Amgen (AMGN) 10-Q 4 Aug 21 2021 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2021	Jul. 29, 2021
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	001-37702
Entity Registrant Name	Amgen Inc.
Entity Central Index Key	0000318154
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	95-3540776
Entity Address, Address Line One	One Amgen Center Drive
Entity Address, City or Town	Thousand Oaks
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	91320-1799
City Area Code	805
Local Phone Number	447-1000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		567,852,353
The NASDAQ Global Select Market [Member] | Common Stock [Member]
Entity Information [Line Items]
Title of 12(b) Security	Common stock, $0.0001 par value
Trading Symbol	AMGN
Security Exchange Name	NASDAQ
The NASDAQ Global Select Market [Member] | 1.250% Senior Notes Due 2022 [Member]
Entity Information [Line Items]
Title of 12(b) Security	1.250% Senior Notes due 2022
Trading Symbol	AMGN22
Security Exchange Name	NASDAQ
The NASDAQ Global Select Market [Member] | 2.00% Senior Notes Due 2026 [Member]
Entity Information [Line Items]
Title of 12(b) Security	2.00% Senior Notes due 2026
Trading Symbol	AMGN26
Security Exchange Name	NASDAQ

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 464	$ 1,803	$ 2,110	$ 3,628
Other comprehensive (loss) income, net of reclassification adjustments and taxes:
Gains (losses) on foreign currency translation	14	(3)	(25)	(55)
(Losses) gains on cash flow hedges	(48)	(116)	142	(177)
Losses on available-for-sale securities	0	(2)	0	(21)
Other	(1)	0	0	(2)
Other comprehensive (loss) income, net of taxes	(35)	(121)	117	(255)
Comprehensive income	$ 429	$ 1,682	$ 2,227	$ 3,373

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenues:
Total revenues	$ 6,526	$ 6,206	$ 12,427	$ 12,367
Operating expenses:
Cost of sales	1,637	1,488	3,127	3,001
Research and development	1,082	964	2,049	1,916
Acquired in-process research and development	1,505	0	1,505	0
Selling, general and administrative	1,384	1,295	2,638	2,611
Other	90	136	151	161
Total operating expenses	5,698	3,883	9,470	7,689
Operating income	828	2,323	2,957	4,678
Interest expense, net	(281)	(296)	(566)	(642)
Other income, net	11	3	24	14
Income before income taxes	558	2,030	2,415	4,050
Provision for income taxes	94	227	305	422
Net income	$ 464	$ 1,803	$ 2,110	$ 3,628
Earnings per share:
Basic (in usd per share)	$ 0.81	$ 3.07	$ 3.67	$ 6.16
Diluted (in usd per share)	$ 0.81	$ 3.05	$ 3.65	$ 6.12
Shares used in calculation of earnings per share:
Basic (in shares)	573	588	575	589
Diluted (in shares)	576	592	578	593
Product sales [Member]
Revenues:
Product sales	$ 6,114	$ 5,908	$ 11,706	$ 11,802
Other revenues [Member]
Revenues:
Total revenues	$ 412	$ 298	$ 721	$ 565

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 6,630	$ 6,266
Marketable securities	1,452	4,381
Trade receivables, net	4,479	4,525
Inventories	4,115	3,893
Other current assets	2,423	2,079
Total current assets	19,099	21,144
Property, plant and equipment, net	4,906	4,889
Intangible assets, net	15,308	16,587
Goodwill	14,676	14,689
Other noncurrent assets	5,784	5,639
Total assets	59,773	62,948
Current liabilities:
Accounts payable	1,277	1,421
Accrued liabilities	8,984	10,141
Current portion of long-term debt	4,324	91
Total current liabilities	14,585	11,653
Long-term debt	28,458	32,895
Long-term tax liabilities	6,428	6,968
Other noncurrent liabilities	2,055	2,023
Contingencies and commitments
Stockholders’ equity:
Common stock and additional paid-in capital; $0.0001 par value; 2,750.0 shares authorized; outstanding—569.6 shares in 2021 and 578.3 shares in 2020	31,877	31,802
Accumulated deficit	(22,762)	(21,408)
Accumulated other comprehensive loss	(868)	(985)
Total stockholders’ equity	8,247	9,409
Total liabilities and stockholders’ equity	$ 59,773	$ 62,948

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Millions	Jun. 30, 2021	Dec. 31, 2020
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	569.6	578.3

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Millions, $ in Millions	Total	Cumulative effect of changes in accounting principles, net of tax	Number of shares of common stock [Member]	Common stock and additional paid-in capital [Member]	Accumulated deficit [Member]	Accumulated deficit [Member]Cumulative effect of changes in accounting principles, net of tax	Accumulated other comprehensive loss [Member]
Beginning Balance, Shares at Dec. 31, 2019			591.4
Balance as of beginning of period at Dec. 31, 2019	$ 9,673	$ (2)		$ 31,531	$ (21,330)	$ (2)	$ (528)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income for basic and diluted EPS	1,825				1,825
Other comprehensive income (loss), net of taxes	(134)						(134)
Dividends declared on common stock	(938)				(938)
Issuance of common stock in connection with the Company’s equity award programs, Shares			0.9
Issuance of common stock in connection with the Company’s equity award programs	10			10
Stock-based compensation expense	52			52
Tax impact related to employee stock-based compensation expense	(68)			(68)
Repurchases of common stock, Shares			(4.3)
Repurchases of common stock	(933)				(933)
Ending Balance, Shares at Mar. 31, 2020			588
Balance as of end of period at Mar. 31, 2020	9,485			31,525	(21,378)		(662)
Beginning Balance, Shares at Dec. 31, 2019			591.4
Balance as of beginning of period at Dec. 31, 2019	9,673	$ (2)		31,531	(21,330)	$ (2)	(528)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income for basic and diluted EPS	3,628
Ending Balance, Shares at Jun. 30, 2020			586.4
Balance as of end of period at Jun. 30, 2020	10,659			31,610	(20,168)		(783)
Beginning Balance, Shares at Mar. 31, 2020			588
Balance as of beginning of period at Mar. 31, 2020	9,485			31,525	(21,378)		(662)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income for basic and diluted EPS	1,803				1,803
Other comprehensive income (loss), net of taxes	(121)						(121)
Issuance of common stock in connection with the Company’s equity award programs, Shares			1
Issuance of common stock in connection with the Company’s equity award programs	65			65
Stock-based compensation expense	101			101
Tax impact related to employee stock-based compensation expense	(81)			(81)
Repurchases of common stock, Shares			(2.6)
Repurchases of common stock	(591)				(591)
Other	(2)				(2)
Ending Balance, Shares at Jun. 30, 2020			586.4
Balance as of end of period at Jun. 30, 2020	$ 10,659			31,610	(20,168)		(783)
Beginning Balance, Shares at Dec. 31, 2020	578.3		578.3
Balance as of beginning of period at Dec. 31, 2020	$ 9,409			31,802	(21,408)		(985)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income for basic and diluted EPS	1,646				1,646
Other comprehensive income (loss), net of taxes	152						152
Dividends declared on common stock	(1,012)				(1,012)
Issuance of common stock in connection with the Company’s equity award programs, Shares			0.7
Issuance of common stock in connection with the Company’s equity award programs	6			6
Stock-based compensation expense	57			57
Tax impact related to employee stock-based compensation expense	(59)			(59)
Repurchases of common stock, Shares			(3.7)
Repurchases of common stock	(865)				(865)
Ending Balance, Shares at Mar. 31, 2021			575.3
Balance as of end of period at Mar. 31, 2021	$ 9,334			31,806	(21,639)		(833)
Beginning Balance, Shares at Dec. 31, 2020	578.3		578.3
Balance as of beginning of period at Dec. 31, 2020	$ 9,409			31,802	(21,408)		(985)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income for basic and diluted EPS	$ 2,110
Ending Balance, Shares at Jun. 30, 2021	569.6		569.6
Balance as of end of period at Jun. 30, 2021	$ 8,247			31,877	(22,762)		(868)
Beginning Balance, Shares at Mar. 31, 2021			575.3
Balance as of beginning of period at Mar. 31, 2021	9,334			31,806	(21,639)		(833)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income for basic and diluted EPS	464				464
Other comprehensive income (loss), net of taxes	(35)						(35)
Issuance of common stock in connection with the Company’s equity award programs, Shares			0.8
Issuance of common stock in connection with the Company’s equity award programs	47			47
Stock-based compensation expense	100			100
Tax impact related to employee stock-based compensation expense	(76)			(76)
Repurchases of common stock, Shares			(6.5)
Repurchases of common stock	(1,592)				(1,592)
Other	$ 5				5
Ending Balance, Shares at Jun. 30, 2021	569.6		569.6
Balance as of end of period at Jun. 30, 2021	$ 8,247			$ 31,877	$ (22,762)		$ (868)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	1 Months Ended			3 Months Ended
	Jul. 31, 2021	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Statement of Stockholders' Equity [Abstract]
Common stock, dividends declared per share (in usd per share)	$ 1.76	$ 1.76	$ 1.76	$ 1.76	$ 1.60

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net income	$ 2,110	$ 3,628
Depreciation, amortization and other	1,696	1,827
Deferred income taxes	(137)	(261)
Acquired in-process research and development	1,505	0
Other items, net	170	245
Changes in operating assets and liabilities, net of acquisitions:
Trade receivables, net	35	(1,177)
Inventories	(167)	(226)
Other assets	(258)	143
Accounts payable	(156)	(216)
Accrued income taxes, net	(930)	452
Long-term tax liabilities	47	106
Other liabilities	120	455
Net cash provided by operating activities	4,035	4,976
Cash flows from investing activities:
Payments to Acquire Businesses, Net of Cash Acquired	(1,626)	0
Purchases of marketable securities	(8,000)	(2,229)
Proceeds from sales of marketable securities	4,404	2,598
Proceeds from maturities of marketable securities	6,528	238
Purchases of property, plant and equipment	(351)	(300)
Purchases of equity method investments	(3)	(2,648)
Other	(62)	(48)
Net cash provided by (used in) investing activities	890	(2,389)
Cash flows from financing activities:
Net proceeds from issuance of debt	0	9,002
Repayment of debt	0	(5,000)
Repurchases of common stock	(2,452)	(1,516)
Dividends paid	(2,024)	(1,887)
Other	(85)	(78)
Net cash (used in) provided by financing activities	(4,561)	521
Increase in cash and cash equivalents	364	3,108
Cash and cash equivalents at beginning of period	6,266	6,037
Cash and cash equivalents at end of period	$ 6,630	$ 9,145

Summary of significant accounti

Summary of significant accounting policies	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Summary of significant accounting policies	Summary of significant accounting policies Business Amgen Inc. (including its subsidiaries, referred to as “Amgen,” “the Company,” “we,” “our” or “us”) is a global biotechnology pioneer that discovers, develops, manufactures and delivers innovative human therapeutics. We operate in one business segment: human therapeutics. Basis of presentation The financial information for the three and six months ended June 30, 2021 and 2020, 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, 2020, and with our condensed consolidated financial statements and the notes thereto contained in our Quarterly Report on Form 10-Q for the period ended March 31, 2021. 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 $9.1 billion and $9.0 billion as of June 30, 2021 and December 31, 2020, respectively. Recent accounting pronouncements In March 2020, the Financial Accounting Standards Board (FASB) issued a new accounting standard to ease the financial reporting burdens caused by the expected market transition from the London Interbank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates, commonly referred to as reference rate reform . The new standard provides temporary optional expedients and exceptions to current GAAP guidance on contract modifications and hedge accounting. Specifically, a modification to transition to an alternative reference rate is treated as an event that does not require contract remeasurement or reassessment of a previous accounting treatment. Moreover, for all types of hedging relationships, an entity is permitted to change the reference rate without having to dedesignate the hedging relationship. The standard is generally effective for all contract modifications made and hedging relationships evaluated through December 31, 2022. In January 2021, the FASB issued a new accounting standard to expand on the scope of the original March 2020 standard to include derivative instruments on discounting transactions. We are currently evaluating the impact that both standards will have on our condensed consolidated financial statements.

Business Combinations and Asset

Business Combinations and Asset Acquisitions	6 Months Ended
	Jun. 30, 2021
Business Combination and Asset Acquisition [Abstract]
Business Combination Disclosure [Text Block]	Acquisitions On April 16, 2021, Amgen completed its acquisition of Five Prime Therapeutics, Inc. (Five Prime) for total consideration of $1.6 billion, net of cash acquired. The purchase price was funded with cash on hand. This transaction was accounted for as an asset acquisition because substantially all the value of the assets acquired was concentrated in the intellectual property rights of bemarituzumab, a phase 3 trial-ready, first-in-class program for gastric cancer. Five Prime’s operations have been included in our condensed consolidated financial statements commencing after the acquisition date. We allocated the consideration to acquire Five Prime to: the bemarituzumab in-process research and development (IPR&D) program of $1.5 billion, which was expensed immediately in Acquired IPR&D expense in the Condensed Consolidated Statements of Income; deferred tax assets of $177 million; and other net liabilities of $47 million. The acquired IPR&D expense was not tax deductible.

