Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Oct. 23, 2013 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | FALSE | |
Document Period End Date | 30-Sep-13 | |
Document Fiscal Year Focus | 2013 | |
Document Fiscal Period Focus | Q3 | |
Entity Registrant Name | Lilly Eli & Co | |
Entity Central Index Key | 59478 | |
Current Fiscal Year End Date | -19 | |
Entity Well-known Seasoned Issuer | Yes | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 1,126,649,615 |
Consolidated_Condensed_Stateme
Consolidated Condensed Statements of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Revenue | $5,772.60 | $5,443.30 | $17,304.30 | $16,646 |
Cost of sales | 1,198.10 | 1,203.60 | 3,521.60 | 3,548.20 |
Research and development | 1,377.40 | 1,342.80 | 4,055.90 | 3,815 |
Marketing, selling, and administrative | 1,652.40 | 1,757.40 | 5,172 | 5,536 |
Asset impairments, restructuring, and other special charges | 0 | 53.3 | 85.2 | 77.1 |
Other - net, (income) expense | 31.3 | -788.5 | -509.8 | -726 |
Cost of sales, operating expenses, and other-net | 4,259.20 | 3,568.60 | 12,324.90 | 12,250.30 |
Income before income taxes | 1,513.40 | 1,874.70 | 4,979.40 | 4,395.70 |
Income taxes | 310.3 | 548.1 | 1,022.10 | 1,134.40 |
Net income | $1,203.10 | $1,326.60 | $3,957.30 | $3,261.30 |
Earnings per share, basic | $1.11 | $1.18 | $3.65 | $2.92 |
Earnings per share, diluted | $1.11 | $1.18 | $3.64 | $2.92 |
Dividends paid per share | $0.49 | $0.49 | $1.47 | $1.47 |
Consolidated_Condensed_Stateme1
Consolidated Condensed Statements of Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Net income | $1,203.10 | $1,326.60 | $3,957.30 | $3,261.30 |
Other comprehensive income, net of tax | 384.6 | 398.3 | 233 | 322.7 |
Comprehensive income | $1,587.70 | $1,724.90 | $4,190.30 | $3,584 |
Consolidated_Condensed_Balance
Consolidated Condensed Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Current Assets | ||
Cash and cash equivalents | $4,368.90 | $4,018.80 |
Short-term investments | 1,010.40 | 1,665.50 |
Accounts receivable, net of allowances of $106.3 (2013) and $108.5 (2012) | 3,445 | 3,336.30 |
Other receivables | 550.4 | 552 |
Inventories | 2,974.10 | 2,643.80 |
Prepaid expenses and other | 853.4 | 822.3 |
Total current assets | 13,202.20 | 13,038.70 |
Other Assets | ||
Investments | 7,220.20 | 6,313.30 |
Goodwill and other intangibles, net | 4,455.10 | 4,752.70 |
Sundry | 1,320.70 | 2,534 |
Total other assets | 12,996 | 13,600 |
Property and Equipment | ||
Land, buildings, equipment, and construction-in-progress | 15,343 | 14,918 |
Less accumulated depreciation | -7,575.60 | -7,157.80 |
Property and equipment, net | 7,767.40 | 7,760.20 |
Total assets | 33,965.60 | 34,398.90 |
Current Liabilities | ||
Short-term borrowings and current maturities of long-term debt | 1,019.10 | 11.9 |
Accounts payable | 1,247.40 | 1,188.30 |
Employee compensation | 805.2 | 940.3 |
Sales rebates and discounts | 2,014.10 | 1,777.20 |
Dividends payable | 0 | 541.4 |
Income taxes payable | 37.5 | 143.5 |
Deferred income taxes | 841.9 | 1,048 |
Other current liabilities | 2,110.90 | 2,738.90 |
Total current liabilities | 8,076.10 | 8,389.50 |
Other Liabilities | ||
Long-term debt | 4,263.80 | 5,519.40 |
Accrued retirement benefits | 2,607.90 | 3,012.40 |
Long-term income taxes payable | 853.5 | 1,334.30 |
Other noncurrent liabilities | 1,268.20 | 1,369.40 |
Total other liabilities | 8,993.40 | 11,235.50 |
Shareholders' Equity | ||
Common stock | 704.7 | 716.6 |
Additional paid-in capital | 5,042.30 | 4,963.10 |
Retained earnings | 17,811 | 16,088.20 |
Employee benefit trust | -3,013.20 | -3,013.20 |
Accumulated other comprehensive loss | -3,564.10 | -3,797.10 |
Noncontrolling interests | 9 | 8.7 |
Cost of common stock in treasury | -93.6 | -192.4 |
Total shareholders' equity | 16,896.10 | 14,773.90 |
Total liabilities and shareholders' equity | $33,965.60 | $34,398.90 |
Consolidated_Condensed_Balance1
Consolidated Condensed Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Accounts receivable, allowances | $106.30 | $108.50 |
Consolidated_Condensed_Stateme2
Consolidated Condensed Statements of Cash Flows (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Cash Flows from Operating Activities | ||
Net income | $3,957.30 | $3,261.30 |
Adjustments to Reconcile Net Income to Cash Flows from Operating Activities: | ||
Depreciation and amortization | 1,094.40 | 1,117.60 |
Change in deferred income taxes | -807.6 | -206.2 |
Stock-based compensation expense | 105.1 | 100.3 |
Income related to the termination of the exenatide collaboration | -495.4 | -787.8 |
Other changes in operating assets and liabilities, net of acquisitions and divestitures | 1,498.30 | 271.5 |
Other operating activities, net | 37.5 | 76.7 |
Net Cash Provided by Operating Activities | 4,008.20 | 3,702.80 |
Cash Flows from Investing Activities | ||
Net purchases of property and equipment | -548.1 | -492.2 |
Proceeds from sales and maturities of short-term investments | 2,378.10 | 2,125.80 |
Purchases of short-term investments | -778.6 | -1,868.50 |
Proceeds from sales and maturities of noncurrent investments | 8,482.90 | 3,557.40 |
Purchases of noncurrent investments | -10,239.50 | -5,506.80 |
Purchase of product rights | 0 | -102 |
Cash paid for acquisitions, net of cash acquired | -43.7 | -199.3 |
Net change in loan to collaboration partner | 0 | 165 |
Proceeds from prepayment of revenue-sharing obligation | 0 | 1,212.10 |
Other investing activities, net | -91.5 | -61.8 |
Net Cash Used for Investing Activities | -840.4 | -1,170.30 |
Cash Flows from Financing Activities | ||
Dividends paid | -1,591.80 | -1,639.20 |
Net change in short-term borrowings | 0 | -6.7 |
Repayment of long-term debt | -3 | -1,508.50 |
Purchases of common stock | -1,198.10 | 0 |
Net Cash Used for Financing Activities | -2,792.90 | -3,154.40 |
Effect of exchange rate changes on cash and cash equivalents | -24.8 | 18.6 |
Net increase (decrease) in cash and cash equivalents | 350.1 | -603.3 |
Cash and cash equivalents at January 1 | 4,018.80 | 5,922.50 |
Cash and Cash Equivalents at September 30 | $4,368.90 | $5,319.20 |
Basis_of_Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation [Text Block] | Note 1: Basis of Presentation |
We have prepared the accompanying unaudited consolidated condensed financial statements in accordance with the requirements of Form 10-Q and, therefore, they do not include all information and footnotes necessary for a fair presentation of financial position, results of operations, and cash flows in conformity with accounting principles generally accepted in the United States (GAAP). In our opinion, the financial statements reflect all adjustments (including those that are normal and recurring) that are necessary for a fair presentation of the results of operations for the periods shown. In preparing financial statements in conformity with GAAP, we must make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses, and related disclosures at the date of the financial statements and during the reporting period. Actual results could differ from those estimates. | |
The information included in this Quarterly Report on Form 10-Q should be read in conjunction with our consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2012. We issued our financial statements by filing with the SEC and have evaluated subsequent events up to the time of the filing. | |
Certain reclassifications have been made to prior periods in the consolidated condensed financial statements and accompanying notes to conform with the current presentation. |
Implementation_of_New_Financia
Implementation of New Financial Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2013 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Accounting Changes and Error Corrections [Text Block] | Note 2: Implementation of New Financial Accounting Pronouncements |
In July 2013, the Financial Accounting Standards Board issued a clarification regarding the presentation of an unrecognized tax benefit related to a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. Under this new standard, the liability related to an unrecognized tax benefit, or a portion thereof, should be presented in the financial statements as a reduction to a deferred tax asset if available under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position. Otherwise, the unrecognized tax benefit should be presented in the financial statements as a separate liability. The assessment is based on the unrecognized tax benefit and deferred tax asset that exist at the reporting date. The provisions of the new standard are effective on a prospective basis beginning in 2014 for annual and interim reporting periods. Early adoption is permitted. While we are still determining the impact of this standard on the presentation of both our deferred tax assets and income taxes payable, implementation of the standard will have no impact on our consolidated statements of operations. |
Acquisitions
Acquisitions | 9 Months Ended |
Sep. 30, 2013 | |
Business Combinations [Abstract] | |
Acquisitions [Text Block] | Note 3: Acquisitions |
On February 17, 2012, we acquired all of the outstanding stock of ChemGen Corporation, a privately-held bioscience company specializing in the development and commercialization of innovative feed-enzyme products that improve the efficiency of poultry, egg, and meat production, for total purchase consideration of $206.9 million in cash. In connection with this acquisition, we recorded $151.5 million of intangible assets related to marketed products and $55.4 million of other net assets. |
Collaborations
Collaborations | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||||||||||||||
Collaborations [Text Block] | Note 4: Collaborations | |||||||||||||||
We often enter into collaborative arrangements to develop and commercialize drug candidates. Collaborative activities may include research and development, marketing and selling (including promotional activities and physician detailing), manufacturing, and distribution. These collaborations often require milestone and royalty or profit-share payments, contingent upon the occurrence of certain future events linked to the success of the asset in development, as well as expense reimbursements or payments to the third party. Revenues related to products we sell pursuant to these arrangements are included in net product sales, while other sources of revenue (e.g., royalties and profit-share payments) are included in collaboration and other revenue. Operating expenses for costs incurred pursuant to these arrangements are reported in their respective expense line item, net of any payments made to or reimbursements received from our collaboration partners. Each collaboration is unique in nature, and our more significant arrangements are discussed belo | ||||||||||||||||
Note 4: Collaborations | ||||||||||||||||
We often enter into collaborative arrangements to develop and commercialize drug candidates. Collaborative activities may include research and development, marketing and selling (including promotional activities and physician detailing), manufacturing, and distribution. These collaborations often require milestone and royalty or profit-share payments, contingent upon the occurrence of certain future events linked to the success of the asset in development, as well as expense reimbursements or payments to the third party. Revenues related to products we sell pursuant to these arrangements are included in net product sales, while other sources of revenue (e.g., royalties and profit-share payments) are included in collaboration and other revenue. Operating expenses for costs incurred pursuant to these arrangements are reported in their respective expense line item, net of any payments made to or reimbursements received from our collaboration partners. Each collaboration is unique in nature, and our more significant arrangements are discussed below. | ||||||||||||||||
The following table summarizes the composition of our total revenue recognized from all transactions, including collaboration activity: | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Net product sales | $ | 5,589.20 | $ | 5,301.20 | $ | 16,797.60 | $ | 16,170.50 | ||||||||
Collaboration and other revenue | 183.4 | 142.1 | 506.7 | 475.5 | ||||||||||||
Total revenue | $ | 5,772.60 | $ | 5,443.30 | $ | 17,304.30 | $ | 16,646.00 | ||||||||
Exenatide | ||||||||||||||||
In November 2011, we agreed with Amylin Pharmaceuticals, Inc. (Amylin) to terminate our collaborative arrangement for the joint development, marketing, and selling of Byetta® (exenatide injection) and other forms of exenatide such as Bydureon® (exenatide extended-release for injectable suspension). Under the terms of the termination agreement, Amylin made a one-time, upfront payment to us of $250.0 million. Amylin also agreed to make future revenue-sharing payments to us in an amount equal to 15.0 percent of its global net sales of exenatide products until Amylin made aggregate payments to us of $1.20 billion plus interest, which would accrue at 9.5 percent. Upon completion of the acquisition of Amylin by Bristol-Myers Squibb Company in August 2012, Amylin's obligation of $1.26 billion, including accrued interest, was paid in full, with $1.21 billion representing a prepayment of the obligation. Amylin will also pay a $150.0 million milestone to us contingent upon the U.S. Food and Drug Administration (FDA) approval of a once-monthly suspension version of exenatide that is currently in Phase II clinical trials. | ||||||||||||||||
Commercial operations were transferred to Amylin in the U.S. at the end of November 2011. Outside the U.S., we transferred to Amylin exenatide commercial rights and control in all markets during the first quarter of 2013. | ||||||||||||||||
Payments received from Amylin were allocated 65 percent to the U.S., which was treated as a contract termination, and 35 percent to the business outside the U.S., which was treated as the disposition of a business. The allocation was based upon relative fair values. The revenue-sharing income allocated to the U.S. was recognized as collaboration and other revenue, consistent with our policy for royalty revenue, while the income related to the prepayment of Amylin's obligation allocated to the U.S. was recognized in other-net, (income) expense. All income allocated to the business outside the U.S. that was transferred during the first quarter of 2013 was recognized as a gain on the disposition of a business in other-net, (income) expense, net of the goodwill allocated to the business transferred. | ||||||||||||||||
