Amgen (AMGN) 10-Q 25 Apr 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	Apr. 18, 2018
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, 2018
Amendment Flag	false
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		661,706,007

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues:
Product sales	$ 5,343	$ 5,199
Other revenues	211	265
Total revenues	5,554	5,464
Operating expenses:
Cost of sales	944	996
Research and development	760	769
Selling, general and administrative	1,127	1,064
Other	(3)	44
Total operating expenses	2,828	2,873
Operating income	2,726	2,591
Interest expense, net	338	326
Interest and other income, net	231	195
Income before income taxes	2,619	2,460
Provision for income taxes	308	389
Net income	$ 2,311	$ 2,071
Earnings per share:
Basic (in usd per share)	$ 3.27	$ 2.81
Diluted (in usd per share)	$ 3.25	$ 2.79
Shares used in calculation of earnings per share:
Basic (in shares)	707	737
Diluted (in shares)	711	741
Dividends paid per share (in usd per share)	$ 1.32	$ 1.15

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 2,311	$ 2,071
Other comprehensive (loss) income, net of reclassification adjustments and taxes:
Foreign currency translation gains	29	24
Effective portion of cash flow hedges	6	(73)
Net unrealized (losses) gains on available-for-sale securities	(352)	158
Other	2	0
Other comprehensive (loss) income, net of taxes	(315)	109
Comprehensive income	$ 1,996	$ 2,180

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 9,741	$ 3,800
Marketable securities	22,431	37,878
Trade receivables, net	3,633	3,237
Inventories	2,952	2,834
Other current assets	1,932	1,727
Total current assets	40,689	49,476
Property, plant and equipment, net	4,943	4,989
Intangible assets, net	8,779	8,609
Goodwill	14,771	14,761
Other assets	1,982	2,119
Total assets	71,164	79,954
Current liabilities:
Accounts payable	1,089	1,352
Accrued liabilities	7,207	6,516
Current portion of long-term debt	2,183	1,152
Total current liabilities	10,479	9,020
Long-term debt	33,358	34,190
Long-term deferred tax liabilities	1,215	1,166
Long-term tax liabilities	9,166	9,099
Other noncurrent liabilities	1,326	1,238
Contingencies and commitments
Stockholders’ equity:
Common stock and additional paid-in capital; $0.0001 par value; 2,750.0 shares authorized; outstanding — 666.4 shares in 2018 and 722.2 shares in 2017	31,001	30,992
Accumulated deficit	(14,387)	(5,072)
Accumulated other comprehensive loss	(994)	(679)
Total stockholders’ equity	15,620	25,241
Total liabilities and stockholders’ equity	$ 71,164	$ 79,954

Condensed Consolidated Balance5

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Millions	Mar. 31, 2018	Dec. 31, 2017
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	666.4	722.2

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities:
Net income	$ 2,311	$ 2,071
Depreciation and amortization	471	524
Share-based compensation expense	54	60
Deferred income taxes	(72)	(77)
Other items, net	44	15
Changes in operating assets and liabilities, net of acquisitions:
Trade receivables, net	(384)	(47)
Inventories	(107)	(125)
Other assets	(135)	(155)
Accounts payable	(278)	(20)
Accrued income taxes, net	353	268
Long-term tax liability	63	124
Other liabilities	407	(253)
Net cash provided by operating activities	2,727	2,385
Cash flows from investing activities:
Purchases of marketable securities	(2,732)	(7,077)
Proceeds from sales of marketable securities	16,694	5,612
Proceeds from maturities of marketable securities	900	1,528
Cash acquired in acquisition, net of cash paid	197	0
Purchases of property, plant and equipment	(155)	(168)
Other	2	(52)
Net cash provided by (used in) investing activities	14,906	(157)
Cash flows from financing activities:
Repayment of debt	0	(605)
Repurchases of common stock	(10,697)	(586)
Dividends paid	(951)	(847)
Other	(44)	(73)
Net cash used in financing activities	(11,692)	(2,111)
Increase in cash and cash equivalents	5,941	117
Cash and cash equivalents at beginning of period	3,800	3,241
Cash and cash equivalents at end of period	$ 9,741	$ 3,358

Summary of significant accounti

Summary of significant accounting policies	3 Months Ended
	Mar. 31, 2018
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, 2018 and 2017 , 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, 2017 . 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 $7.7 billion and $7.6 billion as of March 31, 2018 and December 31, 2017 , 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 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 require an entity to recognize revenue when control of promised goods or services is transferred to the customer at an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. We adopted this new standard as of January 1, 2018, by using the modified-retrospective method. See Note 4, Revenues. In January 2016, the FASB issued a new accounting standard that amends the accounting and disclosures of financial instruments, including a provision requiring that equity investments (except for investments accounted for under the equity method of accounting) be measured at fair value, with changes in fair value recognized in current earnings. With the exception of equity investments that were previously accounted for at cost, a modified-retrospective approach was used to reflect the cumulative-effect of adoption as an adjustment to retained earnings as of the beginning of the fiscal year. The new standard will be applied prospectively to investments that were previously accounted for at cost. Upon adoption, on January 1, 2018, we recorded an immaterial adjustment to Accumulated deficit from Accumulated other comprehensive income (loss) (AOCI), which represented the net unrealized gain on all equity investments with a readily determinable fair value as of December 31, 2017. The impact that this new standard has on our Condensed Consolidated Statements of Income after adoption will depend on the changes in fair values of equity securities in our portfolio in the future. See Note 7, Investments. In October 2016, the FASB issued a new accounting standard that amends the income tax accounting guidance for intra-entity transfers of assets other than inventory. The new standard requires that entities recognize the income tax consequences of an intercompany transfer of an asset, other than inventory, in the period the transfer occurs. The current exception to defer the recognition of any tax impact on intercompany transfers of inventory until the inventory is sold to a third party remains unaffected. We adopted this standard as of January 1, 2018, and will apply it prospectively to any transaction occurring on or after the adoption date. The adoption of this standard did not have a material impact on our condensed consolidated financial statements, however the impact on our condensed consolidated financial statements in future periods will depend on the facts and circumstances of future transactions. In January 2017, the FASB issued a new accounting standard that changes the definition of a business to assist entities with the evaluation of when a set of assets acquired or disposed of should be considered a business. The new standard requires that an entity evaluate whether substantially all of 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 of assets would not be considered a business. The new standard also requires that a business include at least one substantive process and narrows the definition of outputs. We adopted this standard as of January 1, 2018 and will apply it prospectively. Adoption of this new standard may result in more transactions being accounted for as asset acquisitions versus business combinations; however, the impact on our condensed consolidated financial statements in future periods will depend on the facts and circumstances of future transactions. 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 do not expect that this standard will have a material impact on our Condensed Consolidated Statements of Income, but we do expect that upon adoption, it will have a material impact on our assets and liabilities on our Condensed Consolidated Balance Sheets. The primary effect of adoption will be the requirement to record right-of-use assets and corresponding lease obligations for current operating leases. In addition, the standard will require that we update the systems, processes and controls we use to track, record and account for our lease portfolio. We have selected a lease accounting information system and engaged third-party consultants to provide system implementation services. System readiness, including the implementation and functionality of software procured from third-party providers, is essential to enable preparation of the financial information required for this standard. 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 as an allowance through net income 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, but may be adopted earlier, beginning on January 1, 2019. With certain exceptions, adjustments are to be applied by using a modified-retrospective approach by reflecting adjustments through a cumulative-effect impact on retained earnings as of the beginning of the fiscal year of adoption. We are currently evaluating the impact that this new standard will have on our condensed consolidated financial statements. In March 2018, the FASB issued a new accounting standard to incorporate Securities and Exchange Commission (SEC) Staff Accounting Bulletin No. 118 (SAB 118), which addresses the accounting implications of the major tax reform legislation, Public Law No. 115-97, commonly referred to as the Tax Cuts and Jobs Act (the 2017 Tax Act), enacted on December 22, 2017. SAB 118 allows a company to record provisional amounts during a measurement period not to extend beyond one year of the enactment date and was effective upon issuance. We continue to analyze the 2017 Tax Act, and in certain areas, have made reasonable estimates of the effects on our condensed consolidated financial statements and tax disclosures. See Note 5, Income taxes.

Restructuring

Restructuring	3 Months Ended
	Mar. 31, 2018
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 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 estimate that we will incur $825 million to $900 million of pre-tax charges in connection with our restructuring, including: (i) separation and other headcount-related costs of $560 million to $600 million with respect to staff reductions and (ii) asset-related charges of $265 million to $300 million that consist primarily of asset impairments, accelerated depreciation and other related costs resulting from the consolidation of our worldwide facilities. Through March 31, 2018 , we incurred a total of $558 million of separation costs and other headcount-related costs and $243 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, 2018 and 2017 , were not significant. As of March 31, 2018 , the total restructuring liability was not significant.

Business combinations

Business combinations	3 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
Business combinations	Business combinations Kirin-Amgen, Inc. During the first quarter of 2018, we acquired the remaining 50% ownership of Kirin-Amgen, Inc. (K-A) from Kirin Holdings Company, Limited (Kirin), making K-A a wholly owned subsidiary of Amgen. Upon its acquisition, K-A’s operations have been included in our condensed consolidated financial statements commencing on the share acquisition date. The acquisition relieved Amgen of future royalty obligations to K-A. K-A is a corporation that was established in 1984 as a 50 - 50 joint venture with Kirin to fund the global development of EPOGEN ® (epoetin alfa). Over time, the scope of the collaboration was expanded to also include the products NEUPOGEN ® (filgrastim), Neulasta ® (pegfilgrastim), Aranesp ® (darbepoetin alfa), Nplate ® (romiplostim) and brodalumab. K-A held the intellectual property for each of these products and licensed the associated marketing rights in Asia to Kyowa Hakko Kirin (KHK), Kirin’s pharmaceutical subsidiary, and in most other territories to Amgen. In return, Amgen and KHK paid royalties to K-A, and K-A reimbursed Amgen and KHK’s research and development (R&D) expenses. K-A had also given Johnson & Johnson (J&J) exclusive licenses to manufacture and market recombinant human erythropoietin for all geographic areas of the world outside the United States, China and Japan. Under this agreement, J&J pays royalties to K-A based on product sales. Prior to the share acquisition date, we owned 50% of K-A and accounted for our interest in K-A by using the equity method of accounting, which included recording our share of K-A’s profits or losses in Selling, general and administrative expense in the Condensed Consolidated Statements of Income. The carrying value of our equity method investment in K-A was $570 million as of December 31, 2017, and was included in Other assets in the Condensed Consolidated Balance Sheet. The transaction was accounted for as a step acquisition of a business in which we were required to remeasure our existing 50% ownership interest at fair value. In addition, we were required to effectively settle our preexisting relationships with K-A, which resulted in a loss. Together the gain on the remeasurement of our existing ownership interest and the loss from the settlement of the preexisting relationship resulted in a net gain of $80 million , which was recorded in Interest and other income, net, in the Condensed Consolidated Statements of Income. The primary means of consideration for this transaction was a payment of $780 million in cash. The aggregate share acquisition date consideration to acquire the remaining 50% ownership in K-A and the fair value of Amgen’s preacquisition investment consisted of the following (in millions): Amount Total cash paid to Kirin $ 780 Fair value of contingent consideration obligation 45 Loss on settlement of preexisting relationship (168 ) Total consideration transferred to acquire K-A 657 Fair value of Amgen’s investment in K-A 825 Total acquisition date fair value $ 1,482 In connection with this acquisition, we are obligated to make single-digit-percentage royalty payments to Kirin contingent upon sales of brodalumab. The estimated fair value of this contingent consideration obligation is $45 million as of the share acquisition date. The fair values of assets acquired and liabilities assumed included cash of $977 million , licensing rights of $470 million , deferred tax liabilities of $102 million , other assets and liabilities of $131 million and goodwill of $6 million . The estimated fair value of acquired licensing rights was determined by using a probability-weighted income approach, which discounts expected future cash flows to present value by using a discount rate that represents the estimated rate that market participants would use to value the assets. The projected cash flows were based on certain assumptions, including estimates of future revenues and expenses and the time and resources needed to maintain the assets through commercialization. The licensing rights will be amortized over a weighted-average period of four years by using the straight-line method. The excess of the share acquisition date consideration over the fair values assigned to the assets acquired and the liabilities assumed of $6 million was recorded as goodwill, which is not deductible for tax purposes. The $131 million in other assets and liabilities represents primarily receivables for royalties earned by K-A, but not yet received, offset partially by payables representing R&D expenses incurred, but not yet reimbursed by K-A. The fair value estimates for the assets acquired and liabilities assumed were based on preliminary calculations and valuations, and our estimates and assumptions are subject to change as we obtain additional information during the measurement period (up to one year from the share acquisition date). The primary areas of those preliminary estimates that are not yet finalized relate to the valuation of licensing rights, contingent consideration and tax-related items. Pro forma results of operations for this acquisition have not been presented because this acquisition is not material to our consolidated results of operations.