Revenues

Revenues	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenues	Revenues 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 customers’ locations, are presented below. The majority of rest-of-world (ROW) revenues relates to products sold in Europe. Revenues were as follows (in millions): Three months ended June 30, 2021 2020 U.S. ROW Total U.S. ROW Total Enbrel ® (etanercept) $ 1,113 $ 31 $ 1,144 $ 1,213 $ 33 $ 1,246 Prolia ® (denosumab) 538 276 814 441 218 659 Otezla ® (apremilast) 423 111 534 464 97 561 Neulasta ® (pegfilgrastim) 434 52 486 520 73 593 XGEVA ® (denosumab) 355 133 488 318 117 435 Aranesp ® (darbepoetin alfa) 135 232 367 156 231 387 Repatha ® (evolocumab) 143 143 286 115 85 200 KYPROLIS ® (carfilzomib) 190 90 280 167 86 253 Other products 1,043 672 1,715 1,034 540 1,574 Total product sales (1) $ 4,374 $ 1,740 6,114 $ 4,428 $ 1,480 5,908 Other revenues 412 298 Total revenues $ 6,526 $ 6,206 Six months ended June 30, 2021 2020 U.S. ROW Total U.S. ROW Total ENBREL $ 2,007 $ 61 $ 2,068 $ 2,330 $ 69 $ 2,399 Prolia ® 1,039 533 1,572 863 450 1,313 Otezla ® 789 221 1,010 841 199 1,040 Neulasta ® 855 113 968 1,054 148 1,202 XGEVA ® 689 267 956 673 243 916 Aranesp ® 260 462 722 331 478 809 Repatha ® 282 290 572 239 190 429 KYPROLIS ® 349 182 531 354 179 533 Other products 2,007 1,300 3,307 2,022 1,139 3,161 Total product sales (1) $ 8,277 $ 3,429 11,706 $ 8,707 $ 3,095 11,802 Other revenues 721 565 Total revenues $ 12,427 $ 12,367 ____________

Income taxes

Income taxes	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income taxes	Income taxes The effective tax rates for the three and six months ended June 30, 2021, were 16.8% and 12.6%, respectively, compared with 11.2% and 10.4%, respectively, for the corresponding periods of the prior year. The increase in our effective tax rate for the three and six months ended June 30, 2021, was primarily due to the non-deductible IPR&D expense arising from the acquisition of Five Prime. The effective tax rates differ from the federal statutory rate primarily as a result of foreign earnings from the Company’s operations conducted in Puerto Rico, a territory of the United States that is treated as a foreign jurisdiction for U.S. tax purposes, that are subject to a tax incentive grant through 2035. In addition, the Company’s operations conducted in Singapore are subject to a tax incentive grant through 2034. These earnings are also subject to U.S. tax at a reduced rate of 10.5%. 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 examined by tax authorities in those jurisdictions. Significant disputes may arise with tax authorities involving issues regarding 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 relevant facts. In 2017, we received a Revenue Agent Report (RAR) and a modified RAR from the Internal Revenue Service (IRS) for the years 2010, 2011 and 2012 proposing significant adjustments that primarily relate to the allocation of profits between certain of our entities in the United States and the U.S. territory of Puerto Rico. We disagreed with the proposed adjustments and calculations and pursued a resolution with the IRS administrative appeals office. As previously reported, we were unable to reach resolution with the IRS appeals office. In July 2021, we filed a petition in the U.S. Tax Court to contest two duplicate Statutory Notices of Deficiency (Notices) for 2010, 2011 and 2012 that we received in May and July 2021. The duplicate Notices seek to increase our U.S. taxable income by an amount that would result in additional federal tax of approximately $3.6 billion, plus interest. Any additional tax that could be imposed would be reduced by up to approximately $900 million of repatriation tax previously accrued on our foreign earnings. In any event, we firmly believe that the IRS’s positions in the Notices are without merit and we will vigorously contest the Notices through the judicial process. In addition, in 2020, we received an RAR and a modified RAR from the IRS for the years 2013, 2014 and 2015 also proposing significant adjustments that primarily relate to the allocation of profits between certain of our entities in the United States and the U.S. territory of Puerto Rico, similar to those proposed for the years 2010, 2011 and 2012. We disagree with the proposed adjustments and calculations and are pursuing resolution with the IRS administrative appeals office. We are currently under examination by the IRS for the years 2016, 2017 and 2018. We are also currently under examination by a number of other state and foreign tax jurisdictions. Final resolution of these complex matters is not likely within the next 12 months. We believe our accrual for income tax liabilities is appropriate based on past experience, interpretations of tax law, application of the tax law to our facts and judgments about potential actions by tax authorities; however, due to the complexity of the provision for income taxes and uncertain resolution of these matters, the ultimate outcome of any tax matters may result in payments substantially greater than amounts accrued and could have a material adverse impact on our condensed consolidated financial statements. We are no longer subject to U.S. federal income tax examinations for the years ended on or before December 31, 2009. During the three and six months ended June 30, 2021, the gross amounts of our unrecognized tax benefits (UTBs) increased $50 million and $110 million, respectively, as a result of tax positions taken during the current year. Substantially all of the UTBs as of June 30, 2021, if recognized, would affect our effective tax rate.

Earnings per share

Earnings per share	6 Months Ended
	Jun. 30, 2021
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 primarily include shares that may be issued under our stock option, restricted stock and performance unit award programs (collectively, dilutive securities), as determined by using the treasury stock method. The computations for basic and diluted EPS were as follows (in millions, except per-share data): Three months ended Six months ended 2021 2020 2021 2020 Income (Numerator): Net income for basic and diluted EPS $ 464 $ 1,803 $ 2,110 $ 3,628 Shares (Denominator): Weighted-average shares for basic EPS 573 588 575 589 Effect of dilutive securities 3 4 3 4 Weighted-average shares for diluted EPS 576 592 578 593 Basic EPS $ 0.81 $ 3.07 $ 3.67 $ 6.16 Diluted EPS $ 0.81 $ 3.05 $ 3.65 $ 6.12 For the three and six months ended June 30, 2021 and 2020, the number of antidilutive employee stock-based awards excluded from the computation of diluted EPS was not significant.

Investments

Investments	6 Months Ended
	Jun. 30, 2021
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 interest-bearing securities, which are considered available-for-sale, by type of security were as follows (in millions): Types of securities as of June 30, 2021 Amortized Gross Gross Fair U.S. Treasury notes $ 51 $ 1 $ — $ 52 U.S. Treasury bills 1,400 — — 1,400 Money market mutual funds 5,707 — — 5,707 Other short-term interest-bearing securities — — — — Total interest-bearing securities $ 7,158 $ 1 $ — $ 7,159 Types of securities as of December 31, 2020 Amortized Gross Gross Fair U.S. Treasury notes $ 129 $ 1 $ — $ 130 U.S. Treasury bills 4,948 — — 4,948 Money market mutual funds 4,765 — — 4,765 Other short-term interest-bearing securities 2 — — 2 Total interest-bearing securities $ 9,844 $ 1 $ — $ 9,845 The fair values of interest-bearing securities by location in the Condensed Consolidated Balance Sheets were as follows (in millions): Condensed Consolidated Balance Sheets locations June 30, 2021 December 31, 2020 Cash and cash equivalents $ 5,707 $ 5,464 Marketable securities 1,452 4,381 Total interest-bearing securities $ 7,159 $ 9,845 Cash and cash equivalents in the above table excludes bank account cash of $923 million and $802 million as of June 30, 2021 and December 31, 2020, respectively. The fair values of available-for-sale investments by contractual maturity were as follows (in millions): Contractual maturities June 30, 2021 December 31, 2020 Maturing in one year or less $ 7,159 $ 9,795 Maturing after one year through three years — 50 Total available-for-sale investments $ 7,159 $ 9,845 For the three and six months ended June 30, 2021 and 2020, realized gains and losses on interest-bearing securities were not material. Realized gains and losses on interest-bearing securities are recorded in Other income, net, in the Condensed Consolidated Statements of Income. The cost of securities sold is based on the specific-identification method. The primary objective of our investment portfolio is to maintain 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 investment-grade credit ratings, and it places restrictions on maturities and concentration by asset class and issuer. Equity securities We held investments in equity securities with readily determinable fair values (publicly traded securities) of $403 million and $477 million as of June 30, 2021 and December 31, 2020, respectively, which are included in Other assets in the Condensed Consolidated Balance Sheets. For the three months ended June 30, 2021 and 2020, net unrealized gains on publicly traded securities were $25 million and $80 million, respectively. For the six months ended June 30, 2021 and 2020, net unrealized gains and losses on publicly traded securities were a $31 million net loss and a $5 million net gain, respectively. Realized gains and losses on publicly traded securities for the three and six months ended June 30, 2021 and 2020, were not material. We held investments of $245 million and $203 million in equity securities without readily determinable fair values as of June 30, 2021 and December 31, 2020, respectively, which are included in Other assets in the Condensed Consolidated Balance Sheets. Gains and losses recognized on these securities, including adjustments to the carrying values of these securities, were not material for the three and six months ended June 30, 2021. Equity method investments Limited partnerships We held limited partnership investments of $616 million and $496 million as of June 30, 2021 and December 31, 2020, respectively, which are included in Other assets in the Condensed Consolidated Balance Sheets. These investments, primarily investment funds of early-stage biotechnology companies, are accounted for by using the equity method of accounting and are measured by using our proportionate share of the net asset values of the underlying investments held by the limited partnerships as a practical expedient. These investments are typically redeemable only through distributions upon liquidation of the underlying assets. As of June 30, 2021, unfunded additional commitments to be made for these investments during the next several years were not material. For the three months ended June 30, 2021 and 2020, net unrealized losses from our limited partnership investments were $43 million and $10 million, respectively. For the six months ended June 30, 2021 and 2020, net unrealized gains from our limited partnership investments were $165 million and $10 million, respectively. BeiGene, Ltd. As of June 30, 2021, we had an ownership interest of approximately 20.3% in BeiGene, Ltd. (BeiGene), which is included in Other assets in the Condensed Consolidated Balance Sheets and accounted for under the equity method of accounting. We amortize the difference between the fair value of equity securities acquired and our proportionate share of the carrying value of the underlying net assets of BeiGene over the useful lives of the assets that gave rise to this basis difference. This amortization and our share of the results of operations of BeiGene are included in Other income, net , in the Condensed Consolidated Statements of Income one quarter in arrears, which began in the second quarter of 2020. During the three and six months ended June 30, 2021, the carrying value of our equity investment was adjusted by our share of BeiGene’s net income of $14 million and net loss of $83 million, respectively, and amortization of the basis difference of $42 million and $84 million, respectively. In addition, during the three and six months ended June 30, 2021, the carrying value increased by $21 million and $38 million, respectively, from the impact of BeiGene ownership transactions. As of June 30, 2021, the carrying value and fair value of our investment in BeiGene totaled $2.8 billion and $6.4 billion, respectively. As of June 30, 2021, we believe the carrying value of our equity investment in BeiGene is fully recoverable.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2021
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consisted of the following (in millions): June 30, 2021 December 31, 2020 Raw materials $ 641 $ 486 Work in process 2,443 2,437 Finished goods 1,031 970 Total inventories $ 4,115 $ 3,893

Goodwill and other intangible a

Goodwill and other intangible assets	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and other intangible assets	Goodwill and other intangible assets Goodwill The change in the carrying amount of goodwill was as follows (in millions): Six months ended Beginning balance $ 14,689 Currency translation adjustment (13) Ending balance $ 14,676 Other intangible assets Other intangible assets consisted of the following (in millions): June 30, 2021 December 31, 2020 Gross Accumulated Other intangible Gross Accumulated Other intangible Finite-lived intangible assets: Developed-product-technology rights $ 25,584 $ (11,673) $ 13,911 $ 25,591 $ (10,564) $ 15,027 Licensing rights 3,766 (2,886) 880 3,743 (2,791) 952 Marketing-related rights 1,363 (1,079) 284 1,367 (1,041) 326 Research and development technology rights 1,308 (1,105) 203 1,317 (1,065) 252 Total finite-lived intangible assets 32,021 (16,743) 15,278 32,018 (15,461) 16,557 Indefinite-lived intangible assets: In-process research and development 30 — 30 30 — 30 Total other intangible assets $ 32,051 $ (16,743) $ 15,308 $ 32,048 $ (15,461) $ 16,587 Developed-product-technology rights consists of rights related to marketed products. Licensing rights primarily consists of contractual rights to receive future milestone, royalty and profit-sharing payments; capitalized payments to third parties for milestones related to regulatory approvals to commercialize products; and upfront payments associated with royalty obligations for marketed products. Marketing-related rights primarily consists of rights related to the sale and distribution of marketed products. Research and development (R&D) technology rights pertains to technologies used in R&D that have alternative future uses. 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. We review IPR&D projects for impairment annually, whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable and upon the establishment of technological feasibility or regulatory approval. During the three months ended June 30, 2021 and 2020, we recognized amortization associated with our finite-lived intangible assets of $652 million and $713 million, respectively. During the six months ended June 30, 2021 and 2020, we recognized amortization associated with our finite-lived intangible assets of $1.3 billion and $1.4 billion, respectively. Amortization of intangible assets is primarily included in Cost of sales in the Condensed Consolidated Statements of Income. The total estimated amortization for our finite-lived intangible assets for the remaining six months ending December 31, 2021, and the years ending December 31, 2022, 2023, 2024, 2025 and 2026, are $1.2 billion, $2.5 billion, $2.4 billion, $2.4 billion, $2.2 billion and $1.8 billion, respectively.

