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EQUITY
 12 Months Ended
Dec. 31, 2019
Equity [Abstract]  
Stockholders' Equity Note Disclosure [Text Block] EQUITY
 
Common Stock
 
Capital in Excess
of Par Value
of Stock
 
Accumulated Other Comprehensive Loss
 
Retained
Earnings
 
Treasury Stock
 
Noncontrolling
Interest
Dollars and Shares in Millions
Shares
 
Par Value
 
 
Shares
 
Cost
 
Balance at January 1, 2017
2,208

 
$
221

 
$
1,725

 
$
(2,503
)
 
$
33,513

 
536

 
$
(16,779
)
 
$
170

Accounting change - cumulative effect(a)
—

 
—

 
—

 
—

 
(787
)
 
—

 
—

 
—

Adjusted balance at January 1, 2017
2,208

 
221

 
1,725

 
(2,503
)
 
32,726

 
536

 
(16,779
)
 
170

Net earnings
—

 
—

 
—

 
—

 
1,007

 
—

 
—

 
27

Other Comprehensive Income/(Loss)
—

 
—

 
—

 
214

 
—

 
—

 
—

 
—

Cash dividends declared(c)
—

 
—

 
—

 
—

 
(2,573
)
 
—

 
—

 
—

Share repurchase program
—

 
—

 
—

 
—

 
—

 
44

 
(2,477
)
 
—

Stock compensation
—

 
—

 
173

 
—

 
—

 
(5
)
 
7

 
—

Variable interest entity
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(59
)
Distributions
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(32
)
Balance at December 31, 2017
2,208

 
221

 
1,898

 
(2,289
)
 
31,160

 
575

 
(19,249
)
 
106

Accounting change - cumulative effect(b)
—

 
—

 
—

 
(34
)
 
332

 
—

 
—

 
—

Adjusted balance at January 1, 2018
2,208

 
221

 
1,898

 
(2,323
)
 
31,492

 
575

 
(19,249
)
 
106

Net earnings
—

 
—

 
—

 
—

 
4,920

 
—

 
—

 
27

Other Comprehensive Income/(Loss)
—

 
—

 
—

 
(156
)
 
—

 
—

 
—

 
—

Cash dividends declared(c)
—

 
—

 
—

 
—

 
(2,630
)
 
—

 
—

 
—

Share repurchase program
—

 
—

 
—

 
—

 
—

 
5

 
(313
)
 
—

Stock compensation
—

 
—

 
183

 
—

 
—

 
(4
)
 
(12
)
 
—

Adoption of ASU 2018-02(b)
—

 
—

 
—

 
(283
)
 
283

 
—

 
—

 
—

Distributions
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(37
)
Balance at December 31, 2018
2,208

 
221

 
2,081

 
(2,762
)
 
34,065

 
576

 
(19,574
)
 
96

Accounting change - cumulative effect(b)
—

 
—

 
—

 
—

 
5

 
—

 
—

 
—

Adjusted balance at January 1, 2019
2,208

 
221

 
2,081

 
(2,762
)
 
34,070

 
576

 
(19,574
)
 
96

Net earnings
—

 
—

 
—

 
—

 
3,439

 
—

 
—

 
21

Other Comprehensive Income/(Loss)
—

 
—

 
—

 
1,242

 
—

 
—

 
—

 
—

Celgene acquisition
715

 
71

 
42,721

 
—

 
—

 
—

 
—

 
—

Cash dividends declared(c)
—

 
—

 
—

 
—

 
(3,035
)
 
—

 
—

 
—

Share repurchase program
—

 
—

 
(1,400
)
 
—

 
—

 
105

 
(5,900
)
 
—

Stock compensation
—

 
—

 
307

 
—

 
—

 
(9
)
 
117

 
—

Distributions
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(17
)
Balance at December 31, 2019
2,923

 
$
292

 
$
43,709

 
$
(1,520
)
 
$
34,474

 
672

 
$
(25,357
)
 
$
100


(a)
Cumulative effect resulting from adoption of ASU 2016-16.
(b)
Cumulative effect resulting from adoption of ASU 2014-09.
(c)
Cash dividends declared per common share were $1.68, $1.61 and $1.57 in 2019, 2018 and 2017, respectively.

