Amgen (AMGN) 10-Q 5 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 28, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	Amgen Inc.
Entity Central Index Key	318,154
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		758,250,346

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenues:
Product sales	$ 5,225	$ 4,949	$ 10,099	$ 9,305
Other revenues	145	231	304	396
Total revenues	5,370	5,180	10,403	9,701
Operating expenses:
Cost of sales	1,089	1,081	2,122	2,171
Research and development	964	1,018	1,858	2,045
Selling, general and administrative	1,160	1,136	2,186	2,159
Other	81	43	139	60
Total operating expenses	3,294	3,278	6,305	6,435
Operating income	2,076	1,902	4,098	3,266
Interest expense, net	277	282	529	541
Interest and other income, net	198	138	304	237
Income before income taxes	1,997	1,758	3,873	2,962
Provision for income taxes	344	211	597	342
Net income	$ 1,653	$ 1,547	$ 3,276	$ 2,620
Earnings per share:
Basic (in usd per share)	$ 2.18	$ 2.04	$ 4.30	$ 3.46
Diluted (in usd per share)	$ 2.15	$ 2.01	$ 4.26	$ 3.41
Shares used in calculation of earnings per share:
Basic (in shares)	760	759	761	758
Diluted (in shares)	768	768	769	768
Dividends paid per share (in usd per share)	$ 0.79	$ 0.61	$ 1.58	$ 1.22

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 1,653	$ 1,547	$ 3,276	$ 2,620
Other comprehensive income (loss), net of reclassification adjustments and taxes:
Foreign currency translation gains (losses)	18	7	(155)	(1)
Effective portion of cash flow hedges	(115)	(25)	63	(23)
Net unrealized (losses) gains on available-for-sale securities	(108)	21	32	61
Other	0	0	0	1
Other comprehensive (loss) income, net of tax	(205)	3	(60)	38
Comprehensive income	$ 1,448	$ 1,550	$ 3,216	$ 2,658

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 3,795	$ 3,731
Marketable securities	26,198	23,295
Trade receivables, net	2,779	2,546
Inventories	2,567	2,647
Other current assets	2,397	2,494
Total current assets	37,736	34,713
Property, plant and equipment, net	5,050	5,223
Intangible assets, net	11,988	12,693
Goodwill	14,723	14,788
Other assets	1,712	1,592
Total assets	71,209	69,009
Current liabilities:
Accounts payable	934	1,212
Accrued liabilities	4,707	5,296
Current portion of long-term debt	1,250	500
Total current liabilities	6,891	7,008
Long-term debt	30,702	30,215
Long-term deferred tax liability	3,227	3,461
Other noncurrent liabilities	$ 2,905	$ 2,547
Contingencies and commitments
Stockholders’ equity:
Common stock and additional paid-in capital; $0.0001 par value; 2,750.0 shares authorized; outstanding - 759.1 shares in 2015 and 760.4 shares in 2014	$ 30,464	$ 30,410
Accumulated deficit	(2,912)	(4,624)
Accumulated other comprehensive loss	(68)	(8)
Total stockholders’ equity	27,484	25,778
Total liabilities and stockholders’ equity	$ 71,209	$ 69,009

Condensed Consolidated Balance5

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Common stock and additional paid-in capital, par value (in usd per share)	$ 0.0001	$ 0.0001
Common stock and additional paid-in capital, shares authorized	2,750,000,000	2,750,000,000
Common stock and additional paid-in capital, shares outstanding	759,100,000	760,400,000

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net income	$ 3,276	$ 2,620
Depreciation and amortization	1,043	1,024
Stock-based compensation expense	160	199
Deferred income taxes	(126)	108
Other items, net	(228)	(107)
Changes in operating assets and liabilities, net of acquisitions:
Trade receivables, net	(199)	0
Inventories	196	40
Other assets	85	(11)
Accounts payable	(269)	125
Accrued income taxes	369	(131)
Other liabilities	(164)	(498)
Net cash provided by operating activities	4,143	3,369
Cash flows from investing activities:
Purchases of property, plant and equipment	(251)	(345)
Proceeds from sale of property, plant and equipment	226	0
Cash paid for acquisitions, net of cash acquired	0	(115)
Purchases of marketable securities	(13,530)	(15,593)
Proceeds from sales of marketable securities	8,021	9,137
Proceeds from maturities of marketable securities	2,500	3,295
Change in restricted investments	0	533
Other	(277)	(135)
Net cash used in investing activities	(3,311)	(3,223)
Cash flows from financing activities:
Net proceeds from issuance of debt	3,464	4,476
Repayment of debt	(2,150)	(3,355)
Repurchases of common stock	(940)	0
Dividends paid	(1,201)	(923)
Net proceeds from issuance of common stock in connection with the Company’s equity award programs	52	99
Settlement of contingent consideration obligation	(225)	0
Other	232	104
Net cash (used in) provided by financing activities	(768)	401
Increase in cash and cash equivalents	64	547
Cash and cash equivalents at beginning of period	3,731	3,805
Cash and cash equivalents at end of period	$ 3,795	$ 4,352

Summary of significant accounti

Summary of significant accounting policies	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Summary of significant accounting policies	Summary of significant accounting policies Business Amgen Inc. (including its subsidiaries, referred to as “Amgen,” “the Company,” “we,” “our” or “us”) is a global biotechnology pioneer that discovers, develops, manufactures and delivers innovative human therapeutics. We operate in one business segment: human therapeutics. Basis of presentation The financial information for the three and six months ended June 30, 2015 and 2014 , is unaudited but includes all adjustments (consisting of only normal recurring adjustments, unless otherwise indicated), which Amgen considers necessary for a fair presentation of its condensed consolidated results of operations for those periods. Interim results are not necessarily indicative of results for the full fiscal year. The condensed consolidated financial statements should be read in conjunction with our consolidated financial statements and the notes thereto contained in our Annual Report on Form 10-K for the year ended December 31, 2014 , and with our condensed consolidated financial statements and the notes thereto contained in our Quarterly Report on Form 10-Q for the period ended March 31, 2015 . Principles of consolidation The condensed consolidated financial statements include the accounts of Amgen as well as its majority-owned subsidiaries. We do not have any significant interests in any variable interest entities. All material intercompany transactions and balances have been eliminated in consolidation. Use of estimates The preparation of condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States (GAAP) requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results may differ from those estimates. Property, plant and equipment, net Property, plant and equipment is recorded at historical cost, net of accumulated depreciation and amortization of $7.3 billion and $7.0 billion as of June 30, 2015 , and December 31, 2014 , respectively. Recent accounting pronouncements In May 2014, a new accounting standard was issued that amends the guidance for the recognition of revenue from contracts with customers to transfer goods and services. This new standard, as originally issued, would be effective for interim and annual periods beginning January 1, 2017, and would be required to be adopted using either a full retrospective or a modified retrospective approach, with early adoption not permitted. In July 2015, the Financial Accounting Standards Board voted to delay the required date of adoption of this standard by one year and allow early adoption, but not before the original effective date of January 1, 2017. We are currently evaluating the impact that this new standard will have on our consolidated financial statements. In April 2015, a new accounting standard was issued that amends the presentation for debt issuance costs. Upon adoption of the standard, such costs shall be presented on our consolidated balance sheets as a direct deduction from the carrying amount of the related debt liability and not as a deferred charge presented in Other assets on our consolidated balance sheets. This new standard will be effective for interim and annual periods beginning on January 1, 2016, and is required to be retrospectively adopted. Adoption of this new standard is not expected to have a material impact on our consolidated balance sheets or related disclosures.

Restructuring

Restructuring	6 Months Ended
	Jun. 30, 2015
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring During the second half of 2014, we initiated a restructuring plan to invest in continuing innovation and the launch of our new pipeline molecules, while improving our cost structure. As part of the plan, we are closing our facilities in Washington State and Colorado and reducing the number of buildings we occupy at our headquarters in Thousand Oaks, California, as well as at other locations. We continue to estimate that $935 million to $1,035 million of pre-tax charges will be incurred in connection with our restructuring plan, including: (i) separation and other headcount-related costs of $535 million to $585 million with respect to staff reductions, and (ii) asset-related charges of $400 million to $450 million consisting primarily of asset impairments, accelerated depreciation and other related costs resulting from the consolidation of our worldwide facilities. A total of $478 million of separation and other headcount-related costs and $235 million of asset-related charges were incurred through June 30, 2015 . During the three and six months ended June 30, 2015 , we incurred $63 million and $155 million , respectively, of restructuring costs. We expect that most of the remaining estimated costs, as discussed above, will be incurred during the remainder of 2015 to support our ongoing transformation and process improvement efforts. The following tables summarize recorded charges related to the restructuring plan by type of activity and the locations recognized within the Condensed Consolidated Statements of Income (in millions): Three months ended June 30, 2015 Separation costs Asset impairments Accelerated depreciation Other Total Cost of sales $ — $ — $ 13 $ 2 $ 15 Research and development — — 7 11 18 Selling, general and administrative — — 5 15 20 Other 7 — — 3 10 Total $ 7 $ — $ 25 $ 31 $ 63 Six months ended June 30, 2015 Separation costs Asset impairments Accelerated depreciation Other Total Cost of sales $ — $ — $ 26 $ 3 $ 29 Research and development — — 21 14 35 Selling, general and administrative — — 6 18 24 Other 55 — — 12 67 Total $ 55 $ — $ 53 $ 47 $ 155 Asset impairment and accelerated depreciation charges were recognized in connection with our decision to exit Boulder and Longmont, Colorado, Bothell and Seattle, Washington and the consolidation of facilities in Thousand Oaks, California. The decision to close these manufacturing and research and development (R&D) facilities was based principally on optimizing the utilization of our sites in the United States, which includes an expansion of our presence in the key U.S. biotechnology hubs of South San Francisco, California and Cambridge, Massachusetts. The following table summarizes the charges (excluding non-cash items) and payments related to the restructuring plan (in millions): During the six months ended June 30, 2015 Separation costs Other Total Restructuring liabilities as of December 31, 2014 $ 221 $ 23 $ 244 Expense 56 39 95 Payments (145 ) (35 ) (180 ) Restructuring liabilities as of June 30, 2015 $ 132 $ 27 $ 159

Income taxes

Income taxes	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income taxes	Income taxes The effective tax rates for the three and six months ended June 30, 2015, were 17.2% and 15.4% , respectively, compared with 12.0% and 11.5% for the corresponding periods of the prior year. The effective rates are different from the federal statutory rates primarily as a result of indefinitely reinvested earnings of our foreign operations. We do not provide for U.S. income taxes on undistributed earnings of our foreign operations that are intended to be invested indefinitely outside of the United States. In addition, the effective tax rates for the three and six months ended June 30, 2015 and 2014, were reduced by foreign tax credits associated with the Puerto Rico excise tax described below. The increase in our effective tax rate for the three months ended June 30, 2015, was due primarily to the unfavorable tax impact of changes in the jurisdictional mix of income and expenses. The increase in our effective tax rate for the six months ended June 30, 2015, was due primarily to the unfavorable tax impact of changes in the jurisdictional mix of income and expenses, offset partially by a state tax audit settlement in the three months ended March 31, 2015. Puerto Rico imposes an excise tax on the gross intercompany purchase price of goods and services from our manufacturing subsidiary in Puerto Rico. The rate is 4.0% effective July 1, 2013, through December 31, 2017. We account for the excise tax as a manufacturing cost that is capitalized in inventory and expensed in cost of sales when the related products are sold. For U.S. income tax purposes, the excise tax results in foreign tax credits that are generally recognized in our provision for income taxes when the excise tax is incurred. One or more of our legal entities file income tax returns in the U.S. federal jurisdiction, various U.S. state jurisdictions and certain foreign jurisdictions. Our income tax returns are routinely audited by the tax authorities in those jurisdictions. Significant disputes may arise with these tax authorities involving issues of the timing and amount of income and deductions, the use of tax credits and the allocations of income among various tax jurisdictions because of differing interpretations of tax laws and regulations. We are no longer subject to U.S. federal income tax examinations for years ended on or before December 31, 2009, or to California state income tax examinations for years ended on or before December 31, 2008. During the three and six months ended June 30, 2015, the gross amount of our unrecognized tax benefits (UTBs) increased by approximately $110 million and $210 million , respectively, as a result of tax positions taken during the current year. The UTB balance decreased by approximately $70 million during the six months ended June 30, 2015, due to state tax audit settlements. Substantially all of the UTBs as of June 30, 2015, if recognized, would affect our effective tax rate.

Earnings per share

Earnings per share	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Earnings per share	Earnings per share The computation of basic earnings per share (EPS) is based on the weighted-average number of our common shares outstanding. The computation of diluted EPS is based on the weighted-average number of our common shares outstanding and dilutive potential common shares, which include principally shares that may be issued under our stock option awards and restricted stock and performance unit awards, determined using the treasury stock method (collectively “dilutive securities”). The computations for basic and diluted EPS were as follows (in millions, except per share data): Three months ended Six months ended June 30, June 30, 2015 2014 2015 2014 Income (Numerator): Net income for basic and diluted EPS $ 1,653 $ 1,547 $ 3,276 $ 2,620 Shares (Denominator): Weighted-average shares for basic EPS 760 759 761 758 Effect of dilutive securities 8 9 8 10 Weighted-average shares for diluted EPS 768 768 769 768 Basic EPS $ 2.18 $ 2.04 $ 4.30 $ 3.46 Diluted EPS $ 2.15 $ 2.01 $ 4.26 $ 3.41 For the three and six months ended June 30, 2015 and 2014 , the number of anti-dilutive employee stock-based awards excluded from the computation of diluted EPS was not significant.

Collaborative arrangements

Collaborative arrangements	6 Months Ended
	Jun. 30, 2015
Collaborative Arrangements [Abstract]
Collaborative arrangements	Collaborative arrangements A collaborative arrangement is a contractual arrangement that involves a joint operating activity. These arrangements involve two or more parties who are both: (i) active participants in the activity; and (ii) exposed to significant risks and rewards dependent on the commercial success of the activity. From time to time, we enter into collaborative arrangements for the R&D, manufacture and/or commercialization of products and/or product candidates. These collaborations generally provide for non-refundable upfront license fees, development and commercial performance milestone payments, cost sharing, royalty payments and/or profit sharing. Our collaboration agreements are performed with no guarantee of either technological or commercial success and each is unique in nature. Below are our significant arrangements which have had material changes in their terms since the filing of our Annual Report on Form 10-K for the year ended December 31, 2014. AstraZeneca Plc. We are in a collaboration with AstraZeneca Plc. (AstraZeneca) to jointly develop and commercialize certain antibodies from Amgen's clinical inflammation portfolio, including AMG 157, AMG 181, AMG 557 and AMG 570. The agreement covers the worldwide development and commercialization of these antibodies, except for AMG 557 and AMG 570 in Japan. AMG 139 and brodalumab were formerly part of the collaboration in certain territories. As of April 1, 2015, we have suspended our participation in the co-development and commercialization of AMG 139, with the option of resuming such participation at a later date. As of May 22, 2015, we have commenced termination of our participation in the co-development and commercialization of brodalumab base d on events of suicidal ideation and behavior in the program. Under the terms of the agreement, approximately 65% of related development costs for the 2012-2014 periods were funded by AstraZeneca; beginning in 2015, the companies share costs equally. For each remaining collaboration product approved for sale, Amgen would receive a mid-single-digit royalty, after which the worldwide commercialization profits and losses related to such remaining collaboration products would be shared equally. During the three months ended June 30, 2015 and 2014, cost recoveries recognized for development costs, which included brodalumab and AMG 139, were $3 million and $39 million , respectively, which were included in Research and development expense in the Condensed Consolidated Statements of Income. During the six months ended June 30, 2015 and 2014, the cost recoveries were $23 million and $49 million , respectively. After Amgen's participation in the brodalumab program terminates under the agreement, which is expected to occur in the third quarter of 2015, the clinical development and commercialization of brodalumab will be at the sole discretion and expense of AstraZeneca. If AstraZeneca commercializes brodalumab, Amgen would receive a mid-single-digit to low-double-digit royalty on net sales of brodalumab. The collaboration agreement will continue in effect unless terminated in accordance with its terms. Bayer HealthCare Pharmaceuticals Inc. We are in a collaboration with Bayer HealthCare Pharmaceuticals Inc. (Bayer) to jointly develop and commercialize Nexavar ® (sorafenib) worldwide, except in Japan. The rights to develop and market Nexavar ® in Japan are reserved to Bayer. Bayer has no obligation to pay royalties to Amgen for sales of Nexavar ® in Japan. Nexavar ® is currently marketed and sold in more than 100 countries around the world for the treatment of unresectable liver cancer and advanced kidney cancer. In the United States, Nexavar ® is also approved for the treatment of patients with locally recurrent or metastatic, progressive, differentiated thyroid carcinoma refractory to radioactive iodine treatment. In May 2015, we and Bayer amended the terms of the collaboration, which terminated the co-promotion agreement in the United States. The termination was effective as of June 30, 2015 and transferred all U.S. operational responsibilities to Bayer, including commercial and medical affairs activities. Prior to the termination of the co-promotion agreement, we co-promoted Nexavar ® with Bayer and shared equally in the profits or losses in the United States. In lieu of this profit share, Bayer will now pay Amgen a royalty on U.S. sales of Nexavar ® at a percentage rate in the high 30 s. Amgen will no longer contribute sales force personnel or medical liaisons to support Nexavar ® in the United States. There are no changes to the global research and development or non-U.S. profit share arrangements in the original agreement, as discussed below. In all countries outside of the United States, excluding Japan, Bayer manages all commercialization activities and incurs all of the sales and marketing expenditures and mutually agreed R&D expenses, for which we continue to reimburse Bayer for half. In these countries, we continue to receive 50% of net profits on sales of Nexavar ® after deducting certain Bayer-related costs. The collaboration with Bayer will terminate at the later of the date when patents expire that were issued in connection with product candidates discovered under the agreement, or on the last day when we or Bayer market or sell collaboration products anywhere in the world. The amendment to the collaboration is not expected to have a material impact on our consolidated results of operations. Prior to the amendment, Amgen was acting as an agent under the collaboration and as such, revenue was derived by calculating net sales of Nexavar ® to third-party customers and deducting the cost of goods sold, distribution costs, marketing costs, phase 4 clinical trial costs, allocable overhead costs and certain other costs. During the three months ended June 30, 2015 and 2014, Amgen recorded net Nexavar ® collaboration profits of $84 million and $87 million , respectively, which were recognized as Other revenues in the Condensed Consolidated Statements of Income. During the six months ended June 30, 2015 and 2014, the net collaboration profits were $156 million and $165 million , respectively. In addition, during the three months ended June 30, 2015 and 2014, net R&D expenses related to the collaboration were $7 million and $10 million , respectively, which were recognized in the Condensed Consolidated Statements of Income. During the six months ended June 30, 2015 and 2014, the net R&D expenses were $12 million and $21 million , respectively.