Prior to termination of the collaboration, we and Amylin were co-promoting Byetta in the United States. Amylin was responsible for manufacturing and primarily utilized third-party contract manufacturers to supply Byetta. We supplied Byetta pen delivery devices for Amylin and will continue to do so for a period that will not extend substantially beyond December 31, 2013. We were responsible for certain development costs related to certain clinical trials outside the U.S. that we were conducting as of the date of the termination agreement as well as commercialization costs outside the U.S. until the commercial rights were transferred to Amylin. | ||||||||||||||||
Under the terms of our prior arrangement, we reported as collaboration and other revenue our 50 percent share of gross margin on Amylin’s net product sales in the United States. We reported as net product sales 100 percent of sales outside the U.S. and our sales of Byetta pen delivery devices to Amylin. We paid Amylin a percentage of the gross margin of exenatide sales outside of the U.S., and these costs were recorded in cost of sales. This arrangement for the commercial operations outside the U.S. continued until those rights were transferred to Amylin during the first quarter of 2013. Prior to termination of the agreement, under the 50/50 profit-sharing arrangement for the U.S., in addition to recording as revenue our 50 percent share of exenatide’s gross margin, we also recorded approximately 50 percent of U.S.-related research and development costs and marketing and selling costs in the respective line items on the consolidated condensed statements of operations. | ||||||||||||||||
In accordance with the prior arrangement and pursuant to Amylin’s request, we loaned Amylin $165.0 million in the second quarter of 2011. This loan and related accrued interest were paid in full in August 2012. | ||||||||||||||||
The following table summarizes the revenue and other income recognized with respect to exenatide: | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Net product sales | $ | 28.6 | $ | 49.5 | $ | 113.7 | $ | 151.1 | ||||||||
Collaboration and other revenue | — | 4.7 | — | 70.1 | ||||||||||||
Total revenue | $ | 28.6 | $ | 54.2 | $ | 113.7 | $ | 221.2 | ||||||||
Income related to termination of the exenatide collaboration with Amylin (1) | $ | — | $ | 787.8 | $ | 495.4 | $ | 787.8 | ||||||||
1 Presented in other-net, (income) expense | ||||||||||||||||
Effient® | ||||||||||||||||
We are in a collaborative arrangement with Daiichi Sankyo Company, Limited (Daiichi Sankyo) to develop, market, and promote Effient. We and Daiichi Sankyo have agreed to co-promote in certain territories (including the U.S. and five major European markets), while we have exclusive marketing rights in certain other territories. Daiichi Sankyo has exclusive marketing rights in Japan and certain other territories. The parties share approximately 50/50 in the profits, as well as in the costs of development and marketing in the co-promotion territories. A third party manufactures bulk product, and we produce the finished product for our exclusive and co-promotion territories. We record product sales in our exclusive and co-promotion territories. In our exclusive territories, we pay Daiichi Sankyo a royalty specific to these territories. Profit-share payments made to Daiichi Sankyo are recorded as marketing, selling, and administrative expenses. All royalties paid to Daiichi Sankyo and the third-party manufacturer are recorded in cost of sales. Effient sales were $124.9 million and $109.7 million for the quarters ended September 30, 2013 and 2012, respectively, and $378.1 million and $336.6 million for the nine months ended September 30, 2013 and 2012, respectively. | ||||||||||||||||
Erbitux® | ||||||||||||||||
We have several collaborations with respect to Erbitux. The most significant collaborations are in the U.S., Japan, and Canada (Bristol-Myers Squibb Company); and worldwide except the U.S. and Canada (Merck KGaA). The agreements are expected to expire in 2018, upon which all of the rights with respect to Erbitux in the U.S. and Canada return to us and certain rights with respect to Erbitux outside the U.S. and Canada (excluding Japan) remain with Merck KGaA (Merck). | ||||||||||||||||
The following table summarizes the revenue recognized with respect to Erbitux: | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Net product sales | $ | 6.2 | $ | 6.2 | $ | 43.8 | $ | 69 | ||||||||
Collaboration and other revenue | 81 | 80.4 | 229.9 | 241 | ||||||||||||
Total revenue | $ | 87.2 | $ | 86.6 | $ | 273.7 | $ | 310 | ||||||||
Bristol-Myers Squibb Company | ||||||||||||||||
Pursuant to commercial agreements with Bristol-Myers Squibb Company and E.R. Squibb (collectively, BMS), relating to Erbitux, we are co-developing Erbitux in the U.S. and Canada with BMS, exclusively, and in Japan with BMS and Merck. Under these arrangements, Erbitux research and development and other costs are shared by both companies according to a predetermined ratio. | ||||||||||||||||
Responsibilities associated with clinical and other ongoing studies are apportioned between the parties under the agreements. Collaborative reimbursements received by us for supply of clinical trial materials; for research and development; and for a portion of marketing, selling, and administrative expenses are recorded as a reduction to the respective expense line items on the consolidated condensed statement of operations. We receive a distribution fee in the form of a royalty from BMS, based on a percentage of net sales in the U.S. and Canada, which is recorded in collaboration and other revenue. Royalty expense paid to third parties, net of any reimbursements received, is recorded as a reduction of collaboration and other revenue. | ||||||||||||||||
We are responsible for the manufacture and supply of all requirements of Erbitux in bulk-form active pharmaceutical ingredient (API) for clinical and commercial use in the U.S. and Canada, and BMS will purchase all of its requirements of API for commercial use from us, subject to certain stipulations in the agreement. Sales of Erbitux to BMS for commercial use are reported in net product sales. | ||||||||||||||||
Merck KGaA | ||||||||||||||||
A development and license agreement with Merck with respect to Erbitux granted Merck exclusive rights to market Erbitux outside of the U.S. and Canada, and a separate agreement grants co-exclusive rights with BMS and us in Japan. Merck also manufactures Erbitux for supply in its territory as well as for Japan. We receive a royalty on the sales of Erbitux outside of the U.S. and Canada, which is included in collaboration and other revenue as earned. Collaborative reimbursements received for research and development and for marketing, selling, and administrative expenses are recorded as a reduction to the respective expense line items on the consolidated condensed statement of operations. Royalty expense paid to third parties, net of any royalty reimbursements received, is recorded as a reduction of collaboration and other revenue. | ||||||||||||||||
Diabetes Collaboration | ||||||||||||||||
In January 2011, we and Boehringer Ingelheim entered into a global agreement to jointly develop and commercialize a portfolio of diabetes compounds. Currently, the compounds included in the collaboration are Boehringer Ingelheim’s two oral diabetes agents, linagliptin and empagliflozin, and our new insulin glargine product. Additionally, Boehringer Ingelheim may elect to opt in to the Phase III development and potential commercialization of our anti-TGF-beta monoclonal antibody. Under the terms of the global agreement, we made an initial one-time payment to Boehringer Ingelheim of $388.0 million and recorded an acquired in-process research and development (IPR&D) charge, which was included as expense in the first quarter of 2011 and was deductible for tax purposes. | ||||||||||||||||
Linagliptin was subsequently approved in 2011 and launched in the U.S. (trade name Tradjenta®), Japan (trade name Trazenta™), certain countries in Europe (trade name Trajenta®), and other countries. Currently, empagliflozin is under regulatory review in the U.S. and Europe, the new insulin glargine product is under regulatory review in Europe, and the anti-TGF-beta monoclonal antibody is in Phase II clinical testing. | ||||||||||||||||
In connection with the approval of linagliptin in the U.S., Japan, and Europe, in 2011 we paid $478.7 million in success-based regulatory milestones, all of which were capitalized as intangible assets and are being amortized to cost of sales. We incurred milestone-related expenses of $92.2 million in connection with regulatory submissions for empagliflozin in the U.S. and Europe during the first quarter of 2013. These regulatory submission milestones were recorded as research and development expenses. We may also pay up to 228.8 million euro in additional regulatory milestones for empagliflozin. In the future, we will be eligible to receive up to $290.0 million in success-based regulatory milestones on our new insulin glargine product. Should Boehringer Ingelheim elect to opt in to the Phase III development and potential commercialization of the anti-TGF-beta monoclonal antibody, we would be eligible for up to $525.0 million in opt-in and success-based regulatory milestone payments. The companies share ongoing development costs equally. The companies also share in the commercialization costs and gross margin for any product resulting from the collaboration that receives regulatory approval. We record our portion of the gross margin as collaboration and other revenue, and we record our portion of the commercialization costs as marketing, selling, and administrative expense. Each company will also be entitled to potential performance payments on sales of the molecules they contribute to the collaboration. Revenue related to this collaboration was $64.7 million and $22.8 million for the quarters ended September 30, 2013 and 2012, respectively, and $162.1 million and $48.7 million for the nine months ended September 30, 2013 and 2012, respectively. | ||||||||||||||||
Solanezumab | ||||||||||||||||
We have an agreement with an affiliate of TPG-Axon Capital (TPG) whereby TPG funded a portion of the Phase III development of solanezumab. Under the agreement, TPG’s obligation to fund solanezumab costs was not material and ended in the first half of 2011. In exchange for their funding, TPG may receive success-based sales milestones totaling approximately $70 million and mid-single digit royalties that are contingent upon the successful development of solanezumab. The royalties relating to solanezumab would be paid for approximately 10 years after launch of a product. | ||||||||||||||||
Baricitinib | ||||||||||||||||
In December 2009, we entered into a worldwide license and collaboration agreement with Incyte Corporation (Incyte) to acquire development and commercialization rights to its JAK inhibitor compound, now known as baricitinib, and certain follow-on compounds, for the treatment of inflammatory and autoimmune diseases. The agreement calls for payments of up to $515.0 million associated with certain development and regulatory milestones as well as an additional $150.0 million of potential sales-based milestones. Incyte also has the right to receive tiered, double-digit royalty payments on future global sales with rates ranging up to 20 percent if the product is successfully commercialized. The agreement provides Incyte with options to co-develop these compounds on an indication-by-indication basis by funding 30 percent of the associated development costs from the initiation of a Phase IIb trial through regulatory approval in exchange for increased tiered royalties ranging up to percentages in the high twenties. The agreement also provides Incyte with an option to co-promote in the United States. In 2010, Incyte exercised its option to co-develop baricitinib in rheumatoid arthritis. Upon initiation of Phase III trials for the treatment of rheumatoid arthritis in the fourth quarter of 2012, we incurred a milestone-related expense of $50.0 million which was recorded as research and development expense. | ||||||||||||||||
Tanezumab | ||||||||||||||||
In October 2013, we entered into a collaboration agreement with Pfizer Inc. (Pfizer) to jointly develop and globally commercialize tanezumab for the potential treatment of osteoarthritis, chronic low back pain and cancer pain. Tanezumab is currently in Phase III clinical trials and is subject to a partial clinical hold by the FDA pending submission of nonclinical data to the FDA. Pfizer anticipates submitting that data in the first half of 2014. Under the agreement, the companies share equally the ongoing development costs and, if successful, in gross margins and commercialization expenses. We will be obligated to pay an upfront fee of $200.0 million contingent upon the parties continuing in the collaboration after receipt of the FDA's response to the submission of the nonclinical data. This payment would be immediately expensed. In addition to this fee, we may pay up to $350.0 million in success-based regulatory milestones and up to $1.23 billion in a series of sales-based milestones, contingent upon the commercial success of tanezumab. Both parties have the right to terminate the agreement under certain circumstances. | ||||||||||||||||
Summary of Collaboration-Related Commission and Profit-Share Payments | ||||||||||||||||
The aggregate amount of commission and profit-share payments included in marketing, selling, and administrative expense pursuant to the collaborations described above was $50.5 million and $45.3 million for the quarters ended September 30, 2013 and 2012, respectively, and $151.0 million and $138.0 million for the nine months ended September 30, 2013 and 2012, respectively. | ||||||||||||||||
Amortization of Intangible Assets | ||||||||||||||||
