Amgen (AMGN) 10-Q 27 Apr 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	Apr. 18, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	Amgen Inc.
Entity Central Index Key	318,154
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Amendment Flag	false
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		735,399,128

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenues:
Product sales	$ 5,199	$ 5,239
Other revenues	265	288
Total revenues	5,464	5,527
Operating expenses:
Cost of sales	996	1,018
Research and development	769	872
Selling, general and administrative	1,064	1,203
Other	44	32
Total operating expenses	2,873	3,125
Operating income	2,591	2,402
Interest expense, net	326	294
Interest and other income, net	195	150
Income before income taxes	2,460	2,258
Provision for income taxes	389	358
Net income	$ 2,071	$ 1,900
Earnings per share:
Basic (in usd per share)	$ 2.81	$ 2.52
Diluted (in usd per share)	$ 2.79	$ 2.50
Shares used in calculation of earnings per share:
Basic (in shares)	737	753
Diluted (in shares)	741	760
Dividends paid per share (in usd per share)	$ 1.15	$ 1

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 2,071	$ 1,900
Other comprehensive income (loss), net of reclassification adjustments and taxes:
Foreign currency translation gains	24	33
Effective portion of cash flow hedges	(73)	(179)
Net unrealized gains on available-for-sale securities	158	358
Other comprehensive income, net of taxes	109	212
Comprehensive income	$ 2,180	$ 2,112

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 3,358	$ 3,241
Marketable securities	35,040	34,844
Trade receivables, net	3,248	3,165
Inventories	2,871	2,745
Other current assets	1,939	2,015
Total current assets	46,456	46,010
Property, plant and equipment, net	4,960	4,961
Intangible assets, net	9,922	10,279
Goodwill	14,757	14,751
Other assets	1,767	1,625
Total assets	77,862	77,626
Current liabilities:
Accounts payable	902	917
Accrued liabilities	5,822	5,884
Current portion of long-term debt	3,799	4,403
Total current liabilities	10,523	11,204
Long-term debt	30,293	30,193
Long-term deferred tax liabilities	2,370	2,436
Long-term tax liabilities	2,542	2,419
Other noncurrent liabilities	1,497	1,499
Contingencies and commitments
Stockholders’ equity:
Common stock and additional paid-in capital; $0.0001 par value; 2,750.0 shares authorized; outstanding — 736.1 shares in 2017 and 738.2 shares in 2016	30,766	30,784
Retained earnings (accumulated deficit)	233	(438)
Accumulated other comprehensive loss	(362)	(471)
Total stockholders’ equity	30,637	29,875
Total liabilities and stockholders’ equity	$ 77,862	$ 77,626

Condensed Consolidated Balance5

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares shares in Millions	Mar. 31, 2017	Dec. 31, 2016
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	2,750
Common stock and additional paid-in capital, shares outstanding	736.1	738.2

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities:
Net income	$ 2,071	$ 1,900
Depreciation and amortization	524	521
Share-based compensation expense	60	52
Deferred income taxes	(77)	(68)
Other items, net	15	135
Changes in operating assets and liabilities:
Trade receivables, net	(47)	(98)
Inventories	(125)	(133)
Other assets	(155)	(249)
Accounts payable	(20)	(150)
Accrued income taxes	268	(6)
Other liabilities	(129)	11
Net cash provided by operating activities	2,385	1,915
Cash flows from investing activities:
Purchases of property, plant and equipment	(168)	(156)
Purchases of marketable securities	(7,077)	(8,595)
Proceeds from sales of marketable securities	5,612	3,898
Proceeds from maturities of marketable securities	1,528	458
Other	(52)	5
Net cash used in investing activities	(157)	(4,390)
Cash flows from financing activities:
Net proceeds from issuance of debt	0	2,909
Repayment of debt	(605)	(125)
Repurchases of common stock	(586)	(676)
Dividends paid	(847)	(752)
Other	(73)	(129)
Net cash (used in) provided by financing activities	(2,111)	1,227
Increase (decrease) in cash and cash equivalents	117	(1,248)
Cash and cash equivalents at beginning of period	3,241	4,144
Cash and cash equivalents at end of period	$ 3,358	$ 2,896

Summary of significant accounti

Summary of significant accounting policies	3 Months Ended
	Mar. 31, 2017
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 months ended March 31, 2017 and 2016 , 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, 2016 . 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 U.S. generally accepted accounting principles (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 $7.6 billion and $7.5 billion as of March 31, 2017 , and December 31, 2016 , respectively. Recent accounting pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued a new accounting standard that amends the guidance for the recognition of revenue from contracts with customers to transfer goods and services. The FASB has subsequently issued additional, clarifying standards to address issues arising from implementation of the new revenue recognition standard. The new revenue recognition standard and clarifying standards are effective for interim and annual periods beginning on January 1, 2018, but could have been adopted early beginning January 1, 2017. The new standards are required to be adopted using either a full retrospective or a modified retrospective approach. We expect to adopt this standard using the modified retrospective approach beginning in 2018. We have substantially completed our impact assessment and do not currently anticipate a material impact to our Total revenues. We continue to review the impact that this new standard will have on collaborations and license arrangements, as well as our financial statement disclosures. As we complete our assessment, we are also identifying and preparing to implement changes to our accounting policies, business processes, and internal controls to support the new accounting and disclosure requirements. In January 2016, the FASB issued a new accounting standard that amends the accounting and disclosures of financial instruments, including a provision that requires equity investments (except for investments accounted for under the equity method of accounting) to be measured at fair value, with changes in fair value recognized in current earnings. The new standard is effective for interim and annual periods beginning on January 1, 2018. The impact that this new standard will have on our consolidated financial statements is dependent on the fair value of available-for-sale securities in our portfolio in the future. See Note 5, Available-for-sale investments, for the fair value of equity securities as of March 31, 2017. In February 2016, the FASB issued a new accounting standard that amends the guidance for the accounting and disclosure of leases. This new standard requires that lessees recognize the assets and liabilities that arise from leases on the balance sheet, including leases classified as operating leases under current GAAP, and disclose qualitative and quantitative information about leasing arrangements. The new standard requires a modified retrospective approach to adoption and is effective for interim and annual periods beginning on January 1, 2019, but may be adopted earlier. We expect to adopt this standard beginning in 2019. We continue to evaluate the impact that this new standard will have on our consolidated financial statements, including related disclosures, as well as our business processes and systems, accounting policies and internal controls. We do not expect that this standard will have a material impact to our Consolidated Statements of Income, but we do expect that upon adoption, this standard will have a material impact to our assets and liabilities on our Consolidated Balance Sheets, as well as our systems and processes. In June 2016, the FASB issued a new accounting standard that amends the guidance for measuring and recording credit losses on financial assets measured at amortized cost by replacing the “incurred loss” model with an “expected loss” model. Accordingly, these financial assets will be presented at the net amount expected to be collected. This new standard also requires that credit losses related to available-for-sale debt securities be recorded through an allowance for such losses rather than reducing the carrying amount under the current, other-than-temporary-impairment model. The new standard is effective for interim and annual periods beginning on January 1, 2020. We are currently evaluating the impact that this new standard will have on our consolidated financial statements. In January 2017, the FASB issued a new accounting standard that changes the definition of a business to assist entities with evaluating when a set of assets acquired or disposed of should be considered a business. The new standard requires an entity to evaluate if substantially all the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets; if so, the set would not be considered a business. The new standard also requires a business to include at least one substantive process and narrows the definition of outputs. We expect that these provisions will reduce the number of transactions that will be considered a business. The new standard is effective for interim and annual periods beginning on January 1, 2018, and may be adopted earlier. We expect to adopt this standard beginning in 2018. The standard would be applied prospectively to any transaction occurring on or after the adoption date. We are currently evaluating the impact that this new standard will have on our consolidated financial statements.

Restructuring

Restructuring	3 Months Ended
	Mar. 31, 2017
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring In 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 have closed facilities in Washington State and Colorado and are 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 we will incur $800 million to $900 million of pre-tax charges in connection with our restructuring, 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 $265 million to $315 million consisting primarily of asset impairments, accelerated depreciation and other related costs resulting from the consolidation of our worldwide facilities. Through March 31, 2017 , we have incurred a total of $511 million of separation and other headcount-related costs and $237 million of net asset-related charges. The amounts related to the restructuring recorded in the Condensed Consolidated Statements of Income during the three months ended March 31, 2017 and 2016 , were not significant. As of March 31, 2017 , the total restructuring liability was not significant.

Income taxes

Income taxes	3 Months Ended
	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Income taxes	Income taxes The effective tax rate for the three months ended March 31, 2017 , was 15.8% compared with 15.9% for the corresponding period of the prior year. The effective rates differ from the federal statutory rates primarily as a result of indefinitely invested 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 the United States. The decrease in our effective tax rate for the three months ended March 31, 2017 , was due primarily to the favorable tax impact of changes in the jurisdictional mix of income and expenses, offset partially by lower tax benefits from share-based compensation payments. The U.S. territory of Puerto Rico imposes an excise tax on the gross intercompany purchase price of goods and services from our manufacturer in Puerto Rico. The rate is 4% and is effective through December 31, 2027. 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 deductions, the use of tax credits and allocations of income and expenses among various tax jurisdictions because of differing interpretations of tax laws, regulations and the interpretation of the relevant facts. During the three months ended March 31, 2017 , we received Notices of Proposed Adjustment from the Internal Revenue Service (IRS) for the years 2010, 2011, and 2012. The significant proposed adjustments relate primarily to the allocation of profits between certain of our entities in the United States and the U.S. territory of Puerto Rico and allocate additional profits to the United States. On April 12, 2017, we received a Revenue Agent’s Report from the IRS for the years 2010, 2011, and 2012 that included the proposed adjustments. We disagree with the proposed adjustments and plan to initiate the administrative appeals process, which will likely not be concluded within the next 12 months. Final resolution of the IRS audit could have a material impact on our results of operations and cash flows if not resolved favorably, however, we believe our income tax reserves are appropriately provided for all open tax years. We are no longer subject to U.S. federal income tax examinations for years ended on or before December 31, 2009. In addition, we are currently under examination by a number of other state and foreign tax jurisdictions. During the three months ended March 31, 2017 , the gross amount of our unrecognized tax benefits (UTBs) increased by approximately $115 million , as a result of tax positions taken during the current year. Substantially all of the UTBs as of March 31, 2017 , if recognized, would affect our effective tax rate.

Earnings per share

Earnings per share	3 Months Ended
	Mar. 31, 2017
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 primarily shares that may be issued under our stock option, restricted stock and performance unit award programs, as 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 2017 2016 Income (Numerator): Net income for basic and diluted EPS $ 2,071 $ 1,900 Shares (Denominator): Weighted-average shares for basic EPS 737 753 Effect of dilutive securities 4 7 Weighted-average shares for diluted EPS 741 760 Basic EPS $ 2.81 $ 2.52 Diluted EPS $ 2.79 $ 2.50 For the three months ended March 31, 2017 and 2016 , the number of anti-dilutive employee share-based awards excluded from the computation of diluted EPS was not significant.

