FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [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:

	March 31, 2019					December 31, 2018
Dollars in Millions	Level 1		Level 2			Level 1		Level 2
Cash and cash equivalents - money market and other investments	$	—	$	6,741		$	—	$	6,173
Marketable securities
Certificates of deposit	—		658			—		971
Commercial paper	—		139			—		273
Corporate debt securities	—		1,865			—		2,379
Equity investments	—		—			—		125
Derivative assets	—		63			—		44
Equity investments	164		272			88		266
Derivative liabilities	—		(10		)	—		(31		)

Available-for-sale Securities [Table Text Block]

Changes in fair value of equity investments are included in Other income (net). The following table summarizes the Company's debt and equity securities, classified as available-for-sale:

	March 31, 2019									December 31, 2018
Dollars in Millions	Amortized Cost		Gross Unrealized							Amortized Cost		Gross Unrealized
			Gains		Losses			Fair Value				Gains		Losses			Fair Value
Certificates of deposit	$	658	$	—	$	—		$	658	$	971	$	—	$	—		$	971
Commercial paper	139		—		—			139		273		—		—			273
Corporate debt securities	1,876		—		(11		)	1,865		2,416		—		(37		)	2,379
	$	2,673	$	—	$	(11	)	$	2,662	$	3,660	$	—	$	(37	)	$	3,623
Equity investments								436									479
Total								$	3,098								$	4,102

Dollars in Millions	March 31, 2019		December 31, 2018
Current marketable securities	$	1,429	$	1,973
Non-current marketable securities(a)	1,233		1,775
Other assets	436		354
Total	$	3,098	$	4,102

(a) All non-current marketable securities mature within five years as of March 31, 2019 and December 31, 2018.

Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Table Text Block]

The following table summarizes the net gain recorded for equity investments with readily determinable fair values held as of March 31, 2019 and 2018:

	Three Months Ended March 31,
Dollars in Millions	2019		2018
Net gain/(loss) recognized	$	95	$	15
Less: Net gain/(loss) recognized for equity investments sold	14		—
Net unrealized gain/(loss) on equity investments held	$	81	$	15

Schedule of Derivatives and Fair Value [Table Text Block]

The following table summarizes the fair value of outstanding derivatives:

	March 31, 2019									December 31, 2018
	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	$	—	$	—	$	255	$	(3	)	$	—	$	—	$	755	$	(10	)
Cross-currency interest rate swap contracts	175		2		125		(1		)	50		—		250		(5		)
Foreign currency forward contracts	1,642		58		302		(4		)	1,503		44		496		(10		)
Derivatives not designated as hedging instruments:
Foreign currency forward contracts	532		3		69		(2		)	54		—		600		(6		)
Forward starting interest rate swap options	7,600		—		—		—			—		—		—		—

(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:

	Three Months Ended March 31,
	2019					2018
Dollars in Millions	Cost of products sold		Other income (net)			Cost of products sold			Other income (net)
Interest rate swap contracts	$	—	$	5		$	—		$	7
Cross-currency interest rate swap contracts	—		2			—			2
Foreign currency forward contracts	30		(9		)	(20		)	(9		)
Forward starting interest rate swap options	—		(35		)	—			—

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 Income/(Loss):

	Three Months Ended March 31,
Dollars in Millions	2019			2018
Derivatives qualifying as cash flow hedges
Foreign currency forward contracts gain/(loss):
Recognized in Other Comprehensive Income/(Loss)(a)	$	45		$	(38	)
Reclassified to Cost of products sold	(30		)	20
Derivatives qualifying as net investment hedges
Cross-currency interest rate swap contracts gain/(loss):
Recognized in Other Comprehensive Income/(Loss)	6			(16		)
Non-derivatives qualifying as net investment hedges
Non U.S. dollar borrowings gain/(loss):
Recognized in Other Comprehensive Income/(Loss)	8			(46		)

(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:

Dollars in Millions	March 31, 2019		December 31, 2018
Non-U.S. short-term borrowings	$	321	$	320
Current portion of long-term debt	—		1,249
Other	60		134
Total	$	381	$	1,703

Schedule of Fair Value and Other Adjustments to Long Term Debt [Table Text Block]

Long-term debt and the current portion of long-term debt include:

Dollars in Millions	March 31, 2019			December 31, 2018
Principal Value	$	5,513		$	6,776
Adjustments to Principal Value
Fair value of interest rate swap contracts	(3		)	(10		)
Unamortized basis adjustment from swap terminations	194			201
Unamortized bond discounts and issuance costs	(69		)	(72		)
Total	$	5,635		$	6,895
Current portion of long-term debt	$	—		$	1,249
Long-term debt	5,635			5,646