We record, as finite-lived intangible assets, the cost of milestone payments associated with products approved for marketing, as well as the cost of rights to assets approved for marketing that were acquired in business combinations. We also record finite-lived intangible assets for the cost of licensed platform technologies that have alternative future uses in research and development; manufacturing technologies; and customer relationships from business combinations. Amortization expense related to these finite-lived intangibles was $132.2 million and $140.8 million for the quarters ended September 30, 2013 and 2012, respectively, and $423.5 million and $421.7 million for the nine months ended September 30, 2013 and 2012, respectively. |
Asset_Impairments_Restructurin
Asset Impairments, Restructuring, and Other Special Charges | 9 Months Ended |
Sep. 30, 2013 | |
Extraordinary and Unusual Items [Abstract] | |
Unusual or Infrequent Items Disclosure [Text Block] | Note 5: Asset Impairments, Restructuring, and Other Special Charges |
There were no asset impairments, restructuring, and other special charges recognized in the quarter ended September 30, 2013 compared to $53.3 million during the same period in 2012. For the nine months ended September 30, 2013, we recognized $85.2 million of asset impairments, restructuring, and other special charges compared to $77.1 million during the same period in 2012. The 2013 charges related primarily to costs associated with the anticipated closure of a packaging and distribution facility in Germany and severance costs for actions the company is taking, primarily outside the U.S., to reduce its cost structure and global workforce. The 2012 charges related primarily to the recognition of an asset impairment resulting from the decision to stop development of a delivery device platform during the third quarter, and a charge in the first quarter of 2012 resulting from a change in our estimates of returned product related to the withdrawal of XigrisTM from the market during the fourth quarter of 2011. |
Financial_Instruments
Financial Instruments | 9 Months Ended | |||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||||
Financial Instruments [Text Block] | Note 6: Financial Instruments | |||||||||||||||||||||
Financial instruments that potentially subject us to credit risk consist principally of trade receivables and interest-bearing investments. Wholesale distributors of life-sciences products account for a substantial portion of trade receivables; collateral is generally not required. The risk associated with this concentration is mitigated by our ongoing credit-review procedures and insurance. A large portion of our cash is held by a few major financial institutions. We monitor our exposures with these institutions and do not expect any of these institutions to fail to meet their obligations. Major financial institutions represent the largest component of our investments in corporate debt securities. In accordance with documented corporate policies, we limit the amount of credit exposure to any one financial institution or corporate issuer. We are exposed to credit-related losses in the event of nonperformance by counterparties to risk-management instruments but do not expect any counterparties to fail to meet their obligations given their high credit ratings. | ||||||||||||||||||||||
Accounting Policy for Risk-Management Instruments | ||||||||||||||||||||||
Our derivative activities are initiated within the guidelines of documented corporate risk-management policies and do not create additional risk because gains and losses on derivative contracts offset losses and gains on the assets, liabilities, and transactions being hedged. As derivative contracts are initiated, we designate the instruments individually as either a fair value hedge or a cash flow hedge. Management reviews the correlation and effectiveness of our derivatives on a quarterly basis. | ||||||||||||||||||||||
For derivative contracts that are designated and qualify as fair value hedges, the derivative instrument is marked to market with gains and losses recognized currently in income to offset the respective losses and gains recognized on the underlying exposure. For derivative contracts that are designated and qualify as cash flow hedges, the effective portion of gains and losses on these contracts is reported as a component of accumulated other comprehensive loss and reclassified into earnings in the same period the hedged transaction affects earnings. Hedge ineffectiveness is immediately recognized in earnings. Derivative contracts that are not designated as hedging instruments are recorded at fair value with the gain or loss recognized currently in earnings during the period of change. | ||||||||||||||||||||||
We may enter into foreign currency forward contracts to reduce the effect of fluctuating currency exchange rates (principally the euro, the British pound, and the Japanese yen). Foreign currency derivatives used for hedging are put in place using the same or like currencies and duration as the underlying exposures. Forward contracts are principally used to manage exposures arising from subsidiary trade and loan payables and receivables denominated in foreign currencies. These contracts are recorded at fair value with the gain or loss recognized in other–net, (income) expense. We may enter into foreign currency forward contracts and currency swaps as fair value hedges of firm commitments. Forward contracts generally have maturities not exceeding 12 months. At September 30, 2013, we had outstanding foreign currency forward commitments to purchase 872.3 million U.S. dollars and sell 651.7 million euro, commitments to purchase 287.3 million euro and sell 388.6 million U.S. dollars, commitments to purchase 362.3 million U.S. dollars and sell 35.83 billion Japanese yen, which will all settle within 30 days. | ||||||||||||||||||||||
In the normal course of business, our operations are exposed to fluctuations in interest rates. These fluctuations can vary the costs of financing, investing, and operating. We address a portion of these risks through a controlled program of risk management that includes the use of derivative financial instruments. The objective of controlling these risks is to limit the impact of fluctuations in interest rates on earnings. Our primary interest-rate risk exposure results from changes in short-term U.S. dollar interest rates. In an effort to manage interest-rate exposures, we strive to achieve an acceptable balance between fixed- and floating-rate debt and investment positions and may enter into interest rate swaps or collars to help maintain that balance. | ||||||||||||||||||||||
Interest rate swaps or collars that convert our fixed-rate debt to a floating rate are designated as fair value hedges of the underlying instruments. Interest rate swaps or collars that convert floating-rate debt to a fixed rate are designated as cash flow hedges. Interest expense on the debt is adjusted to include the payments made or received under the swap agreements. At September 30, 2013, substantially all of our total debt is at a fixed rate. We have converted approximately 60 percent of our fixed-rate debt to floating rates through the use of interest rate swaps. | ||||||||||||||||||||||
We may enter into forward contracts and designate them as cash flow hedges to limit the potential volatility of earnings and cash flow associated with forecasted sales of available-for-sale securities. | ||||||||||||||||||||||
We may enter into forward-starting interest rate swaps as part of any anticipated future debt issuances. Upon completion of a debt issuance and termination of the swap, the change in fair value of these instruments is recorded as part of other comprehensive income (loss) and is amortized to interest expense over the life of the debt agreement. During the third quarter of 2013, in order to reduce the risk of cash flow volatility from future changes in interest rates, we entered into forward-starting interest rate swaps with a notional amount of $400.0 million and maturities not exceeding 30 years to hedge a portion of the cash flows associated with the planned refinancing of our $1.00 billion March 2014 debt maturity. | ||||||||||||||||||||||
The Effect of Risk-Management Instruments on the Consolidated Condensed Statement of Operations | ||||||||||||||||||||||
The following effects of risk-management instruments were recognized in other–net, (income) expense: | ||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||
Fair value hedges: | ||||||||||||||||||||||
Effect from hedged fixed-rate debt | $ | 31.3 | $ | 12.1 | $ | 244.6 | $ | 43.8 | ||||||||||||||
Effect from interest rate contracts | (31.3 | ) | (12.1 | ) | (244.6 | ) | (43.8 | ) | ||||||||||||||
Cash flow hedges: | ||||||||||||||||||||||
Effective portion of losses on interest rate contracts reclassified from accumulated other comprehensive loss | 2.3 | 2.3 | 6.7 | 6.7 | ||||||||||||||||||
Net (gains) losses on foreign currency exchange contracts not designated as hedging instruments | 33.9 | (23.7 | ) | 26.4 | (38.5 | ) | ||||||||||||||||
For equity contracts in designated cash flow hedging relationships, the effective portion of net losses recorded in other comprehensive income (loss) was $33.0 million and $41.9 million for the three and nine months ended September 30, 2013, respectively. There were no equity contracts in designated cash flow hedging relationships in 2012. | ||||||||||||||||||||||
During the next 12 months, we expect to reclassify from accumulated other comprehensive loss to earnings $8.8 million of pretax net losses on cash flow hedges of the variability in expected future interest payments on our floating rate debt. | ||||||||||||||||||||||
During the three and nine months ended September 30, 2013 and 2012, net losses related to ineffectiveness, as well as net losses related to the portion of our risk-management hedging instruments, fair value hedges, and cash flow hedges that were excluded from the assessment of effectiveness, were not material. | ||||||||||||||||||||||
Fair Value of Financial Instruments | ||||||||||||||||||||||
The following tables summarize certain fair value information at September 30, 2013 and December 31, 2012 for assets and liabilities measured at fair value on a recurring basis, as well as the carrying amount and amortized cost of certain other investments: | ||||||||||||||||||||||
Fair Value Measurements Using | ||||||||||||||||||||||
Description | Carrying | Amortized | Quoted Prices in Active Markets for Identical Assets | Significant Other | Significant | Fair | ||||||||||||||||
Amount | Cost | (Level 1) | Observable Inputs | Unobservable | Value | |||||||||||||||||
(Level 2) | Inputs | |||||||||||||||||||||
(Level 3) | ||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||
Cash and cash equivalents | $ | 4,368.90 | $ | 4,368.90 | $ | 4,315.20 | $ | 53.7 | $ | $ | 4,368.90 | |||||||||||
Short-term investments: | ||||||||||||||||||||||
U.S. government and agencies | $ | 162.2 | $ | 162.1 | $ | 162.2 | $ | $ | $ | 162.2 | ||||||||||||
Corporate debt securities | 843.2 | 841.2 | 843.2 | 843.2 | ||||||||||||||||||
Other securities | 5 | 5 | 5 | 5 | ||||||||||||||||||
Short-term investments | $ | 1,010.40 | $ | 1,008.30 | ||||||||||||||||||
Noncurrent investments: | ||||||||||||||||||||||
U.S. government and agencies | $ | 1,131.90 | $ | 1,138.60 | $ | 1,045.60 | $ | 86.3 | $ | $ | 1,131.90 | |||||||||||
Corporate debt securities | 4,508.10 | 4,513.40 | 4,508.10 | 4,508.10 | ||||||||||||||||||
Mortgage-backed | 588.1 | 603.5 | 588.1 | 588.1 | ||||||||||||||||||
Asset-backed | 359 | 363.6 | 359 | 359 | ||||||||||||||||||
Other securities | 7.4 | 8.2 | 7.4 | 7.4 | ||||||||||||||||||
Marketable equity | 370.8 | 139.8 | 370.8 | 370.8 | ||||||||||||||||||
Equity method and other investments(1) | 254.9 | 254.9 | ||||||||||||||||||||
Noncurrent investments | $ | 7,220.20 | $ | 7,022.00 | ||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||
Cash and cash equivalents | $ | 4,018.80 | $ | 4,018.80 | $ | 3,964.40 | $ | 54.4 | $ | $ | 4,018.80 | |||||||||||
Short-term investments: | ||||||||||||||||||||||
U.S. government and agencies | $ | 150.2 | $ | 150.2 | $ | 150.2 | $ | $ | $ | 150.2 | ||||||||||||
Corporate debt securities | 1,503.50 | 1,501.50 | 1,503.50 | 1,503.50 | ||||||||||||||||||
Other securities | 11.8 | 11.8 | 11.8 | 11.8 | ||||||||||||||||||
Short-term investments | $ | 1,665.50 | $ | 1,663.50 | ||||||||||||||||||
Noncurrent investments: | ||||||||||||||||||||||
U.S. government and agencies | $ | 1,362.70 | $ | 1,360.30 | $ | 1,122.40 | $ | 240.3 | $ | $ | 1,362.70 | |||||||||||
Corporate debt securities | 3,351.30 | 3,322.90 | 3,351.30 | 3,351.30 | ||||||||||||||||||
Mortgage-backed | 668.1 | 677.7 | 668.1 | 668.1 | ||||||||||||||||||
Asset-backed | 519 | 523.5 | 519 | 519 | ||||||||||||||||||
Other securities | 3.3 | 3.3 | 3.3 | 3.3 | ||||||||||||||||||
Marketable equity | 175.8 | 83 | 175.8 | 175.8 | ||||||||||||||||||
Equity method and other investments(1) | 233.1 | 233.1 | ||||||||||||||||||||
Noncurrent investments | $ | 6,313.30 | $ | 6,203.80 | ||||||||||||||||||
1 Fair value not applicable | ||||||||||||||||||||||
Fair Value Measurements Using | ||||||||||||||||||||||
Description | Carrying | Quoted Prices in Active Markets for Identical Assets | Significant | Significant | Fair | |||||||||||||||||
Amount | (Level 1) | Other Observable Inputs | Unobservable | Value | ||||||||||||||||||
(Level 2) | Inputs | |||||||||||||||||||||
(Level 3) | ||||||||||||||||||||||
Long-term debt, including current portion | ||||||||||||||||||||||
September 30, 2013 | $ | (5,282.9 | ) | $ | $ | (5,570.2 | ) | $ | $ | (5,570.2 | ) | |||||||||||
31-Dec-12 | (5,531.3 | ) | (5,996.6 | ) | (5,996.6 | ) | ||||||||||||||||
Fair Value Measurements Using | ||||||||||||||||||||||
Description | Carrying | Quoted Prices in Active Markets for Identical Assets | Significant | Significant | Fair | |||||||||||||||||
Amount | (Level 1) | Other Observable Inputs | Unobservable | Value | ||||||||||||||||||
(Level 2) | Inputs | |||||||||||||||||||||
(Level 3) | ||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||
Risk-management instruments | ||||||||||||||||||||||
Interest rate contracts designated as hedging instruments: | ||||||||||||||||||||||
Other receivables | $ | 11.3 | $ | $ | 11.3 | $ | $ | 11.3 | ||||||||||||||
Sundry | 336.6 | 336.6 | 336.6 | |||||||||||||||||||
Other current liabilities | (4.3 | ) | (4.3 | ) | (4.3 | ) | ||||||||||||||||
