Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended |
Jun. 30, 2014 | |
Document and Entity Information | ' |
Document Type | '10-Q |
Amendment Flag | 'false |
Document Period End Date | 30-Jun-14 |
Document Fiscal Year Focus | '2014 |
Document Fiscal Period Focus | 'Q2 |
Trading Symbol | 'SYK |
Entity Registrant Name | 'STRYKER CORP |
Entity Central Index Key | '0000310764 |
Current Fiscal Year End Date | '--12-31 |
Entity Filer Category | 'Large Accelerated Filer |
Entity Common Stock, Shares Outstanding | 378,582,992 |
Consolidated_Statements_Of_Ear
Consolidated Statements Of Earnings (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Net sales | $2,363 | $2,212 | $4,668 | $4,402 |
Cost of sales | 808 | 730 | 1,577 | 1,443 |
Gross profit | 1,555 | 1,482 | 3,091 | 2,959 |
Research, development and engineering expenses | 158 | 132 | 308 | 261 |
Selling, general and administrative expenses | 1,148 | 1,015 | 2,353 | 1,931 |
Intangible asset amortization | 47 | 36 | 92 | 68 |
Restructuring charges | 5 | 9 | 10 | 23 |
Total operating expenses | 1,358 | 1,192 | 2,763 | 2,283 |
Operating income | 197 | 290 | 328 | 676 |
Other income (expense), net | -30 | -21 | -54 | -32 |
Earnings before income taxes | 167 | 269 | 274 | 644 |
Income taxes | 39 | 56 | 76 | 127 |
Net earnings | $128 | $213 | $198 | $517 |
Net earnings per share of common stock: | ' | ' | ' | ' |
Basic net earnings per share of common stock | $0.34 | $0.56 | $0.52 | $1.36 |
Diluted net earnings per share of common stock | $0.33 | $0.56 | $0.51 | $1.35 |
Weighted-average shares outstanding—in millions: | ' | ' | ' | ' |
Basic | 378.8 | 378 | 378.5 | 378.8 |
Net effect of dilutive employee stock options | 3.9 | 3 | 4.2 | 3.2 |
Diluted | 382.7 | 381 | 382.7 | 382 |
Anti-dilutive shares excluded from the calculation of net effect of dilutive employee stock options | 0 | 2.1 | 2.5 | 2.2 |
Consolidated_Statement_of_Comp
Consolidated Statement of Comprehensive Income (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Net earnings | $128 | $213 | $198 | $517 |
Marketable Securities | 4 | -5 | 7 | -6 |
Pension Plans | 1 | -1 | 0 | 2 |
Hedges | -9 | 0 | -12 | 0 |
Financial Statement Translation | -33 | 20 | 4 | -94 |
Total other comprehensive income (loss) | -37 | 14 | -1 | -98 |
Comprehensive income | $91 | $227 | $197 | $419 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Current assets | ' | ' |
Cash and cash equivalents | $1,319 | $1,339 |
Marketable securities | 3,426 | 2,641 |
Accounts receivable, less allowance of $68 ($72 in 2013) | 1,503 | 1,518 |
Inventories | ' | ' |
Materials and supplies | 254 | 227 |
Work in process | 104 | 85 |
Finished goods | 1,229 | 1,110 |
Total inventories | 1,587 | 1,422 |
Deferred income taxes | 941 | 880 |
Prepaid expenses and other current assets | 605 | 535 |
Total current assets | 9,381 | 8,335 |
Property, plant and equipment | ' | ' |
Land, buildings and improvements | 693 | 686 |
Machinery and equipment | 1,933 | 1,811 |
Total property, plant and equipment | 2,626 | 2,497 |
Less allowance for depreciation | 1,499 | 1,416 |
Net property, plant and equipment | 1,127 | 1,081 |
Other assets | ' | ' |
Goodwill | 4,101 | 3,844 |
Other intangibles, net | 2,090 | 1,989 |
Other | 530 | 494 |
Total assets | 17,229 | 15,743 |
Current liabilities | ' | ' |
Accounts payable | 337 | 314 |
Accrued compensation | 399 | 535 |
Income taxes | 97 | 131 |
Dividend payable | 116 | 115 |
Accrued recall expenses | 1,354 | 772 |
Accrued expenses and other liabilities | 780 | 765 |
Current maturities of debt | 630 | 25 |
Total current liabilities | 3,713 | 2,657 |
Long-term debt, excluding current maturities | 3,237 | 2,739 |
Other liabilities | 1,277 | 1,300 |
Shareholders' equity | ' | ' |
Common stock, $0.10 par value: | 38 | 38 |
Additional paid-in capital | 1,208 | 1,160 |
Retained earnings | 7,525 | 7,617 |
Accumulated other comprehensive income | 231 | 232 |
Total shareholders' equity | 9,002 | 9,047 |
Total liabilities & shareholders' equity | $17,229 | $15,743 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parentheticals) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Millions, except Share data, unless otherwise specified | ||
Accounts receivable, allowance | $68 | $72 |
Common stock, par value | $0.10 | $0.10 |
Common stock, authorized | 1,000 | 1,000 |
Common stock, outstanding | 378 | 378 |
Consolidated_Statement_Of_Shar
Consolidated Statement Of Shareholders' Equity (USD $) | Total | Common Stock | Additional Paid-In Capital | Retained Earnings | Accumulated Other Comprehensive Income |
In Millions | |||||
Balances at December 31, 2013 at Dec. 31, 2013 | $9,047 | $38 | $1,160 | $7,617 | $232 |
Net earnings | 198 | ' | ' | 198 | ' |
Other comprehensive income (loss) | -1 | ' | ' | ' | -1 |
Issuance of 1.6 million shares of common stock under stock option and benefit plans, including $5 excess income tax benefit | 9 | ' | 9 | ' | ' |
Repurchase and retirement of 0.8 million shares of common stock | 61 | ' | -2 | 59 | ' |
Share-based compensation | 41 | ' | 41 | ' | ' |
Cash dividends declared of $0.61 per share of common stock | -231 | ' | ' | -231 | ' |
Balances at June 30, 2014 at Jun. 30, 2014 | $9,002 | $38 | $1,208 | $7,525 | $231 |
Consolidated_Statement_Of_Shar1
Consolidated Statement Of Shareholders' Equity (Parenthetical) (USD $) | 6 Months Ended | 12 Months Ended |
In Millions, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 |
Issuance of common stock under stock option and benefit plans, shares | 1.4 | 2.1 |
Issuance of common stock under stock option and benefit plans, excess income tax benefit | $5 | $6 |
Repurchase and retirement of common stock, shares | 0.8 | 0 |
Cash dividends declared, per share of common stock | $0.61 | $1.10 |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Operating activities | ' | ' | ' | ' |
Net earnings | $128 | $213 | $198 | $517 |
Adjustments to reconcile net earnings to net cash provided by operating activities: | ' | ' | ' | ' |
Depreciation | 47 | 43 | 93 | 81 |
Amortization of intangible assets | 47 | 36 | 92 | 68 |
Share-based compensation | 20 | 18 | 41 | 38 |
Restructuring charges | 5 | 10 | 10 | 24 |
Sale of inventory stepped up to fair value at acquisition | 9 | 8 | 14 | 8 |
Recall accruals | 252 | 187 | 582 | 227 |
Changes in operating assets and liabilities, net of effects of acquisitions: | ' | ' | ' | ' |
Accounts receivable | -40 | -18 | 53 | -11 |
Inventories | -59 | -25 | -120 | -63 |
Accounts payable | -19 | -21 | 11 | -30 |
Accrued expenses and other liabilities | 57 | 82 | -142 | -70 |
Income taxes | -81 | -141 | -137 | -150 |
Other | ' | -36 | -123 | -47 |
Net cash provided by operating activities | 366 | 356 | 572 | 592 |
Investing activities | ' | ' | ' | ' |
Acquisitions, net of cash acquired | -185 | -62 | -457 | -662 |
Purchases of marketable securities | -1,580 | -1,843 | -2,597 | -2,616 |
Proceeds from sales of marketable securities | 804 | 754 | 1,812 | 1,816 |
Purchases of property, plant and equipment | -54 | -47 | -124 | -96 |
Net cash used in investing activities | -1,015 | -1,198 | -1,366 | -1,558 |
Financing activities | ' | ' | ' | ' |
Proceeds from borrowings | 1,469 | 102 | 1,813 | 1,162 |
Payments on borrowings | -665 | -100 | -720 | -151 |
Dividends paid | -116 | -100 | -231 | -201 |
Repurchase and retirement of common stock | -60 | ' | -60 | -250 |
Other | -40 | 5 | -28 | -2 |
Net cash provided by (used in) financing activities | 588 | -93 | 774 | 558 |
Effect of exchange rate changes on cash and cash equivalents | -1 | -7 | 0 | -16 |
Change in cash and cash equivalents | ($62) | ($942) | ($20) | ($424) |
Basis_Of_Presentation
Basis Of Presentation | 6 Months Ended |
Jun. 30, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | ' |
BASIS OF PRESENTATION | |
General Information | |
These statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2013. Management believes that the accompanying unaudited Consolidated Financial Statements include all adjustments, including normal recurring items, considered necessary for a fair presentation of the interim periods. However, the results of operations included in such financial statements may not necessarily be indicative of annual results. Certain prior year amounts in our Segment Information in Note 11 have been reclassified to conform with the presentation used in 2014. | |
Recently Issued Accounting Pronouncements | |
No new accounting pronouncement issued or effective during the year had or is expected to have a material impact on the Consolidated Financial Statements. |
Subsequent_Event_Notes
Subsequent Event (Notes) | 6 Months Ended |
Jun. 30, 2014 | |
Subsequent Event [Line Items] | ' |
Subsequent Events [Text Block] | ' |
SUBSEQUENT EVENT | |
Subsequent to the announcement of our second quarter 2014 operating results on July 17, 2014, we have updated our preliminary estimate of the probable loss to resolve the Rejuvenate and ABG II recall matter based on all information received to date which resulted in a $110 increase to the actuarially determined range of probable loss to resolve the matter to approximately $1,400 to $2,090 before third-party recoveries. Our results for the three months ended June 30, 2014 now include charges to earnings totaling $270, representing the excess of the $1,400 minimum of the range over the previously recorded reserves. |
Reclassification_Adjustments_O
Reclassification Adjustments Out of Accumulated Other Comprehensive Income (AOCI) (Notes) | 6 Months Ended | |||||||||||||||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||||||||||||||
Reclassification Adjustments Out of Accumulated Other Comprehensive Income [Abstract] | ' | |||||||||||||||||||||||||||||||||||||||
Comprehensive Income (Loss) Note [Text Block] | ' | |||||||||||||||||||||||||||||||||||||||
ACCUMULATED OTHER COMPREHENSIVE INCOME (AOCI) | ||||||||||||||||||||||||||||||||||||||||
Changes in and reclassifications out of AOCI in 2014 were as follows: | ||||||||||||||||||||||||||||||||||||||||
Marketable Securities | Pension Plans | Hedges | Financial Statement Translation | Total | ||||||||||||||||||||||||||||||||||||
Three Months | Six Months | Three Months | Six Months | Three Months | Six Months | Three Months | Six Months | Three Months | Six Months | |||||||||||||||||||||||||||||||
Beginning balance | $ | 3 | $ | — | $ | (82 | ) | $ | (81 | ) | $ | 4 | $ | 7 | $ | 343 | $ | 306 | $ | 268 | $ | 232 | ||||||||||||||||||
Other comprehensive income (OCI) | 7 | 11 | — | (3 | ) | (12 | ) | (16 | ) | (33 | ) | 4 | (38 | ) | (4 | ) | ||||||||||||||||||||||||
Income tax expense on OCI | (1 | ) | (1 | ) | — | — | 5 | 7 | — | — | 4 | 6 | ||||||||||||||||||||||||||||