Revenues Revenues

Revenues Revenues	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Adoption of new revenue recognition standard On January 1, 2018, we adopted the FASB’s new accounting standard that amends the guidance for the recognition of revenue from contracts with customers to transfer goods and services by using the modified-retrospective method applied to those contracts that were not completed as of January 1, 2018. The results for the reporting period beginning after January 1, 2018, are presented in accordance with the new standard, although comparative information has not been restated and continues to be reported under the accounting standards and policies in effect for those periods. See Note 1, Summary of significant accounting policies, to the consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2017. Upon adoption, we recorded a net decrease of $25 million to Accumulated deficit due to the cumulative impact of adopting the new standard—with the impact related primarily to the acceleration of deferred revenue, net of related deferred tax impact. The adoption of this new standard had an immaterial impact on our reported total revenues and operating income as compared to what reported amounts would have been under the prior standard, and we expect the impact of adoption in future periods to be immaterial. Our accounting policies under the new standard were applied prospectively and are noted below. Revenues Product sales Revenue from product sales is recognized upon transfer of control of a product to a customer, generally upon delivery, based on an amount that reflects the consideration we expect to be entitled to, net of accruals for estimated rebates, wholesaler chargebacks, discounts and other deductions (collectively, sales deductions) and returns. Other revenues Other revenues consist primarily of royalty income and corporate partner revenues. Royalties from licensees are based on third-party sales of licensed products and are recorded when the related third-party product sale occurs. Royalty estimates are based on historical and forecasted sales trends. Corporate partner revenues are composed primarily of license fees and milestones earned and our share of commercial profits generated from collaborations. See Arrangements with multiple-performance obligations, discussed below. Arrangements with multiple-performance obligations From time to time, we enter into arrangements for the R&D, manufacture and/or commercialization of products and product candidates. Such arrangements may require us to deliver various rights, services and/or goods, including (i) intellectual property rights or licenses; (ii) R&D services; (iii) manufacturing services; and/or (iv) commercialization services. The underlying terms of these arrangements generally provide for consideration to Amgen in the form of non-refundable, up-front license payments, R&D and commercial performance milestone payments, cost sharing and/or royalty payments. In arrangements involving more than one performance obligation, each required performance obligation is evaluated to determine whether it qualifies as a distinct performance obligation based on whether (i) the customer can benefit from the good or service either on its own or together with other resources that are readily available and (ii) the good or service is separately identifiable from other promises in the contract. The consideration under the arrangement is then allocated to each separate distinct performance obligation based on their respective relative stand-alone selling price. The estimated selling price of each deliverable reflects our best estimate of what the selling price would be if the deliverable was regularly sold by us on a stand-alone basis or using an adjusted market assessment approach if selling price on a stand-alone basis is not available. The consideration allocated to each distinct performance obligation is recognized as revenue when control is transferred for the related goods or services. Consideration associated with at-risk substantive performance milestones is recognized as revenue when it is probable that a significant reversal of the cumulative revenue recognized will not occur. Financing and payment Our payment terms vary by the type and location of our customer and the products or services offered. Payment terms differ by jurisdiction and customer but payment is generally required in a term ranging from 30 to 120 days from date of shipment or satisfaction of the performance obligation. For certain products or services and customer types, we may require payment before the products are delivered or services are rendered to the customer. Practical expedients and exemptions Taxes collected from customers and remitted to government authorities and that are related to the sales of the Company’s products, primarily in Europe, are excluded from revenues. Sales commissions are expensed when incurred because the amortization period would have been one year or less. These costs are recorded in Selling, general and administrative expense in the Condensed Consolidated Statements of Income. We do not disclose the value of unsatisfied performance obligations for (i) contracts with original expected lengths of one year or less or (ii) contracts for which we recognize revenue at the amount to which we have the right to invoice for the services performed. Revenues by product and by geographic area We operate in one business segment: human therapeutics. Therefore, results of our operations are reported on a consolidated basis for purposes of segment reporting, consistent with internal management reporting. Revenues by product and by geographic area, based on the customer’s location, are presented below. Rest of world (ROW) revenues relate to products that are sold principally in Europe. Revenues were as follows (in millions): Three months ended March 31, 2018 2017 US ROW Total US ROW Total Neulasta ® $ 1,009 $ 146 $ 1,155 $ 1,048 $ 162 $ 1,210 Enbrel ® 1,050 55 1,105 1,118 63 1,181 Sensipar ® / Mimpara ® 409 88 497 337 84 421 Prolia ® 320 174 494 279 146 425 Aranesp ® 225 229 454 278 233 511 XGEVA ® 332 113 445 298 104 402 EPOGEN ® 244 — 244 270 — 270 Other products 558 391 949 467 312 779 Total product sales 1 $ 4,147 $ 1,196 $ 5,343 $ 4,095 $ 1,104 $ 5,199 Other revenues 211 265 Total revenues 2 $ 5,554 $ 5,464 (1) Total product sales includes $34 million related to hedging losses and $57 million related to hedging gains for the three months ended March 31, 2018 and 2017, respectively. (2) Prior-period amounts are not adjusted under the modified-retrospective method of adoption. Sales deductions Product sales are recorded net of sales deductions and returns, which are established at the time of sale. We analyze the adequacy of our accruals for sales deductions quarterly. Amounts accrued for sales deductions are adjusted when trends or significant events indicate that an adjustment is appropriate. Accruals are also adjusted to reflect actual results. Accruals for sales deductions are based primarily on estimates of the amounts earned or to be claimed on the related sales. These estimates take into consideration current contractual and statutory requirements, specific known market events and trends, internal and external historical data and forecasted customer buying patterns. Sales deductions are substantially product specific and therefore, for any given period can be affected by the mix of products sold. Included in sales deductions are immaterial net adjustments related to prior-period sales due to changes in estimates. Historically, such amounts have represented less than 1% of the aggregate sales deductions charged against product sales. Product returns Returns are estimated through comparison of historical return data to their related sales on a production lot basis. Historical rates of return are determined for each product and are adjusted for known or expected changes in the marketplace specific to each product, when appropriate. Historically, sales return provisions have amounted to less than 1% of gross product sales. Changes in estimates for prior-period sales return provisions have historically been insignificant.

Income taxes

Income taxes	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income taxes	Income taxes The effective tax rates for the three months ended March 31, 2018 and 2017 , were 11.8% and 15.8% , respectively. The decrease in our effective tax rate for the three months ended March 31, 2018 , was due primarily to the impacts of U.S. tax reform, including the reduction in the U.S. statutory tax rate, offset partially by U.S. tax on foreign earnings. On December 22, 2017, the United States enacted the 2017 Tax Act, which imposes a repatriation tax on accumulated earnings of foreign subsidiaries, implements a territorial tax system together with a current tax on certain foreign earnings and lowers the general corporate income tax rate to 21%. In March 2018, the FASB issued a new accounting standard to incorporate SAB 118, which permits us to record provisional amounts during a measurement period not to extend beyond one year of the enactment date. We continue to analyze the 2017 Tax Act, and in certain areas, have made reasonable estimates of the effects on our condensed consolidated financial statements and tax disclosures. The 2017 Tax Act includes U.S. taxation on certain foreign earnings, referred to as Global Intangible Low-Taxed Income (foreign intangible income), effective January 1, 2018. The FASB allows an entity to make an accounting policy election to either recognize deferred taxes for temporary basis differences expected to reverse as foreign intangible income in future years or provide for the tax expense related to the foreign intangible income as a period expense in the year it is incurred. We have recorded no provisional amount for deferred taxes on the foreign intangible income because more time is needed to analyze the data in order to make an accounting policy election. We consider our key estimates on the repatriation tax, the net deferred tax remeasurement, the impact on our unrealized tax benefits and the accounting policy election on temporary basis differences related to the foreign intangible income to be incomplete due to our continuing analysis of final year-end data and tax positions. We are still accumulating and processing data to update our underlying calculations and we expect the U.S. Treasury and regulators may issue further guidance, among other things, therefore our estimates may change during 2018. However, we expect to complete our analysis within the measurement period. 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 of 4% 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 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. As previously disclosed, we received a Revenue Agent Report (RAR) from the Internal Revenue Service (IRS) for the years 2010, 2011 and 2012. The RAR proposes to make significant adjustments that relate primarily to the allocation of profits between certain of our entities in the United States and the U.S. territory of Puerto Rico. On November 29, 2017, we received a modified RAR that revised the IRS calculations but continued to propose substantial adjustments. We disagree with the proposed adjustments and are pursuing resolution through the IRS administrative appeals process, which we believe 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. We are currently under examination by a number of other state and foreign tax jurisdictions. During the three months ended March 31, 2018 , the gross amounts of our unrecognized tax benefits (UTBs) increased $75 million as a result of tax positions taken during the current year. Substantially all of the UTBs as of March 31, 2018 , if recognized, would affect our effective tax rate.

Earnings per share

Earnings per share	3 Months Ended
	Mar. 31, 2018
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 by 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 2018 2017 Income (Numerator): Net income for basic and diluted EPS $ 2,311 $ 2,071 Shares (Denominator): Weighted-average shares for basic EPS 707 737 Effect of dilutive securities 4 4 Weighted-average shares for diluted EPS 711 741 Basic EPS $ 3.27 $ 2.81 Diluted EPS $ 3.25 $ 2.79 The decrease in weighted-average shares during three months ended March 31, 2018 compared to the prior period, was due to share repurchases. See Note 11, Stockholders’ equity. For the three months ended March 31, 2018 and 2017 , the number of anti-dilutive employee stock-based awards excluded from the computation of diluted EPS was not significant.

Investments

Investments	3 Months Ended
	Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Investments	Investments Available-for-sale investments The amortized cost, gross unrealized gains, gross unrealized losses and fair values of available-for-sale investments by type of security were as follows (in millions): Type of security as of March 31, 2018 Amortized cost Gross unrealized gains Gross unrealized losses Fair value U.S. Treasury securities $ 5,207 $ — $ (104 ) $ 5,103 Other government-related debt securities: U.S. 132 — (3 ) 129 Foreign and other 1,714 3 (43 ) 1,674 Corporate debt securities: Financial 6,189 1 (137 ) 6,053 Industrial 5,687 6 (128 ) 5,565 Other 916 1 (21 ) 896 Residential-mortgage-backed securities 1,745 — (46 ) 1,699 Other mortgage- and asset-backed securities 1,293 — (26 ) 1,267 Money market mutual funds 9,234 — — 9,234 Other short-term interest-bearing securities 50 — — 50 Total available-for-sale investments $ 32,167 $ 11 $ (508 ) $ 31,670 Type of security as of December 31, 2017 Amortized cost Gross unrealized gains Gross unrealized losses Fair value U.S. Treasury securities $ 8,313 $ 1 $ (72 ) $ 8,242 Other government-related debt securities: U.S. 225 — (2 ) 223 Foreign and other 2,415 18 (11 ) 2,422 Corporate debt securities: Financial 10,089 17 (34 ) 10,072 Industrial 9,688 34 (52 ) 9,670 Other 1,393 3 (6 ) 1,390 Residential-mortgage-backed securities 2,198 — (30 ) 2,168 Other mortgage- and asset-backed securities 2,312 — (15 ) 2,297 Money market mutual funds 3,245 — — 3,245 Other short-term interest-bearing securities 1,440 — — 1,440 Total interest-bearing securities 41,318 73 (222 ) 41,169 Equity securities 135 14 — 149 Total available-for-sale investments $ 41,453 $ 87 $ (222 ) $ 41,318 The fair values of available-for-sale investments by location in the Condensed Consolidated Balance Sheets were as follows (in millions): Condensed Consolidated Balance Sheets location March 31, December 31, Cash and cash equivalents $ 9,239 $ 3,291 Marketable securities 22,431 37,878 Other assets — 149 Total available-for-sale investments $ 31,670 $ 41,318 Cash and cash equivalents in the above table excludes bank account cash of $502 million and $509 million as of March 31, 2018 and December 31, 2017 , respectively. Other assets as of December 31, 2017, consisted of equity securities, which are no longer classified as available-for-sale. As a result of the adoption of the new accounting standard related to the classification and measurement of financial instruments on January 1, 2018, equity investments (except for investments accounted for under the equity method of accounting) are now measured at fair value, with changes in fair value recognized in earnings. These investments were previously measured at fair value, with changes in fair value recognized in AOCI. Accordingly, these securities are no longer classified as available-for-sale and their presentation is not comparable to the presentation as of December 31, 2017. See Note 1, Summary of significant accounting policies, as well as Equity securities discussed below. 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 $ 9,403 $ 6,733 Maturing after one year through three years 6,579 12,820 Maturing after three years through five years 10,934 13,836 Maturing after five years through ten years 1,788 3,263 Maturing after ten years — 52 Mortgage- and asset-backed securities 2,966 4,465 Total interest-bearing securities $ 31,670 $ 41,169 For the three months ended March 31, 2018 and 2017 , realized gains on interest-bearing securities were $17 million and $31 million , respectively, and realized losses on interest-bearing securities were $151 million and $84 million , respectively. The cost of securities sold is based on the specific-identification method. The fair values and gross unrealized losses of available-for-sale investments in an unrealized loss position aggregated by type and length of time that the securities have been in a continuous loss position were as follows (in millions): Less than 12 months 12 months or more Type of security as of March 31, 2018 Fair value Unrealized losses Fair value Unrealized losses U.S. Treasury securities $ 5,023 $ (103 ) $ 53 $ (1 ) Other government-related debt securities: U.S. 103 (2 ) 26 (1 ) Foreign and other 1,367 (39 ) 88 (4 ) Corporate debt securities: Financial 5,648 (128 ) 325 (9 ) Industrial 4,702 (117 ) 397 (11 ) Other 727 (18 ) 93 (3 ) Residential-mortgage-backed securities 1,464 (39 ) 226 (7 ) Other mortgage- and asset-backed securities 1,105 (22 ) 162 (4 ) Total $ 20,139 $ (468 ) $ 1,370 $ (40 ) Less than 12 months 12 months or more Type of security as of December 31, 2017 Fair value Unrealized losses Fair value Unrealized losses U.S. Treasury securities $ 7,728 $ (70 ) $ 195 $ (2 ) Other government-related debt securities: U.S. 188 (1 ) 34 (1 ) Foreign and other 1,163 (9 ) 115 (2 ) Corporate debt securities: Financial 5,928 (28 ) 462 (6 ) Industrial 5,760 (43 ) 612 (9 ) Other 868 (4 ) 117 (2 ) Residential-mortgage-backed securities 1,838 (24 ) 276 (6 ) Other mortgage- and asset-backed securities 1,777 (12 ) 250 (3 ) Total $ 25,250 $ (191 ) $ 2,061 $ (31 ) 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, 2018 and December 31, 2017 , we believe the cost bases for our available-for-sale investments were recoverable in all material respects. Equity securities We held investments in equity securities with readily determinable fair values of $155 million and $149 million as of March 31, 2018 and December 31, 2017 , respectively, which are included in Other assets in the Condensed Consolidated Balance Sheets. As a result of the adoption of the new accounting standard related to the classification and measurement of financial instruments on January 1, 2018, equity investments (except for investments accounted for under the equity method of accounting) are now measured at fair value, with changes in fair value recognized in earnings. These investments were previously measured at fair value, with changes in fair value recognized in AOCI. Accordingly, these securities are no longer classified as available-for-sale and their presentation is not comparable to the presentation as of December 31, 2017 . See Note 1, Summary of significant accounting policies, as well as Available-for-sale investments discussed above. Gains and losses recognized on equity securities, including gains and losses recognized on sales, were not material for the three months ended March 31, 2018 and 2017. Unrealized gains and losses on equity securities held as of March 31, 2018 , were not material. Limited partnership investments We held limited partnership investments of $254 million and $213 million as of March 31, 2018 and December 31, 2017 , respectively, which are included in Other assets in the Condensed Consolidated Balance Sheets. These investments are measured by using the net asset values of the underlying investments as a practical expedient. These investments are typically redeemable only through distributions upon liquidation of the underlying assets. As of March 31, 2018 , unfunded additional commitments to be made during the next several years for these investments were approximately $90 million .