Available-for-sale investments

Available-for-sale investments	6 Months Ended
	Jun. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Available-for-sale investments	Available-for-sale investments The amortized cost, gross unrealized gains, gross unrealized losses and estimated fair values of available-for-sale investments by type of security were as follows (in millions): Type of security as of June 30, 2015 Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value U.S. Treasury securities $ 3,604 $ 14 $ (8 ) $ 3,610 Other government-related debt securities: U.S. 551 1 (1 ) 551 Foreign and other 1,718 19 (14 ) 1,723 Corporate debt securities: Financial 7,425 22 (21 ) 7,426 Industrial 7,657 27 (55 ) 7,629 Other 830 3 (4 ) 829 Residential mortgage-backed securities 1,498 7 (8 ) 1,497 Other mortgage- and asset-backed securities 2,053 1 (40 ) 2,014 Money market mutual funds 2,951 — — 2,951 Other short-term interest-bearing securities 1,284 — — 1,284 Total interest-bearing securities 29,571 94 (151 ) 29,514 Equity securities 97 82 (4 ) 175 Total available-for-sale investments $ 29,668 $ 176 $ (155 ) $ 29,689 Type of security as of December 31, 2014 Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value U.S. Treasury securities $ 3,632 $ 22 $ (8 ) $ 3,646 Other government-related debt securities: U.S. 530 1 (3 ) 528 Foreign and other 1,572 21 (24 ) 1,569 Corporate debt securities: Financial 6,036 21 (16 ) 6,041 Industrial 6,394 23 (66 ) 6,351 Other 650 3 (4 ) 649 Residential mortgage-backed securities 1,708 4 (10 ) 1,702 Other mortgage- and asset-backed securities 1,837 — (41 ) 1,796 Money market mutual funds 3,004 — — 3,004 Other short-term interest-bearing securities 1,302 — — 1,302 Total interest-bearing securities 26,665 95 (172 ) 26,588 Equity securities 98 48 (2 ) 144 Total available-for-sale investments $ 26,763 $ 143 $ (174 ) $ 26,732 The fair values of available-for-sale investments by classification in the Condensed Consolidated Balance Sheets were as follows (in millions): Classification in the Condensed Consolidated Balance Sheets June 30, December 31, Cash and cash equivalents $ 3,316 $ 3,293 Marketable securities 26,198 23,295 Other assets — noncurrent 175 144 Total available-for-sale investments $ 29,689 $ 26,732 Cash and cash equivalents in the table above excludes cash of $479 million and $438 million as of June 30, 2015 , and December 31, 2014 , respectively. The fair values of available-for-sale interest-bearing security investments by contractual maturity, except for mortgage- and asset-backed securities that do not have a single maturity date, were as follows (in millions): Contractual maturity June 30, December 31, Maturing in one year or less $ 4,701 $ 4,936 Maturing after one year through three years 8,712 6,829 Maturing after three years through five years 8,900 7,840 Maturing after five years through ten years 3,468 3,267 Maturing after ten years 222 218 Mortgage- and asset-backed securities 3,511 3,498 Total interest-bearing securities $ 29,514 $ 26,588 For the three months ended June 30, 2015 and 2014 , realized gains totaled $18 million and $57 million , respectively, and realized losses totaled $27 million and $17 million , respectively. For the six months ended June 30, 2015 and 2014 , realized gains totaled $54 million and $85 million , respectively, and realized losses totaled $98 million and $43 million , respectively. The cost of securities sold is based on the specific identification method. The unrealized losses on available-for-sale investments and their related fair values were as follows (in millions): Less than 12 months 12 months or greater Type of security as of June 30, 2015 Fair value Unrealized losses Fair value Unrealized losses U.S. Treasury securities $ 1,522 $ (7 ) $ 30 $ (1 ) Other government-related debt securities: U.S. 275 (1 ) 20 — Foreign and other 701 (12 ) 71 (2 ) Corporate debt securities: Financial 3,539 (20 ) 156 (1 ) Industrial 4,364 (51 ) 307 (4 ) Other 358 (4 ) 24 — Residential mortgage-backed securities 464 (3 ) 305 (5 ) Other mortgage- and asset-backed securities 1,020 (11 ) 401 (29 ) Equity securities — — 2 (4 ) Total $ 12,243 $ (109 ) $ 1,316 $ (46 ) Less than 12 months 12 months or greater Type of security as of December 31, 2014 Fair value Unrealized losses Fair value Unrealized losses U.S. Treasury securities $ 1,770 $ (7 ) $ 171 $ (1 ) Other government-related debt securities: U.S. 160 — 178 (3 ) Foreign and other 514 (14 ) 159 (10 ) Corporate debt securities: Financial 3,150 (14 ) 158 (2 ) Industrial 3,931 (62 ) 222 (4 ) Other 354 (4 ) 5 — Residential mortgage-backed securities 614 (4 ) 413 (6 ) Other mortgage- and asset-backed securities 1,071 (8 ) 561 (33 ) Equity securities 5 (2 ) — — Total $ 11,569 $ (115 ) $ 1,867 $ (59 ) The primary objective of our investment portfolio is to enhance overall returns in an efficient manner while maintaining safety of principal, prudent levels of liquidity and acceptable levels of risk. Our investment policy limits interest-bearing security investments to certain types of debt and money market instruments issued by institutions with primarily investment-grade credit ratings and places restrictions on maturities and concentration by asset class and issuer. We review our available-for-sale investments for other-than-temporary declines in fair value below our cost basis each quarter and whenever events or changes in circumstances indicate that the cost basis of an asset may not be recoverable. This evaluation is based on a number of factors, including the length of time and the extent to which the fair value has been below our cost basis and adverse conditions related specifically to the security, including any changes to the credit rating of the security, and the intent to sell, or whether we will more likely than not be required to sell, the security before recovery of its amortized cost basis. Our assessment of whether a security is other-than-temporarily impaired could change in the future due to new developments or changes in assumptions related to any particular security. As of June 30, 2015 , and December 31, 2014 , we believe the cost bases for our available-for-sale investments were recoverable in all material respects.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consisted of the following (in millions): June 30, December 31, Raw materials $ 221 $ 198 Work in process 1,320 1,551 Finished goods 1,026 898 Total inventories $ 2,567 $ 2,647

Goodwill and other intangible a

Goodwill and other intangible assets	6 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and other intangible assets	Goodwill and other intangible assets Goodwill Changes in the carrying amounts of goodwill were as follows (in millions): Six months ended June 30, 2015 2014 Beginning balance $ 14,788 $ 14,968 Goodwill related to acquisitions of businesses (1) — (128 ) Currency translation adjustments (65 ) 4 Ending balance $ 14,723 $ 14,844 (1) Composed of goodwill recognized on the acquisition dates of business combinations and subsequent adjustments to these amounts resulting from changes to the acquisition date fair values of net assets acquired in the business combinations recorded during their respective measurement periods. Identifiable intangible assets Identifiable intangible assets consisted of the following (in millions): June 30, 2015 December 31, 2014 Gross carrying amount Accumulated amortization Intangible assets, net Gross carrying amount Accumulated amortization Intangible assets, net Finite-lived intangible assets: Developed product technology rights $ 10,796 $ (4,568 ) $ 6,228 $ 10,826 $ (4,155 ) $ 6,671 Licensing rights 3,283 (847 ) 2,436 3,236 (696 ) 2,540 R&D technology rights 1,143 (600 ) 543 1,167 (569 ) 598 Marketing-related rights 1,222 (582 ) 640 1,241 (512 ) 729 Total finite-lived intangible assets 16,444 (6,597 ) 9,847 16,470 (5,932 ) 10,538 Indefinite-lived intangible assets: In-process research and development 2,141 — 2,141 2,155 — 2,155 Total identifiable intangible assets $ 18,585 $ (6,597 ) $ 11,988 $ 18,625 $ (5,932 ) $ 12,693 Developed product technology rights consist of rights related to marketed products acquired in business combinations. Licensing rights are composed primarily of contractual rights acquired in business combinations to receive future milestones, royalties and profit sharing payments, capitalized payments to third parties for milestones related to regulatory approvals to commercialize products and up-front payments associated with royalty obligations for marketed products. R&D technology rights consist of technology used in R&D with alternative future uses. Marketing-related intangible assets are composed primarily of rights related to the sale and distribution of marketed products. In-process research and development (IPR&D) consists of R&D projects acquired in a business combination which are not complete due to remaining technological risks and/or lack of receipt of the required regulatory approvals. These projects include Kyprolis ® (carfilzomib) for Injection and oprozomib acquired in the acquisition of Onyx Pharmaceuticals Inc. (Onyx), AMG 416 acquired in the acquisition of KAI Pharmaceuticals and talimogene laherparepvec acquired in the acquisition of BioVex Group, Inc. (BioVex). The U.S. Food and Drug Administration (FDA) is reviewing our talimogene laherparepvec Biologics License Application (BLA) for the treatment of patients with injectable regionally or distantly metastatic melanoma. The Prescription Drug User Fee Act (PDUFA) target action date for completion of the FDA's review is October 27, 2015. As of June 30, 2015, the carrying value of the IPR&D for talimogene laherparepvec was $675 million . For all IPR&D projects, there are major risks and uncertainties associated with the timely and successful completion of development and commercialization of these product candidates, including our ability to confirm their safety and efficacy based on data from clinical trials, our ability to obtain necessary regulatory approvals and our ability to successfully complete these tasks within budgeted costs. We are not able to market a human therapeutic without obtaining regulatory approvals, and such approvals require completing clinical trials that demonstrate a product candidate is safe and effective. In addition, the availability and extent of coverage and reimbursement from third-party payers, including government healthcare programs and private insurance plans, impact the revenues a product can generate. Consequently, the eventual realized value, if any, of these acquired IPR&D projects may vary from their estimated fair values. IPR&D projects are reviewed annually for impairment and whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. For example, if the BLA for talimogene laherparepvec is not approved for treatment of patients with injectable regionally or distantly metastatic melanoma, we would be required to test the talimogene laherparepvec IPR&D asset for impairment again. During the three months ended June 30, 2015 and 2014 , we recognized amortization charges associated with our finite-lived intangible assets of $345 million and $341 million , respectively. During the six months ended June 30, 2015 and 2014 , we recognized amortization charges associated with our finite-lived intangible assets of $686 million and $698 million , respectively. The total estimated amortization charges for our finite-lived intangible assets for the six months ending December 31, 2015 , and the years ending December 31, 2016, 2017, 2018, 2019 and 2020, are $672 million , $1.3 billion , $1.2 billion , $1.0 billion , $948 million and $892 million , respectively.

Financing arrangements

Financing arrangements	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Financing arrangements	Financing arrangements The carrying values and the fixed contractual coupon rates, as applicable, of our long-term borrowings were as follows (in millions): June 30, December 31, 2.30% notes due 2016 (2.30% 2016 Notes) $ 750 $ 749 2.50% notes due 2016 (2.50% 2016 Notes) 1,000 1,000 Floating Rate Notes due 2017 600 600 1.25% notes due 2017 (1.25% 2017 Notes) 849 849 2.125% notes due 2017 (2.125% 2017 Notes) 1,249 1,249 5.85% notes due 2017 (5.85% 2017 Notes) 1,100 1,100 6.15% notes due 2018 (6.15% 2018 Notes) 500 500 Term Loan due 2018 2,225 4,375 4.375% euro-denominated notes due 2018 (4.375% 2018 euro Notes) 615 668 Floating Rate Notes due 2019 250 250 2.20% notes due 2019 (2.20% 2019 Notes) 1,398 1,398 5.70% notes due 2019 (5.70% 2019 Notes) 999 999 2.125% euro-denominated notes due 2019 (2.125% 2019 euro Notes) 750 814 4.50% notes due 2020 (4.50% 2020 Notes) 300 300 2.125% notes due 2020 (2.125% 2020 Notes) 749 — 3.45% notes due 2020 (3.45% 2020 Notes) 898 898 4.10% notes due 2021 (4.10% 2021 Notes) 998 998 3.875% notes due 2021 (3.875% 2021 Notes) 1,747 1,747 2.70% notes due 2022 (2.70% 2022 Notes) 499 — 3.625% notes due 2022 (3.625% 2022 Notes) 747 747 3.625% notes due 2024 (3.625% 2024 Notes) 1,398 1,398 3.125% notes due 2025 (3.125% 2025 Notes) 995 — 5.50% pound-sterling-denominated notes due 2026 (5.50% 2026 pound sterling Notes) 742 735 4.00% pound-sterling-denominated notes due 2029 (4.00% 2029 pound sterling Notes) 1,086 1,076 6.375% notes due 2037 (6.375% 2037 Notes) 899 899 6.90% notes due 2038 (6.90% 2038 Notes) 499 499 6.40% notes due 2039 (6.40% 2039 Notes) 996 996 5.75% notes due 2040 (5.75% 2040 Notes) 697 697 4.95% notes due 2041 (4.95% 2041 Notes) 596 596 5.15% notes due 2041 (5.15% 2041 Notes) 2,233 2,233 5.65% notes due 2042 (5.65% 2042 Notes) 1,245 1,245 5.375% notes due 2043 (5.375% 2043 Notes) 1,000 1,000 4.40% notes due 2045 (4.40% 2045 Notes) 1,243 — Other notes 100 100 Total debt 31,952 30,715 Less current portion (1,250 ) (500 ) Total noncurrent debt $ 30,702 $ 30,215 Debt repayments During the six months ended June 30, 2015 , we repaid $2.15 billion of principal on our Term Loan Credit Facility. Debt issuances In May 2015, we issued $3.5 billion aggregate principal amount of notes, composed of the 2.125% 2020 Notes, the 2.70% 2022 Notes, the 3.125% 2025 Notes and the 4.40% 2045 Notes. The notes may be redeemed at any time at our option, in whole or in part, at the principal amount of the notes being redeemed plus accrued and unpaid interest and, except as discussed below, a make-whole amount, as defined. The 2.125% 2020 Notes, the 2.70% 2022 Notes, the 3.125% 2025 Notes and the 4.40% 2045 Notes may be redeemed without payment of a make-whole amount if they are redeemed on or after one , two , three or six months , respectively, prior to their maturity dates. In the event of a change in control triggering event, as defined, we may be required to purchase all or a portion of the notes at a price equal to 101% of the principal amount of the notes plus accrued and unpaid interest. Debt issuance costs incurred in connection with the issuance of these notes totaling approximately $21 million are being amortized over the respective lives of the notes, and the related charge is included in Interest expense, net in the Condensed Consolidated Statements of Income.

