 576 ​ 1,051 Adult Nutritionals ​ 324 ​ 535 ​ 859 ​ 311 ​ 513 ​ 824 Total ​ 808 ​ 1,075 ​ 1,883 ​ 786 ​ 1,089 ​ 1,875 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diagnostics — ​ ​ ​ ​ ​ ​ Core Laboratory ​ 289 ​ 698 ​ 987 ​ 272 ​ 897 ​ 1,169 Molecular ​ 144 ​ 215 ​ 359 ​ 38 ​ 69 ​ 107 Point of Care ​ 79 ​ 39 ​ 118 ​ 113 ​ 32 ​ 145 Rapid Diagnostics ​ 345 ​ 185 ​ 530 ​ 272 ​ 212 ​ 484 Total ​ 857 ​ 1,137 ​ 1,994 ​ 695 ​ 1,210 ​ 1,905 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Medical Devices — ​ ​ ​ ​ ​ ​ Rhythm Management ​ 185 ​ 216 ​ 401 ​ 273 ​ 275 ​ 548 Electrophysiology ​ 120 ​ 179 ​ 299 ​ 190 ​ 240 ​ 430 Heart Failure ​ 115 ​ 43 ​ 158 ​ 149 ​ 52 ​ 201 Vascular ​ 168 ​ 313 ​ 481 ​ 270 ​ 460 ​ 730 Structural Heart ​ 91 ​ 132 ​ 223 ​ 152 ​ 200 ​ 352 Neuromodulation ​ 85 ​ 21 ​ 106 ​ 168 ​ 44 ​ 212 Diabetes Care ​ ​ 202 ​ ​ 553 ​ ​ 755 ​ ​ 158 ​ ​ 444 ​ ​ 602 Total ​ 966 ​ 1,457 ​ 2,423 ​ 1,360 ​ 1,715 ​ 3,075 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other ​ 7 ​ 8 ​ 15 ​ 9 ​ 7 ​ 16 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 2,638 ​ $ 4,690 ​ $ 7,328 ​ $ 2,850 ​ $ 5,129 ​ $ 7,979 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30, 2020 ​ Six Months Ended June 30, 2019 (in millions) U.S. Int’l Total U.S. Int’l Total Established Pharmaceutical Products — ​ ​ ​ ​ ​ ​ ​ Key Emerging Markets ​ $ — ​ $ 1,577 ​ $ 1,577 ​ $ — ​ $ 1,605 ​ $ 1,605 Other ​ — ​ 480 ​ 480 ​ — ​ 495 ​ ​ 495 Total ​ — ​ 2,057 ​ 2,057 ​ — ​ 2,100 ​ 2,100 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nutritionals — ​ ​ ​ ​ ​ ​ Pediatric Nutritionals ​ 1,002 ​ 1,111 ​ 2,113 ​ 928 ​ 1,152 ​ 2,080 Adult Nutritionals ​ 618 ​ 1,056 ​ 1,674 ​ 605 ​ 982 ​ 1,587 Total ​ 1,620 ​ 2,167 ​ 3,787 ​ 1,533 ​ 2,134 ​ 3,667 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diagnostics — ​ ​ ​ ​ ​ ​ Core Laboratory ​ 556 ​ 1,420 ​ 1,976 ​ 521 ​ 1,709 ​ 2,230 Molecular ​ 209 ​ 289 ​ 498 ​ 78 ​ 137 ​ 215 Point of Care ​ 182 ​ 74 ​ 256 ​ 222 ​ 58 ​ 280 Rapid Diagnostics ​ 713 ​ 377 ​ 1,090 ​ 598 ​ 423 ​ 1,021 Total ​ 1,660 ​ 2,160 ​ 3,820 ​ 1,419 ​ 2,327 ​ 3,746 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Medical Devices — ​ ​ ​ ​ ​ ​ Rhythm Management ​ 413 ​ 462 ​ 875 ​ 525 ​ 537 ​ 1,062 Electrophysiology ​ 284 ​ 403 ​ 687 ​ 364 ​ 471 ​ 835 Heart Failure ​ 267 ​ 94 ​ 361 ​ 292 ​ 93 ​ 385 Vascular ​ 398 ​ 708 ​ 1,106 ​ 536 ​ 903 ​ 1,439 Structural Heart ​ 227 ​ 314 ​ 541 ​ 288 ​ 388 ​ 676 Neuromodulation ​ 222 ​ 61 ​ 283 ​ 320 ​ 85 ​ 405 Diabetes Care ​ ​ 388 ​ ​ 1,119 ​ ​ 1,507 ​ ​ 310 ​ ​ 858 ​ ​ 1,168 Total ​ 2,199 ​ 3,161 ​ 5,360 ​ 2,635 ​ 3,335 ​ 5,970 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other ​ 15 ​ 15 ​ 30 ​ 17 ​ 14 ​ 31 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 5,494 ​ $ 9,560 ​ $ 15,054 ​ $ 5,604 ​ $ 9,910 ​ $ 15,514 ​ Remaining Performance Obligations ​ As of June 30, 2020, the estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) was approximately $3.5 billion in the Diagnostics segment and approximately $415 million in the Medical Devices segment. Abbott expects to recognize revenue on approximately 60 percent of these remaining performance obligations over the next 24 months , approximately 17 percent over the subsequent 12 months and the remainder thereafter. ​ These performance obligations primarily reflect the future sale of reagents/consumables in contracts with minimum purchase obligations, extended warranty or service obligations related to previously sold equipment, and remote monitoring services related to previously implanted devices. Abbott has applied the practical expedient described in Accounting Standards Codification (ASC) 606-10-50-14 and has not included remaining performance obligations related to contracts with original expected durations of one year or less in the amounts above. ​ Other Contract Assets and Liabilities ​ Abbott discloses Trade receivables separately in the Condensed Consolidated Balance Sheet at the net amount expected to be collected. Contract assets primarily relate to Abbott’s conditional right to consideration for work completed but not billed at the reporting date. Contract assets at the beginning and end of the period, as well as the changes in the balance, were not significant. ​ Contract liabilities primarily relate to payments received from customers in advance of performance under the contract. Abbott’s contract liabilities arise primarily in the Medical Devices reportable segment when payment is received upfront for various multi-period extended service arrangements. ​ Changes in the contract liabilities during the period are as follows: ​ ​ ​ ​ ​ (in millions) ​ ​ Contract Liabilities ​ ​ ​ Balance at December 31, 2019 ​ $ 294 Unearned revenue from cash received during the period ​ 233 Revenue recognized related to contract liability balance ​ (192) Balance at June 30, 2020 ​ $ 335 ​

Supplemental Financial Informat

Supplemental Financial Information	6 Months Ended
	Jun. 30, 2020
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 June 30, 2020 and 2019 were $534 million and $1.0 billion, respectively, and for the six months ended June 30, 2020 and 2019 were $1.075 billion and $1.668 billion, respectively. Net earnings allocated to common shares for the three months ended June 30, 2020 and 2019 were $534 million and $1.0 billion, respectively, and for the six months ended June 30, 2020 and 2019 were $1.095 billion and $1.668 billion, respectively. ​ Other, net in Net cash from operating activities in the Condensed Consolidated Statement of Cash Flows for the first six months of 2020 includes $335 million of pension contributions and the payment of cash taxes of approximately $285 million. The first six months of 2019 includes $326 million of pension contributions and the payment of cash taxes of approximately $615 million. ​ Earnings from discontinued operations, net of tax, in the first six months of 2020 include the recognition of $20 million of tax benefits as a result of the resolution of various tax positions related to the previous sale of a business that was reported as a discontinued operation. ​ The following summarizes the activity for the first six months of 2020 related to the allowance for doubtful accounts as of June 30, 2020: ​ ​ ​ ​ ​ (in millions) ​ ​ Allowance for Doubtful Accounts ​ ​ ​ Balance at December 31, 2019 ​ $ 228 Impact of adopting ASU 2016-13 ​ 7 Provisions/charges to income ​ ​ 45 Amounts charged off and other deductions ​ (14) Balance at June 30, 2020 ​ $ 266 ​ The allowance for doubtful accounts reflects the current estimate of credit losses expected to be incurred over the life of the accounts receivables. Abbott considers various factors in establishing, monitoring, and adjusting its allowance for doubtful accounts including the aging of the accounts and aging trends, the historical level of charge-offs, and specific exposures related to particular customers. Abbott also monitors other risk factors and forward-looking information, such as country risk, when determining credit limits for customers and establishing adequate allowances. ​ The components of long-term investments as of June 30, 2020 and December 31, 2019 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, (in millions) 2020 2019 Long-term Investments ​ ​ ​ ​ ​ ​ Equity securities ​ $ 728 ​ $ 836 Other ​ ​ 48 ​ ​ 47 Total $ 776 $ 883 ​ Abbott’s long-term investments as of June 30, 2020, declined versus the balance as of December 31, 2019, due to investment impairments totaling approximately $110 million, which were recorded in Other (income) expense, net within the Condensed Consolidated Statement of Earnings. ​ Abbott's equity securities as of June 30, 2020, include approximately $328 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. ​ Abbott also holds certain investments as of June 30, 2020 with a carrying value of approximately $283 million that are accounted for under the equity method of accounting and other equity investments with a carrying value of approximately $102 million that do not have a readily determinable fair value. The $102 million carrying value is net of an approximately $60 million impairment of an investment in the second quarter of 2020 for which Abbott had previously recorded an unrealized gain of approximately $50 million in 2018. ​ In the first quarter of 2019, in conjunction with the acquisition of Cephea Valve Technologies, Inc., Abbott acquired a research & development (R&D) asset valued at $102 million, which was immediately expensed. The $102 million of expense was recorded in the R&D line of Abbott's Condensed Consolidated Statement of Earnings.

