Abbott Laboratories (ABT) 10-Q 4 Nov 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Sep. 30, 2020shares
Document and Entity Information
Document Type	10-Q
Document Transition Report	false
Document Quarterly Report	true
Document Period End Date	Sep. 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	1,772,361,581
Entity Central Index Key	0000001800
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Condensed Consolidated Statement of Earnings
Net sales	$ 8,853	$ 8,076	$ 23,907	$ 23,590
Cost of products sold, excluding amortization of intangible assets	3,966	3,358	10,510	9,797
Amortization of intangible assets	510	484	1,624	1,453
Research and development	580	596	1,722	1,845
Selling, general and administrative	2,302	2,440	7,126	7,352
Total operating cost and expenses	7,358	6,878	20,982	20,447
Operating earnings	1,495	1,198	2,925	3,143
Interest expense	137	167	410	506
Interest (income)	(10)	(24)	(37)	(69)
Net foreign exchange (gain) loss	(7)	7	(3)	9
Other (income) expense, net	(46)	(55)	(25)	(140)
Earnings from continuing operations before taxes	1,421	1,103	2,580	2,837
Tax expense on earnings from continuing operations	189	143	267	199
Earnings from continuing operations	1,232	960	2,313	2,638
Earnings from discontinued operations, net of tax			20
Net Earnings	$ 1,232	$ 960	$ 2,333	$ 2,638
Basic Earnings Per Common Share
Continuing operations (in dollars per share)	$ 0.69	$ 0.54	$ 1.30	$ 1.48
Discontinued operations (in dollars per share)			0.01
Net earnings (in dollars per share)	0.69	0.54	1.31	1.48
Diluted Earnings Per Common Share
Continuing operations (in dollars per share)	0.69	0.53	1.29	1.47
Discontinued operations (in dollars per share)			0.01
Net earnings (in dollars per share)	$ 0.69	$ 0.53	$ 1.30	$ 1.47
Average Number of Common Shares Outstanding Used for Basic Earnings Per Common Share (in shares)	1,774,475	1,771,521	1,772,166	1,767,985
Dilutive Common Stock Options (in shares)	13,378	12,646	12,381	12,818
Average Number of Common Shares Outstanding Plus Dilutive Common Stock Options (in shares)	1,787,853	1,784,167	1,784,547	1,780,803
Outstanding Common Stock Options Having No Dilutive Effect (in shares)		61		61

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Condensed Consolidated Statement of Comprehensive Income
Net Earnings	$ 1,232	$ 960	$ 2,333	$ 2,638
Foreign currency translation gain (loss) adjustments	112	(478)	(677)	(265)
Net actuarial gains (losses) and amortization of net actuarial losses and prior service costs and credits, net of taxes of $14 and $42 in 2020 and $7 and $21 in 2019	28	31	122	80
Net gains (losses) for derivative instruments designated as cash flow hedges and other, net of taxes of $(43) and $(24) in 2020 and $23 and $8 in 2019	(104)	49	(24)	8
Other comprehensive income (loss)	36	(398)	(579)	(177)
Comprehensive Income	1,268	$ 562	1,754	$ 2,461
Supplemental Accumulated Other Comprehensive Income (Loss) Information, net of tax:
Cumulative foreign currency translation (loss) adjustments	(5,601)		(5,601)		$ (4,924)
Net actuarial (losses) and prior service (costs) and credits	(3,418)		(3,418)		(3,540)
Cumulative gains (losses) on derivative instruments designated as cash flow hedges and other	(25)		(25)		(1)
Accumulated other comprehensive income (loss)	$ (9,044)		$ (9,044)		$ (8,465)

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 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	$ 14	$ 7	$ 42	$ 21
Net gains (losses) for derivative instruments designated as cash flow hedges and other, taxes	$ (43)	$ 23	$ (24)	$ 8

Condensed Consolidated Balance

Condensed Consolidated Balance Sheet - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Current Assets:
Cash and cash equivalents	$ 4,480	$ 3,860
Short-term investments	251	280
Trade receivables, less allowances of $446 in 2020 and $384 in 2019	5,649	5,425
Inventories:
Finished products	3,173	2,784
Work in process	721	560
Materials	1,258	972
Total inventories	5,152	4,316
Prepaid expenses and other receivables	1,858	1,786
Total Current Assets	17,390	15,667
Investments	803	883
Property and equipment, at cost	17,972	16,799
Less: accumulated depreciation and amortization	9,352	8,761
Net property and equipment	8,620	8,038
Intangible assets, net of amortization	15,208	17,025
Goodwill	23,338	23,195
Deferred income taxes and other assets	3,684	3,079
Total Assets	69,043	67,887
Current Liabilities:
Short-term borrowings	208	201
Trade accounts payable	3,189	3,252
Salaries, wages and commissions	1,439	1,237
Other accrued liabilities	4,659	4,035
Dividends payable	639	635
Income taxes payable	117	226
Current portion of long-term debt	6	1,277
Total Current Liabilities	10,257	10,863
Long-term debt	18,349	16,661
Post-employment obligations, deferred income taxes and other long-term liabilities	8,842	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: 1,980,767,223; 2019: 1,976,855,085	24,037	23,853
Common shares held in treasury, at cost - Shares: 2020: 208,405,642; 2019: 214,351,838	(9,873)	(10,147)
Earnings employed in the business	26,266	25,847
Accumulated other comprehensive income (loss)	(9,044)	(8,465)
Total Abbott Shareholders' Investment	31,386	31,088
Noncontrolling Interests in Subsidiaries	209	213
Total Shareholders' Investment	31,595	31,301
Total Liabilities and Shareholders' Investment	$ 69,043	$ 67,887

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Condensed Consolidated Balance Sheet
Trade receivables, allowances (in dollars)	$ 446	$ 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	1,980,767,223	1,976,855,085
Common shares held in treasury, shares	208,405,642	214,351,838

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Shareholders' Investment - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Increase (Decrease) in Shareholders' Investment
Balance at beginning of period			$ 31,301
Net earnings	$ 1,232	$ 960	2,333	$ 2,638
Other comprehensive income (loss)	36	(398)	(579)	(177)
Balance at end of period	31,595		31,595
Common Shares:
Increase (Decrease) in Shareholders' Investment
Balance at beginning of period	23,893	23,665	23,853	23,512
Issued under incentive stock programs	48	18	167	205
Share-based compensation	101	93	451	436
Issuance of restricted stock awards	(5)	(5)	(434)	(382)
Balance at end of period	24,037	23,771	24,037	23,771
Common Shares Held in Treasury:
Increase (Decrease) in Shareholders' Investment
Balance at beginning of period	(9,904)	(9,659)	(10,147)	(9,962)
Issuance of restricted stock awards	32	28	295	352
Purchased	(1)		(21)	(21)
Balance at end of period	(9,873)	(9,631)	(9,873)	(9,631)
Earnings Employed in the Business:
Increase (Decrease) in Shareholders' Investment
Balance at beginning of period	25,669	25,045	25,847	24,560
Net earnings	1,232	960	2,333	2,638
Cash dividends declared on common shares	(641)	(570)	(1,922)	(1,706)
Effect of common and treasury share transactions	6	5	13	(52)
Balance at end of period	26,266	25,440	26,266	25,440
Earnings Employed in the Business: | Impact of adoption of new accounting standard
Increase (Decrease) in Shareholders' Investment
Balance at beginning of period			(5)
Accumulated Other Comprehensive Income (Loss):
Increase (Decrease) in Shareholders' Investment
Balance at beginning of period	(9,080)	(7,365)	(8,465)	(7,586)
Other comprehensive income (loss)	36	(398)	(579)	(177)
Balance at end of period	(9,044)	(7,763)	(9,044)	(7,763)
Noncontrolling Interests in Subsidiaries:
Increase (Decrease) in Shareholders' Investment
Balance at beginning of period	220	208	213	198
Noncontrolling Interests' share of income, business combinations, net of distributions and share repurchases	(11)	(6)	(4)	4
Balance at end of period	$ 209	$ 202	$ 209	$ 202