Foreign exchange contracts not designated as hedging instruments: | ||||||||||||||||||||||
Other receivables | 3.7 | 3.7 | 3.7 | |||||||||||||||||||
Other current liabilities | (15.4 | ) | (15.4 | ) | (15.4 | ) | ||||||||||||||||
Equity contracts designated as hedging instruments: | ||||||||||||||||||||||
Other current liabilities | (37.5 | ) | (37.5 | ) | (37.5 | ) | ||||||||||||||||
Other noncurrent liabilities | (4.4 | ) | (4.4 | ) | (4.4 | ) | ||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||
Risk-management instruments | ||||||||||||||||||||||
Interest rate contracts designated as hedging instruments: | ||||||||||||||||||||||
Sundry | $ | 589.4 | $ | $ | 589.4 | $ | $ | 589.4 | ||||||||||||||
Foreign exchange contracts not designated as hedging instruments: | ||||||||||||||||||||||
Other receivables | 11 | 11 | 11 | |||||||||||||||||||
Other current liabilities | (17.5 | ) | (17.5 | ) | (17.5 | ) | ||||||||||||||||
Risk-management instruments above are disclosed on a gross basis. There are various rights of setoff associated with certain of the risk-management instruments above that are subject to an enforceable master netting arrangement or similar agreements. Although various rights of setoff and master netting arrangements or similar agreements may exist with the individual counterparties to the risk-management instruments above, individually, these financial rights are not material. | ||||||||||||||||||||||
We determine fair values based on a market approach using quoted market values, significant other observable inputs for identical or comparable assets or liabilities, or discounted cash flow analyses. The fair value of equity method investments and other investments is not readily available. | ||||||||||||||||||||||
The table below summarizes the contractual maturities of our investments in debt securities measured at fair value as of September 30, 2013: | ||||||||||||||||||||||
Maturities by Period | ||||||||||||||||||||||
Total | Less Than | 5-Jan | 10-Jun | More Than | ||||||||||||||||||
1 Year | Years | Years | 10 Years | |||||||||||||||||||
Fair value of debt securities | $ | 7,600.50 | $ | 1,010.40 | $ | 5,437.40 | $ | 451 | $ | 701.7 | ||||||||||||
A summary of the fair value of available-for-sale securities in an unrealized gain or loss position and the amount of unrealized gains and losses (pretax) in accumulated other comprehensive loss follows: | ||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||
Unrealized gross gains | $ | 259.6 | $ | 140.5 | ||||||||||||||||||
Unrealized gross losses | 59.3 | 29 | ||||||||||||||||||||
Fair value of securities in an unrealized gain position | 4,289.10 | 5,246.00 | ||||||||||||||||||||
Fair value of securities in an unrealized loss position | 3,435.90 | 2,102.00 | ||||||||||||||||||||
Other-than-temporary impairment losses on investment securities of $5.2 million were recognized in the statement of operations for the nine months ended September 30, 2013. No charges were recognized during the third quarter of 2013. Other-than-temporary impairment losses on investment securities of $0.8 million and $8.2 million were recognized in the statement of operations for the third quarter and first nine months of 2012, respectively. For fixed-income securities, the amount of credit losses represents the difference between the present value of cash flows expected to be collected on these securities and the amortized cost. Factors considered in assessing the credit loss were the position in the capital structure, vintage and amount of collateral, delinquency rates, current credit support, and geographic concentration. | ||||||||||||||||||||||
The securities in an unrealized loss position include fixed-rate debt securities of varying maturities. The value of fixed-income securities is sensitive to changes in the yield curve and other market conditions. Approximately 90 percent of the securities in a loss position are investment-grade debt securities. At this time, there is no indication of default on interest or principal payments for debt securities other than those for which an other-than-temporary impairment charge has been recorded. We do not intend to sell and it is not more likely than not we will be required to sell the securities in a loss position before the market values recover or the underlying cash flows have been received, and we have concluded that no additional other-than-temporary loss is required to be charged to earnings as of September 30, 2013. | ||||||||||||||||||||||
Activity related to our investment portfolio, substantially all of which related to available-for-sale securities, was as follows: | ||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||
Proceeds from sales | $ | 2,785.50 | $ | 1,698.80 | $ | 10,230.60 | $ | 5,334.10 | ||||||||||||||
Realized gross gains on sales | 3.6 | 43.1 | 41.8 | 70 | ||||||||||||||||||
Realized gross losses on sales | 4.2 | 2.2 | 12.1 | 7.4 | ||||||||||||||||||
Realized gains and losses on sales of investments are computed based upon specific identification of the initial cost adjusted for any other-than-temporary declines in fair value that were recorded in earnings. |
StockBased_Compensation
Stock-Based Compensation | 9 Months Ended |
Sep. 30, 2013 | |
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract] | |
Stock-Based Compensation [Text Block] | Note 7: Stock-Based Compensation |
Our stock-based compensation expense consists primarily of performance awards (PAs), shareholder value awards (SVAs), and restricted stock units (RSUs). We recognized pretax stock-based compensation expense of $36.2 million and $34.4 million for the quarters ended September 30, 2013 and 2012, respectively. During the first nine months of 2013 and 2012, we recognized pretax stock-based compensation expense of $105.1 million and $100.3 million, respectively. | |
PAs are granted to officers and management and are payable in shares of our common stock. The number of PA shares actually issued, if any, varies depending on the achievement of certain earnings per share targets over a two-year period. PA shares are accounted for at fair value based upon the closing stock price on the date of grant and fully vest at the end of the measurement period. As of September 30, 2013, the total remaining unrecognized compensation cost related to nonvested PAs amounted to $27.7 million, which will be amortized over the weighted-average remaining requisite service period of approximately 13 months. | |
SVAs are granted to officers and management and are payable in shares of common stock at the end of a three-year period. The number of shares actually issued varies depending on our stock price at the end of the three-year vesting period compared to pre-established target prices. We measure the fair value of the SVA unit on the grant date using a Monte Carlo simulation model. The Monte Carlo simulation model utilizes multiple input variables that determine the probability of satisfying the market condition stipulated in the award grant and calculates the fair value of the award. As of September 30, 2013, the total remaining unrecognized compensation cost related to nonvested SVAs amounted to $64.5 million, which will be amortized over the weighted-average remaining requisite service period of approximately 22 months. | |
RSUs are granted to certain employees and are payable in shares of our common stock. RSU shares are accounted for at fair value based upon the closing stock price on the date of grant. The corresponding expense is amortized over the vesting period, typically three years. As of September 30, 2013, the total remaining unrecognized compensation cost related to nonvested RSUs amounted to $70.9 million, which will be amortized over the weighted-average remaining requisite service period of 23 months. |
Shareholders_Equity
Shareholders' Equity | 9 Months Ended |
Sep. 30, 2013 | |
Equity, Class of Treasury Stock [Line Items] | |
Stockholders' Equity Note Disclosure [Text Block] | Note 8: Shareholders’ Equity |
During the first quarter of 2013, we purchased the remaining $1.10 billion of shares associated with our previously announced $1.50 billion share repurchase program. In October 2013, we announced a new $5.00 billion share repurchase program |
Earnings_Per_Share
Earnings Per Share | 9 Months Ended |
Sep. 30, 2013 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | Note 9: Earnings Per Share |
Unless otherwise noted in the footnotes, all per-share amounts are presented on a diluted basis, that is, based on the weighted-average number of outstanding common shares plus the effect of all potentially dilutive common shares (primarily contingently issuable shares and unexercised stock options). |
Income_Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2013 | |
Income Tax Disclosure [Abstract] | |
Income Taxes [Text Block] | Note 10: Income Taxes |
We file income tax returns in the U.S. federal jurisdiction and various state, local, and non-U.S. jurisdictions. We are no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations in most major taxing jurisdictions for years before 2007. | |
During the third quarter, we reached resolution on the remaining matters related to tax years 2008–2009 that were not settled as part of a previous examination. As a result of this resolution, our gross unrecognized tax benefits were reduced by approximately $630 million. Considering the impact of this resolution on periods that have not yet been examined, as well as its impact on tax asset carryforwards, there was an immaterial benefit to our consolidated condensed results of operations. We made cash payments of approximately $135 million related to tax years 2008–2009 after application of available tax credit carryforwards and carrybacks. | |
We expect the U.S. examinations related to tax years 2010-2012 will commence during the fourth quarter of 2013. |
Retirement_Benefits
Retirement Benefits | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] | ||||||||||||||||
Retirement Benefits [Text Block] | Note 11: Retirement Benefits | |||||||||||||||
Net pension and retiree health benefit expense included the following components: | ||||||||||||||||
Defined Benefit Pension Plans | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Components of net periodic benefit cost: | ||||||||||||||||
Service cost | $ | 71.5 | $ | 66.7 | $ | 212.3 | $ | 193.8 | ||||||||
Interest cost | 110 | 113 | 328.3 | 338.7 | ||||||||||||
Expected return on plan assets | (176.1 | ) | (171.2 | ) | (525.8 | ) | (512.6 | ) | ||||||||
Amortization of prior service cost | 1 | 0.8 | 3 | 2.5 | ||||||||||||
Recognized actuarial loss | 103.8 | 71.4 | 302.2 | 213.3 | ||||||||||||
Net periodic benefit cost | $ | 110.2 | $ | 80.7 | $ | 320 | $ | 235.7 | ||||||||
Retiree Health Benefit Plans | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Components of net periodic benefit cost: | ||||||||||||||||
Service cost | $ | 15 | $ | 16.1 | $ | 45.2 | $ | 48.4 | ||||||||
Interest cost | 23.4 | 28.6 | 70.1 | 85.6 | ||||||||||||
Expected return on plan assets | (32.8 | ) | (31.8 | ) | (98.3 | ) | (95.4 | ) | ||||||||
Amortization of prior service cost | (9.2 | ) | (8.8 | ) | (22.0 | ) | (26.3 | ) | ||||||||
Recognized actuarial loss | 25.7 | 24.6 | 71.9 | 72.9 | ||||||||||||
Net periodic benefit cost | $ | 22.1 | $ | 28.7 | $ | 66.9 | $ | 85.2 | ||||||||
On a global basis, we have contributed approximately $55 million required to satisfy minimum funding requirements to our defined benefit pension plans in 2013. In addition, we have contributed approximately $300 million of discretionary funding to our global post-retirement benefit plans in 2013. During the remainder of 2013, we expect to make contributions to our defined benefit pension plans of approximately $5 million to satisfy minimum funding requirements. We do not anticipate making any additional discretionary contributions in 2013. |
Contingencies
Contingencies | 9 Months Ended |
Sep. 30, 2013 | |
Loss Contingency, Information about Litigation Matters [Abstract] | |
Contingencies [Text Block] | Note 12: Contingencies |
We are a party to various legal actions and government investigations. The most significant of these are described below. It is not possible to determine the outcome of these matters and we cannot reasonably estimate the maximum potential exposure or the range of possible loss in excess of amounts accrued for any of these matters; however, we believe that, except as noted below with respect to the Alimta® Hatch-Waxman patent challenges, the resolution of all such matters will not have a material adverse effect on our consolidated financial position or liquidity, but could possibly be material to our consolidated results of operations in any one accounting period. | |
Alimta Patent Litigation and Administrative Proceedings | |
We are engaged in various U.S. patent litigation matters involving Alimta brought pursuant to procedures set out in the Drug Price Competition and Patent Term Restoration Act of 1984 (the Hatch-Waxman Act). Teva Parenteral Medicines, Inc. (Teva); APP Pharmaceuticals, LLC (APP); Barr Laboratories, Inc. (Barr); Pliva Hrvatska D.O.O. (Pliva); Accord Healthcare Inc. (Accord); and Apotex Inc. (Apotex) each submitted Abbreviated New Drug Applications (ANDAs) seeking approval to market generic versions of Alimta prior to the expiration of our vitamin dosage regimen patent (expiring in 2022) and alleging the patent is invalid. | |
In October 2010, we filed a lawsuit in the U.S. District Court for the Southern District of Indiana against Teva, APP, Pliva, and Barr seeking rulings that the patent is valid and infringed. The trial occurred in August 2013, and we are awaiting a decision. In January 2012 and April 2012, we filed similar lawsuits in the same court against Accord and Apotex, respectively. A second lawsuit against Accord was filed in February 2013. In September 2013, we filed a similar lawsuit in the same court against Sun Pharmaceutical Industries, Ltd. and Sun Pharma Global seeking a ruling that Lilly's patent is valid and infringed. The Accord and Apotex cases have been consolidated and stayed by the court and the parties have agreed to be bound by the outcome of the Teva/APP litigation. In June 2013, Accord filed a petition requesting review of the patent by the U.S. Patent and Trademark Office, which was denied in October 2013. In addition, generic manufacturers have opposed the European Patent Office's decision to grant a vitamin dosage regimen patent, and are seeking revocation of that patent. | |
