XML 76 R20.htm IDEA: XBRL DOCUMENT v2.4.0.6
EQUITY
6 Months Ended
Jun. 30, 2012
Equity [Abstract]  
Stockholders Equity Note Disclosure [Text Block]

Note 13. EQUITY

      Capital in Excess        
 Common Stock of Par Value Retained Treasury Stock Noncontrolling
Dollars and Shares in MillionsShares Par Value   of Stock   Earnings Shares Cost Interest
Balance at January 1, 2011 2,205 $ 220 $ 3,682 $ 31,636  501 $ (17,454) $ (75)
Net earnings attributable to BMS -   -   -   1,888  -   -   -
Cash dividends declared -   -   -   (1,132)  -   -   -
Stock repurchase program -   -   -   -  14   (386)   -
Employee stock compensation plans -   -   (361)   -  (15)   649   -
Net earnings attributable to noncontrolling                  
interest -   -   -   -  -   -   1,186
Distributions -   -   -   -  -   -   (1,319)
Balance at June 30, 2011 2,205 $ 220 $ 3,321 $ 32,392  500 $ (17,191) $ (208)
                   
Balance at January 1, 2012 2,205 $ 220 $ 3,114 $ 33,069  515 $ (17,402) $ (89)
Net earnings attributable to BMS -   -   -   1,746  -   -   -
Cash dividends declared -   -   -   (1,154)  -   -   -
Stock repurchase program -   -   -   -  27   (875)   -
Employee stock compensation plans 3   1   (331)   -  (12)   677   -
Net earnings attributable to noncontrolling                  
interest -   -   -   -  -   -   859
Distributions -   -   -   -  -   -   (1,056)
Balance at June 30, 2012 2,208 $ 221 $ 2,783 $ 33,661  530 $ (17,600) $ (286)

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 June 2012, the Board of Directors increased its authorization for the repurchase of common stock by $3.0 billion, with $3.3 billion of common stock repurchase capacity remaining as of June 30, 2012. Repurchases may be made either in the open market or through private transactions, including under repurchase plans established in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934. The stock repurchase program does not have an expiration date and is expected to take place over a couple of years. It may be suspended or discontinued at any time.

 

Noncontrolling interest is primarily related to the partnerships with Sanofi for the territory covering the Americas for net sales of Plavix*. Net earnings attributable to noncontrolling interest are presented net of taxes of $91 million and $204 million for the three months ended June 30, 2012 and 2011, respectively, and $320 million and $400 million for the six months ended June 30, 2012 and 2011, respectively, in the consolidated statements of earnings with a corresponding increase to the provision for income taxes. Distribution of the partnership profits to Sanofi and Sanofi's funding of ongoing partnership operations occur on a routine basis. The above activity includes the pre-tax income and distributions related to these partnerships.

 

The accumulated balances related to each component of other comprehensive income/(loss) (OCI), net of taxes, were as follows:

 Foreign Derivatives  Pension and Other Available Accumulated Other
 Currency Qualifying as Postretirement for Comprehensive
Dollars in Millions    Translation    Effective Hedges    Benefits    Sale Securities Income/(Loss)
Balance at January 1, 2011$ (222) $ (20) $ (2,163) $ 34 $ (2,371)
Other comprehensive income/(loss)  (29)   (44)   37   18   (18)
Balance at June 30, 2011$ (251) $ (64) $ (2,126) $ 52 $ (2,389)
               
Balance at January 1, 2012$ (238) $ 36 $ (2,905) $ 62 $ (3,045)
Other comprehensive income/(loss)  7   12   60   (1)   78
Balance at June 30, 2012$ (231) $ 48 $ (2,845) $ 61 $ (2,967)