Reclassifications out of AOCI into: | ||||||||||||||||||||||||||||||||||||||||
Cost of sales | — | — | 2 | 4 | — | — | — | — | 2 | 4 | ||||||||||||||||||||||||||||||
Other (income) expense | (2 | ) | (4 | ) | — | — | (3 | ) | (5 | ) | — | — | (5 | ) | (9 | ) | ||||||||||||||||||||||||
Income tax expense (benefit) | — | 1 | (1 | ) | (1 | ) | 1 | 2 | — | — | — | 2 | ||||||||||||||||||||||||||||
Total other comprehensive income | 4 | 7 | 1 | — | (9 | ) | (12 | ) | (33 | ) | 4 | (37 | ) | (1 | ) | |||||||||||||||||||||||||
Balance at June 30 | $ | 7 | $ | 7 | $ | (81 | ) | $ | (81 | ) | $ | (5 | ) | $ | (5 | ) | $ | 310 | $ | 310 | $ | 231 | $ | 231 | ||||||||||||||||
Fair_Value_Measurements_Fair_V
Fair Value Measurements Fair Value Measurements (Notes) | 6 Months Ended | ||||||||||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||||||||||||
Fair Value Disclosures [Text Block] | ' | ||||||||||||||||||||||||||||||||||
FAIR VALUE MEASUREMENTS | |||||||||||||||||||||||||||||||||||
Our valuation of our assets and liabilities measured at fair value is: | |||||||||||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||||||
June | 31-Dec | June | 31-Dec | June | 31-Dec | June | 31-Dec | ||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 1,319 | $ | 1,339 | $ | 1,319 | $ | 1,339 | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||
Available-for-sale marketable securities | |||||||||||||||||||||||||||||||||||
Corporate and asset-backed debt securities | 1,529 | 1,177 | — | — | 1,529 | 1,177 | — | — | |||||||||||||||||||||||||||
Foreign government debt securities | 898 | 845 | — | — | 898 | 845 | — | — | |||||||||||||||||||||||||||
United States agency debt securities | 402 | 211 | — | — | 402 | 211 | — | — | |||||||||||||||||||||||||||
United States treasury debt securities | 491 | 350 | — | — | 491 | 350 | — | — | |||||||||||||||||||||||||||
Certificates of deposit | 101 | 53 | — | — | 101 | 53 | — | — | |||||||||||||||||||||||||||
Other | 5 | 5 | — | — | 5 | 5 | — | — | |||||||||||||||||||||||||||
Total available-for-sale marketable securities | 3,426 | 2,641 | — | — | 3,426 | 2,641 | — | — | |||||||||||||||||||||||||||
Trading marketable securities | 77 | 72 | 77 | 72 | — | — | — | — | |||||||||||||||||||||||||||
Foreign currency exchange forward contracts | 13 | 25 | — | — | 13 | 25 | — | — | |||||||||||||||||||||||||||
$ | 4,835 | $ | 4,077 | $ | 1,396 | $ | 1,411 | $ | 3,439 | $ | 2,666 | $ | — | $ | — | ||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||||||||||||
Deferred compensation arrangements | $ | 77 | $ | 72 | $ | 77 | $ | 72 | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||
Contingent consideration | |||||||||||||||||||||||||||||||||||
Beginning Balance | 59 | 103 | |||||||||||||||||||||||||||||||||
Losses included in earnings | — | (5 | ) | ||||||||||||||||||||||||||||||||
Settlements | (14 | ) | (39 | ) | |||||||||||||||||||||||||||||||
Balance at the end of the period | 45 | 59 | — | — | — | — | 45 | 59 | |||||||||||||||||||||||||||
Foreign currency exchange forward contracts | 13 | 2 | — | — | 13 | 2 | — | — | |||||||||||||||||||||||||||
$ | 135 | $ | 133 | $ | 77 | $ | 72 | $ | 13 | $ | 2 | $ | 45 | $ | 59 | ||||||||||||||||||||
We calculate the fair value of our Level 1 and Level 2 instruments based on the exchange traded price of similar or identical instruments, where available, or based on other observable inputs taking into account our credit risk and that of our counterparties. The fair value of our Level 3 liabilities represent milestone payments for acquisitions and is calculated as the net present value of expected cash flows (using a discounted cash flow technique) based on externally provided or obtained inputs, including our probability assessments of the occurrence of triggering events, appropriately discounted considering the uncertainties associated with the obligation. We remeasure this liability each reporting period and record the changes in the fair value in general and administrative expense (for probability of occurrence) and other income (expense) (for changes in time value of money) in earnings. During the period we evaluated but did not change our unobservable input assumptions and fair value techniques used in measuring the fair value of any financial assets or liabilities from those disclosed in our Annual Report on Form 10-K for the year ended December 31, 2013. There were no significant transfers into or out of any levels that occurred between December 31, 2013 and June 30, 2014. | |||||||||||||||||||||||||||||||||||
Summary of marketable securities: | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Estimated Fair Value | |||||||||||||||||||||||||||||||
June | December | June | December | June | December | June | December | ||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||
Available-for-sale marketable securities: | |||||||||||||||||||||||||||||||||||
Corporate and asset-backed debt securities | $ | 1,526 | $ | 1,177 | $ | 3 | $ | 1 | $ | — | $ | (1 | ) | $ | 1,529 | $ | 1,177 | ||||||||||||||||||
Foreign government debt securities | 894 | 846 | 4 | — | — | (1 | ) | 898 | 845 | ||||||||||||||||||||||||||
United States agency debt securities | 402 | 211 | — | — | — | — | 402 | 211 | |||||||||||||||||||||||||||
United States treasury debt securities | 490 | 350 | 1 | — | — | — | 491 | 350 | |||||||||||||||||||||||||||
Certificates of deposit | 101 | 53 | — | — | — | — | 101 | 53 | |||||||||||||||||||||||||||
Other | 5 | 5 | — | — | — | — | 5 | 5 | |||||||||||||||||||||||||||
Total available-for-sale marketable securities | $ | 3,418 | $ | 2,642 | $ | 8 | $ | 1 | $ | — | $ | (2 | ) | 3,426 | 2,641 | ||||||||||||||||||||
Trading marketable securities | 77 | 72 | |||||||||||||||||||||||||||||||||
Total marketable securities | $ | 3,503 | $ | 2,713 | |||||||||||||||||||||||||||||||
Reported as: | |||||||||||||||||||||||||||||||||||
Current assets-marketable securities | $ | 3,426 | $ | 2,641 | |||||||||||||||||||||||||||||||
Noncurrent assets-other | 77 | 72 | |||||||||||||||||||||||||||||||||
$ | 3,503 | $ | 2,713 | ||||||||||||||||||||||||||||||||
The unrealized losses on available-for-sale marketable securities at June 30, 2014 were primarily caused by increases in yields as a result of the rise in government benchmark rates. Less than 1% of our investments in available-for-sale securities had a credit quality rating of less than A2 (Moody's), A (Standard & Poors) and A (Fitch). We do not intend to sell the investments and it is not more likely than not that we will be required to sell the investments before recovery of their amortized cost basis, which may be maturity; accordingly, we do not consider these investments to be other-than-temporarily impaired at June 30, 2014. | |||||||||||||||||||||||||||||||||||
The cost and estimated fair value of available-for-sale marketable securities at June 30, 2014 by contractual maturity are: | |||||||||||||||||||||||||||||||||||
Cost | Estimated | ||||||||||||||||||||||||||||||||||
Fair Value | |||||||||||||||||||||||||||||||||||
Due in one year or less | $ | 500 | $ | 500 | |||||||||||||||||||||||||||||||
Due after one year through three years | 284 | 285 | |||||||||||||||||||||||||||||||||
Due after three years | 2,634 | 2,641 | |||||||||||||||||||||||||||||||||
$ | 3,418 | $ | 3,426 | ||||||||||||||||||||||||||||||||
The gross unrealized losses and fair value of our investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position at June 30, 2014 are: | |||||||||||||||||||||||||||||||||||
Corporate and Asset-Backed Debt Securities | Foreign Government Debt Securities | United States Agency Debt Securities | Other | Total | |||||||||||||||||||||||||||||||
Less Than 12 Months | Total | Less Than 12 Months | Total | Less Than 12 Months | Total | Less Than 12 Months | Total | Less Than 12 Months | Total | ||||||||||||||||||||||||||
Number of investments | 92 | 99 | 3 | 3 | 33 | 33 | 81 | 81 | 209 | 216 | |||||||||||||||||||||||||
Fair value | $ | 200 | $ | 203 | $ | 14 | $ | 14 | $ | 312 | $ | 312 | $ | 21 | $ | 21 | $ | 547 | $ | 550 | |||||||||||||||
Unrealized losses | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||
Upon the sale of a security classified as available-for-sale, the security’s specific unrealized gain (loss) is reclassified out of AOCI into earnings based on the specific identification method. Interest and marketable securities income was $5 and $6 for the three months ended June 30, 2014 and 2013, respectively, and $11 for both the six months ended June 30, 2014 and 2013 and is included in other income (expense). |
Derivative_Instruments_And_Hed
Derivative Instruments And Hedging Strategies Derivative Instruments and Hedging Strategies (Notes) | 6 Months Ended | |||||||||||||||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||||||||||||||
Derivative [Line Items] | ' | |||||||||||||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Text Block] | ' | |||||||||||||||||||||||||||||||||||||||
NOTE 5 - DERIVATIVE INSTRUMENTS AND HEDGING STRATEGIES | ||||||||||||||||||||||||||||||||||||||||
We use operational and economic hedges as well as foreign currency exchange forward contracts to manage the impact of currency exchange on earnings and cash flow. During the period we did not change our hedging strategies or objectives from those disclosed in our Annual Report on Form 10-K for the year ended December 31, 2013. The gross notional and gross fair value amounts of foreign exchange forward contract derivatives designated and non-designated as hedging instruments are: | ||||||||||||||||||||||||||||||||||||||||
30-Jun-14 | 31-Dec-13 | |||||||||||||||||||||||||||||||||||||||
Fair Value | Fair Value | |||||||||||||||||||||||||||||||||||||||
Gross Notional | Other Current Assets | Other Assets – Noncurrent | Other Current Liabilities | Other Liabilities – Noncurrent | Gross Notional | Other Current Assets | Other Assets – Noncurrent | Other Current Liabilities | Other Liabilities – Noncurrent | |||||||||||||||||||||||||||||||
Designated | $ | 420 | $ | 1 | $ | — | $ | 7 | $ | 1 | $ | 344 | $ | 11 | $ | 1 | $ | 1 | $ | — | ||||||||||||||||||||
Non-designated | 2,353 | 12 | — | 4 | 1 | 2,000 | 10 | 3 | 1 | — | ||||||||||||||||||||||||||||||
$ | 2,773 | $ | 13 | $ | — | $ | 11 | $ | 2 | $ | 2,344 | $ | 21 | $ | 4 | $ | 2 | $ | — | |||||||||||||||||||||
We are exposed to credit loss in the event of nonperformance by counterparties on our outstanding forward currency exchange contracts but do not anticipate nonperformance by any of our counterparties. Should a counterparty default, our maximum exposure to loss is the asset balance of the instrument. The maximum term of the forward currency exchange contracts at June 30, 2014 and December 31, 2013 was 546 days for each period. | ||||||||||||||||||||||||||||||||||||||||
