XML 102 R68.htm IDEA: XBRL DOCUMENT v2.4.0.8
Other Income, Net (Schedule of Other Income) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Other Income and Expenses [Line Items]      
Cozaar/Hyzaar income $ 14 $ 54 $ 282
Royalty income 187 177 189
Interest income 136 109 110
Equity in earnings of affiliates, excluding exchange gains/losses 37 [1] 99 [1] 191 [1]
Gain on sale of equity method investment 9 122 0
Net gains on sales of assets 25 130 89
Net exchange losses (128) [1] (215) [1] (146) [1]
Miscellaneous income and expenses, net 130 [2] 22 [2] 27 [2]
Total 410 498 742
Exchange gains (losses) related to earnings of affiliates 4 3 1
Foreign currency loss due to devaluation [Member]
     
Other Income and Expenses [Line Items]      
Net exchange losses $ (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 and losses are recorded in other income, net and the related tax impact is recorded in provision for income taxes on continuing operations on the Consolidated Income Statements. Exchange gains (losses) related to earnings of affiliates was $4, $3 and $1 for 2013, 2012 and 2011, respectively. The $(128) net exchange loss for the year ended December 31, 2013, includes a $(33) exchange loss, associated with the devaluation of the Venezuelan bolivar.
[2] Miscellaneous income and expenses, net, generally includes interest items, certain insurance recoveries and litigation settlements, and other items.