2015 Q4 Form 10-K Financial Statement

#000031015816000063 Filed on February 26, 2016

View on sec.gov

Income Statement

Concept 2015 Q4 2014 Q4 2013 Q4
Revenue $10.22B $10.48B $11.32B
YoY Change -2.55% -7.4% -3.56%
Cost Of Revenue $3.736B $3.644B $4.607B
YoY Change 2.52% -20.9% 57.02%
Gross Profit $6.479B $6.838B $6.713B
YoY Change -5.25% 1.86% -23.75%
Gross Profit Margin 63.43% 65.24% 59.3%
Selling, General & Admin $2.560B $2.787B $2.982B
YoY Change -8.14% -6.54% -9.14%
% of Gross Profit 39.51% 40.76% 44.42%
Research & Development $1.693B $2.081B $1.837B
YoY Change -18.64% 13.28% -16.39%
% of Gross Profit 26.13% 30.43% 27.36%
Depreciation & Amortization $1.560B $1.573B $1.954B
YoY Change -0.83% -19.5% 17.64%
% of Gross Profit 24.08% 23.0% 29.11%
Operating Expenses $4.253B $4.868B $4.819B
YoY Change -12.63% 1.02% -12.05%
Operating Profit $2.226B $1.970B $1.894B
YoY Change 12.99% 4.01% -43.04%
Interest Expense $134.0M -$139.0M -$363.0M
YoY Change -196.4% -61.71% -964.29%
% of Operating Profit 6.02% -7.06% -19.17%
Other Income/Expense, Net $122.0M $10.77B $259.0M
YoY Change -98.87% 4059.85% -153.96%
Pretax Income $816.0M $11.81B $1.225B
YoY Change -93.09% 864.16% -8.24%
Income Tax -$166.0M $4.484B $410.0M
% Of Pretax Income -20.34% 37.96% 33.47%
Net Earnings $977.0M $7.316B $781.0M
YoY Change -86.65% 836.75% -13.99%
Net Earnings / Revenue 9.56% 69.8% 6.9%
Basic Earnings Per Share
Diluted Earnings Per Share $347.2K $2.535M $263.6K
COMMON SHARES
Basic Shares Outstanding 2.794B shares 2.851B shares 2.922B shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q4 2014 Q4 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.32B $15.74B $17.52B
YoY Change -15.35% -10.16% 8.48%
Cash & Equivalents $8.524B $7.441B $15.62B
Short-Term Investments $4.800B $8.300B $1.900B
Other Short-Term Assets $5.140B $4.689B $4.789B
YoY Change 9.62% -2.09% 6.21%
Inventory $4.700B $5.571B $6.226B
Prepaid Expenses
Receivables $6.484B $6.626B $7.184B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $29.75B $32.61B $35.69B
YoY Change -8.75% -8.63% 2.38%
LONG-TERM ASSETS
Property, Plant & Equipment $12.51B $13.14B $14.97B
YoY Change -4.79% -12.27% -6.59%
Goodwill $17.72B $12.99B $12.30B
YoY Change 36.41% 5.62% 1.38%
Intangibles $22.60B $20.39B $23.80B
YoY Change 10.87% -14.35% -18.16%
Long-Term Investments $702.0M $337.0M $1.600B
YoY Change 108.31% -78.94% 23.08%
Other Assets $6.037B $5.196B $9.115B
YoY Change 16.19% -43.0% 35.58%
Total Long-Term Assets $71.93B $65.56B $69.96B
YoY Change 9.71% -6.29% -1.84%
TOTAL ASSETS
Total Short-Term Assets $29.75B $32.61B $35.69B
Total Long-Term Assets $71.93B $65.56B $69.96B
Total Assets $101.7B $98.17B $105.6B
YoY Change 3.58% -7.08% -0.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.533B $2.625B $2.274B
YoY Change -3.5% 15.44% 29.72%
Accrued Expenses $11.18B $10.44B $9.501B
YoY Change 7.11% 9.83% -2.42%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.300B $1.000B $2.100B
YoY Change 130.0% -52.38% 16.67%
Total Short-Term Liabilities $19.20B $18.40B $17.87B
YoY Change 4.37% 2.96% -2.62%
LONG-TERM LIABILITIES
Long-Term Debt $23.83B $18.70B $20.54B
YoY Change 27.43% -8.96% 26.36%
Other Long-Term Liabilities $7.345B $7.813B $8.136B
YoY Change -5.99% -3.97% -21.22%
Total Long-Term Liabilities $31.17B $26.51B $28.68B
YoY Change 17.58% -7.54% 7.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $19.20B $18.40B $17.87B
Total Long-Term Liabilities $31.17B $26.51B $28.68B
Total Liabilities $50.38B $44.91B $46.54B
YoY Change 12.17% -3.51% 3.59%
SHAREHOLDERS EQUITY
Retained Earnings $45.35B $46.02B $39.26B
YoY Change -1.46% 17.23% -1.82%
Common Stock $42.01B $42.21B $42.30B
YoY Change -0.48% -0.2% -0.33%
Preferred Stock
YoY Change
Treasury Stock (at cost) $38.53B $35.26B $29.59B
YoY Change 9.28% 19.16% 19.72%
Treasury Stock Shares 796.0M shares 739.0M shares 649.6M shares
Shareholders Equity $44.68B $48.65B $49.77B
YoY Change
Total Liabilities & Shareholders Equity $101.7B $98.17B $105.6B
YoY Change 3.58% -7.08% -0.46%

Cashflow Statement

Concept 2015 Q4 2014 Q4 2013 Q4
OPERATING ACTIVITIES
Net Income $977.0M $7.316B $781.0M
YoY Change -86.65% 836.75% -13.99%
Depreciation, Depletion And Amortization $1.560B $1.573B $1.954B
YoY Change -0.83% -19.5% 17.64%
Cash From Operating Activities $4.129B -$1.164B $3.026B
YoY Change -454.73% -138.47% 67.27%
INVESTING ACTIVITIES
Capital Expenditures -$493.0M -$490.0M -$429.0M
YoY Change 0.61% 14.22% -44.86%
Acquisitions
YoY Change
Other Investing Activities -$124.0M $7.694B $1.606B
YoY Change -101.61% 379.08% -144.36%
Cash From Investing Activities -$617.0M $7.204B $1.177B
YoY Change -108.56% 512.06% -126.76%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.289B -9.643B -2.624B
YoY Change -76.26% 267.49% 115.44%
NET CHANGE
Cash From Operating Activities 4.129B -1.164B 3.026B
Cash From Investing Activities -617.0M 7.204B 1.177B
Cash From Financing Activities -2.289B -9.643B -2.624B
Net Change In Cash 1.223B -3.603B 1.579B
YoY Change -133.94% -328.18% -141.48%
FREE CASH FLOW
Cash From Operating Activities $4.129B -$1.164B $3.026B
Capital Expenditures -$493.0M -$490.0M -$429.0M
Free Cash Flow $4.622B -$674.0M $3.455B
YoY Change -785.76% -119.51% 33.55%

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CY2015Q4 us-gaap Common Stock Par Or Stated Value Per Share
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CY2014Q4 us-gaap Debt And Capital Lease Obligations
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CY2014 us-gaap Deferred Income Tax Expense Benefit
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340000000 USD
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CY2015Q4 us-gaap Derivative Collateral Right To Reclaim Cash
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CY2015 us-gaap Derivative Higher Remaining Maturity Range1