Inventories

Inventories	3 Months Ended
	Mar. 31, 2018
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consisted of the following (in millions): March 31, December 31, Raw materials $ 275 $ 232 Work in process 1,627 1,668 Finished goods 1,050 934 Total inventories $ 2,952 $ 2,834

Goodwill and other intangible a

Goodwill and other intangible assets	3 Months Ended
	Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and other intangible assets	Goodwill and other intangible assets Goodwill Changes in the carrying amount of goodwill were as follows (in millions): Three months ended Beginning balance $ 14,761 Addition from K-A acquisition 6 Currency translation adjustment 4 Ending balance $ 14,771 Other intangible assets Other intangible assets consisted of the following (in millions): March 31, 2018 December 31, 2017 Gross carrying amount Accumulated amortization Intangible assets, net Gross carrying amount Accumulated amortization Intangible assets, net Finite-lived intangible assets: Developed-product-technology rights $ 12,609 $ (6,974 ) $ 5,635 $ 12,589 $ (6,796 ) $ 5,793 Licensing rights 3,745 (1,699 ) 2,046 3,275 (1,601 ) 1,674 Marketing-related rights 1,316 (948 ) 368 1,319 (920 ) 399 R&D technology rights 1,177 (834 ) 343 1,161 (804 ) 357 Total finite-lived intangible assets 18,847 (10,455 ) 8,392 18,344 (10,121 ) 8,223 Indefinite-lived intangible assets: In-process research and development 387 — 387 386 — 386 Total other intangible assets $ 19,234 $ (10,455 ) $ 8,779 $ 18,730 $ (10,121 ) $ 8,609 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 milestone, royalty 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. During the three months ended March 31, 2018, licensing rights increased due to the K-A share acquisition. See Note 3, Business combinations. Marketing-related intangible assets consist primarily of rights related to the sale and distribution of marketed products. 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, 2018 , IPR&D consists primarily of the oprozomib project, acquired in the acquisition of Onyx Pharmaceuticals, Inc., in 2013. All IPR&D projects have major risks and uncertainties associated with the timely and successful completion of the development and commercialization of product candidates, including our ability to confirm 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 the completion of clinical trials that demonstrate that 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, affect the revenues a product can generate. Consequently, the eventual realized value, if any, of the 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, 2018 and 2017 , we recognized amortization expense associated with our finite-lived intangible assets, included primarily in Cost of sales in the Condensed Consolidated Statements of Income, of $320 million and $373 million , respectively. The total estimated amortization expense for our finite-lived intangible assets for the remaining nine months ending December 31, 2018 , and the years ending December 31, 2019 , 2020 , 2021 , 2022 and 2023 , are $1.0 billion , $1.3 billion , $1.2 billion , $1.0 billion , $0.9 billion and $0.9 billion , respectively.

Financing arrangements

Financing arrangements	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Financing arrangements	Financing arrangements Our borrowings consisted of the following (in millions): March 31, December 31, 6.15% notes due 2018 (6.15% 2018 Notes) $ 500 $ 500 4.375% €550 million notes due 2018 (4.375% 2018 euro Notes) 684 653 5.70% notes due 2019 (5.70% 2019 Notes) 1,000 1,000 1.90% notes due 2019 (1.90% 2019 Notes) 700 700 Floating Rate Notes due 2019 550 550 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) 832 810 4.50% notes due 2020 (4.50% 2020 Notes) 300 300 2.125% notes due 2020 (2.125% 2020 Notes) 750 750 Floating Rate Notes due 2020 300 300 2.20% notes due 2020 (2.20% 2020 Notes) 700 700 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) 1,541 1,501 2.70% notes due 2022 (2.70% 2022 Notes) 500 500 2.65% notes due 2022 (2.65% 2022 Notes) 1,500 1,500 3.625% notes due 2022 (3.625% 2022 Notes) 750 750 0.41% CHF700 million bonds due 2023 (0.41% 2023 Swiss franc Bonds) 734 719 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) 924 901 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) 666 642 3.20% notes due 2027 (3.20% 2027 Notes) 1,000 1,000 4.00% £700 million notes due 2029 (4.00% 2029 pound sterling Notes) 981 946 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 (920 ) (929 ) Total carrying value of debt 35,541 35,342 Less current portion (2,183 ) (1,152 ) Total noncurrent debt $ 33,358 $ 34,190 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 6.3% and 5.6% , respectively.

Stockholders' equity

Stockholders' equity	3 Months Ended
	Mar. 31, 2018
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): 2018 2017 Shares Dollars Shares Dollars First quarter 56.4 $ 10,787 3.4 $ 555 In January 2018, our Board of Directors authorized an increase of $10.0 billion available under our stock repurchase program. Repurchase activity for the three months ended March 31, 2018, included 52.1 million shares of our common stock acquired under a tender offer at an aggregate cost of $10.0 billion . As of March 31, 2018 , $3.6 billion remained available under our stock repurchase program. In April 2018, our Board of Directors increased the amount authorized under our stock repurchase program by an additional $5.0 billion . Dividends In March 2018, the Board of Directors declared a quarterly cash dividend of $1.32 per share of common stock, which will be paid in June 2018. In December 2017, the Board of Directors declared a quarterly cash dividend of $1.32 per share of common stock, which was paid in March 2018. Accumulated other comprehensive income (loss) The components of AOCI were as follows (in millions): Foreign currency translation Cash flow hedges Available-for-sale securities Other AOCI Balance as of December 31, 2017 $ (529 ) $ (6 ) $ (144 ) $ — $ (679 ) Cumulative effect of change in accounting principle, net of tax — — (9 ) — (9 ) Foreign currency translation adjustments 29 — — — 29 Unrealized gains (losses) — 149 (482 ) — (333 ) Reclassification adjustments to income — (130 ) 134 — 4 Other — — — 2 2 Income taxes — (13 ) 5 — (8 ) Balance as of March 31, 2018 $ (500 ) $ — $ (496 ) $ 2 $ (994 ) See Note 1, Summary of significant accounting policies, for additional information regarding the adoption on January 1, 2018, of the new accounting standard related to the classification and measurement of financial instruments and the related cumulative effect from the change in accounting principle. The reclassifications out of AOCI and into earnings were as follows (in millions): Three months ended Components of AOCI 2018 2017 Condensed Consolidated Statements of Income location Cash flow hedges: Foreign currency contract (losses) gains $ (34 ) $ 57 Product sales Cross-currency swap contract gains 164 74 Interest and other income, net 130 131 Income before income taxes (28 ) (47 ) Provision for income taxes $ 102 $ 84 Net income Available-for-sale securities: Net realized losses $ (134 ) $ (49 ) Interest and other income, net 1 — Provision for income taxes $ (133 ) $ (49 ) Net income

Fair value measurement

Fair value measurement	3 Months Ended
	Mar. 31, 2018
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, 2018, using: Total Assets: Interest-bearing securities: U.S. Treasury securities $ 5,103 $ — $ — $ 5,103 Other government-related debt securities: U.S. — 129 — 129 Foreign and other — 1,674 — 1,674 Corporate debt securities: Financial — 6,053 — 6,053 Industrial — 5,565 — 5,565 Other — 896 — 896 Residential-mortgage-backed securities — 1,699 — 1,699 Other mortgage- and asset-backed securities — 1,267 — 1,267 Money market mutual funds 9,234 — — 9,234 Other short-term interest-bearing securities — 50 — 50 Equity securities 155 — — 155 Derivatives: Foreign currency contracts — 17 — 17 Cross-currency swap contracts — 433 — 433 Total assets $ 14,492 $ 17,783 $ — $ 32,275 Liabilities: Derivatives: Foreign currency contracts $ — $ 259 $ — $ 259 Cross-currency swap contracts — 148 — 148 Interest rate swap contracts — 215 — 215 Contingent consideration obligations in connection with business combinations — — 110 110 Total liabilities $ — $ 622 $ 110 $ 732 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, 2017, using: Total Assets: Interest-bearing securities: U.S. Treasury securities $ 8,242 $ — $ — $ 8,242 Other government-related debt securities: U.S. — 223 — 223 Foreign and other — 2,422 — 2,422 Corporate debt securities: Financial — 10,072 — 10,072 Industrial — 9,670 — 9,670 Other — 1,390 — 1,390 Residential-mortgage-backed securities — 2,168 — 2,168 Other mortgage- and asset-backed securities — 2,297 — 2,297 Money market mutual funds 3,245 — — 3,245 Other short-term interest-bearing securities — 1,440 — 1,440 Equity securities 149 — — 149 Derivatives: Foreign currency contracts — 6 — 6 Cross-currency swap contracts — 270 — 270 Interest rate swap contracts — 10 — 10 Total assets $ 11,636 $ 29,968 $ — $ 41,604 Liabilities: Derivatives: Foreign currency contracts $ — $ 204 $ — $ 204 Cross-currency swap contracts — 220 — 220 Interest rate swap contracts — 61 — 61 Contingent consideration obligations in connection with business combinations — — 69 69 Total liabilities $ — $ 485 $ 69 $ 554 Interest-bearing and equity securities 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 and have 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 BBB+ or equivalent by Standard & Poor’s Financial Services LLC (S&P), and A- or equivalent by Moody’s Investors Service, Inc. (Moody’s) or Fitch Ratings Inc. (Fitch); 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 use 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. The 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 use 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. The inputs include reported trades of and broker-dealer quotes on the same or similar securities; issuer credit spreads; benchmark securities; prepayment or 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. Derivatives All of our foreign currency forward and option derivative contracts have maturities of three years or less, and all are with counterparties that have minimum credit ratings of A- or equivalent by S&P, Moody’s or Fitch. We estimate the fair values of these contracts by taking into consideration valuations obtained from a third-party valuation service that uses 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 Rate (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 13, Derivative instruments. Our cross-currency swap contracts are with counterparties that have minimum credit ratings of A- or equivalent by S&P, Moody’s or Fitch. We estimate the fair values of these contracts by taking into consideration valuations obtained from a third-party valuation service that uses 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 13, Derivative instruments. Our interest rate swap contracts are with counterparties that have minimum credit ratings of A- or equivalent by S&P, Moody’s or Fitch. We estimate the fair values of these contracts by using an income-based industry standard valuation model for which all significant inputs are observable either directly or indirectly. These inputs include LIBOR, swap rates and obligor credit default swap rates. See Note 13, Derivative instruments. Contingent consideration obligations As a result of our business acquisitions, we incurred contingent consideration obligations, as discussed below. The contingent consideration obligations are recorded at their fair values by using probability-adjusted discounted cash flows, and we revalue these obligations each reporting period until the related contingencies have been resolved. The fair value measurements of these obligations are based on significant unobservable inputs related to licensing rights and 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, or that shorten or lengthen the time required to achieve such events, or that increase or decrease estimated annual sales would result in corresponding increases or decreases in the fair values of the 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 2018 2017 Beginning balance $ 69 $ 179 Addition from K-A acquisition 45 — Net changes in valuations (4 ) 5 Ending balance $ 110 $ 184 As a result of our acquisition of BioVex Group, Inc., in 2011, we are obligated to pay its former shareholders additional consideration contingent upon achieving certain sales-related milestones with regard to IMLYGIC ® (talimogene laherparepvec). As a result of our acquisition of K-A in 2018, we are obligated to make single-digit-percentage royalty payments to Kirin contingent upon sales of brodalumab. See Note 3, Business combinations. During the three months ended March 31, 2018 and 2017 , 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 fair values of cash equivalents approximate their carrying values due to the short-term nature of such financial instruments. Borrowings We estimated the fair values of our borrowings by using Level 2 inputs. As of March 31, 2018 and December 31, 2017 , the aggregate fair values of our borrowings were $37.6 billion and $38.6 billion , respectively, and the carrying values were $35.5 billion and $35.3 billion , respectively.