Condensed Consolidated Statem_5

Condensed Consolidated Statement of Shareholders' Investment (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Common Shares:
Increase (Decrease) in Shareholders' Investment
Balance at beginning of period (in shares)	1,979,594,379	1,976,248,129	1,976,855,085	1,971,189,465
Issued under incentive stock programs (in shares)	1,172,844	457,156	3,912,138	5,515,820
Balance at end of period (in shares)	1,980,767,223	1,976,705,285	1,980,767,223	1,976,705,285
Common Shares Held in Treasury:
Increase (Decrease) in Shareholders' Investment
Balance at beginning of period (in shares)	209,064,380	208,850,514	214,351,838	215,570,043
Issued under incentive stock programs (in shares)	664,727	605,458	6,211,326	7,591,844
Purchased (in shares)	5,989	4,524	265,130	271,381
Balance at end of period (in shares)	208,405,642	208,249,580	208,405,642	208,249,580
Earnings Employed in the Business:
Increase (Decrease) in Shareholders' Investment
Cash dividends declared per common share	$ 0.36	$ 0.32	$ 1.08	$ 0.96

Condensed Consolidated Statem_6

Condensed Consolidated Statement of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash Flow From (Used in) Operating Activities:
Net earnings	$ 2,333	$ 2,638
Adjustments to reconcile net earnings to net cash from operating activities -
Depreciation	837	805
Amortization of intangible assets	1,624	1,453
Share-based compensation	448	434
Trade receivables	(343)	(357)
Inventories	(838)	(730)
Other, net	42	(523)
Net Cash From Operating Activities	4,103	3,720
Cash Flow From (Used in) Investing Activities:
Acquisitions of property and equipment	(1,498)	(1,204)
Acquisitions of businesses and technologies, net of cash acquired	(32)	(171)
Proceeds from business dispositions	48	48
Sales (purchases) of other investment securities, net	(15)	(22)
Other	13	23
Net Cash (Used in) Investing Activities	(1,484)	(1,326)
Cash Flow From (Used in) Financing Activities:
Net borrowings (repayments) of short-term debt and other	3	52
Proceeds from issuance of long-term debt	1,280
Repayments of long-term debt	(1,332)	(523)
Purchases of common shares	(242)	(222)
Proceeds from stock options exercised	229	291
Dividends paid	(1,919)	(1,702)
Other	(11)
Net Cash (Used in) Financing Activities	(1,992)	(2,104)
Effect of exchange rate changes on cash and cash equivalents	(7)	(43)
Net Increase in Cash and Cash Equivalents	620	247
Cash and Cash Equivalents, Beginning of Year	3,860	3,844
Cash and Cash Equivalents, End of Period	$ 4,480	$ 4,091

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 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	9 Months Ended
	Sep. 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	9 Months Ended
	Sep. 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 September 30, 2020 ​ Three Months Ended September 30, 2019 ​ (in millions) U.S. Int’l Total U.S. Int’l Total Established Pharmaceutical Products — ​ ​ ​ ​ ​ ​ ​ ​ Key Emerging Markets ​ $ — ​ $ 799 ​ $ 799 ​ $ — ​ $ 891 ​ $ 891 ​ Other ​ — ​ 300 ​ 300 ​ — ​ 321 ​ ​ 321 ​ Total ​ — ​ 1,099 ​ 1,099 ​ — ​ 1,212 ​ 1,212 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nutritionals — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pediatric Nutritionals ​ 488 ​ 518 ​ 1,006 ​ 478 ​ 566 ​ 1,044 ​ Adult Nutritionals ​ 330 ​ 588 ​ 918 ​ 310 ​ 520 ​ 830 ​ Total ​ 818 ​ 1,106 ​ 1,924 ​ 788 ​ 1,086 ​ 1,874 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diagnostics — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Core Laboratory ​ 284 ​ 892 ​ 1,176 ​ 272 ​ 905 ​ 1,177 ​ Molecular ​ 220 ​ 238 ​ 458 ​ 35 ​ 76 ​ 111 ​ Point of Care ​ 96 ​ 35 ​ 131 ​ 112 ​ 32 ​ 144 ​ Rapid Diagnostics ​ 533 ​ 342 ​ 875 ​ 283 ​ 194 ​ 477 ​ Total ​ 1,133 ​ 1,507 ​ 2,640 ​ 702 ​ 1,207 ​ 1,909 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Medical Devices — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Rhythm Management ​ 242 ​ 265 ​ 507 ​ 265 ​ 273 ​ 538 ​ Electrophysiology ​ 192 ​ 249 ​ 441 ​ 185 ​ 242 ​ 427 ​ Heart Failure ​ 144 ​ 46 ​ 190 ​ 136 ​ 50 ​ 186 ​ Vascular ​ 230 ​ 400 ​ 630 ​ 251 ​ 446 ​ 697 ​ Structural Heart ​ 159 ​ 194 ​ 353 ​ 158 ​ 190 ​ 348 ​ Neuromodulation ​ 170 ​ 36 ​ 206 ​ 165 ​ 39 ​ 204 ​ Diabetes Care ​ ​ 226 ​ ​ 617 ​ ​ 843 ​ ​ 175 ​ ​ 490 ​ ​ 665 ​ Total ​ 1,363 ​ 1,807 ​ 3,170 ​ 1,335 ​ 1,730 ​ 3,065 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other ​ 15 ​ 5 ​ 20 ​ 9 ​ 7 ​ 16 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 3,329 ​ $ 5,524 ​ $ 8,853 ​ $ 2,834 ​ $ 5,242 ​ $ 8,076 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, 2020 ​ Nine Months Ended September 30, 2019 (in millions) U.S. Int’l Total U.S. Int’l Total Established Pharmaceutical Products — ​ ​ ​ ​ ​ ​ ​ Key Emerging Markets ​ $ — ​ $ 2,376 ​ $ 2,376 ​ $ — ​ $ 2,496 ​ $ 2,496 Other ​ — ​ 780 ​ 780 ​ — ​ 816 ​ ​ 816 Total ​ — ​ 3,156 ​ 3,156 ​ — ​ 3,312 ​ 3,312 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nutritionals — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pediatric Nutritionals ​ 1,490 ​ 1,629 ​ 3,119 ​ 1,406 ​ 1,718 ​ 3,124 Adult Nutritionals ​ 948 ​ 1,644 ​ 2,592 ​ 915 ​ 1,502 ​ 2,417 Total ​ 2,438 ​ 3,273 ​ 5,711 ​ 2,321 ​ 3,220 ​ 5,541 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diagnostics — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Core Laboratory ​ 840 ​ 2,312 ​ 3,152 ​ 793 ​ 2,614 ​ 3,407 Molecular ​ 429 ​ 527 ​ 956 ​ 113 ​ 213 ​ 326 Point of Care ​ 278 ​ 109 ​ 387 ​ 334 ​ 90 ​ 424 Rapid Diagnostics ​ 1,246 ​ 719 ​ 1,965 ​ 881 ​ 617 ​ 1,498 Total ​ 2,793 ​ 3,667 ​ 6,460 ​ 2,121 ​ 3,534 ​ 5,655 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Medical Devices — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Rhythm Management ​ 655 ​ 727 ​ 1,382 ​ 790 ​ 810 ​ 1,600 Electrophysiology ​ 476 ​ 652 ​ 1,128 ​ 549 ​ 713 ​ 1,262 Heart Failure ​ 411 ​ 140 ​ 551 ​ 428 ​ 143 ​ 571 Vascular ​ 628 ​ 1,108 ​ 1,736 ​ 787 ​ 1,349 ​ 2,136 Structural Heart ​ 386 ​ 508 ​ 894 ​ 446 ​ 578 ​ 1,024 Neuromodulation ​ 392 ​ 97 ​ 489 ​ 485 ​ 124 ​ 609 Diabetes Care ​ ​ 614 ​ ​ 1,736 ​ ​ 2,350 ​ ​ 485 ​ ​ 1,348 ​ ​ 1,833 Total ​ 3,562 ​ 4,968 ​ 8,530 ​ 3,970 ​ 5,065 ​ 9,035 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other ​ 30 ​ 20 ​ 50 ​ 26 ​ 21 ​ 47 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 8,823 ​ $ 15,084 ​ $ 23,907 ​ $ 8,438 ​ $ 15,152 ​ $ 23,590 ​ Remaining Performance Obligations ​ As of September 30, 2020, the estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) was approximately $3.6 billion in the Diagnostics segment and approximately $430 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 18 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 ​ ​ 350 Revenue recognized related to contract liability balance ​ ​ (293) Balance at September 30, 2020 ​ $ 351 ​