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CY2015 us-gaap Effective Income Tax Rate Continuing Operations
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0.174
CY2013 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.35
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0.35
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0.35
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CY2014 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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CY2015 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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0.000
CY2014 us-gaap Effective Income Tax Rate Reconciliation Disposition Of Assets
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CY2015 us-gaap Effective Income Tax Rate Reconciliation Disposition Of Assets
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CY2013 us-gaap Effective Income Tax Rate Reconciliation Disposition Of Business
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0.000
CY2014 us-gaap Effective Income Tax Rate Reconciliation Disposition Of Business
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0.025
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0.000
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-0.234
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CY2015 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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0.005
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0.000
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0.017
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0.031
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0.012
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CY2013 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.008
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0.000
CY2015 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.029
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CY2014 us-gaap Effective Income Tax Rate Reconciliation Tax Settlements
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CY2015 us-gaap Effective Income Tax Rate Reconciliation Tax Settlements
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CY2013 us-gaap Employee Service Share Based Compensation Cash Received From Exercise Of Stock Options
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1210000000 USD
CY2014 us-gaap Employee Service Share Based Compensation Cash Received From Exercise Of Stock Options
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1560000000 USD
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485000000 USD
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P1Y10M24D
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86000000 USD
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70000000 USD
CY2014 us-gaap Employee Service Share Based Compensation Tax Benefit Realized From Exercise Of Stock Options
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202000000 USD
CY2015 us-gaap Employee Service Share Based Compensation Tax Benefit Realized From Exercise Of Stock Options
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109000000 USD
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237000000 USD
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185000000 USD
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50000000 USD
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741000000 USD
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CY2014Q4 us-gaap Equity Method Investments
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1800000000 USD
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50000000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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24398000000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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29189000000 USD
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4000000000 USD
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1000000000 USD
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1200000000 USD
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2000000000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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3500000000 USD
CY2013 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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CY2014 us-gaap Foreign Currency Transaction Gain Loss Realized
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0 USD
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CY2013 us-gaap Gain Loss Related To Litigation Settlement
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0 USD
CY2014 us-gaap Gain Loss Related To Litigation Settlement
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CY2015 us-gaap Gain Loss Related To Litigation Settlement
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5401000000 USD
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CY2013 us-gaap Income Loss From Equity Method Investments
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CY2013 us-gaap Income Tax Expense Benefit
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CY2015 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
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CY2014 us-gaap Income Tax Reconciliation Disposition Of Assets
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CY2013 us-gaap Income Tax Reconciliation Disposition Of Business
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CY2014 us-gaap Income Tax Reconciliation Disposition Of Business
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440000000 USD