Available-for-sale investments

Available-for-sale investments	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017 Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value U.S. Treasury securities $ 6,915 $ 4 $ (30 ) $ 6,889 Other government-related debt securities: U.S. 240 — (1 ) 239 Foreign and other 1,819 20 (13 ) 1,826 Corporate debt securities: Financial 8,549 34 (19 ) 8,564 Industrial 8,763 62 (34 ) 8,791 Other 1,111 6 (5 ) 1,112 Residential mortgage-backed securities 1,766 1 (27 ) 1,740 Other mortgage- and asset-backed securities 1,811 2 (12 ) 1,801 Money market mutual funds 2,891 — — 2,891 Other short-term interest-bearing securities 4,080 — — 4,080 Total interest-bearing securities 37,945 129 (141 ) 37,933 Equity securities 133 47 — 180 Total available-for-sale investments $ 38,078 $ 176 $ (141 ) $ 38,113 Type of security as of December 31, 2016 Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value U.S. Treasury securities $ 6,681 $ 1 $ (68 ) $ 6,614 Other government-related debt securities: U.S. 302 — (3 ) 299 Foreign and other 1,784 9 (34 ) 1,759 Corporate debt securities: Financial 8,476 21 (37 ) 8,460 Industrial 8,793 59 (63 ) 8,789 Other 1,079 5 (7 ) 1,077 Residential mortgage-backed securities 1,968 1 (29 ) 1,940 Other mortgage- and asset-backed securities 1,731 1 (13 ) 1,719 Money market mutual funds 2,782 — — 2,782 Other short-term interest-bearing securities 4,188 — — 4,188 Total interest-bearing securities 37,784 97 (254 ) 37,627 Equity securities 127 31 (4 ) 154 Total available-for-sale investments $ 37,911 $ 128 $ (258 ) $ 37,781 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 March 31, December 31, Cash and cash equivalents $ 2,893 $ 2,783 Marketable securities 35,040 34,844 Other assets — noncurrent 180 154 Total available-for-sale investments $ 38,113 $ 37,781 Cash and cash equivalents in the above table excludes bank account cash of $465 million and $458 million as of March 31, 2017 and December 31, 2016 , 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 March 31, December 31, Maturing in one year or less $ 8,751 $ 8,393 Maturing after one year through three years 10,952 10,404 Maturing after three years through five years 11,868 12,157 Maturing after five years through ten years 2,757 2,974 Maturing after ten years 64 40 Mortgage- and asset-backed securities 3,541 3,659 Total interest-bearing securities $ 37,933 $ 37,627 For the three months ended March 31, 2017 and 2016 , realized gains totaled $35 million and $37 million , respectively, and realized losses totaled $84 million and $67 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 March 31, 2017 Fair value Unrealized losses Fair value Unrealized losses U.S. Treasury securities $ 5,117 $ (30 ) $ — $ — Other government-related debt securities: U.S. 170 (1 ) — — Foreign and other 792 (13 ) 13 — Corporate debt securities: Financial 2,500 (19 ) 23 — Industrial 3,194 (33 ) 72 (1 ) Other 462 (5 ) 5 — Residential mortgage-backed securities 1,503 (25 ) 132 (2 ) Other mortgage- and asset-backed securities 1,063 (9 ) 113 (3 ) Equity securities 25 — — — Total $ 14,826 $ (135 ) $ 358 $ (6 ) Less than 12 months 12 months or greater Type of security as of December 31, 2016 Fair value Unrealized losses Fair value Unrealized losses U.S. Treasury securities $ 5,774 $ (68 ) $ — $ — Other government-related debt securities: U.S. 201 (3 ) — — Foreign and other 1,192 (34 ) 17 — Corporate debt securities: Financial 3,975 (37 ) 44 — Industrial 3,913 (61 ) 149 (2 ) Other 486 (7 ) 7 — Residential mortgage-backed securities 1,631 (26 ) 158 (3 ) Other mortgage- and asset-backed securities 1,087 (10 ) 118 (3 ) Equity securities 22 (4 ) — — Total $ 18,281 $ (250 ) $ 493 $ (8 ) 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 it 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. The 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 based on new developments or changes in assumptions related to that particular security. As of March 31, 2017 and December 31, 2016 , we believe the cost bases for our available-for-sale investments were recoverable in all material respects.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2017
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consisted of the following (in millions): March 31, December 31, Raw materials $ 216 $ 225 Work in process 1,496 1,608 Finished goods 1,159 912 Total inventories $ 2,871 $ 2,745

Goodwill and other intangible a

Goodwill and other intangible assets	3 Months Ended
	Mar. 31, 2017
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): Three months ended March 31, 2017 2016 Beginning balance $ 14,751 $ 14,787 Goodwill related to acquisitions of businesses (1) — 2 Currency translation adjustments 6 15 Ending balance $ 14,757 $ 14,804 (1) Consists 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): March 31, 2017 December 31, 2016 Gross carrying amount Accumulated amortization Intangible assets, net Gross carrying amount Accumulated amortization Intangible assets, net Finite-lived intangible assets: Developed product technology rights $ 12,548 $ (6,191 ) $ 6,357 $ 12,534 $ (5,947 ) $ 6,587 Licensing rights 3,275 (1,375 ) 1,900 3,275 (1,300 ) 1,975 Marketing-related rights 1,331 (829 ) 502 1,333 (793 ) 540 Research and development technology rights 1,133 (729 ) 404 1,122 (704 ) 418 Total finite-lived intangible assets 18,287 (9,124 ) 9,163 18,264 (8,744 ) 9,520 Indefinite-lived intangible assets: In-process research and development 759 — 759 759 — 759 Total identifiable intangible assets $ 19,046 $ (9,124 ) $ 9,922 $ 19,023 $ (8,744 ) $ 10,279 Developed product technology rights consist of rights related to marketed products acquired in business combinations. Licensing rights consist 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. Marketing-related intangible assets consist primarily of rights related to the sale and distribution of marketed products. Research and development (R&D) technology rights consist of technology used in R&D with alternative future uses. In-process research and development (IPR&D) consists of R&D projects acquired in a business combination that are not complete at the time of acquisition due to remaining technological risks and/or lack of receipt of required regulatory approvals. As of March 31, 2017, the projects include primarily AMG 899 (formerly TA-8995), acquired in the acquisition of Dezima Pharma B.V. (Dezima) in 2015 and oprozomib, acquired in the acquisition of Onyx Pharmaceuticals, Inc. in 2013. The valuation of AMG 899 reflects delayed development pending competitor clinical trials in the class. Information from these trials is expected in the second quarter of 2017. All IPR&D projects have 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 permitted to market a human therapeutic without obtaining regulatory approvals, and such approvals require our 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, as well as competitive product launches, 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. We review IPR&D projects for impairment annually, whenever events or changes in circumstances indicate that the carrying amount may not be recoverable and upon the establishment of technological feasibility or regulatory approval. During the three months ended March 31, 2017 and 2016 , we recognized amortization charges associated with our finite-lived intangible assets of $373 million and $369 million , respectively. The total estimated amortization charges for our finite-lived intangible assets for the remaining nine months ending December 31, 2017 , and the years ending December 31, 2018 , 2019 , 2020 , 2021 and 2022 , are $1.0 billion , $1.2 billion , $1.1 billion , $1.1 billion , $0.9 billion and $0.9 billion , respectively.

Financing arrangements

Financing arrangements	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Financing arrangements	Financing arrangements The carrying values and the fixed contractual coupon rates of our borrowings were as follows (in millions): March 31, December 31, Short-term loan $ — $ 605 2.125% notes due 2017 (2.125% 2017 Notes) 1,250 1,250 Floating Rate Notes due 2017 600 600 1.25% notes due 2017 (1.25% 2017 Notes) 850 850 5.85% notes due 2017 (5.85% 2017 Notes) 1,100 1,100 6.15% notes due 2018 (6.15% 2018 Notes) 500 500 4.375% €550 million notes due 2018 (4.375% 2018 euro Notes) 598 577 5.70% notes due 2019 (5.70% 2019 Notes) 1,000 1,000 Floating Rate Notes due 2019 250 250 2.20% notes due 2019 (2.20% 2019 Notes) 1,400 1,400 2.125% €675 million notes due 2019 (2.125% 2019 euro Notes) 719 710 4.50% notes due 2020 (4.50% 2020 Notes) 300 300 2.125% notes due 2020 (2.125% 2020 Notes) 750 750 3.45% notes due 2020 (3.45% 2020 Notes) 900 900 4.10% notes due 2021 (4.10% 2021 Notes) 1,000 1,000 1.85% notes due 2021 (1.85% 2021 Notes) 750 750 3.875% notes due 2021 (3.875% 2021 Notes) 1,750 1,750 1.25% €1,250 million notes due 2022 (1.25% 2022 euro Notes) 1,332 1,315 2.70% notes due 2022 (2.70% 2022 Notes) 500 500 3.625% notes due 2022 (3.625% 2022 Notes) 750 750 0.41% CHF700 million bonds due 2023 (0.41% 2023 Swiss franc Bonds) 698 687 2.25% notes due 2023 (2.25% 2023 Notes) 750 750 3.625% notes due 2024 (3.625% 2024 Notes) 1,400 1,400 3.125% notes due 2025 (3.125% 2025 Notes) 1,000 1,000 2.00% €750 million notes due 2026 (2.00% 2026 euro Notes) 799 789 2.60% notes due 2026 (2.60% 2026 notes) 1,250 1,250 5.50% £475 million notes due 2026 (5.50% 2026 pound sterling Notes) 596 586 4.00% £700 million notes due 2029 (4.00% 2029 pound sterling Notes) 879 864 6.375% notes due 2037 (6.375% 2037 Notes) 552 552 6.90% notes due 2038 (6.90% 2038 Notes) 291 291 6.40% notes due 2039 (6.40% 2039 Notes) 466 466 5.75% notes due 2040 (5.75% 2040 Notes) 412 412 4.95% notes due 2041 (4.95% 2041 Notes) 600 600 5.15% notes due 2041 (5.15% 2041 Notes) 974 974 5.65% notes due 2042 (5.65% 2042 Notes) 487 487 5.375% notes due 2043 (5.375% 2043 Notes) 261 261 4.40% notes due 2045 (4.40% 2045 Notes) 2,250 2,250 4.563% notes due 2048 (4.563% 2048 Notes) 1,415 1,415 4.663% notes due 2051 (4.663% 2051 Notes) 3,541 3,541 Other notes due 2097 100 100 Unamortized bond discounts, premiums and issuance costs, net (928 ) (936 ) Total carrying value of debt $ 34,092 $ 34,596 Less current portion (3,799 ) (4,403 ) Total noncurrent debt $ 30,293 $ 30,193 There are no material differences between the effective interest rates and coupon rates of any of our borrowings, except for the 4.563% 2048 Notes and the 4.663% 2051 Notes, which have effective interest rates of approximately 6.3% and 5.6% , respectively. Under the terms of all of our outstanding notes, except our Other notes, in the event of a change-in-control triggering event, we may be required to purchase all or a portion of these debt securities at a price equal to 101% of the principal amount of the notes plus accrued and unpaid interest. In addition, all of our outstanding notes, except for our floating rate notes, 0.41% 2023 Swiss franc Bonds and Other 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. Redemption of certain of our notes would also require the payment of a make-whole amount as defined by the terms of the notes, except if such redemption occurs during a specified period of time immediately prior to the maturity date of the notes. Such time periods generally range from one to six months prior to the maturity date. Debt repayments During the three months ended March 31, 2017 , we repaid the $ 605 million short-term loan.

Stockholders' equity

Stockholders' equity	3 Months Ended
	Mar. 31, 2017
Equity [Abstract]
Stockholders' equity	Stockholders’ equity Stock repurchase program Activity under our stock repurchase program, on a trade date basis, was as follows (in millions): 2017 2016 Shares Dollars Shares Dollars First quarter 3.4 $ 555 4.7 $ 690 As of March 31, 2017 , $3.5 billion remained available under our stock repurchase program. Dividends In March 2017, the Board of Directors declared a quarterly cash dividend of $1.15 per share of common stock, which will be paid in June 2017. In December 2016, the Board of Directors declared a quarterly cash dividend of $1.15 per share of common stock, which was paid in March 2017. Accumulated other comprehensive income/(loss) The components of accumulated other comprehensive income/(loss) (AOCI) were as follows (in millions): Foreign currency translation Cash flow hedges Available-for-sale securities Other AOCI Balance as of December 31, 2016 $ (610 ) $ 282 $ (138 ) $ (5 ) $ (471 ) Foreign currency translation adjustments 21 — — — 21 Unrealized gains — 17 116 — 133 Reclassification adjustments to income — (131 ) 49 — (82 ) Income taxes 3 41 (7 ) — 37 Balance as of March 31, 2017 $ (586 ) $ 209 $ 20 $ (5 ) $ (362 ) The reclassifications out of AOCI and into earnings were as follows (in millions): Amounts reclassified out of AOCI Components of AOCI Three months ended March 31, 2017 Three months ended March 31, 2016 Line item affected in the Condensed Consolidated Statements of Income Cash flow hedges: Foreign currency contract gains $ 57 $ 96 Product sales Cross-currency swap contract gains 74 70 Interest and other income, net 131 166 Income before income taxes (47 ) (61 ) Provision for income taxes $ 84 $ 105 Net income Available-for-sale securities: Net realized losses $ (49 ) $ (30 ) Interest and other income, net — — Provision for income taxes $ (49 ) $ (30 ) Net income

