Stryker (SYK) 10-Q 27 Oct 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Sep. 30, 2017shares
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Trading Symbol	SYK
Entity Registrant Name	STRYKER CORP
Entity Central Index Key	310,764
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	374,237,631

Consolidated Statements Of Earn

Consolidated Statements Of Earnings (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
Net sales	$ 3,006	$ 2,833	$ 8,973	$ 8,168
Cost of sales	1,024	960	3,039	2,759
Gross profit	1,982	1,873	5,934	5,409
Research, development and engineering expenses	198	184	582	526
Selling, general and administrative expenses	1,103	1,057	3,335	3,044
Recall charges	66	57	164	104
Amortization of intangible assets	92	89	275	230
Total operating expenses	1,459	1,387	4,356	3,904
Operating income	523	486	1,578	1,505
Other income (expense), net	(52)	(67)	(164)	(172)
Earnings before income taxes	471	419	1,414	1,333
Income taxes	37	64	145	196
Net earnings	$ 434	$ 355	$ 1,269	$ 1,137
Net earnings per share of common stock:
Basic net earnings per share of common stock	$ 1.16	$ 0.95	$ 3.39	$ 3.04
Diluted net earnings per share of common stock	$ 1.14	$ 0.94	$ 3.34	$ 3.01
Weighted-average shares outstanding:
Basic	374.2	374.4	373.8	373.9
Effect of dilutive employee stock options	6	4.6	6	4.4
Diluted	380.2	379	379.8	378.3

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement of Comprehensive Income [Abstract]
Net earnings	$ 434	$ 355	$ 1,269	$ 1,137
Other comprehensive income, net of tax:
Marketable securities	(3)	0	(3)	0
Pension plans	14	(1)	4	(4)
Unrealized gains (losses) on designated hedges	(6)	0	(7)	(35)
Financial statement translation	87	(4)	269	78
Total other comprehensive income, net of tax	92	(5)	263	39
Comprehensive income	$ 526	$ 350	$ 1,532	$ 1,176

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 2,592	$ 3,316
Marketable securities	97	68
Accounts receivable, less allowance of $65 ($56 in 2016)	1,965	1,967
Inventories:
Materials and supplies	523	425
Work in process	159	130
Finished goods	1,772	1,475
Total inventories	2,454	2,030
Prepaid expenses and other current assets	602	480
Total current assets	7,710	7,861
Property, plant and equipment:
Land, buildings and improvements	921	820
Machinery and equipment	2,768	2,341
Total property, plant and equipment	3,689	3,161
Less allowance for depreciation	1,837	1,592
Property, plant and equipment, net	1,852	1,569
Other assets
Goodwill	7,026	6,356
Other intangibles, net	3,470	3,508
Other noncurrent assets	1,427	1,141
Total assets	21,485	20,435
Current liabilities
Accounts payable	458	437
Accrued compensation	672	767
Income taxes	143	40
Dividend payable	159	159
Accrued recall expenses	237	594
Accrued expenses and other liabilities	957	923
Current maturities of debt	632	228
Total current liabilities	3,258	3,148
Long-term debt, excluding current maturities	6,593	6,686
Other noncurrent liabilities	1,209	1,051
Total liabilities	11,060	10,885
Shareholders' equity
Common stock, $0.10 par value: Authorized: 1 billions shares, outstanding: 374 millions shares (375 million shares in 2016)	37	37
Additional paid-in capital	1,475	1,432
Retained earnings	9,411	8,842
Accumulated other comprehensive loss	(498)	(761)
Total shareholders' equity	10,425	9,550
Total liabilities & shareholders' equity	$ 21,485	$ 20,435

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Accounts receivable, Allowance for Doubtful Accounts	$ 65	$ 56
Common stock, par value (in dollars per share)	$ 0.1	$ 0.1
Common stock, authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, outstanding (in shares)	374,000,000	375,000,000

Consolidated Statement Of Share

Consolidated Statement Of Shareholders' Equity (Unaudited) - 9 months ended Sep. 30, 2017 - USD ($) $ in Millions	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive (Loss) Income
December 31, 2016 at Dec. 31, 2016	$ 9,550	$ 37	$ 1,432	$ 8,842	$ (761)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	(1,269)			1,269
Other comprehensive income	263
Issuance of 1.5 million shares of common stock under stock option and benefit plans	(35)		(35)
Repurchases of 1.9 million shares of common stock	(230)		(7)	(223)
Share-based compensation	85		85
Cash dividends declared of $1.275 per share of common stock	(477)			(477)
September 30, 2017 at Sep. 30, 2017	$ 10,425	$ 37	$ 1,475	$ 9,411	$ (498)

Consolidated Statement Of Shar7

Consolidated Statement Of Shareholders' Equity (Unaudited) (Parenthetical) shares in Millions	9 Months Ended
	Sep. 30, 2017$ / sharesshares
Statement of Stockholders' Equity [Abstract]
Issuance of common stock under stock option and benefit plans, shares	1.5
Repurchases and retirement of common stock, shares	1.9
Cash dividends declared, per share of common stock | $ / shares	$ 1.275

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Operating activities
Net earnings	$ 1,269	$ 1,137
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation	198	165
Amortization of intangible assets	275	230
Share-based compensation	85	71
Recall charges	164	104
Sale of inventory stepped-up to fair value at acquisition	0	37
Changes in operating assets and liabilities:
Accounts receivable	72	22
Inventories	(322)	(307)
Accounts payable	(2)	(11)
Accrued expenses and other liabilities	(97)	(10)
Recall-related payments	(492)	(128)
Income taxes	(7)	5
Other	(263)	(58)
Net cash provided by operating activities	880	1,257
Investing activities
Acquisitions, net of cash acquired	(712)	(4,296)
Purchases of marketable securities	(85)	(136)
Proceeds from sales of marketable securities	56	769
Purchases of property, plant and equipment	(412)	(347)
Other investing, net	0	(4)
Net cash used in investing activities	(1,153)	(4,014)
Financing activities
Proceeds from borrowings	1,227	4,248
Payments on borrowings	(927)	(1,430)
Dividends paid	(477)	(426)
Repurchases of common stock	(230)	(13)
Cash paid for taxes from withheld shares	(83)	(62)
Other financing	(32)	(7)
Net cash (used in) provided by financing activities	(522)	2,310
Effect of exchange rate changes on cash and cash equivalents	71	21
Change in cash and cash equivalents	(724)	(426)
Cash and cash equivalents at beginning of period	3,316	3,379
Cash and cash equivalents at end of period	$ 2,592	$ 2,953