The net currency exchange rate gains (losses) for the three months ended June 30, 2014 was $0 comprised of gains of $3 recorded in cost of goods sold and losses of ($3) recorded in other income (expense). The net currency exchange rate gains (losses) for the six months ended June 30, 2014 was ($4) comprised of gains of $5 recorded in cost of goods sold and losses of ($9) recorded in other income (expense). The net currency exchange rate losses for both the three and six months ended June 30, 2013 were ($3) and ($4), respectively. These total gains (losses) represent the net impact for both designated and non-designated derivative instruments. | ||||||||||||||||||||||||||||||||||||||||
At June 30, 2014 and December 31, 2013, pretax gains on derivatives designated as hedges of $6 and $12, which are recorded in AOCI, are expected to be reclassified to earnings during the next twelve months. This reclassification is primarily due to the sale of inventory that includes previously hedged purchases. There have been no ineffective portions of derivatives that have resulted in gains or losses in any period. |
Contingencies
Contingencies | 6 Months Ended |
Jun. 30, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Contingencies | ' |
We are involved in various ongoing proceedings, legal actions and claims arising in the normal course of business, including proceedings related to product, labor, intellectual property, and other matters. The outcomes of these matters will generally not be known for prolonged periods of time. In certain of the legal proceedings, the claimants seek damages, as well as other compensatory and equitable relief, that could result in the payment of significant claims and settlements and/or the imposition of injunctions or other equitable relief. For legal matters for which management has sufficient information to reasonably estimate our future obligations, a liability representing management's best estimate of the probable loss, or the minimum of the range of probable losses when a best estimate within the range is not known, for the resolution of these legal matters is recorded. The estimates are based on consultation with legal counsel, previous settlement experience and settlement strategies. If actual outcomes are less favorable than those projected by management, additional expense may be incurred, which could unfavorably affect future operating results. We are currently self-insured for product liability-related claims and expenses. The ultimate cost to us with respect to product liability claims could be materially different than the amount of the current estimates and accruals and could have a material adverse effect on our financial position, results of operations and cash flows. | |
In 2010 we received a subpoena from the United States Department of Justice (DOJ) related to the sales and marketing of the OtisKnee device. The subpoena concerns allegations of violations of federal laws related to sales of a device not cleared by the United States Food and Drug Administration (FDA). We continue to discuss the settlement of this matter with the DOJ, but there can be no assurance that we will reach a consensual resolution rather than seeking a resolution through the courts. We have recorded charges totaling $80 related to this matter. | |
In June 2012 we voluntarily recalled our Rejuvenate and ABG II modular-neck hip stems and terminated global distribution of these hip products. We notified healthcare professionals and regulatory bodies of this recall, which was taken due to potential risks associated with fretting and/or corrosion that may lead to adverse local tissue reactions. Product liability lawsuits relating to this voluntary recall have been filed against us. As previously announced, we intend to reimburse implanted patients for reasonable and customary costs of testing and treatment services, including any necessary revision surgeries. We continue to work with the medical community to evaluate the data and further understand this matter. The ultimate total cost with respect to this matter will depend on many factors that are difficult to predict and may vary materially based on the number of and actual costs of patients seeking testing and treatment services, the number of and actual costs of patients requiring revision surgeries, the number of and actual costs to settle lawsuits filed against us, and the amount of third-party insurance recoveries. Based on the information that has been received, the actuarially determined range of probable loss to resolve this matter is estimated to be approximately $1,400 to $2,090 before third-party insurance recoveries. In the three months ended June 30, 2014, we recorded charges to earnings of $270 representing the excess of the $1,400 minimum of the range over the previously recorded reserves. No contingent gain for third-party insurance recoveries was recorded as of June 30, 2014. As noted above, the final outcome of this matter is dependent on many variables that are difficult to predict. The ultimate cost to entirely resolve this matter may be materially different than the amount of the current estimate and accruals and could have a material adverse effect on our financial position, results of operations and cash flows. | |
In 2010 we filed a lawsuit in federal court against Zimmer Holdings, Inc. (Zimmer), alleging that a Zimmer product infringed three of our patents. In rulings issued in August and September 2013, the trial judge upheld the February 2013 jury verdict in our favor, issued a permanent injunction barring Zimmer from making or selling infringing products, and ordered Zimmer to pay us at least $228. Zimmer is appealing this ruling and the ultimate resolution of this matter may differ materially. Accordingly, we have not recorded a contingent gain related to this matter. | |
For each of the following legal matters the final outcome is dependent on many variables and cannot be predicted. Accordingly, it is not possible at this time for us to estimate any material loss or range of losses. However, the ultimate cost to resolve these matters could have a material adverse effect on our financial position, results of operations and cash flows. | |
In April 2011 lawsuits brought by Hill-Rom Company, Inc. and affiliated entities (Hill-Rom) against us were filed in the United States District Court for the Western District of Wisconsin and the United States District Court for the Southern District of Indiana. The Wisconsin lawsuit was subsequently transferred to the United States District Court in Indiana. The suits allege infringement under United States patent laws with respect to certain patient handling equipment we manufactured and sold and seek damages and permanent injunctions. We have entered into an agreement settling the first lawsuit, with terms as previously disclosed. The second lawsuit involves nine patents related to electrical network communications for hospital beds. The case has been stayed with respect to six of the patents that are currently under reexamination by the United States Patent Office. With respect to the three remaining patents, all of which have now expired, the Court of Appeals for the Federal Circuit reversed the trial court's grant of summary judgment in our favor and remanded the matter to the trial court for further proceedings. The ultimate resolution of the entire second suit may have no relation to the resolution of the first suit and cannot be predicted; however, the result could have a material adverse effect on our financial position, results of operations and cash flows. | |
In 2010 we received a subpoena from the DOJ related to sales and marketing and regulatory matters related to the Stryker PainPump. We have received requests for certain documents in connection with this investigation. The investigation is ongoing and we are fully cooperating with the DOJ regarding this matter. |
Acquisitions
Acquisitions | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||||||
Acquisitions | ' | ||||||||||||||||
ACQUISITIONS | |||||||||||||||||
In June 2014 we announced our intention to acquire the assets of Small Bone Innovations, Inc. (SBi) in an all cash transaction for up to $375. The net cost to Stryker after taking into account the present value of the tax benefits as a result of the asset purchase structure will be up to $285. SBi products are designed and promoted for upper and lower extremity small bone indications, with a focus on small joint replacement. The transaction is subject to customary closing conditions including the expiration or termination of the Hart-Scott-Rodino Antitrust Improvements Act waiting period and is expected to close in the third quarter of 2014. The acquisition of SBi is expected to enhance our product offerings within our Reconstructive segment. | |||||||||||||||||
In April 2014 we completed the acquisition of Berchtold Holding, AG (Berchtold) for an aggregate purchase price of approximately $172, net of cash acquired. Berchtold, a privately held business with operating facilities in Germany and the United States, sells surgical infrastructure equipment including surgical tables, equipment booms and surgical lighting systems. The acquisition of Berchtold is expected to enhance our product offerings within our MedSurg segment. Intangible assets acquired with Berchtold will be amortized over a weighted-average life of 8 years. | |||||||||||||||||
In March 2014 we completed our acquisition of Patient Safety Technologies, Inc. (PST) for an aggregate purchase price of $120. PST conducts its business through its wholly owned subsidiary, SurgiCount Medical, Inc. PST’s proprietary Safety-Sponge® System and SurgiCount 360™ compliance software help prevent Retained Foreign Objects in the operating room. The acquisition of PST is expected to enhance our product offerings within our MedSurg segment. Intangible assets acquired with PST will be amortized over a weighted-average life of 14 years. | |||||||||||||||||
The acquired net assets of other business acquisitions completed in 2014, including the previously announced acquisition of Pivot Medical, Inc. are in the "Other" column in the table below. | |||||||||||||||||