Supplemental Financial Informat

Supplemental Financial Information	9 Months Ended
	Sep. 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 September 30, 2020 and 2019 were $1.226 billion and $954 million, respectively, and for the nine months ended September 30, 2020 and 2019 were $2.302 billion and $2.622 billion, respectively. Net earnings allocated to common shares for the three months ended September 30, 2020 and 2019 were $1.226 billion and $954 million, respectively, and for the nine months ended September 30, 2020 and 2019 were $2.322 billion and $2.622 billion, respectively. ​ Earnings from discontinued operations, net of tax, in the first nine 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. ​ Other, net in Net cash from operating activities in the Condensed Consolidated Statement of Cash Flows for the first nine months of 2020 includes $350 million of pension contributions and the payment of cash taxes of approximately $700 million. The first nine months of 2019 includes $337 million of pension contributions and the payment of cash taxes of approximately $775 million. ​ The following summarizes the activity for the first nine months of 2020 related to the allowance for doubtful accounts as of September 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 ​ ​ 63 Amounts charged off and other deductions ​ (14) Balance at September 30, 2020 ​ $ 284 ​ The allowance for doubtful accounts reflects the current estimate of credit losses expected to be incurred over the life of the accounts receivable. 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 September 30, 2020 and December 31, 2019 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, (in millions) 2020 2019 Long-term Investments ​ ​ ​ ​ ​ ​ Equity securities ​ $ 755 ​ $ 836 Other ​ 48 ​ 47 Total ​ $ 803 ​ $ 883 ​ Abbott’s long-term investments as of September 30, 2020 declined versus the balance as of December 31, 2019 due to investment impairments totaling approximately $110 million, recorded in Other (income) expense, net within the Condensed Consolidated Statement of Earnings, which was partially offset by approximately $30 million of additional investments during the first nine months of 2020. ​ Abbott's equity securities as of September 30, 2020 include approximately $336 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 September 30, 2020 with a carrying value of approximately $292 million that are accounted for under the equity method of accounting and other equity investments with a carrying value of approximately $112 million that do not have a readily determinable fair value. The $112 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)	9 Months Ended
	Sep. 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 September 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 June 30 ​ $ (5,713) ​ $ (4,699) ​ $ (3,446) ​ $ (2,677) ​ $ 79 ​ $ 11 Other comprehensive income (loss) before reclassifications ​ 112 ​ (478) ​ ​ (21) ​ 7 ​ (74) ​ 67 Amounts reclassified from accumulated other comprehensive income ​ — ​ — ​ 49 ​ 24 ​ (30) ​ (18) Net current period comprehensive income (loss) ​ 112 ​ (478) ​ 28 ​ 31 ​ (104) ​ 49 Balance at September 30 ​ $ (5,601) ​ $ (5,177) ​ $ (3,418) ​ $ (2,646) ​ $ (25) ​ $ 60 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 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 ​ (677) ​ (265) ​ (23) ​ 9 ​ 35 ​ 48 Amounts reclassified from accumulated other comprehensive income ​ — ​ ​ — ​ 145 ​ 71 ​ (59) ​ (40) Net current period comprehensive income (loss) ​ (677) ​ (265) ​ 122 ​ 80 ​ (24) ​ 8 Balance at September 30 ​ $ (5,601) ​ $ (5,177) ​ $ (3,418) ​ $ (2,646) ​ $ (25) ​ $ 60 ​ 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	9 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets
Goodwill and Intangible Assets	Note 6 — Goodwill and Intangible Assets ​ The total amount of goodwill reported was $23.3 billion at September 30, 2020 and $23.2 billion at December 31, 2019. Foreign currency translation adjustments increased goodwill by approximately $144 million in the first nine months of 2020. The amount of goodwill related to reportable segments at September 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 $16.4 billion for the Medical Devices segment. There was no reduction of goodwill relating to impairments in the first nine months of 2020. ​ The gross amount of amortizable intangible assets, primarily product rights and technology, was $27.5 billion as of September 30, 2020 and $27.6 billion as of December 31, 2019, and accumulated amortization was $13.5 billion as of September 30, 2020 and $11.9 billion as of December 31, 2019. Foreign currency translation adjustments decreased intangible assets by $69 million in the first nine months of 2020. An asset impairment related to the Medical Devices segment decreased intangible assets by $148 million in the third quarter and first nine months of 2020. The impairment was recorded in the Cost of products sold, excluding amortization of intangible assets line of Abbott's Condensed Consolidated Statement of Earnings. Abbott’s estimated annual amortization expense for intangible assets is approximately $2.1 billion in 2020, $2.0 billion per year 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 September 30, 2020 and December 31, 2019, respectively .

Restructuring Plans

Restructuring Plans	9 Months Ended
	Sep. 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 nine months of 2020, charges of $13 million were recognized, of which $6 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 nine months of 2020 related to these actions and the status of the related accrual as of September 30, 2020: ​ ​ ​ ​ ​ (in millions) ​ ​ Accrued balance at December 31, 2019 ​ $ 46 Restructuring charges recorded in 2020 ​ ​ 13 Payments and other adjustments ​ ​ (24) Accrued balance at September 30, 2020 ​ $ 35 ​ 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 nine months of 2020, charges of $29 million were recognized, of which $1 million is recorded in Cost of products sold, $1 million is recorded in Research and development and $27 million as Selling, general and administrative expense. The following summarizes the activity for the first nine months of 2020 related to these restructuring actions and the status of the related accrual as of September 30, 2020: ​ ​ ​ ​ ​ (in millions) ​ ​ Accrued balance at December 31, 2019 ​ $ 79 Restructuring charges recorded in 2020 ​ ​ 29 Payments and other adjustments ​ ​ (24) Accrued balance at September 30, 2020 ​ $ 84 ​

Incentive Stock Programs

Incentive Stock Programs	9 Months Ended
	Sep. 30, 2020
Incentive Stock Programs
Incentive Stock Programs	Note 8 — Incentive Stock Programs ​ In the first nine months of 2020, Abbott granted 4,006,336 stock options, 568,471 restricted stock awards and 5,183,375 restricted stock units under its current incentive stock program. At September 30, 2020, approximately 113 million common shares were reserved for future grants. Information regarding the number of options outstanding and exercisable at September 30, 2020 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding Exercisable Number of shares 29,352,400 ​ 20,764,950 Weighted average remaining life ( years 6.2 ​ 5.2 Weighted average exercise price $ 55.34 ​ $ 45.92 Aggregate intrinsic value ( in millions $ 1,570 ​ $ 1,306 ​ The total unrecognized share-based compensation cost at September 30, 2020 amounted to approximately $499 million which is expected to be recognized over the next three years .