Basis Of Presentation

Basis Of Presentation	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	BASIS OF PRESENTATION General Information These statements should be read in conjunction with our Annual Report on Form 10-K for 2016 . Management believes that the accompanying unaudited Consolidated Financial Statements contain all adjustments, including normal recurring items, considered necessary for a fair presentation of the interim periods. However, the results of operations included in these Consolidated Financial Statements may not necessarily be indicative of our annual results. Certain prior year amounts have been reclassified to conform to current year presentation in our Consolidated Statement of Cash Flows and our segment information in Note 10. New Accounting Pronouncements Not Yet Adopted In August 2017 the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2017-12, Derivatives and Hedging - Targeted Improvements to Accounting for Hedging Activities, which amends and simplifies hedge accounting guidance, as well as improves presentation and disclosure to align the economic effects of risk management strategies in the financial statements. The update is effective for fiscal years beginning after December 15, 2018 including interim periods within those fiscal years. Early adoption is permitted. We are in the process of evaluating the impact on our Consolidated Financial Statements. In May 2017 the FASB issued ASU 2017-09, Compensation - Stock Compensation, which revises the guidance related to changes in terms or conditions of a share-based payment award. We plan to adopt this update on January 1, 2018 and do not expect the adoption to have a material impact on our Consolidated Financial Statements. In March 2017 the FASB issued ASU 2017-07, Compensation - Retirement Benefits, which revises the presentation of net periodic pension cost and net periodic post-retirement benefit cost. We plan to adopt this update on January 1, 2018 and do not expect the adoption to have a material impact on our Consolidated Financial Statements. In January 2017 the FASB issued ASU 2017-01, Business Combinations: Clarifying the Definition of a Business, which provides a more robust framework to use in determining when a set of acquired assets and activities constitutes a business. In February 2016 the FASB issued ASU 2016-02, Leases. This update requires an entity to recognize assets and liabilities on the balance sheet for leases with terms greater than 12 months. We are in the process of evaluating the impact on our Consolidated Financial Statements and anticipate most of our current operating leases will result in the recognition of right to use assets and corresponding liabilities in our Consolidated Balance Sheets. We also anticipate changes in classification between financial statement line items in our Consolidated Statements of Earnings and Consolidated Statements of Cash Flows, but do not anticipate adoption of the update will have a material impact on net earnings and cash flows. We plan to adopt this update on January 1, 2019. In October 2016 the FASB issued ASU 2016-16, Income Taxes, Intra-Entity Transfers of Assets Other Than Inventory, which requires companies to account for the income tax effect of intercompany sales and transfers of assets other than inventory when the transfer occurs. Under current guidance, we defer the income tax effects of intercompany transfers of assets until the asset has been sold to an outside party or otherwise recognized. We are in the process of finalizing our assessment of this update, the impact of which we cannot reliably estimate due to potential changes in business structures, future asset transfers, fluctuations in foreign currency exchange rates and potential changes in rules and regulations enacted by tax authorities. We will adopt this update on January 1, 2018. In May 2014 the FASB issued ASU 2014-09, Revenue from Contracts with Customers. This update outlines a single, comprehensive model for accounting for revenue from contracts with customers. The guidance permits two methods of adoption: retrospectively to each prior reporting period presented (full retrospective method) or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (modified retrospective method). We plan to adopt this update on January 1, 2018 using the modified retrospective method. While we are still in the process of evaluating the full impact, we have identified certain immaterial historical revenue transactions on which the timing of recognition would have been different under this update. The actual amount of the cumulative adjustment will depend on the timing of revenue recognition of similar transactions at the end of 2017. While we cannot determine the amount based on information currently available, we do not expect it to have a material impact on our Consolidated Financial Statements. We are in the process of updating our revenue accounting policy and implementing changes to our business processes and controls in response to the new update. Accounting Pronouncements Recently Adopted On January 1, 2017 we adopted ASU 2016-09, Compensation-Stock Compensation: Improvements to Employee Share-Based Payment Accounting (ASU 2016-09). The impact on our Consolidated Statements of Earnings was a tax benefit of $8 in the three months 2017 and $48 in the nine months 2017. In our 2016 Consolidated Statements of Cash Flow we reclassified $ 31 from other financing to income taxes within operating activities to conform to current year presentation. On January 1, 2017 we adopted ASU 2016-15, Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments. The adoption of this update did not have a material impact on our Consolidated Financial Statements. No other new accounting pronouncements were issued or became effective in the period that had, or are expected to have, a material impact on our Consolidated Financial Statements.

Accumulated Other Comprehensive

Accumulated Other Comprehensive (Loss) Income (AOCI)	9 Months Ended
	Sep. 30, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive (Loss) Income (AOCI)	ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (AOCI) Three Months 2017 Marketable Securities Pension Plans Hedges Financial Statement Translation Total Beginning $ — $ (142 ) $ 23 $ (471 ) $ (590 ) OCI (6 ) 16 (7 ) 74 77 Income taxes 2 (4 ) 2 13 13 Reclassifications to: Cost of sales — 2 (1 ) — 1 Other income 1 — — — 1 Income taxes — — — — — Net OCI $ (3 ) $ 14 $ (6 ) $ 87 $ 92 Ending $ (3 ) $ (128 ) $ 17 $ (384 ) $ (498 ) Three Months 2016 Marketable Securities Pension Plans Hedges Financial Statement Translation Total Beginning $ — $ (122 ) $ (31 ) $ (442 ) $ (595 ) OCI 1 (4 ) (4 ) (8 ) (15 ) Income taxes — 1 2 4 7 Reclassifications to: Cost of sales — 2 3 — 5 Other expense (1 ) — — — (1 ) Income taxes — — (1 ) — (1 ) Net OCI $ — $ (1 ) $ — $ (4 ) $ (5 ) Ending $ — $ (123 ) $ (31 ) $ (446 ) $ (600 ) Nine Months 2017 Marketable Securities Pension Plans Hedges Financial Statement Translation Total Beginning $ — $ (132 ) $ 24 $ (653 ) $ (761 ) OCI (6 ) 1 (17 ) 227 205 Income taxes 2 (1 ) 5 42 48 Reclassifications to: Cost of sales — 5 7 — 12 Other Income 1 — — — 1 Income taxes — (1 ) (2 ) — (3 ) Net OCI $ (3 ) $ 4 $ (7 ) $ 269 $ 263 Ending $ (3 ) $ (128 ) $ 17 $ (384 ) $ (498 ) Nine Months 2016 Marketable Securities Pension Plans Hedges Financial Statement Translation Total Beginning $ — $ (119 ) $ 4 $ (524 ) $ (639 ) OCI 3 (10 ) (43 ) 69 19 Income taxes (1 ) 2 13 9 23 Reclassifications to: Cost of sales — 5 (5 ) — — Other expense (3 ) — — — (3 ) Income taxes 1 (1 ) — — — Net OCI $ — $ (4 ) $ (35 ) $ 78 $ 39 Ending $ — $ (123 ) $ (31 ) $ (446 ) $ (600 )

Derivative Instruments

Derivative Instruments	9 Months Ended
	Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	DERIVATIVE INSTRUMENTS Foreign Currency Hedges We use operational and economic hedges, foreign currency exchange forward contracts, net investment hedges (both long-term intercompany loans payable and forward exchange contracts) and interest rate derivative instruments to manage the impact of currency exchange and interest rate fluctuations on earnings and cash flow. We do not enter into derivative instruments for speculative purposes. We did not change our hedging strategies, accounting practices or objectives from those disclosed in our Annual Report on Form 10-K for 2016 . September 2017 Designated Non-Designated Total Gross notional amount $ 1,185 $ 3,488 $ 4,673 Maximum term in days 548 Fair value: Other current assets $ 13 $ 24 $ 37 Other noncurrent assets 1 — 1 Other current liabilities (35 ) (5 ) (40 ) Other noncurrent liabilities (1 ) — (1 ) Total $ (22 ) $ 19 $ (3 ) December 2016 Designated Non-Designated Total Gross notional amount $ 1,058 $ 2,841 $ 3,899 Maximum term in days 548 Fair value: Other current assets $ 24 $ 17 $ 41 Other noncurrent assets 4 — 4 Other current liabilities (9 ) (7 ) (16 ) Other noncurrent liabilities (2 ) — (2 ) Total $ 17 $ 10 $ 27 On September 30, 2017 the total after-tax amount in AOCI related to our designated net investment hedges was $21 . We evaluate the effectiveness of our net investment hedges quarterly. We have not recognized any ineffectiveness in 2017 . We are exposed to credit loss in the event of nonperformance by our counterparties on our outstanding derivative instruments 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. Net Currency Exchange Rate (Losses) Gains Three Months Nine Months Recorded in: 2017 2016 2017 2016 Cost of sales $ 1 $ (3 ) $ (7 ) $ 5 Other income (expense), net (2 ) (5 ) (6 ) (15 ) Total $ (1 ) $ (8 ) $ (13 ) $ (10 ) On September 30, 2017 and December 31, 2016 pretax gains on derivatives designated as hedges recorded in AOCI that are expected to be reclassified to earnings within 12 months of the balance sheet date were $2 and less than $1 . This reclassification is primarily due to the sale of inventory that includes previously hedged purchases. There were no ineffective portions of derivatives that resulted in gains or losses in any of the periods presented. Interest Rate Risk on Future Debt Issuance On September 30, 2017 we had interest rate swaps with notional amounts of $ 600 designated as forward starting interest rate swaps in anticipation of future debt issuances. The market value of outstanding interest rate swap agreements on September 30, 2017 was $40 , which was recorded in other current assets with an offsetting amount recorded in AOCI. Upon the probable issuance of the debt, these amounts will be released to interest expense over the term of the debt. The cash flow effect of this hedge is recorded in cash flow from operations. On September 30, 2017 we had interest rate swaps with gross notional amounts of $500 designated as fair value hedges of underlying fixed rate obligations representing a portion of our $600 senior unsecured notes due in 2024. There was no hedge ineffectiveness recorded as a result of these fair value hedges in 2017 . Fair Value Interest Rate Hedge Instruments September 2017 December 2016 Gross notional amount $ 500 $ 500 Fair value: Other noncurrent assets $ 10 $ 9 Long-term debt (10 ) (9 ) Total $ — $ —