Fair value measurement

Fair value measurement	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Fair value measurement	Fair value measurement To estimate the fair value 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 an 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 an 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 March 31, 2017, using: Total Assets: Available-for-sale investments: U.S. Treasury securities $ 6,889 $ — $ — $ 6,889 Other government-related debt securities: U.S. — 239 — 239 Foreign and other — 1,826 — 1,826 Corporate debt securities: Financial — 8,564 — 8,564 Industrial — 8,791 — 8,791 Other — 1,112 — 1,112 Residential mortgage-backed securities — 1,740 — 1,740 Other mortgage- and asset-backed securities — 1,801 — 1,801 Money market mutual funds 2,891 — — 2,891 Other short-term interest-bearing securities — 4,080 — 4,080 Equity securities 180 — — 180 Derivatives: Foreign currency contracts — 148 — 148 Cross-currency swap contracts — 20 — 20 Interest rate swap contracts — 30 — 30 Total assets $ 9,960 $ 28,351 $ — $ 38,311 Liabilities: Derivatives: Foreign currency contracts $ — $ 15 $ — $ 15 Cross-currency swap contracts — 481 — 481 Interest rate swap contracts — 15 — 15 Contingent consideration obligations in connection with business combinations — — 184 184 Total liabilities $ — $ 511 $ 184 $ 695 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, 2016, using: Total Assets: Available-for-sale investments: U.S. Treasury securities $ 6,614 $ — $ — $ 6,614 Other government-related debt securities: U.S. — 299 — 299 Foreign and other — 1,759 — 1,759 Corporate debt securities: Financial — 8,460 — 8,460 Industrial — 8,789 — 8,789 Other — 1,077 — 1,077 Residential mortgage-backed securities — 1,940 — 1,940 Other mortgage- and asset-backed securities — 1,719 — 1,719 Money market mutual funds 2,782 — — 2,782 Other short-term interest-bearing securities — 4,188 — 4,188 Equity securities 154 — — 154 Derivatives: Foreign currency contracts — 203 — 203 Interest rate swap contracts — 41 — 41 Total assets $ 9,550 $ 28,475 $ — $ 38,025 Liabilities: Derivatives: Foreign currency contracts $ — $ 4 $ — $ 4 Cross-currency swap contracts — 523 — 523 Interest rate swap contracts — 7 — 7 Contingent consideration obligations in connection with business combinations — — 179 179 Total liabilities $ — $ 534 $ 179 $ 713 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 Moody’s Investors Service, Inc. (Moody’s) or Fitch Ratings Inc. (Fitch), and BBB+ or equivalent by Standard & Poor’s Financial Services LLC (S&P), and our corporate debt securities portfolio has a weighted-average credit rating of A- or equivalent by Fitch, and BBB + or equivalent by S&P or Moody’s. 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 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 or Moody’s. We estimate 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, London Interbank Offered Rates (LIBOR), swap rates and obligor credit default swap rates. In addition, inputs for our foreign currency option contracts include implied volatility measures. These inputs, where applicable, are at commonly quoted intervals. See Note 11, Derivative instruments. Our cross-currency swap contracts are with counterparties that have minimum credit ratings of A- or equivalent by S&P or Moody’s. We estimate 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 11, Derivative instruments. Our interest rate swap contracts are with counterparties that have minimum credit ratings of A- or equivalent by S&P or Moody’s. We estimate 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 As a result of our business acquisitions, we incurred contingent consideration obligations, as 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 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 that 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 the 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 2017 2016 Beginning balance $ 179 $ 188 Net changes in valuation 5 6 Ending balance $ 184 $ 194 As a result of our acquisition of Dezima in October 2015, we are obligated to pay its former shareholders up to $1.25 billion of additional consideration contingent upon achieving certain development and sales-related milestones and low single-digit royalties on net product sales above a certain threshold. The estimated fair values of the contingent consideration obligations had an aggregate value of $110 million at acquisition. As a result of our acquisition of BioVex Group, Inc. (BioVex), in 2011, we are obligated to pay its former shareholders up to $325 million of additional consideration contingent upon the achievement of certain sales thresholds related to IMLYGIC ® (talimogene laherparepvec) within specified periods of time. We estimate the fair values of the obligations to the former shareholders of Dezima and BioVex by using probability-adjusted discounted cash flows, and we review underlying key assumptions on a quarterly basis. There were no significant changes in the estimated aggregate fair values of contingent consideration obligations during the three months ended March 31, 2017 and 2016 . During the three months ended March 31, 2017 and 2016 , there were no transfers of assets or liabilities between 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 values of other financial instruments Cash equivalents The estimated fair values of cash equivalents approximate their carrying values due to the short-term nature of such 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 March 31, 2017 , and December 31, 2016 , the aggregate fair values of our long-term debt were $36.2 billion and $36.5 billion , respectively, and the carrying values were $34.1 billion and $34.6 billion , respectively.

Derivative instruments

Derivative instruments	3 Months Ended
	Mar. 31, 2017
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 corresponding increases and decreases in the cash flows from 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 March 31, 2017 and December 31, 2016 , we had open foreign currency forward contracts with notional amounts of $3.5 billion and $3.4 billion , respectively, and open foreign currency option contracts with notional amounts of $425 million and $608 million , respectively. We have designated these foreign currency forward and foreign currency option contracts, which are primarily euro based, as cash flow hedges; and accordingly, we report the effective portions of the unrealized gains and losses on these contracts in AOCI in the Condensed Consolidated Balance Sheets, and we reclassify them to earnings in the same periods during which the hedged transactions affect earnings. To hedge our exposure to foreign currency exchange rate risk associated with certain of our long-term debt denominated in foreign currencies, we enter into cross-currency swap contracts. Under the terms of these contracts, we paid euros/pounds sterling and Swiss francs and received U.S. dollars for the notional amounts at the inception of the contracts; and based on these notional amounts, we exchange interest payments at fixed rates over the lives of the contracts by paying U.S. dollars and receiving euros, pounds sterling and Swiss francs. In addition, we will pay U.S. dollars to and receive euros, pounds sterling and Swiss francs from the counterparties at the maturities of the contracts for these same notional amounts. The terms of these contracts correspond to the related hedged debt, effectively converting the interest payments and principal repayment on the debt from euros, pounds sterling and Swiss francs to U.S. dollars. We have designated these cross-currency swap contracts as cash flow hedges, and accordingly, the effective portions of the unrealized gains and losses on these contracts are reported in AOCI in 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 % 1.25% 2022 euro Notes € 1,250 1.25 % $ 1,388 3.2 % 0.41% 2023 Swiss franc Bonds CHF 700 0.41 % $ 704 3.4 % 2.00% 2026 euro Notes € 750 2.00 % $ 833 3.9 % 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 Derivatives in cash flow hedging relationships 2017 2016 Foreign currency contracts $ (47 ) $ (148 ) Cross-currency swap contracts 64 31 Total $ 17 $ (117 ) The locations in the Condensed Consolidated Statements of Income and the effective portions of the gain/(loss) reclassified out of AOCI and into earnings for our derivative instruments designated as cash flow hedges were as follows (in millions): Three months ended Derivatives in cash flow hedging relationships Statements of Income location 2017 2016 Foreign currency contracts Product sales $ 57 $ 96 Cross-currency swap contracts Interest and other income, net 74 70 Total $ 131 $ 166 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 months ended March 31, 2017 and 2016. As of March 31, 2017 , the amounts expected to be reclassified out of AOCI and into earnings during the next 12 months are approximately $2 million of net gains on our foreign currency and cross-currency swap contracts and approximately $2 million of losses on forward interest rate contracts. Fair value hedges To achieve the desired mix of fixed and floating interest rates on our long-term debt, we entered into interest rate swap contracts that 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 convert a fixed interest rate coupon to a floating LIBOR-based coupon over the lives of the respective notes. As of March 31, 2017 and December 31, 2016 , we had interest rate swap agreements with aggregate notional amounts of $6.65 billion that hedge certain of our long-term debt issuances. These contracts have rates that range from three-month LIBOR plus 0.4% to three-month LIBOR plus 2.0% . For derivative instruments that qualify and are designated as fair value hedges, we recognize in current earnings 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. For the three months ended March 31, 2017 and 2016 , we included unrealized losses of $19 million and unrealized gains of $149 million , respectively, on our interest rate swap agreements in the same line item, Interest expense, net, in the Condensed Consolidated Statements of Income, as the offsetting unrealized gains of $19 million and unrealized losses of $149 million , respectively, on the related hedged debt. Derivatives not designated as hedges To reduce our exposure to foreign currency fluctuations of certain assets and liabilities denominated in foreign currencies, we enter into foreign currency forward contracts that are not designated as hedging transactions. These exposures are hedged on a month-to-month basis. As of March 31, 2017 and December 31, 2016 , the total notional amounts of these foreign currency forward contracts were $740 million and $666 million , respectively. The location in the Condensed Consolidated Statements of Income and the amounts of gain/(loss) recognized in earnings for our derivative instruments not designated as hedging instruments were as follows (in millions): Three months ended Derivatives not designated as hedging instruments Statements of Income location 2017 2016 Foreign currency contracts Interest and other income, net $ 1 $ (10 ) The fair values of derivatives included in the Condensed Consolidated Balance Sheets were as follows (in millions): Derivative assets Derivative liabilities March 31, 2017 Balance Sheet location Fair value Balance Sheet location Fair value Derivatives designated as hedging instruments: Foreign currency contracts Other current assets/ Other noncurrent assets $ 148 Accrued liabilities/ Other noncurrent liabilities $ 14 Cross-currency swap contracts Other current assets/ Other noncurrent assets 20 Accrued liabilities/ Other noncurrent liabilities 481 Interest rate swap contracts Other current assets/ Other noncurrent assets 30 Accrued liabilities/ Other noncurrent liabilities 15 Total derivatives designated as hedging instruments 198 510 Derivatives not designated as hedging instruments: Foreign currency contracts Other current assets — Accrued liabilities 1 Total derivatives not designated as hedging instruments — 1 Total derivatives $ 198 $ 511 Derivative assets Derivative liabilities December 31, 2016 Balance Sheet location Fair value Balance Sheet location Fair value Derivatives designated as hedging instruments: Foreign currency contracts Other current assets/ Other noncurrent assets $ 203 Accrued liabilities/ Other noncurrent liabilities $ 4 Cross-currency swap contracts Other current assets/ Other noncurrent assets — Accrued liabilities/ Other noncurrent liabilities 523 Interest rate swap contracts Other current assets/ Other noncurrent assets 41 Accrued liabilities/ Other noncurrent liabilities 7 Total derivatives designated as hedging instruments 244 534 Derivatives not designated as hedging instruments: Foreign currency contracts Other current assets — Accrued liabilities — Total derivatives not designated as hedging instruments — — Total derivatives $ 244 $ 534 Our derivative contracts that were in liability positions as of March 31, 2017 , 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 the 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 the contracts may be offset against other amounts due to or from the same counterparty only if an event of default or termination, as defined, were to occur. The cash flow effects of our derivative contracts for the three months ended March 31, 2017 and 2016 , are included within Net cash provided by operating activities in the Condensed Consolidated Statements of Cash Flows.

