2018 Q1 Form 10-K Financial Statement

#000007800319000015 Filed on February 28, 2019

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q4 2016 Q4
Revenue $13.17B $13.05B
YoY Change 0.94% -7.13%
Cost Of Revenue $2.844B $3.085B
YoY Change -7.81% -8.51%
Gross Profit $10.32B $9.960B
YoY Change 3.65% -6.7%
Gross Profit Margin 78.4% 76.35%
Selling, General & Admin $3.504B $3.559B
YoY Change -1.55% -29.5%
% of Gross Profit 33.94% 35.73%
Research & Development $1.865B $1.881B
YoY Change -0.85% -19.89%
% of Gross Profit 18.06% 18.89%
Depreciation & Amortization $1.566B $1.396B
YoY Change 12.18% -1.97%
% of Gross Profit 15.17% 14.02%
Operating Expenses $5.369B $5.440B
YoY Change -1.31% -34.81%
Operating Profit $4.955B $4.520B
YoY Change 9.62% 93.99%
Interest Expense $320.0M $291.0M
YoY Change 9.97% -125.78%
% of Operating Profit 6.46% 6.44%
Other Income/Expense, Net -$79.00M -$1.417B
YoY Change -94.42%
Pretax Income $3.585B $1.604B
YoY Change 123.5% -551.83%
Income Tax $727.0M $249.0M
% Of Pretax Income 20.28% 15.52%
Net Earnings $2.840B $1.355B
YoY Change 109.59% -887.79%
Net Earnings / Revenue 21.57% 10.39%
Basic Earnings Per Share $0.48 $0.22
Diluted Earnings Per Share $0.47 $0.22
COMMON SHARES
Basic Shares Outstanding 5.953B shares 5.951B shares 6.066B shares
Diluted Shares Outstanding 6.041B shares 6.150B shares

Balance Sheet

Concept 2018 Q1 2017 Q4 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $16.70B $14.37B
YoY Change 16.23% -38.3%
Cash & Equivalents $1.342B $2.595B
Short-Term Investments $15.36B $12.28B
Other Short-Term Assets $2.289B $2.249B
YoY Change 1.78% 4.41%
Inventory $7.567B $7.578B $6.783B
Prepaid Expenses
Receivables $8.234B $8.221B $8.225B
Other Receivables $0.00 $0.00
Total Short-Term Assets $41.14B $38.95B
YoY Change 5.63% -11.08%
LONG-TERM ASSETS
Property, Plant & Equipment $13.87B $13.32B
YoY Change 4.11% -3.25%
Goodwill $55.95B $54.45B
YoY Change 2.76% 12.87%
Intangibles $48.74B $52.65B
YoY Change -7.42% 30.46%
Long-Term Investments $7.311B $270.0M
YoY Change 2607.78% -98.31%
Other Assets $3.023B $3.227B $3.323B
YoY Change -2.89% -2.84%
Total Long-Term Assets $130.7B $133.1B
YoY Change -1.8% 8.0%
TOTAL ASSETS
Total Short-Term Assets $41.14B $38.95B
Total Long-Term Assets $130.7B $133.1B
Total Assets $171.8B $172.0B
YoY Change -0.12% 2.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.656B $4.536B
YoY Change 2.65% 25.3%
Accrued Expenses $1.932B $2.048B
YoY Change -5.66% -13.18%
Deferred Revenue
YoY Change
Short-Term Debt $6.376B $0.00
YoY Change
Long-Term Debt Due $3.546B $4.225B
YoY Change -16.07% 13.61%
Total Short-Term Liabilities $30.43B $31.12B
YoY Change -2.21% 5.84%
LONG-TERM LIABILITIES
Long-Term Debt $33.54B $31.40B
YoY Change 6.82% 9.25%
Other Long-Term Liabilities $5.690B $6.149B $6.337B
YoY Change -2.97% 20.54%
Total Long-Term Liabilities $5.690B $39.69B $37.74B
YoY Change 5.17% 11.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $30.43B $31.12B
Total Long-Term Liabilities $5.690B $39.69B $37.74B
Total Liabilities $100.1B $111.8B
YoY Change -10.41% 9.17%
SHAREHOLDERS EQUITY
Retained Earnings $86.47B $85.29B $71.77B
YoY Change 18.83% -0.3%
Common Stock $464.0M $461.0M
YoY Change 0.65% 0.44%
Preferred Stock
YoY Change
Treasury Stock (at cost) $89.43B $84.36B
YoY Change 6.0% 6.45%
Treasury Stock Shares 3.296B shares 3.160B shares
Shareholders Equity $71.31B $59.54B
YoY Change
Total Liabilities & Shareholders Equity $171.8B $171.6B
YoY Change 0.11% 2.53%