Financing arrangements

Financing arrangements	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Financing arrangements	Our borrowings consisted of the following (in millions): June 30, 2021 December 31, 2020 1.25% €1,250 million notes due 2022 (1.25% 2022 euro Notes) $ 1,482 $ 1,527 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) 757 791 2.25% notes due 2023 (2.25% 2023 Notes) 750 750 3.625% notes due 2024 (3.625% 2024 Notes) 1,400 1,400 1.90% notes due 2025 (1.90% 2025 Notes) 500 500 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) 889 916 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) 657 649 2.20% notes due 2027 (2.20% 2027 Notes) 1,750 1,750 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) 968 957 2.45% notes due 2030 (2.45% 2030 Notes) 1,250 1,250 2.30% notes due 2031 (2.30% 2031 Notes) 1,250 1,250 6.375% notes due 2037 (6.375% 2037 Notes) 478 478 6.90% notes due 2038 (6.90% 2038 Notes) 254 254 6.40% notes due 2039 (6.40% 2039 Notes) 333 333 3.15% notes due 2040 (3.15% 2040 Notes) 2,000 2,000 5.75% notes due 2040 (5.75% 2040 Notes) 373 373 4.95% notes due 2041 (4.95% 2041 Notes) 600 600 5.15% notes due 2041 (5.15% 2041 Notes) 729 729 5.65% notes due 2042 (5.65% 2042 Notes) 415 415 5.375% notes due 2043 (5.375% 2043 Notes) 185 185 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 3.375% notes due 2050 (3.375% 2050 Notes) 2,250 2,250 4.663% notes due 2051 (4.663% 2051 Notes) 3,541 3,541 2.77% notes due 2053 (2.77% 2053 Notes) 940 940 Other notes due 2097 100 100 Unamortized bond discounts, premiums and issuance costs, net (1,174) (1,188) Fair value adjustments 424 566 Other 16 5 Total carrying value of debt 32,782 32,986 Less current portion (4,324) (91) Total long-term debt $ 28,458 $ 32,895 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, the 4.663% 2051 Notes and the 2.77% 2053 Notes, which have effective interest rates of 6.3%, 5.6% and 5.2%, respectively. During the three months ended June 30, 2021, we entered into the following interest rate swap contracts: (i) $1.0 billion notional amount with respect to the 2.45% 2030 Notes, resulting in an effective interest rate of three-month LIBOR plus 1.0% for that portion of the notes, and (ii) $500 million notional amount with respect to the 2.30% 2031 Notes, resulting in an effective interest rate of three-month LIBOR plus 0.8% for that portion of the notes.

Stockholders' equity

Stockholders' equity	6 Months Ended
	Jun. 30, 2021
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): 2021 2020 Shares Dollars Shares Dollars First quarter 3.7 $ 865 4.3 $ 933 Second quarter 6.5 1,592 2.6 591 Total stock repurchases 10.2 $ 2,457 6.9 $ 1,524 In March 2021, our Board of Directors increased the amount authorized under our stock repurchase program by an additional $3.4 billion. As of June 30, 2021, $3.9 billion of authorization remained available under our stock repurchase program. Dividends In March 2021 and December 2020, the Board of Directors declared a quarterly cash dividend of $1.76 per share, which were paid in June 2021 and March 2021, respectively. In July 2021, the Board of Directors declared a quarterly cash dividend of $1.76 per share, which will be paid on September 8, 2021. Accumulated other comprehensive income (loss) The components of Accumulated other comprehensive income (loss) (AOCI) were as follows (in millions): Foreign Cash flow Available-for-sale Other AOCI Balance as of December 31, 2020 $ (709) $ (263) $ 1 $ (14) $ (985) Foreign currency translation adjustments (39) — — — (39) Unrealized gains — 108 — — 108 Reclassification adjustments to income — 133 — — 133 Other — — — 1 1 Income taxes — (51) — — (51) Balance as of March 31, 2021 (748) (73) 1 (13) (833) Foreign currency translation adjustments 14 — — — 14 Unrealized losses — (31) — — (31) Reclassification adjustments to income — (28) — — (28) Other — — — (1) (1) Income taxes — 11 — — 11 Balance as of June 30, 2021 $ (734) $ (121) $ 1 $ (14) $ (868) Reclassifications out of AOCI and into earnings, including related income tax expenses, were as follows (in millions): Three months ended June 30, Components of AOCI 2021 2020 Condensed Consolidated Cash flow hedges: Foreign currency contract (losses) gains $ (18) $ 68 Product sales Cross-currency swap contract gains 46 51 Other income, net 28 119 Income before income taxes (6) (26) Provision for income taxes $ 22 $ 93 Net income Available-for-sale securities: Net realized gains $ — $ — Other income, net — — Provision for income taxes $ — $ — Net income Six months ended June 30, Components of AOCI 2021 2020 Condensed Consolidated Cash flow hedges: Foreign currency contract (losses) gains $ (19) $ 117 Product sales Cross-currency swap contract losses (86) (82) Other income, net (105) 35 Income before income taxes 22 (8) Provision for income taxes $ (83) $ 27 Net income Available-for-sale securities: Net realized gains $ — $ 33 Other income, net — (7) Provision for income taxes $ — $ 26 Net income

Fair value measurement

Fair value measurement	6 Months Ended
	Jun. 30, 2021
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 different 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 Significant Fair value measurement as of June 30, 2021, using: Total Assets: Available-for-sale securities: U.S. Treasury notes $ 52 $ — $ — $ 52 U.S. Treasury bills 1,400 — — 1,400 Money market mutual funds 5,707 — — 5,707 Other short-term interest-bearing securities — — — — Equity securities 403 — — 403 Derivatives: Foreign currency contracts — 62 — 62 Cross-currency swap contracts — 182 — 182 Interest rate swap contracts — 45 — 45 Total assets $ 7,562 $ 289 $ — $ 7,851 Liabilities: Derivatives: Foreign currency contracts $ — $ 119 $ — $ 119 Cross-currency swap contracts — 305 — 305 Interest rate swap contracts — 90 — 90 Contingent consideration obligations — — 48 48 Total liabilities $ — $ 514 $ 48 $ 562 Quoted prices in Significant Significant Fair value measurement as of December 31, 2020, using: Total Assets: Available-for-sale securities: U.S. Treasury notes $ 130 $ — $ — $ 130 U.S. Treasury bills 4,948 — — 4,948 Money market mutual funds 4,765 — — 4,765 Other short-term interest-bearing securities — 2 — 2 Equity securities 477 — — 477 Derivatives: Foreign currency contracts — 28 — 28 Cross-currency swap contracts — 255 — 255 Interest rate swap contracts — 66 — 66 Total assets $ 10,320 $ 351 $ — $ 10,671 Liabilities: Derivatives: Foreign currency contracts $ — $ 237 $ — $ 237 Cross-currency swap contracts — 318 — 318 Interest rate swap contracts — 15 — 15 Contingent consideration obligations — — 33 33 Total liabilities $ — $ 570 $ 33 $ 603 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. Derivatives All of our foreign currency forward derivative contracts have maturities of three years or less, and all are with counterparties that have minimum credit ratings of A– or equivalent by Standard & Poor’s Financial Services LLC (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch Ratings, Inc. (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 and obligor credit default swap rates. In addition, inputs for our foreign currency option contracts include implied volatility measures. These inputs, when applicable, are at commonly quoted intervals. See Note 12, Derivative instruments. Our cross-currency swap contracts are with counterparties that have minimum credit ratings of A– or equivalent by S&P, Moody’s or Fitch. We 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 12, Derivative instruments. Our interest rate swap contracts are with counterparties that have minimum credit ratings of A– or equivalent by S&P, Moody’s or Fitch. We 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 12, Derivative instruments. During the three and six months ended June 30, 2021 and 2020, 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 June 30, 2021 and December 31, 2020, the aggregate fair values of our borrowings were $37.9 billion and $39.4 billion, respectively, and the carrying values were $32.8 billion and $33.0 billion, respectively.

