Segment and Geographic Area Information (Tables)

12 Months Ended

Dec. 31, 2020

Segment and Geographic Area Information

Schedule of segment information - net sales and operating earnings

	Net Sales to External Customers (a)						Operating Earnings (a)
(in millions)	2020		2019		2018		2020		2019		2018
Established Pharmaceutical Products	$	4,303	$	4,486	$	4,422	$	794	$	904	$	894
Nutritional Products		7,647		7,409		7,229		1,751		1,705		1,652
Diagnostic Products		10,805		7,713		7,495		3,725		1,912		1,868
Medical Devices		11,787		12,239		11,370		3,038		3,769		3,500
Total Reportable Segments		34,542		31,847		30,516	$	9,308	$	8,290	$	7,914
Other		66		57		62
Total	$	34,608	$	31,904	$	30,578

(a) Net sales and operating earnings were unfavorably affected by the impact of foreign exchange in 2020, 2019 and 2018.

Schedule of reconciliation of operating earnings to earnings from continuing operations

(in millions)	2020		2019		2018
Total Reportable Segment Operating Earnings	$	9,308	$	8,290	$	7,914
Corporate functions and benefit plan costs		(518)		(468)		(618)
Net interest expense		(500)		(576)		(721)
Loss on extinguishment of debt		—		(63)		(167)
Share-based compensation		(546)		(519)		(477)
Amortization of intangible assets		(2,132)		(1,936)		(2,178)
Other, net (b)		(644)		(651)		(880)
Earnings from Continuing Operations Before Taxes	$	4,968	$	4,077	$	2,873

(b) Other, net includes integration costs associated with the acquisition of St. Jude Medical and Alere and restructuring charges in 2020, 2019 and 2018.  Other, net in 2020 also includes costs related to asset impairments, partially offset by income from the settlement of litigation. Other, net in 2018 also includes inventory step-up amortization associated with the acquisition of Alere. Charges for restructuring actions and other cost reduction initiatives were approximately $125 million in 2020, $215 million in 2019 and $153 million in 2018.

Schedule of depreciation, additions to property and equipment and total assets by segment

							Additions to
	Depreciation						Property and Equipment						Total Assets
(in millions)	2020		2019		2018		2020		2019		2018		2020		2019		2018
Established Pharmaceuticals	$	88	$	98	$	92	$	109	$	109	$	131	$	2,888	$	2,858	$	2,664
Nutritionals		143		139		150		201		141		86		3,478		3,274		3,071
Diagnostics		488		403		397		1,263		726		609		7,696		5,235		4,464
Medical Devices		281		266		294		402		532		408		6,893		6,640		5,886
Total Reportable Segments		1,000		906		933		1,975		1,508		1,234	$	20,955	$	18,007	$	16,085
Other		195		172		167		218		160		160
Total	$	1,195	$	1,078	$	1,100	$	2,193	$	1,668	$	1,394

Schedule of reconciliation of segment assets to total assets

(in millions)	2020		2019		2018
Total Reportable Segment Assets	$	20,955	$	18,007	$	16,085
Cash and investments		7,969		5,023		4,983
Goodwill and intangible assets		38,528		40,220		42,196
All other		5,096		4,637		3,909
Total Assets	$	72,548	$	67,887	$	67,173

Schedule of net sales to external customers by geographic areas

	Net Sales to External
	Customers (c)
(in millions)	2020		2019		2018
United States	$	13,022	$	11,398	$	10,839
Germany		2,108		1,751		1,619
China		1,965		2,346		2,311
Japan		1,386		1,435		1,326
India		1,323		1,397		1,333
Switzerland		1,140		1,068		1,005
The Netherlands		1,084		975		930
All Other Countries		12,580		11,534		11,215
Consolidated	$	34,608	$	31,904	$	30,578

(c)Sales by country are based on the country that sold the product.