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS Financial assets and liabilities carried at fair value are classified and disclosed in one of the following three categories: Level 1 Quoted market prices in active markets for identical assets or liabilities Level 2 Observable market-based inputs or unobservable inputs that are corroborated by market data Level 3 Unobservable inputs reflecting our assumptions or external inputs from active markets When applying the fair value principles in the valuation of assets and liabilities, we are required to maximize the use of quoted market prices and minimize the use of unobservable inputs. We calculate the fair value of our Level 1 and Level 2 instruments based on the exchange traded price of identical or similar instruments, where available, or based on other observable inputs taking into account our credit and that of our counterparties. Foreign currency exchange contracts and interest rate hedges are included in Level 2 as we use inputs other than quoted prices that are observable for the asset or liability. The Level 2 derivative instruments are primarily valued using standard calculations and models that are based on readily observable market data. Our Level 3 liabilities represent milestone payments for acquisitions recorded at fair value calculated using either the Black-Scholes option pricing model or a discounted cash flow technique. Significant unobservable inputs were used in our probability assessments and were appropriately discounted considering the uncertainties associated with the obligation. We estimate that substantially all triggering events will occur. We remeasure the fair value of our assets and liabilities each reporting period. We record the changes in fair value within selling, general and administrative expense and the changes in the time value of money within other income (expense), net. Assets and Liabilities Measured at Fair Value September December 2017 2016 Cash and cash equivalents $ 2,592 $ 3,316 Trading marketable securities 114 94 Level 1 - Assets $ 2,706 $ 3,410 Available-for-sale marketable securities: Corporate and asset-backed debt securities $ 33 $ 25 United States agency debt securities 19 9 United States Treasury debt securities 24 16 Certificates of deposit 21 18 Total available-for-sale marketable securities $ 97 $ 68 Foreign currency exchange forward contracts 38 45 Interest rate swap asset 50 57 Level 2 - Assets $ 185 $ 170 Total assets measured at fair value $ 2,891 $ 3,580 Deferred compensation arrangements $ 114 $ 94 Level 1 - Liabilities $ 114 $ 94 Foreign currency exchange forward contracts $ 41 $ 18 Level 2 - Liabilities $ 41 $ 18 Contingent consideration: Beginning $ 86 $ 56 Additions 5 49 Change in estimate (2 ) (7 ) Settlements (56 ) (12 ) Ending $ 33 $ 86 Level 3 - Liabilities $ 33 $ 86 Total liabilities measured at fair value $ 188 $ 198 There were no significant transfers into or out of any level in 2017 . Fair Value of Available for Sale Securities by Maturity September 2017 December 2016 Due in one year or less $ 50 $ 36 Due after one year through three years $ 47 $ 32 On September 30, 2017 the aggregate difference between the cost and fair value of available-for-sale marketable securities was nominal. Interest and marketable securities income was $15 and $7 in the three months and $38 and $19 in the nine months 2017 and 2016 , which was recorded in other income (expense), net. Less than 1% of our investments in available-for-sale marketable securities had a credit quality rating of less than A2 (Moody's), A (Standard & Poor's) and A (Fitch). We do not plan 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. We do not consider these investments to be other-than-temporarily impaired on September 30, 2017 . Substantially all our investments with unrealized losses that were not deemed to be other-than-temporarily impaired were in a continuous unrealized loss position for less than twelve months, and the losses were nominal. Securities in a Continuous Unrealized Loss Position Number of Investments Fair Value Corporate and asset-backed 25 $ 9 United States agency 15 18 United States Treasury 16 24 Certificates of deposit 6 3 Total 62 $ 54

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2017
Business Combinations [Abstract]
Acquisitions	ACQUISITIONS In September 2017 we completed the acquisition of NOVADAQ Technologies Inc. (NOVADAQ) for total consideration of approximately $716 . NOVADAQ is a leading developer of fluorescence imaging technology that provides surgeons with visualization of blood flow in vessels and related tissue perfusion in cardiac, cardiovascular, gastrointestinal, plastic, microsurgical, and reconstructive procedures. This acquisition enhances product offerings within our MedSurg segment. In April 2016 we completed the acquisition of Sage Products, LLC (Sage) for total consideration of approximately $2,875 . Sage develops, manufactures and distributes intensive care disposable products. This acquisition enhanced our product offerings within our MedSurg segment. The finalization of our purchase price allocation resulted in a $30 increase in goodwill from our preliminary allocation in 2016. In April 2016 we completed the acquisition of Physio-Control International, Inc. (Physio) for total net consideration of approximately $ 1,299 . Physio develops, manufactures and markets monitors/defibrillators, AEDs and CPR-assist devices along with data management and support services. This acquisition enhanced our product offerings within our MedSurg segment. The finalization of our purchase price allocation resulted in a $19 decrease in goodwill from our preliminary allocation in 2016. The Other acquisitions in 2016 include the acquisition of the Synergetics neuro portfolio (Synergetics). The Synergetics acquisition enhanced our product offerings within our MedSurg segment. The finalization of our purchase price allocation resulted in an $11 increase in goodwill from our preliminary allocation in 2016. Purchase price allocations for NOVADAQ and certain Other acquisitions in 2017 and 2016 are based on preliminary valuations. Our estimates and assumptions are subject to change within the measurement period. Goodwill acquired with the Sage and Synergetics acquisitions is deductible for tax purposes. Purchase Price Allocation of Acquired Net Assets 2017 2016 NOVADAQ Other Sage Physio Other Purchase price paid $ 716 $ 38 $ 2,870 $ 1,299 $ 348 Contingent consideration — 5 5 — 27 Loss on settlement of pre-existing contract — — — — (19 ) Total consideration $ 716 $ 43 $ 2,875 $ 1,299 $ 356 Tangible assets: Cash $ 42 $ — $ 91 $ 32 $ 1 Accounts receivable 20 1 29 107 17 Inventory 22 2 63 61 5 Other assets 26 1 80 103 22 Liabilities (54 ) (2 ) (83 ) (364 ) (37 ) Intangible assets: Customer relationship 18 — 930 344 12 Trade name 1 — 70 160 10 Developed technology and patents 139 33 173 226 119 Non-compete — — — — 2 IPR&D — — — 7 7 Goodwill 502 8 1,522 623 199 $ 716 $ 43 $ 2,875 $ 1,299 $ 357 Weighted-average life of intangible assets 15 15 15 14 12 Estimated Amortization Expense Remainder of 2017 2018 2019 2020 2021 $ 90 $ 372 $ 348 $ 329 $ 319

Contingencies and Commitments

Contingencies and Commitments	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Commitments	CONTINGENCIES AND COMMITMENTS 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 that are more fully described below. 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 had 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, 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 estimated by management, additional expense may be incurred, which could unfavorably affect future operating results. We are self-insured for product liability 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 June 2012 we voluntarily recalled our Rejuvenate and ABG II Modular-Neck hip stems and terminated global distribution of these hip products. Product liability lawsuits relating to this voluntary recall have been filed against us. On November 3, 2014 we announced that we had entered into a settlement agreement to compensate eligible United States patients who had revision surgery to replace their Rejuvenate and/or ABG II Modular-Neck hip stem prior to that date and in December 2016 the settlement program was extended to patients who had revision surgery prior to December 19, 2016. We continue to offer support for recall-related care and reimburse patients who are not eligible to enroll in the settlement program for testing and treatment services, including any necessary revision surgeries. In addition, some lawsuits remain and we will continue to defend against them. Based on the information that has been received, the actuarially determined range of probable loss to resolve this matter globally is currently estimated to be approximately $2,072 to $2,327 (net of $232 of third-party insurance recoveries). We recognized additional charges to earnings of $35 and $104 in the three and nine months 2017 , representing the excess of the minimum of the range over the previously recorded reserves. The final outcome of this matter is dependent on many factors that are difficult to predict including the number of enrollees in the settlement program and the total awards to them, the number and costs of patients not eligible for the settlement program who seek testing and treatment services and require revision surgery and the number and actual costs to resolve the remaining lawsuits. Accordingly, the ultimate cost to resolve this entire matter globally 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 Biomet Holdings, Inc. (Zimmer), alleging that a Zimmer product infringed on three of our patents. In 2013 following a jury trial favorable to us, the trial judge entered a final judgment that, among other things, awarded us damages of $76 and ordered Zimmer to pay us enhanced damages. Zimmer appealed this ruling. In December 2014 the Federal Circuit affirmed the damages awarded to us, reversed the order for enhanced damages and remanded the issue of attorney fees to the trial court. In May 2015 the trial court entered a stipulated judgment that, among other things, required Zimmer to pay us the base amount of damages and interest, while the issues of enhanced damages and attorney fees continue to be pursued. In June 2015 we recorded a $54 gain, net of legal costs, which was recorded within selling, general and administrative expenses. On June 13, 2016 the United States Supreme Court vacated the decision of the Federal Circuit that reversed our judgment for enhanced damages and remanded the case to the Federal Circuit to reconsider the issue. On September 12, 2016 the Federal Circuit issued an opinion that, among other things, remanded the issue of enhanced damages to the trial court. On July 12, 2017 the trial court reaffirmed its award of enhanced damages and then entered a judgment of $164 in our favor. On July 24, 2017 Zimmer filed a notice of appeal of this decision. In April 2011 Hill-Rom Company, Inc. and affiliated entities (Hill-Rom) brought a lawsuit against us alleging infringement under United States patent laws with respect to nine patents related to electrical network communications for hospital beds. On July 18, 2017 the parties resolved the litigation pursuant to a confidential settlement agreement under which we agreed to pay $15 to Hill-Rom.