Contingencies and commitments

Contingencies and commitments	3 Months Ended
	Mar. 31, 2017
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, government investigations and other matters that are complex in nature and have outcomes that are difficult to predict. (See our Annual Report on Form 10-K for the year ended December 31, 2016, Part I, Item 1A. Risk Factors—Our business may be affected by litigation and government investigations.) We describe our legal proceedings and other matters that are significant or that we believe could become significant in this Note; and 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, 2016. We record accruals for loss contingencies to the extent that we conclude 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 a class action 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, 2016, 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 pending against us 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, 2016, 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 matters, an adverse determination in one or more of these matters 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: Sanofi/Regeneron Patent Litigation As previously disclosed, defendants Sanofi, Sanofi-Aventis U.S. LLC, Aventisub LLC, formerly doing business as Aventis Pharmaceuticals Inc., and Regeneron Pharmaceuticals, Inc. appealed the judgment of the U.S. District Court for Delaware (the Delaware District Court) that the patents in suit are valid and infringed by the defendants and the permanent injunction granted by the Delaware District Court prohibiting the infringing manufacture, use, sale, offer for sale or import of alirocumab in the United States. The U.S. Court of Appeals for the Federal Circuit (the Federal Circuit Court) has scheduled argument on the appeal for June 6, 2017. Sensipar ® (cinacalcet) Patent Litigation As previously disclosed, Amgen filed 13 separate lawsuits in the Delaware District Court for infringement of our U.S. Patent No. 9,375,405 (the ‘405 Patent). On February 22, 2017, Amgen filed a lawsuit in the Delaware District Court against Zydus Pharmaceuticals (USA) Inc. and Cadila Healthcare Ltd. (collectively, Zydus). In each of the 14 lawsuits, Amgen seeks an order of the Delaware District Court making any U.S. Food and Drug Administration (FDA) approval of the defendants’ generic version of Sensipar ® effective no earlier than the expiration of the ‘405 Patent. In each lawsuit, all defendants except Zydus have responded to the complaint denying infringement and seeking judgment that the ‘405 Patent is invalid and/or not infringed. On February 23, 2017, and on April 6, 2017, for Zydus, the Delaware District Court consolidated the 14 lawsuits into a single case. The Delaware District Court has scheduled trial for March 5, 2018. KYPROLIS ® (carfilzomib) Patent Litigation As previously disclosed, our subsidiary Onyx Therapeutics, Inc. (Onyx Therapeutics) filed nine separate lawsuits in the Delaware District Court for infringing certain of our patents. On April 18, 2017, the Delaware District Court consolidated these nine lawsuits for purposes of discovery and scheduled trial for March 11, 2019. On April 20, 2017, Onyx Therapeutics filed a separate lawsuit in the Delaware District Court against Teva Pharmaceuticals USA, Inc. and Teva Pharmaceutical Industries Ltd. for infringement of U.S. Patent Nos. 7,232,818; 7,417,042; 7,491,704; 7,737,112; 8,129,346; 8,207,125; 8,207,126; 8,207,127; and 8,207,297. These ten lawsuits are based on Abbreviated New Drug Applications (ANDAs) that seek approval to market generic versions of KYPROLIS ® before expiration of the asserted patents. In each lawsuit, Onyx Therapeutics seeks an order of the Delaware District Court making any FDA approval of the defendant’s ANDA effective no earlier than the expiration of the applicable patents. Biosimilar Patent Litigations We have filed a number of lawsuits against manufacturers of products that purport to be biosimilars of certain of our products. In each case, our complaint alleges that the manufacturer’s actions infringe certain patents we hold and that the manufacturer has failed to comply with certain provisions of the Biologics Price Competition and Innovation Act (BPCIA). Sandoz Filgrastim Litigation As previously disclosed, the U.S. Supreme Court granted certiorari on both Sandoz’s petition seeking review of the Federal Circuit Court ruling concluding that a biosimilar applicant must give 180-day advance notice of first marketing and that notice can be given only after the FDA has licensed the biosimilar product and Amgen’s conditional cross-petition seeking review of the Federal Circuit Court’s ruling that the only remedy available when a biosimilar applicant refuses to provide its Biologics License Application is to bring a patent infringement claim. On April 26, 2017, the U.S. Supreme Court heard arguments on Sandoz’s petition and Amgen’s conditional cross-petition. Apotex Pegfilgrastim/Filgrastim Litigation On February 17, 2017, the Patent Trial and Appeal Board of the U.S. Patent and Trademark Office granted a petition filed by Apotex to institute an inter partes review of our U.S. Patent No. 9,952,138 (the ‘138 Patent) challenging claims of the ‘138 Patent as unpatentable. Hospira Epoetin Alfa Litigation On April 3, 2017, the Federal Circuit Court heard arguments on Amgen’s appeal seeking review of the Delaware District Court’s order that Hospira need not provide Amgen discovery of certain of its manufacturing processes that Hospira withheld during the BPCIA dispute resolution process. State Derivative Litigation As previously disclosed, the Superior Court of the State of California, County of Ventura, lifted the stay in Larson v. Sharer, et al. , a state stockholder derivative lawsuit. On March 15, 2017, the plaintiffs in this lawsuit filed a motion for leave to file a third amended complaint. ERISA Litigation On April 5, 2017, the U.S. District Court for the Central District of California entered a final order approving the settlement of this class action lawsuit.

Summary of significant accoun19

Summary of significant accounting policies (Policies)	3 Months Ended
	Mar. 31, 2017
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 months ended March 31, 2017 and 2016 , 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, 2016 .
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 U.S. generally accepted accounting principles (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 $7.6 billion and $7.5 billion as of March 31, 2017 , and December 31, 2016 , respectively.
Recent accounting pronouncements and reclassifications	Recent accounting pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued a new accounting standard that amends the guidance for the recognition of revenue from contracts with customers to transfer goods and services. The FASB has subsequently issued additional, clarifying standards to address issues arising from implementation of the new revenue recognition standard. The new revenue recognition standard and clarifying standards are effective for interim and annual periods beginning on January 1, 2018, but could have been adopted early beginning January 1, 2017. The new standards are required to be adopted using either a full retrospective or a modified retrospective approach. We expect to adopt this standard using the modified retrospective approach beginning in 2018. We have substantially completed our impact assessment and do not currently anticipate a material impact to our Total revenues. We continue to review the impact that this new standard will have on collaborations and license arrangements, as well as our financial statement disclosures. As we complete our assessment, we are also identifying and preparing to implement changes to our accounting policies, business processes, and internal controls to support the new accounting and disclosure requirements. In January 2016, the FASB issued a new accounting standard that amends the accounting and disclosures of financial instruments, including a provision that requires equity investments (except for investments accounted for under the equity method of accounting) to be measured at fair value, with changes in fair value recognized in current earnings. The new standard is effective for interim and annual periods beginning on January 1, 2018. The impact that this new standard will have on our consolidated financial statements is dependent on the fair value of available-for-sale securities in our portfolio in the future. See Note 5, Available-for-sale investments, for the fair value of equity securities as of March 31, 2017. In February 2016, the FASB issued a new accounting standard that amends the guidance for the accounting and disclosure of leases. This new standard requires that lessees recognize the assets and liabilities that arise from leases on the balance sheet, including leases classified as operating leases under current GAAP, and disclose qualitative and quantitative information about leasing arrangements. The new standard requires a modified retrospective approach to adoption and is effective for interim and annual periods beginning on January 1, 2019, but may be adopted earlier. We expect to adopt this standard beginning in 2019. We continue to evaluate the impact that this new standard will have on our consolidated financial statements, including related disclosures, as well as our business processes and systems, accounting policies and internal controls. We do not expect that this standard will have a material impact to our Consolidated Statements of Income, but we do expect that upon adoption, this standard will have a material impact to our assets and liabilities on our Consolidated Balance Sheets, as well as our systems and processes. In June 2016, the FASB issued a new accounting standard that amends the guidance for measuring and recording credit losses on financial assets measured at amortized cost by replacing the “incurred loss” model with an “expected loss” model. Accordingly, these financial assets will be presented at the net amount expected to be collected. This new standard also requires that credit losses related to available-for-sale debt securities be recorded through an allowance for such losses rather than reducing the carrying amount under the current, other-than-temporary-impairment model. The new standard is effective for interim and annual periods beginning on January 1, 2020. We are currently evaluating the impact that this new standard will have on our consolidated financial statements. In January 2017, the FASB issued a new accounting standard that changes the definition of a business to assist entities with evaluating when a set of assets acquired or disposed of should be considered a business. The new standard requires an entity to evaluate if substantially all the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets; if so, the set would not be considered a business. The new standard also requires a business to include at least one substantive process and narrows the definition of outputs. We expect that these provisions will reduce the number of transactions that will be considered a business. The new standard is effective for interim and annual periods beginning on January 1, 2018, and may be adopted earlier. We expect to adopt this standard beginning in 2018. The standard would be applied prospectively to any transaction occurring on or after the adoption date. We are currently evaluating the impact that this new standard will have on our consolidated financial statements.

Earnings per share (Tables)

Earnings per share (Tables)	3 Months Ended
	Mar. 31, 2017
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 2017 2016 Income (Numerator): Net income for basic and diluted EPS $ 2,071 $ 1,900 Shares (Denominator): Weighted-average shares for basic EPS 737 753 Effect of dilutive securities 4 7 Weighted-average shares for diluted EPS 741 760 Basic EPS $ 2.81 $ 2.52 Diluted EPS $ 2.79 $ 2.50

Available-for-sale investments

Available-for-sale investments (Tables)	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017 Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value U.S. Treasury securities $ 6,915 $ 4 $ (30 ) $ 6,889 Other government-related debt securities: U.S. 240 — (1 ) 239 Foreign and other 1,819 20 (13 ) 1,826 Corporate debt securities: Financial 8,549 34 (19 ) 8,564 Industrial 8,763 62 (34 ) 8,791 Other 1,111 6 (5 ) 1,112 Residential mortgage-backed securities 1,766 1 (27 ) 1,740 Other mortgage- and asset-backed securities 1,811 2 (12 ) 1,801 Money market mutual funds 2,891 — — 2,891 Other short-term interest-bearing securities 4,080 — — 4,080 Total interest-bearing securities 37,945 129 (141 ) 37,933 Equity securities 133 47 — 180 Total available-for-sale investments $ 38,078 $ 176 $ (141 ) $ 38,113 Type of security as of December 31, 2016 Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value U.S. Treasury securities $ 6,681 $ 1 $ (68 ) $ 6,614 Other government-related debt securities: U.S. 302 — (3 ) 299 Foreign and other 1,784 9 (34 ) 1,759 Corporate debt securities: Financial 8,476 21 (37 ) 8,460 Industrial 8,793 59 (63 ) 8,789 Other 1,079 5 (7 ) 1,077 Residential mortgage-backed securities 1,968 1 (29 ) 1,940 Other mortgage- and asset-backed securities 1,731 1 (13 ) 1,719 Money market mutual funds 2,782 — — 2,782 Other short-term interest-bearing securities 4,188 — — 4,188 Total interest-bearing securities 37,784 97 (254 ) 37,627 Equity securities 127 31 (4 ) 154 Total available-for-sale investments $ 37,911 $ 128 $ (258 ) $ 37,781
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 March 31, December 31, Cash and cash equivalents $ 2,893 $ 2,783 Marketable securities 35,040 34,844 Other assets — noncurrent 180 154 Total available-for-sale investments $ 38,113 $ 37,781
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 March 31, December 31, Maturing in one year or less $ 8,751 $ 8,393 Maturing after one year through three years 10,952 10,404 Maturing after three years through five years 11,868 12,157 Maturing after five years through ten years 2,757 2,974 Maturing after ten years 64 40 Mortgage- and asset-backed securities 3,541 3,659 Total interest-bearing securities $ 37,933 $ 37,627
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 March 31, 2017 Fair value Unrealized losses Fair value Unrealized losses U.S. Treasury securities $ 5,117 $ (30 ) $ — $ — Other government-related debt securities: U.S. 170 (1 ) — — Foreign and other 792 (13 ) 13 — Corporate debt securities: Financial 2,500 (19 ) 23 — Industrial 3,194 (33 ) 72 (1 ) Other 462 (5 ) 5 — Residential mortgage-backed securities 1,503 (25 ) 132 (2 ) Other mortgage- and asset-backed securities 1,063 (9 ) 113 (3 ) Equity securities 25 — — — Total $ 14,826 $ (135 ) $ 358 $ (6 ) Less than 12 months 12 months or greater Type of security as of December 31, 2016 Fair value Unrealized losses Fair value Unrealized losses U.S. Treasury securities $ 5,774 $ (68 ) $ — $ — Other government-related debt securities: U.S. 201 (3 ) — — Foreign and other 1,192 (34 ) 17 — Corporate debt securities: Financial 3,975 (37 ) 44 — Industrial 3,913 (61 ) 149 (2 ) Other 486 (7 ) 7 — Residential mortgage-backed securities 1,631 (26 ) 158 (3 ) Other mortgage- and asset-backed securities 1,087 (10 ) 118 (3 ) Equity securities 22 (4 ) — — Total $ 18,281 $ (250 ) $ 493 $ (8 )

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2017
Inventory Disclosure [Abstract]
Inventories	Inventories consisted of the following (in millions): March 31, December 31, Raw materials $ 216 $ 225 Work in process 1,496 1,608 Finished goods 1,159 912 Total inventories $ 2,871 $ 2,745

