XML 43 R40.htm IDEA: XBRL DOCUMENT v2.4.0.8
Other Income, Net (Schedule of Other Income) (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Component of Other Income, Nonoperating [Line Items]        
Net exchange gains (losses) $ 35 $ 50 $ 46 $ (31)
Total 159 291 251 305
Other Income [Member]
       
Component of Other Income, Nonoperating [Line Items]        
Cozaar/Hyzaar income 12 14 14 39
Royalty income 50 22 87 62
Interest income 45 37 72 60
Equity in (loss) earnings affiliates, excluding exchange gains / losses (7) 21 (14) 31
Gain on sale of equity method investment 9 122 9 122
Net gain on sales of other assets 5 5 10 10
Net exchange gains (losses) 35 [1] 50 [1] 46 [1] (31) [1]
Miscellaneous income and expenses, net 10 [2] 20 [2] 27 [2] 12 [2]
Total 159 291 251 305
ForeignCurrencyLossDuetoDevaluation [Member]
       
Component of Other Income, Nonoperating [Line Items]        
Net exchange gains (losses) $ 3   $ (33)  
[1] The company routinely uses foreign currency exchange contracts to offset its net exposures, by currency, related to the foreign currency-denominated monetary assets and liabilities. The objective of this program is to maintain an approximately balanced position in foreign currencies in order to minimize, on an after-tax basis, the effects of exchange rate changes on net monetary asset positions. The net pre-tax exchange gains (losses) are recorded in other income, net and the related tax impact is recorded in provision for income taxes on continuing operations on the interim Consolidated Income Statements. The $35 and $46 net exchange gain for the three and six months ended June 30, 2013, includes a $3 exchange gain and a $(33) exchange (loss), respectively, associated with the devaluation of the Venezuelan bolivar.
[2] Miscellaneous income and expenses, net, generally includes interest items, insurance recoveries, litigation settlements and other items.