Stockholders' equity

Stockholders' equity	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Stockholders' equity	Stockholders’ equity Stock repurchase program Activity under our stock repurchase program was as follows (in millions): 2015 2014 Shares Dollars Shares Dollars First quarter 2.9 $ 451 — $ — Second quarter 3.3 515 — — Total stock repurchases 6.2 $ 966 — $ — As of June 30, 2015 , $2.9 billion remained available under our stock repurchase program. Dividends On December 17, 2014 and March 4, 2015 the Board of Directors declared quarterly cash dividends of $0.79 per share of common stock, which were paid on March 6 and June 5, 2015, respectively. On July 28, 2015, the Board of Directors declared a cash dividend of $0.79 per share of common stock, which will be paid on September 8, 2015, to all stockholders of record as of the close of business on August 17, 2015. Accumulated other comprehensive income The components of accumulated other comprehensive income (AOCI) were as follows (in millions): Foreign currency translation Cash flow hedges Available-for-sale securities Other AOCI Balance as of December 31, 2014 $ (264 ) $ 290 $ (19 ) $ (15 ) $ (8 ) Foreign currency translation adjustments (184 ) — — — (184 ) Unrealized gains — 168 188 — 356 Reclassification adjustments to income — 114 35 — 149 Income taxes 11 (104 ) (83 ) — (176 ) Balance as of March 31, 2015 $ (437 ) $ 468 $ 121 $ (15 ) $ 137 Foreign currency translation adjustments 24 — — — 24 Unrealized gains (losses) — 44 (180 ) — (136 ) Reclassification adjustments to income — (226 ) 9 — (217 ) Income taxes (6 ) 67 63 — 124 Balance as of June 30, 2015 $ (419 ) $ 353 $ 13 $ (15 ) $ (68 ) The reclassifications out of AOCI to earnings were as follows (in millions): Amounts reclassified out of AOCI Components of AOCI Three months ended June 30, 2015 Three months ended June 30, 2014 Line item affected in the Statements of Income Cash flow hedges: Foreign currency contract gains $ 91 $ — Product sales Cross-currency swap contract gains 136 48 Interest and other income, net Forward interest rate contract losses (1 ) — Interest expense 226 48 Total before income tax (81 ) (18 ) Tax expense $ 145 $ 30 Net of taxes Available-for-sale securities: Net realized (losses) gains $ (9 ) $ 40 Interest and other income, net 3 (15 ) Tax benefit/(expense) $ (6 ) $ 25 Net of taxes Amounts reclassified out of AOCI Components of AOCI Six months ended June 30, 2015 Six months ended June 30, 2014 Line item affected in the Statements of Income Cash flow hedges: Foreign currency contract gains $ 160 $ — Product sales Cross-currency swap contract (losses) gains (47 ) 62 Interest and other income, net Forward interest rate contract losses (1 ) — Interest expense 112 62 Total before income tax (40 ) (23 ) Tax expense $ 72 $ 39 Net of taxes Available-for-sale securities: Net realized (losses) gains $ (44 ) $ 42 Interest and other income, net 16 (16 ) Tax benefit/(expense) $ (28 ) $ 26 Net of taxes

Fair value measurement

Fair value measurement	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair value measurement	Fair value measurement To estimate the fair values of our financial assets and liabilities we use valuation approaches within a hierarchy that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the inputs that market participants would use in pricing the asset or liability and are developed based on the best information available in the circumstances. The fair value hierarchy is divided into three levels based on the source of inputs as follows: Level 1 — Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access Level 2 — Valuations for which all significant inputs are observable, either directly or indirectly, other than level 1 inputs Level 3 — Valuations based on inputs that are unobservable and significant to the overall fair value measurement The availability of observable inputs can vary among the various types of financial assets and liabilities. To the extent that the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. In certain cases, the inputs used for measuring fair value may fall into different levels of the fair value hierarchy. In such cases, for financial statement disclosure purposes, the level in the fair value hierarchy within which the fair value measurement is categorized is based on the lowest level of input used that is significant to the overall fair value measurement. The fair values of each major class of the Company’s financial assets and liabilities measured at fair value on a recurring basis were as follows (in millions): Quoted prices in Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Fair value measurement as of June 30, 2015, using: Total Assets: Available-for-sale investments: U.S. Treasury securities $ 3,610 $ — $ — $ 3,610 Other government-related debt securities: U.S. — 551 — 551 Foreign and other — 1,723 — 1,723 Corporate debt securities: Financial — 7,426 — 7,426 Industrial — 7,629 — 7,629 Other — 829 — 829 Residential mortgage-backed securities — 1,497 — 1,497 Other mortgage- and asset-backed securities — 2,014 — 2,014 Money market mutual funds 2,951 — — 2,951 Other short-term interest-bearing securities — 1,284 — 1,284 Equity securities 175 — — 175 Derivatives: Foreign currency contracts — 238 — 238 Cross-currency swap contracts — 22 — 22 Interest rate swap contracts — 50 — 50 Total assets $ 6,736 $ 23,263 $ — $ 29,999 Liabilities: Derivatives: Foreign currency contracts $ — $ 7 $ — $ 7 Cross-currency swap contracts — 80 — 80 Interest rate swap contracts — 24 — 24 Contingent consideration obligations in connection with business combinations — — 215 215 Total liabilities $ — $ 111 $ 215 $ 326 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Fair value measurement as of December 31, 2014, using: Total Assets: Available-for-sale investments: U.S. Treasury securities $ 3,646 $ — $ — $ 3,646 Other government-related debt securities: U.S. — 528 — 528 Foreign and other — 1,569 — 1,569 Corporate debt securities: Financial — 6,041 — 6,041 Industrial — 6,351 — 6,351 Other — 649 — 649 Residential mortgage-backed securities — 1,702 — 1,702 Other mortgage- and asset-backed securities — 1,796 — 1,796 Money market mutual funds 3,004 — — 3,004 Other short-term interest-bearing securities — 1,302 — 1,302 Equity securities 144 — — 144 Derivatives: Foreign currency contracts — 360 — 360 Cross-currency swap contracts — 32 — 32 Interest rate swap contracts — 46 — 46 Total assets $ 6,794 $ 20,376 $ — $ 27,170 Liabilities: Derivatives: Foreign currency contracts $ — $ 4 $ — $ 4 Cross-currency swap contracts — 12 — 12 Interest rate swap contracts — 26 — 26 Contingent consideration obligations in connection with business combinations — — 215 215 Total liabilities $ — $ 42 $ 215 $ 257 The fair values of our U.S. Treasury securities, money market mutual funds and equity securities are based on quoted market prices in active markets with no valuation adjustment. Most of our other government-related and corporate debt securities are investment grade with maturity dates of five years or less from the balance sheet date. Our other government-related debt securities portfolio is composed of securities with weighted-average credit ratings of A- or equivalent by Standard & Poor's Financial Services LLC (S&P) or Fitch Ratings, Inc. (Fitch), A by Moody's Investors Service, Inc. (Moody's); and our corporate debt securities portfolio has a weighted-average credit rating of BBB+ or equivalent by S&P or Moody's, and A- by Fitch. We estimate the fair values of these securities by taking into consideration valuations obtained from third-party pricing services. The pricing services utilize industry standard valuation models, including both income- and market-based approaches, for which all significant inputs are observable, either directly or indirectly, to estimate fair value. These inputs include reported trades of and broker/dealer quotes on the same or similar securities; issuer credit spreads; benchmark securities; and other observable inputs. Our residential mortgage-, other mortgage- and asset-backed securities portfolio is composed entirely of senior tranches, with credit ratings of AAA or equivalent by S&P, Moody's or Fitch. We estimate the fair values of these securities by taking into consideration valuations obtained from third-party pricing services. The pricing services utilize industry standard valuation models, including both income- and market-based approaches, for which all significant inputs are observable, either directly or indirectly, to estimate fair value. These inputs include reported trades of and broker/dealer quotes on the same or similar securities; issuer credit spreads; benchmark securities; prepayment/default projections based on historical data; and other observable inputs. We value our other short-term interest-bearing securities at amortized cost, which approximates fair value given their near-term maturity dates. All of our foreign currency forward and option derivatives contracts have maturities of three years or less and all are with counterparties that have minimum credit ratings of A- or equivalent by S&P, Moody’s or Fitch. We estimated the fair values of these contracts by taking into consideration valuations obtained from a third-party valuation service that utilizes an income-based industry standard valuation model for which all significant inputs are observable, either directly or indirectly. These inputs include foreign currency rates, London Interbank Offered Rates (LIBOR) cash and swap rates and obligor credit default swap rates. In addition, inputs for our foreign currency option contracts also include implied volatility measures. These inputs, where applicable, are at commonly quoted intervals. See Note 12, Derivative instruments. Our cross-currency swap contracts are with counterparties that have minimum credit ratings of A- or equivalent by S&P, Moody’s or Fitch. We estimated the fair values of these contracts by taking into consideration valuations obtained from a third-party valuation service that utilizes an income-based industry standard valuation model for which all significant inputs are observable either directly or indirectly. These inputs include foreign currency exchange rates, LIBOR, swap rates, obligor credit default swap rates and cross-currency basis swap spreads. See Note 12, Derivative instruments. Our interest rate swap contracts are with counterparties that have minimum credit ratings of A- or equivalent by S&P, Moody’s or Fitch. We estimated the fair values of these contracts by using an income-based industry standard valuation model for which all significant inputs were observable either directly or indirectly. These inputs included LIBOR, swap rates and obligor credit default swap rates. Contingent consideration obligations We have incurred contingent consideration obligations as a result of our acquisition of a business and upon the assumption of contingent consideration obligations incurred by an acquired company discussed below. These contingent consideration obligations are recorded at their estimated fair values, and we revalue these obligations each reporting period until the related contingencies are resolved. The fair value measurements of these obligations are based on significant unobservable inputs related to product candidates acquired in the business combinations and are reviewed quarterly by management in our R&D and commercial sales organizations. These inputs include, as applicable, estimated probabilities and timing of achieving specified regulatory and commercial milestones and estimated annual sales. Significant changes which increase or decrease the probabilities of achieving the related regulatory and commercial events, shorten or lengthen the time required to achieve such events, or increase or decrease estimated annual sales would result in corresponding increases or decreases in the fair values of these obligations, as applicable. Changes in fair values of contingent consideration obligations are recognized in Other operating expenses in the Condensed Consolidated Statements of Income. Changes in the carrying amounts of contingent consideration obligations were as follows (in millions): Three months ended June 30, Six months ended June 30, 2015 2014 2015 2014 Beginning balance $ 215 $ 596 $ 215 $ 595 Net changes in valuation — 14 — 15 Ending balance $ 215 $ 610 $ 215 $ 610 As a result of our acquisition of BioVex in March 2011, we are obligated to pay its former shareholders up to $575 million of additional consideration contingent upon achieving separate regulatory and sales-related milestones with regard to talimogene laherparepvec, which was acquired in the acquisition. As a result of filing the BLA in the United States, we made a milestone payment of $125 million to the former BioVex shareholders during 2014. The largest remaining potential milestone payments include: (i) $125 million upon the first commercial sale in the United States following receipt of marketing approval for use of the product in specified patient populations and (ii) $125 million upon achievement of an agreed level of worldwide sales within a specified period of time. In addition, up to $200 million of additional consideration of varying amounts may be payable upon achievement of certain other regulatory and sales-related milestones. We estimate the fair values of the obligations to the former shareholders of BioVex by using probability-adjusted discounted cash flows. As a result of our quarterly review of the key assumptions, there was no change in the estimated aggregate fair value of the contingent consideration during the three and six months ended June 30, 2015 . As a result of our acquisition of Onyx in October 2013, we assumed contingent consideration obligations arising from Onyx's 2009 acquisition of Proteolix, Inc. These contingent consideration obligations were composed of two separate milestone payments of $150 million each payable if Kyprolis ® received specified marketing approvals for relapsed multiple myeloma on or before March 31, 2016, by each of the FDA and the European Medicines Agency (EMA). In December 2014, we renegotiated the terms of these milestones and settled the contingent consideration obligations with the former shareholders of Proteolix, Inc. by agreeing to make a single payment of $225 million . This amount was paid during the first quarter of 2015. During the six months ended June 30, 2015 and 2014 , there were no transfers of assets or liabilities between the fair value measurement levels and there were no material remeasurements to the fair values of assets and liabilities that are not measured at fair value on a recurring basis. Summary of the fair value of other financial instruments Cash equivalents The estimated fair values of cash equivalents approximate their carrying values due to the short-term nature of these financial instruments. Borrowings We estimated the fair value of our long-term debt (Level 2) by taking into consideration indicative prices obtained from a third-party financial institution that utilizes industry standard valuation models, including both income- and market-based approaches, for which all significant inputs are observable either directly or indirectly. These inputs include reported trades of and broker/dealer quotes on the same or similar securities; credit spreads; benchmark yields; foreign currency exchange rates, as applicable; and other observable inputs. As of June 30, 2015 , and December 31, 2014 , the aggregate fair values of our long-term debt were $33.6 billion and $33.6 billion , respectively, and the carrying values were $32.0 billion and $30.7 billion , respectively.