Goodwill and other intangible23

Goodwill and other intangible assets (Tables)	3 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill	Changes in the carrying amounts of goodwill were as follows (in millions): Three months ended March 31, 2017 2016 Beginning balance $ 14,751 $ 14,787 Goodwill related to acquisitions of businesses (1) — 2 Currency translation adjustments 6 15 Ending balance $ 14,757 $ 14,804 (1) Consists 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): March 31, 2017 December 31, 2016 Gross carrying amount Accumulated amortization Intangible assets, net Gross carrying amount Accumulated amortization Intangible assets, net Finite-lived intangible assets: Developed product technology rights $ 12,548 $ (6,191 ) $ 6,357 $ 12,534 $ (5,947 ) $ 6,587 Licensing rights 3,275 (1,375 ) 1,900 3,275 (1,300 ) 1,975 Marketing-related rights 1,331 (829 ) 502 1,333 (793 ) 540 Research and development technology rights 1,133 (729 ) 404 1,122 (704 ) 418 Total finite-lived intangible assets 18,287 (9,124 ) 9,163 18,264 (8,744 ) 9,520 Indefinite-lived intangible assets: In-process research and development 759 — 759 759 — 759 Total identifiable intangible assets $ 19,046 $ (9,124 ) $ 9,922 $ 19,023 $ (8,744 ) $ 10,279

Financing arrangements (Tables)

Financing arrangements (Tables)	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Principal amounts, fixed contractual coupon rates and aggregate carrying value of long-term borrowings	The carrying values and the fixed contractual coupon rates of our borrowings were as follows (in millions): March 31, December 31, Short-term loan $ — $ 605 2.125% notes due 2017 (2.125% 2017 Notes) 1,250 1,250 Floating Rate Notes due 2017 600 600 1.25% notes due 2017 (1.25% 2017 Notes) 850 850 5.85% notes due 2017 (5.85% 2017 Notes) 1,100 1,100 6.15% notes due 2018 (6.15% 2018 Notes) 500 500 4.375% €550 million notes due 2018 (4.375% 2018 euro Notes) 598 577 5.70% notes due 2019 (5.70% 2019 Notes) 1,000 1,000 Floating Rate Notes due 2019 250 250 2.20% notes due 2019 (2.20% 2019 Notes) 1,400 1,400 2.125% €675 million notes due 2019 (2.125% 2019 euro Notes) 719 710 4.50% notes due 2020 (4.50% 2020 Notes) 300 300 2.125% notes due 2020 (2.125% 2020 Notes) 750 750 3.45% notes due 2020 (3.45% 2020 Notes) 900 900 4.10% notes due 2021 (4.10% 2021 Notes) 1,000 1,000 1.85% notes due 2021 (1.85% 2021 Notes) 750 750 3.875% notes due 2021 (3.875% 2021 Notes) 1,750 1,750 1.25% €1,250 million notes due 2022 (1.25% 2022 euro Notes) 1,332 1,315 2.70% notes due 2022 (2.70% 2022 Notes) 500 500 3.625% notes due 2022 (3.625% 2022 Notes) 750 750 0.41% CHF700 million bonds due 2023 (0.41% 2023 Swiss franc Bonds) 698 687 2.25% notes due 2023 (2.25% 2023 Notes) 750 750 3.625% notes due 2024 (3.625% 2024 Notes) 1,400 1,400 3.125% notes due 2025 (3.125% 2025 Notes) 1,000 1,000 2.00% €750 million notes due 2026 (2.00% 2026 euro Notes) 799 789 2.60% notes due 2026 (2.60% 2026 notes) 1,250 1,250 5.50% £475 million notes due 2026 (5.50% 2026 pound sterling Notes) 596 586 4.00% £700 million notes due 2029 (4.00% 2029 pound sterling Notes) 879 864 6.375% notes due 2037 (6.375% 2037 Notes) 552 552 6.90% notes due 2038 (6.90% 2038 Notes) 291 291 6.40% notes due 2039 (6.40% 2039 Notes) 466 466 5.75% notes due 2040 (5.75% 2040 Notes) 412 412 4.95% notes due 2041 (4.95% 2041 Notes) 600 600 5.15% notes due 2041 (5.15% 2041 Notes) 974 974 5.65% notes due 2042 (5.65% 2042 Notes) 487 487 5.375% notes due 2043 (5.375% 2043 Notes) 261 261 4.40% notes due 2045 (4.40% 2045 Notes) 2,250 2,250 4.563% notes due 2048 (4.563% 2048 Notes) 1,415 1,415 4.663% notes due 2051 (4.663% 2051 Notes) 3,541 3,541 Other notes due 2097 100 100 Unamortized bond discounts, premiums and issuance costs, net (928 ) (936 ) Total carrying value of debt $ 34,092 $ 34,596 Less current portion (3,799 ) (4,403 ) Total noncurrent debt $ 30,293 $ 30,193

Stockholders' equity (Tables)

Stockholders' equity (Tables)	3 Months Ended
	Mar. 31, 2017
Equity [Abstract]
Share repurchase program activity	Activity under our stock repurchase program, on a trade date basis, was as follows (in millions): 2017 2016 Shares Dollars Shares Dollars First quarter 3.4 $ 555 4.7 $ 690
Components of accumulated other comprehensive income	The components of accumulated other comprehensive income/(loss) (AOCI) were as follows (in millions): Foreign currency translation Cash flow hedges Available-for-sale securities Other AOCI Balance as of December 31, 2016 $ (610 ) $ 282 $ (138 ) $ (5 ) $ (471 ) Foreign currency translation adjustments 21 — — — 21 Unrealized gains — 17 116 — 133 Reclassification adjustments to income — (131 ) 49 — (82 ) Income taxes 3 41 (7 ) — 37 Balance as of March 31, 2017 $ (586 ) $ 209 $ 20 $ (5 ) $ (362 )
Reclassifications out of accumulated other comprehensive income	The reclassifications out of AOCI and into earnings were as follows (in millions): Amounts reclassified out of AOCI Components of AOCI Three months ended March 31, 2017 Three months ended March 31, 2016 Line item affected in the Condensed Consolidated Statements of Income Cash flow hedges: Foreign currency contract gains $ 57 $ 96 Product sales Cross-currency swap contract gains 74 70 Interest and other income, net 131 166 Income before income taxes (47 ) (61 ) Provision for income taxes $ 84 $ 105 Net income Available-for-sale securities: Net realized losses $ (49 ) $ (30 ) Interest and other income, net — — Provision for income taxes $ (49 ) $ (30 ) Net income

Fair value measurement (Tables)

Fair value measurement (Tables)	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017, using: Total Assets: Available-for-sale investments: U.S. Treasury securities $ 6,889 $ — $ — $ 6,889 Other government-related debt securities: U.S. — 239 — 239 Foreign and other — 1,826 — 1,826 Corporate debt securities: Financial — 8,564 — 8,564 Industrial — 8,791 — 8,791 Other — 1,112 — 1,112 Residential mortgage-backed securities — 1,740 — 1,740 Other mortgage- and asset-backed securities — 1,801 — 1,801 Money market mutual funds 2,891 — — 2,891 Other short-term interest-bearing securities — 4,080 — 4,080 Equity securities 180 — — 180 Derivatives: Foreign currency contracts — 148 — 148 Cross-currency swap contracts — 20 — 20 Interest rate swap contracts — 30 — 30 Total assets $ 9,960 $ 28,351 $ — $ 38,311 Liabilities: Derivatives: Foreign currency contracts $ — $ 15 $ — $ 15 Cross-currency swap contracts — 481 — 481 Interest rate swap contracts — 15 — 15 Contingent consideration obligations in connection with business combinations — — 184 184 Total liabilities $ — $ 511 $ 184 $ 695 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, 2016, using: Total Assets: Available-for-sale investments: U.S. Treasury securities $ 6,614 $ — $ — $ 6,614 Other government-related debt securities: U.S. — 299 — 299 Foreign and other — 1,759 — 1,759 Corporate debt securities: Financial — 8,460 — 8,460 Industrial — 8,789 — 8,789 Other — 1,077 — 1,077 Residential mortgage-backed securities — 1,940 — 1,940 Other mortgage- and asset-backed securities — 1,719 — 1,719 Money market mutual funds 2,782 — — 2,782 Other short-term interest-bearing securities — 4,188 — 4,188 Equity securities 154 — — 154 Derivatives: Foreign currency contracts — 203 — 203 Interest rate swap contracts — 41 — 41 Total assets $ 9,550 $ 28,475 $ — $ 38,025 Liabilities: Derivatives: Foreign currency contracts $ — $ 4 $ — $ 4 Cross-currency swap contracts — 523 — 523 Interest rate swap contracts — 7 — 7 Contingent consideration obligations in connection with business combinations — — 179 179 Total liabilities $ — $ 534 $ 179 $ 713
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 2017 2016 Beginning balance $ 179 $ 188 Net changes in valuation 5 6 Ending balance $ 184 $ 194

Derivative instruments (Tables)

Derivative instruments (Tables)	3 Months Ended
	Mar. 31, 2017
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 % 1.25% 2022 euro Notes € 1,250 1.25 % $ 1,388 3.2 % 0.41% 2023 Swiss franc Bonds CHF 700 0.41 % $ 704 3.4 % 2.00% 2026 euro Notes € 750 2.00 % $ 833 3.9 % 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 Derivatives in cash flow hedging relationships 2017 2016 Foreign currency contracts $ (47 ) $ (148 ) Cross-currency swap contracts 64 31 Total $ 17 $ (117 )
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 and into earnings for our derivative instruments designated as cash flow hedges were as follows (in millions): Three months ended Derivatives in cash flow hedging relationships Statements of Income location 2017 2016 Foreign currency contracts Product sales $ 57 $ 96 Cross-currency swap contracts Interest and other income, net 74 70 Total $ 131 $ 166
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 amounts of gain/(loss) recognized in earnings for our derivative instruments not designated as hedging instruments were as follows (in millions): Three months ended Derivatives not designated as hedging instruments Statements of Income location 2017 2016 Foreign currency contracts Interest and other income, net $ 1 $ (10 )
Fair values of derivatives included in the Condensed Consolidated Balance Sheets	The fair values of derivatives included in the Condensed Consolidated Balance Sheets were as follows (in millions): Derivative assets Derivative liabilities March 31, 2017 Balance Sheet location Fair value Balance Sheet location Fair value Derivatives designated as hedging instruments: Foreign currency contracts Other current assets/ Other noncurrent assets $ 148 Accrued liabilities/ Other noncurrent liabilities $ 14 Cross-currency swap contracts Other current assets/ Other noncurrent assets 20 Accrued liabilities/ Other noncurrent liabilities 481 Interest rate swap contracts Other current assets/ Other noncurrent assets 30 Accrued liabilities/ Other noncurrent liabilities 15 Total derivatives designated as hedging instruments 198 510 Derivatives not designated as hedging instruments: Foreign currency contracts Other current assets — Accrued liabilities 1 Total derivatives not designated as hedging instruments — 1 Total derivatives $ 198 $ 511 Derivative assets Derivative liabilities December 31, 2016 Balance Sheet location Fair value Balance Sheet location Fair value Derivatives designated as hedging instruments: Foreign currency contracts Other current assets/ Other noncurrent assets $ 203 Accrued liabilities/ Other noncurrent liabilities $ 4 Cross-currency swap contracts Other current assets/ Other noncurrent assets — Accrued liabilities/ Other noncurrent liabilities 523 Interest rate swap contracts Other current assets/ Other noncurrent assets 41 Accrued liabilities/ Other noncurrent liabilities 7 Total derivatives designated as hedging instruments 244 534 Derivatives not designated as hedging instruments: Foreign currency contracts Other current assets — Accrued liabilities — Total derivatives not designated as hedging instruments — — Total derivatives $ 244 $ 534

Summary of significant accoun28

Summary of significant accounting policies (Details) $ in Billions	3 Months Ended
	Mar. 31, 2017USD ($)segment	Dec. 31, 2016USD ($)
Accounting Policies [Abstract]
Number of operating segments | segment	1
Accumulated depreciation and amortization on property, plant and equipment | $	$ 7.6	$ 7.5

Restructuring (Details)

Restructuring (Details) $ in Millions	Mar. 31, 2017USD ($)
Separation and Other Headcount-related Costs [Member]
Restructuring Cost and Reserve [Line Items]
Total costs incurred to date	$ 511
Asset-related Charges [Member]
Restructuring Cost and Reserve [Line Items]
Total costs incurred to date	237
Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Expected pre-tax accounting charges	800
Separation and other headcount-related costs	535
Accelerated depreciation and asset impairment and other related charges	265
Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Expected pre-tax accounting charges	900
Separation and other headcount-related costs	585
Accelerated depreciation and asset impairment and other related charges	$ 315

Income taxes (Details)

Income taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Effective income tax rate	15.80%	15.90%
Puerto Rico Excise Tax Rate [Line Items]
Significant change in unrecognized tax benefits is reasonably possible, amount of unrecorded benefit	$ 115
PUERTO RICO
Puerto Rico Excise Tax Rate [Line Items]
Excise tax rate, current	4.00%