We believe the challenges to these patents are without merit and expect to prevail. However, it is not possible to determine the outcome of the challenges, and accordingly, we can provide no assurance that we will prevail. An unfavorable outcome could have a material adverse impact on our future consolidated results of operations, liquidity, and financial position. We expect that a loss of exclusivity for Alimta would result in a rapid and severe decline in future revenues in the relevant market. | |
Byetta Product Liability Litigation | |
We have been named as a defendant in approximately 235 Byetta product liability lawsuits involving approximately 650 plaintiffs. Approximately 85 of these lawsuits, covering about 455 plaintiffs, are filed in California and coordinated in a Los Angeles Superior Court. We are aware of approximately 460 additional claimants who have not yet filed suit. The majority of the claims allege damages for pancreatitis. Approximately 150 lawsuits have been filed involving approximately 210 plaintiffs who have alleged that Byetta caused or contributed to their cancer. We believe these claims are without merit and are prepared to defend against them vigorously. | |
Diethylstilbestrol Product Liability Litigation | |
We have been named as a defendant in fewer than 10 U.S. lawsuits involving fewer than 10 claimants seeking to recover damages for health issues experienced by children or grandchildren of women who were prescribed diethylstilbestrol (DES) during pregnancy in the 1950s and 1960s. We believe these claims are without merit and are prepared to defend against them vigorously. | |
Prozac® Product Liability Litigation | |
We have been named as a defendant in approximately 10 U.S. lawsuits primarily related to allegations that the antidepressant Prozac caused or contributed to birth defects in the children of women who ingested the drug during pregnancy. We are aware of approximately 410 additional claims related to birth defects, which have not yet been filed. We believe these claims are without merit and are prepared to defend against them vigorously. | |
Brazil–Employee Litigation | |
We have been named in a lawsuit brought by the Labor Attorney for 15th Region in the Labor Court of Paulinia, State of Sao Paulo, Brazil, alleging possible harm to employees and former employees caused by exposure to heavy metals at a former Lilly manufacturing facility in Cosmopolis, Brazil. Final arguments were submitted in September and we are awaiting a decision. We have also been named in approximately 30 lawsuits filed in the same court by individual former employees making similar claims. We believe these lawsuits are without merit and are prepared to defend against them vigorously. | |
Product Liability Insurance | |
Because of the nature of pharmaceutical products, it is possible that we could become subject to large numbers of product liability and related claims in the future. In the past several years, we have been unable to obtain product liability insurance due to a very restrictive insurance market. Therefore, for substantially all of our currently marketed products, we have been and expect that we will continue to be completely self-insured for product liability losses. The DES claims are covered by insurance, subject to deductibles and coverage limits. There is no assurance that we will be able to fully collect from our insurance carriers in the future. |
Other_Comprehensive_Income_Los
Other Comprehensive Income (Loss) (Notes) | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Comprehensive Income (Loss) Note [Text Block] | Note 13: Other Comprehensive Income (Loss) | |||||||||||||||||||
The following table summarizes the activity related to each component of other comprehensive income (loss) during the three months ended September 30, 2013: | ||||||||||||||||||||
(Amounts presented net of taxes) | Foreign Currency Translation Gains (Losses) | Unrealized Net Gains (Losses) on Securities | Defined Benefit Pension and Retiree Health Benefit Plans | Effective Portion of Cash Flow Hedges | Accumulated Other Comprehensive Loss | |||||||||||||||
Balance at July 1, 2013 | $ | 92.9 | $ | 67 | $ | (4,005.2 | ) | $ | (103.4 | ) | $ | (3,948.7 | ) | |||||||
Other comprehensive income (loss) before reclassifications | 289.7 | 62.8 | (27.5 | ) | (22.7 | ) | 302.3 | |||||||||||||
Net amount reclassified from accumulated other comprehensive loss | — | 0.4 | 80.4 | 1.5 | 82.3 | |||||||||||||||
Net other comprehensive income (loss) | 289.7 | 63.2 | 52.9 | (21.2 | ) | 384.6 | ||||||||||||||
Balance at September 30, 2013 | $ | 382.6 | $ | 130.2 | $ | (3,952.3 | ) | $ | (124.6 | ) | $ | (3,564.1 | ) | |||||||
The following table summarizes the activity related to each component of other comprehensive income (loss) during the nine months ended September 30, 2013: | ||||||||||||||||||||
(Amounts presented net of taxes) | Foreign Currency Translation Gains (Losses) | Unrealized Net Gains (Losses) on Securities | Defined Benefit Pension and Retiree Health Benefit Plans | Effective Portion of Cash Flow Hedges | Accumulated Other Comprehensive Loss | |||||||||||||||
Balance at January 1, 2013 | $ | 426.8 | $ | 72.5 | $ | (4,195.2 | ) | $ | (101.2 | ) | $ | (3,797.1 | ) | |||||||
Other comprehensive income (loss) before reclassifications | (44.2 | ) | 61.1 | 10.2 | (27.8 | ) | (0.7 | ) | ||||||||||||
Net amount reclassified from accumulated other comprehensive loss | — | (3.4 | ) | 232.7 | 4.4 | 233.7 | ||||||||||||||
Net other comprehensive income (loss) | (44.2 | ) | 57.7 | 242.9 | (23.4 | ) | 233 | |||||||||||||
Balance at September 30, 2013 | $ | 382.6 | $ | 130.2 | $ | (3,952.3 | ) | $ | (124.6 | ) | $ | (3,564.1 | ) | |||||||
The tax effect on the unrealized net gains on securities was an expense of $32.9 million and $31.1 million for the third quarter and first nine months of 2013, respectively. The tax effect related to our defined benefit pension and retiree health benefit plans was an expense of $48.1 million and $137.2 million for the third quarter and first nine months of 2013, respectively. The tax effect on the effective portion of cash flow hedges was not significant for the third quarter and first nine months of 2013. Income taxes are not provided for foreign currency translation. | ||||||||||||||||||||
Reclassifications Out of Accumulated Other Comprehensive Loss | ||||||||||||||||||||
Details about Accumulated Other | Three Months Ended | Nine Months Ended | Affected Line Item in the Consolidated Condensed Statements of Operations | |||||||||||||||||
Comprehensive Loss Components | 30-Sep-13 | 30-Sep-13 | ||||||||||||||||||
Amortization of defined pension benefit items: | ||||||||||||||||||||
Prior service costs | $ | 8.2 | $ | 19 | (1) | |||||||||||||||
Actuarial gains (losses) | (129.5 | ) | (374.1 | ) | (1) | |||||||||||||||
Total before tax | (121.3 | ) | (355.1 | ) | ||||||||||||||||
Tax benefit | 40.9 | 122.4 | ||||||||||||||||||
Net of tax | (80.4 | ) | (232.7 | ) | ||||||||||||||||
Other, net of tax | (1.9 | ) | (1.0 | ) | Other—net, (income) expense | |||||||||||||||
Total reclassifications for the period (net of tax) | $ | (82.3 | ) | $ | (233.7 | ) | ||||||||||||||
1 | These accumulated other comprehensive loss components are included in the computation of net periodic pension cost (see Note 11). |
OtherNet_Expense_Income
Other-Net, Expense (Income) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Nonoperating Income (Expense) [Abstract] | ||||||||||||||||
Other - Net, Expense (Income) [Text Block] | Note 14: Other–Net, (Income) Expense | |||||||||||||||
Other–net, (income) expense consisted of the following: | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Income related to termination of the exenatide collaboration with Amylin (Note 4) | $ | — | $ | (787.8 | ) | $ | (495.4 | ) | $ | (787.8 | ) | |||||
Interest expense | 39.8 | 47 | 120.4 | 135.3 | ||||||||||||
Interest income | (32.2 | ) | (25.7 | ) | (85.5 | ) | (79.0 | ) | ||||||||
Other | 23.7 | (22.0 | ) | (49.3 | ) | 5.5 | ||||||||||
Other–net, (income) expense | $ | 31.3 | $ | (788.5 | ) | $ | (509.8 | ) | $ | (726.0 | ) | |||||
Other–net, (income) expense was an expense of $31.3 million and income of $509.8 million for the third quarter and the first nine months of 2013, respectively. Comparisons to the same periods in 2012 are largely affected by income of $495.4 million and $787.8 million recognized in the first quarter of 2013 and the third quarter of 2012, respectively, related to the termination of the exenatide collaboration with Amylin. See Note 4 for additional information. |
Segment_Information
Segment Information | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||||
Segment Reporting Disclosure [Text Block] | Note 15: Segment Information | |||||||||||||||
We operate in two business segments—human pharmaceutical products and animal health. Our business segments are distinguished by the ultimate end user of the product—humans or animals. Performance is evaluated based on profit or loss from operations before income taxes. | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Segment revenue — to unaffiliated customers: | ||||||||||||||||
Human pharmaceutical products: | ||||||||||||||||
Neuroscience | $ | 1,878.10 | $ | 1,815.80 | $ | 5,731.50 | $ | 5,544.00 | ||||||||
Endocrinology | 1,764.70 | 1,646.10 | 5,273.90 | 5,041.20 | ||||||||||||
Oncology | 821.8 | 791.7 | 2,394.10 | 2,442.40 | ||||||||||||
Cardiovascular | 715.6 | 650.9 | 2,140.90 | 1,936.40 | ||||||||||||
Other pharmaceuticals | 62.1 | 59.4 | 190.8 | 199.6 | ||||||||||||
Total human pharmaceutical products | 5,242.30 | 4,963.90 | 15,731.20 | 15,163.60 | ||||||||||||
Animal health | 530.3 | 479.4 | 1,573.10 | 1,482.40 | ||||||||||||
Total segment revenue | $ | 5,772.60 | $ | 5,443.30 | $ | 17,304.30 | $ | 16,646.00 | ||||||||
Segment profits: | ||||||||||||||||
Human pharmaceutical products | $ | 1,362.50 | $ | 1,034.20 | $ | 4,141.40 | $ | 3,315.00 | ||||||||
Animal health | 150.9 | 106 | 427.8 | 370 | ||||||||||||
Total segment profits | $ | 1,513.40 | $ | 1,140.20 | $ | 4,569.20 | $ | 3,685.00 | ||||||||
Reconciliation of total segment profits to consolidated income before taxes: | ||||||||||||||||
Segment profits | $ | 1,513.40 | $ | 1,140.20 | $ | 4,569.20 | $ | 3,685.00 | ||||||||
Other profits (losses): | ||||||||||||||||
Income related to termination of the exenatide collaboration with Amylin (Note 4) | — | 787.8 | 495.4 | 787.8 | ||||||||||||
Asset impairments, restructuring, and other special charges (Note 5) | — | (53.3 | ) | (85.2 | ) | (77.1 | ) | |||||||||
Total consolidated income before taxes | $ | 1,513.40 | $ | 1,874.70 | $ | 4,979.40 | $ | 4,395.70 | ||||||||
For internal management reporting presented to the chief operating decision maker, certain costs are fully allocated to our human pharmaceutical products segment and therefore are not reflected in the animal health segment's profit. Such items include costs associated with treasury-related financing, global service centers, certain acquisition-related transaction costs, and inventory valuation adjustments. |
Financial_Instruments_Policies
Financial Instruments (Policies) | 9 Months Ended |
Sep. 30, 2013 | |
Fair Value Disclosures [Abstract] | |
Description of Derivative Risk Management Policy | Accounting Policy for Risk-Management InstrumentsOur derivative activities are initiated within the guidelines of documented corporate risk-management policies and do not create additional risk because gains and losses on derivative contracts offset losses and gains on the assets, liabilities, and transactions being hedged. As derivative contracts are initiated, we designate the instruments individually as either a fair value hedge or a cash flow hedge. Management reviews the correlation and effectiveness of our derivatives on a quarterly basis.For derivative contracts that are designated and qualify as fair value hedges, the derivative instrument is marked to market with gains and losses recognized currently in income to offset the respective losses and gains recognized on the underlying exposure. For derivative contracts that are designated and qualify as cash flow hedges, the effective portion of gains and losses on these contracts is reported as a component of accumulated other comprehensive loss and reclassified into earnings in the same period the hedged transaction affects earnings. Hedge ineffectiveness is immediately recognized in earnings. Derivative contracts that are not designated as hedging instruments are recorded at fair value with the gain or loss recognized currently in earnings during the period of change.We may enter into foreign currency forward contracts to reduce the effect of fluctuating currency exchange rates (principally the euro, the British pound, and the Japanese yen). Foreign currency derivatives used for hedging are put in place using the same or like currencies and duration as the underlying exposures. Forward contracts are principally used to manage exposures arising from subsidiary trade and loan payables and receivables denominated in foreign currencies. These contracts are recorded at fair value with the gain or loss recognized in otherbnet, (income) expense. We may enter into foreign currency forward contracts and currency swaps as fair value hedges of firm commitments. Forward contracts generally have maturities not exceeding 12 months. |
Collaborations_Tables
Collaborations (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Schedule of Collaborative Arrangements and Non-collaborative Arrangement Transactions [Table Text Block] | The following table summarizes the composition of our total revenue recognized from all transactions, including collaboration activity: | |||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Net product sales | $ | 5,589.20 | $ | 5,301.20 | $ | 16,797.60 | $ | 16,170.50 | ||||||||
Collaboration and other revenue | 183.4 | 142.1 | 506.7 | 475.5 | ||||||||||||
Total revenue | $ | 5,772.60 | $ | 5,443.30 | $ | 17,304.30 | $ | 16,646.00 | ||||||||
Erbitux [Member] | ||||||||||||||||
