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FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)
12 Months Ended
Dec. 31, 2018
Financial Instruments [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
Financial assets and liabilities measured at fair value on a recurring basis are summarized below:
 
 
December 31, 2018
 
December 31, 2017
Dollars in Millions
 
Level 1
 
Level 2
 
Level 1
 
Level 2
Cash and cash equivalents - Money market and other securities
 
$

 
$
6,173

 
$

 
$
4,728

Marketable securities:
 
 
 
 
 
 
 
 
Certificates of deposit
 

 
971

 

 
141

Commercial paper
 

 
273

 

 
50

Corporate debt securities
 

 
2,379

 

 
3,548

Equity investments
 

 
125

 

 
132

Derivative assets
 

 
44

 

 
13

Equity investments
 
88

 
266

 
67

 

Derivative liabilities
 

 
(31
)
 

 
(52
)
Available-for-sale Securities [Table Text Block]
:
 
December 31, 2018
 
December 31, 2017
Dollars in Millions
Amortized
Cost
 
Gross Unrealized
 
Fair Value
 
Amortized
Cost
 
Gross Unrealized
 
Fair Value
Gains
 
Losses
Gains
 
Losses
Certificates of deposit
$
971

 
$

 
$

 
$
971

 
$
141

 
$

 
$

 
$
141

Commercial paper
273

 

 

 
273

 
50

 

 

 
50

Corporate debt securities
2,416

 

 
(37
)
 
2,379

 
3,555

 
3

 
(10
)
 
3,548

Equity investments(a)

 

 

 

 
31

 
37

 
(1
)
 
67

 
$
3,660

 
$

 
$
(37
)
 
$
3,623

 
$
3,777

 
$
40

 
$
(11
)
 
$
3,806

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity investments(b)
 
 
 
 
 
479

 
 
 
 
 
 
 
132

Total
 
 
 
 
 
 
$
4,102

 
 
 
 
 
 
 
$
3,938



Dollars in Millions
December 31,
2018
 
December 31,
2017
Current marketable securities
$
1,973

 
$
1,391

Non-current marketable securities(c)
1,775

 
2,480

Other assets(a)
354

 
67

Total
$
4,102

 
$
3,938

(a)
Includes equity investments with readily determinable fair values not measured using the fair value option as of December 31, 2017.
(b)
Includes equity and fixed income funds measured using the fair value option at December 31, 2017. Refer to “Note.1 Accounting Policies and Recently Issued Accounting Standards” for more information.
(c)
All non-current marketable securities mature within five years as of December 31, 2018 and December 31, 2017.
Debt Securities, Trading, and Equity Securities, FV-NI [Table Text Block]
The following table summarizes net loss recorded for equity investments with readily determinable fair values held as of December 31, 2018:
 
 
Year Ended December 31,
Dollars in Millions
 
2018
Net loss recognized
 
$
(530
)
Less: Net gain recognized for equity investments sold
 
7

Net unrealized loss on equity investments held
 
$
(537
)
Schedule of Derivatives and Fair Value [Table Text Block]
The following summarizes the fair value of outstanding derivatives:
 
December 31, 2018
 
December 31, 2017
 
Asset(a)
 
Liability(b)
 
Asset(a)
 
Liability(b)
Dollars in Millions
Notional
 
Fair Value
 
Notional
 
Fair Value
 
Notional
 
Fair Value
 
Notional
 
Fair Value
Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate swap contracts
$

 
$

 
$
755

 
$
(10
)
 
$

 
$

 
$
755

 
$
(6
)
Cross-currency interest rate swap contracts
50

 

 
250

 
(5
)
 

 

 

 

Foreign currency forward contracts
1,503

 
44

 
496

 
(10
)
 
944

 
12

 
489

 
(9
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign currency forward contracts
54

 

 
600

 
(6
)
 
206

 
1

 
1,369

 
(37
)

(a)
Included in prepaid expenses and other and other assets.
(b)
Included in accrued liabilities and pension and other liabilities.
Derivative Instruments, Gain (Loss) [Table Text Block]
The following table summarizes the financial statement classification and amount of gain/(loss) recognized on hedging instruments:
 
Year Ended December 31,
 
2018
 
2017
 
2016
Dollars in Millions
Cost of products sold
 
Other income (net)
 
Cost of products sold
 
Other income (net)
 