Debt and Credit Facilities

Debt and Credit Facilities	9 Months Ended
	Sep. 30, 2017
Long-term Debt, Unclassified [Abstract]
Debt And Credit Facilities	DEBT AND CREDIT FACILITIES In January 2017 we issued $500 of senior unsecured notes with an interest rate of 1.800% due on January 15, 2019. Our commercial paper program allows us to have a maximum of $1,500 in commercial paper outstanding with maturities up to 397 days from the date of issuance. On September 30, 2017 there were no amounts outstanding under our commercial paper program. We have lines of credit issued by various financial institutions that are available to fund our day-to-day operating needs. Certain of our credit facilities require us to comply with financial and other covenants. We were in compliance with all covenants on September 30, 2017 . Summary of Total Debt Senior unsecured notes: September 2017 December 2016 Rate Due 1.300% April 1, 2018 $ 599 $ 598 1.800% January 15, 2019 499 — 2.000% March 8, 2019 747 746 4.375% January 15, 2020 498 497 2.625% March 15, 2021 746 745 3.375% May 15, 2024 603 602 3.375% November 1, 2025 745 744 3.500% March 15, 2026 988 987 4.100% April 1, 2043 391 391 4.375% May 15, 2044 394 395 4.625% March 15, 2046 980 979 Commercial paper — 200 Other 35 30 Total debt $ 7,225 $ 6,914 Less current maturities 632 228 Total long-term debt $ 6,593 $ 6,686 Unamortized debt issuance costs $ 41 $ 45 Available borrowing capacity $ 1,542 $ 1,551 Fair value of debt $ 7,446 $ 6,762 The fair value of the debt (excluding the interest rate hedge) was estimated using quoted interest rates, maturities and amounts of borrowings based on quoted active market prices and yields that took into account the underlying terms of the debt instruments. Substantially all of our debt is classified within Level 2 of the fair value hierarchy.

Capital Stock

Capital Stock	9 Months Ended
	Sep. 30, 2017
Class of Stock Disclosures [Abstract]
Capital Stock	CAPITAL STOCK In February 2017 we declared a quarterly dividend of $0.425 per share payable on April 28, 2017 to shareholders of record at the close of business on March 31, 2017 . In May 2017 we declared a quarterly dividend of $0.425 per share payable on July 31, 2017 to shareholders of record at the close of business on June 30, 2017 . In August 2017 we declared a quarterly dividend of $0.425 per share payable on October 31, 2017 to shareholders of record at the close of business on September 29, 2017 . In March 2015 we announced that our Board of Directors had authorized us to purchase up to $2,000 of our common stock. In January 2017 we repurchased 1.9 million shares at a cost of $230 under our authorized repurchase program. The manner, timing and amount of repurchases are determined by management based on an evaluation of market conditions, stock price, and other factors and is subject to regulatory considerations. Purchases are made from time-to-time in the open market, in privately negotiated transactions or otherwise. On September 30, 2017 the total dollar value of shares that could be acquired under our authorized repurchase program was $1,640 .

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES Our effective tax rates were 7.9% and 15.2% in the three months and 10.3% and 14.7% in the nine months 2017 and 2016 . The decrease in the effective income tax rates in the three and nine months 2017 was primarily due to the income tax effect of the adoption of ASU 2016-09. Refer to Note 1 for further information.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION Three Months Nine Months 2017 2016 2017 2016 Orthopaedics $ 1,132 $ 1,077 $ 3,408 $ 3,216 MedSurg 1,336 1,253 3,977 3,469 Neurotechnology and Spine 538 503 1,588 1,483 Net sales $ 3,006 $ 2,833 $ 8,973 $ 8,168 Orthopaedics $ 389 $ 383 $ 1,175 $ 1,152 MedSurg 271 269 840 714 Neurotechnology and Spine 157 142 445 406 Segment operating income $ 817 $ 794 $ 2,460 $ 2,272 Items not allocated to segments: Corporate and other (89 ) (88 ) (265 ) (258 ) Acquisition and integration-related charges (11 ) (49 ) (29 ) (120 ) Amortization of intangible assets (92 ) (89 ) (275 ) (230 ) Restructuring-related charges (36 ) (25 ) (119 ) (67 ) Rejuvenate and ABG II and other recalls (66 ) (57 ) (164 ) (104 ) Legal matters — — (30 ) 12 Consolidated operating income $ 523 $ 486 $ 1,578 $ 1,505 There were no significant changes to total assets by segment from information provided in our Annual Report on Form 10-K for 2016 .

Basis Of Presentation (Policies

Basis Of Presentation (Policies)	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
New Accounting Pronouncements Not Yet Adopted	New Accounting Pronouncements Not Yet Adopted In August 2017 the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2017-12, Derivatives and Hedging - Targeted Improvements to Accounting for Hedging Activities, which amends and simplifies hedge accounting guidance, as well as improves presentation and disclosure to align the economic effects of risk management strategies in the financial statements. The update is effective for fiscal years beginning after December 15, 2018 including interim periods within those fiscal years. Early adoption is permitted. We are in the process of evaluating the impact on our Consolidated Financial Statements. In May 2017 the FASB issued ASU 2017-09, Compensation - Stock Compensation, which revises the guidance related to changes in terms or conditions of a share-based payment award. We plan to adopt this update on January 1, 2018 and do not expect the adoption to have a material impact on our Consolidated Financial Statements. In March 2017 the FASB issued ASU 2017-07, Compensation - Retirement Benefits, which revises the presentation of net periodic pension cost and net periodic post-retirement benefit cost. We plan to adopt this update on January 1, 2018 and do not expect the adoption to have a material impact on our Consolidated Financial Statements. In January 2017 the FASB issued ASU 2017-01, Business Combinations: Clarifying the Definition of a Business, which provides a more robust framework to use in determining when a set of acquired assets and activities constitutes a business. In February 2016 the FASB issued ASU 2016-02, Leases. This update requires an entity to recognize assets and liabilities on the balance sheet for leases with terms greater than 12 months. We are in the process of evaluating the impact on our Consolidated Financial Statements and anticipate most of our current operating leases will result in the recognition of right to use assets and corresponding liabilities in our Consolidated Balance Sheets. We also anticipate changes in classification between financial statement line items in our Consolidated Statements of Earnings and Consolidated Statements of Cash Flows, but do not anticipate adoption of the update will have a material impact on net earnings and cash flows. We plan to adopt this update on January 1, 2019. In October 2016 the FASB issued ASU 2016-16, Income Taxes, Intra-Entity Transfers of Assets Other Than Inventory, which requires companies to account for the income tax effect of intercompany sales and transfers of assets other than inventory when the transfer occurs. Under current guidance, we defer the income tax effects of intercompany transfers of assets until the asset has been sold to an outside party or otherwise recognized. We are in the process of finalizing our assessment of this update, the impact of which we cannot reliably estimate due to potential changes in business structures, future asset transfers, fluctuations in foreign currency exchange rates and potential changes in rules and regulations enacted by tax authorities. We will adopt this update on January 1, 2018. In May 2014 the FASB issued ASU 2014-09, Revenue from Contracts with Customers. This update outlines a single, comprehensive model for accounting for revenue from contracts with customers. The guidance permits two methods of adoption: retrospectively to each prior reporting period presented (full retrospective method) or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (modified retrospective method). We plan to adopt this update on January 1, 2018 using the modified retrospective method. While we are still in the process of evaluating the full impact, we have identified certain immaterial historical revenue transactions on which the timing of recognition would have been different under this update. The actual amount of the cumulative adjustment will depend on the timing of revenue recognition of similar transactions at the end of 2017. While we cannot determine the amount based on information currently available, we do not expect it to have a material impact on our Consolidated Financial Statements. We are in the process of updating our revenue accounting policy and implementing changes to our business processes and controls in response to the new update.
Accounting Pronouncements Recently Adopted	Accounting Pronouncements Recently Adopted On January 1, 2017 we adopted ASU 2016-09, Compensation-Stock Compensation: Improvements to Employee Share-Based Payment Accounting (ASU 2016-09). The impact on our Consolidated Statements of Earnings was a tax benefit of $8 in the three months 2017 and $48 in the nine months 2017. In our 2016 Consolidated Statements of Cash Flow we reclassified $ 31 from other financing to income taxes within operating activities to conform to current year presentation. On January 1, 2017 we adopted ASU 2016-15, Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments. The adoption of this update did not have a material impact on our Consolidated Financial Statements. No other new accounting pronouncements were issued or became effective in the period that had, or are expected to have, a material impact on our Consolidated Financial Statements.