Debt and Lines of Credit

Debt and Lines of Credit	9 Months Ended
	Sep. 30, 2020
Debt and Lines of Credit
Debt and Lines of Credit	Note 9 — Debt and Lines of Credit ​ On September 28, 2020, Abbott repaid the €1.140 billion outstanding principal amount of its 0.00% Notes due 2020 upon maturity. The repayment equated to approximately $1.3 billion. ​ 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	9 Months Ended
	Sep. 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 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 $7.9 billion at September 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 September 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 September 30, 2020 and December 31, 2019, Abbott held the gross notional amount of $8.9 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 $566 million and $546 million as of September 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 September 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 September 30, 2020 and December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value - Assets ​ Fair Value - Liabilities ​ ​ Sept. 30, ​ Dec. 31, ​ ​ ​ Sept. 30, ​ Dec. 31, ​ (in millions) 2020 2019 Balance Sheet Caption 2020 2019 Balance Sheet Caption Interest rate swaps designated as fair value hedges ​ $ 232 $ 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 ​ 89 ​ 110 Prepaid expenses and other receivables ​ 241 ​ 56 Other accrued liabilities Others not designated as hedges ​ 37 ​ 38 Prepaid expenses and other receivables ​ 62 ​ 33 Other accrued liabilities Debt designated as a hedge of net investment in a foreign subsidiary ​ ​ — ​ ​ — ​ n/a ​ ​ 566 ​ ​ 546 ​ Long-term debt ​ ​ $ 358 $ 196 ​ ​ $ 869 $ 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 nine months ended September 30, 2020 and 2019. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain (loss) Recognized in Other ​ Income (expense) and Gain (loss) ​ ​ ​ ​ Comprehensive Income (loss) ​ Reclassified into Income ​ ​ ​ ​ Three Months ​ Nine Months ​ Three Months ​ Nine Months ​ ​ ​ ​ Ended Sept. 30 ​ Ended Sept. 30 ​ Ended Sept. 30 ​ Ended Sept. 30 ​ ​ (in millions) 2020 2019 ​ 2020 2019 2020 2019 ​ 2020 2019 Income Statement Caption Foreign currency forward exchange contracts designated as cash flow hedges ​ $ 103 ​ $ 99 ​ $ (35) ​ $ 78 ​ $ 48 ​ $ 26 ​ $ 90 ​ $ 58 ​ Cost of products sold Debt designated as a hedge of net investment in a foreign subsidiary ​ (10) ​ — ​ (20) ​ — ​ — ​ — ​ — ​ — n/a Interest rate swaps designated as fair value hedges ​ n/a ​ n/a ​ n/a ​ n/a ​ (11) ​ 35 ​ 184 ​ 174 Interest expense ​ Losses of $100 million and gains of $49 million were recognized in the three months ended September 30, 2020 and 2019, respectively, related to foreign currency forward exchange contracts not designated as a hedge. Losses of $198 million and gains of $124 million were recognized in the nine months ended September 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 September 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. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ December 31, 2019 ​ ​ Carrying Fair Carrying Fair ​ (in millions) ​ Value ​ Value ​ Value ​ Value Long-term Investment Securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity securities ​ $ 755 ​ $ 755 ​ $ 836 ​ $ 836 ​ Other ​ 48 ​ 48 ​ 47 ​ 47 ​ Total Long-term Debt ​ ​ (18,355) ​ ​ (22,224) ​ ​ (17,938) ​ ​ (20,772) ​ Foreign Currency Forward Exchange Contracts: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivable position ​ 126 ​ 126 ​ 148 ​ 148 ​ (Payable) position ​ ​ (303) ​ ​ (303) ​ ​ (89) ​ ​ (89) ​ Interest Rate Hedge Contracts: ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivable position ​ ​ 232 ​ ​ 232 ​ ​ 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 September 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity securities ​ $ 351 ​ $ 351 $ — $ — Interest rate swap derivative financial instruments ​ 232 ​ — ​ 232 ​ — Foreign currency forward exchange contracts ​ 126 ​ — ​ 126 ​ — Total Assets ​ $ 709 $ 351 $ 358 $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value of hedged long-term debt ​ $ 3,070 ​ $ — $ 3,070 $ — Foreign currency forward exchange contracts ​ ​ 303 ​ ​ — ​ ​ 303 ​ ​ — Contingent consideration related to business combinations ​ 68 ​ — ​ — ​ 68 Total Liabilities ​ $ 3,441 $ — $ 3,373 ​ $ 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	9 Months Ended
	Sep. 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 September 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	9 Months Ended
	Sep. 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 nine months ended September 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 ​ Nine Months ​ Three Months ​ Nine Months ​ ​ Ended September 30 ​ Ended September 30 ​ Ended September 30 ​ Ended September 30 (in millions) 2020 2019 2020 2019 2020 2019 2020 2019 Service cost — benefits earned during the period ​ $ 85 ​ $ 63 ​ $ 251 ​ $ 188 ​ $ 12 ​ $ 5 ​ $ 35 ​ $ 17 Interest cost on projected benefit obligations ​ 75 ​ 84 ​ 224 ​ 253 ​ 11 ​ 13 ​ 32 ​ 39 Expected return on plan assets ​ (193) ​ (177) ​ (576) ​ (533) ​ (7) ​ (6) ​ (21) ​ (20) Net amortization of: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Actuarial loss, net ​ ​ 64 ​ ​ 33 ​ ​ 191 ​ ​ 99 ​ ​ 5 ​ ​ 6 ​ ​ 15 ​ ​ 17 Prior service cost (credit) ​ ​ — ​ ​ — ​ ​ 1 ​ ​ 1 ​ ​ (7) ​ ​ (8) ​ ​ (21) ​ ​ (24) Net cost - continuing operations ​ $ 31 ​ $ 3 ​ $ 91 ​ $ 8 ​ $ 14 ​ $ 10 ​ $ 40 ​ $ 29 ​ Abbott funds its domestic defined benefit plans according to Internal Revenue Service funding limitations. International pension plans are funded according to similar regulations. In the first nine months of 2020 and 2019, $350 million and $337 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	9 Months Ended
	Sep. 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 nine 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 $87 million in excess tax benefits associated with share-based compensation. Earnings from discontinued operations, net of tax, in the first nine 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 nine 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 $95 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	9 Months Ended
	Sep. 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 ​ Nine Months ​ Three Months ​ Nine Months ​ ​ Ended September 30 ​ Ended September 30 ​ Ended September 30 ​ Ended September 30 (in millions) 2020 2019 2020 2019 2020 2019 2020 2019 Established Pharmaceutical Products ​ $ 1,099 ​ $ 1,212 ​ $ 3,156 ​ $ 3,312 ​ $ 201 ​ $ 281 ​ $ 588 ​ $ 654 Nutritional Products ​ 1,924 ​ 1,874 ​ 5,711 ​ 5,541 ​ 394 ​ 414 ​ 1,327 ​ 1,241 Diagnostic Products ​ 2,640 ​ 1,909 ​ 6,460 ​ 5,655 ​ 875 ​ 456 ​ 1,802 ​ 1,356 Medical Devices ​ 3,170 ​ 3,065 ​ 8,530 ​ 9,035 ​ 928 ​ 958 ​ 2,122 ​ 2,722 Total Reportable Segments ​ 8,833 ​ 8,060 ​ 23,857 ​ 23,543 ​ 2,398 ​ 2,109 ​ 5,839 ​ ​ 5,973 Other ​ 20 ​ 16 ​ 50 ​ 47 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net sales ​ $ 8,853 ​ $ 8,076 ​ $ 23,907 ​ $ 23,590 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate functions and benefit plan costs ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (129) ​ ​ (131) ​ ​ (367) ​ ​ (332) Net interest expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (127) ​ ​ (143) ​ ​ (373) ​ ​ (437) Share-based compensation (a) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (100) ​ ​ (94) ​ ​ (448) ​ ​ (434) Amortization of intangible assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (510) ​ ​ (484) ​ ​ (1,624) ​ ​ (1,453) Other, net (b) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (111) ​ ​ (154) ​ ​ (447) ​ ​ (480) Earnings from continuing operations before taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 1,421 ​ $ 1,103 ​ $ 2,580 ​ $ 2,837 (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 nine months ended September 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 nine months ended September 30, 2020 also includes costs related to asset impairments, partially offset by income from the settlement of litigation. Other, net for the nine months ended September 30, 2019 includes charges associated with R&D assets acquired and immediately expensed.