Cost of products sold
 
Other income (net)
Interest rate swap contracts
$

 
$
23

 
$

 
$
31

 
$

 
$
36

Cross-currency interest rate swap contracts

 
8

 

 

 

 

Foreign currency forward contracts
4

 
14

 
12

 
(52
)
 
(20
)
 
(36
)
Gain/(Loss) on Hedging Activity [Table Text Block]
The following table summarizes the effect of derivative and non-derivative instruments designated as hedging instruments in Other Comprehensive (Loss)/Income:
 
 
Year Ended December 31,
Dollars in Millions
 
2018
 
2017
 
2016
Derivatives qualifying as cash flow hedges
 
 
 
 
 
 
Foreign currency forward contracts gain/(loss):
 
 
 
 
 
 
Recognized in Other Comprehensive (Loss)/Income(a)
 
$
86

 
$
(108
)
 
$
6

Reclassified to Cost of products sold
 
(4
)
 
(12
)
 
20

Reclassified to Other income (net)
 

 
36

 
(8
)
 
 
 
 
 
 
 
Derivatives qualifying as net investment hedges
 
 
 
 
 
 
Cross-currency interest rate swap contracts loss:
 
 
 
 
 
 
Recognized in Other Comprehensive (Loss)/Income
 
(5
)
 

 

 
 
 
 
 
 
 
Non-derivatives qualifying as net investment hedges
 
 
 
 
 
 
Non U.S. dollar borrowings gain/(loss):
 
 
 
 
 
 
Recognized in Other Comprehensive (Loss)/Income
 
45

 
(134
)
 
48

(a)
The amount is expected to be reclassified into earnings in the next 12 months.
Schedule of Short-term Debt [Table Text Block]
Short-term debt obligations include:
 
December 31,
Dollars in Millions
2018
 
2017
Commercial paper
$

 
$
299

Non-U.S. short-term borrowings
320

 
512

Current portion of long-term debt
1,249

 

Other
134

 
176

Total
$
1,703

 
$
987

Schedule of Long-term Debt Instruments [Table Text Block]
Long-term debt and the current portion of long-term debt includes:
 
 
December 31,
Dollars in Millions
 
2018
 
2017
Principal Value:
 
 
 
 
1.750% Notes due 2019
 
$
500

 
$
500

1.600% Notes due 2019
 
750

 
750

2.000% Notes due 2022
 
750

 
750

7.150% Notes due 2023
 
302

 
302

3.250% Notes due 2023
 
500

 
500

1.000% Euro Notes due 2025
 
655

 
682

6.800% Notes due 2026
 
256

 
256

3.250% Notes due 2027
 
750

 
750

1.750% Euro Notes due 2035
 
655

 
682

5.875% Notes due 2036
 
287

 
287

6.125% Notes due 2038
 
226

 
230

3.250% Notes due 2042
 
500

 
500

4.500% Notes due 2044
 
500

 
500

6.875% Notes due 2097
 
87

 
87

0.13% - 5.75% Other - maturing 2019 - 2024
 
58

 
59

Subtotal
 
6,776

 
6,835

 
 
 
 
 
Adjustments to Principal Value:
 
 
 
 
Fair value of interest rate swap contracts
 
(10
)
 
(6
)
Unamortized basis adjustment from swap terminations
 
201

 
227

Unamortized bond discounts and issuance costs
 
(72
)
 
(81
)
Total
 
$
6,895

 
$
6,975

 
 
 
 
 
Current portion of long-term debt
 
$
1,249

 
$

Long-term debt
 
5,646

 
6,975


Schedule of Note Issuances [Table Text Block]
The following table summarizes the issuance of long-term debt obligations in 2017 (none in 2018 and 2016):
Dollars in Millions
2017
Principal Value:
 
1.600% Notes due 2019
$
750

3.250% Notes due 2027
750

Total
$
1,500

 
 
Proceeds net of discount and deferred loan issuance costs
$
1,488

 
 
Forward starting interest rate swap contracts terminated:
 
Notional amount
$
750

Realized gain
6

Unrealized loss
(2
)
Schedule of Debt Repurchases [Table Text Block]
The following summarizes the debt redemption activity:
Dollars in Millions
2017
Principal amount
$
337

Carrying value
366

Debt redemption price
474

Loss on debt redemption(a)
109