In December 2013 we acquired MAKO Surgical Corp. (MAKO) for an aggregate purchase price of $1,679. The acquisition of MAKO, combined with our strong history in joint reconstruction, capital equipment (operating room integration and surgical navigation) and surgical instruments, will help further advance the growth of robotic arm assisted surgery. Our combined expertise offers the potential to simplify joint reconstruction procedures, reduce variability and enhance the surgeon and patient experience. The acquisition of MAKO enhances our product offerings within our Reconstructive segment. Intangible assets acquired with MAKO will be amortized over a weighted-average life of 9 years, except for the trade name that is deemed to have an indefinite life. In-process research and development (IPRD) is considered to be an indefinite-lived intangible asset until such time as the research is completed (at which time it becomes a determinable-lived intangible asset) or determined to have no future use (at which time it is impaired). | |||||||||||||||||
The purchase price allocations for Berchtold, PST, MAKO and other smaller acquisitions are based upon preliminary valuations, and our estimates and assumptions are subject to change within the measurement period as the valuations are finalized. We are in the process of verifying data and finalizing information related to these acquisitions to finalize the recording of identifiable intangible assets, deferred income taxes and the corresponding effect on the value of goodwill. | |||||||||||||||||
The allocation of the purchase prices of each acquisition to the acquired net assets is as follows: | |||||||||||||||||
2014 | 2014 | 2014 | 2013 | ||||||||||||||
Berchtold | PST | Other | MAKO | ||||||||||||||
Purchase price paid | $ | 172 | $ | 120 | $ | 148 | $ | 1,679 | |||||||||
Tangible assets acquired: | |||||||||||||||||
Inventory | 22 | 7 | 5 | 50 | |||||||||||||
Other assets | 38 | 19 | 25 | 174 | |||||||||||||
Liabilities | (45 | ) | (33 | ) | (32 | ) | (277 | ) | |||||||||
Intangible assets: | |||||||||||||||||
Customer relationship | 11 | 33 | 4 | 91 | |||||||||||||
Trade name | 7 | — | — | 24 | |||||||||||||
Developed technology & patents | 32 | 26 | 70 | 231 | |||||||||||||
IPRD | — | — | 2 | 169 | |||||||||||||
Goodwill | 107 | 68 | 74 | 1,217 | |||||||||||||
$ | 172 | $ | 120 | $ | 148 | $ | 1,679 | ||||||||||
LongTerm_Debt_and_Credit_Facil
Long-Term Debt and Credit Facilities | 6 Months Ended | ||||||||||
Jun. 30, 2014 | |||||||||||
Long-term Debt, Unclassified [Abstract] | ' | ||||||||||
Long-Term Debt And Credit Facilities | ' | ||||||||||
LONG-TERM DEBT AND CREDIT FACILITIES | |||||||||||
Our debt is as follows: | |||||||||||
30-Jun | 31-Dec | ||||||||||
2014 | 2013 | ||||||||||
Senior unsecured notes: | |||||||||||
Rate | Due | ||||||||||
3.00% | 15-Jan-15 | $ | 500 | $ | 500 | ||||||
2.00% | 30-Sep-16 | 749 | 749 | ||||||||
1.30% | 1-Apr-18 | 598 | 598 | ||||||||
4.38% | 15-Jan-20 | 498 | 498 | ||||||||
3.38% | 15-May-24 | 595 | — | ||||||||
4.10% | 1-Apr-43 | 394 | 394 | ||||||||
4.38% | 15-May-44 | 398 | — | ||||||||
Commercial paper | 100 | — | |||||||||
Other | 35 | 25 | |||||||||
Total debt | 3,867 | 2,764 | |||||||||
Less current maturities | (630 | ) | (25 | ) | |||||||
Total long-term debt | $ | 3,237 | $ | 2,739 | |||||||
During 2014 we issued commercial paper under the commercial paper program we established in July 2011. The program allows us to have a maximum of $500 in commercial paper outstanding, with maturities up to 397 days from the date of issuance. As of June 30, 2014, outstanding commercial paper totaled $100, the weighted average original maturity of the commercial paper outstanding was approximately 79 days and the weighted average interest rate was 0.27%. | |||||||||||
In May 2014 we sold $600 in senior unsecured notes due 2024 (2024 Notes) and $400 of senior unsecured notes due 2044 (2044 Notes). The 2024 Notes will bear interest at 3.375% per year and, unless previously redeemed, will mature on May 15, 2024. The 2044 Notes will bear interest at 4.375% per year and, unless previously redeemed, will mature on May 15, 2044. | |||||||||||
Certain of our credit facilities require us to comply with financial and other covenants. We were in compliance with all covenants at June 30, 2014. We have lines of credit, issued by various financial institutions, available to fund our day-to-day operating needs. At June 30, 2014, we had $949 of borrowing capacity available under all of our existing credit facilities. The weighted average interest rate, excluding required fees, for all borrowings was 2.9% at June 30, 2014. | |||||||||||
At June 30, 2014, the total unamortized debt issuance costs incurred in connection with our outstanding notes were $23. The fair value of long-term debt (including current maturities) at June 30, 2014 and December 31, 2013 was $3,795 and $2,790, respectively, based on the quoted interest rates for similar types and amounts of borrowing agreements. |
Capital_Stock
Capital Stock | 6 Months Ended |
Jun. 30, 2014 | |
Capital Stock Disclosures [Abstract] | ' |
Capital Stock | ' |
CAPITAL STOCK | |
In April 2014 we declared a quarterly dividend of $0.305 per share, payable July 31, 2014 to shareholders of record at the close of business on June 30, 2014. In July 2014 we declared a quarterly dividend of $0.305 per share payable October 31, 2014 to shareholders of record at the close of business on September 30, 2014. | |
In December of 2012 and 2011, we announced that our Board of Directors had authorized us to purchase up to $405 and $500, respectively, of our common stock (the 2012 and 2011 Repurchase Programs, respectively). The manner, timing and amount of purchases is determined by management based on an evaluation of market conditions, stock price and other factors and is subject to regulatory considerations. Purchases are to be made from time to time in the open market, in privately negotiated transactions or otherwise. | |
During 2014 we have repurchased 0.8 million shares at a cost of $60 under the 2011 Repurchase Program. As of June 30, 2014, the maximum dollar value of shares that may yet be purchased under the 2011 Repurchase Program was $218 and we had not made any repurchases pursuant to the 2012 Repurchase Program. At June 30, 2014, the maximum dollar value of shares that may be purchased under the authorized Repurchase Programs was $623. |
Restructuring_Charges
Restructuring Charges | 6 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Restructuring Charges [Abstract] | ' | ||||||||||||
Restructuring Charges | ' | ||||||||||||
RESTRUCTURING CHARGES | |||||||||||||
In recent years, we have incurred an ongoing annual level of restructuring-type activities to maintain a competitive cost structure, including manufacturing and workforce optimization. The costs incurred under the ongoing program have generally ranged from $50 to $75 annually. The productivity and cost savings plan was designed to accelerate cost reductions by streamlining management decision making, manufacturing and other work processes to help fund our growth strategy. | |||||||||||||
A rollforward of our restructuring liability balance is as follows: | |||||||||||||
Total | Severance and Related Costs | Contractual Obligations and Other | |||||||||||
January 1 Balance | $ | 20 | $ | 10 | $ | 10 | |||||||
Charges to earnings | 10 | 4 | 6 | ||||||||||
Cash paid | (15 | ) | (8 | ) | (7 | ) | |||||||
June 30 Balance | $ | 15 | $ | 6 | $ | 9 | |||||||
Segment_Information
Segment Information | 6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Information | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
SEGMENT INFORMATION | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net sales and net earnings by business segment are as follows: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reconstructive | MedSurg | Neurotechnology and Spine | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months | Six Months | Three Months | Six Months | Three Months | Six Months | Three Months | Six Months | |||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||
Net sales | $ | 1,028 | $ | 966 | $ | 2,027 | $ | 1,922 | $ | 905 | $ | 832 | $ | 1,791 | $ | 1,669 | $ | 430 | $ | 414 | $ | 850 | $ | 811 | $ | 2,363 | $ | 2,212 | $ | 4,668 | $ | 4,402 | ||||||||||||||||||||||||
Segment net earnings | 228 | 231 | 477 | 465 | 151 | 161 | 296 | 322 | 79 | 73 | 165 | 151 | $ | 458 | $ | 465 | $ | 938 | $ | 938 | ||||||||||||||||||||||||||||||||||||
Less: other (net of income taxes) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | (43 | ) | (59 | ) | (119 | ) | (115 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition and integration related charges | (17 | ) | (15 | ) | (30 | ) | (32 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of intangible assets | (33 | ) | (26 | ) | (64 | ) | (49 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring and related charges | (20 | ) | (10 | ) | (30 | ) | (21 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||
Recall charges | (217 | ) | (120 | ) | (489 | ) | (152 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory matter charges | — | (22 | ) | — | (52 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Tax matters | — | — | (8 | ) | — | |||||||||||||||||||||||||||||||||||||||||||||||||||
Net earnings | $ | 128 | $ | 213 | $ | 198 | $ | 517 | ||||||||||||||||||||||||||||||||||||||||||||||||
Other than assets associated with the acquisitions that are discussed in greater detail in Note 7, there were no significant changes to total assets by segment from information provided in our Annual Report on Form 10-K for the year ended December 31, 2013. |
Reclassification_Adjustments_O1
Reclassification Adjustments Out of Accumulated Other Comprehensive Income (AOCI) (Tables) | 6 Months Ended | |||||||||||||||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | |||||||||||||||||||||||||||||||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | ' | |||||||||||||||||||||||||||||||||||||||
Marketable Securities | Pension Plans | Hedges | Financial Statement Translation | Total | ||||||||||||||||||||||||||||||||||||
Three Months | Six Months | Three Months | Six Months | Three Months | Six Months | Three Months | Six Months | Three Months | Six Months | |||||||||||||||||||||||||||||||
Beginning balance | $ | 3 | $ | — | $ | (82 | ) | $ | (81 | ) | $ | 4 | $ | 7 | $ | 343 | $ | 306 | $ | 268 | $ | 232 | ||||||||||||||||||
Other comprehensive income (OCI) | 7 | 11 | — | (3 | ) | (12 | ) | (16 | ) | (33 | ) | 4 | (38 | ) | (4 | ) | ||||||||||||||||||||||||
Income tax expense on OCI | (1 | ) | (1 | ) | — | — | 5 | 7 | — | — | 4 | 6 | ||||||||||||||||||||||||||||
Reclassifications out of AOCI into: | ||||||||||||||||||||||||||||||||||||||||
