REVENUE RECOGNITION Revenue Recognition (Notes)

3 Months Ended

Mar. 31, 2019

Revenue Recognition [Abstract]

Revenue from Contract with Customer [Text Block]

REVENUE

The following table summarizes the disaggregation of revenue by nature:

	Three Months Ended March 31,
Dollars in Millions	2019		2018
Net product sales	$	5,713	$	4,972
Alliance revenues	129		152
Other revenues	78		69
Total Revenues	$	5,920	$	5,193

The following table summarizes GTN adjustments:

	Three Months Ended March 31,
Dollars in Millions	2019			2018
Gross product sales	$	7,994		$	6,701
GTN adjustments(a)
Charge-backs and cash discounts	(774		)	(583		)
Medicaid and Medicare rebates	(800		)	(557		)
Other rebates, returns, discounts and adjustments	(707		)	(589		)
Total GTN adjustments	(2,281		)	(1,729		)
Net product sales	$	5,713		$	4,972

(a) Includes adjustments to provisions for product sales made in prior periods resulting from changes in estimates of $78 million and $50 million in the three months ended March 31, 2019 and 2018, respectively.

The following table summarizes the disaggregation of revenue by product and region:

	Three Months Ended March 31,
Dollars in Millions	2019		2018
Prioritized Brands
Opdivo	$	1,801	$	1,511
Eliquis	1,925		1,506
Orencia	640		593
Sprycel	459		438
Yervoy	384		249
Empliciti	83		55
Established Brands
Baraclude	141		225
Other Brands	487		616
Total Revenues	$	5,920	$	5,193
United States	$	3,449	$	2,778
Europe	1,480		1,406
Rest of the World	874		873
Other(a)	117		136
Total Revenues	$	5,920	$	5,193

(a) Other revenues include royalties and alliance-related revenues for products not sold by the Company's regional commercial organizations.

The following table summarizes contract assets as of March 31, 2019 and December 31, 2018:

Dollars in Millions	March 31, 2019		December 31, 2018
Prepaid expenses and other	$	51	$	35
Other assets	16		19
Total contract assets	$	67	$	54

Revenue recognized from performance obligations satisfied in prior periods was $147 million and $150 million for the three months ended March 31, 2019 and 2018, respectively, consisting primarily of royalties for out-licensing arrangements and revised estimates for gross-to-net adjustments related to prior period sales.