Schedule of Collaborative Arrangements and Non-collaborative Arrangement Transactions [Table Text Block] | The following table summarizes the revenue recognized with respect to Erbitux: | |||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Net product sales | $ | 6.2 | $ | 6.2 | $ | 43.8 | $ | 69 | ||||||||
Collaboration and other revenue | 81 | 80.4 | 229.9 | 241 | ||||||||||||
Total revenue | $ | 87.2 | $ | 86.6 | $ | 273.7 | $ | 310 | ||||||||
Exenatide [Member] | ||||||||||||||||
Schedule of Collaborative Arrangements and Non-collaborative Arrangement Transactions [Table Text Block] | The following table summarizes the revenue and other income recognized with respect to exenatide: | |||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Net product sales | $ | 28.6 | $ | 49.5 | $ | 113.7 | $ | 151.1 | ||||||||
Collaboration and other revenue | — | 4.7 | — | 70.1 | ||||||||||||
Total revenue | $ | 28.6 | $ | 54.2 | $ | 113.7 | $ | 221.2 | ||||||||
Income related to termination of the exenatide collaboration with Amylin (1) | $ | — | $ | 787.8 | $ | 495.4 | $ | 787.8 | ||||||||
Financial_Instruments_Tables
Financial Instruments (Tables) | 9 Months Ended | |||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||||
Schedule of Net Investment Hedges, Statements of Financial Performance and Financial Position, Location [Table Text Block] | The following effects of risk-management instruments were recognized in other–net, (income) expense: | |||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||
Fair value hedges: | ||||||||||||||||||||||
Effect from hedged fixed-rate debt | $ | 31.3 | $ | 12.1 | $ | 244.6 | $ | 43.8 | ||||||||||||||
Effect from interest rate contracts | (31.3 | ) | (12.1 | ) | (244.6 | ) | (43.8 | ) | ||||||||||||||
Cash flow hedges: | ||||||||||||||||||||||
Effective portion of losses on interest rate contracts reclassified from accumulated other comprehensive loss | 2.3 | 2.3 | 6.7 | 6.7 | ||||||||||||||||||
Net (gains) losses on foreign currency exchange contracts not designated as hedging instruments | 33.9 | (23.7 | ) | 26.4 | (38.5 | ) | ||||||||||||||||
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | The following tables summarize certain fair value information at September 30, 2013 and December 31, 2012 for assets and liabilities measured at fair value on a recurring basis, as well as the carrying amount and amortized cost of certain other investments: | |||||||||||||||||||||
Fair Value Measurements Using | ||||||||||||||||||||||
Description | Carrying | Amortized | Quoted Prices in Active Markets for Identical Assets | Significant Other | Significant | Fair | ||||||||||||||||
Amount | Cost | (Level 1) | Observable Inputs | Unobservable | Value | |||||||||||||||||
(Level 2) | Inputs | |||||||||||||||||||||
(Level 3) | ||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||
Cash and cash equivalents | $ | 4,368.90 | $ | 4,368.90 | $ | 4,315.20 | $ | 53.7 | $ | $ | 4,368.90 | |||||||||||
Short-term investments: | ||||||||||||||||||||||
U.S. government and agencies | $ | 162.2 | $ | 162.1 | $ | 162.2 | $ | $ | $ | 162.2 | ||||||||||||
Corporate debt securities | 843.2 | 841.2 | 843.2 | 843.2 | ||||||||||||||||||
Other securities | 5 | 5 | 5 | 5 | ||||||||||||||||||
Short-term investments | $ | 1,010.40 | $ | 1,008.30 | ||||||||||||||||||
Noncurrent investments: | ||||||||||||||||||||||
U.S. government and agencies | $ | 1,131.90 | $ | 1,138.60 | $ | 1,045.60 | $ | 86.3 | $ | $ | 1,131.90 | |||||||||||
Corporate debt securities | 4,508.10 | 4,513.40 | 4,508.10 | 4,508.10 | ||||||||||||||||||
Mortgage-backed | 588.1 | 603.5 | 588.1 | 588.1 | ||||||||||||||||||
Asset-backed | 359 | 363.6 | 359 | 359 | ||||||||||||||||||
Other securities | 7.4 | 8.2 | 7.4 | 7.4 | ||||||||||||||||||
Marketable equity | 370.8 | 139.8 | 370.8 | 370.8 | ||||||||||||||||||
Equity method and other investments(1) | 254.9 | 254.9 | ||||||||||||||||||||
Noncurrent investments | $ | 7,220.20 | $ | 7,022.00 | ||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||
Cash and cash equivalents | $ | 4,018.80 | $ | 4,018.80 | $ | 3,964.40 | $ | 54.4 | $ | $ | 4,018.80 | |||||||||||
Short-term investments: | ||||||||||||||||||||||
U.S. government and agencies | $ | 150.2 | $ | 150.2 | $ | 150.2 | $ | $ | $ | 150.2 | ||||||||||||
Corporate debt securities | 1,503.50 | 1,501.50 | 1,503.50 | 1,503.50 | ||||||||||||||||||
Other securities | 11.8 | 11.8 | 11.8 | 11.8 | ||||||||||||||||||
Short-term investments | $ | 1,665.50 | $ | 1,663.50 | ||||||||||||||||||
Noncurrent investments: | ||||||||||||||||||||||
U.S. government and agencies | $ | 1,362.70 | $ | 1,360.30 | $ | 1,122.40 | $ | 240.3 | $ | $ | 1,362.70 | |||||||||||
Corporate debt securities | 3,351.30 | 3,322.90 | 3,351.30 | 3,351.30 | ||||||||||||||||||
Mortgage-backed | 668.1 | 677.7 | 668.1 | 668.1 | ||||||||||||||||||
Asset-backed | 519 | 523.5 | 519 | 519 | ||||||||||||||||||
Other securities | 3.3 | 3.3 | 3.3 | 3.3 | ||||||||||||||||||
Marketable equity | 175.8 | 83 | 175.8 | 175.8 | ||||||||||||||||||
Equity method and other investments(1) | 233.1 | 233.1 | ||||||||||||||||||||
Noncurrent investments | $ | 6,313.30 | $ | 6,203.80 | ||||||||||||||||||
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block] | ||||||||||||||||||||||
Fair Value Measurements Using | ||||||||||||||||||||||
Description | Carrying | Quoted Prices in Active Markets for Identical Assets | Significant | Significant | Fair | |||||||||||||||||
Amount | (Level 1) | Other Observable Inputs | Unobservable | Value | ||||||||||||||||||
(Level 2) | Inputs | |||||||||||||||||||||
(Level 3) | ||||||||||||||||||||||
Long-term debt, including current portion | ||||||||||||||||||||||
September 30, 2013 | $ | (5,282.9 | ) | $ | $ | (5,570.2 | ) | $ | $ | (5,570.2 | ) | |||||||||||
31-Dec-12 | (5,531.3 | ) | (5,996.6 | ) | (5,996.6 | ) | ||||||||||||||||
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block] | The table below summarizes the contractual maturities of our investments in debt securities measured at fair value as of September 30, 2013: | |||||||||||||||||||||
Maturities by Period | ||||||||||||||||||||||
Total | Less Than | 5-Jan | 10-Jun | More Than | ||||||||||||||||||
1 Year | Years | Years | 10 Years | |||||||||||||||||||
Fair value of debt securities | $ | 7,600.50 | $ | 1,010.40 | $ | 5,437.40 | $ | 451 | $ | 701.7 | ||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | ||||||||||||||||||||||
Fair Value Measurements Using | ||||||||||||||||||||||
Description | Carrying | Quoted Prices in Active Markets for Identical Assets | Significant | Significant | Fair | |||||||||||||||||
Amount | (Level 1) | Other Observable Inputs | Unobservable | Value | ||||||||||||||||||
(Level 2) | Inputs | |||||||||||||||||||||
(Level 3) | ||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||
Risk-management instruments | ||||||||||||||||||||||
Interest rate contracts designated as hedging instruments: | ||||||||||||||||||||||
Other receivables | $ | 11.3 | $ | $ | 11.3 | $ | $ | 11.3 | ||||||||||||||
Sundry | 336.6 | 336.6 | 336.6 | |||||||||||||||||||
Other current liabilities | (4.3 | ) | (4.3 | ) | (4.3 | ) | ||||||||||||||||
Foreign exchange contracts not designated as hedging instruments: | ||||||||||||||||||||||
Other receivables | 3.7 | 3.7 | 3.7 | |||||||||||||||||||
Other current liabilities | (15.4 | ) | (15.4 | ) | (15.4 | ) | ||||||||||||||||
Equity contracts designated as hedging instruments: | ||||||||||||||||||||||
Other current liabilities | (37.5 | ) | (37.5 | ) | (37.5 | ) | ||||||||||||||||
Other noncurrent liabilities | (4.4 | ) | (4.4 | ) | (4.4 | ) | ||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||
Risk-management instruments | ||||||||||||||||||||||
Interest rate contracts designated as hedging instruments: | ||||||||||||||||||||||
Sundry | $ | 589.4 | $ | $ | 589.4 | $ | $ | 589.4 | ||||||||||||||
Foreign exchange contracts not designated as hedging instruments: | ||||||||||||||||||||||
Other receivables | 11 | 11 | 11 | |||||||||||||||||||
Other current liabilities | (17.5 | ) | (17.5 | ) | (17.5 | ) | ||||||||||||||||
Available-for-sale Securities [Table Text Block] | A summary of the fair value of available-for-sale securities in an unrealized gain or loss position and the amount of unrealized gains and losses (pretax) in accumulated other comprehensive loss follows: | |||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||
Unrealized gross gains | $ | 259.6 | $ | 140.5 | ||||||||||||||||||
Unrealized gross losses | 59.3 | 29 | ||||||||||||||||||||
Fair value of securities in an unrealized gain position | 4,289.10 | 5,246.00 | ||||||||||||||||||||
Fair value of securities in an unrealized loss position | 3,435.90 | 2,102.00 | ||||||||||||||||||||
Gain (Loss) on Investments [Table Text Block] | Activity related to our investment portfolio, substantially all of which related to available-for-sale securities, was as follows: | |||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||
Proceeds from sales | $ | 2,785.50 | $ | 1,698.80 | $ | 10,230.60 | $ | 5,334.10 | ||||||||||||||
Realized gross gains on sales | 3.6 | 43.1 | 41.8 | 70 | ||||||||||||||||||
Realized gross losses on sales | 4.2 | 2.2 | 12.1 | 7.4 | ||||||||||||||||||
Retirement_Benefits_Tables
Retirement Benefits (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Pension Plans, Defined Benefit [Member] | ||||||||||||||||
Schedule of Net Benefit Costs [Table Text Block] | Net pension and retiree health benefit expense included the following components: | |||||||||||||||
Defined Benefit Pension Plans | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Components of net periodic benefit cost: | ||||||||||||||||
Service cost | $ | 71.5 | $ | 66.7 | $ | 212.3 | $ | 193.8 | ||||||||
Interest cost | 110 | 113 | 328.3 | 338.7 | ||||||||||||
Expected return on plan assets | (176.1 | ) | (171.2 | ) | (525.8 | ) | (512.6 | ) | ||||||||
Amortization of prior service cost | 1 | 0.8 | 3 | 2.5 | ||||||||||||
Recognized actuarial loss | 103.8 | 71.4 | 302.2 | 213.3 | ||||||||||||
Net periodic benefit cost | $ | 110.2 | $ | 80.7 | $ | 320 | $ | 235.7 | ||||||||
Other Postretirement Benefit Plans, Defined Benefit [Member] | ||||||||||||||||
Schedule of Net Benefit Costs [Table Text Block] | ||||||||||||||||
Retiree Health Benefit Plans | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Components of net periodic benefit cost: | ||||||||||||||||
Service cost | $ | 15 | $ | 16.1 | $ | 45.2 | $ | 48.4 | ||||||||
Interest cost | 23.4 | 28.6 | 70.1 | 85.6 | ||||||||||||
Expected return on plan assets | (32.8 | ) | (31.8 | ) | (98.3 | ) | (95.4 | ) | ||||||||
Amortization of prior service cost | (9.2 | ) | (8.8 | ) | (22.0 | ) | (26.3 | ) | ||||||||
Recognized actuarial loss | 25.7 | 24.6 | 71.9 | 72.9 | ||||||||||||
Net periodic benefit cost | $ | 22.1 | $ | 28.7 | $ | 66.9 | $ | 85.2 | ||||||||
Other_Comprehensive_Income_Los1
Other Comprehensive Income (Loss) (Tables) | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Statement of Comprehensive Income [Abstract] | ||||||||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The following table summarizes the activity related to each component of other comprehensive income (loss) during the three months ended September 30, 2013: | |||||||||||||||||||
(Amounts presented net of taxes) | Foreign Currency Translation Gains (Losses) | Unrealized Net Gains (Losses) on Securities | Defined Benefit Pension and Retiree Health Benefit Plans | Effective Portion of Cash Flow Hedges | Accumulated Other Comprehensive Loss | |||||||||||||||
Balance at July 1, 2013 | $ | 92.9 | $ | 67 | $ | (4,005.2 | ) | $ | (103.4 | ) | $ | (3,948.7 | ) | |||||||
Other comprehensive income (loss) before reclassifications | 289.7 | 62.8 | (27.5 | ) | (22.7 | ) | 302.3 | |||||||||||||
Net amount reclassified from accumulated other comprehensive loss | — | 0.4 | 80.4 | 1.5 | 82.3 | |||||||||||||||
Net other comprehensive income (loss) | 289.7 | 63.2 | 52.9 | (21.2 | ) | 384.6 | ||||||||||||||
Balance at September 30, 2013 | $ | 382.6 | $ | 130.2 | $ | (3,952.3 | ) | $ | (124.6 | ) | $ | (3,564.1 | ) | |||||||
The following table summarizes the activity related to each component of other comprehensive income (loss) during the nine months ended September 30, 2013: | ||||||||||||||||||||
(Amounts presented net of taxes) | Foreign Currency Translation Gains (Losses) | Unrealized Net Gains (Losses) on Securities | Defined Benefit Pension and Retiree Health Benefit Plans | Effective Portion of Cash Flow Hedges | Accumulated Other Comprehensive Loss | |||||||||||||||
Balance at January 1, 2013 | $ | 426.8 | $ | 72.5 | $ | (4,195.2 | ) | $ | (101.2 | ) | $ | (3,797.1 | ) | |||||||
Other comprehensive income (loss) before reclassifications | (44.2 | ) | 61.1 | 10.2 | (27.8 | ) | (0.7 | ) | ||||||||||||
Net amount reclassified from accumulated other comprehensive loss | — | (3.4 | ) | 232.7 | 4.4 | 233.7 | ||||||||||||||
Net other comprehensive income (loss) | (44.2 | ) | 57.7 | 242.9 | (23.4 | ) | 233 | |||||||||||||
Balance at September 30, 2013 | $ | 382.6 | $ | 130.2 | $ | (3,952.3 | ) | $ | (124.6 | ) | $ | (3,564.1 | ) | |||||||
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | ||||||||||||||||||||
Reclassifications Out of Accumulated Other Comprehensive Loss | ||||||||||||||||||||
Details about Accumulated Other | Three Months Ended | Nine Months Ended | Affected Line Item in the Consolidated Condensed Statements of Operations | |||||||||||||||||
Comprehensive Loss Components | 30-Sep-13 | 30-Sep-13 | ||||||||||||||||||
Amortization of defined pension benefit items: | ||||||||||||||||||||
Prior service costs | $ | 8.2 | $ | 19 | (1) | |||||||||||||||
Actuarial gains (losses) | (129.5 | ) | (374.1 | ) | (1) | |||||||||||||||
Total before tax | (121.3 | ) | (355.1 | ) | ||||||||||||||||
Tax benefit | 40.9 | 122.4 | ||||||||||||||||||
Net of tax | (80.4 | ) | (232.7 | ) | ||||||||||||||||
Other, net of tax | (1.9 | ) | (1.0 | ) | Other—net, (income) expense | |||||||||||||||
Total reclassifications for the period (net of tax) | $ | (82.3 | ) | $ | (233.7 | ) |
Other_Net_Expense_Income_Table
Other - Net, Expense (Income) (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Nonoperating Income (Expense) [Abstract] | ||||||||||||||||
Schedule of Other Nonoperating Income (Expense) [Table Text Block] | Other–net, (income) expense consisted of the following: | |||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Income related to termination of the exenatide collaboration with Amylin (Note 4) | $ | — | $ | (787.8 | ) | $ | (495.4 | ) | $ | (787.8 | ) | |||||