Earnings per share (Details)

Earnings per share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Income (Numerator):
Net income for basic and diluted EPS	$ 2,071	$ 1,900
Shares (Denominator):
Weighted-average shares for basic EPS	737	753
Effect of dilutive securities	4	7
Weighted-average shares for diluted EPS	741	760
Basic EPS (in usd per share)	$ 2.81	$ 2.52
Diluted EPS (in usd per share)	$ 2.79	$ 2.50

Available-for-sale investment32

Available-for-sale investments (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Amortized cost, gross unrealized gains, gross unrealized losses and estimated fair values of available-for-sale investments by type of security
Amortized cost	$ 38,078	$ 37,911
Gross unrealized gains	176	128
Gross unrealized losses	(141)	(258)
Estimated fair value	38,113	37,781
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	6,915	6,681
Gross unrealized gains	4	1
Gross unrealized losses	(30)	(68)
Estimated fair value	6,889	6,614
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	240	302
Gross unrealized gains	0	0
Gross unrealized losses	(1)	(3)
Estimated fair value	239	299
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	1,819	1,784
Gross unrealized gains	20	9
Gross unrealized losses	(13)	(34)
Estimated fair value	1,826	1,759
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	8,549	8,476
Gross unrealized gains	34	21
Gross unrealized losses	(19)	(37)
Estimated fair value	8,564	8,460
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	8,763	8,793
Gross unrealized gains	62	59
Gross unrealized losses	(34)	(63)
Estimated fair value	8,791	8,789
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	1,111	1,079
Gross unrealized gains	6	5
Gross unrealized losses	(5)	(7)
Estimated fair value	1,112	1,077
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	1,766	1,968
Gross unrealized gains	1	1
Gross unrealized losses	(27)	(29)
Estimated fair value	1,740	1,940
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	1,811	1,731
Gross unrealized gains	2	1
Gross unrealized losses	(12)	(13)
Estimated fair value	1,801	1,719
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	2,891	2,782
Gross unrealized gains	0	0
Gross unrealized losses	0	0
Estimated fair value	2,891	2,782
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	4,080	4,188
Gross unrealized gains	0	0
Gross unrealized losses	0	0
Estimated fair value	4,080	4,188
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	37,945	37,784
Gross unrealized gains	129	97
Gross unrealized losses	(141)	(254)
Estimated fair value	37,933	37,627
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	133	127
Gross unrealized gains	47	31
Gross unrealized losses	0	(4)
Estimated fair value	$ 180	$ 154

Available-for-sale investment33

Available-for-sale investments (Fair Values by Classification) (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Fair values of available-for-sale investments by classification in the Consolidated Balance Sheets
Cash and cash equivalents	$ 3,358	$ 3,241	$ 2,896	$ 4,144
Marketable securities	35,040	34,844
Other assets — noncurrent	1,767	1,625
Total available-for-sale investments	38,113	37,781
Available-for-sale investments [Member]
Fair values of available-for-sale investments by classification in the Consolidated Balance Sheets
Cash and cash equivalents	2,893	2,783
Marketable securities	35,040	34,844
Other assets — noncurrent	180	154
Total available-for-sale investments	$ 38,113	$ 37,781

Available-for-sale investment34

Available-for-sale investments (Fair Values by Contractual Maturity) (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Fair values of available-for-sale debt security investments by contractual maturity
Total available-for-sale investments	$ 38,113	$ 37,781
Total interest-bearing securities [Member]
Fair values of available-for-sale debt security investments by contractual maturity
Maturing in one year or less	8,751	8,393
Maturing after one year through three years	10,952	10,404
Maturing after three years through five years	11,868	12,157
Maturing after five years through ten years	2,757	2,974
Maturing after ten years	64	40
Mortgage- and asset-backed securities	3,541	3,659
Total available-for-sale investments	$ 37,933	$ 37,627

Available-for-sale investment35

Available-for-sale investments (Unrealized Losses and Fair Values) (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair value	$ 14,826	$ 18,281
Less than 12 months, Unrealized losses	(135)	(250)
12 months or greater, Fair value	358	493
12 months or greater, Unrealized losses	(6)	(8)
U.S. Treasury securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair value	5,117	5,774
Less than 12 months, Unrealized losses	(30)	(68)
12 months or greater, Fair value	0	0
12 months or greater, Unrealized losses	0	0
Other government-related debt securities - U.S. [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair value	170	201
Less than 12 months, Unrealized losses	(1)	(3)
12 months or greater, Fair value	0	0
12 months or greater, Unrealized losses	0	0
Other government-related debt securities - Foreign and other [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair value	792	1,192
Less than 12 months, Unrealized losses	(13)	(34)
12 months or greater, Fair value	13	17
12 months or greater, Unrealized losses	0	0
Corporate debt securities - Financial [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair value	2,500	3,975
Less than 12 months, Unrealized losses	(19)	(37)
12 months or greater, Fair value	23	44
12 months or greater, Unrealized losses	0	0
Corporate debt securities - Industrial [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair value	3,194	3,913
Less than 12 months, Unrealized losses	(33)	(61)
12 months or greater, Fair value	72	149
12 months or greater, Unrealized losses	(1)	(2)
Corporate debt securities - Other [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair value	462	486
Less than 12 months, Unrealized losses	(5)	(7)
12 months or greater, Fair value	5	7
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	1,503	1,631
Less than 12 months, Unrealized losses	(25)	(26)
12 months or greater, Fair value	132	158
12 months or greater, Unrealized losses	(2)	(3)
Other mortgage- and asset-backed securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair value	1,063	1,087
Less than 12 months, Unrealized losses	(9)	(10)
12 months or greater, Fair value	113	118
12 months or greater, Unrealized losses	(3)	(3)
Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair value	25	22
Less than 12 months, Unrealized losses	0	(4)
12 months or greater, Fair value	0	0
12 months or greater, Unrealized losses	$ 0	$ 0

Available-for-sale investment36

Available-for-sale investments (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Investments [Line Items]
Cash and cash equivalents	$ 465		$ 458
Total realized gains	35	$ 37
Total realized losses	$ 84	$ 67

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Inventories
Raw materials	$ 216	$ 225
Work in process	1,496	1,608
Finished goods	1,159	912
Total inventories	$ 2,871	$ 2,745

Goodwill and other intangible38

Goodwill and other intangible assets (Goodwill Roll Forward) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Goodwill [Roll Forward]
Beginning balance	$ 14,751	$ 14,787
Goodwill related to acquisitions of businesses	0	2
Currency translation adjustments	6	15
Ending balance	$ 14,757	$ 14,804

Goodwill and other intangible39

Goodwill and other intangible assets (Idenfitiable Intangible Assets) (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Finite-lived intangible assets:
Gross carrying amount	$ 18,287	$ 18,264
Accumulated amortization	(9,124)	(8,744)
Intangible assets, net	9,163	9,520
Indefinite-lived intangible assets:
Gross carrying amount	19,046	19,023
Accumulated amortization	(9,124)	(8,744)
Intangible assets, net	9,922	10,279
IPR&D [Member]
Indefinite-lived intangible assets:
Indefinite-lived intangible assets	759	759
Developed Product Technology Rights [Member]
Finite-lived intangible assets:
Gross carrying amount	12,548	12,534
Accumulated amortization	(6,191)	(5,947)
Intangible assets, net	6,357	6,587
Licensing Rights [Member]
Finite-lived intangible assets:
Gross carrying amount	3,275	3,275
Accumulated amortization	(1,375)	(1,300)
Intangible assets, net	1,900	1,975
Marketing-Related Intangible Assets [Member]
Finite-lived intangible assets:
Gross carrying amount	1,331	1,333
Accumulated amortization	(829)	(793)
Intangible assets, net	502	540
Research and Development Technology Rights [Member]
Finite-lived intangible assets:
Gross carrying amount	1,133	1,122
Accumulated amortization	(729)	(704)
Intangible assets, net	$ 404	$ 418

Goodwill and other intangible40

Goodwill and other intangible assets (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization charges associated with finite-lived intangible assets	$ 373	$ 369
Total estimated amortization of finite-lived intangible assets for the nine months ending December 31, 2017	1,000
Total estimated amortization of finite-lived intangible assets for 2018	1,200
Total estimated amortization of finite-lived intangible assets for 2019	1,100
Total estimated amortization of finite-lived intangible assets for 2020	1,100
Total estimated amortization of finite-lived intangible assets for 2021	900
Total estimated amortization of finite-lived intangible assets for 2022	$ 900