Cost of sales | — | — | 2 | 4 | — | — | — | — | 2 | 4 | ||||||||||||||||||||||||||||||
Other (income) expense | (2 | ) | (4 | ) | — | — | (3 | ) | (5 | ) | — | — | (5 | ) | (9 | ) | ||||||||||||||||||||||||
Income tax expense (benefit) | — | 1 | (1 | ) | (1 | ) | 1 | 2 | — | — | — | 2 | ||||||||||||||||||||||||||||
Total other comprehensive income | 4 | 7 | 1 | — | (9 | ) | (12 | ) | (33 | ) | 4 | (37 | ) | (1 | ) | |||||||||||||||||||||||||
Balance at June 30 | $ | 7 | $ | 7 | $ | (81 | ) | $ | (81 | ) | $ | (5 | ) | $ | (5 | ) | $ | 310 | $ | 310 | $ | 231 | $ | 231 | ||||||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 6 Months Ended | ||||||||||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||||||||||
Fair Value Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||||||
June | 31-Dec | June | 31-Dec | June | 31-Dec | June | 31-Dec | ||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 1,319 | $ | 1,339 | $ | 1,319 | $ | 1,339 | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||
Available-for-sale marketable securities | |||||||||||||||||||||||||||||||||||
Corporate and asset-backed debt securities | 1,529 | 1,177 | — | — | 1,529 | 1,177 | — | — | |||||||||||||||||||||||||||
Foreign government debt securities | 898 | 845 | — | — | 898 | 845 | — | — | |||||||||||||||||||||||||||
United States agency debt securities | 402 | 211 | — | — | 402 | 211 | — | — | |||||||||||||||||||||||||||
United States treasury debt securities | 491 | 350 | — | — | 491 | 350 | — | — | |||||||||||||||||||||||||||
Certificates of deposit | 101 | 53 | — | — | 101 | 53 | — | — | |||||||||||||||||||||||||||
Other | 5 | 5 | — | — | 5 | 5 | — | — | |||||||||||||||||||||||||||
Total available-for-sale marketable securities | 3,426 | 2,641 | — | — | 3,426 | 2,641 | — | — | |||||||||||||||||||||||||||
Trading marketable securities | 77 | 72 | 77 | 72 | — | — | — | — | |||||||||||||||||||||||||||
Foreign currency exchange forward contracts | 13 | 25 | — | — | 13 | 25 | — | — | |||||||||||||||||||||||||||
$ | 4,835 | $ | 4,077 | $ | 1,396 | $ | 1,411 | $ | 3,439 | $ | 2,666 | $ | — | $ | — | ||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||||||||||||
Deferred compensation arrangements | $ | 77 | $ | 72 | $ | 77 | $ | 72 | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||
Contingent consideration | |||||||||||||||||||||||||||||||||||
Beginning Balance | 59 | 103 | |||||||||||||||||||||||||||||||||
Losses included in earnings | — | (5 | ) | ||||||||||||||||||||||||||||||||
Settlements | (14 | ) | (39 | ) | |||||||||||||||||||||||||||||||
Balance at the end of the period | 45 | 59 | — | — | — | — | 45 | 59 | |||||||||||||||||||||||||||
Foreign currency exchange forward contracts | 13 | 2 | — | — | 13 | 2 | — | — | |||||||||||||||||||||||||||
$ | 135 | $ | 133 | $ | 77 | $ | 72 | $ | 13 | $ | 2 | $ | 45 | $ | 59 | ||||||||||||||||||||
Marketable Securities [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||
Summary of marketable securities: | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Estimated Fair Value | |||||||||||||||||||||||||||||||
June | December | June | December | June | December | June | December | ||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||
Available-for-sale marketable securities: | |||||||||||||||||||||||||||||||||||
Corporate and asset-backed debt securities | $ | 1,526 | $ | 1,177 | $ | 3 | $ | 1 | $ | — | $ | (1 | ) | $ | 1,529 | $ | 1,177 | ||||||||||||||||||
Foreign government debt securities | 894 | 846 | 4 | — | — | (1 | ) | 898 | 845 | ||||||||||||||||||||||||||
United States agency debt securities | 402 | 211 | — | — | — | — | 402 | 211 | |||||||||||||||||||||||||||
United States treasury debt securities | 490 | 350 | 1 | — | — | — | 491 | 350 | |||||||||||||||||||||||||||
Certificates of deposit | 101 | 53 | — | — | — | — | 101 | 53 | |||||||||||||||||||||||||||
Other | 5 | 5 | — | — | — | — | 5 | 5 | |||||||||||||||||||||||||||
Total available-for-sale marketable securities | $ | 3,418 | $ | 2,642 | $ | 8 | $ | 1 | $ | — | $ | (2 | ) | 3,426 | 2,641 | ||||||||||||||||||||
Trading marketable securities | 77 | 72 | |||||||||||||||||||||||||||||||||
Total marketable securities | $ | 3,503 | $ | 2,713 | |||||||||||||||||||||||||||||||
Reported as: | |||||||||||||||||||||||||||||||||||
Current assets-marketable securities | $ | 3,426 | $ | 2,641 | |||||||||||||||||||||||||||||||
Noncurrent assets-other | 77 | 72 | |||||||||||||||||||||||||||||||||
$ | 3,503 | $ | 2,713 | ||||||||||||||||||||||||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||
The cost and estimated fair value of available-for-sale marketable securities at June 30, 2014 by contractual maturity are: | |||||||||||||||||||||||||||||||||||
Cost | Estimated | ||||||||||||||||||||||||||||||||||
Fair Value | |||||||||||||||||||||||||||||||||||
Due in one year or less | $ | 500 | $ | 500 | |||||||||||||||||||||||||||||||
Due after one year through three years | 284 | 285 | |||||||||||||||||||||||||||||||||
Due after three years | 2,634 | 2,641 | |||||||||||||||||||||||||||||||||
$ | 3,418 | $ | 3,426 | ||||||||||||||||||||||||||||||||
Schedule of Unrealized Loss on Investments [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||
Corporate and Asset-Backed Debt Securities | Foreign Government Debt Securities | United States Agency Debt Securities | Other | Total | |||||||||||||||||||||||||||||||
Less Than 12 Months | Total | Less Than 12 Months | Total | Less Than 12 Months | Total | Less Than 12 Months | Total | Less Than 12 Months | Total | ||||||||||||||||||||||||||
Number of investments | 92 | 99 | 3 | 3 | 33 | 33 | 81 | 81 | 209 | 216 | |||||||||||||||||||||||||
Fair value | $ | 200 | $ | 203 | $ | 14 | $ | 14 | $ | 312 | $ | 312 | $ | 21 | $ | 21 | $ | 547 | $ | 550 | |||||||||||||||
Unrealized losses | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||
Recovered_Sheet1
Derivative Instruments and Hedging Strategies (Tables) | 6 Months Ended | |||||||||||||||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||||||||||||||||||||||||||||||||||||
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | ' | |||||||||||||||||||||||||||||||||||||||
30-Jun-14 | 31-Dec-13 | |||||||||||||||||||||||||||||||||||||||
Fair Value | Fair Value | |||||||||||||||||||||||||||||||||||||||
Gross Notional | Other Current Assets | Other Assets – Noncurrent | Other Current Liabilities | Other Liabilities – Noncurrent | Gross Notional | Other Current Assets | Other Assets – Noncurrent | Other Current Liabilities | Other Liabilities – Noncurrent | |||||||||||||||||||||||||||||||
Designated | $ | 420 | $ | 1 | $ | — | $ | 7 | $ | 1 | $ | 344 | $ | 11 | $ | 1 | $ | 1 | $ | — | ||||||||||||||||||||
Non-designated | 2,353 | 12 | — | 4 | 1 | 2,000 | 10 | 3 | 1 | — | ||||||||||||||||||||||||||||||
$ | 2,773 | $ | 13 | $ | — | $ | 11 | $ | 2 | $ | 2,344 | $ | 21 | $ | 4 | $ | 2 | $ | — | |||||||||||||||||||||
Acquisitions_Acquisitions_Tabl
Acquisitions Acquisitions (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||||||
Schedule of Purchase Price Allocation [Table Text Block] | ' | ||||||||||||||||
llows: | |||||||||||||||||
2014 | 2014 | 2014 | 2013 | ||||||||||||||
Berchtold | PST | Other | MAKO | ||||||||||||||
Purchase price paid | $ | 172 | $ | 120 | $ | 148 | $ | 1,679 | |||||||||
Tangible assets acquired: | |||||||||||||||||
Inventory | 22 | 7 | 5 | 50 | |||||||||||||
Other assets | 38 | 19 | 25 | 174 | |||||||||||||
Liabilities | (45 | ) | (33 | ) | (32 | ) | (277 | ) | |||||||||
Intangible assets: | |||||||||||||||||
Customer relationship | 11 | 33 | 4 | 91 | |||||||||||||
Trade name | 7 | — | — | 24 | |||||||||||||
Developed technology & patents | 32 | 26 | 70 | 231 | |||||||||||||
IPRD | — | — | 2 | 169 | |||||||||||||
Goodwill | 107 | 68 | 74 | 1,217 | |||||||||||||
$ | 172 | $ | 120 | $ | 148 | $ | 1,679 | ||||||||||
LongTerm_Debt_and_Credit_Facil1
Long-Term Debt and Credit Facilities (Tables) | 6 Months Ended | ||||||||||
Jun. 30, 2014 | |||||||||||
Long-term Debt, Unclassified [Abstract] | ' | ||||||||||
Maturities Of Long-Term Debt Disclosures | ' | ||||||||||
30-Jun | 31-Dec | ||||||||||
2014 | 2013 | ||||||||||
Senior unsecured notes: | |||||||||||
Rate | Due | ||||||||||
3.00% | 15-Jan-15 | $ | 500 | $ | 500 | ||||||
2.00% | 30-Sep-16 | 749 | 749 | ||||||||
1.30% | 1-Apr-18 | 598 | 598 | ||||||||
4.38% | 15-Jan-20 | 498 | 498 | ||||||||
3.38% | 15-May-24 | 595 | — | ||||||||
4.10% | 1-Apr-43 | 394 | 394 | ||||||||
4.38% | 15-May-44 | 398 | — | ||||||||
Commercial paper | 100 | — | |||||||||
Other | 35 | 25 | |||||||||
Total debt | 3,867 | 2,764 | |||||||||
Less current maturities | (630 | ) | (25 | ) | |||||||
Total long-term debt | $ | 3,237 | $ | 2,739 | |||||||
Restructuring_Charges_Tables
Restructuring Charges (Tables) | 6 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Restructuring Charges [Abstract] | ' | ||||||||||||
Restructuring Charges | ' | ||||||||||||
Total | Severance and Related Costs | Contractual Obligations and Other | |||||||||||
January 1 Balance | $ | 20 | $ | 10 | $ | 10 | |||||||
Charges to earnings | 10 | 4 | 6 | ||||||||||
Cash paid | (15 | ) | (8 | ) | (7 | ) | |||||||
June 30 Balance | $ | 15 | $ | 6 | $ | 9 | |||||||
Segment_Information_Tables
Segment Information (Tables) | 6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sales and Other Financial Information by Business Segment | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reconstructive | MedSurg | Neurotechnology and Spine | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months | Six Months | Three Months | Six Months | Three Months | Six Months | Three Months | Six Months | |||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||
Net sales | $ | 1,028 | $ | 966 | $ | 2,027 | $ | 1,922 | $ | 905 | $ | 832 | $ | 1,791 | $ | 1,669 | $ | 430 | $ | 414 | $ | 850 | $ | 811 | $ | 2,363 | $ | 2,212 | $ | 4,668 | $ | 4,402 | ||||||||||||||||||||||||
Segment net earnings | 228 | 231 | 477 | 465 | 151 | 161 | 296 | 322 | 79 | 73 | 165 | 151 | $ | 458 | $ | 465 | $ | 938 | $ | 938 | ||||||||||||||||||||||||||||||||||||
Less: other (net of income taxes) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | (43 | ) | (59 | ) | (119 | ) | (115 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition and integration related charges | (17 | ) | (15 | ) | (30 | ) | (32 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of intangible assets | (33 | ) | (26 | ) | (64 | ) | (49 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring and related charges | (20 | ) | (10 | ) | (30 | ) | (21 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||