Derivative instruments

Derivative instruments	3 Months Ended
	Mar. 31, 2018
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 such exposures, we use or have used 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 with regard to 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, 2018 and December 31, 2017 , we had open foreign currency forward contracts with notional amounts of $5.1 billion and $4.6 billion , respectively, and open foreign currency option contracts with notional amounts of $60 million and $74 million , respectively. We have designated these foreign currency forward and foreign currency option contracts, which are primarily euro based, as cash flow hedges. 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 such 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, thereby 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. 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 as of March 31, 2018 , were 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 % In connection with the anticipated issuance of long-term fixed-rate debt, we occasionally enter into forward interest rate contracts in order to hedge the variability in cash flows due to changes in the applicable U.S. Treasury rate between the time we enter into these contracts and the time the related debt is issued. Gains and losses on forward interest rate contracts, which are designated as cash flow hedges, are recognized in AOCI i n the Condensed Consolidated Balance Sheets and are amortized into earnings over the lives of the associated debt issuances. Amounts recognized in connection with forward interest rate swaps during the three months ended March 31, 2018, and amounts expected to be recognized during the subsequent 12 months are not material. The effective portions of unrealized gains and losses recognized in AOCI for our derivative instruments designated as cash flow hedges were as follows (in millions): Three months ended Derivatives in cash flow hedging relationships 2018 2017 Foreign currency contracts $ (89 ) $ (47 ) Cross-currency swap contracts 238 64 Total unrealized gains $ 149 $ 17 The locations in the Condensed Consolidated Statements of Income and the effective portions of the gains and losses 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 Condensed Consolidated Statements of Income location 2018 2017 Foreign currency contracts Product sales $ (34 ) $ 57 Cross-currency swap contracts Interest and other income, net 164 74 Total realized gains $ 130 $ 131 No portions of our cash flow hedge contracts are excluded from the assessment of hedge effectiveness. The gains and losses of the ineffective portions of these hedging instruments were not material for the three months ended March 31, 2018 and 2017 . As of March 31, 2018 , the amount expected to be reclassified out of AOCI and into earnings during the next 12 months is $202 million of net losses on our foreign currency and cross-currency swap contracts. Fair value hedges To achieve a desired mix of fixed-rate and floating-rate debt, we entered into interest rate swap contracts that qualified for and were designated as fair value hedges. The terms of these interest rate swap contracts correspond to the related hedged debt and effectively converted fixed-rate coupons to floating-rate LIBOR-based coupons over the lives of the respective notes. As of March 31, 2018 and December 31, 2017 , we had interest rate swap agreements with an aggregate notional amount of $9.45 billion that hedge certain of our long-term debt issuances. The contracts have rates that range from three-month LIBOR plus 0.3% to three-month LIBOR plus 2.0% . For derivative instruments that qualify for and are designated as fair value hedges, we recognize in Interest expense, net, in the Condensed Consolidated Statements of Income, 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. The following table presents such net unrealized gains and losses (in millions): Three months ended Derivatives in fair value hedging relationships 2018 2017 Net unrealized losses recognized for interest rate swap contracts $ (164 ) $ (19 ) Net unrealized gains recognized for related hedged debt $ 164 $ 19 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, 2018 and December 31, 2017 , the total notional amounts of these foreign currency forward contracts were $335 million and $757 million , respectively. The location in the Condensed Consolidated Statements of Income and the amounts of gains 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 Condensed Consolidated Statements of Income location 2018 2017 Foreign currency contracts Interest and other income, net $ 7 $ 1 The fair values of derivatives included in the Condensed Consolidated Balance Sheets were as follows (in millions): Derivative assets Derivative liabilities March 31, 2018 Condensed Consolidated Balance Sheet location Fair value Condensed Consolidated Fair value Derivatives designated as hedging instruments: Foreign currency contracts Other current assets/ Other assets $ 17 Accrued liabilities/ Other noncurrent liabilities $ 259 Cross-currency swap contracts Other current assets/ Other assets 433 Accrued liabilities/ Other noncurrent liabilities 148 Interest rate swap contracts Other current assets/ Other assets — Accrued liabilities/ Other noncurrent liabilities 215 Total derivatives designated as hedging instruments $ 450 $ 622 Derivative assets Derivative liabilities December 31, 2017 Condensed Consolidated Balance Sheet location Fair value Condensed Consolidated Fair value Derivatives designated as hedging instruments: Foreign currency contracts Other current assets/ Other assets $ 6 Accrued liabilities/ Other noncurrent liabilities $ 204 Cross-currency swap contracts Other current assets/ Other assets 270 Accrued liabilities/ Other noncurrent liabilities 220 Interest rate swap contracts Other current assets/ Other assets 10 Accrued liabilities/ Other noncurrent liabilities 61 Total derivatives designated as hedging instruments $ 286 $ 485 Our derivative contracts that were in liability positions as of March 31, 2018 , contain certain credit-risk-related contingent provisions that would be triggered if: (i) we were to undergo a change in control and (ii) our or the surviving entity’s creditworthiness deteriorates, which is generally defined as having either a credit rating that is below investment grade or a materially weaker creditworthiness after the change in control. If these events were to occur, the counterparties would have the right, but not the obligation, to close the contracts under early-termination provisions. In such circumstances, the counterparties could request immediate settlement of these contracts for amounts that approximate the then current fair values of the contracts. In addition, our derivative contracts are not subject to any type of master netting arrangement, and amounts due either to or from a counterparty under the contracts may be offset against other amounts due either 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 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, 2018
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, 2017 , 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 footnote; and in Note 18, Contingencies and commitments, to the consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2017 . 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 involve various aspects of our business and a variety of claims—including but not limited to patent validity and infringement, regulatory standards, and other matters—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 the consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2017, 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 we face 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 the consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2017, have progressed sufficiently through discovery and/or the 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: PCSK9 Antibody Patent Litigation U.S. Patent Litigation — Sanofi/Regeneron The U.S. Court of Appeals for the Federal Circuit (the Federal Circuit Court) denied Amgen’s petition for rehearing en banc and issued a March 2, 2018 mandate, returning the case to the U.S. District Court for the District of Delaware (the Delaware District Court) for a new trial on two of the defendants’ challenges to the validity of our patents (lack of written description and enablement of the claimed inventions) and for further consideration of a permanent injunction. Trial has been set to begin on February 19, 2019. Sensipar ® (cinacalcet) Litigation Sensipar ® Abbreviated New Drug Application (ANDA) Patent Litigation During February 2018, the separate lawsuits filed by Amgen in December 2017 for infringement of our U.S. Patent No. 9,375,405 (the ’405 Patent) against (1) Watson Laboratories, Inc. and Actavis Pharma, Inc., (2) Teva Pharmaceuticals, USA, Inc., and (3) Barr Laboratories, Inc. were each dismissed by agreement between Amgen and the respective defendants. On March 5, 2018, the Delaware District Court commenced trial on the infringement claims and defenses in the Amgen Inc. v. Aurobindo Pharma Ltd. et al. consolidated lawsuit. The Delaware District Court has scheduled post-trial briefing on this portion of the trial for May 2018, but has not yet scheduled trial on defendants’ challenges to the validity of the ’405 Patent. During March and April 2018, the Delaware District Court signed consent judgments filed by Amgen and each of (1) Cipla Limited and Cipla USA, Inc., (2) Strides Pharma Global Pte. Limited and Strides Pharma, Inc., (3) Aurobindo Pharma Ltd. and Aurobindo Pharma USA, Inc., and (4) Macleods Pharmaceuticals Ltd. and Macleods Pharma USA, Inc. (defendants in the second consolidated lawsuit, Amgen Inc. v. Alkem at al. ). In each of these four consent judgments, the parties stipulated to an entry of judgment of infringement and validity of the ’405 Patent and an injunction prohibiting the manufacture, use, sale, offer to sell, importation of, or distribution into the United States of the applicable defendants’ cinacalcet product during the term of the ’405 Patent unless specifically authorized pursuant to the confidential settlement agreement. In March and April 2018, the Delaware District Court also entered orders dismissing the following defendants on stipulations between Amgen and each of (1) Dr. Reddy’s Laboratories, Ltd. and Dr. Reddy’s Laboratories, Inc., (2) Mylan Pharmaceuticals Inc. and Mylan Inc., and (3) Lupin Ltd. and Lupin Pharmaceuticals, Inc. (also defendants in the second consolidated lawsuit) subject to terms of confidential settlement agreements. Sensipar ® Pediatric Exclusivity Litigation On February 17, 2018, the U.S. District Court for the District of Columbia (the D.C. District Court) entered a final judgment for the U.S. Food and Drug Administration (FDA). On February 19, 2018, Amgen filed its notice of appeal of the final judgment. Amgen also filed with the D.C. District Court an emergency motion for injunctive relief pending appeal, which was denied on February 22. On February 23, 2018, Amgen filed an emergency motion for injunction pending appeal in the U.S. Court of Appeals for the District of Columbia Circuit (the D.C. Circuit Court). On March 2, 2018, the D.C. Circuit Court denied the motion for an injunction pending appeal. Briefing on Amgen’s appeal has been completed and oral arguments are scheduled for May 17, 2018. KYPROLIS ® (carfilzomib) ANDA Patent Litigation As previously disclosed, the Delaware District Court consolidated for purposes of discovery a number of patent infringement lawsuits filed by our subsidiary Onyx Therapeutics, Inc. (Onyx Therapeutics) into Onyx Therapeutics, Inc. v. Cipla Limited, et al. On February 7, 2018, the Delaware District Court also consolidated for purposes of discovery the lawsuit against Aurobindo Pharma USA, Inc. into Onyx Therapeutics, Inc. v. Cipla Limited, et al. On February 14, 2018, by joint stipulation of the parties, Teva Pharmaceuticals USA Inc. was dismissed from the applicable lawsuit filed in the Delaware District Court in April 2017. On March 20, 2018, the Delaware District Court entered a stipulation between the parties providing Aurobindo a covenant not to sue on our U.S. Patent Nos. 7,232,818 (the ’818 Patent); 7,491,704 (the ’704 Patent); 8,129,346 (the ’346 Patent); and 8,207,297 (the ’297 Patent). On February 15, 2018, Onyx Therapeutics filed a lawsuit in the Delaware District Court against Breckenridge Pharmaceutical, Inc. (Breckenridge) for patent infringement, and subsequently amended the complaint on March 9, 2018 to assert infringement of U.S. Patent Nos. 7,417,042 (the ’042 Patent); 7,737,112 (the ’112 Patent); 8,207,125 (the ’125 Patent); 8,207,126 (the ’126 Patent); and 8,207,127 (the ’127 Patent). On April 11, 2018, Breckenridge filed a response to the complaint alleging invalidity and, in certain instances, non-infringement of the patents. On April 20, 2018, Onyx Therapeutics filed a lawsuit in the Delaware District Court against Cipla Limited and Cipla USA, Inc. for patent infringement of the ’042, ’112, ’125, ’126 and ’127 Patents. In each new lawsuit, Onyx Therapeutics seeks an order of the Delaware District Court making any FDA approval of the respective defendant’s Abbreviated New Drug Application (ANDA) effective no earlier than the expiration of the applicable patents. As previously disclosed, Onyx Therapeutics filed lawsuits in the Delaware District Court against Dr. Reddy’s Laboratories, Ltd. and Dr. Reddy’s Laboratories, Inc. (collectively, Dr. Reddy’s), against Apotex Inc. and Apotex Corp. (collectively, Apotex), and against Sagent Pharmaceuticals, Inc. (Sagent) for infringement of a number of our patents. Each of these defendants responded by filing defenses of invalidity and, in certain instances, non-infringement of the patents. During April 2018, the Delaware District Court entered orders on stipulations between Onyx Therapeutics and each of Apotex, Dr. Reddy’s and Sagent, respectively, that each defendant infringes the ’042, ’112, ’125, ’126, and ’127 Patents, and that Onyx Therapeutics will not assert patent infringement of the ’818, ’704, ’346, and ’297 Patents against certain of the respective defendants’ ANDA applications and products. NEUPOGEN ® (filgrastim)/ Neulasta ® (pegfilgrastim) Litigation Adello NEUPOGEN ® Patent Litigation On March 8, 2018, Amgen Inc. and Amgen Manufacturing Ltd., (collectively, Amgen), filed a lawsuit in the U.S. District Court for the District of New Jersey (the New Jersey District Court) against Adello Biologics, LLC (Adello). This lawsuit stems from Adello’s submission of an application for FDA licensure of a filgrastim product as biosimilar to Amgen’s NEUPOGEN ® . Amgen has asserted infringement of 17 our patents. Amgen seeks an injunction to prohibit Adello from commercializing its biosimilar filgrastim product in the United States prior to the expiry of these patents. Apotex NEUPOGEN ® /Neulasta ® Patent Litigation As previously disclosed, on February 17, 2017, the Patent Trial and Appeal Board (PTAB) of the U.S. Patent and Trademark Office granted Apotex’s petition to institute an inter partes review (IPR) of our U.S. Patent No. 8,952,138 (the ’138 Patent), challenging claims of the ’138 Patent as unpatentable. On February 15, 2018, the PTAB issued a final decision on the IPR of the ’138 Patent holding all but one claim of the ’138 Patent as unpatentable. On March 16, 2018, Apotex filed a request for rehearing on the PTAB’s finding that this one claim is patentable. Coherus Neulasta ® Patent Litigation On April 18, 2018, the Delaware District Court entered final judgment dismissing Amgen’s complaint for infringement of our patent, having previously granted Coherus BioSciences, Inc.’s (Coherus) motion to dismiss. Mylan Neulasta ® Patent Litigation On April 6, 2018, Mylan Inc., Mylan Pharmaceuticals Inc., Mylan GmbH and Mylan N.V. filed a motion for judgment on the pleadings of non-infringement of U.S. Patent No. 8,273,707. ENBREL (etanercept) Litigation Sandoz ENBREL Patent Litigation The New Jersey District Court has rescheduled trial to start on September 11, 2018. Coherus ENBREL Patent Challenge On March 9, 2018, the PTAB denied Coherus’ petitions to institute IPR trial proceedings on U.S. Patent No. 8,063,182 and U.S. Patent No. 8,163,522, which relate to ENBREL and are exclusively licensed to our subsidiary Immunex Corporation by F. Hoffmann-La Roche Ltd. On April 9, 2018, Coherus filed requests for rehearing on these two denied petitions. MVASI ™ (bevacizumab-awwb) Patent Litigation On April 17, 2018, the Delaware District Court granted Amgen’s motion to dismiss certain claims by Genentech Inc. and City of Hope that Amgen had not complied with the Biologics Price Competition and Innovation Act. Trial is scheduled to start June 1, 2020.