New Accounting Standards (Polic

New Accounting Standards (Policies)	9 Months Ended
	Sep. 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)	9 Months Ended
	Sep. 30, 2020
Revenue
Schedule of reportable segment included under sales category	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, 2020 ​ Three Months Ended September 30, 2019 ​ (in millions) U.S. Int’l Total U.S. Int’l Total Established Pharmaceutical Products — ​ ​ ​ ​ ​ ​ ​ ​ Key Emerging Markets ​ $ — ​ $ 799 ​ $ 799 ​ $ — ​ $ 891 ​ $ 891 ​ Other ​ — ​ 300 ​ 300 ​ — ​ 321 ​ ​ 321 ​ Total ​ — ​ 1,099 ​ 1,099 ​ — ​ 1,212 ​ 1,212 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nutritionals — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pediatric Nutritionals ​ 488 ​ 518 ​ 1,006 ​ 478 ​ 566 ​ 1,044 ​ Adult Nutritionals ​ 330 ​ 588 ​ 918 ​ 310 ​ 520 ​ 830 ​ Total ​ 818 ​ 1,106 ​ 1,924 ​ 788 ​ 1,086 ​ 1,874 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diagnostics — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Core Laboratory ​ 284 ​ 892 ​ 1,176 ​ 272 ​ 905 ​ 1,177 ​ Molecular ​ 220 ​ 238 ​ 458 ​ 35 ​ 76 ​ 111 ​ Point of Care ​ 96 ​ 35 ​ 131 ​ 112 ​ 32 ​ 144 ​ Rapid Diagnostics ​ 533 ​ 342 ​ 875 ​ 283 ​ 194 ​ 477 ​ Total ​ 1,133 ​ 1,507 ​ 2,640 ​ 702 ​ 1,207 ​ 1,909 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Medical Devices — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Rhythm Management ​ 242 ​ 265 ​ 507 ​ 265 ​ 273 ​ 538 ​ Electrophysiology ​ 192 ​ 249 ​ 441 ​ 185 ​ 242 ​ 427 ​ Heart Failure ​ 144 ​ 46 ​ 190 ​ 136 ​ 50 ​ 186 ​ Vascular ​ 230 ​ 400 ​ 630 ​ 251 ​ 446 ​ 697 ​ Structural Heart ​ 159 ​ 194 ​ 353 ​ 158 ​ 190 ​ 348 ​ Neuromodulation ​ 170 ​ 36 ​ 206 ​ 165 ​ 39 ​ 204 ​ Diabetes Care ​ ​ 226 ​ ​ 617 ​ ​ 843 ​ ​ 175 ​ ​ 490 ​ ​ 665 ​ Total ​ 1,363 ​ 1,807 ​ 3,170 ​ 1,335 ​ 1,730 ​ 3,065 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other ​ 15 ​ 5 ​ 20 ​ 9 ​ 7 ​ 16 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 3,329 ​ $ 5,524 ​ $ 8,853 ​ $ 2,834 ​ $ 5,242 ​ $ 8,076 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, 2020 ​ Nine Months Ended September 30, 2019 (in millions) U.S. Int’l Total U.S. Int’l Total Established Pharmaceutical Products — ​ ​ ​ ​ ​ ​ ​ Key Emerging Markets ​ $ — ​ $ 2,376 ​ $ 2,376 ​ $ — ​ $ 2,496 ​ $ 2,496 Other ​ — ​ 780 ​ 780 ​ — ​ 816 ​ ​ 816 Total ​ — ​ 3,156 ​ 3,156 ​ — ​ 3,312 ​ 3,312 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nutritionals — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pediatric Nutritionals ​ 1,490 ​ 1,629 ​ 3,119 ​ 1,406 ​ 1,718 ​ 3,124 Adult Nutritionals ​ 948 ​ 1,644 ​ 2,592 ​ 915 ​ 1,502 ​ 2,417 Total ​ 2,438 ​ 3,273 ​ 5,711 ​ 2,321 ​ 3,220 ​ 5,541 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diagnostics — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Core Laboratory ​ 840 ​ 2,312 ​ 3,152 ​ 793 ​ 2,614 ​ 3,407 Molecular ​ 429 ​ 527 ​ 956 ​ 113 ​ 213 ​ 326 Point of Care ​ 278 ​ 109 ​ 387 ​ 334 ​ 90 ​ 424 Rapid Diagnostics ​ 1,246 ​ 719 ​ 1,965 ​ 881 ​ 617 ​ 1,498 Total ​ 2,793 ​ 3,667 ​ 6,460 ​ 2,121 ​ 3,534 ​ 5,655 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Medical Devices — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Rhythm Management ​ 655 ​ 727 ​ 1,382 ​ 790 ​ 810 ​ 1,600 Electrophysiology ​ 476 ​ 652 ​ 1,128 ​ 549 ​ 713 ​ 1,262 Heart Failure ​ 411 ​ 140 ​ 551 ​ 428 ​ 143 ​ 571 Vascular ​ 628 ​ 1,108 ​ 1,736 ​ 787 ​ 1,349 ​ 2,136 Structural Heart ​ 386 ​ 508 ​ 894 ​ 446 ​ 578 ​ 1,024 Neuromodulation ​ 392 ​ 97 ​ 489 ​ 485 ​ 124 ​ 609 Diabetes Care ​ ​ 614 ​ ​ 1,736 ​ ​ 2,350 ​ ​ 485 ​ ​ 1,348 ​ ​ 1,833 Total ​ 3,562 ​ 4,968 ​ 8,530 ​ 3,970 ​ 5,065 ​ 9,035 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other ​ 30 ​ 20 ​ 50 ​ 26 ​ 21 ​ 47 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 8,823 ​ $ 15,084 ​ $ 23,907 ​ $ 8,438 ​ $ 15,152 ​ $ 23,590 ​
Schedule of changes in contract liabilities	​ ​ ​ ​ ​ (in millions) ​ ​ Contract Liabilities ​ ​ ​ Balance at December 31, 2019 ​ $ 294 Unearned revenue from cash received during the period ​ ​ 350 Revenue recognized related to contract liability balance ​ ​ (293) Balance at September 30, 2020 ​ $ 351

Supplemental Financial Inform_2

Supplemental Financial Information (Tables)	9 Months Ended
	Sep. 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 ​ ​ 63 Amounts charged off and other deductions ​ (14) Balance at September 30, 2020 ​ $ 284 ​
Schedule of long-term investments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, (in millions) 2020 2019 Long-term Investments ​ ​ ​ ​ ​ ​ Equity securities ​ $ 755 ​ $ 836 Other ​ 48 ​ 47 Total ​ $ 803 ​ $ 883

Changes in Accumulated Other _2

Changes in Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2020
Changes in Accumulated Other Comprehensive Income (Loss)
Schedule of accumulated other comprehensive income (loss), net of taxes	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 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 June 30 ​ $ (5,713) ​ $ (4,699) ​ $ (3,446) ​ $ (2,677) ​ $ 79 ​ $ 11 Other comprehensive income (loss) before reclassifications ​ 112 ​ (478) ​ ​ (21) ​ 7 ​ (74) ​ 67 Amounts reclassified from accumulated other comprehensive income ​ — ​ — ​ 49 ​ 24 ​ (30) ​ (18) Net current period comprehensive income (loss) ​ 112 ​ (478) ​ 28 ​ 31 ​ (104) ​ 49 Balance at September 30 ​ $ (5,601) ​ $ (5,177) ​ $ (3,418) ​ $ (2,646) ​ $ (25) ​ $ 60 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 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 ​ (677) ​ (265) ​ (23) ​ 9 ​ 35 ​ 48 Amounts reclassified from accumulated other comprehensive income ​ — ​ ​ — ​ 145 ​ 71 ​ (59) ​ (40) Net current period comprehensive income (loss) ​ (677) ​ (265) ​ 122 ​ 80 ​ (24) ​ 8 Balance at September 30 ​ $ (5,601) ​ $ (5,177) ​ $ (3,418) ​ $ (2,646) ​ $ (25) ​ $ 60

Restructuring Plans (Tables)

Restructuring Plans (Tables)	9 Months Ended
	Sep. 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 ​ ​ 13 Payments and other adjustments ​ ​ (24) Accrued balance at September 30, 2020 ​ $ 35 ​
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 ​ ​ 29 Payments and other adjustments ​ ​ (24) Accrued balance at September 30, 2020 ​ $ 84

Incentive Stock Programs (Table

Incentive Stock Programs (Tables)	9 Months Ended
	Sep. 30, 2020
Incentive Stock Programs
Schedule of stock options outstanding and exercisable	​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding Exercisable Number of shares 29,352,400 ​ 20,764,950 Weighted average remaining life ( years 6.2 ​ 5.2 Weighted average exercise price $ 55.34 ​ $ 45.92 Aggregate intrinsic value ( in millions $ 1,570 ​ $ 1,306

