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Condensed Consolidated Statement of Earnings (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Net Sales $ 9,807,100 $ 9,616,291 $ 19,263,733 $ 18,657,141
Cost of products sold 3,637,305 3,870,472 7,362,226 7,729,455
Research and development 1,010,882 1,037,780 2,016,564 1,968,180
Acquired in-process and collaborations research and development 110,000 172,500 260,000 272,500
Selling, general and administrative 2,944,492 2,762,086 5,944,800 5,612,404
Total Operating Cost and Expenses 7,702,679 7,842,838 15,583,590 15,582,539
Operating Earnings 2,104,421 1,773,453 3,680,143 3,074,602
Interest expense 127,191 134,129 254,057 279,716
Interest (income) (20,461) (18,868) (37,898) (40,584)
Net foreign exchange loss (gain) (14,154) (10,796) 10,608 (43,162)
Other (income) expense, net 8,528 (5,568) (62,970) 135,290
Earnings Before Taxes 2,003,317 1,674,556 3,516,346 2,743,342
Taxes on Earnings 278,705 (268,226) 549,610 (63,258)
Net Earnings $ 1,724,612 $ 1,942,782 $ 2,966,736 $ 2,806,600
Basic Earnings Per Common Share (in dollars per share) $ 1.09 $ 1.24 $ 1.87 $ 1.8
Diluted Earnings Per Common Share (in dollars per share) $ 1.08 $ 1.23 $ 1.85 $ 1.79
Cash Dividends Declared Per Common Share (in dollars per share) $ 0.51 $ 0.48 $ 1.02 $ 0.96
Average Number of Common Shares Outstanding Used for Basic Earnings Per Common Share (in shares) 1,572,099 1,556,869 1,572,681 1,554,097
Dilutive Common Stock Options and Awards (in shares) 16,403 9,234 15,996 8,060
Average Number of Common Shares Outstanding Plus Dilutive Common Stock Options and Awards (in shares) 1,588,502 1,566,103 1,588,677 1,562,157
Outstanding Common Stock Options Having No Dilutive Effect (in shares) 1,166 60,653 1,166 60,653