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2020
Changes in Accumulated Other Comprehensive Income (Loss)
Changes in Accumulated Other Comprehensive Income (Loss)	Note 5 — 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 Gains ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Losses) on ​ ​ ​ ​ ​ ​ ​ ​ Net Actuarial ​ Derivative ​ ​ Cumulative Foreign ​ (Losses) and Prior ​ Instruments ​ ​ Currency Translation ​ Service (Costs) ​ Designated as ​ ​ Adjustments ​ and Credits ​ Cash Flow Hedges (in millions) 2020 2019 2020 2019 2020 2019 Balance at March 31 ​ $ (6,068) ​ $ (4,790) ​ $ (3,483) ​ $ (2,703) ​ $ 165 ​ $ 23 Other comprehensive income (loss) before reclassifications ​ 355 ​ 91 ​ ​ (9) ​ 3 ​ (67) ​ (2) Amounts reclassified from accumulated other comprehensive income ​ — ​ — ​ 46 ​ 23 ​ (19) ​ (10) Net current period comprehensive income (loss) ​ 355 ​ 91 ​ 37 ​ 26 ​ (86) ​ (12) Balance at June 30 ​ $ (5,713) ​ $ (4,699) ​ $ (3,446) ​ $ (2,677) ​ $ 79 ​ $ 11 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30 ​ ​ ​ ​ ​ ​ Cumulative Gains ​ ​ ​ ​ ​ ​ (Losses) on ​ ​ ​ ​ Net Actuarial ​ Derivative ​ ​ Cumulative Foreign ​ (Losses) and Prior ​ Instruments ​ ​ Currency Translation ​ Service (Costs) ​ Designated as ​ ​ Adjustments and Credits Cash Flow Hedges (in millions) 2020 2019 2020 2019 2020 2019 Balance at January 1 ​ $ (4,924) ​ $ (4,912) ​ $ (3,540) ​ $ (2,726) ​ $ (1) ​ $ 52 Other comprehensive income (loss) before reclassifications ​ (789) ​ 213 ​ (2) ​ 2 ​ 109 ​ (19) Amounts reclassified from accumulated other comprehensive income ​ — ​ ​ — ​ 96 ​ 47 ​ (29) ​ (22) Net current period comprehensive income (loss) ​ (789) ​ 213 ​ 94 ​ 49 ​ 80 ​ (41) Balance at June 30 ​ $ (5,713) ​ $ (4,699) ​ $ (3,446) ​ $ (2,677) ​ $ 79 ​ $ 11 ​ Reclassified amounts for foreign currency translation are recorded in the Condensed Consolidated Statement of Earnings as Net foreign exchange (gain) loss; and amounts for cash flow hedges are recorded as Cost of products sold. Net actuarial losses and prior service cost are included as a component of net periodic benefit costs; see Note 12 for additional details.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets
Goodwill and Intangible Assets	Note 6 — Goodwill and Intangible Assets ​ The total amount of goodwill reported was $23.1 billion at June 30, 2020 and $23.2 billion at December 31, 2019. Foreign currency translation adjustments decreased goodwill by approximately $111 million in the first six months of 2020. The amount of goodwill related to reportable segments at June 30, 2020 was $2.9 billion for the Established Pharmaceutical Products segment, $286 million for the Nutritional Products segment, $3.7 billion for the Diagnostic Products segment, and $16.2 billion for the Medical Devices segment. There was no reduction of goodwill relating to impairments in the first six months of 2020. ​ The gross amount of amortizable intangible assets, primarily product rights and technology was $27.5 billion as of June 30, 2020 and $27.6 billion as of December 31, 2019, and accumulated amortization was $12.9 billion as of June 30, 2020 and $11.9 billion as of December 31, 2019. Foreign currency translation adjustments decreased intangible assets by $150 million for the first six months of 2020. Abbott’s estimated annual amortization expense for intangible assets is approximately $2.1 billion in 2020, $2.0 billion in 2021, 2022 , and 2023 and $1.9 billion in 2024. ​ Indefinite-lived intangible assets, which relate to in-process R&D acquired in a business combination, were approximately $1.2 billion and $1.3 billion as of June 30, 2020 and December 31, 2019, respectively .

Restructuring Plans

Restructuring Plans	6 Months Ended
	Jun. 30, 2020
Restructuring Plans
Restructuring Plans	Note 7 — Restructuring Plans ​ From 2017 to 2020, Abbott management approved restructuring plans as part of the integration of the acquisitions of St. Jude Medical into the Medical Devices segment, and Alere Inc. (Alere) into the Diagnostic Products segment, in order to leverage economies of scale and reduce costs. In the first six months of 2020, charges of $10 million were recognized, of which $3 million is recorded in Cost of products sold, $1 million is recorded in Research and development and $6 million as Selling, general and administrative expense. The following summarizes the activity for the first six months of 2020 related to these actions and the status of the related accrual as of June 30, 2020: ​ ​ ​ ​ ​ (in millions) ​ ​ Accrued balance at December 31, 2019 ​ $ 46 Restructuring charges recorded in 2020 ​ ​ 10 Payments and other adjustments ​ ​ (20) Accrued balance at June 30, 2020 ​ $ 36 ​ ​ From 2017 to 2020, 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 2020, charges of $23 million were recognized, of which $1 million is recorded in Cost of products sold, $1 million is recorded in Research and development and $21 million as Selling, general and administrative expense. The following summarizes the activity for the first six months of 2020 related to these restructuring actions and the status of the related accrual as of June 30, 2020: ​ ​ ​ ​ ​ (in millions) ​ ​ Accrued balance at December 31, 2019 ​ $ 79 Restructuring charges recorded in 2020 ​ ​ 23 Payments and other adjustments ​ ​ (18) Accrued balance at June 30, 2020 ​ $ 84 ​

Incentive Stock Programs

Incentive Stock Programs	6 Months Ended
	Jun. 30, 2020
Incentive Stock Programs
Incentive Stock Programs	Note 8 — Incentive Stock Programs ​ In the first six months of 2020, Abbott granted 4,006,336 stock options, 568,471 restricted stock awards and 5,143,501 restricted stock units under its current incentive stock program. At June 30, 2020, approximately 113 million shares were reserved for future grants. Information regarding the number of options outstanding and exercisable at June 30, 2020 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding Exercisable Number of shares 30,771,662 ​ 21,898,193 Weighted average remaining life ( years 6.4 ​ 5.4 Weighted average exercise price $ 54.61 ​ $ 45.34 Aggregate intrinsic value ( in millions $ 1,133 ​ $ 1,009 ​ The total unrecognized share-based compensation cost at June 30, 2020 amounted to approximately $594 million which is expected to be recognized over the next three years .

Debt and Lines of Credit

Debt and Lines of Credit	6 Months Ended
	Jun. 30, 2020
Debt and Lines of Credit
Debt and Lines of Credit	Note 9 — Debt and Lines of Credit ​ On June 24, 2020, Abbott completed the issuance of $1.3 billion aggregate principal amount of senior notes, consisting of $650 million of its 1.15% Notes due 2028 and $650 million of its 1.40% Notes due 2030. ​ On February 24, 2019, Abbott redeemed the $500 million outstanding principal amount of its 2.80% Notes due 2020. ​