Recall charges | (217 | ) | (120 | ) | (489 | ) | (152 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory matter charges | — | (22 | ) | — | (52 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Tax matters | — | — | (8 | ) | — | |||||||||||||||||||||||||||||||||||||||||||||||||||
Net earnings | $ | 128 | $ | 213 | $ | 198 | $ | 517 | ||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent_Event_Details
Subsequent Event (Details) (Rejuvenate and ABG II Voluntary Recall [Member], USD $) | Jul. 24, 2014 | Jun. 30, 2014 |
In Millions, unless otherwise specified | ||
Subsequent Event [Line Items] | ' | ' |
Estimated Litigation Liability | $110 | $270 |
Minimum | ' | ' |
Subsequent Event [Line Items] | ' | ' |
Loss Contingency, Estimate of Possible Loss | ' | 1,400 |
Maximum | ' | ' |
Subsequent Event [Line Items] | ' | ' |
Loss Contingency, Estimate of Possible Loss | ' | $2,090 |
Reclassification_Adjustments_O2
Reclassification Adjustments Out of Accumulated Other Comprehensive Income (AOCI) Reclassification Adjustments Out of Accumulated Other Comprehensive Income (AOCI) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax | $268 | ' | $232 | ' |
Other comprehensive income (OCI) | -38 | ' | -4 | ' |
Income taxes | 39 | 56 | 76 | 127 |
Other comprehensive income (loss) | -37 | 14 | -1 | -98 |
Net Income (Loss) Attributable to Parent | 128 | 213 | 198 | 517 |
Accumulated Other Comprehensive Income (Loss), Net of Tax | 231 | ' | 231 | ' |
Marketable Securities | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax | 3 | ' | ' | ' |
Other comprehensive income (OCI) | 7 | ' | 11 | ' |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Tax | -1 | ' | -1 | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax | 7 | ' | 7 | ' |
Pension Plans | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax | -82 | ' | -81 | ' |
Other comprehensive income (OCI) | 0 | ' | -3 | ' |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Tax | 0 | ' | 0 | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax | -81 | ' | -81 | ' |
Hedges | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax | 4 | ' | 7 | ' |
Other comprehensive income (OCI) | -12 | ' | -16 | ' |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax | 5 | ' | 7 | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax | -5 | ' | -5 | ' |
Financial Statement Translation | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax | 343 | ' | 306 | ' |
Other comprehensive income (OCI) | -33 | ' | 4 | ' |
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax | 0 | ' | 0 | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax | 310 | ' | 310 | ' |
Accumulated Other Comprehensive Income | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Tax | 4 | ' | 6 | ' |
Other comprehensive income (loss) | ' | ' | -1 | ' |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Income taxes | 0 | ' | 2 | ' |
Other comprehensive income (loss) | -37 | ' | -1 | ' |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Marketable Securities | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Income taxes | 0 | ' | 1 | ' |
Other comprehensive income (loss) | 4 | ' | 7 | ' |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Pension Plans | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Income taxes | -1 | ' | -1 | ' |
Other comprehensive income (loss) | 1 | ' | ' | ' |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Hedges | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Income taxes | 1 | ' | 2 | ' |
Other comprehensive income (loss) | -9 | ' | -12 | ' |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Financial Statement Translation | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Income taxes | 0 | ' | 0 | ' |
Other comprehensive income (loss) | -33 | ' | 4 | ' |
Cost of Sales [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 2 | ' | 4 | ' |
Cost of Sales [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Marketable Securities | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax | 0 | ' | 0 | ' |
Cost of Sales [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Pension Plans | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Gain (Loss), before Tax | 2 | ' | 4 | ' |
Cost of Sales [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Hedges | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax | 0 | ' | 0 | ' |
Cost of Sales [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Financial Statement Translation | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss), before Reclassification and Tax | 0 | ' | 0 | ' |
Other Income (expense) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | -5 | ' | -9 | ' |
Other Income (expense) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Marketable Securities | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | -2 | ' | -4 | ' |
Other Income (expense) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Pension Plans | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, Tax | 0 | ' | 0 | ' |
Other Income (expense) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Hedges | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax | -3 | ' | -5 | ' |
Other Income (expense) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Financial Statement Translation | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss), before Reclassification and Tax | $0 | ' | $0 | ' |
Fair_Value_Measurements_Narrat
Fair Value Measurements (Narrative) (Details) (USD $) | 3 Months Ended | 6 Months Ended | |
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2013 |
Interest Income (Expense), Net | ' | $3 | $2 |
Investment Income, Nonoperating | 5 | 11 | 6 |
Marketable Securities, Gain (Loss) | ' | $8 | $9 |
Asset-backed Securities [Member] | Standard & Poor's, A Rating [Member] | ' | ' | ' |
Percentage Of Company's Investments With Credit Quality Rating Less Than Single A And A2 | ' | 1.00% | ' |
Asset-backed Securities [Member] | Fitch, A Rating [Member] | ' | ' | ' |
Percentage Of Company's Investments With Credit Quality Rating Less Than Single A And A2 | ' | 1.00% | ' |
Asset-backed Securities [Member] | Moody's, A2 Rating [Member] | ' | ' | ' |
Percentage Of Company's Investments With Credit Quality Rating Less Than Single A And A2 | ' | 1.00% | ' |
Fair_Value_Measurements_Valuat
Fair Value Measurements (Valuation Of Financial Instruments By Pricing Categories) (Details) (USD $) | 6 Months Ended | 12 Months Ended | |
In Millions, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Investments, Fair Value Disclosure | $13 | $25 | ' |
Derivative Asset | 4,835 | 4,077 | ' |
Liabilities: | 77 | 72 | ' |
Business Combination, Contingent Consideration, Liability | 45 | 59 | ' |
Derivative Liability | 13 | 2 | ' |
Liabilities, Fair Value Disclosure, Recurring | 135 | 133 | ' |
Available-for-sale Securities [Member] | ' | ' | ' |
Investments, Fair Value Disclosure | 3,426 | 2,641 | ' |
Available-for-sale Securities [Member] | Corporate and asset-backed debt securities | ' | ' | ' |
Investments, Fair Value Disclosure | 1,529 | 1,177 | ' |
Available-for-sale Securities [Member] | Foreign Government Debt Securities [Member] | ' | ' | ' |
Investments, Fair Value Disclosure | 898 | 845 | ' |
Available-for-sale Securities [Member] | US Government Agencies Debt Securities [Member] | ' | ' | ' |
Investments, Fair Value Disclosure | 402 | 211 | ' |
Available-for-sale Securities [Member] | US Treasury Securities [Member] | ' | ' | ' |
Investments, Fair Value Disclosure | 491 | 350 | ' |
Available-for-sale Securities [Member] | Certificates of Deposit [Member] | ' | ' | ' |
Investments, Fair Value Disclosure | 101 | 53 | ' |
Available-for-sale Securities [Member] | Other Security Investments [Member] | ' | ' | ' |
Investments, Fair Value Disclosure | 5 | 5 | ' |
Trading Securities [Member] | ' | ' | ' |
Investments, Fair Value Disclosure | 77 | 72 | ' |
Fair Value, Inputs, Level 1 [Member] | ' | ' | ' |
Derivative Asset | 1,396 | 1,411 | ' |
Liabilities: | 77 | 72 | ' |
Liabilities, Fair Value Disclosure, Recurring | 77 | 72 | ' |
Fair Value, Inputs, Level 1 [Member] | Trading Securities [Member] | ' | ' | ' |
Investments, Fair Value Disclosure | 77 | 72 | ' |
Fair Value, Inputs, Level 2 [Member] | ' | ' | ' |
Investments, Fair Value Disclosure | 13 | 25 | ' |
Derivative Asset | 3,439 | 2,666 | ' |
Derivative Liability | 13 | 2 | ' |
Liabilities, Fair Value Disclosure, Recurring | 13 | 2 | ' |
Fair Value, Inputs, Level 2 [Member] | Available-for-sale Securities [Member] | ' | ' | ' |
Investments, Fair Value Disclosure | 3,426 | 2,641 | ' |
Fair Value, Inputs, Level 2 [Member] | Available-for-sale Securities [Member] | Corporate and asset-backed debt securities | ' | ' | ' |
Investments, Fair Value Disclosure | 1,529 | 1,177 | ' |
Fair Value, Inputs, Level 2 [Member] | Available-for-sale Securities [Member] | Foreign Government Debt Securities [Member] | ' | ' | ' |
Investments, Fair Value Disclosure | 898 | 845 | ' |
Fair Value, Inputs, Level 2 [Member] | Available-for-sale Securities [Member] | US Government Agencies Debt Securities [Member] | ' | ' | ' |
Investments, Fair Value Disclosure | 402 | 211 | ' |
Fair Value, Inputs, Level 2 [Member] | Available-for-sale Securities [Member] | US Treasury Securities [Member] | ' | ' | ' |
Investments, Fair Value Disclosure | 491 | 350 | ' |
Fair Value, Inputs, Level 2 [Member] | Available-for-sale Securities [Member] | Certificates of Deposit [Member] | ' | ' | ' |
Investments, Fair Value Disclosure | 101 | 53 | ' |
Fair Value, Inputs, Level 2 [Member] | Available-for-sale Securities [Member] | Other Security Investments [Member] | ' | ' | ' |
Investments, Fair Value Disclosure | 5 | 5 | ' |
Fair Value, Inputs, Level 3 [Member] | ' | ' | ' |
Business Combination, Contingent Consideration, Liability | 45 | 59 | 103 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset and Liability, Gain (Loss) Included in Earnings | ' | 5 | ' |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset and Liability, Settlements | 14 | 39 | ' |
Liabilities, Fair Value Disclosure, Recurring | $45 | $59 | ' |
Fair_Value_Measurements_Assets
Fair Value Measurements (Assets and Liabilities Measured At Fair Value On A Recurring Basis Using Unobservable Inputs (Level 3)) (Details) (USD $) | 6 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 |
Marketable Securities | $3,503 | $2,713 |
Available-for-sale Securities [Member] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 3,418 | 2,642 |
Available-for-sale Securities, Gross Unrealized Gain | 8 | 1 |
Available-for-sale Securities, Gross Unrealized Loss | ' | 2 |
Marketable Securities | 3,426 | 2,641 |
Available-for-sale Securities [Member] | Asset-backed Securities [Member] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 1,526 | 1,177 |
