SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

12 Months Ended

Dec. 31, 2011

Selected Quarterly Financial Data (Unaudited) [Abstract]

Quarterly Financial Information [Text Block]

Note 24. SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

Dollars in Millions, except per share data	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Year
2011
Net Sales	$	5,011	$	5,434	$	5,345	$	5,454	$	21,244
Gross Margin		3,668		3,953		3,938		4,087		15,646
Net Earnings		1,367		1,307		1,355		1,231		5,260
Less Net Earnings Attributable to Noncontrolling Interest		381		405		386		379		1,551
Net Earnings Attributable to BMS		986		902		969		852		3,709
EPS - Basic(1)	$	0.58	$	0.53	$	0.57	$	0.50	$	2.18
EPS - Diluted(1)	$	0.57	$	0.52	$	0.56	$	0.50	$	2.16
Dividends declared per common share	$	0.33	$	0.33	$	0.33	$	0.34	$	1.33
Cash and cash equivalents	$	3,405	$	3,665	$	4,471	$	5,776	$	5,776
Marketable securities(2)		6,453		6,739		6,541		5,866		5,866
Dollars in Millions, except per share data	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Year
2010
Net Sales	$	4,807	$	4,768	$	4,798	$	5,111	$	19,484
Gross Margin		3,501		3,491		3,518		3,697		14,207
Net Earnings		1,101		1,268		1,302		842		4,513
Less Net Earnings Attributable to Noncontrolling Interest		358		341		353		359		1,411
Net Earnings Attributable to BMS		743		927		949		483		3,102
EPS - Basic(1)	$	0.43	$	0.54	$	0.55	$	0.28	$	1.80
EPS - Diluted(1)	$	0.43	$	0.53	$	0.55	$	0.28	$	1.79
Dividends declared per common share	$	0.32	$	0.32	$	0.32	$	0.33	$	1.29
Cash and cash equivalents	$	5,135	$	5,918	$	7,581	$	5,033	$	5,033
Marketable securities(2)		4,638		4,331		3,340		4,949		4,949

• Earnings per share for the quarters may not add to the amounts for the year, as each period is computed on a discrete basis.
• Marketable securities includes current and non-current assets.

The following specified items affected the comparability of results in 2011 and 2010:

2011
	First		Second		Third		Fourth
Dollars in Millions	Quarter		Quarter		Quarter		Quarter		Year
Provision for restructuring	$	44	$	40	$	8	$	24	$	116
Accelerated depreciation, asset impairment and other shutdown costs		23		18		19		15		75
Pension curtailment and settlement charges		-		-		-		13		13
Process standardization implementation costs		4		10		5		10		29
Gain on sale of product lines, businesses and assets		-		-		(12)		-		(12)
Litigation charges/(recoveries)		(102)		-		-		80		(22)
Upfront, milestone and other licensing payments, net		88		50		69		(20)		187
IPRD impairment		15		-		13		-		28
Product liability charges		26		-		10		(5)		31
Total		98		118		112		117		445
Income taxes on items above		(28)		(34)		(37)		(37)		(136)
Specified tax benefit*		(56)		(15)		-		(26)		(97)
Decrease to Net Earnings	$	14	$	69	$	75	$	54	$	212
* Relates to releases of tax reserves that were specified in prior periods.
2010
	First		Second		Third		Fourth
Dollars in Millions	Quarter		Quarter		Quarter		Quarter		Year
Provision for restructuring	$	11	$	24	$	15	$	63	$	113
Impairment and loss on sale of manufacturing operations		200		15		10		11		236
Accelerated depreciation, asset impairment and other shutdown costs		31		27		27		28		113
Pension curtailment and settlement charges		-		5		3		10		18
Process standardization implementation costs		13		6		8		8		35
Litigation charges/(recoveries)		-		-		22		(41)		(19)
Upfront, milestone and other licensing payments		55		17		-		60		132
IPRD impairment		-		-		-		10		10
Acquisition related items		-		-		-		10		10
Product liability charges		-		-		13		4		17
Total		310		94		98		163		665
Income taxes on items above		(86)		(18)		(30)		(46)		(180)
Out-of-period tax adjustment		-		(59)		-		-		(59)
Specified tax charge*		-		-		-		207		207
Decrease to Net Earnings	$	224	$	17	$	68	$	324	$	633
* Relates to a tax charge from additional U.S. taxable income from earnings of foreign subsidiaries previously considered to be permanently reinvested offshore.