Accumulated Other Comprehensi20

Accumulated Other Comprehensive (Loss) Income (AOCI) (Tables)	9 Months Ended
	Sep. 30, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	Three Months 2017 Marketable Securities Pension Plans Hedges Financial Statement Translation Total Beginning $ — $ (142 ) $ 23 $ (471 ) $ (590 ) OCI (6 ) 16 (7 ) 74 77 Income taxes 2 (4 ) 2 13 13 Reclassifications to: Cost of sales — 2 (1 ) — 1 Other income 1 — — — 1 Income taxes — — — — — Net OCI $ (3 ) $ 14 $ (6 ) $ 87 $ 92 Ending $ (3 ) $ (128 ) $ 17 $ (384 ) $ (498 ) Three Months 2016 Marketable Securities Pension Plans Hedges Financial Statement Translation Total Beginning $ — $ (122 ) $ (31 ) $ (442 ) $ (595 ) OCI 1 (4 ) (4 ) (8 ) (15 ) Income taxes — 1 2 4 7 Reclassifications to: Cost of sales — 2 3 — 5 Other expense (1 ) — — — (1 ) Income taxes — — (1 ) — (1 ) Net OCI $ — $ (1 ) $ — $ (4 ) $ (5 ) Ending $ — $ (123 ) $ (31 ) $ (446 ) $ (600 ) Nine Months 2017 Marketable Securities Pension Plans Hedges Financial Statement Translation Total Beginning $ — $ (132 ) $ 24 $ (653 ) $ (761 ) OCI (6 ) 1 (17 ) 227 205 Income taxes 2 (1 ) 5 42 48 Reclassifications to: Cost of sales — 5 7 — 12 Other Income 1 — — — 1 Income taxes — (1 ) (2 ) — (3 ) Net OCI $ (3 ) $ 4 $ (7 ) $ 269 $ 263 Ending $ (3 ) $ (128 ) $ 17 $ (384 ) $ (498 ) Nine Months 2016 Marketable Securities Pension Plans Hedges Financial Statement Translation Total Beginning $ — $ (119 ) $ 4 $ (524 ) $ (639 ) OCI 3 (10 ) (43 ) 69 19 Income taxes (1 ) 2 13 9 23 Reclassifications to: Cost of sales — 5 (5 ) — — Other expense (3 ) — — — (3 ) Income taxes 1 (1 ) — — — Net OCI $ — $ (4 ) $ (35 ) $ 78 $ 39 Ending $ — $ (123 ) $ (31 ) $ (446 ) $ (600 )
Reclassification out of Accumulated Other Comprehensive Income	Three Months 2017 Marketable Securities Pension Plans Hedges Financial Statement Translation Total Beginning $ — $ (142 ) $ 23 $ (471 ) $ (590 ) OCI (6 ) 16 (7 ) 74 77 Income taxes 2 (4 ) 2 13 13 Reclassifications to: Cost of sales — 2 (1 ) — 1 Other income 1 — — — 1 Income taxes — — — — — Net OCI $ (3 ) $ 14 $ (6 ) $ 87 $ 92 Ending $ (3 ) $ (128 ) $ 17 $ (384 ) $ (498 ) Three Months 2016 Marketable Securities Pension Plans Hedges Financial Statement Translation Total Beginning $ — $ (122 ) $ (31 ) $ (442 ) $ (595 ) OCI 1 (4 ) (4 ) (8 ) (15 ) Income taxes — 1 2 4 7 Reclassifications to: Cost of sales — 2 3 — 5 Other expense (1 ) — — — (1 ) Income taxes — — (1 ) — (1 ) Net OCI $ — $ (1 ) $ — $ (4 ) $ (5 ) Ending $ — $ (123 ) $ (31 ) $ (446 ) $ (600 ) Nine Months 2017 Marketable Securities Pension Plans Hedges Financial Statement Translation Total Beginning $ — $ (132 ) $ 24 $ (653 ) $ (761 ) OCI (6 ) 1 (17 ) 227 205 Income taxes 2 (1 ) 5 42 48 Reclassifications to: Cost of sales — 5 7 — 12 Other Income 1 — — — 1 Income taxes — (1 ) (2 ) — (3 ) Net OCI $ (3 ) $ 4 $ (7 ) $ 269 $ 263 Ending $ (3 ) $ (128 ) $ 17 $ (384 ) $ (498 ) Nine Months 2016 Marketable Securities Pension Plans Hedges Financial Statement Translation Total Beginning $ — $ (119 ) $ 4 $ (524 ) $ (639 ) OCI 3 (10 ) (43 ) 69 19 Income taxes (1 ) 2 13 9 23 Reclassifications to: Cost of sales — 5 (5 ) — — Other expense (3 ) — — — (3 ) Income taxes 1 (1 ) — — — Net OCI $ — $ (4 ) $ (35 ) $ 78 $ 39 Ending $ — $ (123 ) $ (31 ) $ (446 ) $ (600 )

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	September 2017 Designated Non-Designated Total Gross notional amount $ 1,185 $ 3,488 $ 4,673 Maximum term in days 548 Fair value: Other current assets $ 13 $ 24 $ 37 Other noncurrent assets 1 — 1 Other current liabilities (35 ) (5 ) (40 ) Other noncurrent liabilities (1 ) — (1 ) Total $ (22 ) $ 19 $ (3 ) December 2016 Designated Non-Designated Total Gross notional amount $ 1,058 $ 2,841 $ 3,899 Maximum term in days 548 Fair value: Other current assets $ 24 $ 17 $ 41 Other noncurrent assets 4 — 4 Other current liabilities (9 ) (7 ) (16 ) Other noncurrent liabilities (2 ) — (2 ) Total $ 17 $ 10 $ 27
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location	Net Currency Exchange Rate (Losses) Gains Three Months Nine Months Recorded in: 2017 2016 2017 2016 Cost of sales $ 1 $ (3 ) $ (7 ) $ 5 Other income (expense), net (2 ) (5 ) (6 ) (15 ) Total $ (1 ) $ (8 ) $ (13 ) $ (10 )
Schedule of Interest Rate Derivatives	Fair Value Interest Rate Hedge Instruments September 2017 December 2016 Gross notional amount $ 500 $ 500 Fair value: Other noncurrent assets $ 10 $ 9 Long-term debt (10 ) (9 ) Total $ — $ —

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	Assets and Liabilities Measured at Fair Value September December 2017 2016 Cash and cash equivalents $ 2,592 $ 3,316 Trading marketable securities 114 94 Level 1 - Assets $ 2,706 $ 3,410 Available-for-sale marketable securities: Corporate and asset-backed debt securities $ 33 $ 25 United States agency debt securities 19 9 United States Treasury debt securities 24 16 Certificates of deposit 21 18 Total available-for-sale marketable securities $ 97 $ 68 Foreign currency exchange forward contracts 38 45 Interest rate swap asset 50 57 Level 2 - Assets $ 185 $ 170 Total assets measured at fair value $ 2,891 $ 3,580 Deferred compensation arrangements $ 114 $ 94 Level 1 - Liabilities $ 114 $ 94 Foreign currency exchange forward contracts $ 41 $ 18 Level 2 - Liabilities $ 41 $ 18 Contingent consideration: Beginning $ 86 $ 56 Additions 5 49 Change in estimate (2 ) (7 ) Settlements (56 ) (12 ) Ending $ 33 $ 86 Level 3 - Liabilities $ 33 $ 86 Total liabilities measured at fair value $ 188 $ 198
Investments Classified by Contractual Maturity Date	Fair Value of Available for Sale Securities by Maturity September 2017 December 2016 Due in one year or less $ 50 $ 36 Due after one year through three years $ 47 $ 32
Schedule of Unrealized Loss on Investments	Securities in a Continuous Unrealized Loss Position Number of Investments Fair Value Corporate and asset-backed 25 $ 9 United States agency 15 18 United States Treasury 16 24 Certificates of deposit 6 3 Total 62 $ 54