Summary of significant accoun21

Summary of significant accounting policies (Policies)	3 Months Ended
	Mar. 31, 2018
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, 2018 and 2017 , 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, 2017 .
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 $7.7 billion and $7.6 billion as of March 31, 2018 and December 31, 2017 , respectively.
Recent accounting pronouncements	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 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 require an entity to recognize revenue when control of promised goods or services is transferred to the customer at an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. We adopted this new standard as of January 1, 2018, by using the modified-retrospective method. See Note 4, Revenues. In January 2016, the FASB issued a new accounting standard that amends the accounting and disclosures of financial instruments, including a provision requiring that equity investments (except for investments accounted for under the equity method of accounting) be measured at fair value, with changes in fair value recognized in current earnings. With the exception of equity investments that were previously accounted for at cost, a modified-retrospective approach was used to reflect the cumulative-effect of adoption as an adjustment to retained earnings as of the beginning of the fiscal year. The new standard will be applied prospectively to investments that were previously accounted for at cost. Upon adoption, on January 1, 2018, we recorded an immaterial adjustment to Accumulated deficit from Accumulated other comprehensive income (loss) (AOCI), which represented the net unrealized gain on all equity investments with a readily determinable fair value as of December 31, 2017. The impact that this new standard has on our Condensed Consolidated Statements of Income after adoption will depend on the changes in fair values of equity securities in our portfolio in the future. See Note 7, Investments. In October 2016, the FASB issued a new accounting standard that amends the income tax accounting guidance for intra-entity transfers of assets other than inventory. The new standard requires that entities recognize the income tax consequences of an intercompany transfer of an asset, other than inventory, in the period the transfer occurs. The current exception to defer the recognition of any tax impact on intercompany transfers of inventory until the inventory is sold to a third party remains unaffected. We adopted this standard as of January 1, 2018, and will apply it prospectively to any transaction occurring on or after the adoption date. The adoption of this standard did not have a material impact on our condensed consolidated financial statements, however the impact on our condensed consolidated financial statements in future periods will depend on the facts and circumstances of future transactions. In January 2017, the FASB issued a new accounting standard that changes the definition of a business to assist entities with the evaluation of when a set of assets acquired or disposed of should be considered a business. The new standard requires that an entity evaluate whether substantially all of 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 of assets would not be considered a business. The new standard also requires that a business include at least one substantive process and narrows the definition of outputs. We adopted this standard as of January 1, 2018 and will apply it prospectively. Adoption of this new standard may result in more transactions being accounted for as asset acquisitions versus business combinations; however, the impact on our condensed consolidated financial statements in future periods will depend on the facts and circumstances of future transactions. 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 do not expect that this standard will have a material impact on our Condensed Consolidated Statements of Income, but we do expect that upon adoption, it will have a material impact on our assets and liabilities on our Condensed Consolidated Balance Sheets. The primary effect of adoption will be the requirement to record right-of-use assets and corresponding lease obligations for current operating leases. In addition, the standard will require that we update the systems, processes and controls we use to track, record and account for our lease portfolio. We have selected a lease accounting information system and engaged third-party consultants to provide system implementation services. System readiness, including the implementation and functionality of software procured from third-party providers, is essential to enable preparation of the financial information required for this standard. 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 as an allowance through net income 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, but may be adopted earlier, beginning on January 1, 2019. With certain exceptions, adjustments are to be applied by using a modified-retrospective approach by reflecting adjustments through a cumulative-effect impact on retained earnings as of the beginning of the fiscal year of adoption. We are currently evaluating the impact that this new standard will have on our condensed consolidated financial statements. In March 2018, the FASB issued a new accounting standard to incorporate Securities and Exchange Commission (SEC) Staff Accounting Bulletin No. 118 (SAB 118), which addresses the accounting implications of the major tax reform legislation, Public Law No. 115-97, commonly referred to as the Tax Cuts and Jobs Act (the 2017 Tax Act), enacted on December 22, 2017. SAB 118 allows a company to record provisional amounts during a measurement period not to extend beyond one year of the enactment date and was effective upon issuance. We continue to analyze the 2017 Tax Act, and in certain areas, have made reasonable estimates of the effects on our condensed consolidated financial statements and tax disclosures. See Note 5, Income taxes.

Business combinations (Tables)

Business combinations (Tables)	3 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
Aggregate acquisition date consideration to acquire an entity	The aggregate share acquisition date consideration to acquire the remaining 50% ownership in K-A and the fair value of Amgen’s preacquisition investment consisted of the following (in millions): Amount Total cash paid to Kirin $ 780 Fair value of contingent consideration obligation 45 Loss on settlement of preexisting relationship (168 ) Total consideration transferred to acquire K-A 657 Fair value of Amgen’s investment in K-A 825 Total acquisition date fair value $ 1,482

Revenues (Tables)

Revenues (Tables)	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Disaggregation of revenue by product and by geographic area	Revenues were as follows (in millions): Three months ended March 31, 2018 2017 US ROW Total US ROW Total Neulasta ® $ 1,009 $ 146 $ 1,155 $ 1,048 $ 162 $ 1,210 Enbrel ® 1,050 55 1,105 1,118 63 1,181 Sensipar ® / Mimpara ® 409 88 497 337 84 421 Prolia ® 320 174 494 279 146 425 Aranesp ® 225 229 454 278 233 511 XGEVA ® 332 113 445 298 104 402 EPOGEN ® 244 — 244 270 — 270 Other products 558 391 949 467 312 779 Total product sales 1 $ 4,147 $ 1,196 $ 5,343 $ 4,095 $ 1,104 $ 5,199 Other revenues 211 265 Total revenues 2 $ 5,554 $ 5,464 (1) Total product sales includes $34 million related to hedging losses and $57 million related to hedging gains for the three months ended March 31, 2018 and 2017, respectively. (2) Prior-period amounts are not adjusted under the modified-retrospective method of adoption.

Earnings per share (Tables)

Earnings per share (Tables)	3 Months Ended
	Mar. 31, 2018
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 2018 2017 Income (Numerator): Net income for basic and diluted EPS $ 2,311 $ 2,071 Shares (Denominator): Weighted-average shares for basic EPS 707 737 Effect of dilutive securities 4 4 Weighted-average shares for diluted EPS 711 741 Basic EPS $ 3.27 $ 2.81 Diluted EPS $ 3.25 $ 2.79

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2018
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 fair values of available-for-sale investments by type of security were as follows (in millions): Type of security as of March 31, 2018 Amortized cost Gross unrealized gains Gross unrealized losses Fair value U.S. Treasury securities $ 5,207 $ — $ (104 ) $ 5,103 Other government-related debt securities: U.S. 132 — (3 ) 129 Foreign and other 1,714 3 (43 ) 1,674 Corporate debt securities: Financial 6,189 1 (137 ) 6,053 Industrial 5,687 6 (128 ) 5,565 Other 916 1 (21 ) 896 Residential-mortgage-backed securities 1,745 — (46 ) 1,699 Other mortgage- and asset-backed securities 1,293 — (26 ) 1,267 Money market mutual funds 9,234 — — 9,234 Other short-term interest-bearing securities 50 — — 50 Total available-for-sale investments $ 32,167 $ 11 $ (508 ) $ 31,670 Type of security as of December 31, 2017 Amortized cost Gross unrealized gains Gross unrealized losses Fair value U.S. Treasury securities $ 8,313 $ 1 $ (72 ) $ 8,242 Other government-related debt securities: U.S. 225 — (2 ) 223 Foreign and other 2,415 18 (11 ) 2,422 Corporate debt securities: Financial 10,089 17 (34 ) 10,072 Industrial 9,688 34 (52 ) 9,670 Other 1,393 3 (6 ) 1,390 Residential-mortgage-backed securities 2,198 — (30 ) 2,168 Other mortgage- and asset-backed securities 2,312 — (15 ) 2,297 Money market mutual funds 3,245 — — 3,245 Other short-term interest-bearing securities 1,440 — — 1,440 Total interest-bearing securities 41,318 73 (222 ) 41,169 Equity securities 135 14 — 149 Total available-for-sale investments $ 41,453 $ 87 $ (222 ) $ 41,318
Fair values of available-for-sale investments by classification in the Consolidated Balance Sheets	The fair values of available-for-sale investments by location in the Condensed Consolidated Balance Sheets were as follows (in millions): Condensed Consolidated Balance Sheets location March 31, December 31, Cash and cash equivalents $ 9,239 $ 3,291 Marketable securities 22,431 37,878 Other assets — 149 Total available-for-sale investments $ 31,670 $ 41,318
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 $ 9,403 $ 6,733 Maturing after one year through three years 6,579 12,820 Maturing after three years through five years 10,934 13,836 Maturing after five years through ten years 1,788 3,263 Maturing after ten years — 52 Mortgage- and asset-backed securities 2,966 4,465 Total interest-bearing securities $ 31,670 $ 41,169
Available-for-sale securities, continuous unrealized loss position, fair value	he fair values and gross unrealized losses of available-for-sale investments in an unrealized loss position aggregated by type and length of time that the securities have been in a continuous loss position were as follows (in millions): Less than 12 months 12 months or more Type of security as of March 31, 2018 Fair value Unrealized losses Fair value Unrealized losses U.S. Treasury securities $ 5,023 $ (103 ) $ 53 $ (1 ) Other government-related debt securities: U.S. 103 (2 ) 26 (1 ) Foreign and other 1,367 (39 ) 88 (4 ) Corporate debt securities: Financial 5,648 (128 ) 325 (9 ) Industrial 4,702 (117 ) 397 (11 ) Other 727 (18 ) 93 (3 ) Residential-mortgage-backed securities 1,464 (39 ) 226 (7 ) Other mortgage- and asset-backed securities 1,105 (22 ) 162 (4 ) Total $ 20,139 $ (468 ) $ 1,370 $ (40 ) Less than 12 months 12 months or more Type of security as of December 31, 2017 Fair value Unrealized losses Fair value Unrealized losses U.S. Treasury securities $ 7,728 $ (70 ) $ 195 $ (2 ) Other government-related debt securities: U.S. 188 (1 ) 34 (1 ) Foreign and other 1,163 (9 ) 115 (2 ) Corporate debt securities: Financial 5,928 (28 ) 462 (6 ) Industrial 5,760 (43 ) 612 (9 ) Other 868 (4 ) 117 (2 ) Residential-mortgage-backed securities 1,838 (24 ) 276 (6 ) Other mortgage- and asset-backed securities 1,777 (12 ) 250 (3 ) Total $ 25,250 $ (191 ) $ 2,061 $ (31 )

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2018
Inventory Disclosure [Abstract]
Inventories	Inventories consisted of the following (in millions): March 31, December 31, Raw materials $ 275 $ 232 Work in process 1,627 1,668 Finished goods 1,050 934 Total inventories $ 2,952 $ 2,834

Goodwill and other intangible27

Goodwill and other intangible assets (Tables)	3 Months Ended
	Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill	Changes in the carrying amount of goodwill were as follows (in millions): Three months ended Beginning balance $ 14,761 Addition from K-A acquisition 6 Currency translation adjustment 4 Ending balance $ 14,771
Schedule of identifiable intangible assets	Other intangible assets consisted of the following (in millions): March 31, 2018 December 31, 2017 Gross carrying amount Accumulated amortization Intangible assets, net Gross carrying amount Accumulated amortization Intangible assets, net Finite-lived intangible assets: Developed-product-technology rights $ 12,609 $ (6,974 ) $ 5,635 $ 12,589 $ (6,796 ) $ 5,793 Licensing rights 3,745 (1,699 ) 2,046 3,275 (1,601 ) 1,674 Marketing-related rights 1,316 (948 ) 368 1,319 (920 ) 399 R&D technology rights 1,177 (834 ) 343 1,161 (804 ) 357 Total finite-lived intangible assets 18,847 (10,455 ) 8,392 18,344 (10,121 ) 8,223 Indefinite-lived intangible assets: In-process research and development 387 — 387 386 — 386 Total other intangible assets $ 19,234 $ (10,455 ) $ 8,779 $ 18,730 $ (10,121 ) $ 8,609

Financing arrangements (Tables)

Financing arrangements (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Schedule of Debt Instruments	Our borrowings consisted of the following (in millions): March 31, December 31, 6.15% notes due 2018 (6.15% 2018 Notes) $ 500 $ 500 4.375% €550 million notes due 2018 (4.375% 2018 euro Notes) 684 653 5.70% notes due 2019 (5.70% 2019 Notes) 1,000 1,000 1.90% notes due 2019 (1.90% 2019 Notes) 700 700 Floating Rate Notes due 2019 550 550 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) 832 810 4.50% notes due 2020 (4.50% 2020 Notes) 300 300 2.125% notes due 2020 (2.125% 2020 Notes) 750 750 Floating Rate Notes due 2020 300 300 2.20% notes due 2020 (2.20% 2020 Notes) 700 700 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) 1,541 1,501 2.70% notes due 2022 (2.70% 2022 Notes) 500 500 2.65% notes due 2022 (2.65% 2022 Notes) 1,500 1,500 3.625% notes due 2022 (3.625% 2022 Notes) 750 750 0.41% CHF700 million bonds due 2023 (0.41% 2023 Swiss franc Bonds) 734 719 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) 924 901 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) 666 642 3.20% notes due 2027 (3.20% 2027 Notes) 1,000 1,000 4.00% £700 million notes due 2029 (4.00% 2029 pound sterling Notes) 981 946 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 (920 ) (929 ) Total carrying value of debt 35,541 35,342 Less current portion (2,183 ) (1,152 ) Total noncurrent debt $ 33,358 $ 34,190

Stockholders' equity (Tables)

Stockholders' equity (Tables)	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Summary of activity under our stock repurchase program	Activity under our stock repurchase program, on a trade date basis, was as follows (in millions): 2018 2017 Shares Dollars Shares Dollars First quarter 56.4 $ 10,787 3.4 $ 555
Components of accumulated other comprehensive income	The components of AOCI were as follows (in millions): Foreign currency translation Cash flow hedges Available-for-sale securities Other AOCI Balance as of December 31, 2017 $ (529 ) $ (6 ) $ (144 ) $ — $ (679 ) Cumulative effect of change in accounting principle, net of tax — — (9 ) — (9 ) Foreign currency translation adjustments 29 — — — 29 Unrealized gains (losses) — 149 (482 ) — (333 ) Reclassification adjustments to income — (130 ) 134 — 4 Other — — — 2 2 Income taxes — (13 ) 5 — (8 ) Balance as of March 31, 2018 $ (500 ) $ — $ (496 ) $ 2 $ (994 )
Reclassifications out of accumulated other comprehensive income	The reclassifications out of AOCI and into earnings were as follows (in millions): Three months ended Components of AOCI 2018 2017 Condensed Consolidated Statements of Income location Cash flow hedges: Foreign currency contract (losses) gains $ (34 ) $ 57 Product sales Cross-currency swap contract gains 164 74 Interest and other income, net 130 131 Income before income taxes (28 ) (47 ) Provision for income taxes $ 102 $ 84 Net income Available-for-sale securities: Net realized losses $ (134 ) $ (49 ) Interest and other income, net 1 — Provision for income taxes $ (133 ) $ (49 ) Net income