BMS has a share repurchase program, authorized by its Board of Directors, allowing for repurchases of its shares effected in the open market or through privately negotiated transactions in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), including through Rule 10b5-1 trading plans. The share repurchase program does not have an expiration date and may be suspended or discontinued at any time. Treasury stock is recognized at the cost to reacquire the shares. Shares issued from treasury are recognized utilizing the first-in first-out method.

In the fourth quarter of 2019, BMS executed accelerated share repurchase agreements (“ASR”) with Morgan Stanley & Co. LLC and Barclays Bank PLC to repurchase an aggregate $7 billion of common stock. The ASR was funded with cash on-hand. Approximately 99 million shares of common stock, representing approximately 80% of the $7 billion aggregate repurchase price at the then current stock price, were delivered to BMS and included in treasury stock. The agreements are expected to settle during the second quarter of 2020, upon which additional shares of common stock may be delivered to BMS or, under certain circumstances, BMS may be required to make a cash payment or may elect to deliver shares of common stock to the counterparties. The total number of shares ultimately repurchased under the ASRs will be determined upon final settlement and will be based on a discount to the volume-weighted average price of BMS’s common stock during the ASR period.

BMS completed accelerated share repurchase agreements that repurchased approximately 36.5 million shares of common stock for an aggregate $2 billion in 2017. The agreements were funded through a combination of debt and cash.
The components of Other Comprehensive Income/(Loss) were as follows:
 
Year Ended December 31,
 
2019
 
2018
 
2017
Dollars in Millions
Pretax
 
Tax
 
After Tax
 
Pretax
 
Tax
 
After Tax
 
Pretax
 
Tax
 
After Tax
Derivatives qualifying as cash flow hedges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized gains/(losses)
$
65

 
$
(7
)
 
$
58

 
$
86

 
$
(9
)
 
$
77

 
$
(101
)
 
$
33

 
$
(68
)
Reclassified to net earnings(a)
(103
)
 
13

 
(90
)
 
(4
)
 
(3
)
 
(7
)
 
19

 
(8
)
 
11

Derivatives qualifying as cash flow hedges
(38
)
 
6

 
(32
)
 
82

 
(12
)
 
70

 
(82
)
 
25

 
(57
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pension and postretirement benefits:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Actuarial (losses)/gains
(143
)
 
28

 
(115
)
 
(89
)
 
(3
)
 
(92
)
 
47

 
11

 
58

Amortization(b)
55

 
(11
)
 
44

 
65

 
(13
)
 
52

 
77

 
(31
)
 
46

Settlements(b)
1,640

 
(366
)
 
1,274

 
121

 
(28
)
 
93

 
167

 
(57
)
 
110

Pension and postretirement benefits
1,552

 
(349
)
 
1,203

 
97

 
(44
)
 
53

 
291

 
(77
)
 
214

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Available-for-sale securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized gains/(losses)
42

 
(9
)
 
33

 
(30
)
 
5

 
(25
)
 
38

 
6

 
44

Realized losses/(gains)(b)
3

 
—

 
3

 
—

 
—

 
—

 
(7
)
 
2

 
(5
)
Available-for-sale securities
45

 
(9
)
 
36

 
(30
)
 
5

 
(25
)
 
31

 
8

 
39

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign currency translation
43

 
(8
)
 
35

 
(245
)
 
(9
)
 
(254
)
 
(20
)
 
38

 
18

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other Comprehensive Income/(Loss)
$
1,602

 
$
(360
)
 
$
1,242

 
$
(96
)
 
$
(60
)
 
$
(156
)
 
$
220

 
$
(6
)
 
$
214

(a)
Included in Cost of products sold.
(b)
Included in Other (income)/expense, net.

The accumulated balances related to each component of Other Comprehensive Income/(Loss), net of taxes, were as follows:
 
December 31,
Dollars in Millions
2019
 
2018
Derivatives qualifying as cash flow hedges
$
19

 
$
51

Pension and postretirement benefits
(899
)
 
(2,102
)
Available-for-sale securities
6

 
(30
)
Foreign currency translation
(646
)
 
(681
)
Accumulated other comprehensive loss
$
(1,520
)
 
$
(2,762
)