Derivative instruments

Derivative instruments	6 Months Ended
	Jun. 30, 2021
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, 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 primarily associated 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 partially offset 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 contracts to hedge a portion of our projected international product sales up to a maximum of three years into the future, and at any given point in time, a higher percentage of nearer-term projected product sales are being hedged than in successive periods. As of June 30, 2021 and December 31, 2020, we had outstanding foreign currency forward contracts with aggregate notional amounts of $5.2 billion and $5.1 billion, respectively. We have designated these foreign currency forward contracts, which are primarily euro based, as cash flow hedges. Accordingly, we report the unrealized gains and losses on these contracts in AOCI in the Condensed Consolidated Balance Sheets, and we reclassify them to Product sales in the Condensed Consolidated Statements of Income 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 unrealized gains and losses on these contracts are reported in AOCI in the Condensed Consolidated Balance Sheets and reclassified to Other income, net, in the Condensed Consolidated Statements of Income in the same periods during which the hedged debt affects earnings. The notional amounts and interest rates of our cross-currency swaps as of June 30, 2021, were as follows (notional amounts in millions): Foreign currency U.S. dollars Hedged notes Notional amounts Interest rates Notional amounts Interest rates 1.25% 2022 euro Notes € 1,250 1.3 % $ 1,388 3.2 % 0.41% 2023 Swiss franc Bonds CHF 700 0.4 % $ 704 3.4 % 2.00% 2026 euro Notes € 750 2.0 % $ 833 3.9 % 5.50% 2026 pound sterling Notes £ 475 5.5 % $ 747 6.0 % 4.00% 2029 pound sterling Notes £ 700 4.0 % $ 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 Interest expense, net, in the Condensed Consolidated Statements of Income over the lives of the associated debt issuances. Amounts recognized in connection with forward interest rate swaps during the six months ended June 30, 2021, and amounts expected to be recognized during the subsequent 12 months are not material. The unrealized gains and losses recognized in AOCI for our derivative instruments designated as cash flow hedges were as follows (in millions): Three months ended Six months ended Derivatives in cash flow hedging relationships 2021 2020 2021 2020 Foreign currency contracts $ (46) $ (101) $ 137 $ 138 Cross-currency swap contracts 15 71 (60) (330) Total unrealized (losses) gains $ (31) $ (30) $ 77 $ (192) 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. These interest rate swap contracts effectively convert fixed-rate coupons to floating-rate LIBOR-based coupons over the terms of the related hedge contracts. As of June 30, 2021 and December 31, 2020, we had interest rate swap contracts with aggregate notional amounts of $7.4 billion and $5.9 billion, respectively, that hedge certain portions of our long-term debt issuances. During the three months ended June 30, 2021, we entered into $1.5 billion of interest rate swap contracts to hedge portions of our 2.45% 2030 Notes and 2.30% 2031 Notes (see Note 9, Financing arrangements). For interest rate swap contracts 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. If a hedging relationship involving an interest rate swap contract is terminated, the gain or loss realized on contract termination is recorded as an adjustment to the carrying value of the debt and amortized into Interest expense, net, over the remaining life of the previously hedged debt. The hedged liabilities and related cumulative-basis adjustments for fair value hedges of those liabilities were recorded in the Condensed Consolidated Balance Sheets as follows (in millions): Carrying amounts of hedged liabilities (1) Cumulative amounts of fair value hedging adjustments related to the carrying amounts of the hedged liabilities (2) Condensed Consolidated Balance Sheets locations June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 Current portion of long-term debt $ 844 $ 89 $ 94 $ 89 Long-term debt $ 6,857 $ 6,258 $ 330 $ 477 ____________ (1) Current portion of long-term debt includes $89 million of carrying value with discontinued hedging relationships as of both June 30, 2021 and December 31, 2020. Long-term debt includes $481 million and $525 million of carrying value with discontinued hedging relationships as of June 30, 2021 and December 31, 2020, respectively. (2) Current portion of long-term debt includes $89 million of hedging adjustments on discontinued hedging relationships as of both June 30, 2021 and December 31, 2020. Long-term debt includes $381 million and $425 million of hedging adjustments on discontinued hedging relationships as of June 30, 2021 and December 31, 2020, respectively. Impact of hedging transactions The following tables summarize the amounts recorded in income and expense line items and the effects thereon from fair value and cash flow hedging, including discontinued hedging relationships (in millions): Three months ended June 30, 2021 Six months ended June 30, 2021 Product sales Other income, net Interest expense, net Product sales Other income, net Interest expense, net Total amounts recorded in income and (expense) line items presented in the Condensed Consolidated Statements of Income $ 6,114 $ 11 $ (281) $ 11,706 $ 24 $ (566) The effects of cash flow and fair value hedging: (Losses) gains on cash flow hedging relationships reclassified out of AOCI: Foreign currency contracts $ (18) $ — $ — $ (19) $ — $ — Cross-currency swap contracts $ — $ 46 $ — $ — $ (86) $ — (Losses) gains on fair value hedging relationships—interest rate swap agreements: Hedged items (1) $ — $ — $ (34) $ — $ — $ 141 Derivatives designated as hedging instruments $ — $ — $ 55 $ — $ — $ (97) Three months ended June 30, 2020 Six months ended June 30, 2020 Product sales Other income, net Interest expense, net Product sales Other income, net Interest expense, net Total amounts recorded in income and (expense) line items presented in the Condensed Consolidated Statements of Income $ 5,908 $ 3 $ (296) $ 11,802 $ 14 $ (642) The effects of cash flow and fair value hedging: Gains (losses) on cash flow hedging relationships reclassified out of AOCI: Foreign currency contracts $ 68 $ — $ — $ 117 $ — $ — Cross-currency swap contracts $ — $ 51 $ — $ — $ (82) $ — (Losses) gains on fair value hedging relationships—interest rate swap agreements: Hedged items (1) $ — $ — $ (30) $ — $ — $ 180 Derivatives designated as hedging instruments $ — $ — $ 53 $ — $ — $ (137) __________ (1) Gains on hedged items do not exactly offset losses on the related designated hedging instruments due to amortization of the cumulative amounts of fair value hedging adjustments included in the carrying amount of the hedged debt for discontinued hedging relationships and the recognition of gains on terminated hedges when the corresponding hedged item was paid down in the period. No portions of our cash flow hedge contracts were excluded from the assessment of hedge effectiveness. As of June 30, 2021, the net gains expected to be reclassified on our foreign currency and cross-currency swap contracts out of AOCI and into earnings during the next 12 months are not material. Derivatives not designated as hedges To reduce our exposure to foreign currency fluctuations in certain assets and liabilities denominated in foreign currencies, we enter into foreign currency forward contracts that are not designated as hedging transactions. Most of these exposures are hedged on a month-to-month basis. As of June 30, 2021 and December 31, 2020, the total notional amounts of these foreign currency forward contracts were $0.8 billion and $1.0 billion, respectively. Gains and losses recognized in earnings for our derivative instruments not designated as hedging instruments were not material for the three and six months ended June 30, 2021 and 2020. The fair values of derivatives included in the Condensed Consolidated Balance Sheets were as follows (in millions): Derivative assets Derivative liabilities June 30, 2021 Condensed Consolidated Fair values Condensed Consolidated Fair values Derivatives designated as hedging instruments: Foreign currency contracts Other current assets/ Other assets $ 62 Accrued liabilities/ Other noncurrent liabilities $ 119 Cross-currency swap contracts Other current assets/ Other assets 182 Accrued liabilities/ Other noncurrent liabilities 305 Interest rate swap contracts Other current assets/ Other assets 45 Accrued liabilities/ Other noncurrent liabilities 90 Total derivatives designated as hedging instruments $ 289 $ 514 Derivative assets Derivative liabilities December 31, 2020 Condensed Consolidated Fair values Condensed Consolidated Fair values Derivatives designated as hedging instruments: Foreign currency contracts Other current assets/ Other assets $ 28 Accrued liabilities/ Other noncurrent liabilities $ 237 Cross-currency swap contracts Other current assets/ Other assets 255 Accrued liabilities/ Other noncurrent liabilities 318 Interest rate swap contracts Other current assets/ Other assets 66 Accrued liabilities/ Other noncurrent liabilities 15 Total derivatives designated as hedging instruments $ 349 $ 570 Our derivative contracts that were in liability positions as of June 30, 2021, 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 in the Condensed Consolidated Statements of Cash Flows are included in Net cash provided by operating activities, except for the settlement of notional amounts of cross-currency swaps, which are included in Net cash used in financing activities.

Contingencies and commitments

Contingencies and commitments	6 Months Ended
	Jun. 30, 2021
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, 2020, 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; in Note 19, Contingencies and commitments, to the consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2020; and in Note 12, Contingencies and commitments, to the condensed consolidated financial statements in our Quarterly Report on Form 10-Q for the period ended March 31, 2021. 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, some of which present novel factual allegations and/or unique legal theories. In each of the matters described in this filing; in Note 19, Contingencies and commitments, to the consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2020; or in Note 12, Contingencies and commitments, to the condensed consolidated financial statements in our Quarterly Report on Form 10-Q for the period ended March 31, 2021, in which we could incur a liability, our opponents 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 described in this filing; in Note 19, Contingencies and commitments, to the consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2020; or in Note 12, Contingencies and commitments, to the condensed consolidated financial statements in our Quarterly Report on Form 10-Q for the period ended March 31, 2021, in which we could incur a liability, 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: Abbreviated New Drug Application (ANDA) Patent Litigation Otezla ® ANDA Patent Litigation Amgen Inc. v. Sandoz Inc., et al. On May 5, 2021, based on a joint request by Amgen and Cipla Limited (Cipla Ltd), the U.S. District Court for the District of New Jersey (the New Jersey District Court) entered a consent judgment and injunction prohibiting the making, using, selling, offering to sell, or importing of Cipla Ltd’s apremilast product during the term of U.S. Patent Nos. 6,962,940 (the ’940 Patent); 7,427,638 (the ’638 Patent), 7,659,302 (the ’302 Patent), 8,455,536 (the ’536 Patent), 9,724,330 (the ’330 Patent) and 10,092,541 (the ’541 Patent), unless authorized pursuant to a confidential settlement agreement. On May 14, 2021, based on a joint request by Amgen and Torrent Pharmaceuticals Ltd. (Torrent), the New Jersey District Court entered a consent judgment and injunction prohibiting the making, using, selling, offering to sell, or importing of Torrent’s apremilast product during the term of the U.S. Patent Nos. 7,893,101 (the ’101 Patent), 9,872,854 (the ’854 Patent) and the ’638 and ’541 Patents, unless authorized pursuant to a confidential settlement agreement. On May 19, 2021, based on a joint request by Amgen and Alkem Laboratories Ltd. (Alkem), the New Jersey District Court entered a consent judgment and injunction prohibiting the making, using, selling, offering to sell, or importing of Alkem’s apremilast product during the term of the ’940, ’638, ’302, ’536, ’330 and ’541 Patents, unless authorized pursuant to a confidential settlement agreement. On May 25, 2021, based on a joint request by Amgen and MSN Laboratories Private Limited (MSN), the New Jersey District Court entered a consent judgment and injunction prohibiting the making, using, selling, offering to sell, or importing of MSN’s apremilast product during the term of the ’940, ’638, ’302, ’536, ’330 and ’541 Patents, unless authorized pursuant to a confidential settlement agreement. On June 11, 2021, based on a joint request by Amgen and Pharmascience Inc. (Pharmascience), the New Jersey District Court entered a consent judgment and injunction prohibiting the making, using, selling, offering to sell, or importing of Pharmascience’s apremilast product during the term of U.S. Patent No. 9,018,243 (the ’243 Patent) and the ’940, ’638, ’302, ’101, ’536, ’330 and ’541 Patents, unless authorized pursuant to a confidential settlement agreement. On June 17, 2021, based on a joint request by Amgen and Dr. Reddy’s Laboratories, Ltd. and Dr. Reddy’s Laboratories, Inc. (collectively, DRL) , the New Jersey District Court entered a consent judgment and injunction prohibiting the making, using, selling, offering to sell, or importing of DRL’s apremilast product during the term of the ’638, ’101, ’536 and ’541 Patents, unless authorized pursuant to a confidential settlement agreement. Trial on the consolidated patent infringement action was held at the New Jersey District Court from June 14 to 25, 2021 with closing arguments on July 28, 2021. The remaining defendants are Sandoz Inc. and Zydus Pharmaceuticals (USA) Inc. ENBREL Patent Litigation Immunex Corporation, et al. v. Sandoz Inc., et al. On May 17, 2021, the U.S. Supreme Court denied the petition of Sandoz Inc., Sandoz International GmbH and Sandoz GmbH for certiorari seeking review of the Federal Circuit Court’s affirmance of the validity of U.S. Patent Nos. 8,063,182 and 8,163,522. Repatha ® Patent Litigation Amgen Inc., et al. v. Sanofi, et al. On June 21, 2021, the Federal Circuit Court denied our petition for rehearing en banc of the Federal Circuit Court’s ruling that claims 19 and 29 of our U.S. Patent No. 8,829,165 and claim 7 of our U.S. Patent No. 8,859,741 are invalid for failing to meet the enablement requirement. NEUPOGEN ® (filgrastim)/Neulasta ® Patent Litigation Amgen Inc., et al. v. Hospira Inc. et al. On June 11, 2021, after having held a claim construction hearing, the U.S. District Court for the District of Delaware (Delaware District Court) determined that the term at issue required no construction, and on July 14, the Delaware District Court set a briefing schedule for summary judgment motions. Patent Trial and Appeal Board (PTAB) Challenge Lupin PTAB Challenge On July 12, 2021, the PTAB of the U.S. Patent and Trademark Office issued a decision denying institution of Lupin Limited’s petition for inter partes review of U.S. Patent No. 9,856,287. Apotex PTAB Challenge On June 21, 2021, the U.S. Supreme Court decided United States v. Arthrex, Inc. On June 28, 2021, the Supreme Court granted the government’s pending certiorari petition and vacated and remanded the Federal Circuit Court’s judgment for further consideration under Arthrex. Breach of Contract Action Novartis Pharma AG v. Amgen Inc. On June 2, 2021, the parties executed agreements to settle two claims in the litigation, relating to the 2018 budget overrun dispute and certain counterclaims alleging breaches by Novartis Pharma AG (Novartis) of the 2015 and 2017 collaboration agreements related to the development and commercialization of Aimovig ® (erenumab-aooe), and to amend and restate the 2017 collaboration agreement. As part of the agreement, Amgen paid $48 million to Novartis to resolve the 2018 budget dispute, and Novartis is in the process of transitioning U.S. commercial operations to Amgen. Antitrust Class Action Sensipar ® (cinacalcet) Antitrust Class Actions On April 27, 2021, plaintiffs filed their oppositions to defendants’ (including Amgen’s) motion to dismiss, and defendants’ reply was filed on May 25, 2021. A hearing on defendants’ motion to dismiss was held in the Delaware District Court on July 13, 2021. U.S. Tax Litigation Amgen Inc. & Subsidiaries v. Commissioner of Internal Revenue See Note 4, Income taxes, for discussion of the IRS tax dispute and the Company’s petition in the U.S. Tax Court.

Subsequent events

Subsequent events	6 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
Subsequent events	Subsequent eventsOn June 1, 2021, Amgen and Kyowa Kirin Co., Ltd. (KKC) announced a collaboration and licensing agreement to jointly develop and commercialize KHK4083, an anti-OX40 fully human monoclonal antibody, worldwide, except in Japan. The transaction closed on July 30, 2021, upon expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. Amgen will make an upfront payment of $400 million to KKC, to be recognized as R&D expense in the third quarter of 2021.

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Business	Business Amgen Inc. (including its subsidiaries, referred to as “Amgen,” “the Company,” “we,” “our” or “us”) is a global biotechnology pioneer that discovers, develops, manufactures and delivers innovative human therapeutics. We operate in one business segment: human therapeutics.
Basis of presentation	Basis of presentation The financial information for the three and six months ended June 30, 2021 and 2020, 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, 2020, and with our condensed consolidated financial statements and the notes thereto contained in our Quarterly Report on Form 10-Q for the period ended March 31, 2021.
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 $9.1 billion and $9.0 billion as of June 30, 2021 and December 31, 2020, respectively.
Other recent accounting pronouncements	Recent accounting pronouncements In March 2020, the Financial Accounting Standards Board (FASB) issued a new accounting standard to ease the financial reporting burdens caused by the expected market transition from the London Interbank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates, commonly referred to as reference rate reform . The new standard provides temporary optional expedients and exceptions to current GAAP guidance on contract modifications and hedge accounting. Specifically, a modification to transition to an alternative reference rate is treated as an event that does not require contract remeasurement or reassessment of a previous accounting treatment. Moreover, for all types of hedging relationships, an entity is permitted to change the reference rate without having to dedesignate the hedging relationship. The standard is generally effective for all contract modifications made and hedging relationships evaluated through December 31, 2022. In January 2021, the FASB issued a new accounting standard to expand on the scope of the original March 2020 standard to include derivative instruments on discounting transactions. We are currently evaluating the impact that both standards will have on our condensed consolidated financial statements.