Available-for-sale Securities, Gross Unrealized Gain | 3 | 1 |
Available-for-sale Securities, Gross Unrealized Loss | ' | 1 |
Marketable Securities | 1,529 | 1,177 |
Available-for-sale Securities [Member] | Foreign Government Debt Securities [Member] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 894 | 846 |
Available-for-sale Securities, Gross Unrealized Gain | 4 | ' |
Available-for-sale Securities, Gross Unrealized Loss | ' | 1 |
Marketable Securities | 898 | 845 |
Available-for-sale Securities [Member] | US Government Agencies Debt Securities [Member] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 402 | 211 |
Marketable Securities | 402 | 211 |
Available-for-sale Securities [Member] | US Treasury Securities [Member] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 490 | 350 |
Available-for-sale Securities, Gross Unrealized Gain | 1 | ' |
Marketable Securities | 491 | 350 |
Available-for-sale Securities [Member] | Certificates of Deposit [Member] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 101 | 53 |
Marketable Securities | 101 | 53 |
Available-for-sale Securities [Member] | Other Security Investments [Member] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 5 | 5 |
Marketable Securities | 5 | 5 |
Trading Securities [Member] | ' | ' |
Marketable Securities | 77 | 72 |
Available-for-sale Securities [Member] | ' | ' |
Marketable Securities | 3,426 | 2,641 |
Other Assets [Member] | ' | ' |
Marketable Securities | $77 | $72 |
Fair_Value_Measurements_Market
Fair Value Measurements (Marketable Securities) (Details) (USD $) | 6 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 |
Marketable Securities | $3,503 | $2,713 |
Other Assets [Member] | ' | ' |
Marketable Securities | 77 | 72 |
Available-for-sale Securities [Member] | ' | ' |
Marketable Securities | 3,426 | 2,641 |
Available-for-sale Securities [Member] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 3,418 | 2,642 |
Available-for-sale Securities, Gross Unrealized Gain | 8 | 1 |
Available-for-sale Securities, Gross Unrealized Loss | ' | 2 |
Marketable Securities | 3,426 | 2,641 |
Available-for-sale Securities [Member] | Asset-backed Securities [Member] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 1,526 | 1,177 |
Available-for-sale Securities, Gross Unrealized Gain | 3 | 1 |
Available-for-sale Securities, Gross Unrealized Loss | ' | 1 |
Marketable Securities | 1,529 | 1,177 |
Available-for-sale Securities [Member] | Foreign Government Debt Securities [Member] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 894 | 846 |
Available-for-sale Securities, Gross Unrealized Gain | 4 | ' |
Available-for-sale Securities, Gross Unrealized Loss | ' | 1 |
Marketable Securities | 898 | 845 |
Available-for-sale Securities [Member] | US Government Agencies Debt Securities [Member] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 402 | 211 |
Marketable Securities | 402 | 211 |
Available-for-sale Securities [Member] | US Treasury Securities [Member] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 490 | 350 |
Available-for-sale Securities, Gross Unrealized Gain | 1 | ' |
Marketable Securities | 491 | 350 |
Available-for-sale Securities [Member] | Certificates of Deposit [Member] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 101 | 53 |
Marketable Securities | 101 | 53 |
Available-for-sale Securities [Member] | Other Security Investments [Member] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 5 | 5 |
Marketable Securities | 5 | 5 |
Trading Securities [Member] | ' | ' |
Marketable Securities | $77 | $72 |
Fair_Value_Measurements_Net_Ca
Fair Value Measurements (Net Carrying Value And Estimated Fair Value Of Available-For-Sale Marketable Securities) (Details) (USD $) | Jun. 30, 2014 |
In Millions, unless otherwise specified | |
Fair Value Disclosures [Abstract] | ' |
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Amortized Cost Basis | $500 |
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Fair Value | 500 |
Available for sale Securities, Debt Maturities, After One Through Three Years, Amortized Cost | 284 |
Available for sale Securities, Debt Maturities, After One Through Three Years, Fair Value | 285 |
Available for sale Securities, Debt Maturities, After Three Years, Amortized Cost | 2,634 |
Available for sale Securities, Debt Maturities, After Three Years, Fair Value | 2,641 |
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis | 3,418 |
Available-for-sale Securities, Debt Securities | $3,426 |
Fair_Value_Measurements_Unreal
Fair Value Measurements (Unrealized Losses And Fair Value Of Investments With Unrealized Losses) (Details) (USD $) | Jun. 30, 2014 |
In Millions, unless otherwise specified | |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | 209 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 216 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $547 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 550 |
Asset-backed Securities [Member] | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | 92 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 99 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 200 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 203 |
Foreign Government Debt Securities [Member] | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | 3 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 3 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 14 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 14 |
US Government Agencies Debt Securities [Member] | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | 33 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 33 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 312 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 312 |
Other Debt Obligations [Member] | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | 81 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 81 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 21 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | $21 |
Derivative_Instruments_and_Hed1
Derivative Instruments and Hedging Strategies (Narrative) (Details) (USD $) | 6 Months Ended | 12 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Foreign Exchange Contract [Member] | Foreign Exchange Contract [Member] | Foreign Exchange Contract [Member] | Foreign Exchange Contract [Member] | Foreign Exchange Contract [Member] | Foreign Exchange Contract [Member] | Foreign Exchange Contract [Member] | Foreign Exchange Contract [Member] | Foreign Exchange Contract [Member] | Foreign Exchange Contract [Member] | |||
Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Cost of Sales [Member] | Cost of Sales [Member] | Other Income [Member] | Other Income [Member] | Other Income [Member] | Other Income [Member] | |||||
Foreign currency transaction losses | ' | ' | $0 | $4 | ' | ' | ($3) | ($5) | ($3) | $3 | $9 | $4 |
Maximum Term (Days) | '546 days | '546 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | ' | ' | ' | ' | $6 | $12 | ' | ' | ' | ' | ' | ' |
Derivative_Instruments_and_Hed2
Derivative Instruments and Hedging Strategies (Forward Currency Exchange Contracts) (Details) (Foreign Exchange Contract [Member], USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Notional Amount | $2,773 | $2,344 |
Designated as Hedging Instrument [Member] | ' | ' |
Notional Amount | 420 | 344 |
Not Designated as Hedging Instrument [Member] | ' | ' |
Notional Amount | 2,353 | 2,000 |
Other Current Assets | ' | ' |
Derivative Asset, Fair Value, Gross Asset | 13 | 21 |
Other Current Assets | Designated as Hedging Instrument [Member] | ' | ' |
Derivative Asset, Fair Value, Gross Asset | 1 | 11 |
Other Current Assets | Not Designated as Hedging Instrument [Member] | ' | ' |
Derivative Asset, Fair Value, Gross Asset | 12 | 10 |
Other Assets b Noncurrent | ' | ' |
Derivative Asset, Fair Value, Gross Asset | 0 | 4 |
Other Assets b Noncurrent | Designated as Hedging Instrument [Member] | ' | ' |
Derivative Asset, Fair Value, Gross Asset | 0 | 1 |
Other Assets b Noncurrent | Not Designated as Hedging Instrument [Member] | ' | ' |
Derivative Asset, Fair Value, Gross Asset | 0 | 3 |
Other Current Liabilities | ' | ' |
Derivative Liability, Fair Value, Gross Liability | 11 | 2 |
Other Current Liabilities | Designated as Hedging Instrument [Member] | ' | ' |
Derivative Liability, Fair Value, Gross Liability | 7 | 1 |
Other Current Liabilities | Not Designated as Hedging Instrument [Member] | ' | ' |
Derivative Liability, Fair Value, Gross Liability | 4 | 1 |
Other Liabilities b Noncurrent | ' | ' |
Derivative Liability, Fair Value, Gross Liability | 2 | 0 |
Other Liabilities b Noncurrent | Designated as Hedging Instrument [Member] | ' | ' |
Derivative Liability, Fair Value, Gross Liability | 1 | 0 |
Other Liabilities b Noncurrent | Not Designated as Hedging Instrument [Member] | ' | ' |
Derivative Liability, Fair Value, Gross Liability | $1 | $0 |
Contingencies_Narrative_Detail
Contingencies (Narrative) (Details) (USD $) | Jun. 30, 2014 | Jul. 24, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | Rejuvenate and ABG II Voluntary Recall [Member] | Rejuvenate and ABG II Voluntary Recall [Member] | Electrical Network Communications, Hospital Beds [Member] | Patents Under Reexamination [Member] | Number of Remaining Patents [Member] | Minimum | Maximum | Zimmer Product Infringement [Member] | |
patent | patent | patent | Rejuvenate and ABG II Voluntary Recall [Member] | Rejuvenate and ABG II Voluntary Recall [Member] | |||||
Loss Contingency Accrual, at Carrying Value | $80 | ' | ' | ' | ' | ' | ' | ' | ' |
Loss Contingency, Estimate of Possible Loss | ' | ' | ' | ' | ' | ' | 1,400 | 2,090 | ' |
Loss Contingency, Damages Awarded, Value | ' | ' | ' | ' | ' | ' | ' | ' | '228 |
Estimated Litigation Liability | ' | $110 | $270 | ' | ' | ' | ' | ' | ' |
Loss Contingency, Number of Patents | ' | ' | ' | 9 | 6 | 3 | ' | ' | ' |
Acquisitions_Narrative_Details
Acquisitions (Narrative) (Details) (USD $) | 6 Months Ended |
In Millions, unless otherwise specified | Jun. 30, 2014 |
Small Bone Innovations [Member] | ' |
Business Acquisition [Line Items] | ' |
Purchase price paid | $375 |
Business Acquisition, Cost of Acquired Entity after tax benefits | 285 |
Berchtold | ' |
Business Acquisition [Line Items] | ' |
Purchase price paid | 172 |
Inventory | 22 |
Other assets | 38 |
Liabilities | -45 |
Goodwill | 107 |
PST | ' |
Business Acquisition [Line Items] | ' |
Purchase price paid | 120 |
Inventory | 7 |
Other assets | 19 |
Liabilities | 33 |
Goodwill | 68 |
Other | ' |
Business Acquisition [Line Items] | ' |