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2017
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition	Purchase Price Allocation of Acquired Net Assets 2017 2016 NOVADAQ Other Sage Physio Other Purchase price paid $ 716 $ 38 $ 2,870 $ 1,299 $ 348 Contingent consideration — 5 5 — 27 Loss on settlement of pre-existing contract — — — — (19 ) Total consideration $ 716 $ 43 $ 2,875 $ 1,299 $ 356 Tangible assets: Cash $ 42 $ — $ 91 $ 32 $ 1 Accounts receivable 20 1 29 107 17 Inventory 22 2 63 61 5 Other assets 26 1 80 103 22 Liabilities (54 ) (2 ) (83 ) (364 ) (37 ) Intangible assets: Customer relationship 18 — 930 344 12 Trade name 1 — 70 160 10 Developed technology and patents 139 33 173 226 119 Non-compete — — — — 2 IPR&D — — — 7 7 Goodwill 502 8 1,522 623 199 $ 716 $ 43 $ 2,875 $ 1,299 $ 357 Weighted-average life of intangible assets 15 15 15 14 12
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	Estimated Amortization Expense Remainder of 2017 2018 2019 2020 2021 $ 90 $ 372 $ 348 $ 329 $ 319

Debt and Credit Facilities (Tab

Debt and Credit Facilities (Tables)	9 Months Ended
	Sep. 30, 2017
Long-term Debt, Unclassified [Abstract]
Schedule of Long-term Debt Instruments	Summary of Total Debt Senior unsecured notes: September 2017 December 2016 Rate Due 1.300% April 1, 2018 $ 599 $ 598 1.800% January 15, 2019 499 — 2.000% March 8, 2019 747 746 4.375% January 15, 2020 498 497 2.625% March 15, 2021 746 745 3.375% May 15, 2024 603 602 3.375% November 1, 2025 745 744 3.500% March 15, 2026 988 987 4.100% April 1, 2043 391 391 4.375% May 15, 2044 394 395 4.625% March 15, 2046 980 979 Commercial paper — 200 Other 35 30 Total debt $ 7,225 $ 6,914 Less current maturities 632 228 Total long-term debt $ 6,593 $ 6,686 Unamortized debt issuance costs $ 41 $ 45 Available borrowing capacity $ 1,542 $ 1,551 Fair value of debt $ 7,446 $ 6,762

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Sales and Other Financial Information by Business Segment	Three Months Nine Months 2017 2016 2017 2016 Orthopaedics $ 1,132 $ 1,077 $ 3,408 $ 3,216 MedSurg 1,336 1,253 3,977 3,469 Neurotechnology and Spine 538 503 1,588 1,483 Net sales $ 3,006 $ 2,833 $ 8,973 $ 8,168 Orthopaedics $ 389 $ 383 $ 1,175 $ 1,152 MedSurg 271 269 840 714 Neurotechnology and Spine 157 142 445 406 Segment operating income $ 817 $ 794 $ 2,460 $ 2,272 Items not allocated to segments: Corporate and other (89 ) (88 ) (265 ) (258 ) Acquisition and integration-related charges (11 ) (49 ) (29 ) (120 ) Amortization of intangible assets (92 ) (89 ) (275 ) (230 ) Restructuring-related charges (36 ) (25 ) (119 ) (67 ) Rejuvenate and ABG II and other recalls (66 ) (57 ) (164 ) (104 ) Legal matters — — (30 ) 12 Consolidated operating income $ 523 $ 486 $ 1,578 $ 1,505

Basis Of Presentation Adoption

Basis Of Presentation Adoption of New Accounting Standards (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2017	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Excess Tax Benefit from stock issued under employee stock plans	$ (8)	$ (48)	$ (31)

Accumulated Other Comprehensi27

Accumulated Other Comprehensive (Loss) Income (AOCI) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated Other Comprehensive Income (Loss), Net of Tax at beginning of period	$ (590)	$ (595)	$ (761)	$ (639)
OCI	77	(15)	205	19
Income taxes	13	7	48	23
Cost of sales	1,024	960	3,039	2,759
Other income (expense), net	(52)	(67)	(164)	(172)
Income taxes	(37)	(64)	(145)	(196)
Total other comprehensive income, net of tax	92	(5)	263	39
Accumulated Other Comprehensive Income (Loss), Net of Tax at end of period	(498)	(600)	(498)	(600)
Reclassification out of Accumulated Other Comprehensive Income
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Cost of sales	1	5	12	0
Other income (expense), net	1	(1)	1	(3)
Income taxes	0	(1)	(3)	0
Total other comprehensive income, net of tax	92	(5)	263	39
Marketable Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated Other Comprehensive Income (Loss), Net of Tax at beginning of period	0	0	0	0
OCI	(6)	1	(6)	3
Income taxes	2	0	2	(1)
Accumulated Other Comprehensive Income (Loss), Net of Tax at end of period	(3)	0	(3)	0
Marketable Securities | Reclassification out of Accumulated Other Comprehensive Income
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Cost of sales	0	0	0	0
Other income (expense), net	1	(1)	1	(3)
Income taxes	0	0	0	1
Total other comprehensive income, net of tax	(3)	0	(3)	0
Pension Plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated Other Comprehensive Income (Loss), Net of Tax at beginning of period	(142)	(122)	(132)	(119)
OCI	16	(4)	1	(10)
Income taxes	(4)	1	(1)	2
Accumulated Other Comprehensive Income (Loss), Net of Tax at end of period	(128)	(123)	(128)	(123)
Pension Plans | Reclassification out of Accumulated Other Comprehensive Income
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Cost of sales	2	2	5	5
Other income (expense), net	0	0	0	0
Income taxes	0	0	(1)	(1)
Total other comprehensive income, net of tax	14	(1)	4	(4)
Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated Other Comprehensive Income (Loss), Net of Tax at beginning of period	23	(31)	24	4
OCI	(7)	(4)	(17)	(43)
Income taxes	2	2	5	13
Accumulated Other Comprehensive Income (Loss), Net of Tax at end of period	17	(31)	17	(31)
Hedges | Reclassification out of Accumulated Other Comprehensive Income
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Cost of sales	(1)	3	7	(5)
Other income (expense), net	0	0	0	0
Income taxes	0	(1)	(2)	0
Total other comprehensive income, net of tax	(6)	0	(7)	(35)
Financial Statement Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated Other Comprehensive Income (Loss), Net of Tax at beginning of period	(471)	(442)	(653)	(524)
OCI	74	(8)	227	69
Income taxes	13	4	42	9
Accumulated Other Comprehensive Income (Loss), Net of Tax at end of period	(384)	(446)	(384)	(446)
Financial Statement Translation | Reclassification out of Accumulated Other Comprehensive Income
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Cost of sales	0	0	0	0
Other income (expense), net	0	0	0	0
Income taxes	0	0	0	0
Total other comprehensive income, net of tax	$ 87	$ (4)	$ 269	$ 78

Derivative Instruments (Narrati

Derivative Instruments (Narrative) (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Senior Unsecured Notes 3.375% due 2024
Senior Unsecured Notes	$ 600
Foreign Exchange Contract
Notional Amount	4,673	$ 3,899
Designated as Hedging Instrument | Foreign Exchange Contract
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months	2	1
Notional Amount	1,185	1,058
Net Investment Hedging
Derivative Instruments in Hedges, Net Investment in Foreign Operations, Assets, Fair Value	21
Interest Rate Risk | Designated as Hedging Instrument | Interest rate swap liability
Notional Amount	600
Derivative Asset, Fair Value, Gross Asset	40
Fair Value Hedging | Designated as Hedging Instrument | Interest rate swap liability
Notional Amount	$ 500	$ 500