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of revenue by product and by geographic area	Revenues were as follows (in millions): Three months ended June 30, 2021 2020 U.S. ROW Total U.S. ROW Total Enbrel ® (etanercept) $ 1,113 $ 31 $ 1,144 $ 1,213 $ 33 $ 1,246 Prolia ® (denosumab) 538 276 814 441 218 659 Otezla ® (apremilast) 423 111 534 464 97 561 Neulasta ® (pegfilgrastim) 434 52 486 520 73 593 XGEVA ® (denosumab) 355 133 488 318 117 435 Aranesp ® (darbepoetin alfa) 135 232 367 156 231 387 Repatha ® (evolocumab) 143 143 286 115 85 200 KYPROLIS ® (carfilzomib) 190 90 280 167 86 253 Other products 1,043 672 1,715 1,034 540 1,574 Total product sales (1) $ 4,374 $ 1,740 6,114 $ 4,428 $ 1,480 5,908 Other revenues 412 298 Total revenues $ 6,526 $ 6,206 Six months ended June 30, 2021 2020 U.S. ROW Total U.S. ROW Total ENBREL $ 2,007 $ 61 $ 2,068 $ 2,330 $ 69 $ 2,399 Prolia ® 1,039 533 1,572 863 450 1,313 Otezla ® 789 221 1,010 841 199 1,040 Neulasta ® 855 113 968 1,054 148 1,202 XGEVA ® 689 267 956 673 243 916 Aranesp ® 260 462 722 331 478 809 Repatha ® 282 290 572 239 190 429 KYPROLIS ® 349 182 531 354 179 533 Other products 2,007 1,300 3,307 2,022 1,139 3,161 Total product sales (1) $ 8,277 $ 3,429 11,706 $ 8,707 $ 3,095 11,802 Other revenues 721 565 Total revenues $ 12,427 $ 12,367 ____________

Earnings per share (Tables)

Earnings per share (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Computation for basic and diluted earnings per share	The computations for basic and diluted EPS were as follows (in millions, except per-share data): Three months ended Six months ended 2021 2020 2021 2020 Income (Numerator): Net income for basic and diluted EPS $ 464 $ 1,803 $ 2,110 $ 3,628 Shares (Denominator): Weighted-average shares for basic EPS 573 588 575 589 Effect of dilutive securities 3 4 3 4 Weighted-average shares for diluted EPS 576 592 578 593 Basic EPS $ 0.81 $ 3.07 $ 3.67 $ 6.16 Diluted EPS $ 0.81 $ 3.05 $ 3.65 $ 6.12

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2021
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 interest-bearing securities, which are considered available-for-sale, by type of security were as follows (in millions): Types of securities as of June 30, 2021 Amortized Gross Gross Fair U.S. Treasury notes $ 51 $ 1 $ — $ 52 U.S. Treasury bills 1,400 — — 1,400 Money market mutual funds 5,707 — — 5,707 Other short-term interest-bearing securities — — — — Total interest-bearing securities $ 7,158 $ 1 $ — $ 7,159 Types of securities as of December 31, 2020 Amortized Gross Gross Fair U.S. Treasury notes $ 129 $ 1 $ — $ 130 U.S. Treasury bills 4,948 — — 4,948 Money market mutual funds 4,765 — — 4,765 Other short-term interest-bearing securities 2 — — 2 Total interest-bearing securities $ 9,844 $ 1 $ — $ 9,845
Fair values of available-for-sale investments by classification in the Consolidated Balance Sheets	The fair values of interest-bearing securities by location in the Condensed Consolidated Balance Sheets were as follows (in millions): Condensed Consolidated Balance Sheets locations June 30, 2021 December 31, 2020 Cash and cash equivalents $ 5,707 $ 5,464 Marketable securities 1,452 4,381 Total interest-bearing securities $ 7,159 $ 9,845
Fair values of available-for-sale interest-bearing security investments by contractual maturity	The fair values of available-for-sale investments by contractual maturity were as follows (in millions): Contractual maturities June 30, 2021 December 31, 2020 Maturing in one year or less $ 7,159 $ 9,795 Maturing after one year through three years — 50 Total available-for-sale investments $ 7,159 $ 9,845

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2021
Inventory Disclosure [Abstract]
Inventories	Inventories consisted of the following (in millions): June 30, 2021 December 31, 2020 Raw materials $ 641 $ 486 Work in process 2,443 2,437 Finished goods 1,031 970 Total inventories $ 4,115 $ 3,893

Goodwill and other intangible_2

Goodwill and other intangible assets (Tables)	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill	The change in the carrying amount of goodwill was as follows (in millions): Six months ended Beginning balance $ 14,689 Currency translation adjustment (13) Ending balance $ 14,676
Schedule of identifiable intangible assets	Other intangible assets consisted of the following (in millions): June 30, 2021 December 31, 2020 Gross Accumulated Other intangible Gross Accumulated Other intangible Finite-lived intangible assets: Developed-product-technology rights $ 25,584 $ (11,673) $ 13,911 $ 25,591 $ (10,564) $ 15,027 Licensing rights 3,766 (2,886) 880 3,743 (2,791) 952 Marketing-related rights 1,363 (1,079) 284 1,367 (1,041) 326 Research and development technology rights 1,308 (1,105) 203 1,317 (1,065) 252 Total finite-lived intangible assets 32,021 (16,743) 15,278 32,018 (15,461) 16,557 Indefinite-lived intangible assets: In-process research and development 30 — 30 30 — 30 Total other intangible assets $ 32,051 $ (16,743) $ 15,308 $ 32,048 $ (15,461) $ 16,587

Financing arrangements (Tables)

Financing arrangements (Tables)	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Schedule of borrowings	Our borrowings consisted of the following (in millions): June 30, 2021 December 31, 2020 1.25% €1,250 million notes due 2022 (1.25% 2022 euro Notes) $ 1,482 $ 1,527 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) 757 791 2.25% notes due 2023 (2.25% 2023 Notes) 750 750 3.625% notes due 2024 (3.625% 2024 Notes) 1,400 1,400 1.90% notes due 2025 (1.90% 2025 Notes) 500 500 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) 889 916 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) 657 649 2.20% notes due 2027 (2.20% 2027 Notes) 1,750 1,750 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) 968 957 2.45% notes due 2030 (2.45% 2030 Notes) 1,250 1,250 2.30% notes due 2031 (2.30% 2031 Notes) 1,250 1,250 6.375% notes due 2037 (6.375% 2037 Notes) 478 478 6.90% notes due 2038 (6.90% 2038 Notes) 254 254 6.40% notes due 2039 (6.40% 2039 Notes) 333 333 3.15% notes due 2040 (3.15% 2040 Notes) 2,000 2,000 5.75% notes due 2040 (5.75% 2040 Notes) 373 373 4.95% notes due 2041 (4.95% 2041 Notes) 600 600 5.15% notes due 2041 (5.15% 2041 Notes) 729 729 5.65% notes due 2042 (5.65% 2042 Notes) 415 415 5.375% notes due 2043 (5.375% 2043 Notes) 185 185 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 3.375% notes due 2050 (3.375% 2050 Notes) 2,250 2,250 4.663% notes due 2051 (4.663% 2051 Notes) 3,541 3,541 2.77% notes due 2053 (2.77% 2053 Notes) 940 940 Other notes due 2097 100 100 Unamortized bond discounts, premiums and issuance costs, net (1,174) (1,188) Fair value adjustments 424 566 Other 16 5 Total carrying value of debt 32,782 32,986 Less current portion (4,324) (91) Total long-term debt $ 28,458 $ 32,895

Stockholders' equity (Tables)

Stockholders' equity (Tables)	6 Months Ended
	Jun. 30, 2021
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): 2021 2020 Shares Dollars Shares Dollars First quarter 3.7 $ 865 4.3 $ 933 Second quarter 6.5 1,592 2.6 591 Total stock repurchases 10.2 $ 2,457 6.9 $ 1,524
Components of accumulated other comprehensive income	The components of Accumulated other comprehensive income (loss) (AOCI) were as follows (in millions): Foreign Cash flow Available-for-sale Other AOCI Balance as of December 31, 2020 $ (709) $ (263) $ 1 $ (14) $ (985) Foreign currency translation adjustments (39) — — — (39) Unrealized gains — 108 — — 108 Reclassification adjustments to income — 133 — — 133 Other — — — 1 1 Income taxes — (51) — — (51) Balance as of March 31, 2021 (748) (73) 1 (13) (833) Foreign currency translation adjustments 14 — — — 14 Unrealized losses — (31) — — (31) Reclassification adjustments to income — (28) — — (28) Other — — — (1) (1) Income taxes — 11 — — 11 Balance as of June 30, 2021 $ (734) $ (121) $ 1 $ (14) $ (868)
Reclassifications out of accumulated other comprehensive income	Reclassifications out of AOCI and into earnings, including related income tax expenses, were as follows (in millions): Three months ended June 30, Components of AOCI 2021 2020 Condensed Consolidated Cash flow hedges: Foreign currency contract (losses) gains $ (18) $ 68 Product sales Cross-currency swap contract gains 46 51 Other income, net 28 119 Income before income taxes (6) (26) Provision for income taxes $ 22 $ 93 Net income Available-for-sale securities: Net realized gains $ — $ — Other income, net — — Provision for income taxes $ — $ — Net income Six months ended June 30, Components of AOCI 2021 2020 Condensed Consolidated Cash flow hedges: Foreign currency contract (losses) gains $ (19) $ 117 Product sales Cross-currency swap contract losses (86) (82) Other income, net (105) 35 Income before income taxes 22 (8) Provision for income taxes $ (83) $ 27 Net income Available-for-sale securities: Net realized gains $ — $ 33 Other income, net — (7) Provision for income taxes $ — $ 26 Net income

Fair value measurement (Tables)

Fair value measurement (Tables)	6 Months Ended
	Jun. 30, 2021
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 Significant Fair value measurement as of June 30, 2021, using: Total Assets: Available-for-sale securities: U.S. Treasury notes $ 52 $ — $ — $ 52 U.S. Treasury bills 1,400 — — 1,400 Money market mutual funds 5,707 — — 5,707 Other short-term interest-bearing securities — — — — Equity securities 403 — — 403 Derivatives: Foreign currency contracts — 62 — 62 Cross-currency swap contracts — 182 — 182 Interest rate swap contracts — 45 — 45 Total assets $ 7,562 $ 289 $ — $ 7,851 Liabilities: Derivatives: Foreign currency contracts $ — $ 119 $ — $ 119 Cross-currency swap contracts — 305 — 305 Interest rate swap contracts — 90 — 90 Contingent consideration obligations — — 48 48 Total liabilities $ — $ 514 $ 48 $ 562 Quoted prices in Significant Significant Fair value measurement as of December 31, 2020, using: Total Assets: Available-for-sale securities: U.S. Treasury notes $ 130 $ — $ — $ 130 U.S. Treasury bills 4,948 — — 4,948 Money market mutual funds 4,765 — — 4,765 Other short-term interest-bearing securities — 2 — 2 Equity securities 477 — — 477 Derivatives: Foreign currency contracts — 28 — 28 Cross-currency swap contracts — 255 — 255 Interest rate swap contracts — 66 — 66 Total assets $ 10,320 $ 351 $ — $ 10,671 Liabilities: Derivatives: Foreign currency contracts $ — $ 237 $ — $ 237 Cross-currency swap contracts — 318 — 318 Interest rate swap contracts — 15 — 15 Contingent consideration obligations — — 33 33 Total liabilities $ — $ 570 $ 33 $ 603

Derivative instruments (Tables)