Interest expense | 39.8 | 47 | 120.4 | 135.3 | ||||||||||||
Interest income | (32.2 | ) | (25.7 | ) | (85.5 | ) | (79.0 | ) | ||||||||
Other | 23.7 | (22.0 | ) | (49.3 | ) | 5.5 | ||||||||||
Other–net, (income) expense | $ | 31.3 | $ | (788.5 | ) | $ | (509.8 | ) | $ | (726.0 | ) | |||||
Segment_Information_Tables
Segment Information (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||||
Segment Information [Text Block] | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Segment revenue — to unaffiliated customers: | ||||||||||||||||
Human pharmaceutical products: | ||||||||||||||||
Neuroscience | $ | 1,878.10 | $ | 1,815.80 | $ | 5,731.50 | $ | 5,544.00 | ||||||||
Endocrinology | 1,764.70 | 1,646.10 | 5,273.90 | 5,041.20 | ||||||||||||
Oncology | 821.8 | 791.7 | 2,394.10 | 2,442.40 | ||||||||||||
Cardiovascular | 715.6 | 650.9 | 2,140.90 | 1,936.40 | ||||||||||||
Other pharmaceuticals | 62.1 | 59.4 | 190.8 | 199.6 | ||||||||||||
Total human pharmaceutical products | 5,242.30 | 4,963.90 | 15,731.20 | 15,163.60 | ||||||||||||
Animal health | 530.3 | 479.4 | 1,573.10 | 1,482.40 | ||||||||||||
Total segment revenue | $ | 5,772.60 | $ | 5,443.30 | $ | 17,304.30 | $ | 16,646.00 | ||||||||
Segment profits: | ||||||||||||||||
Human pharmaceutical products | $ | 1,362.50 | $ | 1,034.20 | $ | 4,141.40 | $ | 3,315.00 | ||||||||
Animal health | 150.9 | 106 | 427.8 | 370 | ||||||||||||
Total segment profits | $ | 1,513.40 | $ | 1,140.20 | $ | 4,569.20 | $ | 3,685.00 | ||||||||
Reconciliation of total segment profits to consolidated income before taxes: | ||||||||||||||||
Segment profits | $ | 1,513.40 | $ | 1,140.20 | $ | 4,569.20 | $ | 3,685.00 | ||||||||
Other profits (losses): | ||||||||||||||||
Income related to termination of the exenatide collaboration with Amylin (Note 4) | — | 787.8 | 495.4 | 787.8 | ||||||||||||
Asset impairments, restructuring, and other special charges (Note 5) | — | (53.3 | ) | (85.2 | ) | (77.1 | ) | |||||||||
Total consolidated income before taxes | $ | 1,513.40 | $ | 1,874.70 | $ | 4,979.40 | $ | 4,395.70 | ||||||||
Acquisitions_Details
Acquisitions (Details) (ChemGen Corporation [Member], USD $) | 0 Months Ended |
In Millions, unless otherwise specified | Feb. 17, 2012 |
ChemGen Corporation [Member] | |
Business Acquisition, Cost of Acquired Entity, Purchase Price, Total | $206.90 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 151.5 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | $55.40 |
Collaborations_Details
Collaborations (Details) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 1 Months Ended | 10 Months Ended | 1 Months Ended | 10 Months Ended | 1 Months Ended | 10 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | 1 Months Ended | 6 Months Ended | 1 Months Ended | 6 Months Ended | 1 Months Ended | 3 Months Ended | 1 Months Ended | |||||||||||||||||||||||
In Millions, unless otherwise specified | Aug. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Oct. 31, 2013 | Nov. 30, 2011 | Oct. 31, 2011 | Aug. 31, 2012 | Nov. 30, 2011 | Nov. 30, 2011 | Nov. 30, 2011 | Nov. 30, 2011 | Oct. 31, 2011 | Jun. 30, 2001 | Dec. 31, 2009 | Oct. 31, 2011 | Nov. 30, 2011 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2011 | Mar. 31, 2011 | Mar. 31, 2011 | Dec. 31, 2009 | Dec. 31, 2012 | Oct. 31, 2013 | Jun. 30, 2011 | Dec. 31, 2009 | Oct. 31, 2013 | Jun. 30, 2011 | Dec. 31, 2009 | Jun. 30, 2011 | Nov. 30, 2011 |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Erbitux [Member] | Erbitux [Member] | Erbitux [Member] | Erbitux [Member] | Effient [Member] | Effient [Member] | Effient [Member] | Effient [Member] | Amylin [Member] | Amylin [Member] | Amylin [Member] | Amylin [Member] | Amylin [Member] | Exenatide [Member] | Exenatide [Member] | Exenatide [Member] | Exenatide [Member] | Boerhringer Ingelheim (BI) [Member] | Boerhringer Ingelheim (BI) [Member] | Boerhringer Ingelheim (BI) [Member] | Boerhringer Ingelheim (BI) [Member] | Boerhringer Ingelheim (BI) [Member] | Tanezumab [Member] | Sales [Member] | Sales [Member] | Revenue Share [Member] | Revenue Share [Member] | Revenue Share [Member] | Revenue Share [Member] | Secured Note [Member] | Gross Margin Share [Member] | Profit and Development and Marketing Share [Member] | Research and Development Exp [Member] | Research and Development and Marketing and Selling Expense [Member] | Milestone Payments, Development and Regulatory [Member] | Milestone Payments, Development and Regulatory [Member] | Milestone Payments, Development and Regulatory [Member] | Milestone Payments, Development and Regulatory [Member] | Milestone Payments, Development and Regulatory [Member] | Milestone Payments, Development and Regulatory [Member] | Milestone Payments, Development and Regulatory [Member] | Milestone Payments, Development and Regulatory [Member] | Milestone Payments, Development and Regulatory [Member] | Milestone Payments, Sales-based [Member] | Milestone Payments, Sales-based [Member] | Milestone Payments, Sales-based [Member] | Royalty Agreement Terms [Member] | Royalty Agreement Terms [Member] | Loan Commitment [Member] | Upfront Payment [Member] | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Amylin [Member] | Outside the United States [Member] | Amylin [Member] | Amylin [Member] | United States [Member] | Outside the United States [Member] | Amylin [Member] | United States [Member] | Effient [Member] | Baricitinib [Member] | United States [Member] | Amylin [Member] | BI compounds [Member] | BI compounds [Member] | BI compounds [Member] | LLY compounds [Member] | LLY optional compound [Member] | Baricitinib [Member] | Baricitinib [Member] | Tanezumab [Member] | TPG-Axon [Member] | Baricitinib [Member] | Tanezumab [Member] | Solanezumab [Member] | Baricitinib [Member] | Exenatide Once Weekly [Member] | Amylin [Member] | ||||||
Exenatide [Member] | USD ($) | USD ($) | Amylin [Member] | Amylin [Member] | Exenatide [Member] | Exenatide [Member] | USD ($) | EUR (€) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | |||||||||||||||||||||||||||||||||||
Net product sales | $5,589.20 | $5,301.20 | $16,797.60 | $16,170.50 | $6.20 | $6.20 | $43.80 | $69 | $124.90 | $109.70 | $378.10 | $336.60 | $28.60 | $49.50 | $113.70 | $151.10 | |||||||||||||||||||||||||||||||||||||||
Collaboration and other revenue | 183.4 | 142.1 | 506.7 | 475.5 | 81 | 80.4 | 229.9 | 241 | 0 | 4.7 | 0 | 70.1 | 64.7 | 22.8 | 162.1 | 48.7 | |||||||||||||||||||||||||||||||||||||||
Revenue | 5,772.60 | 5,443.30 | 17,304.30 | 16,646 | 87.2 | 86.6 | 273.7 | 310 | 28.6 | 54.2 | 113.7 | 221.2 | |||||||||||||||||||||||||||||||||||||||||||
Income related to the termination of the exenatide collaboratio | 0 | 787.8 | 495.4 | 787.8 | 0 | 495.4 | 787.8 | 495.4 | 787.8 | ||||||||||||||||||||||||||||||||||||||||||||||
Research and development | 1,377.40 | 1,342.80 | 4,055.90 | 3,815 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Collaborative Arrangement, Income Statement Classification and Amounts | 50.5 | 45.3 | 151 | 138 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Collaborative Arrangement, Rights and Obligations, Terms | 1,260 | 1,200 | 150 | -228.8 | -92.2 | -478.7 | -290 | -525 | -515 | -50 | -350 | -70 | -150 | -1,230 | -165 | 250 | |||||||||||||||||||||||||||||||||||||||
Collaborative Arrangement, Rights and Obligations, Terms of Arrangement, Period | 10 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 9.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Collaborative Arrangement, Rights and Obligations Percent | 15.00% | 100.00% | 65.00% | 35.00% | 50.00% | 50.00% | 30.00% | 50.00% | 20.00% | ||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from prepayment of revenue-sharing obligation | 1,210 | 0 | -1,212.10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquired in-process research and development | 388 | 200 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of Intangible Assets | $132.20 | $140.80 | $423.50 | $421.70 |
Asset_Impairments_Restructurin1
Asset Impairments, Restructuring, and Other Special Charges (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Unusual or Infrequent Item [Line Items] | ||||
Asset impairments, restructuring, and other special charges | $0 | $53.30 | $85.20 | $77.10 |
Financial_Instruments_Details
Financial Instruments (Details) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Equity Contract [Member] | Equity Contract [Member] | Equity Contract [Member] | Hedged Fixed-Rate Debt [Member] | Hedged Fixed-Rate Debt [Member] | Hedged Fixed-Rate Debt [Member] | Hedged Fixed-Rate Debt [Member] | Interest Rate Contract [Member] | Interest Rate Contract [Member] | Interest Rate Contract [Member] | Interest Rate Contract [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | Available-for-Sale Securities, Amortized Cost [Member] | Available-for-Sale Securities, Amortized Cost [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Corporate Debt Securities [Member] | Corporate Debt Securities [Member] | Corporate Debt Securities [Member] | Corporate Debt Securities [Member] | Corporate Debt Securities [Member] | Corporate Debt Securities [Member] | Corporate Debt Securities [Member] | Corporate Debt Securities [Member] | US Government Agencies Debt Securities [Member] | US Government Agencies Debt Securities [Member] | US Government Agencies Debt Securities [Member] | US Government Agencies Debt Securities [Member] | US Government Agencies Debt Securities [Member] | US Government Agencies Debt Securities [Member] | US Government Agencies Debt Securities [Member] | US Government Agencies Debt Securities [Member] | US Government Agencies Debt Securities [Member] | US Government Agencies Debt Securities [Member] | Other Debt Obligations [Member] | Other Debt Obligations [Member] | Other Debt Obligations [Member] | Other Debt Obligations [Member] | Other Debt Obligations [Member] | Other Debt Obligations [Member] | Other Debt Obligations [Member] | Other Debt Obligations [Member] | Collateralized Mortgage Backed Securities [Member] | Collateralized Mortgage Backed Securities [Member] | Collateralized Mortgage Backed Securities [Member] | Collateralized Mortgage Backed Securities [Member] | Collateralized Mortgage Backed Securities [Member] | Collateralized Mortgage Backed Securities [Member] | Collateralized Mortgage Backed Securities [Member] | Collateralized Mortgage Backed Securities [Member] | Asset-backed Securities [Member] | Asset-backed Securities [Member] | Asset-backed Securities [Member] | Asset-backed Securities [Member] | Asset-backed Securities [Member] | Asset-backed Securities [Member] | Asset-backed Securities [Member] | Asset-backed Securities [Member] | Equity Securities, US [Member] | Equity Securities, US [Member] | Equity Securities, US [Member] | Equity Securities, US [Member] | Equity Securities, US [Member] | Equity Securities, US [Member] | Equity Securities, US [Member] | Equity Securities, US [Member] | Equity Method and Other Investments [Member] | Equity Method and Other Investments [Member] | Equity Method and Other Investments [Member] | Equity Method and Other Investments [Member] | Buy US dollar Sell euro [Member] | Buy US dollar Sell euro [Member] | Buy euro Sell US dollar [Member] | Buy euro Sell US dollar [Member] | Buy US dollar Sell Japanese Yen [Member] | Buy US dollar Sell Japanese Yen [Member] | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Equity Contract [Member] | Interest Rate Contract [Member] | Interest Rate Contract [Member] | Foreign Exchange Contract [Member] | Foreign Exchange Contract [Member] | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Equity Contract [Member] | Interest Rate Contract [Member] | Interest Rate Contract [Member] | Foreign Exchange Contract [Member] | Foreign Exchange Contract [Member] | USD ($) | USD ($) | Equity Contract [Member] | Interest Rate Contract [Member] | Interest Rate Contract [Member] | Foreign Exchange Contract [Member] | Foreign Exchange Contract [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | Available-for-Sale Securities, Amortized Cost [Member] | Available-for-Sale Securities, Amortized Cost [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | Available-for-Sale Securities, Amortized Cost [Member] | Available-for-Sale Securities, Amortized Cost [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | Available-for-Sale Securities, Amortized Cost [Member] | Available-for-Sale Securities, Amortized Cost [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | Available-for-Sale Securities, Amortized Cost [Member] | Available-for-Sale Securities, Amortized Cost [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | Available-for-Sale Securities, Amortized Cost [Member] | Available-for-Sale Securities, Amortized Cost [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | Available-for-Sale Securities, Amortized Cost [Member] | Available-for-Sale Securities, Amortized Cost [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | Available-for-Sale Securities, Amortized Cost [Member] | Available-for-Sale Securities, Amortized Cost [Member] | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | JPY (¥) | ||||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | |||||||||||||||||||||||||||||||||