CY2015 us-gaap Income Tax Reconciliation Disposition Of Business
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CY2013 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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1890000000 USD
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321000000 USD
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224000000 USD
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289000000 USD
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167000000 USD
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CY2014Q4 us-gaap Inventory Work In Process And Raw Materials
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2400000000 USD
CY2015Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
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2000000000 USD
CY2015Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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1300000000 USD
CY2015Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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3000000000 USD
CY2015Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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317000000 USD
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CY2014 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
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CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
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CY2013 us-gaap Operating Leases Rent Expense Net
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CY2014 us-gaap Operating Leases Rent Expense Net
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CY2015 us-gaap Operating Leases Rent Expense Net
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CY2013 us-gaap Other Comprehensive Income Loss Before Reclassifications Tax
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CY2013 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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2485000000 USD
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175000000 USD
CY2013 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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2077000000 USD
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CY2013 us-gaap Other Sales Revenue Net
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CY2013 us-gaap Payments For Proceeds From Hedge Investing Activities
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CY2013 us-gaap Payments For Proceeds From Other Investing Activities
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57000000 USD
CY2014 us-gaap Payments For Proceeds From Other Investing Activities
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80000000 USD
CY2015 us-gaap Payments For Proceeds From Other Investing Activities
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CY2013 us-gaap Payments For Repurchase Of Common Stock
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CY2014 us-gaap Payments For Repurchase Of Common Stock
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CY2015 us-gaap Payments For Repurchase Of Common Stock
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CY2013 us-gaap Payments Of Dividends Common Stock
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5157000000 USD
CY2014 us-gaap Payments Of Dividends Common Stock
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5170000000 USD
CY2015 us-gaap Payments Of Dividends Common Stock
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5117000000 USD
CY2013 us-gaap Payments Of Dividends Minority Interest
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120000000 USD
CY2014 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
77000000 USD
CY2015 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
0 USD
CY2013 us-gaap Payments To Acquire Business Three Net Of Cash Acquired
PaymentsToAcquireBusinessThreeNetOfCashAcquired
0 USD
CY2014 us-gaap Payments To Acquire Business Three Net Of Cash Acquired
PaymentsToAcquireBusinessThreeNetOfCashAcquired
3700000000 USD
CY2015 us-gaap Payments To Acquire Business Three Net Of Cash Acquired
PaymentsToAcquireBusinessThreeNetOfCashAcquired
0 USD
CY2013 us-gaap Payments To Acquire Business Two Net Of Cash Acquired
PaymentsToAcquireBusinessTwoNetOfCashAcquired
0 USD
CY2014 us-gaap Payments To Acquire Business Two Net Of Cash Acquired
PaymentsToAcquireBusinessTwoNetOfCashAcquired
0 USD
CY2015 us-gaap Payments To Acquire Business Two Net Of Cash Acquired
PaymentsToAcquireBusinessTwoNetOfCashAcquired
7598000000 USD
CY2013 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
246000000 USD
CY2014 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
181000000 USD
CY2015 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
146000000 USD
CY2013 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
0 USD
CY2014 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
1000000000 USD
CY2015 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
0 USD
CY2013 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
17991000000 USD
CY2014 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
24944000000 USD
CY2015 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
16681000000 USD
CY2013 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
1548000000 USD
CY2014 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
1317000000 USD
CY2015 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
1283000000 USD
CY1998 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.05
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2015Q1 us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
7900000000 USD
CY2013 us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
46000000 USD