Financial Instruments, Derivati

Financial Instruments, Derivatives and Fair Value Measures	6 Months Ended
	Jun. 30, 2020
Financial Instruments, Derivatives and Fair Value Measures
Financial Instruments, Derivatives and Fair Value Measures	Note 10 — 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 primarily for anticipated intercompany purchases by those subsidiaries whose functional currencies are not the U.S. dollar. These contracts, with gross notional amounts totaling $7.4 billion at June 30, 2020 and $6.8 billion at December 31, 2019 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, 2020 will be included in Cost of products sold at the time the products are sold, generally through the next twelve to eighteen months . ​ 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, 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, 2020 and December 31, 2019, Abbott held the gross notional amount of $9.2 billion and $9.1 billion, respectively, of such foreign currency forward exchange contracts. ​ Abbott has designated a yen-denominated, 5-year term loan of approximately $556 million and $546 million as of June 30, 2020 and December 31, 2019, respectively, as a hedge of the net investment in certain foreign subsidiaries. The change in the value of the debt, which is due to changes in foreign exchange rates, is recorded in Accumulated other comprehensive income (loss), net of tax. ​ Abbott is a party to interest rate hedge contracts totaling approximately $2.9 billion at June 30, 2020 and December 31, 2019 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 following table summarizes the amounts and location of certain derivative financial instruments as of June 30, 2020 and December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value - Assets ​ Fair Value - Liabilities ​ ​ June 30, ​ Dec. 31, ​ ​ ​ June 30, ​ Dec. 31, ​ ​ (in millions) 2020 2019 Balance Sheet Caption 2020 2019 Balance Sheet Caption ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps designated as fair value hedges $ 243 $ 48 Deferred income taxes and other assets $ — $ — Post-employment obligations, deferred income taxes and other long-term liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward exchange contracts: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Hedging instruments ​ 117 ​ 110 Prepaid expenses and other receivables ​ 74 ​ 56 Other accrued liabilities Others not designated as hedges ​ 53 ​ 38 Prepaid expenses and other receivables ​ 31 ​ 33 Other accrued liabilities Debt designated as a hedge of net investment in a foreign subsidiary ​ ​ — ​ ​ — ​ n/a ​ ​ 556 ​ ​ 546 ​ Long-term debt ​ $ 413 $ 196 ​ ​ $ 661 $ 635 ​ ​ ​ The following table summarizes the activity for foreign currency forward exchange contracts designated as cash flow hedges 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 and six months ended June 30, 2020 and 2019. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain (loss) Recognized in Other ​ Income (expense) and Gain (loss) ​ ​ ​ ​ Comprehensive Income (loss) ​ Reclassified into Income ​ ​ ​ ​ Three Months ​ Six Months ​ Three Months ​ Six Months ​ ​ ​ ​ Ended June 30 ​ Ended June 30 ​ Ended June 30 ​ Ended June 30 ​ ​ (in millions) 2020 2019 2020 2019 2020 2019 2020 2019 Income Statement Caption ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward exchange contracts designated as cash flow hedges ​ $ (89) ​ $ (2) ​ $ 138 ​ $ (21) ​ $ 31 ​ $ 17 ​ $ 42 ​ $ 32 ​ Cost of products sold ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Debt designated as a hedge of net investment in a foreign subsidiary ​ ​ (2) ​ ​ — ​ ​ (10) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ n/a ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps designated as fair value hedges ​ n/a ​ n/a ​ ​ n/a ​ ​ n/a ​ 27 ​ 96 ​ ​ 195 ​ ​ 139 ​ Interest expense ​ Gains of $67 million and $26 million were recognized in the three months ended June 30, 2020 and 2019, respectively, related to foreign currency forward exchange contracts not designated as a hedge. Losses of $98 million and gains of $75 million were recognized in the six months ended June 30, 2020 and 2019, 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 carrying values and fair values of certain financial instruments as of June 30, 2020 and December 31, 2019 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 non-performance by these counterparties. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ December 31, 2019 ​ ​ Carrying ​ Fair ​ Carrying ​ Fair (in millions) Value Value Value Value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Long-term Investment Securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity securities $ 728 $ 728 ​ $ 836 $ 836 Other ​ 48 ​ 48 ​ 47 ​ 47 Total Long-term Debt ​ (19,474) ​ (23,296) ​ (17,938) ​ (20,772) Foreign Currency Forward Exchange Contracts: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivable position ​ 170 ​ 170 ​ 148 ​ 148 (Payable) position ​ (105) ​ (105) ​ (89) ​ (89) Interest Rate Hedge Contracts: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivable position ​ ​ 243 ​ ​ 243 ​ ​ 48 ​ ​ 48 ​ 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 ​ ​ ​ ​ ​ Quoted ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ Prices in ​ Other ​ Significant ​ ​ Outstanding ​ Active ​ Observable ​ Unobservable (in millions) Balances Markets Inputs Inputs June 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity securities $ 343 ​ $ 343 $ — $ — Interest rate swap derivative financial instruments ​ 243 ​ — ​ 243 ​ — Foreign currency forward exchange contracts ​ 170 ​ — ​ 170 ​ — Total Assets $ 756 $ 343 $ 413 $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value of hedged long-term debt $ 3,082 ​ $ — $ 3,082 $ — Foreign currency forward exchange contracts ​ ​ 105 ​ ​ — ​ ​ 105 ​ ​ — Contingent consideration related to business combinations ​ 68 ​ — ​ — ​ 68 Total Liabilities $ 3,255 $ — $ 3,187 ​ $ 68 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity securities $ 357 $ 357 $ — $ — Interest rate swap derivative financial instruments ​ 48 ​ — ​ 48 ​ — Foreign currency forward exchange contracts ​ 148 ​ — ​ 148 ​ — Total Assets $ 553 $ 357 $ 196 $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value of hedged long-term debt $ 2,890 $ — $ 2,890 $ — Foreign currency forward exchange contracts ​ 89 ​ — ​ 89 ​ — Contingent consideration related to business combinations ​ 68 ​ — ​ — ​ 68 Total Liabilities $ 3,047 $ — $ 2,979 $ 68 ​ 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 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 using significant other observable inputs. The fair value of the contingent consideration was determined based on independent appraisals at the time of acquisition, adjusted for the time value of money and other changes in fair value.

Litigation and Environmental Ma

Litigation and Environmental Matters	6 Months Ended
	Jun. 30, 2020
Litigation and Environmental Matters
Litigation and Environmental Matters	Note 11 — 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 $85 million to $120 million. The recorded accrual balance at June 30, 2020 for these proceedings and exposures was approximately $105 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, 2020
Post-Employment Benefits
Post-Employment Benefits	Note 12 — Post-Employment Benefits ​ Retirement plans consist of defined benefit, defined contribution, and medical and dental plans. Net periodic benefit costs, other than service costs, are recognized in the Other (income) expense, net line of the Condensed Consolidated Statement of Earnings. Net cost recognized in continuing operations for the three 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) 2020 2019 2020 2019 2020 2019 2020 2019 Service cost - benefits earned during the period ​ $ 81 ​ $ 61 ​ $ 166 ​ $ 125 ​ $ 11 ​ $ 6 ​ $ 23 ​ $ 12 Interest cost on projected benefit obligations ​ 74 ​ 85 ​ 149 ​ 169 ​ 9 ​ 13 ​ 21 ​ 26 Expected return on plan assets ​ (191) ​ (178) ​ (383) ​ (356) ​ (7) ​ (7) ​ (14) ​ (14) Net amortization of: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Actuarial loss, net ​ 64 ​ 33 ​ 127 ​ 66 ​ 2 ​ 5 ​ 10 ​ 11 Prior service cost (credit) ​ 1 ​ 1 ​ 1 ​ 1 ​ (7) ​ (8) ​ (14) ​ (16) Net cost - continuing operations ​ $ 29 ​ $ 2 ​ $ 60 ​ $ 5 ​ $ 8 ​ $ 9 ​ $ 26 ​ $ 19 ​ 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 2020 and 2019, $335 million and $326 million, respectively, were contributed to defined benefit plans and $11 million was contributed to the post-employment medical and dental plans in each year.

Taxes on Earnings

Taxes on Earnings	6 Months Ended
	Jun. 30, 2020
Taxes on Earnings
Taxes on Earnings	Note 13 — 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 2020, taxes on earnings from continuing operations include approximately $81 million in tax benefits related to the settlement of the former St. Jude Medical consolidated group’s 2014 through 2016 federal income tax returns in the U.S. and $67 million in excess tax benefits associated with share-based compensation. Earnings from discontinued operations, net of tax, in the first six months of 2020 reflect the recognition of $20 million of net tax benefits primarily as a result of the resolution of various tax positions related to prior years. In the first six months of 2019, taxes on earnings from continuing operations include a $78 million reduction to the transition tax related to the Tax Cut and Jobs Act (TCJA) and approximately $90 million in excess tax benefits associated with share-based compensation. The $78 million reduction to the transition tax liability was the result of the issuance of final transition tax regulations by the U.S. Department of Treasury in the first quarter of 2019. ​ 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 between $70 million and $410 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 2016 are settled except for the federal income tax returns of the former Alere consolidated group which are settled through 2015.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2020
Segment Information
Segment Information	Note 14 — 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 ​ Nutritional Products ​ Diagnostic Products ​ Medical Devices ​ 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) 2020 2019 2020 2019 2020 2019 2020 2019 Established Pharmaceutical Products ​ $ 1,013 ​ $ 1,108 ​ $ 2,057 ​ $ 2,100 ​ $ 206 ​ $ 214 ​ $ 387 ​ $ 373 Nutritional Products ​ 1,883 ​ 1,875 ​ 3,787 ​ 3,667 ​ 474 ​ 447 ​ 933 ​ 827 Diagnostic Products ​ 1,994 ​ 1,905 ​ 3,820 ​ 3,746 ​ 522 ​ 466 ​ 927 ​ 900 Medical Devices ​ 2,423 ​ 3,075 ​ 5,360 ​ 5,970 ​ 391 ​ 917 ​ 1,194 ​ 1,764 Total Reportable Segments ​ 7,313 ​ 7,963 ​ 15,024 ​ 15,483 ​ 1,593 ​ 2,044 ​ 3,441 ​ ​ 3,864 Other ​ 15 ​ 16 ​ 30 ​ 31 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net sales ​ $ 7,328 ​ $ 7,979 ​ $ 15,054 ​ $ 15,514 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate functions and benefit plan costs ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (106) ​ ​ (99) ​ ​ (238) ​ ​ (201) Net interest expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (125) ​ ​ (146) ​ ​ (246) ​ ​ (294) Share-based compensation (a) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (115) ​ ​ (114) ​ ​ (348) ​ ​ (340) Amortization of intangible assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (553) ​ ​ (483) ​ ​ (1,114) ​ ​ (969) Other, net (b) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (168) ​ ​ (100) ​ ​ (336) ​ ​ (326) Earnings from continuing operations before taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 526 ​ $ 1,102 ​ $ 1,159 ​ $ 1,734 (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 three and six months ended June 30, 2020 and 2019 includes integration costs associated with the acquisition of St. Jude Medical and Alere, and restructuring charges. Other, net for the three and six months ended June 30, 2020 also includes impairments of equity investments. Other, net for the six months ended June 30, 2019 also includes a charge associated with an R&D asset acquired and immediately expensed.