Fair value measurement (Tables)

Fair value measurement (Tables)	3 Months Ended
	Mar. 31, 2018
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, 2018, using: Total Assets: Interest-bearing securities: U.S. Treasury securities $ 5,103 $ — $ — $ 5,103 Other government-related debt securities: U.S. — 129 — 129 Foreign and other — 1,674 — 1,674 Corporate debt securities: Financial — 6,053 — 6,053 Industrial — 5,565 — 5,565 Other — 896 — 896 Residential-mortgage-backed securities — 1,699 — 1,699 Other mortgage- and asset-backed securities — 1,267 — 1,267 Money market mutual funds 9,234 — — 9,234 Other short-term interest-bearing securities — 50 — 50 Equity securities 155 — — 155 Derivatives: Foreign currency contracts — 17 — 17 Cross-currency swap contracts — 433 — 433 Total assets $ 14,492 $ 17,783 $ — $ 32,275 Liabilities: Derivatives: Foreign currency contracts $ — $ 259 $ — $ 259 Cross-currency swap contracts — 148 — 148 Interest rate swap contracts — 215 — 215 Contingent consideration obligations in connection with business combinations — — 110 110 Total liabilities $ — $ 622 $ 110 $ 732 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, 2017, using: Total Assets: Interest-bearing securities: U.S. Treasury securities $ 8,242 $ — $ — $ 8,242 Other government-related debt securities: U.S. — 223 — 223 Foreign and other — 2,422 — 2,422 Corporate debt securities: Financial — 10,072 — 10,072 Industrial — 9,670 — 9,670 Other — 1,390 — 1,390 Residential-mortgage-backed securities — 2,168 — 2,168 Other mortgage- and asset-backed securities — 2,297 — 2,297 Money market mutual funds 3,245 — — 3,245 Other short-term interest-bearing securities — 1,440 — 1,440 Equity securities 149 — — 149 Derivatives: Foreign currency contracts — 6 — 6 Cross-currency swap contracts — 270 — 270 Interest rate swap contracts — 10 — 10 Total assets $ 11,636 $ 29,968 $ — $ 41,604 Liabilities: Derivatives: Foreign currency contracts $ — $ 204 $ — $ 204 Cross-currency swap contracts — 220 — 220 Interest rate swap contracts — 61 — 61 Contingent consideration obligations in connection with business combinations — — 69 69 Total liabilities $ — $ 485 $ 69 $ 554
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 2018 2017 Beginning balance $ 69 $ 179 Addition from K-A acquisition 45 — Net changes in valuations (4 ) 5 Ending balance $ 110 $ 184

Derivative instruments (Tables)

Derivative instruments (Tables)	3 Months Ended
	Mar. 31, 2018
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 as of March 31, 2018 , were 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 unrealized gains and losses recognized in AOCI for our derivative instruments designated as cash flow hedges were as follows (in millions): Three months ended Derivatives in cash flow hedging relationships 2018 2017 Foreign currency contracts $ (89 ) $ (47 ) Cross-currency swap contracts 238 64 Total unrealized gains $ 149 $ 17
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 gains and losses 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 Condensed Consolidated Statements of Income location 2018 2017 Foreign currency contracts Product sales $ (34 ) $ 57 Cross-currency swap contracts Interest and other income, net 164 74 Total realized gains $ 130 $ 131
Derivatives in fair value hedging relationships	The following table presents such net unrealized gains and losses (in millions): Three months ended Derivatives in fair value hedging relationships 2018 2017 Net unrealized losses recognized for interest rate swap contracts $ (164 ) $ (19 ) Net unrealized gains recognized for related hedged debt $ 164 $ 19
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 gains 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 Condensed Consolidated Statements of Income location 2018 2017 Foreign currency contracts Interest and other income, net $ 7 $ 1
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, 2018 Condensed Consolidated Balance Sheet location Fair value Condensed Consolidated Fair value Derivatives designated as hedging instruments: Foreign currency contracts Other current assets/ Other assets $ 17 Accrued liabilities/ Other noncurrent liabilities $ 259 Cross-currency swap contracts Other current assets/ Other assets 433 Accrued liabilities/ Other noncurrent liabilities 148 Interest rate swap contracts Other current assets/ Other assets — Accrued liabilities/ Other noncurrent liabilities 215 Total derivatives designated as hedging instruments $ 450 $ 622 Derivative assets Derivative liabilities December 31, 2017 Condensed Consolidated Balance Sheet location Fair value Condensed Consolidated Fair value Derivatives designated as hedging instruments: Foreign currency contracts Other current assets/ Other assets $ 6 Accrued liabilities/ Other noncurrent liabilities $ 204 Cross-currency swap contracts Other current assets/ Other assets 270 Accrued liabilities/ Other noncurrent liabilities 220 Interest rate swap contracts Other current assets/ Other assets 10 Accrued liabilities/ Other noncurrent liabilities 61 Total derivatives designated as hedging instruments $ 286 $ 485

Summary of significant accoun32

Summary of significant accounting policies (Details) $ in Billions	3 Months Ended
	Mar. 31, 2018USD ($)segment	Dec. 31, 2017USD ($)
Accounting Policies [Abstract]
Number of operating segments | segment	1
Accumulated depreciation and amortization on property, plant and equipment | $	$ 7.7	$ 7.6

Restructuring (Details)

Restructuring (Details) $ in Millions	Mar. 31, 2018USD ($)
Separation and Other Headcount-related Costs [Member]
Restructuring Cost and Reserve [Line Items]
Total costs incurred to date	$ 558
Asset-related Charges [Member]
Restructuring Cost and Reserve [Line Items]
Total costs incurred to date	243
Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Expected pre-tax accounting charges	825
Separation and other headcount-related costs	560
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	600
Accelerated depreciation and asset impairment and other related charges	$ 300

Business combinations (Details

Business combinations (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Dec. 31, 1984
Business Acquisition [Line Items]
Net gain on remeasurement	$ 80
Goodwill	14,771	$ 14,761
Corporate Joint Venture [Member]
Business Acquisition [Line Items]
Cash paid	$ 780
Kirin-Amgen, Inc. (K-A) [Member]
Business Acquisition [Line Items]
Percentage of voting interests acquired	50.00%
Ownership percentage		50.00%	50.00%
Carrying value of equity method investment		$ 570
Kirin-Amgen, Inc. (K-A) [Member] | Kirin [Member]
Business Acquisition [Line Items]
Ownership percentage			50.00%
Kirin-Amgen, Inc. (K-A) [Member]
Business Acquisition [Line Items]
Percentage of voting interests acquired	50.00%
Ownership interest in acquiree prior to acquisition (as a percent)	50.00%
Cash paid	$ 780
Estimated fair values of contingent consideration obligations	45
Fair value of assets acquired, cash	977
Fair value of liabilities assumed, deferred tax liabilities	102
Fair value of assets acquired and liabilities assumed, net other assets and liabilities	131
Goodwill	6
Kirin-Amgen, Inc. (K-A) [Member] | Licensing Rights [Member]
Business Acquisition [Line Items]
Fair value of assets acquired, licensing rights	$ 470
Weighted average period of amortization	4 years

Business combinations (Aggregat

Business combinations (Aggregate Consideration Paid) (Details) - Kirin-Amgen, Inc. (K-A) [Member] $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Business Acquisition [Line Items]
Total cash paid to Kirin	$ 780
Fair value of contingent consideration obligation	45
Loss on settlement of preexisting relationship	(168)
Total consideration transferred to acquire K-A	657
Fair value of Amgen’s investment in K-A	825
Total acquisition date fair value	$ 1,482

Revenues (Details Textual)

Revenues (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Revenue from Contract with Customer [Abstract]
Prior period sales due to change in estimates as a percentage of aggregate sales deductions (less than)	1.00%
Sales return provisions as a percentage of gross product sales (less than)	1.00%
New Accounting Pronouncement, Early Adoption [Line Items]
Retained earnings	$ (14,387)	$ (5,072)
Minimum [Member]
New Accounting Pronouncement, Early Adoption [Line Items]
Revenue payment term	30 days
Maximum [Member]
New Accounting Pronouncement, Early Adoption [Line Items]
Revenue payment term	120 days
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Accounting Standards Update 2014-09 [Member]
New Accounting Pronouncement, Early Adoption [Line Items]
Retained earnings		$ 25

Revenues (Revenues by Product a

Revenues (Revenues by Product and by Geographic Area) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)segment	Mar. 31, 2017USD ($)
Revenue from External Customer [Line Items]
Number of operating segments | segment	1
Total product sales	$ 5,343	$ 5,199
Other revenues	211	265
Total revenues	5,554	5,464
Hedging gains	34	57
US [Member]
Revenue from External Customer [Line Items]
Total product sales	4,147	4,095
ROW [Member]
Revenue from External Customer [Line Items]
Total product sales	1,196	1,104
Neulasta® [Member]
Revenue from External Customer [Line Items]
Total product sales	1,155	1,210
Neulasta® [Member] | US [Member]
Revenue from External Customer [Line Items]
Total product sales	1,009	1,048
Neulasta® [Member] | ROW [Member]
Revenue from External Customer [Line Items]
Total product sales	146	162
Enbrel [Member]
Revenue from External Customer [Line Items]
Total product sales	1,105	1,181
Enbrel [Member] | US [Member]
Revenue from External Customer [Line Items]
Total product sales	1,050	1,118
Enbrel [Member] | ROW [Member]
Revenue from External Customer [Line Items]
Total product sales	55	63
Sensipar® / Mimpara® [Member]
Revenue from External Customer [Line Items]
Total product sales	497	421
Sensipar® / Mimpara® [Member] | US [Member]
Revenue from External Customer [Line Items]
Total product sales	409	337
Sensipar® / Mimpara® [Member] | ROW [Member]
Revenue from External Customer [Line Items]
Total product sales	88	84
Prolia® [Member]
Revenue from External Customer [Line Items]
Total product sales	494	425
Prolia® [Member] | US [Member]
Revenue from External Customer [Line Items]
Total product sales	320	279
Prolia® [Member] | ROW [Member]
Revenue from External Customer [Line Items]
Total product sales	174	146
Aranesp® [Member]
Revenue from External Customer [Line Items]
Total product sales	454	511
Aranesp® [Member] | US [Member]
Revenue from External Customer [Line Items]
Total product sales	225	278
Aranesp® [Member] | ROW [Member]
Revenue from External Customer [Line Items]
Total product sales	229	233
XGEVA® [Member]
Revenue from External Customer [Line Items]
Total product sales	445	402
XGEVA® [Member] | US [Member]
Revenue from External Customer [Line Items]
Total product sales	332	298
XGEVA® [Member] | ROW [Member]
Revenue from External Customer [Line Items]
Total product sales	113	104
EPOGEN® [Member]
Revenue from External Customer [Line Items]
Total product sales	244	270
EPOGEN® [Member] | US [Member]
Revenue from External Customer [Line Items]
Total product sales	244	270
EPOGEN® [Member] | ROW [Member]
Revenue from External Customer [Line Items]
Total product sales	0	0
Other products [Member]
Revenue from External Customer [Line Items]
Total product sales	949	779
Other products [Member] | US [Member]
Revenue from External Customer [Line Items]
Total product sales	558	467
Other products [Member] | ROW [Member]
Revenue from External Customer [Line Items]
Total product sales	$ 391	$ 312

Income taxes (Details)

Income taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Effective income tax rate	11.80%	15.80%
Puerto Rico Excise Tax Rate [Line Items]
Increase in unrecognized tax benefits resulting from tax positions taken during the current period	$ 75
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, 2018	Mar. 31, 2017
Income (Numerator):
Net income for basic and diluted EPS	$ 2,311	$ 2,071
Shares (Denominator):
Weighted-average shares for basic EPS	707	737
Effect of dilutive securities	4	4
Weighted-average shares for diluted EPS	711	741
Basic EPS (in usd per share)	$ 3.27	$ 2.81
Diluted EPS (in usd per share)	$ 3.25	$ 2.79

Investments (Details)

Investments (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Amortized cost, gross unrealized gains, gross unrealized losses and estimated fair values of available-for-sale investments by type of security
Amortized cost	$ 32,167	$ 41,453
Gross unrealized gains	11	87
Gross unrealized losses	(508)	(222)
Fair value	31,670	41,318
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	5,207	8,313
Gross unrealized gains	0	1
Gross unrealized losses	(104)	(72)
Fair value	5,103	8,242
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	132	225
Gross unrealized gains	0	0
Gross unrealized losses	(3)	(2)
Fair value	129	223
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	1,714	2,415
Gross unrealized gains	3	18
Gross unrealized losses	(43)	(11)
Fair value	1,674	2,422
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	6,189	10,089
Gross unrealized gains	1	17
Gross unrealized losses	(137)	(34)
Fair value	6,053	10,072
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	5,687	9,688
Gross unrealized gains	6	34
Gross unrealized losses	(128)	(52)
Fair value	5,565	9,670
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	916	1,393
Gross unrealized gains	1	3
Gross unrealized losses	(21)	(6)
Fair value	896	1,390
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	1,745	2,198
Gross unrealized gains	0	0
Gross unrealized losses	(46)	(30)
Fair value	1,699	2,168
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	1,293	2,312
Gross unrealized gains	0	0
Gross unrealized losses	(26)	(15)
Fair value	1,267	2,297
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	9,234	3,245
Gross unrealized gains	0	0
Gross unrealized losses	0	0
Fair value	9,234	3,245
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	50	1,440
Gross unrealized gains	0	0
Gross unrealized losses	0	0
Fair value	50	1,440
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		41,318
Gross unrealized gains		73
Gross unrealized losses		(222)
Fair value	$ 31,670	41,169
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		135
Gross unrealized gains		14
Gross unrealized losses		0
Fair value		$ 149