CY2014 us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
1169000000 USD
CY2015 us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
316000000 USD
CY2015 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
715000000 USD
CY2014Q4 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
3100000000 USD
CY2013 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
6467000000 USD
CY2014 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
3146000000 USD
CY2015 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
7938000000 USD
CY2013 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
60000000 USD
CY2014 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
208000000 USD
CY2015 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
56000000 USD
CY2013 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
-159000000 USD
CY2014 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
-460000000 USD
CY2015 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
-1540000000 USD
CY2013 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
16298000000 USD
CY2014 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
15114000000 USD
CY2015 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
20413000000 USD
CY2013 us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
0 USD
CY2014 us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
419000000 USD
CY2015 us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
0 USD
CY2013 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1210000000 USD
CY2014 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1560000000 USD
CY2015 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
485000000 USD
CY2013 us-gaap Profit Loss
ProfitLoss
4517000000 USD
CY2014 us-gaap Profit Loss
ProfitLoss
11934000000 USD
CY2015 us-gaap Profit Loss
ProfitLoss
4459000000 USD
CY2014Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
31140000000 USD
CY2015Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
28430000000 USD
CY2013Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
14973000000 USD
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
13136000000 USD
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
12507000000 USD
CY2013 us-gaap Reclassification From Aoci Current Period Before Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodBeforeTaxAttributableToParent
-289000000 USD
CY2014 us-gaap Reclassification From Aoci Current Period Before Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodBeforeTaxAttributableToParent
41000000 USD
CY2015 us-gaap Reclassification From Aoci Current Period Before Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodBeforeTaxAttributableToParent
623000000 USD
CY2013 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-203000000 USD
CY2014 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
17000000 USD
CY2015 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
404000000 USD
CY2013 us-gaap Reclassification From Aoci Current Period Tax
ReclassificationFromAociCurrentPeriodTax
-86000000 USD
CY2014 us-gaap Reclassification From Aoci Current Period Tax
ReclassificationFromAociCurrentPeriodTax
24000000 USD
CY2015 us-gaap Reclassification From Aoci Current Period Tax
ReclassificationFromAociCurrentPeriodTax
219000000 USD
CY2014Q4 us-gaap Related Party Transaction Due From To Related Party
RelatedPartyTransactionDueFromToRelatedParty
45000000 USD
CY2015Q4 us-gaap Related Party Transaction Due From To Related Party
RelatedPartyTransactionDueFromToRelatedParty
34000000 USD
CY2014Q4 us-gaap Repayments Of Debt
RepaymentsOfDebt
2500000000 USD
CY2013 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1775000000 USD
CY2014 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
6617000000 USD
CY2015 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
2906000000 USD
CY2013 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
7503000000 USD
CY2014 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
7180000000 USD
CY2015 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6704000000 USD
CY2015Q4 us-gaap Restructuring And Related Cost Expected Cost1
RestructuringAndRelatedCostExpectedCost1
1500000000 USD
CY2013 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
2401000000 USD
CY2014 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
1978000000 USD
CY2015 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
1110000000 USD
CY2013 us-gaap Restructuring Charges
RestructuringCharges
1709000000 USD
CY2014 us-gaap Restructuring Charges
RestructuringCharges
1013000000 USD
CY2015 us-gaap Restructuring Charges
RestructuringCharges
619000000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
46021000000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
45348000000 USD
CY2013 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
44033000000 USD
CY2014 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
42237000000 USD
CY2015 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
39498000000 USD
CY2013 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
11911000000 USD
CY2014 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
11606000000 USD
CY2015 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
10313000000 USD
CY2013 us-gaap Share Based Compensation
ShareBasedCompensation
276000000 USD
CY2014 us-gaap Share Based Compensation
ShareBasedCompensation
278000000 USD
CY2015 us-gaap Share Based Compensation
ShareBasedCompensation
299000000 USD
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Requisite Service Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1
P3Y
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.042
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.043
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.041
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.250