Available-for-sale Securities, Debt Securities | $7,600,500,000 | $7,600,500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge | 31,300,000 | 12,100,000 | 244,600,000 | 43,800,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and Cash Equivalents, Fair Value Disclosure | 4,368,900,000 | 4,018,800,000 | 4,368,900,000 | 4,018,800,000 | 4,315,200,000 | 3,964,400,000 | 53,700,000 | 54,400,000 | 4,368,900,000 | 4,018,800,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term Debt | -5,282,900,000 | -5,531,300,000 | -5,570,200,000 | -5,996,600,000 | -5,570,200,000 | -5,996,600,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Assets, Current | 11,300,000 | 3,700,000 | 11,000,000 | 11,300,000 | 3,700,000 | 11,000,000 | 11,300,000 | 3,700,000 | 11,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Other, Percentage of Nonperforming Assets | 90.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum Remaining Maturity of Foreign Currency Derivatives | 30 days | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description of Derivative Activity Volume Percent | 60.00% | 60.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments | -31,300,000 | -12,100,000 | -244,600,000 | -43,800,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net | 8,800,000 | 8,800,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Instruments, Loss Reclassified from Accumulated OCI into Income, Effective Portion | 2,300,000 | 2,300,000 | 6,700,000 | 6,700,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Instruments, Gain (Loss) Recognized in Income, Net | 33,900,000 | -23,700,000 | 26,400,000 | -38,500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net | 33,000,000 | 41,900,000 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Assets, Noncurrent | 336,600,000 | 589,400,000 | 336,600,000 | 589,400,000 | 336,600,000 | 589,400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liabilities, Current | -37,500,000 | -4,300,000 | -15,400,000 | -17,500,000 | -37,500,000 | -4,300,000 | -15,400,000 | -17,500,000 | -37,500,000 | -15,400,000 | -17,500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liabilities, Noncurrent | -4,400,000 | -4,400,000 | -4,400,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Fair Value | 5,437,400,000 | 5,437,400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Available-for-sale Securities, Gross Unrealized Gains | 259,600,000 | 140,500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Available-for-sale Securities, Gross Unrealized Losses | 59,300,000 | 29,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Available-for-sale Securities, Continuous Unrealized Gain Position, Fair Value | 4,289,100,000 | 4,289,100,000 | 5,246,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 3,435,900,000 | 3,435,900,000 | 2,102,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other than Temporary Impairment Losses, Investments | 0 | 800,000 | 5,200,000 | 8,200,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from Sale and Maturity of Available-for-sale Securities | 2,785,500,000 | 1,698,800,000 | 10,230,600,000 | 5,334,100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Available-for-sale Securities, Gross Realized Gains | 3,600,000 | 43,100,000 | 41,800,000 | 70,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Available-for-sale Securities, Gross Realized Losses | 4,200,000 | 2,200,000 | 12,100,000 | 7,400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Available-for-sale Securities, Current [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Available-for-sale Securities, Debt Securities, Current | 843,200,000 | 1,503,500,000 | 841,200,000 | 1,501,500,000 | 843,200,000 | 1,503,500,000 | 843,200,000 | 1,503,500,000 | 162,200,000 | 150,200,000 | 162,100,000 | 150,200,000 | 162,200,000 | 150,200,000 | 162,200,000 | 150,200,000 | 5,000,000 | 11,800,000 | 5,000,000 | 11,800,000 | 5,000,000 | 11,800,000 | 5,000,000 | 11,800,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Available-for-sale Securities, Current, Total | 1,010,400,000 | 1,665,500,000 | 1,008,300,000 | 1,663,500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Available-for-sale Securities, Noncurrent [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Available-for-sale Securities, Debt Securities, Noncurrent | 4,508,100,000 | 3,351,300,000 | 4,513,400,000 | 3,322,900,000 | 4,508,100,000 | 3,351,300,000 | 4,508,100,000 | 3,351,300,000 | 1,131,900,000 | 1,362,700,000 | 1,138,600,000 | 1,360,300,000 | 1,045,600,000 | 1,122,400,000 | 86,300,000 | 240,300,000 | 1,131,900,000 | 1,362,700,000 | 7,400,000 | 3,300,000 | 8,200,000 | 3,300,000 | 7,400,000 | 3,300,000 | 7,400,000 | 3,300,000 | 588,100,000 | 668,100,000 | 603,500,000 | 677,700,000 | 588,100,000 | 668,100,000 | 588,100,000 | 668,100,000 | 359,000,000 | 519,000,000 | 363,600,000 | 523,500,000 | 359,000,000 | 519,000,000 | 359,000,000 | 519,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Available-for-sale Securities, Equity Securities, Noncurrent | 370,800,000 | 175,800,000 | 139,800,000 | 83,000,000 | 370,800,000 | 175,800,000 | 370,800,000 | 175,800,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Long-term Investments | 254,900,000 | 233,100,000 | 254,900,000 | 233,100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Available-for-sale Securities, Noncurrent, Total | 7,220,200,000 | 6,313,300,000 | 7,022,000,000 | 6,203,800,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Fair Value | 1,010,400,000 | 1,010,400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Available-for-sale Securities, Debt Maturities, Year Six Through Ten, Fair Value | 451,000,000 | 451,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Available-for-sale Securities, Debt Maturities, after Ten Years, Fair Value | 701,700,000 | 701,700,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liability, Notional Amount | 872,300,000 | 287,300,000 | 362,300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Asset, Notional Amount | 651,700,000 | 388,600,000 | 35,830,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative, Notional Amount | 400,000,000 | 400,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum Length of Time Hedged in Interest Rate Cash Flow Hedge | 30 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Short-term Debt | $1,000,000,000 | $1,000,000,000 |
StockBased_Compensation_Detail
Stock-Based Compensation (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Allocated Share-based Compensation Expense | $36.20 | $34.40 | $105.10 | $100.30 |
Stock-based compensation expense | 105.1 | 100.3 | ||
Performance Awards, General [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | |||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | 27.7 | 27.7 | ||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | 13 months | |||
Shareholder Value Awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | 64.5 | 64.5 | ||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | 22 months | |||
Restricted Stock Unit [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | $70.90 | $70.90 | ||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | 23 months |
Shareholders_Equity_Details
Shareholders' Equity (Details) (USD $) | 1 Months Ended | 3 Months Ended | |
In Billions, unless otherwise specified | Oct. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
Stockholders' Equity Note [Abstract] | |||
Treasury Stock, Value, Acquired, Cost Method | $1.10 | ||
Stock Repurchase Program, Authorized Amount | $5 | $1.50 |
Income_Taxes_Income_Taxes_Deta
Income Taxes Income Taxes (Details) (USD $) | 3 Months Ended | 12 Months Ended | 36 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2009 | Dec. 31, 2008 | Dec. 31, 2012 |
Income Tax Examination [Line Items] | ||||
Income Tax Examination, Year under Examination | 2009 | 2008 | 2010 | |
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions | $630 | |||
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority | $135 |
Retirement_Benefits_Details
Retirement Benefits (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Pension Plans, Defined Benefit [Member] | ||||
Defined Benefit Plan, Service Cost | $71.50 | $66.70 | $212.30 | $193.80 |
Defined Benefit Plan, Interest Cost | 110 | 113 | 328.3 | 338.7 |
Defined Benefit Plan, Expected Return on Plan Assets | -176.1 | -171.2 | -525.8 | -512.6 |
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | 1 | 0.8 | 3 | 2.5 |
Defined Benefit Plan, Actuarial Gain (Loss) | 103.8 | 71.4 | 302.2 | 213.3 |
Defined Benefit Plan, Net Periodic Benefit Cost, Total | 110.2 | 80.7 | 320 | 235.7 |
Pension Contributions | 55 | |||
Pension and Other Postretirement Benefit Contributions | 300 | |||
Defined Benefit Plan, Estimated Future Employer Contributions in Current Fiscal Year | 5 | |||
Other Postretirement Benefit Plans, Defined Benefit [Member] | ||||
Defined Benefit Plan, Service Cost | 15 | 16.1 | 45.2 | 48.4 |
Defined Benefit Plan, Interest Cost | 23.4 | 28.6 | 70.1 | 85.6 |
Defined Benefit Plan, Expected Return on Plan Assets | -32.8 | -31.8 | -98.3 | -95.4 |
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | -9.2 | -8.8 | -22 | -26.3 |
Defined Benefit Plan, Actuarial Gain (Loss) | 25.7 | 24.6 | 71.9 | 72.9 |
Defined Benefit Plan, Net Periodic Benefit Cost, Total | $22.10 | $28.70 | $66.90 | $85.20 |
Contingencies_Details
Contingencies (Details) | 3 Months Ended |
Sep. 30, 2013 | |
Product Liability Litigation [Member] | Byetta [Member] | |
Loss Contingency, Number of Lawsuits | 235 |
Loss Contingency, Number of Plaintiffs | 650 |
Loss Contingency, Number of Claimants | 460 |
Product Liability Litigation [Member] | Diethylstilbestrol (DES) [Member] | |
Loss Contingency, Number of Lawsuits | 10 |
Loss Contingency, Number of Claimants | 10 |
Product Liability Litigation [Member] | Prozac [Member] | |
Loss Contingency, Number of Lawsuits | 10 |
Loss Contingency, Number of Claimants | 410 |
Product Liability Litigation [Member] | Damages from Product, Cancer [Member] | Byetta [Member] | |
Loss Contingency, Number of Lawsuits | 150 |
Loss Contingency, Number of Plaintiffs | 210 |
Product Liability Litigation [Member] | California [Member] | Byetta [Member] | |
Loss Contingency, Number of Lawsuits | 85 |
Loss Contingency, Number of Plaintiffs | 455 |
Employee Litigation [Member] | Brazil [Member] | |
Loss Contingency, Number of Lawsuits | 30 |
Other_Comprehensive_Income_Los2
Other Comprehensive Income (Loss) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2013 | Dec. 31, 2012 |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Prior Service Cost Arising During Period, before Tax | $8.20 | $19 | ||||
Accumulated other comprehensive loss | -3,564.10 | -3,564.10 | -3,948.70 | -3,797.10 | ||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax | 302.3 | -0.7 | ||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment Realized upon Sale or Liquidation, Net of Tax | 82.3 | 233.7 | ||||
Other comprehensive income (loss), net of tax | 384.6 | 398.3 | 233 | 322.7 | ||
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, before Tax | -129.5 | -374.1 | ||||
Other Comprehensive Income (Loss), Reclassification, Pension and Other Postretirement Benefit Plans, Net Gain (Loss) Recognized in Net Periodic Benefit Cost, before Tax | -121.3 | -355.1 | ||||
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net (Gain) Loss, Tax | 40.9 | 122.4 | ||||
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net (Gain) Loss, Net of Tax | -80.4 | -232.7 | ||||
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Tax | 32.9 | 31.1 | ||||
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, before Reclassification Adjustments, Tax | 48.1 | 137.2 | ||||
Other Comprehensive Income, Other, Net of Tax | -1.9 | -1 | ||||
Accumulated Translation Adjustment [Member] | ||||||
Accumulated other comprehensive loss | 382.6 | 382.6 | 92.9 | 426.8 | ||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax | 289.7 | -44.2 | ||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment Realized upon Sale or Liquidation, Net of Tax | 0 | 0 | ||||
Other comprehensive income (loss), net of tax | 289.7 | -44.2 | ||||
Accumulated Net Unrealized Investment Gain (Loss) [Member] | ||||||
Accumulated other comprehensive loss | 130.2 | 130.2 | 67 | 72.5 | ||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax | 62.8 | 61.1 | ||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment Realized upon Sale or Liquidation, Net of Tax | 0.4 | -3.4 | ||||
Other comprehensive income (loss), net of tax | 63.2 | 57.7 | ||||
Accumulated Defined Benefit Plans Adjustment [Member] | ||||||
Accumulated other comprehensive loss | -3,952.30 | -3,952.30 | -4,005.20 | -4,195.20 | ||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax | -27.5 | 10.2 | ||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment Realized upon Sale or Liquidation, Net of Tax | 80.4 | 232.7 | ||||
Other comprehensive income (loss), net of tax | 52.9 | 242.9 | ||||
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | ||||||
Accumulated other comprehensive loss | -124.6 | -124.6 | -103.4 | -101.2 | ||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax | -22.7 | -27.8 | ||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment Realized upon Sale or Liquidation, Net of Tax | 1.5 | 4.4 | ||||
Other comprehensive income (loss), net of tax | ($21.20) | ($23.40) |
Other_Net_Expense_Income_Detai
Other - Net, Expense (Income) (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Income related to the termination of the exenatide collaboration | $0 | ($787.80) | ($495.40) | ($787.80) | |
Interest Expense | 39.8 | 47 | 120.4 | 135.3 | |
Investment Income, Interest | -32.2 | -25.7 | -85.5 | -79 | |
Other (income)expense | 23.7 | -22 | -49.3 | 5.5 | |
Nonoperating Income (Expense), Total | 31.3 | -788.5 | -509.8 | -726 | |
Amylin [Member] | |||||
Income related to the termination of the exenatide collaboration | $0 | ($495.40) | ($787.80) | ($495.40) | ($787.80) |
Segment_Information_Details
Segment Information (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Revenue | $5,772.60 | $5,443.30 | $17,304.30 | $16,646 | |
Segment Reporting Information, Income (Loss) before Income Taxes | 1,513.40 | 1,874.70 | 4,979.40 | 4,395.70 | |
Income related to the termination of the exenatide collaboratio | 0 | 787.8 | 495.4 | 787.8 | |
Asset impairments, restructuring, and other special charges | 0 | -53.3 | -85.2 | -77.1 | |
Neuroscience [Member] | |||||
Revenue | 1,878.10 | 1,815.80 | 5,731.50 | 5,544 | |
Endocrinology [Member] | |||||
Revenue | 1,764.70 | 1,646.10 | 5,273.90 | 5,041.20 | |
Oncology [Member] | |||||
Revenue | 821.8 | 791.7 | 2,394.10 | 2,442.40 | |
Cardiovascular [Member] | |||||
Revenue | 715.6 | 650.9 | 2,140.90 | 1,936.40 | |
Animal health [Member] | |||||
Revenue | 530.3 | 479.4 | 1,573.10 | 1,482.40 | |
Segment Reporting Information, Income (Loss) before Income Taxes | 150.9 | 106 | 427.8 | 370 | |
Other pharmaceuticals [Member] | |||||
Revenue | 62.1 | 59.4 | 190.8 | 199.6 | |
Pharmaceutical products, total [Member] | |||||
Revenue | 5,242.30 | 4,963.90 | 15,731.20 | 15,163.60 | |
Segment Reporting Information, Income (Loss) before Income Taxes | 1,362.50 | 1,034.20 | 4,141.40 | 3,315 | |
Total segment [Member] | |||||
Segment Reporting Information, Income (Loss) before Income Taxes | 1,513.40 | 1,140.20 | 4,569.20 | 3,685 | |
Amylin [Member] | |||||
Income related to the termination of the exenatide collaboratio | $0 | $495.40 | $787.80 | $495.40 | $787.80 |