Hedging Activities and Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2018

Derivative [Line Items]

Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]

The following table presents the contractual amounts of our derivative instruments outstanding:

(in millions)	FASB ASC Topic 815 Designation	As of
		September 30, 2018		December 31, 2017
Forward currency contracts	Cash flow hedge	$	4,115	$	3,252
Forward currency contracts	Net investment hedge	1,455		—
Forward currency contracts	Non-designated	2,804		2,671
Total Notional Outstanding		$	8,374	$	5,923

Derivative Instruments, Gain (Loss) [Table Text Block]

The following table presents the effect of our derivative instruments designated as cash flow hedges and net investment hedges under FASB ASC Topic 815 on our accompanying unaudited condensed consolidated statements of operations:

(in millions)	Unaudited Condensed Consolidated Statements of Operations			Effective Amount Recognized in OCI									Effective Amount Reclassified from AOCI into Earnings
	Location	Total		Pre-Tax Gain (Loss)			Tax Benefit (Expense)			Gain (Loss) Net of Tax			Pre-Tax (Gain) Loss			Tax (Benefit) Expense			(Gain) Loss Net of Tax
Three Months Ended September 30, 2018
Forward currency contracts	Cost of products sold	$	672	$	58		$	(13	)	$	45		$	2		$	—		$	2
Forward currency contracts	Interest expense	58		4			(1		)	3			(10		)	2			(8		)
				$	63		$	(14	)	$	49		$	(8	)	$	2		$	(6	)
Three Months Ended September 30, 2017
Forward currency contracts	Cost of products sold	$	637	$	(24	)	$	9		$	(15	)	$	(14	)	$	5		$	(9	)
				$	(24	)	$	9		$	(15	)	$	(14	)	$	5		$	(9	)
Nine Months Ended September 30, 2018
Forward currency contracts	Cost of products sold	$	2,084	$	135		$	(30	)	$	105		$	27		$	(6	)	$	21
Interest rate derivative contracts	Interest expense	177		—			—			—			(1		)	—			(1		)
Forward currency contracts	Interest expense	177		25			(6		)	19			(17		)	4			(13		)
				$	160		$	(36	)	$	124		$	9		$	(2	)	$	7
Nine Months Ended September 30, 2017
Forward currency contracts	Cost of products sold	$	1,919	$	(88	)	$	32		$	(56	)	$	(68	)	$	25		$	(43	)
Interest rate derivative contracts	Interest expense	172		—			—			—			(1		)	—			(1		)
				$	(88	)	$	32		$	(56	)	$	(69	)	$	25		$	(44	)

Derivative Instruments, Gain (Loss) that may be Reclassified from AOCI to Earnings within Twelve Months [Table Text Block]

As of September 30, 2018, pre-tax net gains or losses for our derivative instruments designated, or previously designated, as fair value and cash flow hedges under FASB ASC Topic 815 that may be reclassified to earnings within the next twelve months are presented below (in millions):

Designated Derivative Instrument	FASB ASC Topic 815 Designation	Location in Unaudited Condensed Consolidated Statements of Operations	Amount of Pre-Tax Gain (Loss) that may be Reclassified to Earnings
Interest rate derivative contracts	Fair value hedge	Interest expense	$	12
Interest rate derivative contracts	Cash flow hedge	Interest expense	1
Forward currency contracts	Cash flow hedge	Cost of products sold	43
Forward currency contracts	Net investment hedge	Interest expense	41

Derivatives Not Designated as Hedging Instruments [Table Text Block]

Net gains and losses on currency hedge contracts not designated as hedging instruments offset by net gains and losses from currency transaction exposures are presented below:

	Location in Unaudited Condensed Consolidated Statements of Operations	Three Months Ended September 30,						Nine Months Ended September 30,
(in millions)		2018			2017			2018			2017
Net gain (loss) on currency hedge contracts	Other, net	$	16		$	(13	)	$	25		$	(25	)
Net gain (loss) on currency transaction exposures	Other, net	(23		)	9			(40		)	13
Net currency exchange gain (loss)		$	(6	)	$	(4	)	$	(15	)	$	(12	)

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The following are the balances of our derivative assets and liabilities:

	Location in Unaudited Condensed Consolidated Balance Sheets (1)	As of
(in millions)		September 30, 2018		December 31, 2017
Derivative Assets:
Designated Derivative Instruments
Forward currency contracts	Other current assets	$	48	$	7
Forward currency contracts	Other long-term assets	147		57
		195		64
Non-Designated Derivative Instruments
Forward currency contracts	Other current assets	61		18
Total Derivative Assets		$	256	$	82
Derivative Liabilities:
Designated Derivative Instruments
Forward currency contracts	Other current liabilities	$	5	$	37
Forward currency contracts	Other long-term liabilities	10		33
		14		69
Non-Designated Derivative Instruments
Forward currency contracts	Other current liabilities	29		21
Total Derivative Liabilities		$	44	$	90

(1) We classify derivative assets and liabilities as current when the settlement date of the derivative contract is one year or less.

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

Assets and liabilities measured at fair value on a recurring basis consist of the following:

	As of
	September 30, 2018								December 31, 2017
(in millions)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Money market and government funds	$	30	$	—	$	—	$	30	$	21	$	—	$	—	$	21
Publicly-held securities	1		—		—		1		15		—		—		15
Forward currency contracts	—		256		—		256		—		82		—		82
	$	31	$	256	$	—	$	287	$	36	$	82	$	—	$	118
Liabilities
Forward currency contracts	$	—	$	44	$	—	$	44	$	—	$	90	$	—	$	90
Contingent consideration liability	—		—		305		305		—		—		169		169
	$	—	$	44	$	305	$	349	$	—	$	90	$	169	$	259