XML 52 R41.htm IDEA: XBRL DOCUMENT v3.20.2
Hedging Activities and Fair Value Measurements (Details)
€ in Millions, £ in Millions, $ in Millions
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2020
USD ($)
units
Sep. 30, 2019
USD ($)
Sep. 30, 2020
USD ($)
units
Sep. 30, 2019
USD ($)
Sep. 30, 2019
GBP (£)
Dec. 31, 2019
USD ($)
Dec. 31, 2019
EUR (€)
Derivative Instruments, Gain (Loss) [Line Items]              
Payments for Hedge, Investing Activities     $ 0 $ 294      
Gain (Loss) on Cash Flow Hedge Ineffectiveness, Net     30     $ 34  
Derivative, Notional Amount $ 10,286   10,286     10,218  
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax (50) $ 78 36 136      
Cost of Goods and Services Sold 869 777 2,465 2,265      
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax 14 16 52 34      
Interest Expense 86 95 265 294      
Other Operating Income (Expense), Net (64)   (9)        
Gain (Loss) on Derivative Used in Net Investment Hedge, after Tax (5) (9) (14) (25)      
Derivative Asset, Fair Value, Gross Asset 325   325     321  
Derivative Liability, Fair Value, Gross Liability 1,116   1,116     1,037  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]              
Equity Securities, FV-NI 0   0     1  
Derivative Asset 179   179     216  
Licensing arrangements, asset 246   246     332  
Business Combination, Contingent Consideration, Liability 214   214     354  
Licensing arrangements, liability 262   262     374  
Cash 305   305     165  
Proceeds from secured borrowings relating to royalty arrangements     256        
Debt Instrument, Fair Value Disclosure 10,901   10,901     11,020  
November 2019 Aggregate Offering [Member]              
Derivative Instruments, Gain (Loss) [Line Items]              
Long-term Debt           1,000 € 900
December 2027 Notes [Member]              
Derivative Instruments, Gain (Loss) [Line Items]              
Long-term Debt $ 1,054   $ 1,054     1,011  
Debt Instrument, Interest Rate, Stated Percentage 0.625%   0.625%        
Licensing arrangement assets [Member]              
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]              
Proceeds from Royalties Received     $ (132)        
Increase (Decrease) in Fair Value Adjustments on Other Assets (Liabilities) Carried at Fair Value under Fair Value Option     9        
Licensing arrangement liabilities [Member]              
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]              
Payments for Royalties     (165)        
Increase (Decrease) in Fair Value Adjustments on Other Assets (Liabilities) Carried at Fair Value under Fair Value Option     7        
Euro-denominated outstanding debt [Member]              
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]              
Debt Instrument, Fair Value Disclosure $ 1,050   1,050     1,004  
Fair Value, Inputs, Level 3 [Member]              
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]              
Licensing arrangements, asset 396   396        
Licensing arrangements, liability 413   413        
Net Investment Hedging [Member]              
Derivative Instruments, Gain (Loss) [Line Items]              
Notional Value of Outstanding Net Investment Hedges 1,885   1,885     1,950  
Fair Value, Measurements, Recurring [Member]              
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]              
Money Market Funds, at Carrying Value 1,716   1,716     50  
Equity Securities, FV-NI 0   0     1  
Derivative Asset 325   325     321  
Licensing arrangements, asset 396   396     518  
Assets, Fair Value Disclosure 2,438   2,438     890  
Derivative Liability 1,116   1,116     1,037  
Business Combination, Contingent Consideration, Liability 214   214     354  
Licensing arrangements, liability 413   413     571  
Financial and Nonfinancial Liabilities, Fair Value Disclosure 1,743   1,743     1,963  
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]              
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]              
Money Market Funds, at Carrying Value 1,716   1,716     50  
Equity Securities, FV-NI 0   0     1  
Derivative Asset 0   0     0  
Licensing arrangements, asset 0   0     0  
Assets, Fair Value Disclosure 1,717   1,717     51  
Derivative Liability 0   0     0  
Business Combination, Contingent Consideration, Liability 0   0     0  
Licensing arrangements, liability 0   0     0  
Financial and Nonfinancial Liabilities, Fair Value Disclosure 0   0     0  
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]              
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]              
Money Market Funds, at Carrying Value 0   0     0  
Equity Securities, FV-NI 0   0     0  
Derivative Asset 325   325     321  
Licensing arrangements, asset 0   0     0  
Assets, Fair Value Disclosure 325   325     321  
Derivative Liability 1,116   1,116     1,037  