Investments (Fair Values by Cla

Investments (Fair Values by Classification) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Fair values of available-for-sale investments by classification in the Consolidated Balance Sheets
Cash and cash equivalents	$ 9,741	$ 3,800	$ 3,358	$ 3,241
Marketable securities	22,431	37,878
Other assets	1,982	2,119
Total available-for-sale investments	31,670	41,318
Available-for-sale investments [Member]
Fair values of available-for-sale investments by classification in the Consolidated Balance Sheets
Cash and cash equivalents	9,239	3,291
Marketable securities	22,431	37,878
Other assets	0	149
Total available-for-sale investments	$ 31,670	$ 41,318

Investments (Fair Values by Con

Investments (Fair Values by Contractual Maturity) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Fair values of available-for-sale debt security investments by contractual maturity
Total available-for-sale investments	$ 31,670	$ 41,318
Total interest-bearing securities [Member]
Fair values of available-for-sale debt security investments by contractual maturity
Maturing in one year or less	9,403	6,733
Maturing after one year through three years	6,579	12,820
Maturing after three years through five years	10,934	13,836
Maturing after five years through ten years	1,788	3,263
Maturing after ten years	0	52
Mortgage- and asset-backed securities	2,966	4,465
Total available-for-sale investments	$ 31,670	$ 41,169

Investments (Unrealized Losses

Investments (Unrealized Losses and Fair Values) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair value	$ 20,139	$ 25,250
Less than 12 months, Unrealized losses	(468)	(191)
12 months or more, Fair value	1,370	2,061
12 months or more, Unrealized losses	(40)	(31)
U.S. Treasury securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair value	5,023	7,728
Less than 12 months, Unrealized losses	(103)	(70)
12 months or more, Fair value	53	195
12 months or more, Unrealized losses	(1)	(2)
Other government-related debt securities - U.S. [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair value	103	188
Less than 12 months, Unrealized losses	(2)	(1)
12 months or more, Fair value	26	34
12 months or more, Unrealized losses	(1)	(1)
Other government-related debt securities - Foreign and other [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair value	1,367	1,163
Less than 12 months, Unrealized losses	(39)	(9)
12 months or more, Fair value	88	115
12 months or more, Unrealized losses	(4)	(2)
Corporate debt securities - Financial [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair value	5,648	5,928
Less than 12 months, Unrealized losses	(128)	(28)
12 months or more, Fair value	325	462
12 months or more, Unrealized losses	(9)	(6)
Corporate debt securities - Industrial [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair value	4,702	5,760
Less than 12 months, Unrealized losses	(117)	(43)
12 months or more, Fair value	397	612
12 months or more, Unrealized losses	(11)	(9)
Corporate debt securities - Other [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair value	727	868
Less than 12 months, Unrealized losses	(18)	(4)
12 months or more, Fair value	93	117
12 months or more, Unrealized losses	(3)	(2)
Residential mortgage-backed securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair value	1,464	1,838
Less than 12 months, Unrealized losses	(39)	(24)
12 months or more, Fair value	226	276
12 months or more, Unrealized losses	(7)	(6)
Other mortgage- and asset-backed securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair value	1,105	1,777
Less than 12 months, Unrealized losses	(22)	(12)
12 months or more, Fair value	162	250
12 months or more, Unrealized losses	$ (4)	$ (3)

Investments (Available-for-sale

Investments (Available-for-sale Investments) (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Investments, Debt and Equity Securities [Abstract]
Cash and cash equivalents	$ 502		$ 509
Total realized gains	17	$ 31
Total realized losses	$ 151	$ 84

Investments (Equity Investments

Investments (Equity Investments) (Details Textual) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Debt Securities, Trading, and Equity Securities, FV-NI [Line Items]
Equity securities	$ 155,000,000
Investment securities	$ 31,670,000,000	$ 41,318,000,000
Equity securities [Member]
Debt Securities, Trading, and Equity Securities, FV-NI [Line Items]
Investment securities		$ 149,000,000

Investments Investments (Limite

Investments Investments (Limited Partnership Investments) (Details) - Limited Partnership - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Net Investment Income [Line Items]
Investments	$ 254,000,000	$ 213,000,000
Unfunded additional commitments	$ 90,000,000

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Inventories
Raw materials	$ 275	$ 232
Work in process	1,627	1,668
Finished goods	1,050	934
Total inventories	$ 2,952	$ 2,834

Goodwill and other intangible48

Goodwill and other intangible assets (Goodwill Roll Forward) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 14,761
Addition from K-A acquisition	6
Currency translation adjustment	4
Ending balance	$ 14,771

Goodwill and other intangible49

Goodwill and other intangible assets (Identifiable Intangible Assets) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Finite-lived intangible assets:
Gross carrying amount	$ 18,847	$ 18,344
Accumulated amortization	(10,455)	(10,121)
Intangible assets, net	8,392	8,223
Indefinite-lived intangible assets:
Gross carrying amount	19,234	18,730
Accumulated amortization	(10,455)	(10,121)
Intangible assets, net	8,779	8,609
In-process Research and Development [Member]
Indefinite-lived intangible assets:
Indefinite-lived intangible assets	387	386
Developed-Product-Technology Rights [Member]
Finite-lived intangible assets:
Gross carrying amount	12,609	12,589
Accumulated amortization	(6,974)	(6,796)
Intangible assets, net	5,635	5,793
Licensing Rights [Member]
Finite-lived intangible assets:
Gross carrying amount	3,745	3,275
Accumulated amortization	(1,699)	(1,601)
Intangible assets, net	2,046	1,674
Marketing-Related Intangible Assets [Member]
Finite-lived intangible assets:
Gross carrying amount	1,316	1,319
Accumulated amortization	(948)	(920)
Intangible assets, net	368	399
R&D Technology Rights [Member]
Finite-lived intangible assets:
Gross carrying amount	1,177	1,161
Accumulated amortization	(834)	(804)
Intangible assets, net	$ 343	$ 357

Goodwill and other intangible50

Goodwill and other intangible assets (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization charges associated with finite-lived intangible assets	$ 320	$ 373
Total estimated amortization of finite-lived intangible assets for the nine months ending December 31, 2018	1,000
Total estimated amortization of finite-lived intangible assets for 2019	1,300
Total estimated amortization of finite-lived intangible assets for 2020	1,200
Total estimated amortization of finite-lived intangible assets for 2021	1,000
Total estimated amortization of finite-lived intangible assets for 2022	900
Total estimated amortization of finite-lived intangible assets for 2023	$ 900

Financing arrangements (Princip

Financing arrangements (Principal Amounts and Carrying Value of Long-term Borrowings) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Unamortized bond discounts, premiums and issuance costs, net	$ (920)	$ (929)
Total carrying value of debt	35,541	35,342
Less current portion	(2,183)	(1,152)
Total noncurrent debt	33,358	34,190
Notes [Member] | 6.15% notes due 2018 (6.15% 2018 Notes) [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 500	500
Interest rate, stated percentage	6.15%
Notes [Member] | 4.375% €550 million notes due 2018 (4.375% 2018 euro Notes) [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 684	653
Interest rate, stated percentage	4.375%
Notes [Member] | 5.70% notes due 2019 (5.70% 2019 Notes) [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,000	1,000
Interest rate, stated percentage	5.70%
Notes [Member] | 1.90% notes due 2019 (1.90% 2019 Notes) [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 700	700
Interest rate, stated percentage	1.90%
Notes [Member] | Floating Rate Notes due 2019 [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 550	550
Notes [Member] | 2.20% notes due 2019 (2.20% 2019 Notes) [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,400	1,400
Interest rate, stated percentage	2.20%
Notes [Member] | 2.125% Euro Notes Due 2019 [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 832	810
Interest rate, stated percentage	2.125%
Notes [Member] | 4.50% notes due 2020 (4.50% 2020 Notes) [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 300	300
Interest rate, stated percentage	4.50%
Notes [Member] | 2.125% notes due 2020 (2.125% 2020 Notes) [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 750	750
Interest rate, stated percentage	2.125%
Notes [Member] | Floating Rate Notes Due 2020 [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 300	300
Notes [Member] | 2.20% notes due 2020 (2.20% 2020 Notes) [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 700	700
Interest rate, stated percentage	2.20%
Notes [Member] | 3.45% notes due 2020 (3.45% 2020 Notes) [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 900	900
Interest rate, stated percentage	3.45%
Notes [Member] | 4.10% notes due 2021 (4.10% 2021 Notes) [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,000	1,000
Interest rate, stated percentage	4.10%
Notes [Member] | 1.85% notes due 2021 (1.85% 2021 Notes) [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 750	750
Interest rate, stated percentage	1.85%
Notes [Member] | 3.875% notes due 2021 (3.875% 2021 Notes) [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,750	1,750
Interest rate, stated percentage	3.875%
Notes [Member] | 1.25% €1,250 million notes due 2022 (1.25% 2022 euro Notes) [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,541	1,501
Interest rate, stated percentage	1.25%
Notes [Member] | 2.70% notes due 2022 (2.70% 2022 Notes) [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 500	500
Interest rate, stated percentage	2.70%
Notes [Member] | 2.65% notes due 2022 (2.65% 2022 Notes) [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,500	1,500
Interest rate, stated percentage	2.65%
Notes [Member] | 3.625% notes due 2022 (3.625% 2022 Notes) [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 750	750
Interest rate, stated percentage	3.625%
Notes [Member] | 0.41% Swiss-franc-denominated bonds due 2023 (0.41% 2023 Swiss franc Bonds) [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 734	719
Interest rate, stated percentage	0.41%
Notes [Member] | 2.25% notes due 2023 (2.25% 2023 Notes) [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 750	750
Interest rate, stated percentage	2.25%
Notes [Member] | 3.625% notes due 2024 (3.625% 2024 Notes) [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,400	1,400
Interest rate, stated percentage	3.625%
Notes [Member] | 3.125% notes due 2025 (3.125% 2025 Notes) [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,000	1,000
Interest rate, stated percentage	3.125%
Notes [Member] | 2.00% €750 million notes due 2026 (2.00% 2026 euro Notes) [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 924	901
Interest rate, stated percentage	2.00%
Notes [Member] | 2.60% notes due 2026 (2.60% 2026 notes) [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,250	1,250
Interest rate, stated percentage	2.60%
Notes [Member] | 5.50% pound-sterling denominated notes due 2026 (5.50% 2026 pound sterling Notes) [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 666	642
Interest rate, stated percentage	5.50%
Notes [Member] | 3.20% notes due 2027 (3.20% 2027 Notes) [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,000	1,000
Interest rate, stated percentage	3.20%
Notes [Member] | 4.00% pound-sterling denominated notes due 2029 (4.00% 2029 pound sterling Notes) [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 981	946
Interest rate, stated percentage	4.00%
Notes [Member] | 6.375% notes due 2037 (6.375% 2037 Notes) [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 552	552
Interest rate, stated percentage	6.375%
Notes [Member] | 6.90% notes due 2038 (6.90% 2038 Notes) [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 291	291
Interest rate, stated percentage	6.90%
Notes [Member] | 6.40% notes due 2039 (6.40% 2039 Notes) [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 466	466
Interest rate, stated percentage	6.40%
Notes [Member] | 5.75% notes due 2040 (5.75% 2040 Notes) [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 412	412
Interest rate, stated percentage	5.75%
Notes [Member] | 4.95% notes due 2041 (4.95% 2041 Notes) [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 600	600
Interest rate, stated percentage	4.95%
Notes [Member] | 5.15% notes due 2041 (5.15% 2041 Notes) [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 974	974
Interest rate, stated percentage	5.15%
Notes [Member] | 5.65% notes due 2042 (5.65% 2042 Notes) [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 487	487
Interest rate, stated percentage	5.65%
Notes [Member] | 5.375% notes due 2043 (5.375% 2043 Notes) [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 261	261
Interest rate, stated percentage	5.375%
Notes [Member] | 4.40% notes due 2045 (4.40% 2045 Notes) [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 2,250	2,250
Interest rate, stated percentage	4.40%
Notes [Member] | 4.563% notes due 2048 (4.563% 2048 Notes) [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,415	1,415
Interest rate, stated percentage	4.563%
Notes [Member] | 4.663% notes due 2051 (4.663% 2051 Notes) [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 3,541	3,541
Interest rate, stated percentage	4.663%
Notes [Member] | Other notes due 2097 [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 100	$ 100

Financing arrangements (Details

Financing arrangements (Details Textual) - Notes [Member]	Mar. 31, 2018
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%

Stockholders' equity (Share Rep

Stockholders' equity (Share Repurchase Program) (Details) - USD ($) shares in Millions, $ in Millions	Mar. 08, 2018	Mar. 31, 2018	Mar. 31, 2017
Equity [Abstract]
Stock repurchased, Shares	52.1	56.4	3.4
Stock repurchased		$ 10,787	$ 555

Stockholders' equity (Details T

Stockholders' equity (Details Textual) - USD ($) $ / shares in Units, shares in Millions	Mar. 08, 2018	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2018	Mar. 31, 2017	Apr. 24, 2018	Jan. 31, 2018
Equity [Abstract]
Number of shares repurchased	52.1			56.4	3.4
Stock repurchase program, tender offer amount				$ 10,000,000,000
Amount available for stock repurchases under a board approved stock repurchase plan		$ 3,600,000,000		$ 3,600,000,000
Dividends declared per share (in usd per share)		$ 1.32	$ 1.32
Dividends paid per share (in usd per share)		$ 1.32		$ 1.32	$ 1.15
Stock Repurchase Program [Line Items]
Stock repurchase program, additional authorized amount							$ 10,000,000,000
Subsequent Event [Member]
Stock Repurchase Program [Line Items]
Stock repurchase program, additional authorized amount						$ 5,000,000,000