Cashflow Statement

Concept 2018 Q1 2017 Q4 2016 Q4
OPERATING ACTIVITIES
Net Income $2.840B $1.355B
YoY Change 109.59% -887.79%
Depreciation, Depletion And Amortization $1.566B $1.396B
YoY Change 12.18% -1.97%
Cash From Operating Activities $4.890B $4.737B
YoY Change 3.23% -3.29%
INVESTING ACTIVITIES
Capital Expenditures -$597.0M -$432.0M
YoY Change 38.19% -34.74%
Acquisitions
YoY Change
Other Investing Activities -$2.414B -$3.949B
YoY Change -38.87% 152.82%
Cash From Investing Activities -$3.011B -$4.381B
YoY Change -31.27% 96.99%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.711B -1.662B
YoY Change 2.95% 28.44%
NET CHANGE
Cash From Operating Activities 4.890B 4.737B
Cash From Investing Activities -3.011B -4.381B
Cash From Financing Activities -1.711B -1.662B
Net Change In Cash 168.0M -1.306B
YoY Change -112.86% -194.64%
FREE CASH FLOW
Cash From Operating Activities $4.890B $4.737B
Capital Expenditures -$597.0M -$432.0M
Free Cash Flow $5.487B $5.169B
YoY Change 6.15% -7.03%