Financing arrangements (Princip

Financing arrangements (Principal Amounts and Carrying Value of Long-term Borrowings) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Short-term loan	$ 0	$ 605
Total carrying value of debt	34,092	34,596
Less current portion	(3,799)	(4,403)
Total noncurrent debt	30,293	30,193
2.125% notes due 2017 (2.125% 2017 Notes) [Member]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 1,250	1,250
Interest rate, stated percentage	2.125%
Percentage of principal amount of notes that may be paid upon occurrence of change in control triggering event	101.00%
Floating Rate Notes due 2017 [Member]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 600	600
1.25% notes due 2017 (1.25% 2017 Notes) [Member]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 850	850
Interest rate, stated percentage	1.25%
Percentage of principal amount of notes that may be paid upon occurrence of change in control triggering event	101.00%
5.85% notes due 2017 (5.85% 2017 Notes) [Member]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 1,100	1,100
Interest rate, stated percentage	5.85%
Percentage of principal amount of notes that may be paid upon occurrence of change in control triggering event	101.00%
6.15% notes due 2018 (6.15% 2018 Notes) [Member]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 500	500
Interest rate, stated percentage	6.15%
Percentage of principal amount of notes that may be paid upon occurrence of change in control triggering event	101.00%
4.375% €550 million notes due 2018 (4.375% 2018 euro Notes) [Member]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 598	577
Interest rate, stated percentage	4.375%
Percentage of principal amount of notes that may be paid upon occurrence of change in control triggering event	101.00%
5.70% notes due 2019 (5.70% 2019 Notes) [Member]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 1,000	1,000
Interest rate, stated percentage	5.70%
Percentage of principal amount of notes that may be paid upon occurrence of change in control triggering event	101.00%
Floating Rate Notes due 2019 [Member]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 250	250
2.20% notes due 2019 (2.20% 2019 Notes) [Member]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 1,400	1,400
Interest rate, stated percentage	2.20%
Percentage of principal amount of notes that may be paid upon occurrence of change in control triggering event	101.00%
2.125% Euro Notes Due 2019 [Member]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 719	710
Interest rate, stated percentage	2.125%
Percentage of principal amount of notes that may be paid upon occurrence of change in control triggering event	101.00%
4.50% notes due 2020 (4.50% 2020 Notes) [Member]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 300	300
Interest rate, stated percentage	4.50%
Percentage of principal amount of notes that may be paid upon occurrence of change in control triggering event	101.00%
2.125% notes due 2020 (2.125% 2020 Notes) [Member]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 750	750
Interest rate, stated percentage	2.125%
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]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 900	900
Interest rate, stated percentage	3.45%
Percentage of principal amount of notes that may be paid upon occurrence of change in control triggering event	101.00%
4.10% notes due 2021 (4.10% 2021 Notes) [Member]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 1,000	1,000
Interest rate, stated percentage	4.10%
Percentage of principal amount of notes that may be paid upon occurrence of change in control triggering event	101.00%
1.85% notes due 2021 (1.85% 2021 Notes) [Member]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 750	750
Interest rate, stated percentage	1.85%
Percentage of principal amount of notes that may be paid upon occurrence of change in control triggering event	101.00%
3.875% notes due 2021 (3.875% 2021 Notes) [Member]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 1,750	1,750
Interest rate, stated percentage	3.875%
Percentage of principal amount of notes that may be paid upon occurrence of change in control triggering event	101.00%
1.25% €1,250 million notes due 2022 (1.25% 2022 euro Notes) [Member]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 1,332	1,315
Interest rate, stated percentage	1.25%
Percentage of principal amount of notes that may be paid upon occurrence of change in control triggering event	101.00%
2.70% notes due 2022 (2.70% 2022 Notes) [Member]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 500	500
Interest rate, stated percentage	2.70%
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]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 750	750
Interest rate, stated percentage	3.625%
Percentage of principal amount of notes that may be paid upon occurrence of change in control triggering event	101.00%
0.41% Swiss-franc-denominated bonds due 2023 (0.41% 2023 Swiss franc Bonds) [Member]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 698	687
Interest rate, stated percentage	0.41%
2.25% notes due 2023 (2.25% 2023 Notes) [Member]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 750	750
Interest rate, stated percentage	2.25%
Percentage of principal amount of notes that may be paid upon occurrence of change in control triggering event	101.00%
3.625% notes due 2024 (3.625% 2024 Notes) [Member]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 1,400	1,400
Interest rate, stated percentage	3.65%
Percentage of principal amount of notes that may be paid upon occurrence of change in control triggering event	101.00%
3.125% notes due 2025 (3.125% 2025 Notes) [Member]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 1,000	1,000
Interest rate, stated percentage	3.125%
Percentage of principal amount of notes that may be paid upon occurrence of change in control triggering event	101.00%
2.00% €750 million notes due 2026 (2.00% 2026 euro Notes) [Member]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 799	789
Interest rate, stated percentage	2.00%
Percentage of principal amount of notes that may be paid upon occurrence of change in control triggering event	101.00%
2.60% notes due 2026 (2.60% 2026 notes) [Member]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 1,250	1,250
Interest rate, stated percentage	2.60%
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]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 596	586
Interest rate, stated percentage	5.50%
Percentage of principal amount of notes that may be paid upon occurrence of change in control triggering event	101.00%
4.00% pound-sterling denominated notes due 2029 (4.00% 2029 pound sterling Notes) [Member]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 879	864
Interest rate, stated percentage	4.00%
Percentage of principal amount of notes that may be paid upon occurrence of change in control triggering event	101.00%
6.375% notes due 2037 (6.375% 2037 Notes) [Member]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 552	552
Interest rate, stated percentage	6.375%
Percentage of principal amount of notes that may be paid upon occurrence of change in control triggering event	101.00%
6.90% notes due 2038 (6.90% 2038 Notes) [Member]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 291	291
Interest rate, stated percentage	6.90%
Percentage of principal amount of notes that may be paid upon occurrence of change in control triggering event	101.00%
6.40% notes due 2039 (6.40% 2039 Notes) [Member]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 466	466
Interest rate, stated percentage	6.40%
Percentage of principal amount of notes that may be paid upon occurrence of change in control triggering event	101.00%
5.75% notes due 2040 (5.75% 2040 Notes) [Member]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 412	412
Interest rate, stated percentage	5.75%
Percentage of principal amount of notes that may be paid upon occurrence of change in control triggering event	101.00%
4.95% notes due 2041 (4.95% 2041 Notes) [Member]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 600	600
Interest rate, stated percentage	4.95%
Percentage of principal amount of notes that may be paid upon occurrence of change in control triggering event	101.00%
5.15% notes due 2041 (5.15% 2041 Notes) [Member]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 974	974
Interest rate, stated percentage	5.15%
Percentage of principal amount of notes that may be paid upon occurrence of change in control triggering event	101.00%
5.65% notes due 2042 (5.65% 2042 Notes) [Member]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 487	487
Interest rate, stated percentage	5.65%
Percentage of principal amount of notes that may be paid upon occurrence of change in control triggering event	101.00%
5.375% notes due 2043 (5.375% 2043 Notes) [Member]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 261	261
Interest rate, stated percentage	5.375%
Percentage of principal amount of notes that may be paid upon occurrence of change in control triggering event	101.00%
4.40% notes due 2045 (4.40% 2045 Notes) [Member]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 2,250	2,250
Interest rate, stated percentage	4.40%
Percentage of principal amount of notes that may be paid upon occurrence of change in control triggering event	101.00%
4.563% notes due 2048 (4.563% 2048 Notes) [Member]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 1,415	1,415
Interest rate, stated percentage	4.563%
Percentage of principal amount of notes that may be paid upon occurrence of change in control triggering event	101.00%
4.663% notes due 2051 (4.663% 2051 Notes) [Member]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 3,541	3,541
Interest rate, stated percentage	4.663%
Percentage of principal amount of notes that may be paid upon occurrence of change in control triggering event	101.00%
Other Notes Due 2097 [Member]
Debt Instrument [Line Items]
Notes Payable, Noncurrent	$ 100	100
Notes [Member]
Debt Instrument [Line Items]
Unamortized bond discounts, premiums and issuance costs, net	$ 928	$ 936

Financing arrangements (Details

Financing arrangements (Details Textual) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Aug. 31, 2016	Mar. 31, 2017
Debt Instrument [Line Items]
Debt repayment, short-term loan		$ 605
4.563% notes due 2048 (4.563% 2048 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage		4.563%
Effective interest rate		6.30%
4.663% notes due 2051 (4.663% 2051 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage		4.663%
Effective interest rate		5.60%
0.41% Swiss-franc-denominated bonds due 2023 (0.41% 2023 Swiss franc Bonds) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage		0.41%
Minimum [Member] | Notes [Member]
Debt Instrument [Line Items]
Redemption period without payment of a make-whole amount	1 month
Maximum [Member] | Notes [Member]
Debt Instrument [Line Items]
Redemption period without payment of a make-whole amount	6 months

Stockholders' equity (Share Rep

Stockholders' equity (Share Repurchase Program) (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Equity [Abstract]
Stock repurchased, Shares	3.4	4.7
Stock repurchased	$ 555	$ 690

Stockholders' equity (Details T

Stockholders' equity (Details Textual) - USD ($) $ / shares in Units, $ in Billions	1 Months Ended	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2017	Mar. 31, 2016
Equity [Abstract]
Amount available for stock repurchases under a board approved stock repurchase plan	$ 3.5	$ 3.5
Common Stock, Dividends, Per Share, Declared	$ 1.15
Dividends paid per share (in usd per share)		$ 1.15	$ 1

Stockholders' equity (Component

Stockholders' equity (Components of AOCI) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)
Increase (Decrease) in AOCI [Roll Forward]
Balance as of beginning of period	$ 29,875
Balance as of end of period	30,637
Foreign currency translation [Member]
Increase (Decrease) in AOCI [Roll Forward]
Balance as of beginning of period	(610)
OCI, before Reclassifications, before Tax, Attributable to Parent	21
Income taxes	(3)
Balance as of end of period	(586)
Cash flow hedges [Member]
Increase (Decrease) in AOCI [Roll Forward]
Balance as of beginning of period	282
OCI, before Reclassifications, before Tax, Attributable to Parent	17
Reclassification adjustments to income	131
Income taxes	(41)
Balance as of end of period	209
Available-for-sale securities [Member]
Increase (Decrease) in AOCI [Roll Forward]
Balance as of beginning of period	(138)
OCI, before Reclassifications, before Tax, Attributable to Parent	116
Reclassification adjustments to income	(49)
Income taxes	7
Balance as of end of period	20
Accumulated Other Adjustment Attributable to Parent [Member]
Increase (Decrease) in AOCI [Roll Forward]
Balance as of beginning of period	(5)
OCI, before Reclassifications, before Tax, Attributable to Parent	0
Balance as of end of period	(5)
AOCI [Member[
Increase (Decrease) in AOCI [Roll Forward]
Balance as of beginning of period	(471)
OCI, before Reclassifications, before Tax, Attributable to Parent	133
Reclassification adjustments to income	82
Income taxes	(37)
Balance as of end of period	$ (362)

Stockholders' equity (Reclassif

Stockholders' equity (Reclassifications out of AOCI) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Product sales	$ 5,199	$ 5,239
Interest and other income, net	195	150
Total before income tax	2,460	2,258
Tax expense	(389)	(358)
Net of taxes	2,071	1,900
Reclassification out of Accumulated Other Comprehensive Income [Member] | Cash Flow Hedges [Member]
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Product sales	57	96
Interest and other income, net	74	70
Total before income tax	131	166
Tax expense	47	61
Net of taxes	84	105
Reclassification out of Accumulated Other Comprehensive Income [Member] | Available-for-sale Securities [Member]
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Interest and other income, net	(49)	(30)
Tax expense	0	0
Net of taxes	$ (49)	$ (30)

Fair value measurement (Details

Fair value measurement (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Assets:
Total available-for-sale investments	$ 38,113	$ 37,781
Fair Value, Measurements, Recurring [Member]
Derivatives:
Total assets	38,311	38,025
Derivatives:
Contingent consideration obligations in connection with business combinations	184	179
Total liabilities	695	713
Fair Value, Measurements, Recurring [Member] | Foreign currency contracts [Member]
Derivatives:
Foreign currency and cross-currency swap contracts	148	203
Derivatives:
Foreign currency and cross-currency swap contracts	15	4
Fair Value, Measurements, Recurring [Member] | Cross currency swap contracts [Member]
Derivatives:
Foreign currency and cross-currency swap contracts	20
Derivatives:
Foreign currency and cross-currency swap contracts	481	523
Fair Value, Measurements, Recurring [Member] | Interest rate swap contracts [Member]
Derivatives:
Interest rate contracts	30	41
Derivatives:
Interest rate swap contracts	15	7
Fair Value, Measurements, Recurring [Member] | U.S. Treasury securities [Member]
Assets:
Total available-for-sale investments	6,889	6,614
Fair Value, Measurements, Recurring [Member] | Other government-related debt securities - U.S. [Member]
Assets:
Total available-for-sale investments	239	299
Fair Value, Measurements, Recurring [Member] | Other government-related debt securities - Foreign and other [Member]
Assets:
Total available-for-sale investments	1,826	1,759
Fair Value, Measurements, Recurring [Member] | Corporate debt securities - Financial [Member]
Assets:
Total available-for-sale investments	8,564	8,460
Fair Value, Measurements, Recurring [Member] | Corporate debt securities - Industrial [Member]
Assets:
Total available-for-sale investments	8,791	8,789
Fair Value, Measurements, Recurring [Member] | Corporate debt securities - Other [Member]
Assets:
Total available-for-sale investments	1,112	1,077
Fair Value, Measurements, Recurring [Member] | Residential mortgage-backed securities [Member]
Assets:
Total available-for-sale investments	1,740	1,940
Fair Value, Measurements, Recurring [Member] | Other mortgage- and asset-backed securities [Member]
Assets:
Total available-for-sale investments	1,801	1,719
Fair Value, Measurements, Recurring [Member] | Money market mutual funds [Member]
Assets:
Total available-for-sale investments	2,891	2,782
Fair Value, Measurements, Recurring [Member] | Other short-term interest-bearing securities [Member]
Assets:
Total available-for-sale investments	4,080	4,188
Fair Value, Measurements, Recurring [Member] | Equity securities [Member]
Assets:
Total available-for-sale investments	180	154
Fair Value, Measurements, Recurring [Member] | Quoted prices in active markets for identical assets (Level 1) [Member]
Derivatives:
Total assets	9,960	9,550
Derivatives:
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]
Derivatives:
Foreign currency and cross-currency swap contracts	0	0
Derivatives:
Foreign currency and cross-currency swap contracts	0	0
Fair Value, Measurements, Recurring [Member] | Quoted prices in active markets for identical assets (Level 1) [Member] | Cross currency swap contracts [Member]
Derivatives:
Foreign currency and cross-currency swap contracts	0
Derivatives:
Foreign currency and cross-currency swap contracts	0	0
Fair Value, Measurements, Recurring [Member] | Quoted prices in active markets for identical assets (Level 1) [Member] | Interest rate swap contracts [Member]
Derivatives:
Interest rate contracts	0	0
Derivatives:
Interest rate swap 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	6,889	6,614
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	2,891	2,782
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	180	154
Fair Value, Measurements, Recurring [Member] | Significant other observable inputs (Level 2) [Member]
Derivatives:
Total assets	28,351	28,475
Derivatives:
Contingent consideration obligations in connection with business combinations	0	0
Total liabilities	511	534
Fair Value, Measurements, Recurring [Member] | Significant other observable inputs (Level 2) [Member] | Foreign currency contracts [Member]
Derivatives:
Foreign currency and cross-currency swap contracts	148	203
Derivatives:
Foreign currency and cross-currency swap contracts	15	4
Fair Value, Measurements, Recurring [Member] | Significant other observable inputs (Level 2) [Member] | Cross currency swap contracts [Member]
Derivatives:
Foreign currency and cross-currency swap contracts	20
Derivatives:
Foreign currency and cross-currency swap contracts	481	523
Fair Value, Measurements, Recurring [Member] | Significant other observable inputs (Level 2) [Member] | Interest rate swap contracts [Member]
Derivatives:
Interest rate contracts	30	41
Derivatives:
Interest rate swap contracts	15	7
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	239	299
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	1,826	1,759
Fair Value, Measurements, Recurring [Member] | Significant other observable inputs (Level 2) [Member] | Corporate debt securities - Financial [Member]
Assets:
Total available-for-sale investments	8,564	8,460
Fair Value, Measurements, Recurring [Member] | Significant other observable inputs (Level 2) [Member] | Corporate debt securities - Industrial [Member]
Assets:
Total available-for-sale investments	8,791	8,789
Fair Value, Measurements, Recurring [Member] | Significant other observable inputs (Level 2) [Member] | Corporate debt securities - Other [Member]
Assets:
Total available-for-sale investments	1,112	1,077
Fair Value, Measurements, Recurring [Member] | Significant other observable inputs (Level 2) [Member] | Residential mortgage-backed securities [Member]
Assets:
Total available-for-sale investments	1,740	1,940
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	1,801	1,719
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	4,080	4,188
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]
Derivatives:
Total assets	0	0
Derivatives:
Contingent consideration obligations in connection with business combinations	184	179	$ 194	$ 188
Total liabilities	184	179
Fair Value, Measurements, Recurring [Member] | Significant unobservable inputs (Level 3) [Member] | Foreign currency contracts [Member]
Derivatives:
Foreign currency and cross-currency swap contracts	0	0
Derivatives:
Foreign currency and cross-currency swap contracts	0	0
Fair Value, Measurements, Recurring [Member] | Significant unobservable inputs (Level 3) [Member] | Cross currency swap contracts [Member]
Derivatives:
Foreign currency and cross-currency swap contracts	0
Derivatives:
Foreign currency and cross-currency swap contracts	0	0
Fair Value, Measurements, Recurring [Member] | Significant unobservable inputs (Level 3) [Member] | Interest rate swap contracts [Member]
Derivatives:
Interest rate contracts	0	0
Derivatives:
Interest rate swap 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
	Mar. 31, 2017	Mar. 31, 2016
Business Combination, Contingent Consideration [Roll Forward]
Beginning balance	$ 179
Ending balance	184
Significant unobservable inputs (Level 3) [Member]
Business Combination, Contingent Consideration [Roll Forward]
Beginning balance	179	$ 188
Net changes in valuation	5	6
Ending balance	$ 184	$ 194