Derivative Instruments (Forward

Derivative Instruments (Forward Currency Exchange Contracts) (Details) - Foreign Exchange Contract - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Derivative [Line Items]
Notional Amount	$ 4,673	$ 3,899
Maximum Term (Days)	548 days	548 days
Derivative, Fair Value, Net	$ (3)	$ 27
Other current assets
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset	37	41
Other noncurrent assets
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset	1	4
Other current liabilities
Derivative [Line Items]
Derivative Liability, Fair Value, Gross Liability	(40)	(16)
Other noncurrent liabilities
Derivative [Line Items]
Derivative Liability, Fair Value, Gross Liability	(1)	(2)
Designated
Derivative [Line Items]
Notional Amount	1,185	1,058
Derivative, Fair Value, Net	(22)	17
Designated | Other current assets
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset	13	24
Designated | Other noncurrent assets
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset	1	4
Designated | Other current liabilities
Derivative [Line Items]
Derivative Liability, Fair Value, Gross Liability	(35)	(9)
Designated | Other noncurrent liabilities
Derivative [Line Items]
Derivative Liability, Fair Value, Gross Liability	(1)	(2)
Non-Designated
Derivative [Line Items]
Notional Amount	3,488	2,841
Derivative, Fair Value, Net	19	10
Non-Designated | Other current assets
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset	24	17
Non-Designated | Other noncurrent assets
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset	0	0
Non-Designated | Other current liabilities
Derivative [Line Items]
Derivative Liability, Fair Value, Gross Liability	(5)	(7)
Non-Designated | Other noncurrent liabilities
Derivative [Line Items]
Derivative Liability, Fair Value, Gross Liability	$ 0	$ 0

Derivative Instruments (Income

Derivative Instruments (Income Statement Location) (Details) - Foreign Exchange Contract - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Foreign Currency Transaction Gain (Loss), before Tax	$ (1)	$ (8)	$ (13)	$ (10)
Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Foreign Currency Transaction Gain (Loss), before Tax	1	(3)	(7)	5
Other income (expense), net
Derivative Instruments, Gain (Loss) [Line Items]
Foreign Currency Transaction Gain (Loss), before Tax	$ (2)	$ (5)	$ (6)	$ (15)

Derivative Instruments (Designa

Derivative Instruments (Designated Interest Rate Hedge) (Details) - Interest rate swap liability - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Asset	$ 0	$ 0
Other noncurrent assets
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Asset, Fair Value, Gross Asset	10	9
Long-term Debt
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Asset, Fair Value, Gross Liability	(10)	(9)
Designated as Hedging Instrument | Fair Value Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Notional Amount	$ 500	$ 500

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Marketable Securities, Gain (Loss)	$ 15	$ 7	$ 38	$ 19
Corporate and asset-backed debt securities | Standard & Poor's, A Rating
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Percentage Of Company's Investments With Credit Quality Rating Less Than Single A And A2			1.00%
Corporate and asset-backed debt securities | Moody's, A Rating
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Percentage Of Company's Investments With Credit Quality Rating Less Than Single A And A2			1.00%
Corporate and asset-backed debt securities | Fitch, A Rating
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
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 ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 2,592	$ 3,316	$ 2,953	$ 3,379
Assets
Available-for-sale Securities, Current	97	68
Investments Fair Value Disclosure	2,891	3,580
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration [Abstract]
Financial and Nonfinancial Liabilities, Fair Value Disclosure	188	198
Interest Rate Swap [Member]
Assets
Derivative Asset	0	0
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	2,592	3,316
Assets
Investments Fair Value Disclosure	2,706	3,410
Deferred compensation arrangements	114	94
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration [Abstract]
Financial and Nonfinancial Liabilities, Fair Value Disclosure	114	94
Fair Value, Inputs, Level 1 | Trading marketable securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading marketable securities	114	94
Fair Value, Inputs, Level 2
Assets
Investments Fair Value Disclosure	185	170
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration [Abstract]
Financial and Nonfinancial Liabilities, Fair Value Disclosure	41	18
Fair Value, Inputs, Level 2 | Foreign currency exchange forward contracts
Assets
Derivative Asset	38	45
Liabilities
Foreign currency exchange forward contracts	41	18
Fair Value, Inputs, Level 2 | Interest Rate Swap [Member]
Assets
Derivative Asset	50	57
Fair Value, Inputs, Level 2 | Available-for-sale marketable securities:
Assets
Available-for-sale Securities, Current	97	68
Fair Value, Inputs, Level 2 | Available-for-sale marketable securities: | Corporate and asset-backed debt securities
Assets
Available-for-sale Securities, Current	33	25
Fair Value, Inputs, Level 2 | Available-for-sale marketable securities: | United States agency debt securities
Assets
Available-for-sale Securities, Current	19	9
Fair Value, Inputs, Level 2 | Available-for-sale marketable securities: | United States Treasury debt securities
Assets
Available-for-sale Securities, Current	24	16
Fair Value, Inputs, Level 2 | Available-for-sale marketable securities: | Certificates of deposit
Assets
Available-for-sale Securities, Current	21	18
Fair Value, Inputs, Level 3
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration [Abstract]
Beginning	86	56
Additions	5	49
Change in estimate	(2)	(7)
Settlements	(56)	(12)
Ending	33	86
Financial and Nonfinancial Liabilities, Fair Value Disclosure	$ 33	$ 86

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 ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Estimated fair value due in one year or less	$ 50	$ 36
Estimated fair value due after one year through three years	$ 47	$ 32

Fair Value Measurements (Unreal

Fair Value Measurements (Unrealized Losses And Fair Value Of Investments With Unrealized Losses) (Details) $ in Millions	Sep. 30, 2017USD ($)investment
Number of Investments | investment	62
Fair Value | $	$ 54
Corporate and asset-backed debt securities
Number of Investments | investment	25
Fair Value | $	$ 9
United States agency debt securities
Number of Investments | investment	15
Fair Value | $	$ 18
United States Treasury debt securities
Number of Investments | investment	16
Fair Value | $	$ 24
Certificates of deposit
Number of Investments | investment	6
Fair Value | $	$ 3

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) - USD ($) $ in Millions	1 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2017	Apr. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Business Acquisition [Line Items]
Acquisitions, net of cash acquired			$ 712	$ 4,296
NOVADAQ
Business Acquisition [Line Items]
Total consideration	$ 716		716
Sage Products
Business Acquisition [Line Items]
Total consideration		$ 2,875			$ 2,875
Goodwill, Purchase Accounting Adjustments					30
Physio Acquisition
Business Acquisition [Line Items]
Total consideration					1,299
Goodwill, Purchase Accounting Adjustments					19
Acquisitions, net of cash acquired		$ 1,299
Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Total consideration			$ 43		356
Goodwill, Purchase Accounting Adjustments					$ 11

Acquisitions (Allocation Of The

Acquisitions (Allocation Of The Preliminary Purchase Price To The Acquired Net Assets (Details) - USD ($) $ in Millions	1 Months Ended		9 Months Ended	12 Months Ended
	Sep. 30, 2017	Apr. 30, 2016	Sep. 30, 2017	Dec. 31, 2016
Goodwill	$ 7,026		$ 7,026	$ 6,356
NOVADAQ
Purchase price paid			716
Contingent consideration	0		0
Loss on settlement of pre-existing contract			0
Total consideration	716		716
Cash	42		42
Accounts receivable	20		20
Inventory	22		22
Other assets	26		26
Liabilities	(54)		(54)
Goodwill	502		502
Assets and liabilities acquired, net	716		$ 716
Weighted-average life of intangible assets			15 years
NOVADAQ | Customer relationship
Intangible assets acquired	18		$ 18
NOVADAQ | Trade name
Intangible assets acquired	1		1
NOVADAQ | Developed technology and patents
Intangible assets acquired	139		139
NOVADAQ | Non-compete
Intangible assets acquired	0		0
NOVADAQ | IPR&D
Intangible assets acquired	0		0
Other
Purchase price paid			38	348
Contingent consideration	5		5	27
Loss on settlement of pre-existing contract			0	(19)
Total consideration			43	356
Cash	0		0	1
Accounts receivable	1		1	17
Inventory	2		2	5
Other assets	1		1	22
Liabilities	(2)		(2)	(37)
Goodwill	8		8	199
Assets and liabilities acquired, net	43		$ 43	$ 357
Weighted-average life of intangible assets			15 years	12 years
Other | Customer relationship
Intangible assets acquired	0		$ 0	$ 12
Other | Trade name
Intangible assets acquired	0		0	10
Other | Developed technology and patents
Intangible assets acquired	33		33	119
Other | Non-compete
Intangible assets acquired	0		0	2
Other | IPR&D
Intangible assets acquired	$ 0		$ 0	7
Sage Products
Purchase price paid				2,870
Contingent consideration				5
Loss on settlement of pre-existing contract				0
Total consideration		$ 2,875		2,875
Cash				91
Accounts receivable				29
Inventory				63
Other assets				80
Liabilities				(83)
Goodwill				1,522
Assets and liabilities acquired, net				$ 2,875
Weighted-average life of intangible assets				15 years
Sage Products | Customer relationship
Intangible assets acquired				$ 930
Sage Products | Trade name
Intangible assets acquired				70
Sage Products | Developed technology and patents
Intangible assets acquired				173
Sage Products | Non-compete
Intangible assets acquired				0
Sage Products | IPR&D
Intangible assets acquired				0
Physio Acquisition
Purchase price paid				1,299
Contingent consideration				0
Loss on settlement of pre-existing contract				0
Total consideration				1,299
Cash				32
Accounts receivable				107
Inventory				61
Other assets				103
Liabilities				(364)
Goodwill				623
Assets and liabilities acquired, net				$ 1,299
Weighted-average life of intangible assets				14 years
Physio Acquisition | Customer relationship
Intangible assets acquired				$ 344
Physio Acquisition | Trade name
Intangible assets acquired				160
Physio Acquisition | Developed technology and patents
Intangible assets acquired				226
Physio Acquisition | Non-compete
Intangible assets acquired				0
Physio Acquisition | IPR&D
Intangible assets acquired				$ 7