Business Combination, Contingent Consideration, Liability 0   0     0  
Licensing arrangements, liability 0   0     0  
Financial and Nonfinancial Liabilities, Fair Value Disclosure 1,116   1,116     1,037  
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]              
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]              
Money Market Funds, at Carrying Value 0   0     0  
Equity Securities, FV-NI 0   0     0  
Derivative Asset 0   0     0  
Licensing arrangements, asset 396   396     518  
Assets, Fair Value Disclosure 396   396     518  
Derivative Liability 0   0     0  
Business Combination, Contingent Consideration, Liability 214   214     354  
Licensing arrangements, liability 413   413     571  
Financial and Nonfinancial Liabilities, Fair Value Disclosure 627   627     925  
Designated as Hedging Instrument [Member]              
Derivative Instruments, Gain (Loss) [Line Items]              
Derivative Instruments in Hedges, Assets, at Fair Value 270   270     288  
Derivative Instruments in Hedges, Liabilities, at Fair Value 1,058   1,058     1,009  
Designated as Hedging Instrument [Member] | Other Noncurrent Liabilities [Member]              
Derivative Instruments, Gain (Loss) [Line Items]              
Derivative Instruments in Hedges, Liabilities, at Fair Value $ 1,042   $ 1,042     998  
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]              
Derivative Instruments, Gain (Loss) [Line Items]              
Forward Currency Contracts, Time to Maturity | units 60   60        
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Prepaid Expenses and Other Current Assets [Member]              
Derivative Instruments, Gain (Loss) [Line Items]              
Derivative Instruments in Hedges, Assets, at Fair Value $ 90   $ 90     72  
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Other Noncurrent Assets [Member]              
Derivative Instruments, Gain (Loss) [Line Items]              
Derivative Instruments in Hedges, Assets, at Fair Value 179   179     216  
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Other Current Liabilities [Member]              
Derivative Instruments, Gain (Loss) [Line Items]              
Derivative Instruments in Hedges, Liabilities, at Fair Value 6   6     3  
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Other Noncurrent Liabilities [Member]              
Derivative Instruments, Gain (Loss) [Line Items]              
Derivative Instruments in Hedges, Liabilities, at Fair Value 9   9     8  
Not Designated as Hedging Instrument [Member] | Other Nonoperating Income (Expense) [Member]              
Derivative Instruments, Gain (Loss) [Line Items]              
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments 29 (202) 20 (334)      
Foreign Currency Transaction Gain (Loss), before Tax (30) (4) (33) 0      
Net currency exchange gain (loss) (1) (207) (13) (334)      
Not Designated as Hedging Instrument [Member] | BTG Acquisition [Member]              
Derivative Instruments, Gain (Loss) [Line Items]              
Payments for Hedge, Investing Activities       294      
Not Designated as Hedging Instrument [Member] | BTG Acquisition [Member] | Other Nonoperating Income (Expense) [Member]              
Derivative Instruments, Gain (Loss) [Line Items]              
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments   (207)   (323)      
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]              
Derivative Instruments, Gain (Loss) [Line Items]              
Derivative, Notional Amount 4,283   4,283     4,377  
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Prepaid Expenses and Other Current Assets [Member]              
Derivative Instruments, Gain (Loss) [Line Items]              
Derivative Instruments Not Designated as Hedging Instruments, Asset, at Fair Value 56   56     33  
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Other Current Liabilities [Member]              
Derivative Instruments, Gain (Loss) [Line Items]              
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value $ 58   $ 58     29  
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | BTG Acquisition [Member]              
Derivative Instruments, Gain (Loss) [Line Items]              
Derivative, Cash Received on Hedge       4,303 £ 3,312    
Weighted Average [Member] | Licensing arrangement assets [Member]              
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]              
Discount Rate, Fair Value Input 15.00%   15.00%        
Weighted Average [Member] | Licensing arrangement liabilities [Member]              
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]              
Discount Rate, Fair Value Input 13.00%   13.00%        
Minimum [Member] | Licensing arrangement assets [Member]              
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]              