Derivative instruments

Derivative instruments	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative instruments	Derivative instruments The Company is exposed to foreign currency exchange rate and interest rate risks related to its business operations. To reduce our risks related to these exposures, we utilize or have utilized certain derivative instruments, including foreign currency forward, foreign currency option, cross-currency swap, forward interest rate and interest rate swap contracts. We do not use derivatives for speculative trading purposes. Cash flow hedges We are exposed to possible changes in the values of certain anticipated foreign currency cash flows resulting from changes in foreign currency exchange rates, associated primarily with our euro-denominated international product sales. Increases and decreases in the cash flows associated with our international product sales due to movements in foreign currency exchange rates are offset partially by the corresponding increases and decreases in our international operating expenses resulting from these foreign currency exchange rate movements. To further reduce our exposure to foreign currency exchange rate fluctuations on our international product sales, we enter into foreign currency forward and option contracts to hedge a portion of our projected international product sales primarily over a three-year time horizon , with, at any given point in time, a higher percentage of nearer-term projected product sales being hedged than in successive periods. As of June 30, 2015 , and December 31, 2014 , we had open foreign currency forward contracts with notional amounts of $3.2 billion and $3.8 billion , respectively, and open foreign currency option contracts with notional amounts of $382 million and $271 million , respectively. These foreign currency forward and option contracts, primarily euro based, have been designated as cash flow hedges, and accordingly, the effective portions of the unrealized gains and losses on these contracts are reported in AOCI on the Condensed Consolidated Balance Sheets and reclassified to earnings in the same periods during which the hedged transactions affect earnings. During the three months ended June 30, 2015, we effectively terminated outstanding foreign currency forward contracts, with a notional amount of $1.7 billion , to manage counterparty risk resulting from favorable movements in U.S. dollar/euro exchange rates. We received $247 million from the counterparties, which was included in Net cash provided by operating activities in the Condensed Consolidated Statement of Cash Flows. This amount remains in AOCI and will be recognized in Product sales in the Condensed Consolidated Statements of Income when the related international product sales affect earnings. In addition, during the three months ended June 30, 2015, we entered into new foreign currency forward contracts that hedge these forecasted international product sales. These contracts are included in the notional amounts of cash flow hedges outstanding at June 30, 2015. To hedge our exposure to foreign currency exchange rate risk associated with certain of our long-term notes denominated in foreign currencies, we entered into cross-currency swap contracts. Under the terms of these contracts, we paid euros/pounds sterling and received U.S. dollars for the notional amounts at the inception of the contracts, and we exchange interest payments based on these notional amounts at fixed rates over the lives of the contracts in which we pay U.S. dollars and receive euros/pounds sterling. In addition, we will pay U.S. dollars to and receive euros/pounds sterling from the counterparties at the maturities of the contracts for these same notional amounts. The terms of these contracts correspond to the related hedged notes, effectively converting the interest payments and principal repayment on these notes from euros/pounds sterling to U.S. dollars. These cross-currency swap contracts have been designated as cash flow hedges, and accordingly, the effective portions of the unrealized gains and losses on these contracts are reported in AOCI on the Condensed Consolidated Balance Sheets and reclassified to earnings in the same periods during which the hedged debt affects earnings. The notional amounts and interest rates of our cross-currency swaps are as follows (notional amounts in millions): Foreign currency U.S. dollars Hedged notes Notional amount Interest rate Notional amount Interest rate 2.125% 2019 euro Notes € 675 2.125 % $ 864 2.6 % 5.50% 2026 pound sterling Notes £ 475 5.50 % $ 747 6.0 % 4.00% 2029 pound sterling Notes £ 700 4.00 % $ 1,111 4.5 % The effective portions of the unrealized gain/(loss) recognized in other comprehensive income for our derivative instruments designated as cash flow hedges were as follows (in millions): Three months ended Six months ended June 30, June 30, Derivatives in cash flow hedging relationships 2015 2014 2015 2014 Foreign currency contracts $ (99 ) $ (13 ) $ 293 $ — Cross-currency swap contracts 143 21 (81 ) 25 Total $ 44 $ 8 $ 212 $ 25 The locations in the Condensed Consolidated Statements of Income and the effective portions of the gain/(loss) reclassified out of AOCI into earnings for our derivative instruments designated as cash flow hedges were as follows (in millions): Three months ended Six months ended June 30, June 30, Derivatives in cash flow hedging relationships Statements of Income location 2015 2014 2015 2014 Foreign currency contracts Product sales $ 91 $ — $ 160 $ — Cross-currency swap contracts Interest and other income, net 136 48 (47 ) 62 Forward interest rate contracts Interest expense, net (1 ) — (1 ) — Total $ 226 $ 48 $ 112 $ 62 No portions of our cash flow hedge contracts are excluded from the assessment of hedge effectiveness, and the gains and losses of the ineffective portions of these hedging instruments were not material for the three and six months ended June 30, 2015 and 2014. As of June 30, 2015 , the amounts expected to be reclassified out of AOCI into earnings over the next 12 months are approximately $427 million of net gains on our foreign currency and cross-currency swap contracts and approximately $1 million of losses on forward interest rate contracts. Fair value hedges To achieve a desired mix of fixed and floating interest rates on our long-term debt, we entered into interest rate swap contracts, which qualified and are designated as fair value hedges. The terms of these interest rate swap contracts correspond to the related hedged debt instruments and effectively converted a fixed interest rate coupon to a floating LIBOR-based coupon over the lives of the respective notes. We had interest rate swap agreements as of June 30, 2015 and December 31, 2014, with aggregate notional amounts of $6.65 billion . The contracts have rates that range from three-month LIBOR plus 0.4% to three-month LIBOR plus 2.0% . For derivative instruments that are designated and qualify as fair value hedges, the unrealized gain or loss on the derivative resulting from the change in fair value during the period as well as the offsetting unrealized loss or gain of the hedged item resulting from the change in fair value during the period attributable to the hedged risk is recognized in current earnings. For the three and six months ended June 30, 2015 , we included the unrealized gains on the hedged debt of $83 million and losses of $6 million , respectively, in the same line item, Interest expense, net, in the Condensed Consolidated Statements of Income, as the offsetting unrealized losses of $83 million and gains of $6 million , respectively, on the related interest rate swap agreements. For the three and six months ended June 30, 2014, we included the unrealized losses on the hedged debt of $63 million and $125 million , respectively, in the same line item, Interest expense, net, in the Condensed Consolidated Statements of Income, as the offsetting unrealized gains of $63 million and $125 million , respectively, on the related interest rate swap agreements. Derivatives not designated as hedges We enter into foreign currency forward contracts that are not designated as hedging transactions to reduce our exposure to foreign currency fluctuations of certain assets and liabilities denominated in foreign currencies. These exposures are hedged on a month-to-month basis. As of June 30, 2015 , and December 31, 2014 , the total notional amounts of these foreign currency forward contracts were $928 million and $875 million , respectively. The location in the Condensed Consolidated Statements of Income and the amount of gain/(loss) recognized in earnings for our derivative instruments not designated as hedging instruments were as follows (in millions): Three months ended Six months ended June 30, June 30, Derivatives not designated as hedging instruments Statements of Income location 2015 2014 2015 2014 Foreign currency contracts Interest and other income, net $ 20 $ (14 ) $ (9 ) $ (12 ) The fair values of derivatives included on the Condensed Consolidated Balance Sheets were as follows (in millions): Derivative assets Derivative liabilities June 30, 2015 Balance Sheet location Fair value Balance Sheet location Fair value Derivatives designated as hedging instruments: Cross-currency swap contracts Other current assets/ Other noncurrent assets $ 22 Accrued liabilities/ Other noncurrent liabilities $ 80 Foreign currency contracts Other current assets/ Other noncurrent assets 234 Accrued liabilities/ Other noncurrent liabilities 3 Interest rate swap contracts Other current assets/ Other noncurrent assets 50 Accrued liabilities/ Other noncurrent liabilities 24 Total derivatives designated as hedging instruments 306 107 Derivatives not designated as hedging instruments: Foreign currency contracts Other current assets 4 Accrued liabilities 4 Total derivatives not designated as hedging instruments 4 4 Total derivatives $ 310 $ 111 Derivative assets Derivative liabilities December 31, 2014 Balance Sheet location Fair value Balance Sheet location Fair value Derivatives designated as hedging instruments: Cross-currency swap contracts Other current assets/ Other noncurrent assets $ 32 Accrued liabilities/ Other noncurrent liabilities $ 12 Foreign currency contracts Other current assets/ Other noncurrent assets 356 Accrued liabilities/ Other noncurrent liabilities — Interest rate swap contracts Other current assets/ Other noncurrent assets 46 Accrued liabilities/ Other noncurrent liabilities 26 Total derivatives designated as hedging instruments 434 38 Derivatives not designated as hedging instruments: Foreign currency contracts Other current assets 4 Accrued liabilities 4 Total derivatives not designated as hedging instruments 4 4 Total derivatives $ 438 $ 42 Our derivative contracts that were in liability positions as of June 30, 2015 , contain certain credit-risk-related contingent provisions that would be triggered if: (i) we were to undergo a change in control and (ii) our or the surviving entity’s creditworthiness deteriorates, which is generally defined as having either a credit rating that is below investment grade or a materially weaker creditworthiness after the change in control. If these events were to occur, the counterparties would have the right, but not the obligation, to close the contracts under early-termination provisions. In such circumstances, the counterparties could request immediate settlement of these contracts for amounts that approximate the then current fair values of the contracts. In addition, our derivative contracts are not subject to any type of master netting arrangement, and amounts due to or from a counterparty under these contracts may only be offset against other amounts due to or from the same counterparty if an event of default or termination, as defined, were to occur. The cash flow effects of our derivative contracts for the six months ended June 30, 2015 and 2014 , are included within Net cash provided by operating activities in the Condensed Consolidated Statements of Cash Flows.

Contingencies and commitments

Contingencies and commitments	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Contingencies and commitments	Contingencies and commitments Contingencies In the ordinary course of business, we are involved in various legal proceedings and other matters—including those discussed in this Note—that are complex in nature and have outcomes that are difficult to predict. See Note 18, Contingencies and commitments, to our consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2014 , and Note 12, Contingencies and commitments, to our condensed consolidated financial statements in our Quarterly Report on Form 10-Q for the period ended March 31, 2015, for further discussion of certain of our legal proceedings and other matters. We record accruals for loss contingencies to the extent that we conclude that it is probable that a liability has been incurred and the amount of the related loss can be reasonably estimated. We evaluate, on a quarterly basis, developments in legal proceedings and other matters that could cause an increase or decrease in the amount of the liability that has been accrued previously. Our legal proceedings range from cases brought by a single plaintiff to class actions with thousands of putative class members. These legal proceedings, as well as other matters, involve various aspects of our business and a variety of claims—including but not limited to patent infringement, marketing, pricing and trade practices and securities law—some of which present novel factual allegations and/or unique legal theories. In each of the matters described in this filing or in Note 18, Contingencies and commitments, to our consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2014 , or in Note 12, Contingencies and commitments, to our condensed consolidated financial statements in our Quarterly Report on Form 10-Q for the period ended March 31, 2015, plaintiffs seek an award of a not-yet-quantified amount of damages or an amount that is not material. In addition, a number of the matters pending against us are at very early stages of the legal process (which in complex proceedings of the sort faced by us often extend for several years). As a result, none of the matters described in this filing have progressed sufficiently through discovery and/or development of important factual information and legal issues to enable us to estimate a range of possible loss, if any, or such amounts are not material. While it is not possible to accurately predict or determine the eventual outcomes of these items, an adverse determination in one or more of these items currently pending could have a material adverse effect on our consolidated results of operations, financial position or cash flows. Certain recent developments concerning our legal proceedings and other matters are discussed below: Sandoz Filgrastim Litigation On May 5, 2015, the U.S. Court of Appeals for the Federal Circuit (the Federal Circuit Court) entered an injunction prohibiting Sandoz Inc. (Sandoz) from marketing, selling, offering for sale, or importing into the United States Sandoz’s FDA-approved Zarxio ™ biosimilar product until the Federal Circuit Court resolves the appeal. On July 21, 2015, the Federal Circuit Court affirmed the district court’s dismissal of Amgen’s state law claims of unfair competition and conversion and directed the district court to enter judgment on Sandoz’s counter-claims consistent with the Federal Circuit’s interpretation of the Biologics Price Competition and Innovation Act. The Federal Circuit Court concluded that the only remedies available for a biosimilar applicant’s failure to provide its BLA by the statutory deadline is to bring a patent infringement claim and seek those patent remedies provided by the statute. The court also concluded that a biosimilar applicant must give 180-day advance notice of first commercial marketing after the FDA has licensed the biosimilar product. Accordingly, the Federal Circuit Court entered an order that its previously entered injunction be extended through September 2, 2015 (180 days from Sandoz’s notice given after FDA approval) and remanded for the district court to consider the patent infringement claim and counterclaims. ERISA Litigation On May 26, 2015, the U.S. Court of Appeals for the Ninth Circuit denied Amgen’s petition for rehearing en banc in this Employee Retirement Income Security Act (ERISA) class action case, and on June 9, 2015 that court granted Amgen’s motion to stay the issuance of the court’s mandate pending Amgen’s filing of a petition for certiorari with the U.S. Supreme Court, such petition presently due on August 24, 2015.

Summary of significant accoun20

Summary of significant accounting policies (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Business	Business Amgen Inc. (including its subsidiaries, referred to as “Amgen,” “the Company,” “we,” “our” or “us”) is a global biotechnology pioneer that discovers, develops, manufactures and delivers innovative human therapeutics. We operate in one business segment: human therapeutics.
Basis of presentation	Basis of presentation The financial information for the three and six months ended June 30, 2015 and 2014 , is unaudited but includes all adjustments (consisting of only normal recurring adjustments, unless otherwise indicated), which Amgen considers necessary for a fair presentation of its condensed consolidated results of operations for those periods. Interim results are not necessarily indicative of results for the full fiscal year. The condensed consolidated financial statements should be read in conjunction with our consolidated financial statements and the notes thereto contained in our Annual Report on Form 10-K for the year ended December 31, 2014 , and with our condensed consolidated financial statements and the notes thereto contained in our Quarterly Report on Form 10-Q for the period ended March 31, 2015 .
Principles of consolidation	Principles of consolidation The condensed consolidated financial statements include the accounts of Amgen as well as its majority-owned subsidiaries. We do not have any significant interests in any variable interest entities. All material intercompany transactions and balances have been eliminated in consolidation.
Use of estimates	Use of estimates The preparation of condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States (GAAP) requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results may differ from those estimates.
Property, plant and equipment, net	Property, plant and equipment, net Property, plant and equipment is recorded at historical cost, net of accumulated depreciation and amortization of $7.3 billion and $7.0 billion as of June 30, 2015 , and December 31, 2014 , respectively.
Recent accounting pronouncements	Recent accounting pronouncements In May 2014, a new accounting standard was issued that amends the guidance for the recognition of revenue from contracts with customers to transfer goods and services. This new standard, as originally issued, would be effective for interim and annual periods beginning January 1, 2017, and would be required to be adopted using either a full retrospective or a modified retrospective approach, with early adoption not permitted. In July 2015, the Financial Accounting Standards Board voted to delay the required date of adoption of this standard by one year and allow early adoption, but not before the original effective date of January 1, 2017. We are currently evaluating the impact that this new standard will have on our consolidated financial statements. In April 2015, a new accounting standard was issued that amends the presentation for debt issuance costs. Upon adoption of the standard, such costs shall be presented on our consolidated balance sheets as a direct deduction from the carrying amount of the related debt liability and not as a deferred charge presented in Other assets on our consolidated balance sheets. This new standard will be effective for interim and annual periods beginning on January 1, 2016, and is required to be retrospectively adopted. Adoption of this new standard is not expected to have a material impact on our consolidated balance sheets or related disclosures.

Restructuring (Tables)

Restructuring (Tables)	6 Months Ended
	Jun. 30, 2015
Restructuring and Related Activities [Abstract]
Summary of restructuring plan charges by type of activity	The following tables summarize recorded charges related to the restructuring plan by type of activity and the locations recognized within the Condensed Consolidated Statements of Income (in millions): Three months ended June 30, 2015 Separation costs Asset impairments Accelerated depreciation Other Total Cost of sales $ — $ — $ 13 $ 2 $ 15 Research and development — — 7 11 18 Selling, general and administrative — — 5 15 20 Other 7 — — 3 10 Total $ 7 $ — $ 25 $ 31 $ 63 Six months ended June 30, 2015 Separation costs Asset impairments Accelerated depreciation Other Total Cost of sales $ — $ — $ 26 $ 3 $ 29 Research and development — — 21 14 35 Selling, general and administrative — — 6 18 24 Other 55 — — 12 67 Total $ 55 $ — $ 53 $ 47 $ 155
Restructuring liabilities roll forward	The following table summarizes the charges (excluding non-cash items) and payments related to the restructuring plan (in millions): During the six months ended June 30, 2015 Separation costs Other Total Restructuring liabilities as of December 31, 2014 $ 221 $ 23 $ 244 Expense 56 39 95 Payments (145 ) (35 ) (180 ) Restructuring liabilities as of June 30, 2015 $ 132 $ 27 $ 159

Earnings per share (Tables)

Earnings per share (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Computation for basic and diluted earnings per share	The computations for basic and diluted EPS were as follows (in millions, except per share data): Three months ended Six months ended June 30, June 30, 2015 2014 2015 2014 Income (Numerator): Net income for basic and diluted EPS $ 1,653 $ 1,547 $ 3,276 $ 2,620 Shares (Denominator): Weighted-average shares for basic EPS 760 759 761 758 Effect of dilutive securities 8 9 8 10 Weighted-average shares for diluted EPS 768 768 769 768 Basic EPS $ 2.18 $ 2.04 $ 4.30 $ 3.46 Diluted EPS $ 2.15 $ 2.01 $ 4.26 $ 3.41

Available-for-sale investments

Available-for-sale investments (Tables)	6 Months Ended
	Jun. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Amortized cost, gross unrealized gains, gross unrealized losses and estimated fair values of available-for-sale investments by type of security	The amortized cost, gross unrealized gains, gross unrealized losses and estimated fair values of available-for-sale investments by type of security were as follows (in millions): Type of security as of June 30, 2015 Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value U.S. Treasury securities $ 3,604 $ 14 $ (8 ) $ 3,610 Other government-related debt securities: U.S. 551 1 (1 ) 551 Foreign and other 1,718 19 (14 ) 1,723 Corporate debt securities: Financial 7,425 22 (21 ) 7,426 Industrial 7,657 27 (55 ) 7,629 Other 830 3 (4 ) 829 Residential mortgage-backed securities 1,498 7 (8 ) 1,497 Other mortgage- and asset-backed securities 2,053 1 (40 ) 2,014 Money market mutual funds 2,951 — — 2,951 Other short-term interest-bearing securities 1,284 — — 1,284 Total interest-bearing securities 29,571 94 (151 ) 29,514 Equity securities 97 82 (4 ) 175 Total available-for-sale investments $ 29,668 $ 176 $ (155 ) $ 29,689 Type of security as of December 31, 2014 Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value U.S. Treasury securities $ 3,632 $ 22 $ (8 ) $ 3,646 Other government-related debt securities: U.S. 530 1 (3 ) 528 Foreign and other 1,572 21 (24 ) 1,569 Corporate debt securities: Financial 6,036 21 (16 ) 6,041 Industrial 6,394 23 (66 ) 6,351 Other 650 3 (4 ) 649 Residential mortgage-backed securities 1,708 4 (10 ) 1,702 Other mortgage- and asset-backed securities 1,837 — (41 ) 1,796 Money market mutual funds 3,004 — — 3,004 Other short-term interest-bearing securities 1,302 — — 1,302 Total interest-bearing securities 26,665 95 (172 ) 26,588 Equity securities 98 48 (2 ) 144 Total available-for-sale investments $ 26,763 $ 143 $ (174 ) $ 26,732
Fair values of available-for-sale investments by classification in the Consolidated Balance Sheets	The fair values of available-for-sale investments by classification in the Condensed Consolidated Balance Sheets were as follows (in millions): Classification in the Condensed Consolidated Balance Sheets June 30, December 31, Cash and cash equivalents $ 3,316 $ 3,293 Marketable securities 26,198 23,295 Other assets — noncurrent 175 144 Total available-for-sale investments $ 29,689 $ 26,732
Fair values of available-for-sale interest-bearing security investments by contractual maturity	The fair values of available-for-sale interest-bearing security investments by contractual maturity, except for mortgage- and asset-backed securities that do not have a single maturity date, were as follows (in millions): Contractual maturity June 30, December 31, Maturing in one year or less $ 4,701 $ 4,936 Maturing after one year through three years 8,712 6,829 Maturing after three years through five years 8,900 7,840 Maturing after five years through ten years 3,468 3,267 Maturing after ten years 222 218 Mortgage- and asset-backed securities 3,511 3,498 Total interest-bearing securities $ 29,514 $ 26,588
Available-for-sale securities, fair value and unrealized losses	The unrealized losses on available-for-sale investments and their related fair values were as follows (in millions): Less than 12 months 12 months or greater Type of security as of June 30, 2015 Fair value Unrealized losses Fair value Unrealized losses U.S. Treasury securities $ 1,522 $ (7 ) $ 30 $ (1 ) Other government-related debt securities: U.S. 275 (1 ) 20 — Foreign and other 701 (12 ) 71 (2 ) Corporate debt securities: Financial 3,539 (20 ) 156 (1 ) Industrial 4,364 (51 ) 307 (4 ) Other 358 (4 ) 24 — Residential mortgage-backed securities 464 (3 ) 305 (5 ) Other mortgage- and asset-backed securities 1,020 (11 ) 401 (29 ) Equity securities — — 2 (4 ) Total $ 12,243 $ (109 ) $ 1,316 $ (46 ) Less than 12 months 12 months or greater Type of security as of December 31, 2014 Fair value Unrealized losses Fair value Unrealized losses U.S. Treasury securities $ 1,770 $ (7 ) $ 171 $ (1 ) Other government-related debt securities: U.S. 160 — 178 (3 ) Foreign and other 514 (14 ) 159 (10 ) Corporate debt securities: Financial 3,150 (14 ) 158 (2 ) Industrial 3,931 (62 ) 222 (4 ) Other 354 (4 ) 5 — Residential mortgage-backed securities 614 (4 ) 413 (6 ) Other mortgage- and asset-backed securities 1,071 (8 ) 561 (33 ) Equity securities 5 (2 ) — — Total $ 11,569 $ (115 ) $ 1,867 $ (59 )