Financial Instruments, Deriva_2

Financial Instruments, Derivatives and Fair Value Measures (Tables)	9 Months Ended
	Sep. 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 ​ ​ Sept. 30, ​ Dec. 31, ​ ​ ​ Sept. 30, ​ Dec. 31, ​ (in millions) 2020 2019 Balance Sheet Caption 2020 2019 Balance Sheet Caption Interest rate swaps designated as fair value hedges ​ $ 232 $ 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 ​ 89 ​ 110 Prepaid expenses and other receivables ​ 241 ​ 56 Other accrued liabilities Others not designated as hedges ​ 37 ​ 38 Prepaid expenses and other receivables ​ 62 ​ 33 Other accrued liabilities Debt designated as a hedge of net investment in a foreign subsidiary ​ ​ — ​ ​ — ​ n/a ​ ​ 566 ​ ​ 546 ​ Long-term debt ​ ​ $ 358 $ 196 ​ ​ $ 869 $ 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 ​ Nine Months ​ Three Months ​ Nine Months ​ ​ ​ ​ Ended Sept. 30 ​ Ended Sept. 30 ​ Ended Sept. 30 ​ Ended Sept. 30 ​ ​ (in millions) 2020 2019 ​ 2020 2019 2020 2019 ​ 2020 2019 Income Statement Caption Foreign currency forward exchange contracts designated as cash flow hedges ​ $ 103 ​ $ 99 ​ $ (35) ​ $ 78 ​ $ 48 ​ $ 26 ​ $ 90 ​ $ 58 ​ Cost of products sold Debt designated as a hedge of net investment in a foreign subsidiary ​ (10) ​ — ​ (20) ​ — ​ — ​ — ​ — ​ — n/a Interest rate swaps designated as fair value hedges ​ n/a ​ n/a ​ n/a ​ n/a ​ (11) ​ 35 ​ 184 ​ 174 Interest expense
Schedule of carrying values and fair values of certain financial instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ December 31, 2019 ​ ​ Carrying Fair Carrying Fair ​ (in millions) ​ Value ​ Value ​ Value ​ Value Long-term Investment Securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity securities ​ $ 755 ​ $ 755 ​ $ 836 ​ $ 836 ​ Other ​ 48 ​ 48 ​ 47 ​ 47 ​ Total Long-term Debt ​ ​ (18,355) ​ ​ (22,224) ​ ​ (17,938) ​ ​ (20,772) ​ Foreign Currency Forward Exchange Contracts: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivable position ​ 126 ​ 126 ​ 148 ​ 148 ​ (Payable) position ​ ​ (303) ​ ​ (303) ​ ​ (89) ​ ​ (89) ​ Interest Rate Hedge Contracts: ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivable position ​ ​ 232 ​ ​ 232 ​ ​ 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 September 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity securities ​ $ 351 ​ $ 351 $ — $ — Interest rate swap derivative financial instruments ​ 232 ​ — ​ 232 ​ — Foreign currency forward exchange contracts ​ 126 ​ — ​ 126 ​ — Total Assets ​ $ 709 $ 351 $ 358 $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value of hedged long-term debt ​ $ 3,070 ​ $ — $ 3,070 $ — Foreign currency forward exchange contracts ​ ​ 303 ​ ​ — ​ ​ 303 ​ ​ — Contingent consideration related to business combinations ​ 68 ​ — ​ — ​ 68 Total Liabilities ​ $ 3,441 $ — $ 3,373 ​ $ 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)	9 Months Ended
	Sep. 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 ​ Nine Months ​ Three Months ​ Nine Months ​ ​ Ended September 30 ​ Ended September 30 ​ Ended September 30 ​ Ended September 30 (in millions) 2020 2019 2020 2019 2020 2019 2020 2019 Service cost — benefits earned during the period ​ $ 85 ​ $ 63 ​ $ 251 ​ $ 188 ​ $ 12 ​ $ 5 ​ $ 35 ​ $ 17 Interest cost on projected benefit obligations ​ 75 ​ 84 ​ 224 ​ 253 ​ 11 ​ 13 ​ 32 ​ 39 Expected return on plan assets ​ (193) ​ (177) ​ (576) ​ (533) ​ (7) ​ (6) ​ (21) ​ (20) Net amortization of: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Actuarial loss, net ​ ​ 64 ​ ​ 33 ​ ​ 191 ​ ​ 99 ​ ​ 5 ​ ​ 6 ​ ​ 15 ​ ​ 17 Prior service cost (credit) ​ ​ — ​ ​ — ​ ​ 1 ​ ​ 1 ​ ​ (7) ​ ​ (8) ​ ​ (21) ​ ​ (24) Net cost - continuing operations ​ $ 31 ​ $ 3 ​ $ 91 ​ $ 8 ​ $ 14 ​ $ 10 ​ $ 40 ​ $ 29 ​

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2020
Segment Information
Schedule of segment information - net sales and operating earnings	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Sales to External Customers ​ Operating Earnings ​ ​ Three Months ​ Nine Months ​ Three Months ​ Nine Months ​ ​ Ended September 30 ​ Ended September 30 ​ Ended September 30 ​ Ended September 30 (in millions) 2020 2019 2020 2019 2020 2019 2020 2019 Established Pharmaceutical Products ​ $ 1,099 ​ $ 1,212 ​ $ 3,156 ​ $ 3,312 ​ $ 201 ​ $ 281 ​ $ 588 ​ $ 654 Nutritional Products ​ 1,924 ​ 1,874 ​ 5,711 ​ 5,541 ​ 394 ​ 414 ​ 1,327 ​ 1,241 Diagnostic Products ​ 2,640 ​ 1,909 ​ 6,460 ​ 5,655 ​ 875 ​ 456 ​ 1,802 ​ 1,356 Medical Devices ​ 3,170 ​ 3,065 ​ 8,530 ​ 9,035 ​ 928 ​ 958 ​ 2,122 ​ 2,722 Total Reportable Segments ​ 8,833 ​ 8,060 ​ 23,857 ​ 23,543 ​ 2,398 ​ 2,109 ​ 5,839 ​ ​ 5,973 Other ​ 20 ​ 16 ​ 50 ​ 47 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net sales ​ $ 8,853 ​ $ 8,076 ​ $ 23,907 ​ $ 23,590 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate functions and benefit plan costs ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (129) ​ ​ (131) ​ ​ (367) ​ ​ (332) Net interest expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (127) ​ ​ (143) ​ ​ (373) ​ ​ (437) Share-based compensation (a) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (100) ​ ​ (94) ​ ​ (448) ​ ​ (434) Amortization of intangible assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (510) ​ ​ (484) ​ ​ (1,624) ​ ​ (1,453) Other, net (b) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (111) ​ ​ (154) ​ ​ (447) ​ ​ (480) Earnings from continuing operations before taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 1,421 ​ $ 1,103 ​ $ 2,580 ​ $ 2,837 (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 nine months ended September 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 nine months ended September 30, 2020 also includes costs related to asset impairments, partially offset by income from the settlement of litigation. Other, net for the nine months ended September 30, 2019 includes charges associated with R&D assets acquired and immediately expensed.

Revenue (Details)

Revenue (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020USD ($)segment	Sep. 30, 2019USD ($)segment	Sep. 30, 2020USD ($)segment	Sep. 30, 2019USD ($)segment
Revenue
Number of reportable segments | segment	4	4	4	4
Net sales	$ 8,853	$ 8,076	$ 23,907	$ 23,590
U.S.
Revenue
Net sales	3,329	2,834	8,823	8,438
Int'l
Revenue
Net sales	5,524	5,242	15,084	15,152
Established Pharmaceutical Products
Revenue
Net sales	1,099	1,212	3,156	3,312
Established Pharmaceutical Products | Int'l
Revenue
Net sales	1,099	1,212	3,156	3,312
Nutritional Products
Revenue
Net sales	1,924	1,874	5,711	5,541
Nutritional Products | U.S.
Revenue
Net sales	818	788	2,438	2,321
Nutritional Products | Int'l
Revenue
Net sales	1,106	1,086	3,273	3,220
Diagnostic Products
Revenue
Net sales	2,640	1,909	6,460	5,655
Diagnostic Products | U.S.
Revenue
Net sales	1,133	702	2,793	2,121
Diagnostic Products | Int'l
Revenue
Net sales	1,507	1,207	3,667	3,534
Medical Devices
Revenue
Net sales	3,170	3,065	8,530	9,035
Medical Devices | U.S.
Revenue
Net sales	1,363	1,335	3,562	3,970
Medical Devices | Int'l
Revenue
Net sales	1,807	1,730	4,968	5,065
Other
Revenue
Net sales	20	16	50	47
Other | U.S.
Revenue
Net sales	15	9	30	26
Other | Int'l
Revenue
Net sales	5	7	20	21
Key Emerging Markets | Established Pharmaceutical Products
Revenue
Net sales	799	891	2,376	2,496
Key Emerging Markets | Established Pharmaceutical Products | Int'l
Revenue
Net sales	799	891	2,376	2,496
Other | Established Pharmaceutical Products
Revenue
Net sales	300	321	780	816
Other | Established Pharmaceutical Products | Int'l
Revenue
Net sales	300	321	780	816
Pediatric Nutritionals | Nutritional Products
Revenue
Net sales	1,006	1,044	3,119	3,124
Pediatric Nutritionals | Nutritional Products | U.S.
Revenue
Net sales	488	478	1,490	1,406
Pediatric Nutritionals | Nutritional Products | Int'l
Revenue
Net sales	518	566	1,629	1,718
Adult Nutritionals | Nutritional Products
Revenue
Net sales	918	830	2,592	2,417
Adult Nutritionals | Nutritional Products | U.S.
Revenue
Net sales	330	310	948	915
Adult Nutritionals | Nutritional Products | Int'l
Revenue
Net sales	588	520	1,644	1,502
Core Laboratory | Diagnostic Products
Revenue
Net sales	1,176	1,177	3,152	3,407
Core Laboratory | Diagnostic Products | U.S.
Revenue
Net sales	284	272	840	793
Core Laboratory | Diagnostic Products | Int'l
Revenue
Net sales	892	905	2,312	2,614
Molecular | Diagnostic Products
Revenue
Net sales	458	111	956	326
Molecular | Diagnostic Products | U.S.
Revenue
Net sales	220	35	429	113
Molecular | Diagnostic Products | Int'l
Revenue
Net sales	238	76	527	213
Point of Care | Diagnostic Products
Revenue
Net sales	131	144	387	424
Point of Care | Diagnostic Products | U.S.
Revenue
Net sales	96	112	278	334
Point of Care | Diagnostic Products | Int'l
Revenue
Net sales	35	32	109	90
Rapid Diagnostics | Diagnostic Products
Revenue
Net sales	875	477	1,965	1,498
Rapid Diagnostics | Diagnostic Products | U.S.
Revenue
Net sales	533	283	1,246	881
Rapid Diagnostics | Diagnostic Products | Int'l
Revenue
Net sales	342	194	719	617
Rhythm Management | Medical Devices
Revenue
Net sales	507	538	1,382	1,600
Rhythm Management | Medical Devices | U.S.
Revenue
Net sales	242	265	655	790
Rhythm Management | Medical Devices | Int'l
Revenue
Net sales	265	273	727	810
Electrophysiology | Medical Devices
Revenue
Net sales	441	427	1,128	1,262
Electrophysiology | Medical Devices | U.S.
Revenue
Net sales	192	185	476	549
Electrophysiology | Medical Devices | Int'l
Revenue
Net sales	249	242	652	713
Heart Failure | Medical Devices
Revenue
Net sales	190	186	551	571
Heart Failure | Medical Devices | U.S.
Revenue
Net sales	144	136	411	428
Heart Failure | Medical Devices | Int'l
Revenue
Net sales	46	50	140	143
Vascular | Medical Devices
Revenue
Net sales	630	697	1,736	2,136
Vascular | Medical Devices | U.S.
Revenue
Net sales	230	251	628	787
Vascular | Medical Devices | Int'l
Revenue
Net sales	400	446	1,108	1,349
Structural Heart | Medical Devices
Revenue
Net sales	353	348	894	1,024
Structural Heart | Medical Devices | U.S.
Revenue
Net sales	159	158	386	446
Structural Heart | Medical Devices | Int'l
Revenue
Net sales	194	190	508	578
Neuromodulation | Medical Devices
Revenue
Net sales	206	204	489	609
Neuromodulation | Medical Devices | U.S.
Revenue
Net sales	170	165	392	485
Neuromodulation | Medical Devices | Int'l
Revenue
Net sales	36	39	97	124
Diabetes Care | Medical Devices
Revenue
Net sales	843	665	2,350	1,833
Diabetes Care | Medical Devices | U.S.
Revenue
Net sales	226	175	614	485
Diabetes Care | Medical Devices | Int'l
Revenue
Net sales	$ 617	$ 490	$ 1,736	$ 1,348