Discount Rate, Fair Value Input 11.00%   11.00%        
Minimum [Member] | Licensing arrangement liabilities [Member]              
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]              
Discount Rate, Fair Value Input 12.00%   12.00%        
Maximum [Member] | Licensing arrangement assets [Member]              
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]              
Discount Rate, Fair Value Input 15.00%   15.00%        
Maximum [Member] | Licensing arrangement liabilities [Member]              
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]              
Discount Rate, Fair Value Input 15.00%   15.00%        
Cash Flow Hedging [Member] | Foreign Exchange Contract [Member] | Cost of Sales [Member]              
Derivative Instruments, Gain (Loss) [Line Items]              
Foreign Currency Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months $ 79   $ 79        
Cash Flow Hedging [Member] | Interest Rate Contract [Member] | Interest Expense [Member]              
Derivative Instruments, Gain (Loss) [Line Items]              
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net (5)   (5)        
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]              
Derivative Instruments, Gain (Loss) [Line Items]              
Derivative, Notional Amount 4,118   4,118     3,891  
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Cost of Sales [Member]              
Derivative Instruments, Gain (Loss) [Line Items]              
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax (64) 101 47 176      
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax 14 (23) (11) (40)      
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax (50) 78 36 136      
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax (20) (22) (70) (47)      
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax 4 5 16 10      
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax (15) (17) (55) (36)      
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Interest Expense [Member]              
Derivative Instruments, Gain (Loss) [Line Items]              
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax 0 0 0 0      
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax 0 0 0 0      
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax 0 0 0 0      
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax 1 1 4 3      
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax 0 0 (1) (1)      
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax 1 1 3 2      
Net Investment Hedging [Member] | Foreign Exchange Contract [Member] | Interest Expense [Member]              
Derivative Instruments, Gain (Loss) [Line Items]              
Derivative Used in Net Investment Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net 17   17        
Net Investment Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]              
Derivative Instruments, Gain (Loss) [Line Items]              
Derivative, Notional Amount 991   991     953  
Net Investment Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Interest Expense [Member]              
Derivative Instruments, Gain (Loss) [Line Items]              
Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), before Reclassification and Tax (21) 64 (4) 92      
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), before Adjustments, Tax 5 (14) (21) (21)      
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), before Adjustments, after Tax (16) 50 (25) 71      
Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), Reclassification, before Tax (6) (12) (18) (33)      
Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), after Reclassification, Tax 1 3 4 7      
Gain (Loss) on Derivative Used in Net Investment Hedge, after Tax (5) $ (9) (14) $ (25)      
Net Investment Hedging [Member] | Designated as Hedging Instrument [Member] | foreign currency denominated in debt [Member]              
Derivative Instruments, Gain (Loss) [Line Items]              
Derivative, Notional Amount 894   894     $ 997  
Net Investment Hedging [Member] | Designated as Hedging Instrument [Member] | foreign currency denominated in debt [Member] | Interest Expense [Member]              
Derivative Instruments, Gain (Loss) [Line Items]              
Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), before Reclassification and Tax (46)   (44)        
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), before Adjustments, Tax 10   13        
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), before Adjustments, after Tax (36)   (31)        
Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), Reclassification, before Tax 0   0        
Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), after Reclassification, Tax 0   0        
Gain (Loss) on Derivative Used in Net Investment Hedge, after Tax $ 0   $ 0