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Inventories	Inventories consisted of the following (in millions): June 30, December 31, Raw materials $ 221 $ 198 Work in process 1,320 1,551 Finished goods 1,026 898 Total inventories $ 2,567 $ 2,647

Goodwill and other intangible25

Goodwill and other intangible assets (Tables)	6 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill	Changes in the carrying amounts of goodwill were as follows (in millions): Six months ended June 30, 2015 2014 Beginning balance $ 14,788 $ 14,968 Goodwill related to acquisitions of businesses (1) — (128 ) Currency translation adjustments (65 ) 4 Ending balance $ 14,723 $ 14,844 (1) Composed of goodwill recognized on the acquisition dates of business combinations and subsequent adjustments to these amounts resulting from changes to the acquisition date fair values of net assets acquired in the business combinations recorded during their respective measurement periods.
Schedule of identifiable intangible assets	Identifiable intangible assets consisted of the following (in millions): June 30, 2015 December 31, 2014 Gross carrying amount Accumulated amortization Intangible assets, net Gross carrying amount Accumulated amortization Intangible assets, net Finite-lived intangible assets: Developed product technology rights $ 10,796 $ (4,568 ) $ 6,228 $ 10,826 $ (4,155 ) $ 6,671 Licensing rights 3,283 (847 ) 2,436 3,236 (696 ) 2,540 R&D technology rights 1,143 (600 ) 543 1,167 (569 ) 598 Marketing-related rights 1,222 (582 ) 640 1,241 (512 ) 729 Total finite-lived intangible assets 16,444 (6,597 ) 9,847 16,470 (5,932 ) 10,538 Indefinite-lived intangible assets: In-process research and development 2,141 — 2,141 2,155 — 2,155 Total identifiable intangible assets $ 18,585 $ (6,597 ) $ 11,988 $ 18,625 $ (5,932 ) $ 12,693

Financing arrangements (Tables)

Financing arrangements (Tables)	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Carrying values and the fixed contractual coupon rates of long-term borrowings	The carrying values and the fixed contractual coupon rates, as applicable, of our long-term borrowings were as follows (in millions): June 30, December 31, 2.30% notes due 2016 (2.30% 2016 Notes) $ 750 $ 749 2.50% notes due 2016 (2.50% 2016 Notes) 1,000 1,000 Floating Rate Notes due 2017 600 600 1.25% notes due 2017 (1.25% 2017 Notes) 849 849 2.125% notes due 2017 (2.125% 2017 Notes) 1,249 1,249 5.85% notes due 2017 (5.85% 2017 Notes) 1,100 1,100 6.15% notes due 2018 (6.15% 2018 Notes) 500 500 Term Loan due 2018 2,225 4,375 4.375% euro-denominated notes due 2018 (4.375% 2018 euro Notes) 615 668 Floating Rate Notes due 2019 250 250 2.20% notes due 2019 (2.20% 2019 Notes) 1,398 1,398 5.70% notes due 2019 (5.70% 2019 Notes) 999 999 2.125% euro-denominated notes due 2019 (2.125% 2019 euro Notes) 750 814 4.50% notes due 2020 (4.50% 2020 Notes) 300 300 2.125% notes due 2020 (2.125% 2020 Notes) 749 — 3.45% notes due 2020 (3.45% 2020 Notes) 898 898 4.10% notes due 2021 (4.10% 2021 Notes) 998 998 3.875% notes due 2021 (3.875% 2021 Notes) 1,747 1,747 2.70% notes due 2022 (2.70% 2022 Notes) 499 — 3.625% notes due 2022 (3.625% 2022 Notes) 747 747 3.625% notes due 2024 (3.625% 2024 Notes) 1,398 1,398 3.125% notes due 2025 (3.125% 2025 Notes) 995 — 5.50% pound-sterling-denominated notes due 2026 (5.50% 2026 pound sterling Notes) 742 735 4.00% pound-sterling-denominated notes due 2029 (4.00% 2029 pound sterling Notes) 1,086 1,076 6.375% notes due 2037 (6.375% 2037 Notes) 899 899 6.90% notes due 2038 (6.90% 2038 Notes) 499 499 6.40% notes due 2039 (6.40% 2039 Notes) 996 996 5.75% notes due 2040 (5.75% 2040 Notes) 697 697 4.95% notes due 2041 (4.95% 2041 Notes) 596 596 5.15% notes due 2041 (5.15% 2041 Notes) 2,233 2,233 5.65% notes due 2042 (5.65% 2042 Notes) 1,245 1,245 5.375% notes due 2043 (5.375% 2043 Notes) 1,000 1,000 4.40% notes due 2045 (4.40% 2045 Notes) 1,243 — Other notes 100 100 Total debt 31,952 30,715 Less current portion (1,250 ) (500 ) Total noncurrent debt $ 30,702 $ 30,215

Stockholders' equity (Tables)

Stockholders' equity (Tables)	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Share repurchase program activity	Activity under our stock repurchase program was as follows (in millions): 2015 2014 Shares Dollars Shares Dollars First quarter 2.9 $ 451 — $ — Second quarter 3.3 515 — — Total stock repurchases 6.2 $ 966 — $ —
Components of accumulated other comprehensive income	The components of accumulated other comprehensive income (AOCI) were as follows (in millions): Foreign currency translation Cash flow hedges Available-for-sale securities Other AOCI Balance as of December 31, 2014 $ (264 ) $ 290 $ (19 ) $ (15 ) $ (8 ) Foreign currency translation adjustments (184 ) — — — (184 ) Unrealized gains — 168 188 — 356 Reclassification adjustments to income — 114 35 — 149 Income taxes 11 (104 ) (83 ) — (176 ) Balance as of March 31, 2015 $ (437 ) $ 468 $ 121 $ (15 ) $ 137 Foreign currency translation adjustments 24 — — — 24 Unrealized gains (losses) — 44 (180 ) — (136 ) Reclassification adjustments to income — (226 ) 9 — (217 ) Income taxes (6 ) 67 63 — 124 Balance as of June 30, 2015 $ (419 ) $ 353 $ 13 $ (15 ) $ (68 )
Reclassifications out of accumulated other comprehensive income	The reclassifications out of AOCI to earnings were as follows (in millions): Amounts reclassified out of AOCI Components of AOCI Three months ended June 30, 2015 Three months ended June 30, 2014 Line item affected in the Statements of Income Cash flow hedges: Foreign currency contract gains $ 91 $ — Product sales Cross-currency swap contract gains 136 48 Interest and other income, net Forward interest rate contract losses (1 ) — Interest expense 226 48 Total before income tax (81 ) (18 ) Tax expense $ 145 $ 30 Net of taxes Available-for-sale securities: Net realized (losses) gains $ (9 ) $ 40 Interest and other income, net 3 (15 ) Tax benefit/(expense) $ (6 ) $ 25 Net of taxes Amounts reclassified out of AOCI Components of AOCI Six months ended June 30, 2015 Six months ended June 30, 2014 Line item affected in the Statements of Income Cash flow hedges: Foreign currency contract gains $ 160 $ — Product sales Cross-currency swap contract (losses) gains (47 ) 62 Interest and other income, net Forward interest rate contract losses (1 ) — Interest expense 112 62 Total before income tax (40 ) (23 ) Tax expense $ 72 $ 39 Net of taxes Available-for-sale securities: Net realized (losses) gains $ (44 ) $ 42 Interest and other income, net 16 (16 ) Tax benefit/(expense) $ (28 ) $ 26 Net of taxes

Fair value measurement (Tables)

Fair value measurement (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair value of each major class of financial assets and liabilities measured at fair value on a recurring basis	The fair values of each major class of the Company’s financial assets and liabilities measured at fair value on a recurring basis were as follows (in millions): Quoted prices in Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Fair value measurement as of June 30, 2015, using: Total Assets: Available-for-sale investments: U.S. Treasury securities $ 3,610 $ — $ — $ 3,610 Other government-related debt securities: U.S. — 551 — 551 Foreign and other — 1,723 — 1,723 Corporate debt securities: Financial — 7,426 — 7,426 Industrial — 7,629 — 7,629 Other — 829 — 829 Residential mortgage-backed securities — 1,497 — 1,497 Other mortgage- and asset-backed securities — 2,014 — 2,014 Money market mutual funds 2,951 — — 2,951 Other short-term interest-bearing securities — 1,284 — 1,284 Equity securities 175 — — 175 Derivatives: Foreign currency contracts — 238 — 238 Cross-currency swap contracts — 22 — 22 Interest rate swap contracts — 50 — 50 Total assets $ 6,736 $ 23,263 $ — $ 29,999 Liabilities: Derivatives: Foreign currency contracts $ — $ 7 $ — $ 7 Cross-currency swap contracts — 80 — 80 Interest rate swap contracts — 24 — 24 Contingent consideration obligations in connection with business combinations — — 215 215 Total liabilities $ — $ 111 $ 215 $ 326 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Fair value measurement as of December 31, 2014, using: Total Assets: Available-for-sale investments: U.S. Treasury securities $ 3,646 $ — $ — $ 3,646 Other government-related debt securities: U.S. — 528 — 528 Foreign and other — 1,569 — 1,569 Corporate debt securities: Financial — 6,041 — 6,041 Industrial — 6,351 — 6,351 Other — 649 — 649 Residential mortgage-backed securities — 1,702 — 1,702 Other mortgage- and asset-backed securities — 1,796 — 1,796 Money market mutual funds 3,004 — — 3,004 Other short-term interest-bearing securities — 1,302 — 1,302 Equity securities 144 — — 144 Derivatives: Foreign currency contracts — 360 — 360 Cross-currency swap contracts — 32 — 32 Interest rate swap contracts — 46 — 46 Total assets $ 6,794 $ 20,376 $ — $ 27,170 Liabilities: Derivatives: Foreign currency contracts $ — $ 4 $ — $ 4 Cross-currency swap contracts — 12 — 12 Interest rate swap contracts — 26 — 26 Contingent consideration obligations in connection with business combinations — — 215 215 Total liabilities $ — $ 42 $ 215 $ 257
Changes in carrying amounts of contingent consideration obligations	Changes in the carrying amounts of contingent consideration obligations were as follows (in millions): Three months ended June 30, Six months ended June 30, 2015 2014 2015 2014 Beginning balance $ 215 $ 596 $ 215 $ 595 Net changes in valuation — 14 — 15 Ending balance $ 215 $ 610 $ 215 $ 610

Derivative instruments (Tables)

Derivative instruments (Tables)	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of notional amounts and interest rates for cross-currency swaps	The notional amounts and interest rates of our cross-currency swaps are as follows (notional amounts in millions): Foreign currency U.S. dollars Hedged notes Notional amount Interest rate Notional amount Interest rate 2.125% 2019 euro Notes € 675 2.125 % $ 864 2.6 % 5.50% 2026 pound sterling Notes £ 475 5.50 % $ 747 6.0 % 4.00% 2029 pound sterling Notes £ 700 4.00 % $ 1,111 4.5 %
Effective portion of the unrealized gain (loss) recognized in Other Comprehensive Income for our derivative instruments designated as cash flow hedges	The effective portions of the unrealized gain/(loss) recognized in other comprehensive income for our derivative instruments designated as cash flow hedges were as follows (in millions): Three months ended Six months ended June 30, June 30, Derivatives in cash flow hedging relationships 2015 2014 2015 2014 Foreign currency contracts $ (99 ) $ (13 ) $ 293 $ — Cross-currency swap contracts 143 21 (81 ) 25 Total $ 44 $ 8 $ 212 $ 25
Location in the Condensed Consolidated Statements of Income and the effective portion of gain (loss) reclassified from Accumulated Other Comprehensive Income into earnings for our derivative instruments designated as cash flow hedges	The locations in the Condensed Consolidated Statements of Income and the effective portions of the gain/(loss) reclassified out of AOCI into earnings for our derivative instruments designated as cash flow hedges were as follows (in millions): Three months ended Six months ended June 30, June 30, Derivatives in cash flow hedging relationships Statements of Income location 2015 2014 2015 2014 Foreign currency contracts Product sales $ 91 $ — $ 160 $ — Cross-currency swap contracts Interest and other income, net 136 48 (47 ) 62 Forward interest rate contracts Interest expense, net (1 ) — (1 ) — Total $ 226 $ 48 $ 112 $ 62
Location in the Condensed Consolidated Statements of Income and the amount of gain (loss) recognized in earnings for the derivative instruments not designated as hedging instruments	The location in the Condensed Consolidated Statements of Income and the amount of gain/(loss) recognized in earnings for our derivative instruments not designated as hedging instruments were as follows (in millions): Three months ended Six months ended June 30, June 30, Derivatives not designated as hedging instruments Statements of Income location 2015 2014 2015 2014 Foreign currency contracts Interest and other income, net $ 20 $ (14 ) $ (9 ) $ (12 )
Fair values of derivatives included in the Condensed Consolidated Balance Sheets	The fair values of derivatives included on the Condensed Consolidated Balance Sheets were as follows (in millions): Derivative assets Derivative liabilities June 30, 2015 Balance Sheet location Fair value Balance Sheet location Fair value Derivatives designated as hedging instruments: Cross-currency swap contracts Other current assets/ Other noncurrent assets $ 22 Accrued liabilities/ Other noncurrent liabilities $ 80 Foreign currency contracts Other current assets/ Other noncurrent assets 234 Accrued liabilities/ Other noncurrent liabilities 3 Interest rate swap contracts Other current assets/ Other noncurrent assets 50 Accrued liabilities/ Other noncurrent liabilities 24 Total derivatives designated as hedging instruments 306 107 Derivatives not designated as hedging instruments: Foreign currency contracts Other current assets 4 Accrued liabilities 4 Total derivatives not designated as hedging instruments 4 4 Total derivatives $ 310 $ 111 Derivative assets Derivative liabilities December 31, 2014 Balance Sheet location Fair value Balance Sheet location Fair value Derivatives designated as hedging instruments: Cross-currency swap contracts Other current assets/ Other noncurrent assets $ 32 Accrued liabilities/ Other noncurrent liabilities $ 12 Foreign currency contracts Other current assets/ Other noncurrent assets 356 Accrued liabilities/ Other noncurrent liabilities — Interest rate swap contracts Other current assets/ Other noncurrent assets 46 Accrued liabilities/ Other noncurrent liabilities 26 Total derivatives designated as hedging instruments 434 38 Derivatives not designated as hedging instruments: Foreign currency contracts Other current assets 4 Accrued liabilities 4 Total derivatives not designated as hedging instruments 4 4 Total derivatives $ 438 $ 42