Purchase price paid | 148 |
Inventory | 5 |
Other assets | 25 |
Liabilities | 32 |
Goodwill | 74 |
MAKO | ' |
Business Acquisition [Line Items] | ' |
Purchase price paid | 1,679 |
Inventory | 50 |
Other assets | 174 |
Liabilities | 277 |
Goodwill | 1,217 |
Customer relationship | Berchtold | ' |
Business Acquisition [Line Items] | ' |
Tangible assets acquired: | '8 years |
Intangible assets: | 11 |
Customer relationship | PST | ' |
Business Acquisition [Line Items] | ' |
Tangible assets acquired: | '14 years |
Intangible assets: | 33 |
Customer relationship | Other | ' |
Business Acquisition [Line Items] | ' |
Intangible assets: | 4 |
Customer relationship | MAKO | ' |
Business Acquisition [Line Items] | ' |
Tangible assets acquired: | '9 years |
Intangible assets: | 91 |
Trade name | Berchtold | ' |
Business Acquisition [Line Items] | ' |
Intangible assets: | 7 |
Trade name | PST | ' |
Business Acquisition [Line Items] | ' |
Intangible assets: | 0 |
Trade name | Other | ' |
Business Acquisition [Line Items] | ' |
Intangible assets: | 0 |
Trade name | MAKO | ' |
Business Acquisition [Line Items] | ' |
Intangible assets: | 24 |
Developed technology & patents | Berchtold | ' |
Business Acquisition [Line Items] | ' |
Intangible assets: | 32 |
Developed technology & patents | PST | ' |
Business Acquisition [Line Items] | ' |
Intangible assets: | 26 |
Developed technology & patents | Other | ' |
Business Acquisition [Line Items] | ' |
Intangible assets: | 70 |
Developed technology & patents | MAKO | ' |
Business Acquisition [Line Items] | ' |
Intangible assets: | 231 |
IPRD | Berchtold | ' |
Business Acquisition [Line Items] | ' |
Intangible assets: | 0 |
IPRD | PST | ' |
Business Acquisition [Line Items] | ' |
Intangible assets: | 0 |
IPRD | Other | ' |
Business Acquisition [Line Items] | ' |
Intangible assets: | 2 |
IPRD | MAKO | ' |
Business Acquisition [Line Items] | ' |
Intangible assets: | $169 |
Acquisitions_Acquisitions_Allo
Acquisitions Acquisitions (Allocation Of The Preliminary Purchase Price To The Acquired Net Assets Of The Trauson Acquisition (Details) (USD $) | Jun. 30, 2014 |
In Millions, unless otherwise specified | |
Berchtold | ' |
Purchase price paid | $172 |
Inventory | 22 |
Other assets | 38 |
Liabilities | 45 |
Goodwill | 107 |
PST | ' |
Purchase price paid | 120 |
Inventory | 7 |
Other assets | 19 |
Liabilities | -33 |
Goodwill | 68 |
Other | ' |
Purchase price paid | 148 |
Inventory | 5 |
Other assets | 25 |
Liabilities | -32 |
Goodwill | 74 |
MAKO | ' |
Purchase price paid | 1,679 |
Inventory | 50 |
Other assets | 174 |
Liabilities | -277 |
Goodwill | 1,217 |
Customer relationship | Berchtold | ' |
Intangible assets: | 11 |
Customer relationship | PST | ' |
Intangible assets: | 33 |
Customer relationship | Other | ' |
Intangible assets: | 4 |
Customer relationship | MAKO | ' |
Intangible assets: | 91 |
Trade name | Berchtold | ' |
Intangible assets: | 7 |
Trade name | PST | ' |
Intangible assets: | 0 |
Trade name | Other | ' |
Intangible assets: | 0 |
Trade name | MAKO | ' |
Intangible assets: | 24 |
Developed technology & patents | Berchtold | ' |
Intangible assets: | 32 |
Developed technology & patents | PST | ' |
Intangible assets: | 26 |
Developed technology & patents | Other | ' |
Intangible assets: | 70 |
Developed technology & patents | MAKO | ' |
Intangible assets: | 231 |
IPRD | Berchtold | ' |
Intangible assets: | 0 |
IPRD | PST | ' |
Intangible assets: | 0 |
IPRD | Other | ' |
Intangible assets: | 2 |
IPRD | MAKO | ' |
Intangible assets: | $169 |
LongTerm_Debt_and_Credit_Facil2
Long-Term Debt and Credit Facilities (Narrative) (Details) (USD $) | 6 Months Ended | |
In Millions, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 |
Commercial paper | $500 | ' |
Debt Instrument, Maturity | '397 days | ' |
Commercial Paper, weighted average interest rate | 0.27% | ' |
Line of Credit Facility, Remaining Borrowing Capacity | 949 | ' |
Long-term debt, weighted-average interest rate | 2.90% | ' |
Unamortized Debt Issuance Expense | 23 | ' |
Debt Instrument, Fair Value Disclosure | 3,795 | 2,790 |
3.00% senior unsecured notes, due January 15, 2015 | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | 3.00% | ' |
Senior Unsecured Notes 2.00% due 2016 [Member] | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | 2.00% | ' |
1.30% senior unsecured notes, due April 1, 2018 | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | 1.30% | ' |
4.375% senior unsecured notes, due January 15, 2020 | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | 4.38% | ' |
3.375% senior unsecured notes due 2024 [Member] | ' | ' |
Credit facility | 600 | ' |
Debt Instrument, Interest Rate, Stated Percentage | 3.38% | ' |
4.10% senior unsecured notes, due April 1, 2043 | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | 4.10% | ' |
4.375% senior unsecured notes due 2044 [Member] | ' | ' |
Credit facility | $400 | ' |
Debt Instrument, Interest Rate, Stated Percentage | 4.38% | ' |
Commercial paper | ' | ' |
Debt Instrument, Maturity | '79 days | ' |
LongTerm_Debt_and_Credit_Facil3
Long-Term Debt and Credit Facilities (Maturities Of Long-Term Debt Disclosures) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Commercial paper | $100 | $0 |
Other | 35 | 25 |
Total debt | 3,867 | 2,764 |
Less current maturities | -630 | -25 |
Total long-term debt | 3,237 | 2,739 |
3.00% senior unsecured notes, due January 15, 2015 | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | 3.00% | ' |
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 500 | 500 |
Senior Unsecured Notes 2.00% due 2016 [Member] | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | 2.00% | ' |
Senior unsecured notes repayable in year three | 749 | 749 |
1.30% senior unsecured notes, due April 1, 2018 | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | 1.30% | ' |
Senior unsecured notes repayable in year four | 598 | 598 |
4.375% senior unsecured notes, due January 15, 2020 | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | 4.38% | ' |
Senior unsecured notes repayable after year five | 498 | 498 |
3.375% senior unsecured notes due 2024 [Member] | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | 3.38% | ' |
Senior unsecured notes repayable after year five | 595 | 0 |
4.10% senior unsecured notes, due April 1, 2043 | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | 4.10% | ' |
Senior unsecured notes repayable after year five | 394 | 394 |
4.375% senior unsecured notes due 2044 [Member] | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | 4.38% | ' |
Senior unsecured notes repayable after year five | $398 | $0 |
LongTerm_Debt_and_Credit_Facil4
Long-Term Debt and Credit Facilities Long-Term Debt and Credit Facilities (Parentheticals) (Details) | Jun. 30, 2014 |
3.00% senior unsecured notes, due January 15, 2015 | ' |
Debt Instrument, Interest Rate, Stated Percentage | 3.00% |
2.00% senior unsecured notes, due September 30, 2016 | ' |
Debt Instrument, Interest Rate, Stated Percentage | 2.00% |
1.30% senior unsecured notes, due April 1, 2018 | ' |
Debt Instrument, Interest Rate, Stated Percentage | 1.30% |
4.375% senior unsecured notes, due January 15, 2020 | ' |
Debt Instrument, Interest Rate, Stated Percentage | 4.38% |
3.375% senior unsecured notes due 2024 [Member] | ' |
Debt Instrument, Interest Rate, Stated Percentage | 3.38% |
4.10% senior unsecured notes, due April 1, 2043 | ' |
Debt Instrument, Interest Rate, Stated Percentage | 4.10% |
4.375% senior unsecured notes due 2044 [Member] | ' |
Debt Instrument, Interest Rate, Stated Percentage | 4.38% |
Capital_Stock_Narrative_Detail
Capital Stock (Narrative) (Details) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | |
In Millions, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2014 | Dec. 31, 2011 |
2012 $405.0 Million Repurchase Agreement [Member] | 2011 $500.0 Million Repurchase Agreement [Member] | 2011 $500.0 Million Repurchase Agreement [Member] | ||||
Cash dividends declared, per share of common stock | $0.31 | $0.61 | $1.10 | ' | ' | ' |
Stock Repurchase Program, Authorized Amount | ' | ' | ' | $405 | ' | $500 |
Stock Repurchased and Retired During Period, Shares | ' | 0.8 | 0 | ' | 0.8 | ' |
Repurchase and retirement of 0.8 million shares of common stock | ' | 61 | ' | ' | 0 | ' |
Stock Repurchase Program, Remaining Authorized Repurchase Amount | ' | $623 | ' | ' | $218 | ' |
Restructuring_Charges_Narrativ
Restructuring Charges (Narrative) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Restructuring charges | $5 | $10 | $10 | $24 |
Cash paid | 50 | ' | ' | ' |
Historical Restructuring Cost Per Year, Maximum | 75 | ' | ' | ' |
Severance and Related Costs | ' | ' | ' | ' |
Restructuring charges | ' | ' | 4 | ' |
Contractual Obligations and Other | ' | ' | ' | ' |
Restructuring charges | ' | ' | $6 | ' |
Company_Recorded_Restructuring
Company Recorded Restructuring Charges (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
January 1 Balance | ' | ' | $20 | ' |
Charges to earnings | 5 | 10 | 10 | 24 |
Cash paid | ' | ' | -15 | ' |
June 30 Balance | 15 | ' | 15 | ' |
Severance and Related Costs | ' | ' | ' | ' |
January 1 Balance | ' | ' | 10 | ' |
Charges to earnings | ' | ' | 4 | ' |
Cash paid | ' | ' | -8 | ' |
June 30 Balance | 6 | ' | 6 | ' |
Contractual Obligations and Other | ' | ' | ' | ' |
January 1 Balance | ' | ' | 10 | ' |
Charges to earnings | ' | ' | 6 | ' |
Cash paid | ' | ' | -7 | ' |
June 30 Balance | $9 | ' | $9 | ' |
Segment_Information_Sales_And_
Segment Information (Sales And Other Financial Information By Business Segment) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Net sales | $2,363 | $2,212 | $4,668 | $4,402 |
Segment net earnings | 197 | 290 | 328 | 676 |
Acquisition and integration related charges | 17 | 15 | 30 | 32 |
Amortization of intangible assets | -33 | -26 | -64 | -49 |
Restructuring and related charges | -20 | -10 | -30 | -21 |
Recall charges | -217 | -120 | -489 | -152 |
Regulatory matter charges | ' | -22 | ' | -52 |
Tax matters | ' | ' | -8 | ' |
Net earnings | 128 | 213 | 198 | 517 |
Reconstructive | ' | ' | ' | ' |
Net sales | 1,028 | 966 | 2,027 | 1,922 |
Segment net earnings | 228 | 231 | 477 | 465 |
MedSurg | ' | ' | ' | ' |
Net sales | 905 | 832 | 1,791 | 1,669 |
Segment net earnings | 151 | 161 | 296 | 322 |
Neurotechnology and Spine | ' | ' | ' | ' |
Net sales | 430 | 414 | 850 | 811 |
Segment net earnings | 79 | 73 | 165 | 151 |
Total | ' | ' | ' | ' |
Net sales | 2,363 | 2,212 | 4,668 | 4,402 |
Segment net earnings | 458 | 465 | 938 | 938 |
Corporate and Other [Member] | ' | ' | ' | ' |
Segment net earnings | ($43) | ($59) | ($119) | ($115) |