New Accounting Standards (Polic

New Accounting Standards (Policies)	6 Months Ended
	Jun. 30, 2020
New Accounting Standards
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards ​ In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-13, Financial Instruments – Credit Losses
Recent Accounting Standards Not Yet Adopted	Recent Accounting Standards Not Yet Adopted ​ In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2020
Revenue
Schedule of reportable segment included under sales category	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, 2020 ​ Three Months Ended June 30, 2019 (in millions) U.S. Int’l Total U.S. Int’l Total Established Pharmaceutical Products — ​ ​ ​ ​ ​ ​ Key Emerging Markets ​ $ — ​ $ 764 ​ $ 764 ​ $ — ​ $ 853 ​ $ 853 Other ​ — ​ 249 ​ 249 ​ — ​ 255 ​ ​ 255 Total ​ — ​ 1,013 ​ 1,013 ​ — ​ 1,108 ​ 1,108 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nutritionals — ​ ​ ​ ​ ​ ​ Pediatric Nutritionals ​ 484 ​ 540 ​ 1,024 ​ 475 ​ 576 ​ 1,051 Adult Nutritionals ​ 324 ​ 535 ​ 859 ​ 311 ​ 513 ​ 824 Total ​ 808 ​ 1,075 ​ 1,883 ​ 786 ​ 1,089 ​ 1,875 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diagnostics — ​ ​ ​ ​ ​ ​ Core Laboratory ​ 289 ​ 698 ​ 987 ​ 272 ​ 897 ​ 1,169 Molecular ​ 144 ​ 215 ​ 359 ​ 38 ​ 69 ​ 107 Point of Care ​ 79 ​ 39 ​ 118 ​ 113 ​ 32 ​ 145 Rapid Diagnostics ​ 345 ​ 185 ​ 530 ​ 272 ​ 212 ​ 484 Total ​ 857 ​ 1,137 ​ 1,994 ​ 695 ​ 1,210 ​ 1,905 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Medical Devices — ​ ​ ​ ​ ​ ​ Rhythm Management ​ 185 ​ 216 ​ 401 ​ 273 ​ 275 ​ 548 Electrophysiology ​ 120 ​ 179 ​ 299 ​ 190 ​ 240 ​ 430 Heart Failure ​ 115 ​ 43 ​ 158 ​ 149 ​ 52 ​ 201 Vascular ​ 168 ​ 313 ​ 481 ​ 270 ​ 460 ​ 730 Structural Heart ​ 91 ​ 132 ​ 223 ​ 152 ​ 200 ​ 352 Neuromodulation ​ 85 ​ 21 ​ 106 ​ 168 ​ 44 ​ 212 Diabetes Care ​ ​ 202 ​ ​ 553 ​ ​ 755 ​ ​ 158 ​ ​ 444 ​ ​ 602 Total ​ 966 ​ 1,457 ​ 2,423 ​ 1,360 ​ 1,715 ​ 3,075 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other ​ 7 ​ 8 ​ 15 ​ 9 ​ 7 ​ 16 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 2,638 ​ $ 4,690 ​ $ 7,328 ​ $ 2,850 ​ $ 5,129 ​ $ 7,979 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30, 2020 ​ Six Months Ended June 30, 2019 (in millions) U.S. Int’l Total U.S. Int’l Total Established Pharmaceutical Products — ​ ​ ​ ​ ​ ​ ​ Key Emerging Markets ​ $ — ​ $ 1,577 ​ $ 1,577 ​ $ — ​ $ 1,605 ​ $ 1,605 Other ​ — ​ 480 ​ 480 ​ — ​ 495 ​ ​ 495 Total ​ — ​ 2,057 ​ 2,057 ​ — ​ 2,100 ​ 2,100 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nutritionals — ​ ​ ​ ​ ​ ​ Pediatric Nutritionals ​ 1,002 ​ 1,111 ​ 2,113 ​ 928 ​ 1,152 ​ 2,080 Adult Nutritionals ​ 618 ​ 1,056 ​ 1,674 ​ 605 ​ 982 ​ 1,587 Total ​ 1,620 ​ 2,167 ​ 3,787 ​ 1,533 ​ 2,134 ​ 3,667 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diagnostics — ​ ​ ​ ​ ​ ​ Core Laboratory ​ 556 ​ 1,420 ​ 1,976 ​ 521 ​ 1,709 ​ 2,230 Molecular ​ 209 ​ 289 ​ 498 ​ 78 ​ 137 ​ 215 Point of Care ​ 182 ​ 74 ​ 256 ​ 222 ​ 58 ​ 280 Rapid Diagnostics ​ 713 ​ 377 ​ 1,090 ​ 598 ​ 423 ​ 1,021 Total ​ 1,660 ​ 2,160 ​ 3,820 ​ 1,419 ​ 2,327 ​ 3,746 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Medical Devices — ​ ​ ​ ​ ​ ​ Rhythm Management ​ 413 ​ 462 ​ 875 ​ 525 ​ 537 ​ 1,062 Electrophysiology ​ 284 ​ 403 ​ 687 ​ 364 ​ 471 ​ 835 Heart Failure ​ 267 ​ 94 ​ 361 ​ 292 ​ 93 ​ 385 Vascular ​ 398 ​ 708 ​ 1,106 ​ 536 ​ 903 ​ 1,439 Structural Heart ​ 227 ​ 314 ​ 541 ​ 288 ​ 388 ​ 676 Neuromodulation ​ 222 ​ 61 ​ 283 ​ 320 ​ 85 ​ 405 Diabetes Care ​ ​ 388 ​ ​ 1,119 ​ ​ 1,507 ​ ​ 310 ​ ​ 858 ​ ​ 1,168 Total ​ 2,199 ​ 3,161 ​ 5,360 ​ 2,635 ​ 3,335 ​ 5,970 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other ​ 15 ​ 15 ​ 30 ​ 17 ​ 14 ​ 31 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 5,494 ​ $ 9,560 ​ $ 15,054 ​ $ 5,604 ​ $ 9,910 ​ $ 15,514 ​
Schedule of changes in contract liabilities	​ ​ ​ ​ ​ (in millions) ​ ​ Contract Liabilities ​ ​ ​ Balance at December 31, 2019 ​ $ 294 Unearned revenue from cash received during the period ​ 233 Revenue recognized related to contract liability balance ​ (192) Balance at June 30, 2020 ​ $ 335

Supplemental Financial Inform_2

Supplemental Financial Information (Tables)	6 Months Ended
	Jun. 30, 2020
Supplemental Financial Information
Summary of activity of allowance for doubtful accounts	​ ​ ​ ​ ​ (in millions) ​ ​ Allowance for Doubtful Accounts ​ ​ ​ Balance at December 31, 2019 ​ $ 228 Impact of adopting ASU 2016-13 ​ 7 Provisions/charges to income ​ ​ 45 Amounts charged off and other deductions ​ (14) Balance at June 30, 2020 ​ $ 266 ​
Schedule of long-term investments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, (in millions) 2020 2019 Long-term Investments ​ ​ ​ ​ ​ ​ Equity securities ​ $ 728 ​ $ 836 Other ​ ​ 48 ​ ​ 47 Total $ 776 $ 883