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.220
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.199
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.012
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.020
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.017
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
134000000 shares
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
54990000 shares
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
39.12
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
374000000 USD
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
626000000 USD
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
332000000 USD
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
3253000 shares
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
5565000 shares
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
6.21
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
6.79
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
6.46
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
785000000 USD
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
76135000 shares
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
64668000 shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
39.05
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
41.64
CY2015 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
35.23
CY2015 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
39.10
CY2013 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
45.01
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
58.14
CY2015 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
59.73
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Award Vesting Rights Percentage
SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage
0.3333
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P7Y
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y4M24D
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y2M12D
CY2015Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
765000000 USD
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P2Y10M15D
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y8M15D
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
42000000 USD
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
35000000 USD
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
30000000 USD
CY2015 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
13779000 shares
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
48647000000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
44676000000 USD
CY2014Q4 us-gaap Stockholders Equity Before Treasury Stock
StockholdersEquityBeforeTreasuryStock
83909000000 USD
CY2015Q4 us-gaap Stockholders Equity Before Treasury Stock
StockholdersEquityBeforeTreasuryStock
83210000000 USD
CY2012Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
55463000000 USD
CY2013Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
52326000000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
48791000000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
44767000000 USD
CY2013 us-gaap Stockholders Equity Other
StockholdersEquityOther
1401000000 USD
CY2014 us-gaap Stockholders Equity Other
StockholdersEquityOther
1993000000 USD
CY2015 us-gaap Stockholders Equity Other
StockholdersEquityOther
733000000 USD
CY2014Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
738963326 shares
CY2015Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
795975449 shares
CY2014Q4 us-gaap Treasury Stock Value
TreasuryStockValue
35262000000 USD
CY2015Q4 us-gaap Treasury Stock Value
TreasuryStockValue
38534000000 USD
CY2013 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
6516000000 USD
CY2014 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
7703000000 USD
CY2015 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
4186000000 USD
CY2015Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
100000000 USD
CY2015Q4 us-gaap Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
59200000000 USD
CY2012Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
4425000000 USD
CY2013Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3503000000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3534000000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3448000000 USD
CY2013 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
747000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
156000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
59000000 USD
CY2013 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
603000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
161000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
184000000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
659000000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
766000000 USD
CY2013 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
-319000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
9000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
102000000 USD
CY2013 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
320000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
389000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
198000000 USD
CY2013 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
177000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
23000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
53000000 USD
CY2013 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
69000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
64000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
94000000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
3200000000 USD
CY2013 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
33000000 shares