Acquisitions (Future Amortizati

Acquisitions (Future Amortization Expense) (Details) $ in Millions	Sep. 30, 2017USD ($)
Business Combinations [Abstract]
Remainder of 2017	$ 90
2,018	372
2,019	348
2,020	329
2,021	$ 319

Contingencies and Commitments (

Contingencies and Commitments (Narrative) (Details) $ in Millions	Jul. 18, 2017USD ($)	Jul. 12, 2017USD ($)	Jun. 30, 2015USD ($)	Apr. 30, 2011patent	Sep. 30, 2017USD ($)	Sep. 30, 2017USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2010patent
Rejuvenate and ABG II Voluntary Recall
Loss Contingencies [Line Items]
Insurance Recoveries						$ 232
Rejuvenate and ABG II Voluntary Recall
Loss Contingencies [Line Items]
Gain (Loss) Related to Litigation Settlement					$ 35	104
Rejuvenate and ABG II Voluntary Recall | Minimum | Insurance Settlement
Loss Contingencies [Line Items]
Loss Contingency, Estimate of Possible Loss					2,072	2,072
Rejuvenate and ABG II Voluntary Recall | Maximum | Insurance Settlement
Loss Contingencies [Line Items]
Loss Contingency, Estimate of Possible Loss					$ 2,327	$ 2,327
Zimmer Product Infringement
Loss Contingencies [Line Items]
Gain (Loss) Related to Litigation Settlement			$ 54
Gain Contingency, Patents Allegedly Infringed upon, Number | patent								3
Loss Contingency, Damages Awarded, Value		$ 164					$ 76
Hill-Rom Company
Loss Contingencies [Line Items]
Loss Contingency, Patents Allegedly Infringed, Number | patent				9
Payments for Legal Settlements	$ 15

Debt and Credit Facilities (Det

Debt and Credit Facilities (Details) - USD ($) $ in Millions	1 Months Ended	9 Months Ended
	Jan. 31, 2017	Sep. 30, 2017	Dec. 31, 2016
Proceeds from Issuance of Debt	$ 500
Commercial Paper		$ 0	$ 200
Total debt		7,225	6,914
Less current maturities		632	228
Long-term debt, excluding current maturities		6,593	6,686
Unamortized debt issuance costs		41	45
Available borrowing capacity		1,542	1,551
Fair value of debt		$ 7,446	6,762
Commercial Paper
Debt Instrument, Maturity		397 days
Commercial Paper | Maximum
Commercial paper		$ 1,500
Senior Unsecured Notes 1.30% due 2018
Debt Instrument, Interest Rate, Stated Percentage		1.30%
Debt Instrument, Maturity Date		Apr. 1, 2018
Unsecured Debt		$ 599	598
Senior Unsecured Notes 1.800% due 2019
Debt Instrument, Interest Rate, Stated Percentage	1.80%	1.80%
Debt Instrument, Maturity Date		Jan. 15, 2019
Unsecured Debt		$ 499	0
Senior Unsecured Notes 2.000% due 2019
Debt Instrument, Interest Rate, Stated Percentage		2.00%
Debt Instrument, Maturity Date		Mar. 8, 2019
Unsecured Debt		$ 747	746
Senior Unsecured Notes 4.375% Due 2020
Debt Instrument, Interest Rate, Stated Percentage		4.375%
Debt Instrument, Maturity Date		Jan. 15, 2020
Unsecured Debt		$ 498	497
Senior Unsecured Notes 2.625% due 2021
Debt Instrument, Interest Rate, Stated Percentage		2.625%
Debt Instrument, Maturity Date		Mar. 15, 2021
Unsecured Debt		$ 746	745
Senior Unsecured Notes 3.375% due 2024
Debt Instrument, Interest Rate, Stated Percentage		3.375%
Debt Instrument, Maturity Date		May 15, 2024
Unsecured Debt		$ 603	602
Senior Unsecured Notes 3.375% due 2025
Debt Instrument, Interest Rate, Stated Percentage		3.375%
Debt Instrument, Maturity Date		Nov. 1, 2025
Unsecured Debt		$ 745	744
Senior Unsecured Notes 3.50% due 2026
Debt Instrument, Interest Rate, Stated Percentage		3.50%
Debt Instrument, Maturity Date		Mar. 15, 2026
Unsecured Debt		$ 988	987
Senior Unsecured Notes 4.10% due 2043
Debt Instrument, Interest Rate, Stated Percentage		4.10%
Debt Instrument, Maturity Date		Apr. 1, 2043
Unsecured Debt		$ 391	391
Senior Unsecured Notes 4.375% due 2044
Debt Instrument, Interest Rate, Stated Percentage		4.375%
Debt Instrument, Maturity Date		May 15, 2044
Unsecured Debt		$ 394	395
Senior Unsecured Notes 4.625% due 2046
Debt Instrument, Interest Rate, Stated Percentage		4.625%
Debt Instrument, Maturity Date		Mar. 15, 2046
Unsecured Debt		$ 980	979
Other Debt
Unsecured Debt		$ 35	$ 30

Capital Stock (Narrative) (Deta

Capital Stock (Narrative) (Details) - USD ($) $ / shares in Units, shares in Millions	1 Months Ended				9 Months Ended
	Aug. 31, 2017	May 31, 2017	Feb. 28, 2017	Jan. 31, 2017	Sep. 30, 2017	Sep. 30, 2016	Mar. 31, 2015
Class of Stock Disclosures [Abstract]
Cash dividends declared, per share of common stock	$ 0.425	$ 0.425	$ 0.425		$ 1.275
Stock Repurchased During Period, Shares				1.9
Payments for Repurchase of Common Stock				$ 230,000,000	$ 230,000,000	$ 13,000,000
2015 $2 Billion Repurchase Agreement
Stock Repurchase Program, Authorized Amount							$ 2,000,000,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount					$ 1,640,000,000

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2017Rate	Sep. 30, 2016Rate	Sep. 30, 2017Rate	Sep. 30, 2016Rate
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	7.90%	15.20%	10.30%	14.70%

Segment Information (Sales And

Segment Information (Sales And Other Financial Information By Business Segment) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Net sales	$ 3,006	$ 2,833	$ 8,973	$ 8,168
Segment operating income	523	486	1,578	1,505
Amortization of intangible assets	(92)	(89)	(275)	(230)
Operating Segments
Net sales	3,006	2,833	8,973	8,168
Segment operating income	817	794	2,460	2,272
Operating Segments | Orthopaedics
Net sales	1,132	1,077	3,408	3,216
Segment operating income	389	383	1,175	1,152
Operating Segments | MedSurg
Net sales	1,336	1,253	3,977	3,469
Segment operating income	271	269	840	714
Operating Segments | Neurotechnology and Spine
Net sales	538	503	1,588	1,483
Segment operating income	157	142	445	406
Corporate and other
Segment operating income	(89)	(88)	(265)	(258)
Segment Reconciling Items
Acquisition and integration-related charges	(11)	(49)	(29)	(120)
Amortization of intangible assets	(92)	(89)	(275)	(230)
Restructuring-related charges	(36)	(25)	(119)	(67)
Rejuvenate and ABG II and other recalls	(66)	(57)	(164)	(104)
Legal matters	$ 0	$ 0	$ (30)	$ 12