Changes in Accumulated Other _2

Changes in Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2020
Changes in Accumulated Other Comprehensive Income (Loss)
Schedule of accumulated other comprehensive income (loss), net of taxes	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative Gains ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Losses) on ​ ​ ​ ​ ​ ​ ​ ​ Net Actuarial ​ Derivative ​ ​ Cumulative Foreign ​ (Losses) and Prior ​ Instruments ​ ​ Currency Translation ​ Service (Costs) ​ Designated as ​ ​ Adjustments ​ and Credits ​ Cash Flow Hedges (in millions) 2020 2019 2020 2019 2020 2019 Balance at March 31 ​ $ (6,068) ​ $ (4,790) ​ $ (3,483) ​ $ (2,703) ​ $ 165 ​ $ 23 Other comprehensive income (loss) before reclassifications ​ 355 ​ 91 ​ ​ (9) ​ 3 ​ (67) ​ (2) Amounts reclassified from accumulated other comprehensive income ​ — ​ — ​ 46 ​ 23 ​ (19) ​ (10) Net current period comprehensive income (loss) ​ 355 ​ 91 ​ 37 ​ 26 ​ (86) ​ (12) Balance at June 30 ​ $ (5,713) ​ $ (4,699) ​ $ (3,446) ​ $ (2,677) ​ $ 79 ​ $ 11 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30 ​ ​ ​ ​ ​ ​ Cumulative Gains ​ ​ ​ ​ ​ ​ (Losses) on ​ ​ ​ ​ Net Actuarial ​ Derivative ​ ​ Cumulative Foreign ​ (Losses) and Prior ​ Instruments ​ ​ Currency Translation ​ Service (Costs) ​ Designated as ​ ​ Adjustments and Credits Cash Flow Hedges (in millions) 2020 2019 2020 2019 2020 2019 Balance at January 1 ​ $ (4,924) ​ $ (4,912) ​ $ (3,540) ​ $ (2,726) ​ $ (1) ​ $ 52 Other comprehensive income (loss) before reclassifications ​ (789) ​ 213 ​ (2) ​ 2 ​ 109 ​ (19) Amounts reclassified from accumulated other comprehensive income ​ — ​ ​ — ​ 96 ​ 47 ​ (29) ​ (22) Net current period comprehensive income (loss) ​ (789) ​ 213 ​ 94 ​ 49 ​ 80 ​ (41) Balance at June 30 ​ $ (5,713) ​ $ (4,699) ​ $ (3,446) ​ $ (2,677) ​ $ 79 ​ $ 11

Restructuring Plans (Tables)

Restructuring Plans (Tables)	6 Months Ended
	Jun. 30, 2020
Restructuring Plan in 2017 to 2020, St Jude and Alere Integrations
Restructuring costs
Summary of restructuring activity	​ ​ ​ ​ ​ (in millions) ​ ​ Accrued balance at December 31, 2019 ​ $ 46 Restructuring charges recorded in 2020 ​ ​ 10 Payments and other adjustments ​ ​ (20) Accrued balance at June 30, 2020 ​ $ 36 ​ ​
Restructuring Plan from 2017 to 2020
Restructuring costs
Summary of restructuring activity	​ ​ ​ ​ ​ (in millions) ​ ​ Accrued balance at December 31, 2019 ​ $ 79 Restructuring charges recorded in 2020 ​ ​ 23 Payments and other adjustments ​ ​ (18) Accrued balance at June 30, 2020 ​ $ 84

Incentive Stock Programs (Table

Incentive Stock Programs (Tables)	6 Months Ended
	Jun. 30, 2020
Incentive Stock Programs
Schedule of stock options outstanding and exercisable	​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding Exercisable Number of shares 30,771,662 ​ 21,898,193 Weighted average remaining life ( years 6.4 ​ 5.4 Weighted average exercise price $ 54.61 ​ $ 45.34 Aggregate intrinsic value ( in millions $ 1,133 ​ $ 1,009

Financial Instruments, Deriva_2

Financial Instruments, Derivatives and Fair Value Measures (Tables)	6 Months Ended
	Jun. 30, 2020
Financial Instruments, Derivatives and Fair Value Measures
Summary of the amounts and location of certain derivative financial instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value - Assets ​ Fair Value - Liabilities ​ ​ June 30, ​ Dec. 31, ​ ​ ​ June 30, ​ Dec. 31, ​ ​ (in millions) 2020 2019 Balance Sheet Caption 2020 2019 Balance Sheet Caption ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps designated as fair value hedges $ 243 $ 48 Deferred income taxes and other assets $ — $ — Post-employment obligations, deferred income taxes and other long-term liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward exchange contracts: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Hedging instruments ​ 117 ​ 110 Prepaid expenses and other receivables ​ 74 ​ 56 Other accrued liabilities Others not designated as hedges ​ 53 ​ 38 Prepaid expenses and other receivables ​ 31 ​ 33 Other accrued liabilities Debt designated as a hedge of net investment in a foreign subsidiary ​ ​ — ​ ​ — ​ n/a ​ ​ 556 ​ ​ 546 ​ Long-term debt ​ $ 413 $ 196 ​ ​ $ 661 $ 635 ​ ​ ​
Schedule of derivatives gain (loss) in OCI and earnings	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain (loss) Recognized in Other ​ Income (expense) and Gain (loss) ​ ​ ​ ​ Comprehensive Income (loss) ​ Reclassified into Income ​ ​ ​ ​ Three Months ​ Six Months ​ Three Months ​ Six Months ​ ​ ​ ​ Ended June 30 ​ Ended June 30 ​ Ended June 30 ​ Ended June 30 ​ ​ (in millions) 2020 2019 2020 2019 2020 2019 2020 2019 Income Statement Caption ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward exchange contracts designated as cash flow hedges ​ $ (89) ​ $ (2) ​ $ 138 ​ $ (21) ​ $ 31 ​ $ 17 ​ $ 42 ​ $ 32 ​ Cost of products sold ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Debt designated as a hedge of net investment in a foreign subsidiary ​ ​ (2) ​ ​ — ​ ​ (10) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ n/a ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps designated as fair value hedges ​ n/a ​ n/a ​ ​ n/a ​ ​ n/a ​ 27 ​ 96 ​ ​ 195 ​ ​ 139 ​ Interest expense
Schedule of carrying values and fair values of certain financial instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ December 31, 2019 ​ ​ Carrying ​ Fair ​ Carrying ​ Fair (in millions) Value Value Value Value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Long-term Investment Securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity securities $ 728 $ 728 ​ $ 836 $ 836 Other ​ 48 ​ 48 ​ 47 ​ 47 Total Long-term Debt ​ (19,474) ​ (23,296) ​ (17,938) ​ (20,772) Foreign Currency Forward Exchange Contracts: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivable position ​ 170 ​ 170 ​ 148 ​ 148 (Payable) position ​ (105) ​ (105) ​ (89) ​ (89) Interest Rate Hedge Contracts: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivable position ​ ​ 243 ​ ​ 243 ​ ​ 48 ​ ​ 48
Schedule of assets and liabilities measured at fair value on a recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basis of Fair Value Measurement ​ ​ ​ ​ ​ Quoted ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ Prices in ​ Other ​ Significant ​ ​ Outstanding ​ Active ​ Observable ​ Unobservable (in millions) Balances Markets Inputs Inputs June 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity securities $ 343 ​ $ 343 $ — $ — Interest rate swap derivative financial instruments ​ 243 ​ — ​ 243 ​ — Foreign currency forward exchange contracts ​ 170 ​ — ​ 170 ​ — Total Assets $ 756 $ 343 $ 413 $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value of hedged long-term debt $ 3,082 ​ $ — $ 3,082 $ — Foreign currency forward exchange contracts ​ ​ 105 ​ ​ — ​ ​ 105 ​ ​ — Contingent consideration related to business combinations ​ 68 ​ — ​ — ​ 68 Total Liabilities $ 3,255 $ — $ 3,187 ​ $ 68 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity securities $ 357 $ 357 $ — $ — Interest rate swap derivative financial instruments ​ 48 ​ — ​ 48 ​ — Foreign currency forward exchange contracts ​ 148 ​ — ​ 148 ​ — Total Assets $ 553 $ 357 $ 196 $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value of hedged long-term debt $ 2,890 $ — $ 2,890 $ — Foreign currency forward exchange contracts ​ 89 ​ — ​ 89 ​ — Contingent consideration related to business combinations ​ 68 ​ — ​ — ​ 68 Total Liabilities $ 3,047 $ — $ 2,979 $ 68 ​

Post-Employment Benefits (Table

Post-Employment Benefits (Tables)	6 Months Ended
	Jun. 30, 2020
Post-Employment Benefits
Schedule of 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) 2020 2019 2020 2019 2020 2019 2020 2019 Service cost - benefits earned during the period ​ $ 81 ​ $ 61 ​ $ 166 ​ $ 125 ​ $ 11 ​ $ 6 ​ $ 23 ​ $ 12 Interest cost on projected benefit obligations ​ 74 ​ 85 ​ 149 ​ 169 ​ 9 ​ 13 ​ 21 ​ 26 Expected return on plan assets ​ (191) ​ (178) ​ (383) ​ (356) ​ (7) ​ (7) ​ (14) ​ (14) Net amortization of: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Actuarial loss, net ​ 64 ​ 33 ​ 127 ​ 66 ​ 2 ​ 5 ​ 10 ​ 11 Prior service cost (credit) ​ 1 ​ 1 ​ 1 ​ 1 ​ (7) ​ (8) ​ (14) ​ (16) Net cost - continuing operations ​ $ 29 ​ $ 2 ​ $ 60 ​ $ 5 ​ $ 8 ​ $ 9 ​ $ 26 ​ $ 19 ​