Revenue - Remaining Performance

Revenue - Remaining Performance Obligations (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)
Diagnostic Products
Remaining Performance Obligations
Remaining performance obligations	$ 3,600
Medical Devices
Remaining Performance Obligations
Remaining performance obligations	$ 430
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-01
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]: 2022-10-01
Remaining Performance Obligations
Expected timing of satisfication period (in months)	12 months
Percentage of remaining performance obligation expected to be recognized in period	18.00%

Revenue - Practical Expedient (

Revenue - Practical Expedient (Details)	9 Months Ended
	Sep. 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	9 Months Ended
	Sep. 30, 2020USD ($)
Contract Liabilities
Balance at December 31, 2019	$ 294
Unearned revenue from cash received during the period	350
Revenue recognized related to contract liability balance	(293)
Balance at September 30, 2020	$ 351

Supplemental Financial Inform_3

Supplemental Financial Information - Income Statement (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Supplemental Financial Information
Earnings from continuing operations allocated to common shares	$ 1,226	$ 954	$ 2,302	$ 2,622
Net earnings allocated to common shares	$ 1,226	$ 954	$ 2,322	$ 2,622

Supplemental Financial Inform_4

Supplemental Financial Information - Cash Flows (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flow disclosures
Payment of cash taxes	$ 700	$ 775
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	$ 350	$ 337

Supplemental Financial Inform_5

Supplemental Financial Information - Allowance for Doubtful Accounts (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)
Allowances for Doubtful Accounts and Product Returns
Balance at December 31, 2019	$ 228
Provisions/charges to income	63
Amounts charged off and other deductions	(14)
Balance at September 30, 2020	284
Impact of adoption of new accounting standard | ASU 2016-13
Allowances for Doubtful Accounts and Product Returns
Balance at December 31, 2019	$ 7

Supplemental Financial Inform_6

Supplemental Financial Information - Investments (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended	12 Months Ended
	Jun. 30, 2020	Sep. 30, 2020	Dec. 31, 2018	Dec. 31, 2019
Investments
Long-term Investments		$ 803		$ 883
Equity method investments carrying value		292
Equity investment without readily determinable fair value		112
Impairment of investments	$ 60	110
Additional investments		30
Unrealized gain			$ 50
Equity securities
Investments
Long-term Investments		755		836
Other
Investments
Long-term Investments		48		$ 47
St Jude Medical | Equity securities
Investments
Securities in mutual funds held in a rabbi trust		$ 336

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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 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)	$ 36	$ (398)	(579)	$ (177)
End of the period	31,386		31,386
Cumulative Foreign Currency Translation Adjustments
Changes in accumulated other comprehensive income (loss), net of income taxes
Beginning of the period	(5,713)	(4,699)	(4,924)	(4,912)
Other comprehensive income (loss) before reclassifications	112	(478)	(677)	(265)
Net current period comprehensive income (loss)	112	(478)	(677)	(265)
End of the period	(5,601)	(5,177)	(5,601)	(5,177)
Net Actuarial (Losses) and Prior Service (Costs) and Credits
Changes in accumulated other comprehensive income (loss), net of income taxes
Beginning of the period	(3,446)	(2,677)	(3,540)	(2,726)
Other comprehensive income (loss) before reclassifications	(21)	7	(23)	9
Amounts reclassified from accumulated other comprehensive income	49	24	145	71
Net current period comprehensive income (loss)	28	31	122	80
End of the period	(3,418)	(2,646)	(3,418)	(2,646)
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	79	11	(1)	52
Other comprehensive income (loss) before reclassifications	(74)	67	35	48
Amounts reclassified from accumulated other comprehensive income	(30)	(18)	(59)	(40)
Net current period comprehensive income (loss)	(104)	49	(24)	8
End of the period	$ (25)	$ 60	$ (25)	$ 60

Goodwill and Intangible Assets

Goodwill and Intangible Assets - Goodwill (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Goodwill and Intangible Assets
Goodwill	$ 23,338	$ 23,195
Increase in goodwill due to foreign currency translation adjustments	144
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	$ 16,400

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Dec. 31, 2019
Goodwill and Intangible Assets
Gross amount of amortizable intangible assets	$ 27,500	$ 27,500	$ 27,600
Accumulated amortization of intangible assets	13,500	13,500	11,900
Decrease in intangible assets due to foreign currency translation adjustments		(69)
Estimated annual amortization expense, intangible assets, 2020	2,100	2,100
Estimated annual amortization expense, intangible assets, 2021	2,000	2,000
Estimated annual amortization expense, intangible assets, 2022	2,000	2,000
Estimated annual amortization expense, intangible assets, 2023	2,000	2,000
Estimated annual amortization expense, intangible assets, 2024	1,900	1,900
Indefinite-lived intangible assets related to in-process R&D acquired in a business combination	1,200	1,200	$ 1,300
Medical Devices
Goodwill and Intangible Assets
Impairment of amortizable intangible assets	$ 148	$ 148

Restructuring Plans (Details)

Restructuring Plans (Details) $ in Millions	9 Months Ended
	Sep. 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	13
Payments and other adjustments	(24)
Accrued balance at September 30, 2020	35
Restructuring Plan in 2017 to 2020, St Jude and Alere Integrations | Cost of products sold
Restructuring costs
Restructuring charges in 2020	6
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	29
Payments and other adjustments	(24)
Accrued balance at September 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	$ 27

Incentive Stock Programs - Gene

Incentive Stock Programs - General (Details)	9 Months Ended
	Sep. 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)	5,183,375