Summary of significant accoun30

Summary of significant accounting policies (Details) $ in Billions	6 Months Ended
	Jun. 30, 2015USD ($)segment	Dec. 31, 2014USD ($)
Accounting Policies [Abstract]
Number of operating segments	1
Accumulated depreciation and amortization on property, plant and equipment | $	$ 7.3	$ 7

Restructuring (Details Textual)

Restructuring (Details Textual) - Jun. 30, 2015 - USD ($) $ in Millions	Total	Total
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 63	$ 155
Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Expected pre-tax accounting charges	935	935
Separation and other headcount-related costs	535	535
Accelerated depreciation and asset impairment and other related charges		400
Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Expected pre-tax accounting charges	1,035	1,035
Separation and other headcount-related costs	585	585
Accelerated depreciation and asset impairment and other related charges		450
Separation and Other Headcount-related Costs [Member]
Restructuring Cost and Reserve [Line Items]
Total costs incurred to date	478	478
Asset-related Costs [Member]
Restructuring Cost and Reserve [Line Items]
Total costs incurred to date	$ 235	$ 235

Restructuring (Summary of Charg

Restructuring (Summary of Charges by Type) (Details) - Jun. 30, 2015 - USD ($) $ in Millions	Total	Total
Restructuring Cost and Reserve [Line Items]
Separation costs	$ 7	$ 55
Asset impairments	0	0
Accelerated depreciation	25	53
Other	31	47
Total	63	155
Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Separation costs	0	0
Asset impairments	0	0
Accelerated depreciation	13	26
Other	2	3
Total	15	29
Research and Development [Member]
Restructuring Cost and Reserve [Line Items]
Separation costs	0	0
Asset impairments	0	0
Accelerated depreciation	7	21
Other	11	14
Total	18	35
Selling, General and Administrative [Member]
Restructuring Cost and Reserve [Line Items]
Separation costs	0	0
Asset impairments	0	0
Accelerated depreciation	5	6
Other	15	18
Total	20	24
Other [Member]
Restructuring Cost and Reserve [Line Items]
Separation costs	7	55
Asset impairments	0	0
Accelerated depreciation	0	0
Other	3	12
Total	$ 10	$ 67

Restructuring (Summary of Expen

Restructuring (Summary of Expenses and Payments) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2015USD ($)
Restructuring Liabilities [Roll Forward]
Restructuring liabilities as of beginning of period	$ 244
Expense	95
Payments	(180)
Restructuring liabilities as of end of period	159
Separation Costs [Member]
Restructuring Liabilities [Roll Forward]
Restructuring liabilities as of beginning of period	221
Expense	56
Payments	(145)
Restructuring liabilities as of end of period	132
Other [Member]
Restructuring Liabilities [Roll Forward]
Restructuring liabilities as of beginning of period	23
Expense	39
Payments	(35)
Restructuring liabilities as of end of period	$ 27

Income taxes (Details)

Income taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income taxes (Textual) [Abstract]
Effective income tax rate	17.20%	12.00%	15.40%	11.50%
Increase in gross amount of unrecognized tax benefits for period	$ 110		$ 210
State and Local Jurisdiction [Member]
Income taxes (Textual) [Abstract]
Decrease in unrecognized tax benefits resulting from settlements with taxing authorities			$ 70
Puerto Rico Excise Tax [Member]
Puerto Rico Excise Tax Rate [Line Items]
Excise tax rate effective July 1, 2013 through 2017			4.00%

Earnings per share (Details)

Earnings per share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income (Numerator):
Net income for basic and diluted EPS	$ 1,653	$ 1,547	$ 3,276	$ 2,620
Shares (Denominator):
Weighted-average shares for basic EPS	760	759	761	758
Effect of dilutive securities	8	9	8	10
Weighted-average shares for diluted EPS	768	768	769	768
Basic EPS (in usd per share)	$ 2.18	$ 2.04	$ 4.30	$ 3.46
Diluted EPS (in usd per share)	$ 2.15	$ 2.01	$ 4.26	$ 3.41

Collaborative arrangements (Det

Collaborative arrangements (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)country	Jun. 30, 2014USD ($)
Astrazeneca Plc. [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Percentage of related development costs for the 2012-2014 period that were funded by partner			65.00%
Astrazeneca Plc. [Member] | Research and Development Expense [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Cost recoveries	$ 3	$ 39	$ 23	$ 49
Bayer HealthCare Pharmaceuticals Inc. [Member] | Nexavar [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Number of countries product is marketed and sold | country			100
Collaboration, royalty percentage in the high 30s			30.00%
Percentage of net profits after deducting certain partner related costs			50.00%
Collaboration, net R&D expenses	7	10	$ 12	21
Bayer HealthCare Pharmaceuticals Inc. [Member] | Nexavar [Member] | Other revenues [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration profit	$ 84	$ 87	$ 156	$ 165

Available-for-sale investment37

Available-for-sale investments (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Amortized cost, gross unrealized gains, gross unrealized losses and estimated fair values of available-for-sale investments by type of security
Amortized cost	$ 29,668	$ 26,763
Gross unrealized gains	176	143
Gross unrealized losses	(155)	(174)
Estimated fair value	29,689	26,732
U.S. Treasury securities [Member]
Amortized cost, gross unrealized gains, gross unrealized losses and estimated fair values of available-for-sale investments by type of security
Amortized cost	3,604	3,632
Gross unrealized gains	14	22
Gross unrealized losses	(8)	(8)
Estimated fair value	3,610	3,646
Other government-related debt securities - U.S. [Member]
Amortized cost, gross unrealized gains, gross unrealized losses and estimated fair values of available-for-sale investments by type of security
Amortized cost	551	530
Gross unrealized gains	1	1
Gross unrealized losses	(1)	(3)
Estimated fair value	551	528
Other government-related debt securities - Foreign and other [Member]
Amortized cost, gross unrealized gains, gross unrealized losses and estimated fair values of available-for-sale investments by type of security
Amortized cost	1,718	1,572
Gross unrealized gains	19	21
Gross unrealized losses	(14)	(24)
Estimated fair value	1,723	1,569
Corporate debt securities - Financial [Member]
Amortized cost, gross unrealized gains, gross unrealized losses and estimated fair values of available-for-sale investments by type of security
Amortized cost	7,425	6,036
Gross unrealized gains	22	21
Gross unrealized losses	(21)	(16)
Estimated fair value	7,426	6,041
Corporate debt securities - Industrial [Member]
Amortized cost, gross unrealized gains, gross unrealized losses and estimated fair values of available-for-sale investments by type of security
Amortized cost	7,657	6,394
Gross unrealized gains	27	23
Gross unrealized losses	(55)	(66)
Estimated fair value	7,629	6,351
Corporate debt securities - Other [Member]
Amortized cost, gross unrealized gains, gross unrealized losses and estimated fair values of available-for-sale investments by type of security
Amortized cost	830	650
Gross unrealized gains	3	3
Gross unrealized losses	(4)	(4)
Estimated fair value	829	649
Residential mortgage-backed securities [Member]
Amortized cost, gross unrealized gains, gross unrealized losses and estimated fair values of available-for-sale investments by type of security
Amortized cost	1,498	1,708
Gross unrealized gains	7	4
Gross unrealized losses	(8)	(10)
Estimated fair value	1,497	1,702
Other mortgage- and asset-backed securities [Member]
Amortized cost, gross unrealized gains, gross unrealized losses and estimated fair values of available-for-sale investments by type of security
Amortized cost	2,053	1,837
Gross unrealized gains	1	0
Gross unrealized losses	(40)	(41)
Estimated fair value	2,014	1,796
Money market mutual funds [Member]
Amortized cost, gross unrealized gains, gross unrealized losses and estimated fair values of available-for-sale investments by type of security
Amortized cost	2,951	3,004
Gross unrealized gains	0	0
Gross unrealized losses	0	0
Estimated fair value	2,951	3,004
Other short-term interest-bearing securities [Member]
Amortized cost, gross unrealized gains, gross unrealized losses and estimated fair values of available-for-sale investments by type of security
Amortized cost	1,284	1,302
Gross unrealized gains	0	0
Gross unrealized losses	0	0
Estimated fair value	1,284	1,302
Total interest-bearing securities [Member]
Amortized cost, gross unrealized gains, gross unrealized losses and estimated fair values of available-for-sale investments by type of security
Amortized cost	29,571	26,665
Gross unrealized gains	94	95
Gross unrealized losses	(151)	(172)
Estimated fair value	29,514	26,588
Equity securities [Member]
Amortized cost, gross unrealized gains, gross unrealized losses and estimated fair values of available-for-sale investments by type of security
Amortized cost	97	98
Gross unrealized gains	82	48
Gross unrealized losses	(4)	(2)
Estimated fair value	$ 175	$ 144

Available-for-sale investment38

Available-for-sale investments (Fair Values by Classification) (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Fair values of available-for-sale investments by classification in the Consolidated Balance Sheets
Cash and cash equivalents	$ 3,795	$ 3,731	$ 4,352	$ 3,805
Marketable securities	26,198	23,295
Other assets — noncurrent	1,712	1,592
Total available-for-sale investments	29,689	26,732
Available-for-sale investments [Member]
Fair values of available-for-sale investments by classification in the Consolidated Balance Sheets
Cash and cash equivalents	3,316	3,293
Other assets — noncurrent	$ 175	$ 144

Available-for-sale investment39

Available-for-sale investments (Fair Values by Contractual Maturity) (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Fair values of available-for-sale debt security investments by contractual maturity
Maturing in one year or less	$ 4,701	$ 4,936
Maturing after one year through three years	8,712	6,829
Maturing after three years through five years	8,900	7,840
Maturing after five years through ten years	3,468	3,267
Maturing after ten years	222	218
Mortgage- and asset-backed securities	3,511	3,498
Total available-for-sale investments	29,689	26,732
Total interest-bearing securities [Member]
Fair values of available-for-sale debt security investments by contractual maturity
Total available-for-sale investments	$ 29,514	$ 26,588

Available-for-sale investment40

Available-for-sale investments (Unrealized Losses and Fair Values) (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair value	$ 12,243	$ 11,569
Less than 12 months, Unrealized losses	(109)	(115)
12 months or greater, Fair value	1,316	1,867
12 months or greater, Unrealized losses	(46)	(59)
U.S. Treasury securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair value	1,522	1,770
Less than 12 months, Unrealized losses	(7)	(7)
12 months or greater, Fair value	30	171
12 months or greater, Unrealized losses	(1)	(1)
Other government-related debt securities - U.S. [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair value	275	160
Less than 12 months, Unrealized losses	(1)	0
12 months or greater, Fair value	20	178
12 months or greater, Unrealized losses	0	(3)
Other government-related debt securities - Foreign and other [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair value	701	514
Less than 12 months, Unrealized losses	(12)	(14)
12 months or greater, Fair value	71	159
12 months or greater, Unrealized losses	(2)	(10)
Corporate debt securities - Financial [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair value	3,539	3,150
Less than 12 months, Unrealized losses	(20)	(14)
12 months or greater, Fair value	156	158
12 months or greater, Unrealized losses	(1)	(2)
Corporate debt securities - Industrial [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair value	4,364	3,931
Less than 12 months, Unrealized losses	(51)	(62)
12 months or greater, Fair value	307	222
12 months or greater, Unrealized losses	(4)	(4)
Corporate debt securities - Other [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair value	358	354
Less than 12 months, Unrealized losses	(4)	(4)
12 months or greater, Fair value	24	5
12 months or greater, Unrealized losses	0	0
Residential mortgage-backed securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair value	464	614
Less than 12 months, Unrealized losses	(3)	(4)
12 months or greater, Fair value	305	413
12 months or greater, Unrealized losses	(5)	(6)
Other mortgage- and asset-backed securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair value	1,020	1,071
Less than 12 months, Unrealized losses	(11)	(8)
12 months or greater, Fair value	401	561
12 months or greater, Unrealized losses	(29)	(33)
Equity securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair value	0	5
Less than 12 months, Unrealized losses	0	(2)
12 months or greater, Fair value	2	0
12 months or greater, Unrealized losses	$ (4)	$ 0

Available-for-sale investment41

Available-for-sale investments (Details Textual) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Investments [Line Items]
Total realized gains	$ 18	$ 57	$ 54	$ 85
Total realized losses	27	$ 17	98	$ 43
Available-for-sale investments [Member]
Investments [Line Items]
Cash and cash equivalents	$ 479		$ 479		$ 438

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Inventories
Raw materials	$ 221	$ 198
Work in process	1,320	1,551
Finished goods	1,026	898
Total inventories	$ 2,567	$ 2,647

Goodwill and other intangible43

Goodwill and other intangible assets (Goodwill Roll Forward) (Details) - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014
Goodwill [Roll Forward]
Beginning balance		$ 14,788	$ 14,968
Goodwill related to acquisitions of businesses	[1]	0	(128)
Currency translation adjustments		(65)	4
Ending balance		$ 14,723	$ 14,844
[1]	Composed of goodwill recognized on the acquisition dates of business combinations and subsequent adjustments to these amounts resulting from changes to the acquisition date fair values of net assets acquired in the business combinations recorded during their respective measurement periods.

Goodwill and other intangible44

Goodwill and other intangible assets (Idenfitiable Intangible Assets) (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Gross carrying amount	$ 18,585	$ 18,625
Accumulated amortization	(6,597)	(5,932)
Intangible assets, net	11,988	12,693
Finite-lived intangible assets:
Gross carrying amount	16,444	16,470
Accumulated amortization	(6,597)	(5,932)
Intangible assets, net	9,847	10,538
In-process Research and Development (IPR&D) [Member]
Indefinite-lived intangible assets:
Indefinite-lived intangible assets	2,141	2,155
Developed Product Technology Rights [Member]
Finite-lived intangible assets:
Gross carrying amount	10,796	10,826
Accumulated amortization	(4,568)	(4,155)
Intangible assets, net	6,228	6,671
Licensing Rights [Member]
Finite-lived intangible assets:
Gross carrying amount	3,283	3,236
Accumulated amortization	(847)	(696)
Intangible assets, net	2,436	2,540
R&D Technology Rights [Member]
Finite-lived intangible assets:
Gross carrying amount	1,143	1,167
Accumulated amortization	(600)	(569)
Intangible assets, net	543	598
Marketing-related Rights [Member]
Finite-lived intangible assets:
Gross carrying amount	1,222	1,241
Accumulated amortization	(582)	(512)
Intangible assets, net	$ 640	$ 729

Goodwill and other intangible45

Goodwill and other intangible assets (Details Textual) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Finite-Lived Intangible Assets [Line Items]
Amortization charges associated with finite-lived intangible assets	$ 345	$ 341	$ 686	$ 698
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Total estimated amortization of finite- lived intangible assets for the six months ending 2015	672		672
Total estimated amortization of finite- lived intangible assets for 2016	1,300		1,300
Total estimated amortization of finite- lived intangible assets for 2017	1,200		1,200
Total estimated amortization of finite- lived intangible assets for 2018	1,000		1,000
Total estimated amortization of finite- lived intangible assets for 2019	948		948
Total estimated amortization of finite- lived intangible assets for 2020	892		892
IPR&D - Talimogene Laherparepvec [Member]
Indefinite-lived Intangible Assets [Line Items]
Carrying value	$ 675		$ 675