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2020
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) 2020 2019 2020 2019 2020 2019 2020 2019 Established Pharmaceutical Products ​ $ 1,013 ​ $ 1,108 ​ $ 2,057 ​ $ 2,100 ​ $ 206 ​ $ 214 ​ $ 387 ​ $ 373 Nutritional Products ​ 1,883 ​ 1,875 ​ 3,787 ​ 3,667 ​ 474 ​ 447 ​ 933 ​ 827 Diagnostic Products ​ 1,994 ​ 1,905 ​ 3,820 ​ 3,746 ​ 522 ​ 466 ​ 927 ​ 900 Medical Devices ​ 2,423 ​ 3,075 ​ 5,360 ​ 5,970 ​ 391 ​ 917 ​ 1,194 ​ 1,764 Total Reportable Segments ​ 7,313 ​ 7,963 ​ 15,024 ​ 15,483 ​ 1,593 ​ 2,044 ​ 3,441 ​ ​ 3,864 Other ​ 15 ​ 16 ​ 30 ​ 31 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net sales ​ $ 7,328 ​ $ 7,979 ​ $ 15,054 ​ $ 15,514 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate functions and benefit plan costs ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (106) ​ ​ (99) ​ ​ (238) ​ ​ (201) Net interest expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (125) ​ ​ (146) ​ ​ (246) ​ ​ (294) Share-based compensation (a) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (115) ​ ​ (114) ​ ​ (348) ​ ​ (340) Amortization of intangible assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (553) ​ ​ (483) ​ ​ (1,114) ​ ​ (969) Other, net (b) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (168) ​ ​ (100) ​ ​ (336) ​ ​ (326) Earnings from continuing operations before taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 526 ​ $ 1,102 ​ $ 1,159 ​ $ 1,734 (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 three and six months ended June 30, 2020 and 2019 includes integration costs associated with the acquisition of St. Jude Medical and Alere, and restructuring charges. Other, net for the three and six months ended June 30, 2020 also includes impairments of equity investments. Other, net for the six months ended June 30, 2019 also includes a charge associated with an R&D asset acquired and immediately expensed.

Revenue (Details)

Revenue (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)segment	Jun. 30, 2019USD ($)segment	Jun. 30, 2020USD ($)segment	Jun. 30, 2019USD ($)segment
Revenue
Number of reportable segments | segment	4	4	4	4
Net sales	$ 7,328	$ 7,979	$ 15,054	$ 15,514
U.S.
Revenue
Net sales	2,638	2,850	5,494	5,604
Int'l
Revenue
Net sales	4,690	5,129	9,560	9,910
Established Pharmaceutical Products
Revenue
Net sales	1,013	1,108	2,057	2,100
Established Pharmaceutical Products | Int'l
Revenue
Net sales	1,013	1,108	2,057	2,100
Nutritional Products
Revenue
Net sales	1,883	1,875	3,787	3,667
Nutritional Products | U.S.
Revenue
Net sales	808	786	1,620	1,533
Nutritional Products | Int'l
Revenue
Net sales	1,075	1,089	2,167	2,134
Diagnostic Products
Revenue
Net sales	1,994	1,905	3,820	3,746
Diagnostic Products | U.S.
Revenue
Net sales	857	695	1,660	1,419
Diagnostic Products | Int'l
Revenue
Net sales	1,137	1,210	2,160	2,327
Medical Devices
Revenue
Net sales	2,423	3,075	5,360	5,970
Medical Devices | U.S.
Revenue
Net sales	966	1,360	2,199	2,635
Medical Devices | Int'l
Revenue
Net sales	1,457	1,715	3,161	3,335
Other
Revenue
Net sales	15	16	30	31
Other | U.S.
Revenue
Net sales	7	9	15	17
Other | Int'l
Revenue
Net sales	8	7	15	14
Key Emerging Markets | Established Pharmaceutical Products
Revenue
Net sales	764	853	1,577	1,605
Key Emerging Markets | Established Pharmaceutical Products | Int'l
Revenue
Net sales	764	853	1,577	1,605
Other | Established Pharmaceutical Products
Revenue
Net sales	249	255	480	495
Other | Established Pharmaceutical Products | Int'l
Revenue
Net sales	249	255	480	495
Pediatric Nutritionals | Nutritional Products
Revenue
Net sales	1,024	1,051	2,113	2,080
Pediatric Nutritionals | Nutritional Products | U.S.
Revenue
Net sales	484	475	1,002	928
Pediatric Nutritionals | Nutritional Products | Int'l
Revenue
Net sales	540	576	1,111	1,152
Adult Nutritionals | Nutritional Products
Revenue
Net sales	859	824	1,674	1,587
Adult Nutritionals | Nutritional Products | U.S.
Revenue
Net sales	324	311	618	605
Adult Nutritionals | Nutritional Products | Int'l
Revenue
Net sales	535	513	1,056	982
Core Laboratory | Diagnostic Products
Revenue
Net sales	987	1,169	1,976	2,230
Core Laboratory | Diagnostic Products | U.S.
Revenue
Net sales	289	272	556	521
Core Laboratory | Diagnostic Products | Int'l
Revenue
Net sales	698	897	1,420	1,709
Molecular | Diagnostic Products
Revenue
Net sales	359	107	498	215
Molecular | Diagnostic Products | U.S.
Revenue
Net sales	144	38	209	78
Molecular | Diagnostic Products | Int'l
Revenue
Net sales	215	69	289	137
Point of Care | Diagnostic Products
Revenue
Net sales	118	145	256	280
Point of Care | Diagnostic Products | U.S.
Revenue
Net sales	79	113	182	222
Point of Care | Diagnostic Products | Int'l
Revenue
Net sales	39	32	74	58
Rapid Diagnostics | Diagnostic Products
Revenue
Net sales	530	484	1,090	1,021
Rapid Diagnostics | Diagnostic Products | U.S.
Revenue
Net sales	345	272	713	598
Rapid Diagnostics | Diagnostic Products | Int'l
Revenue
Net sales	185	212	377	423
Rhythm Management | Medical Devices
Revenue
Net sales	401	548	875	1,062
Rhythm Management | Medical Devices | U.S.
Revenue
Net sales	185	273	413	525
Rhythm Management | Medical Devices | Int'l
Revenue
Net sales	216	275	462	537
Electrophysiology | Medical Devices
Revenue
Net sales	299	430	687	835
Electrophysiology | Medical Devices | U.S.
Revenue
Net sales	120	190	284	364
Electrophysiology | Medical Devices | Int'l
Revenue
Net sales	179	240	403	471
Heart Failure | Medical Devices
Revenue
Net sales	158	201	361	385
Heart Failure | Medical Devices | U.S.
Revenue
Net sales	115	149	267	292
Heart Failure | Medical Devices | Int'l
Revenue
Net sales	43	52	94	93
Vascular | Medical Devices
Revenue
Net sales	481	730	1,106	1,439
Vascular | Medical Devices | U.S.
Revenue
Net sales	168	270	398	536
Vascular | Medical Devices | Int'l
Revenue
Net sales	313	460	708	903
Structural Heart | Medical Devices
Revenue
Net sales	223	352	541	676
Structural Heart | Medical Devices | U.S.
Revenue
Net sales	91	152	227	288
Structural Heart | Medical Devices | Int'l
Revenue
Net sales	132	200	314	388
Neuromodulation | Medical Devices
Revenue
Net sales	106	212	283	405
Neuromodulation | Medical Devices | U.S.
Revenue
Net sales	85	168	222	320
Neuromodulation | Medical Devices | Int'l
Revenue
Net sales	21	44	61	85
Diabetes Care | Medical Devices
Revenue
Net sales	755	602	1,507	1,168
Diabetes Care | Medical Devices | U.S.
Revenue
Net sales	202	158	388	310
Diabetes Care | Medical Devices | Int'l
Revenue
Net sales	$ 553	$ 444	$ 1,119	$ 858

Revenue - Remaining Performance

Revenue - Remaining Performance Obligations (Details) $ in Millions	6 Months Ended
	Jun. 30, 2020USD ($)
Diagnostic Products
Remaining Performance Obligations
Remaining performance obligations	$ 3,500
Medical Devices
Remaining Performance Obligations
Remaining performance obligations	$ 415
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01
Remaining Performance Obligations
Expected timing of satisfication period (in months)	24 months
Percentage of remaining performance obligation expected to be recognized in period	60.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Remaining Performance Obligations
Expected timing of satisfication period (in months)	12 months
Percentage of remaining performance obligation expected to be recognized in period	17.00%

Revenue - Practical Expedient (

Revenue - Practical Expedient (Details)	6 Months Ended
	Jun. 30, 2020
Revenue
Practical expedient in remaining performance obligations related to contracts	true

Revenue - Other Contract Assets

Revenue - Other Contract Assets and Liabilities (Details) $ in Millions	6 Months Ended
	Jun. 30, 2020USD ($)
Contract Liabilities
Balance at December 31, 2019	$ 294
Unearned revenue from cash received during the period	233
Revenue recognized related to contract liability balance	(192)
Balance at June 30, 2020	$ 335