Fair value measurements (Detail

Fair value measurements (Details Textual) - USD ($) $ in Millions	Oct. 14, 2015	Mar. 31, 2017	Dec. 31, 2016	Oct. 31, 2015
Business Acquisition [Line Items]
Length of time hedged in foreign currency contracts (or less)		3 years
Aggregate fair value of long-term debt, including current portion		$ 36,200	$ 36,500
Carrying value of long-term debt, including current portion		34,092	$ 34,596
Dezima [Member]
Business Acquisition [Line Items]
Maximum additional consideration due contingent on milestones				$ 1,250
Estimated fair values of contingent consideration obligations	$ 110
BioVex [Member]
Business Acquisition [Line Items]
Business Combination, Additional Contingent Consideration Upon Achievement of Milestones		$ 325
Other Government-related and Corporate Debt Securities [Member]
Business Acquisition [Line Items]
Investment maturity period		5 years

Derivative instruments (Details

Derivative instruments (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Interest expense, net [Member]
Derivative Instruments Gain Loss [Line Items]
Unrealized gain (loss) on interest rate swaps	$ (19)	$ 149
Unrealized gain (loss) on the hedged debt	19	$ (149)
Foreign currency forward contracts [Member] | Derivatives designated as hedging instrument [Member]
Derivative Instruments Gain Loss [Line Items]
Derivative, notional amount	3,500		$ 3,400
Foreign currency forward contracts [Member] | Derivatives not designated as hedging instrument [Member]
Derivative Instruments Gain Loss [Line Items]
Derivative, notional amount	740		666
Foreign currency option contracts [Member] | Derivatives designated as hedging instrument [Member]
Derivative Instruments Gain Loss [Line Items]
Derivative, notional amount	425		608
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	2
Other Contract [Member]
Derivative Instruments Gain Loss [Line Items]
Amounts expected to be reclassified from AOCI into earnings over the next 12 months	2
Interest rate swap [Member] | Derivatives designated as hedging instrument [Member]
Derivative Instruments Gain Loss [Line Items]
Derivative, notional amount	$ 6,650		$ 6,650
Rate adjustment to LIBOR on interest rate swap agreements [Member] | Three-Month London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Derivative Instruments Gain Loss [Line Items]
Derivative, variable interest rate	0.40%		0.40%
Rate adjustment to LIBOR on interest rate swap agreements [Member] | Three-Month London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Derivative Instruments Gain Loss [Line Items]
Derivative, variable interest rate	2.00%		2.00%

Derivative instruments (Cross-c

Derivative instruments (Cross-currency Swaps) (Details) - Cash flow hedge [Member] - Cross currency swap contracts [Member] € in Millions, £ in Millions, SFr in Millions, $ in Millions	Mar. 31, 2017USD ($)	Mar. 31, 2017EUR (€)	Mar. 31, 2017CHF (SFr)	Mar. 31, 2017GBP (£)
2.125% Euro Notes Due 2019 [Member]
Derivative [Line Items]
Notional amount	$ 864	€ 675
1.25% 2022 euro Notes [Member]
Derivative [Line Items]
Notional amount	1,388	1,250
0.41% Swiss-franc-denominated bonds due 2023 (0.41% 2023 Swiss franc Bonds) [Member]
Derivative [Line Items]
Notional amount	704		SFr 700
2.00% €750 million notes due 2026 (2.00% 2026 euro Notes) [Member]
Derivative [Line Items]
Notional amount	833	€ 750
5.50% pound-sterling denominated notes due 2026 (5.50% 2026 pound sterling Notes) [Member]
Derivative [Line Items]
Notional amount	747			£ 475
4.00% pound-sterling denominated notes due 2029 (4.00% 2029 pound sterling Notes) [Member]
Derivative [Line Items]
Notional amount	$ 1,111			£ 700
Euro Member Countries, Euro | 2.125% Euro Notes Due 2019 [Member]
Derivative [Line Items]
Interest rate	2.125%	2.125%	2.125%	2.125%
Euro Member Countries, Euro | 1.25% 2022 euro Notes [Member]
Derivative [Line Items]
Interest rate	1.25%	1.25%	1.25%	1.25%
Euro Member Countries, Euro | 2.00% €750 million notes due 2026 (2.00% 2026 euro Notes) [Member]
Derivative [Line Items]
Interest rate	2.00%	2.00%	2.00%	2.00%
United States of America, Dollars | 2.125% Euro Notes Due 2019 [Member]
Derivative [Line Items]
Interest rate	2.60%	2.60%	2.60%	2.60%
United States of America, Dollars | 1.25% 2022 euro Notes [Member]
Derivative [Line Items]
Interest rate	3.20%	3.20%	3.20%	3.20%
United States of America, Dollars | 0.41% Swiss-franc-denominated bonds due 2023 (0.41% 2023 Swiss franc Bonds) [Member]
Derivative [Line Items]
Interest rate	3.40%	3.40%	3.40%	3.40%
United States of America, Dollars | 2.00% €750 million notes due 2026 (2.00% 2026 euro Notes) [Member]
Derivative [Line Items]
Interest rate	3.90%	3.90%	3.90%	3.90%
United States of America, Dollars | 5.50% pound-sterling denominated notes due 2026 (5.50% 2026 pound sterling Notes) [Member]
Derivative [Line Items]
Interest rate	6.00%	6.00%	6.00%	6.00%
United States of America, Dollars | 4.00% pound-sterling denominated notes due 2029 (4.00% 2029 pound sterling Notes) [Member]
Derivative [Line Items]
Interest rate	4.50%	4.50%	4.50%	4.50%
Switzerland, Francs | 0.41% Swiss-franc-denominated bonds due 2023 (0.41% 2023 Swiss franc Bonds) [Member]
Derivative [Line Items]
Interest rate	0.41%	0.41%	0.41%	0.41%
United Kingdom, Pounds | 5.50% pound-sterling denominated notes due 2026 (5.50% 2026 pound sterling Notes) [Member]
Derivative [Line Items]
Interest rate	5.50%	5.50%	5.50%	5.50%
United Kingdom, Pounds | 4.00% pound-sterling denominated notes due 2029 (4.00% 2029 pound sterling Notes) [Member]
Derivative [Line Items]
Interest rate	4.00%	4.00%	4.00%	4.00%

Derivative instruments (Effecti

Derivative instruments (Effective Portion of Unrealized Gain (Loss)) (Details) - Cash flow hedge [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
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	$ 17	$ (117)
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	(47)	(148)
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	$ 64	$ 31

Derivative instruments (Locatio

Derivative instruments (Locations and Effective Portions of Gain (Loss) Reclassified out of AOCI) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Derivative Instruments Gain Loss [Line Items]
Product sales	$ 5,199	$ 5,239
Interest and other income, net	195	150
Income before income taxes	2,460	2,258
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	57	96
Interest and other income, net	74	70
Income before income taxes	131	166
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	131	166
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	57	96
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	$ 74	$ 70

Derivative instruments (Locat54

Derivative instruments (Locations and Gain (Loss) for Derivatives Not Designated as Hedging Instruments) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Foreign currency contracts [Member] | Interest And Other Income [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	$ 1	$ (10)

Derivative instruments (Fair Va

Derivative instruments (Fair Value of Derivatives) (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Assets
Total derivative assets, fair value	$ 198,000,000	$ 244,000,000
Liabilities
Total derivative liabilities, fair value	511,000,000	534,000,000
Derivatives designated as hedging instrument [Member]
Assets
Total derivative assets, fair value	198,000,000	244,000,000
Liabilities
Total derivative liabilities, fair value	510,000,000	534,000,000
Derivatives designated as hedging instrument [Member] | Foreign currency contracts [Member] | Other current assets/Other noncurrent assets [Member]
Assets
Total derivative assets, fair value	148,000,000	203,000,000
Derivatives designated as hedging instrument [Member] | Foreign currency contracts [Member] | Accrued liabilities/Other noncurrent liabilities [Member]
Liabilities
Total derivative liabilities, fair value	14,000,000	4,000,000
Derivatives designated as hedging instrument [Member] | Cross currency swap contracts [Member] | Other current assets/Other noncurrent assets [Member]
Assets
Total derivative assets, fair value	20,000,000	0
Derivatives designated as hedging instrument [Member] | Cross currency swap contracts [Member] | Accrued liabilities/Other noncurrent liabilities [Member]
Liabilities
Total derivative liabilities, fair value	481,000,000	523,000,000
Derivatives designated as hedging instrument [Member] | Interest rate swap contracts [Member] | Other current assets/Other noncurrent assets [Member]
Assets
Total derivative assets, fair value	30,000,000	41,000,000
Derivatives designated as hedging instrument [Member] | Interest rate swap contracts [Member] | Accrued liabilities/Other noncurrent liabilities [Member]
Liabilities
Total derivative liabilities, fair value	15,000,000	7,000,000
Derivatives not designated as hedging instrument [Member]
Assets
Total derivative assets, fair value	0	0
Liabilities
Total derivative liabilities, fair value	1,000,000	0
Derivatives not designated as hedging instrument [Member] | Foreign currency contracts [Member] | Other current assets [Member]
Assets
Total derivative assets, fair value	0	0
Derivatives not designated as hedging instrument [Member] | Foreign currency contracts [Member] | Accrued liabilities [Member]
Liabilities
Total derivative liabilities, fair value	$ 1,000,000	$ 0

Contingencies and commitments (

Contingencies and commitments (Details Textual) (Details) - lawsuit	Apr. 20, 2017	Feb. 22, 2017	Mar. 31, 2017
Sensipar (cinacalcet) Patent Litigation [Member]
Loss Contingencies [Line Items]
Gain Contingency, Number of Lawsuits Filed			13
Zydus Patent Litigation [Member]
Loss Contingencies [Line Items]
Gain Contingency, Number of Lawsuits Filed		14
KYPROLIS (carfilzomib) Patent Litigation [Member]
Loss Contingencies [Line Items]
Gain Contingency, Number of Lawsuits Filed			9
Subsequent Event [Member] | KYPROLIS (carfilzomib) Patent Litigation [Member]
Loss Contingencies [Line Items]
Gain Contingency, Number of Lawsuits Filed	10