Financing arrangements (Details

Financing arrangements (Details) - USD ($)	1 Months Ended	6 Months Ended
	May. 31, 2015	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Carrying values of long-term borrowings
Other notes		$ 100,000,000		$ 100,000,000
Total debt		31,952,000,000		30,715,000,000
Less current portion		(1,250,000,000)		(500,000,000)
Total noncurrent debt		30,702,000,000		30,215,000,000
Term Loan Credit Facility, repayment of principal		2,150,000,000	$ 3,355,000,000
Aggregate principal amount of notes issued	$ 3,500,000,000
Interest Expense [Member]
Carrying values of long-term borrowings
Debt issuance costs		21,000,000
2.30% notes due 2016 (2.30% 2016 Notes) [Member]
Carrying values of long-term borrowings
Notes payable, noncurrent		$ 750,000,000		$ 749,000,000
Interest rate, stated percentage		2.30%		2.30%
2.50% notes due 2016 (2.50% 2016 Notes) [Member]
Carrying values of long-term borrowings
Notes payable, noncurrent		$ 1,000,000,000		$ 1,000,000,000
Interest rate, stated percentage		2.50%		2.50%
Floating Rate Notes due 2017 [Member]
Carrying values of long-term borrowings
Notes payable, noncurrent		$ 600,000,000		$ 600,000,000
1.25% notes due 2017 (1.25% 2017 Notes) [Member]
Carrying values of long-term borrowings
Notes payable, noncurrent		$ 849,000,000		$ 849,000,000
Interest rate, stated percentage		1.25%		1.25%
2.125% notes due 2017 (2.125% 2017 Notes) [Member]
Carrying values of long-term borrowings
Notes payable, noncurrent		$ 1,249,000,000		$ 1,249,000,000
Interest rate, stated percentage		2.125%		2.125%
5.85% notes due 2017 (5.85% 2017 Notes) [Member]
Carrying values of long-term borrowings
Notes payable, noncurrent		$ 1,100,000,000		$ 1,100,000,000
Interest rate, stated percentage		5.85%		5.85%
6.15% notes due 2018 (6.15% 2018 Notes) [Member]
Carrying values of long-term borrowings
Notes payable, noncurrent		$ 500,000,000		$ 500,000,000
Interest rate, stated percentage		6.15%		6.15%
Term Loan Due 2018 [Member]
Carrying values of long-term borrowings
Loans payable to bank		$ 2,225,000,000		$ 4,375,000,000
Term Loan Credit Facility, repayment of principal		2,150,000,000
4.375% euro denominated notes due 2018 (4.375% 2018 euro Notes) [Member]
Carrying values of long-term borrowings
Notes payable, noncurrent		$ 615,000,000		$ 668,000,000
Interest rate, stated percentage		4.375%		4.375%
Floating Rate Notes due 2019 [Member]
Carrying values of long-term borrowings
Notes payable, noncurrent		$ 250,000,000		$ 250,000,000
2.20% notes due 2019 (2.20% 2019 Notes) [Member]
Carrying values of long-term borrowings
Notes payable, noncurrent		$ 1,398,000,000		$ 1,398,000,000
Interest rate, stated percentage		2.20%		2.20%
5.70% notes due 2019 (5.70% 2019 Notes) [Member]
Carrying values of long-term borrowings
Notes payable, noncurrent		$ 999,000,000		$ 999,000,000
Interest rate, stated percentage		5.70%		5.70%
2.125% euro denominated notes due 2019 (2.125% 2019 euro Notes) [Member]
Carrying values of long-term borrowings
Notes payable, noncurrent		$ 750,000,000		$ 814,000,000
Interest rate, stated percentage		2.125%		2.125%
4.50% notes due 2020 (4.50% 2020 Notes) [Member]
Carrying values of long-term borrowings
Notes payable, noncurrent		$ 300,000,000		$ 300,000,000
Interest rate, stated percentage		4.50%		4.50%
2.125% notes due 2020 (2.125% 2020 Notes) [Member]
Carrying values of long-term borrowings
Notes payable, noncurrent		$ 749,000,000
Interest rate, stated percentage		2.125%
Redemption period without payment of a make-whole amount	1 month
Percentage of principal amount of notes that may be paid upon occurrence of change in control triggering event		101.00%
3.45% notes due 2020 (3.45% 2020 Notes) [Member]
Carrying values of long-term borrowings
Notes payable, noncurrent		$ 898,000,000		$ 898,000,000
Interest rate, stated percentage		3.45%		3.45%
4.10% notes due 2021 (4.10% 2021 Notes) [Member]
Carrying values of long-term borrowings
Notes payable, noncurrent		$ 998,000,000		$ 998,000,000
Interest rate, stated percentage		4.10%		4.10%
3.875% notes due 2021 (3.875% 2021 Notes) [Member]
Carrying values of long-term borrowings
Notes payable, noncurrent		$ 1,747,000,000		$ 1,747,000,000
Interest rate, stated percentage		3.875%		3.875%
2.70% notes due 2022 (2.70% 2022 Notes) [Member]
Carrying values of long-term borrowings
Notes payable, noncurrent		$ 499,000,000
Interest rate, stated percentage		2.70%
Redemption period without payment of a make-whole amount	2 months
Percentage of principal amount of notes that may be paid upon occurrence of change in control triggering event		101.00%
3.625% notes due 2022 (3.625% 2022 Notes) [Member]
Carrying values of long-term borrowings
Notes payable, noncurrent		$ 747,000,000		$ 747,000,000
Interest rate, stated percentage		3.625%		3.625%
3.625% notes due 2024 (3.625% 2024 Notes) [Member]
Carrying values of long-term borrowings
Notes payable, noncurrent		$ 1,398,000,000		$ 1,398,000,000
Interest rate, stated percentage		3.625%		3.625%
3.125% notes due 2025 (3.125% 2025 Notes) [Member]
Carrying values of long-term borrowings
Notes payable, noncurrent		$ 995,000,000
Interest rate, stated percentage		3.125%
Redemption period without payment of a make-whole amount	3 months
Percentage of principal amount of notes that may be paid upon occurrence of change in control triggering event		101.00%
5.50% pound sterling denominated notes due 2026 (5.50% 2026 pound sterling Notes) [Member]
Carrying values of long-term borrowings
Notes payable, noncurrent		$ 742,000,000		$ 735,000,000
Interest rate, stated percentage		5.50%		5.50%
4.00% pound sterling denominated notes due 2029 (4.00% 2029 pound sterling Notes) [Member]
Carrying values of long-term borrowings
Notes payable, noncurrent		$ 1,086,000,000		$ 1,076,000,000
Interest rate, stated percentage		4.00%		4.00%
6.375% notes due 2037 (6.375% 2037 Notes) [Member]
Carrying values of long-term borrowings
Notes payable, noncurrent		$ 899,000,000		$ 899,000,000
Interest rate, stated percentage		6.375%		6.375%
6.90% notes due 2038 (6.90% 2038 Notes) [Member]
Carrying values of long-term borrowings
Notes payable, noncurrent		$ 499,000,000		$ 499,000,000
Interest rate, stated percentage		6.90%		6.90%
6.40% notes due 2039 (6.40% 2039 Notes) [Member]
Carrying values of long-term borrowings
Notes payable, noncurrent		$ 996,000,000		$ 996,000,000
Interest rate, stated percentage		6.40%		6.40%
5.75% notes due 2040 (5.75% 2040 Notes) [Member]
Carrying values of long-term borrowings
Notes payable, noncurrent		$ 697,000,000		$ 697,000,000
Interest rate, stated percentage		5.75%		5.75%
4.95% notes due 2041 (4.95% 2041 Notes) [Member]
Carrying values of long-term borrowings
Notes payable, noncurrent		$ 596,000,000		$ 596,000,000
Interest rate, stated percentage		4.95%		4.95%
5.15% notes due 2041 (5.15% 2041 Notes) [Member]
Carrying values of long-term borrowings
Notes payable, noncurrent		$ 2,233,000,000		$ 2,233,000,000
Interest rate, stated percentage		5.15%		5.15%
5.65% notes due 2042 (5.65% 2042 Notes) [Member]
Carrying values of long-term borrowings
Notes payable, noncurrent		$ 1,245,000,000		$ 1,245,000,000
Interest rate, stated percentage		5.65%		5.65%
5.375% notes due 2043 (5.375% 2043 Notes) [Member]
Carrying values of long-term borrowings
Notes payable, noncurrent		$ 1,000,000,000		$ 1,000,000,000
Interest rate, stated percentage		5.375%		5.375%
4.40% notes due 2045 (4.40% 2045 Notes) [Member]
Carrying values of long-term borrowings
Notes payable, noncurrent		$ 1,243,000,000
Interest rate, stated percentage		4.40%
Redemption period without payment of a make-whole amount	6 months
Percentage of principal amount of notes that may be paid upon occurrence of change in control triggering event		101.00%

Stockholders' equity (Details T

Stockholders' equity (Details Textual) - USD ($) $ / shares in Units, $ in Billions	Jul. 28, 2015	Jun. 05, 2015	Mar. 06, 2015	Mar. 04, 2015	Dec. 17, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Subsequent Event [Line Items]
Common stock, dividends declared per share (in usd per share)				$ 0.79	$ 0.79
Amount available for stock repurchases under a board approved stock repurchase plan						$ 2.9		$ 2.9
Dividends paid per share (in usd per share)		$ 0.79	$ 0.79			$ 0.79	$ 0.61	$ 1.58	$ 1.22
Subsequent Event [Member]
Subsequent Event [Line Items]
Common stock, dividends declared per share (in usd per share)	$ 0.79

Stockholders' equity (Share Rep

Stockholders' equity (Share Repurchase Program) (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2014	Mar. 31, 2014	Jun. 30, 2015	Jun. 30, 2014
Equity [Abstract]
Stock repurchased, Shares	3.3	2.9	0	0	6.2	0
Stock repurchased	$ 515	$ 451	$ 0	$ 0	$ 966	$ 0

Stockholders' equity (Component

Stockholders' equity (Components of AOCI) (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2015	Mar. 31, 2015
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Beginning balance, Foreign currency translation	$ (437)	$ (264)
Beginning balance, Cash flow hedges	468	290
Beginning balance, Available-for-sale securities	121	(19)
Beginning balance, Other	(15)	(15)
Beginning balance, AOCI	137	(8)
Other Comprehensive Income (Loss), before Tax [Abstract]
Foreign currency translation adjustments	24	(184)
Unrealized gains (losses), Cash flow hedges	44	168
Unrealized gains (losses), Available-for-sale securities	(180)	188
Unrealized gains (losses), AOCI	(136)	356
Reclassification adjustments to income, Cash flow hedges	(226)	114
Reclassification adjustments to income, Available-for-sale securities	9	35
Reclassification adjustments to income, AOCI	(217)	149
Income taxes, Foreign currency translation	(6)	11
Income taxes, Cash flow hedges	67	(104)
Income taxes, Available-for-sale securities	63	(83)
Income taxes, AOCI	124	(176)
Ending balance, Foreign currency translation	(419)	(437)
Ending balance, Cash flow hedges	353	468
Ending balance, Available-for-sale securities	13	121
Ending balance, Other	(15)	(15)
Ending balance, AOCI	$ (68)	$ 137

Stockholders' equity (Relcassif

Stockholders' equity (Relcassifications out of AOCI) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Product sales	$ 5,225	$ 4,949	$ 10,099	$ 9,305
Interest and other income, net	198	138	304	237
Interest expense	(277)	(282)	(529)	(541)
Income before income taxes	1,997	1,758	3,873	2,962
Tax benefit/(expense)	(344)	(211)	(597)	(342)
Net income	1,653	1,547	3,276	2,620
Reclassification out of Accumulated Other Comprehensive Income [Member] | Cash Flow Hedges [Member]
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Product sales	91	0	160	0
Interest and other income, net	136	48	(47)	62
Interest expense	(1)	0	(1)	0
Income before income taxes	226	48	112	62
Tax benefit/(expense)	(81)	(18)	(40)	(23)
Net income	145	30	72	39
Reclassification out of Accumulated Other Comprehensive Income [Member] | Realized Gains and Losses on Available-for-sale Securities [Member]
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Interest and other income, net	(9)	40	(44)	42
Tax benefit/(expense)	3	(15)	16	(16)
Net income	$ (6)	$ 25	$ (28)	$ 26

Fair value measurement (Details

Fair value measurement (Details) - USD ($) $ in Millions	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013
Assets:
Total available-for-sale investments	$ 29,689		$ 26,732
Fair Value, Measurements, Recurring [Member]
Derivative Assets:
Interest rate swap contracts	50		46
Total assets	29,999		27,170
Derivative Liabilities:
Interest rate swap contracts	24		26
Contingent consideration obligations in connection with business combinations	215		215
Total liabilities	326		257
Fair Value, Measurements, Recurring [Member] | Foreign currency contracts [Member]
Derivative Assets:
Foreign currency contracts	238		360
Derivative Liabilities:
Foreign currency contracts	7		4
Fair Value, Measurements, Recurring [Member] | Cross currency swap contracts [Member]
Derivative Assets:
Foreign currency contracts	22		32
Derivative Liabilities:
Foreign currency contracts	80		12
Fair Value, Measurements, Recurring [Member] | U.S. Treasury securities [Member]
Assets:
Total available-for-sale investments	3,610		3,646
Fair Value, Measurements, Recurring [Member] | Other government-related debt securities - U.S. [Member]
Assets:
Total available-for-sale investments	551		528
Fair Value, Measurements, Recurring [Member] | Other government-related debt securities - Foreign and other [Member]
Assets:
Total available-for-sale investments	1,723		1,569
Fair Value, Measurements, Recurring [Member] | Corporate debt securities - Financial [Member]
Assets:
Total available-for-sale investments	7,426		6,041
Fair Value, Measurements, Recurring [Member] | Corporate debt securities - Industrial [Member]
Assets:
Total available-for-sale investments	7,629		6,351
Fair Value, Measurements, Recurring [Member] | Corporate debt securities - Other [Member]
Assets:
Total available-for-sale investments	829		649
Fair Value, Measurements, Recurring [Member] | Residential mortgage-backed securities [Member]
Assets:
Total available-for-sale investments	1,497		1,702
Fair Value, Measurements, Recurring [Member] | Other mortgage- and asset-backed securities [Member]
Assets:
Total available-for-sale investments	2,014		1,796
Fair Value, Measurements, Recurring [Member] | Money market mutual funds [Member]
Assets:
Total available-for-sale investments	2,951		3,004
Fair Value, Measurements, Recurring [Member] | Other short-term interest-bearing securities [Member]
Assets:
Total available-for-sale investments	1,284		1,302
Fair Value, Measurements, Recurring [Member] | Equity securities [Member]
Assets:
Total available-for-sale investments	175		144
Fair Value, Measurements, Recurring [Member] | Quoted prices in active markets for identical assets (Level 1) [Member]
Derivative Assets:
Interest rate swap contracts	0		0
Total assets	6,736		6,794
Derivative Liabilities:
Interest rate swap contracts	0		0
Contingent consideration obligations in connection with business combinations	0		0
Total liabilities	0		0
Fair Value, Measurements, Recurring [Member] | Quoted prices in active markets for identical assets (Level 1) [Member] | Foreign currency contracts [Member]
Derivative Assets:
Foreign currency contracts	0		0
Derivative Liabilities:
Foreign currency contracts	0		0
Fair Value, Measurements, Recurring [Member] | Quoted prices in active markets for identical assets (Level 1) [Member] | Cross currency swap contracts [Member]
Derivative Assets:
Foreign currency contracts	0		0
Derivative Liabilities:
Foreign currency contracts	0		0
Fair Value, Measurements, Recurring [Member] | Quoted prices in active markets for identical assets (Level 1) [Member] | U.S. Treasury securities [Member]
Assets:
Total available-for-sale investments	3,610		3,646
Fair Value, Measurements, Recurring [Member] | Quoted prices in active markets for identical assets (Level 1) [Member] | Other government-related debt securities - U.S. [Member]
Assets:
Total available-for-sale investments	0		0
Fair Value, Measurements, Recurring [Member] | Quoted prices in active markets for identical assets (Level 1) [Member] | Other government-related debt securities - Foreign and other [Member]
Assets:
Total available-for-sale investments	0		0
Fair Value, Measurements, Recurring [Member] | Quoted prices in active markets for identical assets (Level 1) [Member] | Corporate debt securities - Financial [Member]
Assets:
Total available-for-sale investments	0		0
Fair Value, Measurements, Recurring [Member] | Quoted prices in active markets for identical assets (Level 1) [Member] | Corporate debt securities - Industrial [Member]
Assets:
Total available-for-sale investments	0		0
Fair Value, Measurements, Recurring [Member] | Quoted prices in active markets for identical assets (Level 1) [Member] | Corporate debt securities - Other [Member]
Assets:
Total available-for-sale investments	0		0
Fair Value, Measurements, Recurring [Member] | Quoted prices in active markets for identical assets (Level 1) [Member] | Residential mortgage-backed securities [Member]
Assets:
Total available-for-sale investments	0		0
Fair Value, Measurements, Recurring [Member] | Quoted prices in active markets for identical assets (Level 1) [Member] | Other mortgage- and asset-backed securities [Member]
Assets:
Total available-for-sale investments	0		0
Fair Value, Measurements, Recurring [Member] | Quoted prices in active markets for identical assets (Level 1) [Member] | Money market mutual funds [Member]
Assets:
Total available-for-sale investments	2,951		3,004
Fair Value, Measurements, Recurring [Member] | Quoted prices in active markets for identical assets (Level 1) [Member] | Other short-term interest-bearing securities [Member]
Assets:
Total available-for-sale investments	0		0
Fair Value, Measurements, Recurring [Member] | Quoted prices in active markets for identical assets (Level 1) [Member] | Equity securities [Member]
Assets:
Total available-for-sale investments	175		144
Fair Value, Measurements, Recurring [Member] | Significant other observable inputs (Level 2) [Member]
Derivative Assets:
Interest rate swap contracts	50		46
Total assets	23,263		20,376
Derivative Liabilities:
Interest rate swap contracts	24		26
Contingent consideration obligations in connection with business combinations	0		0
Total liabilities	111		42
Fair Value, Measurements, Recurring [Member] | Significant other observable inputs (Level 2) [Member] | Foreign currency contracts [Member]
Derivative Assets:
Foreign currency contracts	238		360
Derivative Liabilities:
Foreign currency contracts	7		4
Fair Value, Measurements, Recurring [Member] | Significant other observable inputs (Level 2) [Member] | Cross currency swap contracts [Member]
Derivative Assets:
Foreign currency contracts	22		32
Derivative Liabilities:
Foreign currency contracts	80		12
Fair Value, Measurements, Recurring [Member] | Significant other observable inputs (Level 2) [Member] | U.S. Treasury securities [Member]
Assets:
Total available-for-sale investments	0		0
Fair Value, Measurements, Recurring [Member] | Significant other observable inputs (Level 2) [Member] | Other government-related debt securities - U.S. [Member]
Assets:
Total available-for-sale investments	551		528
Fair Value, Measurements, Recurring [Member] | Significant other observable inputs (Level 2) [Member] | Other government-related debt securities - Foreign and other [Member]
Assets:
Total available-for-sale investments	1,723		1,569
Fair Value, Measurements, Recurring [Member] | Significant other observable inputs (Level 2) [Member] | Corporate debt securities - Financial [Member]
Assets:
Total available-for-sale investments	7,426		6,041
Fair Value, Measurements, Recurring [Member] | Significant other observable inputs (Level 2) [Member] | Corporate debt securities - Industrial [Member]
Assets:
Total available-for-sale investments	7,629		6,351
Fair Value, Measurements, Recurring [Member] | Significant other observable inputs (Level 2) [Member] | Corporate debt securities - Other [Member]
Assets:
Total available-for-sale investments	829		649
Fair Value, Measurements, Recurring [Member] | Significant other observable inputs (Level 2) [Member] | Residential mortgage-backed securities [Member]
Assets:
Total available-for-sale investments	1,497		1,702
Fair Value, Measurements, Recurring [Member] | Significant other observable inputs (Level 2) [Member] | Other mortgage- and asset-backed securities [Member]
Assets:
Total available-for-sale investments	2,014		1,796
Fair Value, Measurements, Recurring [Member] | Significant other observable inputs (Level 2) [Member] | Money market mutual funds [Member]
Assets:
Total available-for-sale investments	0		0
Fair Value, Measurements, Recurring [Member] | Significant other observable inputs (Level 2) [Member] | Other short-term interest-bearing securities [Member]
Assets:
Total available-for-sale investments	1,284		1,302
Fair Value, Measurements, Recurring [Member] | Significant other observable inputs (Level 2) [Member] | Equity securities [Member]
Assets:
Total available-for-sale investments	0		0
Fair Value, Measurements, Recurring [Member] | Significant unobservable inputs (Level 3) [Member]
Derivative Assets:
Interest rate swap contracts	0		0
Total assets	0		0
Derivative Liabilities:
Interest rate swap contracts	0		0
Contingent consideration obligations in connection with business combinations	215	$ 215	215	$ 610	$ 596	$ 595
Total liabilities	215		215
Fair Value, Measurements, Recurring [Member] | Significant unobservable inputs (Level 3) [Member] | Foreign currency contracts [Member]
Derivative Assets:
Foreign currency contracts	0		0
Derivative Liabilities:
Foreign currency contracts	0		0
Fair Value, Measurements, Recurring [Member] | Significant unobservable inputs (Level 3) [Member] | Cross currency swap contracts [Member]
Derivative Assets:
Foreign currency contracts	0		0
Derivative Liabilities:
Foreign currency contracts	0		0
Fair Value, Measurements, Recurring [Member] | Significant unobservable inputs (Level 3) [Member] | U.S. Treasury securities [Member]
Assets:
Total available-for-sale investments	0		0
Fair Value, Measurements, Recurring [Member] | Significant unobservable inputs (Level 3) [Member] | Other government-related debt securities - U.S. [Member]
Assets:
Total available-for-sale investments	0		0
Fair Value, Measurements, Recurring [Member] | Significant unobservable inputs (Level 3) [Member] | Other government-related debt securities - Foreign and other [Member]
Assets:
Total available-for-sale investments	0		0
Fair Value, Measurements, Recurring [Member] | Significant unobservable inputs (Level 3) [Member] | Corporate debt securities - Financial [Member]
Assets:
Total available-for-sale investments	0		0
Fair Value, Measurements, Recurring [Member] | Significant unobservable inputs (Level 3) [Member] | Corporate debt securities - Industrial [Member]
Assets:
Total available-for-sale investments	0		0
Fair Value, Measurements, Recurring [Member] | Significant unobservable inputs (Level 3) [Member] | Corporate debt securities - Other [Member]
Assets:
Total available-for-sale investments	0		0
Fair Value, Measurements, Recurring [Member] | Significant unobservable inputs (Level 3) [Member] | Residential mortgage-backed securities [Member]
Assets:
Total available-for-sale investments	0		0
Fair Value, Measurements, Recurring [Member] | Significant unobservable inputs (Level 3) [Member] | Other mortgage- and asset-backed securities [Member]
Assets:
Total available-for-sale investments	0		0
Fair Value, Measurements, Recurring [Member] | Significant unobservable inputs (Level 3) [Member] | Money market mutual funds [Member]
Assets:
Total available-for-sale investments	0		0
Fair Value, Measurements, Recurring [Member] | Significant unobservable inputs (Level 3) [Member] | Other short-term interest-bearing securities [Member]
Assets:
Total available-for-sale investments	0		0
Fair Value, Measurements, Recurring [Member] | Significant unobservable inputs (Level 3) [Member] | Equity securities [Member]
Assets:
Total available-for-sale investments	$ 0		$ 0