Supplemental Financial Inform_3

Supplemental Financial Information - Income Statement (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Supplemental Financial Information
Earnings from continuing operations allocated to common shares	$ 534	$ 1,000	$ 1,075	$ 1,668
Net earnings allocated to common shares	$ 534	$ 1,000	$ 1,095	$ 1,668

Supplemental Financial Inform_4

Supplemental Financial Information - Cash Flows (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flow disclosures
Payment of cash taxes	$ 285	$ 615
Net tax benefits primarily as a result of the resolution of various tax positions related to prior years related to discontinued operation	20
Defined Benefit Plans
Cash flow disclosures
Pension contributions	$ 335	$ 326

Supplemental Financial Inform_5

Supplemental Financial Information - Allowance for Doubtful Accounts (Details) $ in Millions	6 Months Ended
	Jun. 30, 2020USD ($)
Allowances for Doubtful Accounts and Product Returns
Balance at December 31, 2019	$ 228
Impact of adopting ASU 2016-13	266
Provisions/charges to income	45
Amounts charged off and other deductions	(14)
Balance at June 30, 2020	266
Restatement Adjustment | 2016-13
Allowances for Doubtful Accounts and Product Returns
Impact of adopting ASU 2016-13	7
Balance at June 30, 2020	$ 7

Supplemental Financial Inform_6

Supplemental Financial Information - Investments (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2020	Dec. 31, 2018	Dec. 31, 2019
Investments
Long-term Investments	$ 776	$ 776		$ 883
Equity method investments carrying value	283	283
Equity investment without readily determinable fair value	102	102
Impairment of investments	60	110
Unrealized gain			$ 50
Equity securities
Investments
Long-term Investments	728	728		836
Other
Investments
Long-term Investments	48	48		$ 47
St Jude Medical | Equity securities
Investments
Securities in mutual funds held in a rabbi trust	$ 328	$ 328

Supplemental Financial Inform_7

Supplemental Financial Information - General (Details) - Cephea Valve Technologies, Inc $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)
Business acquisitions
Research & development (R&D) asset	$ 102
Research & development expense	$ 102

Changes in Accumulated Other _3

Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Changes in accumulated other comprehensive income (loss), net of income taxes
Beginning of the period			$ 31,088
Net current period comprehensive income (loss)	$ 306	$ 105	(615)	$ 221
End of the period	30,578		30,578
Cumulative Foreign Currency Translation Adjustments
Changes in accumulated other comprehensive income (loss), net of income taxes
Beginning of the period	(6,068)	(4,790)	(4,924)	(4,912)
Other comprehensive income (loss) before reclassifications	355	91	(789)	213
Net current period comprehensive income (loss)	355	91	(789)	213
End of the period	(5,713)	(4,699)	(5,713)	(4,699)
Net Actuarial (Losses) and Prior Service (Costs) and Credits
Changes in accumulated other comprehensive income (loss), net of income taxes
Beginning of the period	(3,483)	(2,703)	(3,540)	(2,726)
Other comprehensive income (loss) before reclassifications	(9)	3	(2)	2
Amounts reclassified from accumulated other comprehensive income	46	23	96	47
Net current period comprehensive income (loss)	37	26	94	49
End of the period	(3,446)	(2,677)	(3,446)	(2,677)
Cumulative Gains (Losses) on Derivative Instruments Designated as Cash Flow Hedges
Changes in accumulated other comprehensive income (loss), net of income taxes
Beginning of the period	165	23	(1)	52
Other comprehensive income (loss) before reclassifications	(67)	(2)	109	(19)
Amounts reclassified from accumulated other comprehensive income	(19)	(10)	(29)	(22)
Net current period comprehensive income (loss)	(86)	(12)	80	(41)
End of the period	$ 79	$ 11	$ 79	$ 11

Goodwill and Intangible Assets

Goodwill and Intangible Assets - Goodwill (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Goodwill and Intangible Assets
Goodwill	$ 23,082	$ 23,195
Decrease in goodwill due to foreign currency translation adjustments	111
Amount of reductions of goodwill relating to impairments	0
Established Pharmaceutical Products
Goodwill and Intangible Assets
Goodwill	2,900
Nutritional Products
Goodwill and Intangible Assets
Goodwill	286
Diagnostic Products
Goodwill and Intangible Assets
Goodwill	3,700
Medical Devices
Goodwill and Intangible Assets
Goodwill	$ 16,200

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Goodwill and Intangible Assets
Gross amount of amortizable intangible assets	$ 27,500	$ 27,600
Accumulated amortization of intangible assets	12,900	11,900
Decrease in intangible assets due to foreign currency translation adjustments	(150)
Estimated annual amortization expense, intangible assets, 2020	2,100
Estimated annual amortization expense, intangible assets, 2021	2,000
Estimated annual amortization expense, intangible assets, 2022	2,000
Estimated annual amortization expense, intangible assets, 2023	2,000
Estimated annual amortization expense, intangible assets, 2024	1,900
Indefinite-lived intangible assets related to in-process R&D acquired in a business combination	$ 1,200	$ 1,300

Restructuring Plans (Details)

Restructuring Plans (Details) $ in Millions	6 Months Ended
	Jun. 30, 2020USD ($)
Restructuring Plan in 2017 to 2020, St Jude and Alere Integrations
Restructuring costs
Accrued balance at December 31, 2019	$ 46
Restructuring charges in 2020	10
Payments and other adjustments	(20)
Accrued balance at June 30, 2020	36
Restructuring Plan in 2017 to 2020, St Jude and Alere Integrations | Cost of products sold
Restructuring costs
Restructuring charges in 2020	3
Restructuring Plan in 2017 to 2020, St Jude and Alere Integrations | Research and development
Restructuring costs
Restructuring charges in 2020	1
Restructuring Plan in 2017 to 2020, St Jude and Alere Integrations | Selling, general and administrative expense
Restructuring costs
Restructuring charges in 2020	6
Restructuring Plan from 2017 to 2020
Restructuring costs
Accrued balance at December 31, 2019	79
Restructuring charges in 2020	23
Payments and other adjustments	(18)
Accrued balance at June 30, 2020	84
Restructuring Plan from 2017 to 2020 | Cost of products sold
Restructuring costs
Restructuring charges in 2020	1
Restructuring Plan from 2017 to 2020 | Research and development
Restructuring costs
Restructuring charges in 2020	1
Restructuring Plan from 2017 to 2020 | Selling, general and administrative expense
Restructuring costs
Restructuring charges in 2020	$ 21

Incentive Stock Programs - Gene

Incentive Stock Programs - General (Details)	6 Months Ended
	Jun. 30, 2020shares
Incentive Stock Program
Incentive stock program, shares reserved for future grants	113,000,000
Stock options
Incentive Stock Program
Stock options granted during the period (in shares)	4,006,336
Restricted stock awards
Incentive Stock Program
Grants in period, restricted stock (in shares)	568,471
Restricted stock units
Incentive Stock Program
Awards and units granted during period (in shares)	5,143,501

Incentive Stock Programs - Opti

Incentive Stock Programs - Options (Details) $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2020USD ($)$ / sharesshares
Incentive Stock Program
Total unrecognized compensation cost	$ 594
Total unrecognized compensation cost, recognition period	3 years
Stock options
Incentive Stock Program
Stock options outstanding, number of shares | shares	30,771,662
Exercisable options, number of shares | shares	21,898,193
Stock options outstanding, weighted-average remaining life	6 years 4 months 24 days
Exercisable options, weighted-average remaining life	5 years 4 months 24 days
Stock options outstanding, weighted-average exercise price (in dollars per share) | $ / shares	$ 54.61
Exercisable options, weighted-average exercise price (in dollars per share) | $ / shares	$ 45.34
Aggregate intrinsic value of options outstanding	$ 1,133
Aggregate intrinsic value of options exercisable	$ 1,009

Debt and Lines of Credit (Detai

Debt and Lines of Credit (Details) - USD ($) $ in Millions	Feb. 24, 2019	Jun. 24, 2020
Senior Notes
Debt and Lines of Credit
Debt issued - principal amount		$ 1,300
1.150% Notes due 2028
Debt and Lines of Credit
Debt issued - principal amount		$ 650
Interest rate percentage		1.15%
1.400% Notes due 2030
Debt and Lines of Credit
Debt issued - principal amount		$ 650
Interest rate percentage		1.40%
2.80% Notes, due 2020
Debt and Lines of Credit
Interest rate percentage	2.80%
Repayments of debt	$ 500

Financial Instruments, Deriva_3

Financial Instruments, Derivatives and Fair Value Measures - Contracts (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Designated as hedging instrument | Yen-denominated long-term debt | Net investment hedges
Financial Instruments, Derivatives and Fair Value Measures
Term loan	$ 556	$ 546
Debt Instrument, Term	5 years	5 years
Designated as hedging instrument | Foreign currency forward exchange contracts | Cash flow hedges
Financial Instruments, Derivatives and Fair Value Measures
Gross notional amount	$ 7,400	$ 6,800
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 | Interest rate swaps | Fair value hedges
Financial Instruments, Derivatives and Fair Value Measures
Gross notional amount	$ 2,900	2,900
Not designated as hedging instrument | Foreign currency forward exchange contracts
Financial Instruments, Derivatives and Fair Value Measures
Gross notional amount	$ 9,200	$ 9,100

