FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2019

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, 2019							December 31, 2018
Dollars in Millions	Level 1		Level 2			Level 3		Level 1		Level 2
Cash and cash equivalents - Money market and other securities	$	—	$	10,448		$	—	$	—	$	6,173
Marketable debt securities:
Certificates of deposit	—		1,227			—		—		971
Commercial paper	—		1,093			—		—		273
Corporate debt securities	—		1,494			—		—		2,379
Derivative assets	—		140			—		—		44
Equity investments	2,020		175			—		88		391
Derivative liabilities	—		(40		)	—		—		(31		)
Contingent consideration liability:
Contingent value rights	2,275		—			—		—		—
Other acquisition related contingent consideration	—		—			106		—		—

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block]

	Ranges (weighted average) utilized as of:
Inputs	December 31, 2019
Discount rate	2.2% to 3.2% (2.6%)
Probability of payment	0% to 68% (4.1%)
Projected year of payment for development and regulatory milestones	2020 to 2029 (2024)
Projected year of payment for sales-based milestones and other amounts calculated as a percentage of annual sales	N/A

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

Dollars in Millions	Year Ended December 31, 2019
Fair value as of January 1	$	—
Celgene acquisition	106
Fair value as of December 31	$	106

Available-for-sale Securities [Table Text Block]

	December 31, 2019									December 31, 2018
Dollars in Millions	Amortized Cost		Gross Unrealized					Fair Value		Amortized Cost		Gross Unrealized					Fair Value
			Gains		Losses							Gains		Losses
Certificates of deposit	$	1,227	$	—	$	—		$	1,227	$	971	$	—	$	—		$	971
Commercial paper	1,093		—		—			1,093		273		—		—			273
Corporate debt securities	1,487		8		(1		)	1,494		2,416		—		(37		)	2,379
	$	3,807	$	8	$	(1	)	3,814		$	3,660	$	—	$	(37	)	3,623
Equity investments								2,195									479
Total								$	6,009								$	4,102

	December 31,
Dollars in Millions	2019		2018
Marketable debt securities - current	$	3,047	$	1,848
Other current assets	—		125
Marketable debt securities - non-current(a)	767		1,775
Other non-current assets	2,195		354
Total	$	6,009	$	4,102

(a)

All non-current marketable debt securities mature within five years as of December 31, 2019 and December 31, 2018.

Debt Securities, Trading, and Equity Securities, FV-NI [Table Text Block]

The following table summarizes net gain/(loss) recorded for equity investments with readily determinable fair values held as of December 31, 2019:

	Year Ended December 31,
Dollars in Millions	2019		2018
Net gain/(loss) recognized	$	170	$	(530	)
Less: Net gain recognized for equity investments sold	14		7
Net unrealized gain/(loss) on equity investments held	$	156	$	(537	)

Schedule of Derivatives and Fair Value [Table Text Block]

The following summarizes the fair value of outstanding derivatives:

	December 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	$	6	$	—	$	—		$	—	$	—	$	755	$	(10	)
Cross-currency interest rate swap contracts	175		2		125		(1		)	50		—		250		(5		)
Foreign currency forward contracts	766		27		980		(20		)	1,503		44		496		(10		)
Derivatives not designated as hedging instruments:
Foreign currency forward contracts	2,342		91		1,173		(10		)	54		—		600		(6		)
Foreign currency zero-cost collar contracts	2,482		14		2,235		(9		)	—		—		—		—

(a) Included in Other current assets and Other non-current assets.

(b)

Included in Other current liabilities and Other non-current 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,
	2019						2018						2017
Dollars in Millions	Cost of products sold			Other (income)/expense, net			Cost of products sold			Other (income)/expense, net			Cost of products sold			Other (income)/expense, net
Interest rate swap contracts	$	—		$	(24	)	$	—		$	(23	)	$	—		$	(31	)
Cross-currency interest rate swap contracts	—			(9		)	—			(8		)	—			—
Foreign currency forward contracts	(103		)	11			(4		)	(14		)	(12		)	52
Forward starting interest rate swap option contracts	—			35			—			—			—			—
Deal contingent forward starting interest rate swap contracts	—			240			—			—			—			—
Foreign currency zero-cost collar contracts	—			2			—			—			—			—

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):

	Year Ended December 31,
Dollars in Millions	2019			2018			2017
Derivatives qualifying as cash flow hedges
Foreign currency forward contracts gain/(loss):
Recognized in Other Comprehensive Income/(Loss)(a)	$	65		$	86		$	(108	)
Reclassified to Cost of products sold	(103		)	(4		)	(12		)
Reclassified to Other (income)/expense, net	—			—			36
Derivatives qualifying as net investment hedges
Cross-currency interest rate swap contracts gain/(loss):
Recognized in Other Comprehensive Income/(Loss)	6			(5		)	—
Non-derivatives qualifying as net investment hedges
Non U.S. dollar borrowings gain/(loss):
Recognized in Other Comprehensive Income/(Loss)	29			45			(134		)

(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	2019		2018
Non-U.S. short-term borrowings	$	351	$	320
Current portion of long-term debt	2,763		1,249
Other	232		134
Total	$	3,346	$	1,703

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	2019		2018
Principal Value:
1.600% Notes due 2019	$	—	$	750
1.750% Notes due 2019	—		500
Floating Rate Notes due 2020	750		—
2.875% Notes due 2020	1,500		—
3.950% Notes due 2020	500		—
2.250% Notes due 2021	500		—
2.550% Notes due 2021	1,000		—
2.875% Notes due 2021	500		—
Floating Rate Notes due 2022	500		—
2.000% Notes due 2022	750		750
2.600% Notes due 2022	1,500		—
3.250% Notes due 2022	1,000		—
3.550% Notes due 2022	1,000		—
2.750% Notes due 2023	750		—
3.250% Notes due 2023	500		500
3.250% Notes due 2023	1,000		—
4.000% Notes due 2023	700		—
7.150% Notes due 2023	302		302
2.900% Notes due 2024	3,250		—
3.625% Notes due 2024	1,000		—
1.000% Euro Notes due 2025	638		655
3.875% Notes due 2025	2,500		—
3.200% Notes due 2026	2,250		—
6.800% Notes due 2026	256		256
3.250% Notes due 2027	750		750
3.450% Notes due 2027	1,000		—
3.900% Notes due 2028	1,500		—
3.400% Notes due 2029	4,000		—
1.750% Euro Notes due 2035	638		655
5.875% Notes due 2036	287		287
6.125% Notes due 2038	226		226
4.125% Notes due 2039	2,000		—
5.700% Notes due 2040	250		—
3.250% Notes due 2042	500		500
5.250% Notes due 2043	400		—
4.500% Notes due 2044	500		500
4.625% Notes due 2044	1,000		—
5.000% Notes due 2045	2,000		—
4.350% Notes due 2047	1,250		—
4.550% Notes due 2048	1,500		—
4.250% Notes due 2049	3,750		—
6.875% Notes due 2097	87		87
0.13% - 5.75% Other - maturing through 2024	51		58
Total	$	44,335	$	6,776

	December 31,
Dollars in Millions	2019			2018
Principal Value	$	44,335		$	6,776
Adjustments to Principal Value:
Fair value of interest rate swap contracts	6			(10		)
Unamortized basis adjustment from swap terminations	175			201
Unamortized bond discounts and issuance costs	(280		)	(72		)
Unamortized purchase price adjustments of Celgene debt	1,914			—
Total	$	46,150		$	6,895
Current portion of long-term debt	2,763			1,249
Long-term debt	43,387			5,646
Total	$	46,150		$	6,895