Fair value measurement (Changes

Fair value measurement (Changes in Contingent Consideration Obligation) (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Business Combination, Contingent Consideration [Roll Forward]
Beginning balance			$ 215
Ending balance	$ 215		215
Significant unobservable inputs (Level 3) [Member]
Business Combination, Contingent Consideration [Roll Forward]
Beginning balance	215	$ 596	215	$ 595
Net changes in valuation	0	14	0	15
Ending balance	$ 215	$ 610	$ 215	$ 610

Fair value measurements (Detail

Fair value measurements (Details Textual)	3 Months Ended	6 Months Ended		12 Months Ended
	Mar. 31, 2015USD ($)	Jun. 30, 2015USD ($)payment	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)	Mar. 31, 2011USD ($)
Business Acquisition [Line Items]
Length of time hedged in foreign currency contracts (or less)		3 years
Payment of contingent consideration obligation		$ 225,000,000	$ 0
Fair Value Measurement (Textual) [Abstract]
Aggregate fair value of long-term debt, including current portion		33,600,000,000		$ 33,600,000,000
Carrying value of long-term debt, including current portion		31,952,000,000		30,715,000,000
BioVex Group Inc [Member]
Business Acquisition [Line Items]
Maximum additional consideration due contingent on milestones					$ 575,000,000
BioVex Group Inc [Member] | Due to Filing of BLA in the US [Member]
Business Acquisition [Line Items]
Payment of contingent consideration obligation				$ 125,000,000
BioVex Group Inc [Member] | Upon First Commercial Sale in the US [Member]
Business Acquisition [Line Items]
Additional contingent consideration upon achievement of milestones		125,000,000
BioVex Group Inc [Member] | Upon Achievement of Agreed Level of Worldwide Sales [Member]
Business Acquisition [Line Items]
Additional contingent consideration upon achievement of milestones		125,000,000
BioVex Group Inc [Member] | Upon Achievement of Certain Other Regulatory and Sales-related Milestones [Member]
Business Acquisition [Line Items]
Additional contingent consideration upon achievement of milestones		200,000,000
Onyx Pharmaceuticals, Inc. [Member]
Business Acquisition [Line Items]
Payment of contingent consideration obligation	$ 225,000,000
Additional contingent consideration upon achievement of milestones		$ 150,000,000
Number of milestone payments | payment		2
Other Government-related and Corporate Debt Securities [Member]
Business Acquisition [Line Items]
Investment maturity period		5 years

Derivative instruments (Cross-c

Derivative instruments (Cross-currency Swaps) (Details) - Jun. 30, 2015 - Cash flow hedge [Member] - Cross currency swap contracts [Member] € in Millions, £ in Millions, $ in Millions	USD ($)	EUR (€)	GBP (£)
2.125% euro denominated notes due 2019 (2.125% 2019 euro Notes) [Member]
Derivative [Line Items]
Notional amount	$ 864	€ 675
2.125% euro denominated notes due 2019 (2.125% 2019 euro Notes) [Member] | Interest rate received [Member]
Derivative [Line Items]
Interest rate	2.125%	2.125%	2.125%
2.125% euro denominated notes due 2019 (2.125% 2019 euro Notes) [Member] | Interest rate paid [Member]
Derivative [Line Items]
Interest rate	2.60%	2.60%	2.60%
5.50% pound sterling denominated notes due 2026 (5.50% 2026 pound sterling Notes) [Member]
Derivative [Line Items]
Notional amount	$ 747		£ 475
5.50% pound sterling denominated notes due 2026 (5.50% 2026 pound sterling Notes) [Member] | Interest rate received [Member]
Derivative [Line Items]
Interest rate	5.50%	5.50%	5.50%
5.50% pound sterling denominated notes due 2026 (5.50% 2026 pound sterling Notes) [Member] | Interest rate paid [Member]
Derivative [Line Items]
Interest rate	6.00%	6.00%	6.00%
4.00% pound sterling denominated notes due 2029 (4.00% 2029 pound sterling Notes) [Member]
Derivative [Line Items]
Notional amount	$ 1,111		£ 700
4.00% pound sterling denominated notes due 2029 (4.00% 2029 pound sterling Notes) [Member] | Interest rate received [Member]
Derivative [Line Items]
Interest rate	4.00%	4.00%	4.00%
4.00% pound sterling denominated notes due 2029 (4.00% 2029 pound sterling Notes) [Member] | Interest rate paid [Member]
Derivative [Line Items]
Interest rate	4.50%	4.50%	4.50%

Derivative instruments (Effecti

Derivative instruments (Effective Potion of Unrealized Gain (Loss)) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Effective portion of the unrealized gain (loss) recognized in Other Comprehensive Income for our derivative instruments designated as cash flow hedges
Unrealized gain (loss) on derivative instruments recognized in Other Comprehensive Income, effective portion, net	$ 44	$ 8	$ 212	$ 25
Foreign currency contracts [Member]
Effective portion of the unrealized gain (loss) recognized in Other Comprehensive Income for our derivative instruments designated as cash flow hedges
Unrealized gain (loss) on derivative instruments recognized in Other Comprehensive Income, effective portion, net	(99)	(13)	293	0
Cross currency swap contracts [Member]
Effective portion of the unrealized gain (loss) recognized in Other Comprehensive Income for our derivative instruments designated as cash flow hedges
Unrealized gain (loss) on derivative instruments recognized in Other Comprehensive Income, effective portion, net	$ 143	$ 21	$ (81)	$ 25

Derivative instruments (Locatio

Derivative instruments (Locations and Effective Potions of Gain (Loss) Reclassified out of AOCI) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Derivative Instruments Gain Loss [Line Items]
Product sales	$ 5,225	$ 4,949	$ 10,099	$ 9,305
Interest and other income, net	198	138	304	237
Interest expense, net	(277)	(282)	(529)	(541)
Income before income taxes	1,997	1,758	3,873	2,962
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Derivative Instruments Gain Loss [Line Items]
Product sales	91	0	160	0
Interest and other income, net	136	48	(47)	62
Interest expense, net	(1)	0	(1)	0
Income before income taxes	226	48	112	62
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Cash flow hedge [Member]
Derivative Instruments Gain Loss [Line Items]
Income before income taxes	226	48	112	62
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Cash flow hedge [Member] | Foreign currency contracts [Member]
Derivative Instruments Gain Loss [Line Items]
Product sales	91	0	160	0
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Cash flow hedge [Member] | Cross currency swap contracts [Member]
Derivative Instruments Gain Loss [Line Items]
Interest and other income, net	136	48	(47)	62
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Cash flow hedge [Member] | Forward interest rate contracts [Member]
Derivative Instruments Gain Loss [Line Items]
Interest expense, net	$ (1)	$ 0	$ (1)	$ 0

Derivative instruments (Locat57

Derivative instruments (Locations and Gain (Loss) for Derivatives Not Designated as Hedging Instruments) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Foreign currency contracts [Member] | Interest and other income, net [Member]
Location in the Condensed Consolidated Statements of Income and the amount of gain (loss) recognized in earnings for our derivative instruments not designated as hedging instruments
Amount of gain (loss) recognized in interest and other income, net	$ 20	$ (14)	$ (9)	$ (12)

Derivative instruments (Details

Derivative instruments (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Assets
Total derivative assets, fair value	$ 310	$ 438
Liabilities
Total derivative liabilities, fair value	111	42
Derivatives designated as hedging instrument [Member]
Assets
Total derivative assets, fair value	306	434
Liabilities
Total derivative liabilities, fair value	107	38
Derivatives designated as hedging instrument [Member] | Cross currency swap contracts [Member] | Other current assets/Other noncurrent assets [Member]
Assets
Total derivative assets, fair value	22	32
Derivatives designated as hedging instrument [Member] | Cross currency swap contracts [Member] | Accrued liabilities/Other noncurrent liabilities [Member]
Liabilities
Total derivative liabilities, fair value	80	12
Derivatives designated as hedging instrument [Member] | Foreign currency contracts [Member] | Other current assets/Other noncurrent assets [Member]
Assets
Total derivative assets, fair value	234	356
Derivatives designated as hedging instrument [Member] | Foreign currency contracts [Member] | Accrued liabilities/Other noncurrent liabilities [Member]
Liabilities
Total derivative liabilities, fair value	3	0
Derivatives designated as hedging instrument [Member] | Interest rate swap contracts [Member] | Other current assets/Other noncurrent assets [Member]
Assets
Total derivative assets, fair value	50	46
Derivatives designated as hedging instrument [Member] | Interest rate swap contracts [Member] | Accrued liabilities/Other noncurrent liabilities [Member]
Liabilities
Total derivative liabilities, fair value	24	26
Derivatives not designated as hedging instrument [Member]
Assets
Total derivative assets, fair value	4	4
Liabilities
Total derivative liabilities, fair value	4	4
Derivatives not designated as hedging instrument [Member] | Foreign currency contracts [Member] | Other current assets [Member]
Assets
Total derivative assets, fair value	4	4
Derivatives not designated as hedging instrument [Member] | Foreign currency contracts [Member] | Accrued liabilities [Member]
Liabilities
Total derivative liabilities, fair value	$ 4	$ 4

Derivative instruments (Detai59

Derivative instruments (Details Textual) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Derivative Instruments Gain Loss [Line Items]
Length of time hedged in foreign currency contracts			3 years
Interest expense, net [Member]
Derivative Instruments Gain Loss [Line Items]
Unrealized gain (loss) on the hedged debt	$ 83	$ (63)	$ (6)	$ (125)
Unrealized gain (loss) on interest rate swaps	(83)	$ 63	6	$ 125
Foreign currency forward contracts [Member]
Derivative Instruments Gain Loss [Line Items]
Notional amount of terminated derivatives	1,700
Foreign currency forward contracts [Member] | Net cash provided by operating activities [Member]
Derivative Instruments Gain Loss [Line Items]
Proceeds from counterparties on termination of derivatives	247
Foreign currency forward contracts [Member] | Derivatives designated as hedging instrument [Member]
Derivative Instruments Gain Loss [Line Items]
Derivative, notional amount	3,200		3,200		$ 3,800
Foreign currency forward contracts [Member] | Derivatives not designated as hedging instrument [Member]
Derivative Instruments Gain Loss [Line Items]
Derivative, notional amount	928		928		875
Foreign currency option contracts [Member] | Derivatives designated as hedging instrument [Member]
Derivative Instruments Gain Loss [Line Items]
Derivative, notional amount	382		382		271
Foreign currency and cross currency swap contracts [Member]
Derivative Instruments Gain Loss [Line Items]
Amounts expected to be reclassified from AOCI into earnings over the next 12 months	427		427
Forward interest rate contracts [Member]
Derivative Instruments Gain Loss [Line Items]
Amounts expected to be reclassified from AOCI into earnings over the next 12 months	(1)		(1)
Interest rate swap [Member] | Derivatives designated as hedging instrument [Member]
Derivative Instruments Gain Loss [Line Items]
Derivative, notional amount	$ 6,650		$ 6,650		$ 6,650
Rate adjustment to LIBOR on interest rate swap agreements [Member] | LIBOR [Member]
Derivative Instruments Gain Loss [Line Items]
Derivative lower range variable interest rate	0.40%		0.40%
Derivative higher range variable interest rate	2.00%		2.00%