Derivative instruments (Tables)	6 Months Ended
	Jun. 30, 2021
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 June 30, 2021, were as follows (notional amounts in millions): Foreign currency U.S. dollars Hedged notes Notional amounts Interest rates Notional amounts Interest rates 1.25% 2022 euro Notes € 1,250 1.3 % $ 1,388 3.2 % 0.41% 2023 Swiss franc Bonds CHF 700 0.4 % $ 704 3.4 % 2.00% 2026 euro Notes € 750 2.0 % $ 833 3.9 % 5.50% 2026 pound sterling Notes £ 475 5.5 % $ 747 6.0 % 4.00% 2029 pound sterling Notes £ 700 4.0 % $ 1,111 4.5 %
Unrealized gain (loss) recognized in Other Comprehensive Income for our derivative instruments designated as cash flow hedges	The unrealized gains and losses recognized in AOCI for our derivative instruments designated as cash flow hedges were as follows (in millions): Three months ended Six months ended Derivatives in cash flow hedging relationships 2021 2020 2021 2020 Foreign currency contracts $ (46) $ (101) $ 137 $ 138 Cross-currency swap contracts 15 71 (60) (330) Total unrealized (losses) gains $ (31) $ (30) $ 77 $ (192)
Derivatives in fair value hedging relationships	The hedged liabilities and related cumulative-basis adjustments for fair value hedges of those liabilities were recorded in the Condensed Consolidated Balance Sheets as follows (in millions): Carrying amounts of hedged liabilities (1) Cumulative amounts of fair value hedging adjustments related to the carrying amounts of the hedged liabilities (2) Condensed Consolidated Balance Sheets locations June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 Current portion of long-term debt $ 844 $ 89 $ 94 $ 89 Long-term debt $ 6,857 $ 6,258 $ 330 $ 477 ____________ (1) Current portion of long-term debt includes $89 million of carrying value with discontinued hedging relationships as of both June 30, 2021 and December 31, 2020. Long-term debt includes $481 million and $525 million of carrying value with discontinued hedging relationships as of June 30, 2021 and December 31, 2020, respectively. (2) Current portion of long-term debt includes $89 million of hedging adjustments on discontinued hedging relationships as of both June 30, 2021 and December 31, 2020. Long-term debt includes $381 million and $425 million of hedging adjustments on discontinued hedging relationships as of June 30, 2021 and December 31, 2020, respectively.
Summary of amounts of income and expense line items	The following tables summarize the amounts recorded in income and expense line items and the effects thereon from fair value and cash flow hedging, including discontinued hedging relationships (in millions): Three months ended June 30, 2021 Six months ended June 30, 2021 Product sales Other income, net Interest expense, net Product sales Other income, net Interest expense, net Total amounts recorded in income and (expense) line items presented in the Condensed Consolidated Statements of Income $ 6,114 $ 11 $ (281) $ 11,706 $ 24 $ (566) The effects of cash flow and fair value hedging: (Losses) gains on cash flow hedging relationships reclassified out of AOCI: Foreign currency contracts $ (18) $ — $ — $ (19) $ — $ — Cross-currency swap contracts $ — $ 46 $ — $ — $ (86) $ — (Losses) gains on fair value hedging relationships—interest rate swap agreements: Hedged items (1) $ — $ — $ (34) $ — $ — $ 141 Derivatives designated as hedging instruments $ — $ — $ 55 $ — $ — $ (97) Three months ended June 30, 2020 Six months ended June 30, 2020 Product sales Other income, net Interest expense, net Product sales Other income, net Interest expense, net Total amounts recorded in income and (expense) line items presented in the Condensed Consolidated Statements of Income $ 5,908 $ 3 $ (296) $ 11,802 $ 14 $ (642) The effects of cash flow and fair value hedging: Gains (losses) on cash flow hedging relationships reclassified out of AOCI: Foreign currency contracts $ 68 $ — $ — $ 117 $ — $ — Cross-currency swap contracts $ — $ 51 $ — $ — $ (82) $ — (Losses) gains on fair value hedging relationships—interest rate swap agreements: Hedged items (1) $ — $ — $ (30) $ — $ — $ 180 Derivatives designated as hedging instruments $ — $ — $ 53 $ — $ — $ (137) __________ (1) Gains on hedged items do not exactly offset losses on the related designated hedging instruments due to amortization of the cumulative amounts of fair value hedging adjustments included in the carrying amount of the hedged debt for discontinued hedging relationships and the recognition of gains on terminated hedges when the corresponding hedged item was paid down in the period.
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 June 30, 2021 Condensed Consolidated Fair values Condensed Consolidated Fair values Derivatives designated as hedging instruments: Foreign currency contracts Other current assets/ Other assets $ 62 Accrued liabilities/ Other noncurrent liabilities $ 119 Cross-currency swap contracts Other current assets/ Other assets 182 Accrued liabilities/ Other noncurrent liabilities 305 Interest rate swap contracts Other current assets/ Other assets 45 Accrued liabilities/ Other noncurrent liabilities 90 Total derivatives designated as hedging instruments $ 289 $ 514 Derivative assets Derivative liabilities December 31, 2020 Condensed Consolidated Fair values Condensed Consolidated Fair values Derivatives designated as hedging instruments: Foreign currency contracts Other current assets/ Other assets $ 28 Accrued liabilities/ Other noncurrent liabilities $ 237 Cross-currency swap contracts Other current assets/ Other assets 255 Accrued liabilities/ Other noncurrent liabilities 318 Interest rate swap contracts Other current assets/ Other assets 66 Accrued liabilities/ Other noncurrent liabilities 15 Total derivatives designated as hedging instruments $ 349 $ 570

Summary of significant accoun_3

Summary of significant accounting policies (Details) $ in Billions	6 Months Ended
	Jun. 30, 2021USD ($)segment	Dec. 31, 2020USD ($)
Accounting Policies [Abstract]
Number of operating segments | segment	1
Accumulated depreciation and amortization on property, plant and equipment | $	$ 9.1	$ 9

Business Combinations and Ass_2

Business Combinations and Asset Acquisitions (Details) - USD ($) $ in Millions	Apr. 16, 2021	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired				$ (1,626)	$ 0
Acquired in-process research and development		$ 1,505	$ 0	$ 1,505	$ 0
Five Prime Therapeutics, Inc.
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired	$ 1,600
Acquired in-process research and development	1,500
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other	47
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets	$ 177

Revenues (Details)

Revenues (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)segment	Jun. 30, 2020USD ($)
Revenue from Contract with Customer [Abstract]
Number of operating segments | segment			1
Revenue from External Customer [Line Items]
Total revenues	$ 6,526	$ 6,206	$ 12,427	$ 12,367
Product sales [Member]
Revenue from External Customer [Line Items]
Total product sales	6,114	5,908	11,706	11,802
Product sales [Member] | US [Member]
Revenue from External Customer [Line Items]
Total product sales	4,374	4,428	8,277	8,707
Product sales [Member] | ROW [Member]
Revenue from External Customer [Line Items]
Total product sales	1,740	1,480	3,429	3,095
Enbrel® (etanercept) [Member]
Revenue from External Customer [Line Items]
Total product sales	1,144	1,246	2,068	2,399
Enbrel® (etanercept) [Member] | US [Member]
Revenue from External Customer [Line Items]
Total product sales	1,113	1,213	2,007	2,330
Enbrel® (etanercept) [Member] | ROW [Member]
Revenue from External Customer [Line Items]
Total product sales	31	33	61	69
Prolia® (denosumab) [Member]
Revenue from External Customer [Line Items]
Total product sales	814	659	1,572	1,313
Prolia® (denosumab) [Member] | US [Member]
Revenue from External Customer [Line Items]
Total product sales	538	441	1,039	863
Prolia® (denosumab) [Member] | ROW [Member]
Revenue from External Customer [Line Items]
Total product sales	276	218	533	450
Otezla (apremilast) [Member]
Revenue from External Customer [Line Items]
Total product sales	534	561	1,010	1,040
Otezla (apremilast) [Member] | US [Member]
Revenue from External Customer [Line Items]
Total product sales	423	464	789	841
Otezla (apremilast) [Member] | ROW [Member]
Revenue from External Customer [Line Items]
Total product sales	111	97	221	199
Neulasta® (pegfilgrastim) [Member]
Revenue from External Customer [Line Items]
Total product sales	486	593	968	1,202
Neulasta® (pegfilgrastim) [Member] | US [Member]
Revenue from External Customer [Line Items]
Total product sales	434	520	855	1,054
Neulasta® (pegfilgrastim) [Member] | ROW [Member]
Revenue from External Customer [Line Items]
Total product sales	52	73	113	148
XGEVA® (denosumab) [Member]
Revenue from External Customer [Line Items]
Total product sales	488	435	956	916
XGEVA® (denosumab) [Member] | US [Member]
Revenue from External Customer [Line Items]
Total product sales	355	318	689	673
XGEVA® (denosumab) [Member] | ROW [Member]
Revenue from External Customer [Line Items]
Total product sales	133	117	267	243
Aranesp® (darbepoetin alfa) [Member]
Revenue from External Customer [Line Items]
Total product sales	367	387	722	809
Aranesp® (darbepoetin alfa) [Member] | US [Member]
Revenue from External Customer [Line Items]
Total product sales	135	156	260	331
Aranesp® (darbepoetin alfa) [Member] | ROW [Member]
Revenue from External Customer [Line Items]
Total product sales	232	231	462	478
Repatha (evolocumab) [Member]
Revenue from External Customer [Line Items]
Total product sales	286	200	572	429
Repatha (evolocumab) [Member] | US [Member]
Revenue from External Customer [Line Items]
Total product sales	143	115	282	239
Repatha (evolocumab) [Member] | ROW [Member]
Revenue from External Customer [Line Items]
Total product sales	143	85	290	190
KYPROLIS® (carfilzomib) [Member]
Revenue from External Customer [Line Items]
Total product sales	280	253	531	533
KYPROLIS® (carfilzomib) [Member] | US [Member]
Revenue from External Customer [Line Items]
Total product sales	190	167	349	354
KYPROLIS® (carfilzomib) [Member] | ROW [Member]
Revenue from External Customer [Line Items]
Total product sales	90	86	182	179
Other products [Member]
Revenue from External Customer [Line Items]
Total product sales	1,715	1,574	3,307	3,161
Other products [Member] | US [Member]
Revenue from External Customer [Line Items]
Total product sales	1,043	1,034	2,007	2,022
Other products [Member] | ROW [Member]
Revenue from External Customer [Line Items]
Total product sales	672	540	1,300	1,139
Other revenues [Member]
Revenue from External Customer [Line Items]
Total revenues	$ 412	$ 298	$ 721	$ 565

Income taxes (Details)

Income taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	May 31, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate	16.80%	11.20%	12.60%	10.40%
Increase in unrecognized tax benefits resulting from tax positions taken during the current period	$ 50		$ 110
Proposed additional income tax					$ 3,600
Repatriation tax on proposed additional tax					$ 900

Earnings per share (Details)

Earnings per share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Income (Numerator):
Net income for basic and diluted EPS	$ 464	$ 1,646	$ 1,803	$ 1,825	$ 2,110	$ 3,628
Shares (Denominator):
Weighted-average shares for basic EPS (in shares)	573		588		575	589
Effect of dilutive securities (in shares)	3		4		3	4
Weighted-average shares for diluted EPS (in shares)	576		592		578	593
Basic EPS (in usd per share)	$ 0.81		$ 3.07		$ 3.67	$ 6.16
Diluted EPS (in usd per share)	$ 0.81		$ 3.05		$ 3.65	$ 6.12

Investments (Details)

Investments (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Amortized cost	$ 7,158,000,000	$ 9,844,000,000
Gross unrealized gains	1,000,000	1,000,000
Gross unrealized losses	0	0
Fair values	7,159,000,000	9,845,000,000
U.S. Treasury notes [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized cost	51,000,000	129,000,000
Gross unrealized gains	1,000,000	1,000,000
Gross unrealized losses	0	0
Fair values	52,000,000	130,000,000
U.S. Treasury bills [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized cost	1,400,000,000	4,948,000,000
Gross unrealized gains	0	0
Gross unrealized losses	0	0
Fair values	1,400,000,000	4,948,000,000
Money market mutual funds [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized cost	5,707,000,000	4,765,000,000
Gross unrealized gains	0	0
Gross unrealized losses	0	0
Fair values	5,707,000,000	4,765,000,000
Other short-term interest-bearing securities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized cost	0	2,000,000
Gross unrealized gains	0	0
Gross unrealized losses	0	0
Fair values	$ 0	$ 2,000,000

Investments (Fair Values by Cla

Investments (Fair Values by Classification) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Fair values of available-for-sale investments by classification in the Consolidated Balance Sheets
Marketable securities	$ 1,452	$ 4,381
Total interest-bearing securities	7,159	9,845
Available-for-sale investments [Member]
Fair values of available-for-sale investments by classification in the Consolidated Balance Sheets
Cash and cash equivalents	5,707	5,464
Marketable securities	1,452	4,381
Total interest-bearing securities	$ 7,159	$ 9,845

Investments (Available-for-sale

Investments (Available-for-sale Investments) (Details Textual) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Cash	$ 923	$ 802

Investments (Fair Values by Con

Investments (Fair Values by Contractual Maturity) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Maturing in one year or less	$ 7,159	$ 9,795
Maturing after one year through three years	0	50
Total interest-bearing securities	$ 7,159	$ 9,845

Investments (Equity Securities)

Investments (Equity Securities) (Details Textual) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Equity securities	$ 403		$ 403		$ 477
Equity Securities, FV-NI, Unrealized Gain (Loss)	25	$ 80	(31)	$ 5
Equity securities without readily determinable fair value	$ 245		$ 245		$ 203