Stockholders' equity (Component

Stockholders' equity (Components of AOCI) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Increase (Decrease) in AOCI [Roll Forward]
Balance as of beginning of period	$ 25,241
Foreign currency translation adjustments	29	$ 24
Balance as of end of period	15,620
Foreign currency translation [Member]
Increase (Decrease) in AOCI [Roll Forward]
Balance as of beginning of period	(529)
Foreign currency translation adjustments	29
Balance as of end of period	(500)
Cash flow hedges [Member]
Increase (Decrease) in AOCI [Roll Forward]
Balance as of beginning of period	(6)
Unrealized gains (losses)	149
Reclassification adjustments to income	(130)
Income taxes	(13)
Balance as of end of period	0
Available-for-sale securities [Member]
Increase (Decrease) in AOCI [Roll Forward]
Balance as of beginning of period	(144)
Cumulative effect of change in accounting principle, net of tax			$ (9)
Unrealized gains (losses)	(482)
Reclassification adjustments to income	134
Income taxes	5
Balance as of end of period	(496)
Other [Member]
Increase (Decrease) in AOCI [Roll Forward]
Balance as of beginning of period	0
Unrealized gains (losses)	0
Other	2
Balance as of end of period	2
AOCI [Member]
Increase (Decrease) in AOCI [Roll Forward]
Balance as of beginning of period	(679)
Cumulative effect of change in accounting principle, net of tax			$ (9)
Foreign currency translation adjustments	29
Unrealized gains (losses)	(333)
Reclassification adjustments to income	4
Other	2
Income taxes	(8)
Balance as of end of period	$ (994)

Stockholders' equity (Reclassif

Stockholders' equity (Reclassifications out of AOCI) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Product sales	$ 5,343	$ 5,199
Interest and other income, net	231	195
Income before income taxes	2,619	2,460
Provision for income taxes	(308)	(389)
Net income	2,311	2,071
Reclassification out of Accumulated Other Comprehensive Income [Member] | Cash flow hedges [Member]
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes	130	131
Provision for income taxes	(28)	(47)
Net income	102	84
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	(134)	(49)
Provision for income taxes	1	0
Net income	(133)	(49)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Cash flow hedges [Member] | Cash flow hedges [Member]
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes	130	131
Reclassification out of Accumulated Other Comprehensive Income [Member] | Cash flow hedges [Member] | Foreign currency contract [Member] | Cash flow hedges [Member]
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Product sales	(34)	57
Reclassification out of Accumulated Other Comprehensive Income [Member] | Cash flow hedges [Member] | Cross-currency swap contract [Member] | Cash flow hedges [Member]
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Interest and other income, net	$ 164	$ 74

Fair value measurement (Details

Fair value measurement (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Assets:
Total available-for-sale investments	$ 31,670	$ 41,318
Fair Value, Measurements, Recurring [Member]
Derivatives:
Total assets	32,275	41,604
Derivatives:
Contingent consideration obligations in connection with business combinations	110	69
Total liabilities	732	554
Fair Value, Measurements, Recurring [Member] | Foreign currency contracts [Member]
Derivatives:
Foreign currency and cross-currency swap contracts	17	6
Derivatives:
Foreign currency and cross-currency swap contracts	259	204
Fair Value, Measurements, Recurring [Member] | Cross-currency swap contracts [Member]
Derivatives:
Foreign currency and cross-currency swap contracts	433	270
Derivatives:
Foreign currency and cross-currency swap contracts	148	220
Fair Value, Measurements, Recurring [Member] | Interest rate swap contracts [Member]
Derivatives:
Interest rate contracts		10
Derivatives:
Interest rate swap contracts	215	61
Fair Value, Measurements, Recurring [Member] | U.S. Treasury securities [Member]
Assets:
Total available-for-sale investments	5,103	8,242
Fair Value, Measurements, Recurring [Member] | Other government-related debt securities - U.S. [Member]
Assets:
Total available-for-sale investments	129	223
Fair Value, Measurements, Recurring [Member] | Other government-related debt securities - Foreign and other [Member]
Assets:
Total available-for-sale investments	1,674	2,422
Fair Value, Measurements, Recurring [Member] | Corporate debt securities - Financial [Member]
Assets:
Total available-for-sale investments	6,053	10,072
Fair Value, Measurements, Recurring [Member] | Corporate debt securities - Industrial [Member]
Assets:
Total available-for-sale investments	5,565	9,670
Fair Value, Measurements, Recurring [Member] | Corporate debt securities - Other [Member]
Assets:
Total available-for-sale investments	896	1,390
Fair Value, Measurements, Recurring [Member] | Residential mortgage-backed securities [Member]
Assets:
Total available-for-sale investments	1,699	2,168
Fair Value, Measurements, Recurring [Member] | Other mortgage- and asset-backed securities [Member]
Assets:
Total available-for-sale investments	1,267	2,297
Fair Value, Measurements, Recurring [Member] | Money market mutual funds [Member]
Assets:
Total available-for-sale investments	9,234	3,245
Fair Value, Measurements, Recurring [Member] | Other short-term interest-bearing securities [Member]
Assets:
Total available-for-sale investments	50	1,440
Fair Value, Measurements, Recurring [Member] | Equity securities [Member]
Assets:
Total available-for-sale investments	155	149
Fair Value, Measurements, Recurring [Member] | Quoted prices in active markets for identical assets (Level 1) [Member]
Derivatives:
Total assets	14,492	11,636
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	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
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	5,103	8,242
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	9,234	3,245
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	155	149
Fair Value, Measurements, Recurring [Member] | Significant other observable inputs (Level 2) [Member]
Derivatives:
Total assets	17,783	29,968
Derivatives:
Contingent consideration obligations in connection with business combinations	0	0
Total liabilities	622	485
Fair Value, Measurements, Recurring [Member] | Significant other observable inputs (Level 2) [Member] | Foreign currency contracts [Member]
Derivatives:
Foreign currency and cross-currency swap contracts	17	6
Derivatives:
Foreign currency and cross-currency swap contracts	259	204
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	433	270
Derivatives:
Foreign currency and cross-currency swap contracts	148	220
Fair Value, Measurements, Recurring [Member] | Significant other observable inputs (Level 2) [Member] | Interest rate swap contracts [Member]
Derivatives:
Interest rate contracts		10
Derivatives:
Interest rate swap contracts	215	61
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	129	223
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	1,674	2,422
Fair Value, Measurements, Recurring [Member] | Significant other observable inputs (Level 2) [Member] | Corporate debt securities - Financial [Member]
Assets:
Total available-for-sale investments	6,053	10,072
Fair Value, Measurements, Recurring [Member] | Significant other observable inputs (Level 2) [Member] | Corporate debt securities - Industrial [Member]
Assets:
Total available-for-sale investments	5,565	9,670
Fair Value, Measurements, Recurring [Member] | Significant other observable inputs (Level 2) [Member] | Corporate debt securities - Other [Member]
Assets:
Total available-for-sale investments	896	1,390
Fair Value, Measurements, Recurring [Member] | Significant other observable inputs (Level 2) [Member] | Residential mortgage-backed securities [Member]
Assets:
Total available-for-sale investments	1,699	2,168
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	1,267	2,297
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	50	1,440
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	110	69	$ 184	$ 179
Total liabilities	110	69
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	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
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, 2018	Mar. 31, 2017
Business Combination, Contingent Consideration [Roll Forward]
Beginning balance	$ 69
Ending balance	110
Significant unobservable inputs (Level 3) [Member]
Business Combination, Contingent Consideration [Roll Forward]
Beginning balance	69	$ 179
Addition from K-A acquisition	45	0
Net changes in valuations	(4)	5
Ending balance	$ 110	$ 184

Fair value measurements (Detail

Fair value measurements (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Length of time hedged in foreign currency contracts (or less)	3 years
Long-term debt, fair value	$ 37,600	$ 38,600
Carrying value of debt	$ 35,541	$ 35,342
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	Mar. 31, 2018	Dec. 31, 2017
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, foreign currency and cross-currency swaps	$ (202)
Rate adjustment to LIBOR on interest rate swap agreements [Member] | Three-Month LIBOR [Member] | Minimum [Member]
Derivative Instruments Gain Loss [Line Items]
Derivative, variable interest rate	0.30%
Rate adjustment to LIBOR on interest rate swap agreements [Member] | Three-Month LIBOR [Member] | Maximum [Member]
Derivative Instruments Gain Loss [Line Items]
Derivative, variable interest rate	2.00%
Derivatives designated as hedging instrument [Member] | Foreign currency forward contracts [Member]
Derivative Instruments Gain Loss [Line Items]
Derivative, notional amount	$ 5,100	$ 4,600
Derivatives designated as hedging instrument [Member] | Foreign currency option contracts [Member]
Derivative Instruments Gain Loss [Line Items]
Derivative, notional amount	60	74
Derivatives designated as hedging instrument [Member] | Interest rate swap [Member]
Derivative Instruments Gain Loss [Line Items]
Derivative, notional amount		9,450
Derivatives not designated as hedging instrument [Member] | Foreign currency forward contracts [Member]
Derivative Instruments Gain Loss [Line Items]
Derivative, notional amount	$ 335	$ 757

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, 2018USD ($)	Mar. 31, 2018GBP (£)	Mar. 31, 2018CHF (SFr)	Mar. 31, 2018EUR (€)
2.125% 2019 euro Notes [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% 2023 Swiss franc Bonds [Member]
Derivative [Line Items]
Notional amount	704		SFr 700
2.00% 2026 euro Notes [Member]
Derivative [Line Items]
Notional amount	833			€ 750
5.50% 2026 pound sterling Notes [Member]
Derivative [Line Items]
Notional amount	747	£ 475
4.00% 2029 pound sterling Notes [Member]
Derivative [Line Items]
Notional amount	$ 1,111	£ 700
Euro Member Countries, Euro | 2.125% 2019 euro Notes [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% 2026 euro Notes [Member]
Derivative [Line Items]
Interest rate	2.00%	2.00%	2.00%	2.00%
Switzerland, Francs | 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% 2026 pound sterling Notes [Member]
Derivative [Line Items]
Interest rate	5.50%	5.50%	5.50%	5.50%
United Kingdom, Pounds | 4.00% 2029 pound sterling Notes [Member]
Derivative [Line Items]
Interest rate	4.00%	4.00%	4.00%	4.00%
United States of America, Dollars | 2.125% 2019 euro Notes [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% 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% 2026 euro Notes [Member]
Derivative [Line Items]
Interest rate	3.90%	3.90%	3.90%	3.90%
United States of America, Dollars | 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% 2029 pound sterling Notes [Member]
Derivative [Line Items]
Interest rate	4.50%	4.50%	4.50%	4.50%

Derivative instruments (Effecti

Derivative instruments (Effective Portion of Unrealized Gain (Loss)) (Details) - Cash flow hedge [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
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	$ 149	$ 17
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	(89)	(47)
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	$ 238	$ 64

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, 2018	Mar. 31, 2017
Derivative Instruments Gain Loss [Line Items]
Product sales	$ 5,343	$ 5,199
Interest and other income, net	231	195
Income before income taxes	2,619	2,460
Accumulated net gain (loss) from cash flow hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Derivative Instruments Gain Loss [Line Items]
Income before income taxes	130	131
Accumulated net gain (loss) from 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	130	131
Accumulated net gain (loss) from 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	(34)	57
Accumulated net gain (loss) from 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	$ 164	$ 74

Derivative instruments Derivati

Derivative instruments Derivative instruments (Fair Value Hedging Relationships) (Details) - Interest expense, net [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Derivative [Line Items]
Net unrealized losses recognized for interest rate swap contracts	$ (164)	$ (19)
Net unrealized gains recognized for related hedged debt	$ 164	$ 19

Derivative instruments (Locat65

Derivative instruments (Locations and Gain (Loss) for Derivatives Not Designated as Hedging Instruments) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
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	$ 7	$ 1

Derivative instruments (Fair Va

Derivative instruments (Fair Value of Derivatives) (Details) - Derivatives designated as hedging instrument [Member] - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Assets
Total derivative assets, fair value	$ 450	$ 286
Liabilities
Total derivative liabilities, fair value	622	485
Foreign currency contracts [Member] | Other current assets/Other assets [Member]
Assets
Total derivative assets, fair value	17	6
Foreign currency contracts [Member] | Accrued liabilities/Other noncurrent liabilities [Member]
Liabilities
Total derivative liabilities, fair value	259	204
Cross-currency swap contracts [Member] | Other current assets/Other assets [Member]
Assets
Total derivative assets, fair value	433	270
Cross-currency swap contracts [Member] | Accrued liabilities/Other noncurrent liabilities [Member]
Liabilities
Total derivative liabilities, fair value	148	220
Interest rate swap contracts [Member] | Other current assets/Other assets [Member]
Assets
Total derivative assets, fair value	0	10
Interest rate swap contracts [Member] | Accrued liabilities/Other noncurrent liabilities [Member]
Liabilities
Total derivative liabilities, fair value	$ 215	$ 61

Contingencies and commitments (

Contingencies and commitments (Details)	Mar. 09, 2018petition	Mar. 08, 2018patent	Mar. 05, 2018lawsuit	Feb. 15, 2018patent	Mar. 02, 2018claim
Sanofi/Regeneron Patent Litigation [Member]
Loss Contingencies [Line Items]
Number of pending claims | claim					2
Sensipar (cinacalcet) Patent Litigation [Member]
Loss Contingencies [Line Items]
Gain contingency, number of lawsuits filed | lawsuit			4
Adello NEUPOGEN Patent Litigation [Member]
Loss Contingencies [Line Items]
Gain contingency, patents allegedly infringed upon, number		17
Apotex NEUPOGEN/Neulasta [Member]
Loss Contingencies [Line Items]
Loss contingency, patents allegedly infringed, number				1
Coherus ENBREL Patent Challenge [Member]
Loss Contingencies [Line Items]
Number of denied petitions | petition	2