Incentive Stock Programs - Opti

Incentive Stock Programs - Options (Details) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)$ / sharesshares
Incentive Stock Program
Total unrecognized compensation cost	$ 499
Total unrecognized compensation cost, recognition period	3 years
Stock options
Incentive Stock Program
Stock options outstanding, number of shares | shares	29,352,400
Exercisable options, number of shares | shares	20,764,950
Stock options outstanding, weighted-average remaining life	6 years 2 months 12 days
Exercisable options, weighted-average remaining life	5 years 2 months 12 days
Stock options outstanding, weighted-average exercise price (in dollars per share) | $ / shares	$ 55.34
Exercisable options, weighted-average exercise price (in dollars per share) | $ / shares	$ 45.92
Aggregate intrinsic value of options outstanding	$ 1,570
Aggregate intrinsic value of options exercisable	$ 1,306

Debt and Lines of Credit (Detai

Debt and Lines of Credit (Details) € in Millions, $ in Millions	Sep. 28, 2020EUR (€)	Sep. 28, 2020USD ($)	Feb. 24, 2019USD ($)	Jun. 24, 2020USD ($)
0.00% Notes due 2020
Debt and Lines of Credit
Repayments of debt	€ 1,140	$ 1,300
Interest rate percentage	0.00%	0.00%
Senior Notes
Debt and Lines of Credit
Debt issued - principal amount				$ 1,300
1.150% Notes due 2028
Debt and Lines of Credit
Interest rate percentage				1.15%
Debt issued - principal amount				$ 650
1.400% Notes due 2030
Debt and Lines of Credit
Interest rate percentage				1.40%
Debt issued - principal amount				$ 650
2.80% Notes, due 2020
Debt and Lines of Credit
Repayments of debt			$ 500
Interest rate percentage			2.80%

Financial Instruments, Deriva_3

Financial Instruments, Derivatives and Fair Value Measures - Contracts (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 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	$ 566	$ 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	$ 7,900	$ 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	$ 8,900	$ 9,100

Financial Instruments, Deriva_4

Financial Instruments, Derivatives and Fair Value Measures - Location of Derivative Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Derivative instruments, notional amount and fair value
Fair Value - Assets	$ 358	$ 196
Fair Value - Liabilities	869	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	232	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	89	110
Designated as hedging instrument | Foreign currency forward exchange contracts | Other accrued liabilities
Derivative instruments, notional amount and fair value
Fair Value - Liabilities	241	56
Designated as hedging instrument | Debt | Long-term Debt | Net investment hedges
Derivative instruments, notional amount and fair value
Fair Value - Liabilities	566	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	37	38
Not designated as hedging instrument | Foreign currency forward exchange contracts | Other accrued liabilities
Derivative instruments, notional amount and fair value
Fair Value - Liabilities	$ 62	$ 33

Financial Instruments, Deriva_5

Financial Instruments, Derivatives and Fair Value Measures - Gain or Loss (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Not designated as hedging instrument
Gain (loss) on derivatives
Income (expense) and Gains (loss) Reclassified into Income	$ (100)	$ 49	$ (198)	$ 124
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)	103	99	(35)	78
Income (expense) and Gains (loss) Reclassified into Income	48	26	90	58
Debt | Net investment hedges | Designated as hedging instrument
Gain (loss) on derivatives
Gain (loss) Recognized in Other Comprehensive Income (loss)	(10)		(20)
Interest rate swaps | Fair value hedges | Designated as hedging instrument | Interest expense
Gain (loss) on derivatives
Income (expense) and Gains (loss) Reclassified into Income	$ (11)	$ 35	$ 184	$ 174

Financial Instruments, Deriva_6

Financial Instruments, Derivatives and Fair Value Measures - Carrying Value and Fair Value (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Fair value, asset and liability measures
Long-term Investments	$ 803	$ 883
Equity securities
Fair value, asset and liability measures
Long-term Investments	755	836
Carrying Value
Fair value, asset and liability measures
Total Long-Term Debt	(18,355)	(17,938)
Foreign currency forward exchange contracts, receivable position	126	148
Foreign currency forward exchange contracts, (payable) position	(303)	(89)
Interest rate hedge contracts, receivable position	232	48
Carrying Value | Equity securities
Fair value, asset and liability measures
Long-term Investments	755	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	(22,224)	(20,772)
Foreign currency forward exchange contracts, receivable position	126	148
Foreign currency forward exchange contracts, (payable) position	(303)	(89)
Interest rate hedge contracts, receivable position	232	48
Fair Value | Equity securities
Fair value, asset and liability measures
Long-term Investments	755	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	Sep. 30, 2020	Dec. 31, 2019
Fair value, asset and liability measures
Equity securities	$ 351	$ 357
Interest rate swap derivative financial instruments, assets	232	48
Foreign currency forward exchange contracts	126	148
Total Assets	709	553
Fair value of hedged long-term debt	3,070	2,890
Foreign currency forward exchange contracts	303	89
Contingent consideration related to business combinations	68	68
Total Liabilities	3,441	3,047
Quoted Prices in Active Markets
Fair value, asset and liability measures
Equity securities	351	357
Total Assets	351	357
Significant Other Observable Inputs
Fair value, asset and liability measures
Interest rate swap derivative financial instruments, assets	232	48
Foreign currency forward exchange contracts	126	148
Total Assets	358	196
Fair value of hedged long-term debt	3,070	2,890
Foreign currency forward exchange contracts	303	89
Total Liabilities	3,373	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	Sep. 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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Defined Benefit Plans
Defined benefit plan net periodic benefit cost
Service cost - benefits earned during the period	$ 85	$ 63	$ 251	$ 188
Interest cost on projected benefit obligations	75	84	224	253
Expected return on plans assets	(193)	(177)	(576)	(533)
Net amortization of:
Actuarial loss, net	64	33	191	99
Prior service cost (credit)			1	1
Net cost - continuing operations	31	3	91	8
Post-employment Obligations and Other Long-term Liabilities:
Company contributions			350	337
Medical and Dental Plans
Defined benefit plan net periodic benefit cost
Service cost - benefits earned during the period	12	5	35	17
Interest cost on projected benefit obligations	11	13	32	39
Expected return on plans assets	(7)	(6)	(21)	(20)
Net amortization of:
Actuarial loss, net	5	6	15	17
Prior service cost (credit)	(7)	(8)	(21)	(24)
Net cost - continuing operations	$ 14	$ 10	40	29
Post-employment Obligations and Other Long-term Liabilities:
Company contributions			$ 11	$ 11

Taxes on Earnings (Details)

Taxes on Earnings (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 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	87	$ 95
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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Information
Net Sales to External Customers	$ 8,853	$ 8,076	$ 23,907	$ 23,590
Operating Earnings	1,495	1,198	2,925	3,143
Amortization of intangible assets	(510)	(484)	(1,624)	(1,453)
Earnings from continuing operations before taxes	$ 1,421	$ 1,103	$ 2,580	$ 2,837
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	$ 1,099	$ 1,212	$ 3,156	$ 3,312
Nutritional Products
Segment Information
Net Sales to External Customers	1,924	1,874	5,711	5,541
Diagnostic Products
Segment Information
Net Sales to External Customers	2,640	1,909	6,460	5,655
Medical Devices
Segment Information
Net Sales to External Customers	3,170	3,065	8,530	9,035
Other
Segment Information
Net Sales to External Customers	20	16	50	47
Total Reportable Segments
Segment Information
Net Sales to External Customers	8,833	8,060	23,857	23,543
Operating Earnings	2,398	2,109	5,839	5,973
Total Reportable Segments | Established Pharmaceutical Products
Segment Information
Net Sales to External Customers	1,099	1,212	3,156	3,312
Operating Earnings	201	281	588	654
Total Reportable Segments | Nutritional Products
Segment Information
Net Sales to External Customers	1,924	1,874	5,711	5,541
Operating Earnings	394	414	1,327	1,241
Total Reportable Segments | Diagnostic Products
Segment Information
Net Sales to External Customers	2,640	1,909	6,460	5,655
Operating Earnings	875	456	1,802	1,356
Total Reportable Segments | Medical Devices
Segment Information
Net Sales to External Customers	3,170	3,065	8,530	9,035
Operating Earnings	928	958	2,122	2,722
Reconciling items
Segment Information
Corporate functions and benefit plan costs	(129)	(131)	(367)	(332)
Net interest expense	(127)	(143)	(373)	(437)
Share-based compensation	(100)	(94)	(448)	(434)
Amortization of intangible assets	(510)	(484)	(1,624)	(1,453)
Other, net	$ (111)	$ (154)	$ (447)	$ (480)