Investments Investments (Limite

Investments Investments (Limited Partnership Investments) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Limited Partnership [Member] | Fair Value Measured at Net Asset Value Per Share [Member]
Net Investment Income [Line Items]
Alternative investments	$ 616		$ 616		$ 496
Net gains (losses) from limited partnership investments	(43)	$ (10)	165	$ 10
BeiGene [Member]
Net Investment Income [Line Items]
Carrying value of equity method investment	$ 2,800		$ 2,800
Ownership percentage	20.30%		20.30%
Equity Method Investments,Quoted Market Price	$ 6,400		$ 6,400
Income (Loss) from Equity Method Investments	14		(83)
Equity Method Investment, Amortization of Difference Between Carrying Amount and Underlying Equity	42		84
Equity Method Investment, Change In Carrying Value, Other	$ 21		$ 38

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 641	$ 486
Work in process	2,443	2,437
Finished goods	1,031	970
Total inventories	$ 4,115	$ 3,893

Goodwill and other intangible_3

Goodwill and other intangible assets (Goodwill Roll Forward) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2021USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 14,689
Currency translation adjustment	(13)
Ending balance	$ 14,676

Goodwill and other intangible_4

Goodwill and other intangible assets (Identifiable Intangible Assets) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross carrying amounts	$ 32,021	$ 32,018
Accumulated amortization	(16,743)	(15,461)
Other intangible assets, net	15,278	16,557
Gross carrying amount	32,051	32,048
Accumulated amortization	(16,743)	(15,461)
Intangible assets, net	15,308	16,587
In-process Research and Development [Member]
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	30	30
Developed-Product-Technology Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amounts	25,584	25,591
Accumulated amortization	(11,673)	(10,564)
Other intangible assets, net	13,911	15,027
Licensing Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amounts	3,766	3,743
Accumulated amortization	(2,886)	(2,791)
Other intangible assets, net	880	952
Marketing-Related Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amounts	1,363	1,367
Accumulated amortization	(1,079)	(1,041)
Other intangible assets, net	284	326
Research and Development Technology Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amounts	1,308	1,317
Accumulated amortization	(1,105)	(1,065)
Other intangible assets, net	$ 203	$ 252

Goodwill and other intangible_5

Goodwill and other intangible assets (Details Textual) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization charges associated with finite-lived intangible assets	$ 652	$ 713	$ 1,300	$ 1,400
Total estimated amortization of finite-lived intangible assets for the six months ending December 31, 2021	1,200		1,200
Total estimated amortization of finite-lived intangible assets for 2022	2,500		2,500
Total estimated amortization of finite-lived intangible assets for 2023	2,400		2,400
Total estimated amortization of finite-lived intangible assets for 2024	2,400		2,400
Total estimated amortization of finite-lived intangible assets for 2025	2,200		2,200
Total estimated amortization of finite-lived intangible assets for 2026	$ 1,800		$ 1,800

Financing arrangements (Princip

Financing arrangements (Principal Amounts and Carrying Value of Long-term Borrowings) (Details) $ in Millions	Jun. 30, 2021USD ($)	Jun. 30, 2021EUR (€)	Jun. 30, 2021CHF (SFr)	Jun. 30, 2021GBP (£)	Dec. 31, 2020USD ($)
Debt Instrument [Line Items]
Unamortized bond discounts, premiums and issuance costs, net	$ (1,174)				$ (1,188)
Fair value adjustments	424				566
Other	16				5
Total carrying value of debt	32,782				32,986
Less current portion	(4,324)				(91)
Total long-term debt	$ 28,458				32,895
Notes [Member] | 1.25% €1,250 million notes due 2022 (1.25% 2022 euro Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	1.25%	1.25%	1.25%	1.25%
Long-term debt, gross	$ 1,482				1,527
Face amount | €		€ 1,250,000,000
Notes [Member] | 2.70% notes due 2022 (2.70% 2022 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	2.70%	2.70%	2.70%	2.70%
Long-term debt, gross	$ 500				500
Notes [Member] | 2.65% notes due 2022 (2.65% 2022 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	2.65%	2.65%	2.65%	2.65%
Long-term debt, gross	$ 1,500				1,500
Notes [Member] | 3.625% notes due 2022 (3.625% 2022 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	3.625%	3.625%	3.625%	3.625%
Long-term debt, gross	$ 750				750
Notes [Member] | 0.41% CHF700 million bonds due 2023 (0.41% 2023 Swiss franc Bonds) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	0.41%	0.41%	0.41%	0.41%
Long-term debt, gross	$ 757				791
Face amount | SFr			SFr 700,000,000
Notes [Member] | 2.25% notes due 2023 (2.25% 2023 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	2.25%	2.25%	2.25%	2.25%
Long-term debt, gross	$ 750				750
Notes [Member] | 3.625% notes due 2024 (3.625% 2024 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	3.625%	3.625%	3.625%	3.625%
Long-term debt, gross	$ 1,400				1,400
Notes [Member] | 1.90% notes due 2025 (1.90% 2025 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	1.90%	1.90%	1.90%	1.90%
Long-term debt, gross	$ 500				500
Notes [Member] | 3.125% notes due 2025 (3.125% 2025 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	3.125%	3.125%	3.125%	3.125%
Long-term debt, gross	$ 1,000				1,000
Notes [Member] | 2.00% €750 million notes due 2026 (2.00% 2026 euro Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	2.00%	2.00%	2.00%	2.00%
Long-term debt, gross	$ 889				916
Face amount | €		€ 750,000,000
Notes [Member] | 2.60% notes due 2026 (2.60% 2026 notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	2.60%	2.60%	2.60%	2.60%
Long-term debt, gross	$ 1,250				1,250
Notes [Member] | 5.50% £475 million notes due 2026 (5.50% 2026 pound sterling Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	5.50%	5.50%	5.50%	5.50%
Long-term debt, gross	$ 657				649
Face amount | £				£ 475,000,000
Notes [Member] | 2.20% notes due 2027 (2.20% 2027 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	2.20%	2.20%	2.20%	2.20%
Long-term debt, gross	$ 1,750				1,750
Notes [Member] | 3.20% notes due 2027 (3.20% 2027 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	3.20%	3.20%	3.20%	3.20%
Long-term debt, gross	$ 1,000				1,000
Notes [Member] | 4.00% £700 million notes due 2029 (4.00% 2029 pound sterling Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	4.00%	4.00%	4.00%	4.00%
Long-term debt, gross	$ 968				957
Face amount | £				£ 700,000,000
Notes [Member] | 2.45% notes due 2030 (2.45% 2030 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	2.45%	2.45%	2.45%	2.45%
Long-term debt, gross	$ 1,250				1,250
Notes [Member] | 2.30% notes due 2031 (2.30% 2031 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	2.30%	2.30%	2.30%	2.30%
Long-term debt, gross	$ 1,250				1,250
Notes [Member] | 6.375% notes due 2037 (6.375% 2037 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	6.375%	6.375%	6.375%	6.375%
Long-term debt, gross	$ 478				478
Notes [Member] | 6.90% notes due 2038 (6.90% 2038 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	6.90%	6.90%	6.90%	6.90%
Long-term debt, gross	$ 254				254
Notes [Member] | 6.40% notes due 2039 (6.40% 2039 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	6.40%	6.40%	6.40%	6.40%
Long-term debt, gross	$ 333				333
Notes [Member] | 3.15% notes due 2040 (3.15% 2040 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	3.15%	3.15%	3.15%	3.15%
Long-term debt, gross	$ 2,000				2,000
Notes [Member] | 5.75% notes due 2040 (5.75% 2040 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	5.75%	5.75%	5.75%	5.75%
Long-term debt, gross	$ 373				373
Notes [Member] | 4.95% notes due 2041 (4.95% 2041 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	4.95%	4.95%	4.95%	4.95%
Long-term debt, gross	$ 600				600
Notes [Member] | 5.15% notes due 2041 (5.15% 2041 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	5.15%	5.15%	5.15%	5.15%
Long-term debt, gross	$ 729				729
Notes [Member] | 5.65% notes due 2042 (5.65% 2042 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	5.65%	5.65%	5.65%	5.65%
Long-term debt, gross	$ 415				415
Notes [Member] | 5.375% notes due 2043 (5.375% 2043 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	5.375%	5.375%	5.375%	5.375%
Long-term debt, gross	$ 185				185
Notes [Member] | 4.40% notes due 2045 (4.40% 2045 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	4.40%	4.40%	4.40%	4.40%
Long-term debt, gross	$ 2,250				2,250
Notes [Member] | 4.563% notes due 2048 (4.563% 2048 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	4.563%	4.563%	4.563%	4.563%
Long-term debt, gross	$ 1,415				1,415
Notes [Member] | 3.375% notes due 2050 (3.375% 2050 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	3.375%	3.375%	3.375%	3.375%
Long-term debt, gross	$ 2,250				2,250
Notes [Member] | 4.663% notes due 2051 (4.663% 2051 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	4.663%	4.663%	4.663%	4.663%
Long-term debt, gross	$ 3,541				3,541
Notes [Member] | Two Point Seven Seven Percent Notes Due Two Zero Five Three
Debt Instrument [Line Items]
Interest rate, stated percentage	2.77%	2.77%	2.77%	2.77%
Long-term debt, gross	$ 940				940
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]	Jun. 30, 2021
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%
Two Point Seven Seven Percent Notes Due Two Zero Five Three
Debt Instrument [Line Items]
Interest rate, stated percentage	2.77%
Effective interest rate	5.20%

Financing arrangements (interes

Financing arrangements (interest rate swaps textual interim only) (Details) - Notes [Member] $ in Millions	Jun. 30, 2021USD ($)
2.45% notes due 2030 (2.45% 2030 Notes) [Member]
Debt Instrument [Line Items]
Notional amounts	$ 1,000
Interest rate, stated percentage	2.45%
2.45% notes due 2030 (2.45% 2030 Notes) [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Derivative, Basis Spread on Variable Rate	1.00%
2.30% notes due 2031 (2.30% 2031 Notes) [Member]
Debt Instrument [Line Items]
Notional amounts	$ 500
Interest rate, stated percentage	2.30%
2.30% notes due 2031 (2.30% 2031 Notes) [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Derivative, Basis Spread on Variable Rate	0.80%

Stockholders' equity (Share Rep

Stockholders' equity (Share Repurchase Program) (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Equity [Abstract]
Stock repurchased, Shares	6.5	3.7	2.6	4.3	10.2	6.9
Stock repurchased	$ 1,592	$ 865	$ 591	$ 933	$ 2,457	$ 1,524

Stockholders' equity (Details T

Stockholders' equity (Details Textual) (Details) - USD ($)	1 Months Ended					3 Months Ended
	Sep. 30, 2021	Jul. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Class of Stock [Line Items]
Stock repurchase program, additional authorized amount				$ 3,400,000,000		$ 3,400,000,000
Amount available for stock repurchases under a board approved stock repurchase plan			$ 3,900,000,000
Dividends declared per share (in usd per share)		$ 1.76		$ 1.76	$ 1.76	$ 1.76	$ 1.60
Dividends paid per share (in usd per share)			$ 1.76	$ 1.76
Forecast [Member]
Class of Stock [Line Items]
Dividends paid per share (in usd per share)	$ 1.76

Stockholders' equity (Component

Stockholders' equity (Components of AOCI) (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Increase (Decrease) in AOCI [Roll Forward]
Balance as of beginning of period	$ 9,334	$ 9,409	$ 9,485	$ 9,409	$ 9,673
Foreign currency translation adjustments	14		(3)	(25)	(55)
Balance as of end of period	8,247	9,334	10,659	8,247	10,659
Foreign currency translation [Member]
Increase (Decrease) in AOCI [Roll Forward]
Balance as of beginning of period	(748)	(709)		(709)
Foreign currency translation adjustments	14	(39)
Income taxes	0	0
Balance as of end of period	(734)	(748)		(734)
Cash flow hedges [Member]
Increase (Decrease) in AOCI [Roll Forward]
Balance as of beginning of period	(73)	(263)		(263)
Unrealized gains	(31)	108
Reclassification adjustments to income	(28)	133
Income taxes	11	(51)
Balance as of end of period	(121)	(73)		(121)
Available-for-sale securities [Member]
Increase (Decrease) in AOCI [Roll Forward]
Balance as of beginning of period	1	1		1
Unrealized gains	0	0
Reclassification adjustments to income	0	0
Income taxes	0	0
Balance as of end of period	1	1		1
Other [Member]
Increase (Decrease) in AOCI [Roll Forward]
Balance as of beginning of period	(13)	(14)		(14)
Unrealized gains	0	0
Other	(1)	1
Balance as of end of period	(14)	(13)		(14)
AOCI [Member]
Increase (Decrease) in AOCI [Roll Forward]
Balance as of beginning of period	(833)	(985)	(662)	(985)	(528)
Foreign currency translation adjustments	14	(39)
Unrealized gains	(31)	108
Reclassification adjustments to income	(28)	133
Other	(1)	1
Income taxes	11	(51)
Balance as of end of period	$ (868)	$ (833)	$ (783)	$ (868)	$ (783)