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CY2018 us-gaap Income Tax Reconciliation Tax Settlements Domestic
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46000000 USD
CY2018 us-gaap Increase Decrease In Accounts Payable Trade
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CY2018 us-gaap Increase Decrease In Accrued Taxes Payable
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47000000 USD
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16000000 USD
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CY2018 us-gaap Increase Decrease In Other Operating Liabilities
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98000000 USD
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61000000 USD
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72000000 USD
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73000000 USD
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InterestExpense
1186000000 USD
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InterestExpense
1270000000 USD
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1316000000 USD
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1451000000 USD
CY2017 us-gaap Interest Paid Net
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1518000000 USD
CY2018 us-gaap Interest Paid Net
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1311000000 USD
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CY2018Q4 us-gaap Inventory Noncurrent
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470000000 USD
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1890000000 USD
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3700000000 USD
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10000000 USD
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9000000 USD
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2 Operating_Segment
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300000000 USD
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248000000 USD
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210000000 USD
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252000000 USD
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2040000000 USD
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314000000 USD
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301000000 USD
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2000000 USD
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CY2018 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
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14000000 USD
CY2018 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
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CY2017 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
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CY2018 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
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CY2017 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
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CY2018 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
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130000000 USD
CY2017 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
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574000000 USD
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OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
34000000 USD
CY2017 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
42000000 USD
CY2018 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
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10000000 USD
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CY2018 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Before Tax
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247000000 USD
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83000000 USD
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CY2018 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Tax
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50000000 USD
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CY2017 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification And Tax
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-10000000 USD
CY2018 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification And Tax
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220000000 USD
CY2016 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification Tax
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CY2017 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification Tax
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72000000 USD
CY2018 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification Tax
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21000000 USD
CY2016 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Before Tax
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CY2017 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Before Tax
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520000000 USD
CY2018 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Before Tax
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CY2016 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Tax
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CY2017 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Tax
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224000000 USD
CY2018 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Tax
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-27000000 USD
CY2016 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
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CY2017 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
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1278000000 USD
CY2018 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
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0 USD
CY2017 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Before Tax
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CY2018 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Before Tax
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22000000 USD
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OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
-15000000 USD
CY2017 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
-215000000 USD
CY2018 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
94000000 USD
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CY2017 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1730000000 USD
CY2018 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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-1514000000 USD
CY2017 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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1715000000 USD
CY2016 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Benefit Plan Improvement Tax Effect
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansBenefitPlanImprovementTaxEffect
7000000 USD
CY2017 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Benefit Plan Improvement Tax Effect
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansBenefitPlanImprovementTaxEffect
74000000 USD
CY2018 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Benefit Plan Improvement Tax Effect
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansBenefitPlanImprovementTaxEffect
185000000 USD
CY2016 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Net Unamortized Gain Loss Arising During Period Before Tax
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CY2017 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Net Unamortized Gain Loss Arising During Period Before Tax
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-212000000 USD
CY2018 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Net Unamortized Gain Loss Arising During Period Before Tax
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-649000000 USD
CY2016 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
118000000 USD
CY2017 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
244000000 USD
CY2018 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
-124000000 USD
CY2016 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
15000000 USD
CY2017 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
60000000 USD
CY2018 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
-16000000 USD
CY2016 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
-558000000 USD
CY2017 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
-588000000 USD
CY2018 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
-242000000 USD
CY2016 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
-186000000 USD
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248000000 USD
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5850000000 USD
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1268000000 USD
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320000000 USD
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4218000000 USD
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3917000000 USD
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5000000000 USD
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5000000000 USD
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12198000000 USD
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7317000000 USD
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7659000000 USD
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18368000000 USD
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1000000000 USD
CY2018 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
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PaymentsToAcquireIntangibleAssets
176000000 USD
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PaymentsToAcquireIntangibleAssets
261000000 USD
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154000000 USD
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8011000000 USD
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3537000000 USD
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1797000000 USD
CY2016 us-gaap Payments To Acquire Property Plant And Equipment
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1823000000 USD
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1956000000 USD
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2042000000 USD
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15957000000 USD
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1000000 USD
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1000000 USD
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27000000 shares
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27000000 shares
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CY2018Q4 us-gaap Preferred Stock Shares Issued
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5274000000 USD
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3579000000 USD
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10302000000 USD
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10200000000 USD
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331000000 USD
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625000000 USD
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379000 shares
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
219000 shares
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1372000 shares
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3.89
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4.01
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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5.06
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1657000000 USD
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150757000 shares
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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27.27
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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27.69
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1619000000 USD
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100078000 shares
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
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27.47
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
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1655000000 USD
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
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103621000 shares
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
27.68
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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26.59
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24.69
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33.96
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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35.74
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y5M
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P4Y2M
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P4Y5M
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1563000000 USD
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1536000000 USD
CY2018 us-gaap Stock Issued During Period Value Share Based Compensation
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1993000000 USD
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11000000000 USD
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5000000000 USD
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14200000000 USD
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154000000 shares
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150000000 shares
CY2018 us-gaap Treasury Stock Shares Acquired
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5000000000 USD
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5000000000 USD
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5000000000 USD
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5000000000 USD
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12200000000 USD
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31000000000 USD
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5919000000 USD
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6558000000 USD
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409000000 USD
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28000000 USD
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561000000 USD
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126000000 USD
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35000000 USD
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123000000 USD
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83000000 USD
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-10000000 USD
CY2018 us-gaap Unrecognized Tax Benefits Increases Resulting From Acquisition
UnrecognizedTaxBenefitsIncreasesResultingFromAcquisition
0 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
489000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
753000000 USD
CY2018 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
370000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
11000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
49000000 USD
CY2018 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
192000000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
975000000 USD
CY2018Q4 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
1100000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
72000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
208000000 USD
CY2018 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
103000000 USD
CY2016 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
70000000 shares
CY2017 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
89000000 shares
CY2018 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
105000000 shares
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6159000000 shares
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6058000000 shares
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5977000000 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6089000000 shares
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5970000000 shares
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5872000000 shares
CY2018 us-gaap Derivatives Reporting Of Derivative Activity
DerivativesReportingOfDerivativeActivity
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:4px;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">Cash flows associated with financial instruments designated as fair value or cash flow hedges may be included in operating, investing or financing activities, depending on the classification of the items being hedged. Cash flows associated with financial instruments designated as net investment hedges are classified according to the nature of the hedge instrument. Cash flows associated with financial instruments that do not qualify for hedge accounting treatment are classified according to their purpose and accounting nature.</font></div></div>
CY2018 us-gaap Property Plant And Equipment Impairment
PropertyPlantAndEquipmentImpairment
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">We review all of our long-lived assets for impairment indicators throughout the year. We perform impairment testing for indefinite-lived intangible assets and goodwill at least annually and for all other long-lived assets whenever impairment indicators are present. When necessary, we record charges for impairments of long-lived assets for the amount by which the fair value is less than the carrying value of these assets.</font></div></div>
CY2018 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:10px;text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;font-weight:bold;text-decoration:underline;">Estimates and Assumptions</font></div><div style="line-height:120%;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">In preparing the consolidated financial statements, we use certain estimates and assumptions that affect reported amounts and disclosures, including amounts recorded and disclosed in connection with acquisitions. These estimates and underlying assumptions can impact all elements of our financial statements. For example, in the consolidated statements of income, estimates are used when accounting for deductions from revenues (such as rebates, chargebacks, sales allowances and sales returns), determining the cost of inventory that is sold, allocating cost in the form of depreciation and amortization, and estimating restructuring charges and the impact of contingencies, as well as determining provisions for taxes on income. On the consolidated balance sheets, estimates are used in determining the valuation and recoverability of assets, such as accounts receivable, investments, inventories, deferred tax assets, fixed assets and intangible assets (including acquired IPR&amp;D assets), and estimates are used in determining the reported amounts of liabilities, such as taxes payable, benefit obligations, accruals for contingencies, rebates, chargebacks, sales allowances and sales returns, and restructuring reserves, all of which also impact the consolidated statements of income.</font></div><div style="line-height:120%;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">Our estimates are often based on complex judgments and assumptions that we believe to be reasonable, but that can be inherently uncertain and unpredictable. If our estimates and assumptions are not representative of actual outcomes, our results could be materially impacted.</font></div><div style="line-height:120%;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">As future events and their effects cannot be determined with precision, our estimates and assumptions may prove to be incomplete or inaccurate, or unanticipated events and circumstances may occur that might cause us to change those estimates and assumptions. We are subject to risks and uncertainties that may cause actual results to differ from estimated amounts, such as changes in the healthcare environment, competition, litigation, legislation and regulations. We regularly evaluate our estimates and assumptions using historical experience and expectations about the future. We adjust our estimates and assumptions when facts and circumstances indicate the need for change.</font></div><div style="line-height:120%;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br clear="none"/></font></div></div>

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