Financial Instruments, Deriva_4

Financial Instruments, Derivatives and Fair Value Measures - Location of Derivative Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Derivative instruments, notional amount and fair value
Fair Value - Assets	$ 413	$ 196
Fair Value - Liabilities	661	635
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	243	48
Designated as hedging instrument | Foreign currency forward exchange contracts | Prepaid expenses and other receivables
Derivative instruments, notional amount and fair value
Fair Value - Assets	117	110
Designated as hedging instrument | Foreign currency forward exchange contracts | Other accrued liabilities
Derivative instruments, notional amount and fair value
Fair Value - Liabilities	74	56
Designated as hedging instrument | Debt | Long-term Debt | Net investment hedges
Derivative instruments, notional amount and fair value
Fair Value - Liabilities	556	546
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	53	38
Not designated as hedging instrument | Foreign currency forward exchange contracts | Other accrued liabilities
Derivative instruments, notional amount and fair value
Fair Value - Liabilities	$ 31	$ 33

Financial Instruments, Deriva_5

Financial Instruments, Derivatives and Fair Value Measures - Gain or Loss (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Not designated as hedging instrument
Gain (loss) on derivatives
Income (expense) and Gains (loss) Reclassified into Income	$ 67	$ 26	$ (98)	$ 75
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)	(89)	(2)	138	(21)
Income (expense) and Gains (loss) Reclassified into Income	31	17	42	32
Debt | Net investment hedges | Designated as hedging instrument
Gain (loss) on derivatives
Gain (loss) Recognized in Other Comprehensive Income (loss)	(2)		(10)
Interest rate swaps | Fair value hedges | Designated as hedging instrument | Interest expense
Gain (loss) on derivatives
Income (expense) and Gains (loss) Reclassified into Income	$ 27	$ 96	$ 195	$ 139

Financial Instruments, Deriva_6

Financial Instruments, Derivatives and Fair Value Measures - Carrying Value and Fair Value (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Fair value, asset and liability measures
Long-term Investments	$ 776	$ 883
Equity securities
Fair value, asset and liability measures
Long-term Investments	728	836
Carrying Value
Fair value, asset and liability measures
Total Long-Term Debt	(19,474)	(17,938)
Foreign currency forward exchange contracts, receivable position	170	148
Foreign currency forward exchange contracts, (payable) position	(105)	(89)
Interest rate hedge contracts, receivable position	243	48
Carrying Value | Equity securities
Fair value, asset and liability measures
Long-term Investments	728	836
Carrying Value | Other
Fair value, asset and liability measures
Long-term Investments	48	47
Fair Value
Fair value, asset and liability measures
Total Long-Term Debt	(23,296)	(20,772)
Foreign currency forward exchange contracts, receivable position	170	148
Foreign currency forward exchange contracts, (payable) position	(105)	(89)
Interest rate hedge contracts, receivable position	243	48
Fair Value | Equity securities
Fair value, asset and liability measures
Long-term Investments	728	836
Fair Value | Other
Fair value, asset and liability measures
Long-term Investments	$ 48	$ 47

Financial Instruments, Deriva_7

Financial Instruments, Derivatives and Fair Value Measures - Bases of Measurement (Details) - Recurring - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Fair value, asset and liability measures
Equity securities	$ 343	$ 357
Interest rate swap derivative financial instruments, assets	243	48
Foreign currency forward exchange contracts	170	148
Total Assets	756	553
Fair value of hedged long-term debt	3,082	2,890
Foreign currency forward exchange contracts	105	89
Contingent consideration related to business combinations	68	68
Total Liabilities	3,255	3,047
Quoted Prices in Active Markets
Fair value, asset and liability measures
Equity securities	343	357
Total Assets	343	357
Significant Other Observable Inputs
Fair value, asset and liability measures
Interest rate swap derivative financial instruments, assets	243	48
Foreign currency forward exchange contracts	170	148
Total Assets	413	196
Fair value of hedged long-term debt	3,082	2,890
Foreign currency forward exchange contracts	105	89
Total Liabilities	3,187	2,979
Significant Unobservable Inputs
Fair value, asset and liability measures
Contingent consideration related to business combinations	68	68
Total Liabilities	$ 68	$ 68

Litigation and Environmental _2

Litigation and Environmental Matters (Details) $ in Millions	Jun. 30, 2020USD ($)
Loss Contingencies
Maximum expected cleanup exposure for individual site	$ 4
Maximum expected cleanup exposure in aggregate	10
Legal proceedings and environmental exposures
Loss Contingencies
Recorded accrual balance for legal proceedings and exposures	105
Legal proceedings and environmental exposures | Minimum
Loss Contingencies
Estimation of possible loss	85
Legal proceedings and environmental exposures | Maximum
Loss Contingencies
Estimation of possible loss	$ 120

Post-Employment Benefits - (Det

Post-Employment Benefits - (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Defined Benefit Plans
Defined benefit plan net periodic benefit cost
Service cost - benefits earned during the period	$ 81	$ 61	$ 166	$ 125
Interest cost on projected benefit obligations	74	85	149	169
Expected return on plans assets	(191)	(178)	(383)	(356)
Net amortization of:
Actuarial loss, net	64	33	127	66
Prior service cost (credit)	1	1	1	1
Net cost - continuing operations	29	2	60	5
Post-employment Obligations and Other Long-term Liabilities:
Company contributions			335	326
Medical and Dental Plans
Defined benefit plan net periodic benefit cost
Service cost - benefits earned during the period	11	6	23	12
Interest cost on projected benefit obligations	9	13	21	26
Expected return on plans assets	(7)	(7)	(14)	(14)
Net amortization of:
Actuarial loss, net	2	5	10	11
Prior service cost (credit)	(7)	(8)	(14)	(16)
Net cost - continuing operations	$ 8	$ 9	26	19
Post-employment Obligations and Other Long-term Liabilities:
Company contributions			$ 11	$ 11

Taxes on Earnings (Details)

Taxes on Earnings (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Taxes on Earnings
Tax benefits related to the settlement of the former St. Jude Medical consolidated group's 2014 through 2016 federal income tax returns in the U.S.	$ 81
Excess tax benefits from share based compensation	67	$ 90
Net tax benefits primarily as a result of the resolution of various tax positions related to prior years related to discontinued operation	20
Reduction to the transition tax related to the Tax Cut and Jobs Act (TCJA)		$ 78
Minimum
Taxes on Earnings
Decrease reasonably possible in gross unrecognized tax benefits	70
Maximum
Taxes on Earnings
Decrease reasonably possible in gross unrecognized tax benefits	$ 410

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Information
Net Sales to External Customers	$ 7,328	$ 7,979	$ 15,054	$ 15,514
Operating Earnings	672	1,206	1,430	1,945
Amortization of intangible assets	(553)	(483)	(1,114)	(969)
Earnings from continuing operations before taxes	$ 526	$ 1,102	$ 1,159	$ 1,734
Annual share-based awards recognized in first quarter (as a percent)	50.00%	50.00%	50.00%	50.00%
Established Pharmaceutical Products
Segment Information
Net Sales to External Customers	$ 1,013	$ 1,108	$ 2,057	$ 2,100
Nutritional Products
Segment Information
Net Sales to External Customers	1,883	1,875	3,787	3,667
Diagnostic Products
Segment Information
Net Sales to External Customers	1,994	1,905	3,820	3,746
Medical Devices
Segment Information
Net Sales to External Customers	2,423	3,075	5,360	5,970
Other
Segment Information
Net Sales to External Customers	15	16	30	31
Total Reportable Segments
Segment Information
Net Sales to External Customers	7,313	7,963	15,024	15,483
Operating Earnings	1,593	2,044	3,441	3,864
Total Reportable Segments | Established Pharmaceutical Products
Segment Information
Net Sales to External Customers	1,013	1,108	2,057	2,100
Operating Earnings	206	214	387	373
Total Reportable Segments | Nutritional Products
Segment Information
Net Sales to External Customers	1,883	1,875	3,787	3,667
Operating Earnings	474	447	933	827
Total Reportable Segments | Diagnostic Products
Segment Information
Net Sales to External Customers	1,994	1,905	3,820	3,746
Operating Earnings	522	466	927	900
Total Reportable Segments | Medical Devices
Segment Information
Net Sales to External Customers	2,423	3,075	5,360	5,970
Operating Earnings	391	917	1,194	1,764
Reconciling items
Segment Information
Corporate functions and benefit plan costs	(106)	(99)	(238)	(201)
Net interest expense	(125)	(146)	(246)	(294)
Share-based compensation	(115)	(114)	(348)	(340)
Amortization of intangible assets	(553)	(483)	(1,114)	(969)
Other, net	$ (168)	$ (100)	$ (336)	$ (326)