Stockholders' equity (Reclassif

Stockholders' equity (Reclassifications out of AOCI) (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Other income, net	$ 11		$ 3		$ 24	$ 14
Income before income taxes	558		2,030		2,415	4,050
Provision for income taxes	(94)		(227)		(305)	(422)
Net income	464	$ 1,646	1,803	$ 1,825	2,110	3,628
Product sales [Member]
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Product sales	6,114		5,908		11,706	11,802
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	28		119		(105)	35
Provision for income taxes	(6)		(26)		22	(8)
Net income	22		93		(83)	27
Reclassification out of Accumulated Other Comprehensive Income [Member] | Available-for-sale securities [Member]
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Other income, net	0		0		0	33
Provision for income taxes	0		0		0	(7)
Net income	0		0		0	26
Reclassification out of Accumulated Other Comprehensive Income [Member] | Foreign currency contract [Member] | Cash flow hedges [Member] | Product sales [Member]
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Product sales	(18)		68		(19)	117
Reclassification out of Accumulated Other Comprehensive Income [Member] | Cross-currency swap contract [Member] | Cash flow hedges [Member]
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Other income, net	46		51		(86)	(82)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Cash flow hedges [Member] | Foreign currency contract [Member] | Cash flow hedges [Member] | Product sales [Member]
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Product sales	(18)		68		(19)	117
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]
Other income, net	$ 46		$ 51		$ (86)	$ (82)

Fair value measurement (Details

Fair value measurement (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Assets:
Interest-bearing securities	$ 7,159	$ 9,845
Equity securities	403	477
Derivatives:
Total assets	7,851	10,671
Derivatives:
Contingent consideration obligations	48	33
Total liabilities	562	603
Foreign currency contracts [Member]
Derivatives:
Foreign currency and cross-currency swap contracts	62	28
Derivatives:
Foreign currency and cross-currency swap contracts	119	237
Cross-currency swap contracts [Member]
Derivatives:
Foreign currency and cross-currency swap contracts	182	255
Derivatives:
Foreign currency and cross-currency swap contracts	305	318
Interest rate swap contracts [Member]
Derivatives:
Interest rate swap contracts	45	66
Derivatives:
Interest rate swap contracts	90	15
Quoted prices in active markets for identical assets (Level 1) [Member]
Assets:
Equity securities	403	477
Derivatives:
Total assets	7,562	10,320
Derivatives:
Contingent consideration obligations	0	0
Total liabilities	0	0
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
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
Quoted prices in active markets for identical assets (Level 1) [Member] | Interest rate swap contracts [Member]
Derivatives:
Interest rate swap contracts	0	0
Derivatives:
Interest rate swap contracts	0	0
Significant other observable inputs (Level 2) [Member]
Assets:
Equity securities	0	0
Derivatives:
Total assets	289	351
Derivatives:
Contingent consideration obligations	0	0
Total liabilities	514	570
Significant other observable inputs (Level 2) [Member] | Foreign currency contracts [Member]
Derivatives:
Foreign currency and cross-currency swap contracts	62	28
Derivatives:
Foreign currency and cross-currency swap contracts	119	237
Significant other observable inputs (Level 2) [Member] | Cross-currency swap contracts [Member]
Derivatives:
Foreign currency and cross-currency swap contracts	182	255
Derivatives:
Foreign currency and cross-currency swap contracts	305	318
Significant other observable inputs (Level 2) [Member] | Interest rate swap contracts [Member]
Derivatives:
Interest rate swap contracts	45	66
Derivatives:
Interest rate swap contracts	90	15
Significant unobservable inputs (Level 3) [Member]
Assets:
Equity securities	0	0
Derivatives:
Total assets	0	0
Derivatives:
Contingent consideration obligations	48	33
Total liabilities	48	33
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
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
Significant unobservable inputs (Level 3) [Member] | Interest rate swap contracts [Member]
Derivatives:
Interest rate swap contracts	0	0
Derivatives:
Interest rate swap contracts	0	0
U.S. Treasury notes [Member]
Assets:
Interest-bearing securities	52	130
U.S. Treasury notes [Member] | Quoted prices in active markets for identical assets (Level 1) [Member]
Assets:
Interest-bearing securities	52	130
U.S. Treasury notes [Member] | Significant other observable inputs (Level 2) [Member]
Assets:
Interest-bearing securities	0	0
U.S. Treasury notes [Member] | Significant unobservable inputs (Level 3) [Member]
Assets:
Interest-bearing securities	0	0
U.S. Treasury bills [Member]
Assets:
Interest-bearing securities	1,400	4,948
U.S. Treasury bills [Member] | Quoted prices in active markets for identical assets (Level 1) [Member]
Assets:
Interest-bearing securities	1,400	4,948
U.S. Treasury bills [Member] | Significant other observable inputs (Level 2) [Member]
Assets:
Interest-bearing securities	0	0
U.S. Treasury bills [Member] | Significant unobservable inputs (Level 3) [Member]
Assets:
Interest-bearing securities	0	0
Money market mutual funds [Member]
Assets:
Interest-bearing securities	5,707	4,765
Money market mutual funds [Member] | Quoted prices in active markets for identical assets (Level 1) [Member]
Assets:
Interest-bearing securities	5,707	4,765
Money market mutual funds [Member] | Significant other observable inputs (Level 2) [Member]
Assets:
Interest-bearing securities	0	0
Money market mutual funds [Member] | Significant unobservable inputs (Level 3) [Member]
Assets:
Interest-bearing securities	0	0
Other short-term interest-bearing securities [Member]
Assets:
Interest-bearing securities	0	2
Other short-term interest-bearing securities [Member] | Quoted prices in active markets for identical assets (Level 1) [Member]
Assets:
Interest-bearing securities	0	0
Other short-term interest-bearing securities [Member] | Significant other observable inputs (Level 2) [Member]
Assets:
Interest-bearing securities	0	2
Other short-term interest-bearing securities [Member] | Significant unobservable inputs (Level 3) [Member]
Assets:
Interest-bearing securities	$ 0	$ 0

Fair value measurement (Detai_2

Fair value measurement (Details Textual) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Length of time hedged in foreign currency contracts (or less)	3 years
Long-term debt, fair value	$ 37,900	$ 39,400
Carrying value of debt	$ 32,782	$ 32,986

Derivative instruments (Details

Derivative instruments (Details Textual) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
2.45% notes due 2030 (2.45% 2030 Notes) [Member] | Notes [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, notional amount	$ 1,000
Interest rate, stated percentage	2.45%
2.30% notes due 2031 (2.30% 2031 Notes) [Member] | Notes [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, notional amount	$ 500
Interest rate, stated percentage	2.30%
Derivatives designated as hedging instrument [Member] | Foreign currency forward contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, notional amount	$ 5,200	$ 5,100
Derivatives designated as hedging instrument [Member] | Interest Rate Swap [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, notional amount	7,400	5,900
Derivatives designated as hedging instrument [Member] | Interest Rate Swap [Member] | 2030 And 2021 Note Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, notional amount	1,500
Derivatives not designated as hedging instrument [Member] | Foreign currency forward contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, notional amount	800	1,000
Long-term debt [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Hedged Liability, Fair Value Hedge	$ 6,857	$ 6,258

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	Jun. 30, 2021USD ($)	Jun. 30, 2021EUR (€)	Jun. 30, 2021CHF (SFr)	Jun. 30, 2021GBP (£)
1.25% 2022 euro Notes [Member]
Derivative [Line Items]
Notional amounts	$ 1,388	€ 1,250
0.41% 2023 Swiss franc Bonds [Member]
Derivative [Line Items]
Notional amounts	704		SFr 700
2.00% 2026 euro Notes [Member]
Derivative [Line Items]
Notional amounts	833	€ 750
5.50% 2026 pound sterling Notes [Member]
Derivative [Line Items]
Notional amounts	747			£ 475
4.00% 2029 pound sterling Notes [Member]
Derivative [Line Items]
Notional amounts	$ 1,111			£ 700
Euro Member Countries, Euro | 1.25% 2022 euro Notes [Member]
Derivative [Line Items]
Interest rates	1.30%	1.30%	1.30%	1.30%
Euro Member Countries, Euro | 2.00% 2026 euro Notes [Member]
Derivative [Line Items]
Interest rates	2.00%	2.00%	2.00%	2.00%
Switzerland, Francs | 0.41% 2023 Swiss franc Bonds [Member]
Derivative [Line Items]
Interest rates	0.40%	0.40%	0.40%	0.40%
United Kingdom, Pounds | 5.50% 2026 pound sterling Notes [Member]
Derivative [Line Items]
Interest rates	5.50%	5.50%	5.50%	5.50%
United Kingdom, Pounds | 4.00% 2029 pound sterling Notes [Member]
Derivative [Line Items]
Interest rates	4.00%	4.00%	4.00%	4.00%
United States of America, Dollars | 1.25% 2022 euro Notes [Member]
Derivative [Line Items]
Interest rates	3.20%	3.20%	3.20%	3.20%
United States of America, Dollars | 0.41% 2023 Swiss franc Bonds [Member]
Derivative [Line Items]
Interest rates	3.40%	3.40%	3.40%	3.40%
United States of America, Dollars | 2.00% 2026 euro Notes [Member]
Derivative [Line Items]
Interest rates	3.90%	3.90%	3.90%	3.90%
United States of America, Dollars | 5.50% 2026 pound sterling Notes [Member]
Derivative [Line Items]
Interest rates	6.00%	6.00%	6.00%	6.00%
United States of America, Dollars | 4.00% 2029 pound sterling Notes [Member]
Derivative [Line Items]
Interest rates	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		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Total unrealized gains (losses)	$ (31)	$ (30)	$ 77	$ (192)
Foreign currency contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total unrealized gains (losses)	(46)	(101)	137	138
Cross-currency swap contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total unrealized gains (losses)	$ 15	$ 71	$ (60)	$ (330)

Derivative instruments (Hedged

Derivative instruments (Hedged Liabilities and Cumulative Amount) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Derivative [Line Items]
Cumulative amounts of fair value hedging adjustments related to the carrying amounts of the hedged liabilities	$ 424	$ 566
Current portion of long-term debt [Member]
Derivative [Line Items]
Hedged Liability, Fair Value Hedge	844	89
Cumulative amounts of fair value hedging adjustments related to the carrying amounts of the hedged liabilities	94	89
Carrying value with discontinued hedging relationships	89	89
Hedging adjustments on discontinued hedging relationships	89	89
Long-term debt [Member]
Derivative [Line Items]
Hedged Liability, Fair Value Hedge	6,857	6,258
Cumulative amounts of fair value hedging adjustments related to the carrying amounts of the hedged liabilities	330	477
Carrying value with discontinued hedging relationships	481	525
Hedging adjustments on discontinued hedging relationships	$ 381	$ 425

Derivative instruments (Summary

Derivative instruments (Summary of Income and Expense Line Items) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Other income, net	$ 11	$ 3	$ 24	$ 14
Interest expense, net	(281)	(296)	(566)	(642)
Interest rate swap agreements [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on fair value hedging relationships, Hedged items	(34)	(30)	141	180
Gains (losses) on fair value hedging relationships, Derivatives designated as hedging instruments	55	53	(97)	(137)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Cash flow hedges [Member] | Cross-currency swap contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other income, net	46	51	(86)	(82)
Product sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Product sales	6,114	5,908	11,706	11,802
Product sales [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Cash flow hedges [Member] | Foreign currency contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Product sales	$ (18)	$ 68	$ (19)	$ 117

Derivative instruments (Fair Va

Derivative instruments (Fair Value of Derivatives) (Details) - Derivatives designated as hedging instrument [Member] - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Assets
Total derivative assets, fair value	$ 289	$ 349
Liabilities
Total derivative liabilities, fair value	514	570
Foreign currency contracts [Member] | Other current assets/Other assets [Member]
Assets
Total derivative assets, fair value	62	28
Foreign currency contracts [Member] | Accrued liabilities/Other noncurrent liabilities [Member]
Liabilities
Total derivative liabilities, fair value	119	237
Cross-currency swap contracts [Member] | Other current assets/Other assets [Member]
Assets
Total derivative assets, fair value	182	255
Cross-currency swap contracts [Member] | Accrued liabilities/Other noncurrent liabilities [Member]
Liabilities
Total derivative liabilities, fair value	305	318
Interest rate swap contracts [Member] | Other current assets/Other assets [Member]
Assets
Total derivative assets, fair value	45	66
Interest rate swap contracts [Member] | Accrued liabilities/Other noncurrent liabilities [Member]
Liabilities
Total derivative liabilities, fair value	$ 90	$ 15

Contingencies and commitments (

Contingencies and commitments (Details) - Novartis Pharma AG $ in Millions	Jun. 02, 2021USD ($)claim
Loss Contingencies [Line Items]
Litigation Settlement, Expense | $	$ 48
Loss Contingency, Claims Settled, Number | claim	2

Subsequent events (Details)

Subsequent events (Details) $ in Millions	3 Months Ended
	Sep. 30, 2021USD ($)
Forecast [Member]
Subsequent Event [Line Items]
Up-front payment	$ 400