CY2014 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
34000000 shares
CY2015 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
25000000 shares
CY2013 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2996000000 shares
CY2014 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2928000000 shares
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2841000000 shares
CY2013 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2963000000 shares
CY2014 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2894000000 shares
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2816000000 shares
CY2015 us-gaap Advertising Cost Policy Expensed Advertising Cost
AdvertisingCostPolicyExpensedAdvertisingCost
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:60px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Advertising and Promotion Costs &#8212;</font><font style="font-family:inherit;font-size:10pt;"> Advertising and promotion costs are expensed as incurred. </font></div></div>
CY2015 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:60px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Reclassifications&#160;&#8212;&#160;</font><font style="font-family:inherit;font-size:10pt;">Certain reclassifications have been made to prior year amounts to conform to the current year presentation.</font></div></div>
CY2015 us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:20px;padding-left:24px;text-indent:-24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Nature of Operations</font></div><div style="line-height:120%;padding-top:6px;text-align:justify;text-indent:60px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Merck&#160;&amp; Co., Inc. (Merck or the Company) is a global health care company that delivers innovative health solutions through its prescription medicines, vaccines, biologic therapies and animal health products, which it markets directly and through its joint ventures. The Company&#8217;s operations are principally managed on a products basis and are comprised of </font><font style="font-family:inherit;font-size:10pt;">four</font><font style="font-family:inherit;font-size:10pt;"> operating segments, the Pharmaceutical, Animal Health, Alliances and Healthcare Services segments. The Pharmaceutical segment is the only reportable segment. The Pharmaceutical segment includes human health pharmaceutical and vaccine products marketed either directly by the Company or through joint ventures. Human health pharmaceutical products consist of therapeutic and preventive agents, generally sold by prescription, for the treatment of human disorders. The Company sells these human health pharmaceutical products primarily to drug wholesalers and retailers, hospitals, government agencies and managed health care providers such as health maintenance organizations, pharmacy benefit managers and other institutions. Vaccine products consist of preventive pediatric, adolescent and adult vaccines, primarily administered at physician offices. The Company sells these human health vaccines primarily to physicians, wholesalers, physician distributors and government entities. The Company also has animal health operations that discover, develop, manufacture and market animal health products, including vaccines, which the Company sells to veterinarians, distributors and animal producers. Merck&#8217;s Alliances segment primarily includes results from the Company&#8217;s relationship with AstraZeneca LP until the termination of that relationship on June 30, 2014. The Company&#8217;s Healthcare Services segment provides services and solutions that focus on engagement, health analytics and clinical services to improve the value of care delivered to patients.</font></div><div style="line-height:120%;padding-top:6px;text-align:justify;text-indent:60px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On January&#160;21, 2015, the Company acquired Cubist Pharmaceuticals, Inc. (Cubist) and, on July 31, 2015, Merck acquired cCAM Biotherapeutics Ltd. (cCAM). The results of Cubist&#8217;s and cCAM&#8217;s businesses have been included in Merck&#8217;s financial statements subsequent to their respective acquisition dates (see Note 4). On October 1, 2014, the Company divested its Consumer Care segment that developed, manufactured and marketed over-the-counter, foot care and sun care products see (Note 4).</font></div></div>
CY2015 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:60px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates&#160;&#8212;&#160;</font><font style="font-family:inherit;font-size:10pt;">The consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States (GAAP) and, accordingly, include certain amounts that are based on management&#8217;s best estimates and judgments. Estimates are used when accounting for amounts recorded in connection with acquisitions, including initial fair value determinations of assets and liabilities, primarily IPR&amp;D, other intangible assets and contingent consideration, as well as subsequent fair value measurements. Additionally, estimates are used in determining such items as provisions for sales discounts and returns, depreciable and amortizable lives, recoverability of inventories, including those produced in preparation for product launches, amounts recorded for contingencies, environmental liabilities and other reserves, pension and other postretirement benefit plan assumptions, share-based compensation assumptions, restructuring costs, impairments of long-lived assets (including intangible assets and goodwill) and investments, and taxes on income. Because of the uncertainty inherent in such estimates, actual results may differ from these estimates.</font></div></div>

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