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Selected Quarterly Data (unaudited) (Tables)
 12 Months Ended
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Quarterly Financial Information
2019
 
Fourth
 
Third
 
Second
 
First
Revenue
 
$
6,114.0

 
$
5,476.6

 
$
5,636.7

 
$
5,092.2

Cost of sales
 
1,282.6

 
1,175.0

 
1,124.9

 
1,138.7

Operating expenses(1)
 
3,279.5

 
2,793.2

 
2,988.5

 
2,747.6

Acquired IPR&D
 
—

 
77.7

 
25.0

 
136.9

Asset impairment, restructuring, and other special charges(2)
 
151.7

 
—

 
—

 
423.9

Income before income taxes
 
1,663.1

 
1,405.8

 
1,465.9

 
731.1

Income taxes
 
167.4

 
151.9

 
138.7

 
170.0

Net income from continuing operations
 
1,495.7

 
1,253.9

 
1,327.2

 
561.1

Net Income from discontinued operations
 
—

 
—

 
—

 
3,680.5

Net income
 
1,495.7

 
1,253.9

 
1,327.2

 
4,241.6

EPS from continuing operations - basic
 
1.64

 
1.37

 
1.44

 
0.57

EPS from discontinued operations - basic
 
—

 
—

 
—

 
3.76

EPS—basic
 
1.64

 
1.37

 
1.44

 
4.33

EPS from continuing operations - diluted
 
1.64

 
1.37

 
1.44

 
0.57

EPS from discontinued operations - diluted
 
—

 
—

 
—

 
3.74

EPS—diluted
 
1.64

 
1.37

 
1.44

 
4.31

Dividends paid per share
 
0.6450

 
0.6450

 
0.6450

 
0.6450

 
 
 
 
 
 
 
 
 
2018
 
Fourth
 
Third
 
Second
 
First
Revenue
 
$
5,637.6

 
$
5,306.9

 
$
5,585.0

 
$
4,963.8

Cost of sales
 
1,129.9

 
1,152.9

 
1,234.3

 
1,164.6

Operating expenses(1)
 
3,085.5

 
2,738.1

 
2,756.6

 
2,446.2

Acquired IPR&D(3)
 
329.4

 
30.0

 
1,624.5

 
—

Asset impairment, restructuring, and other special charges
 
192.7

 
42.9

 
(25.5
)
 
56.8

Income before income taxes
 
931.6

 
1,341.1

 
41.7

 
1,365.7

Income taxes(4)
 
(189.8
)
 
247.5

 
273.3

 
198.5

Net income (loss) from continuing operations
 
1,121.4

 
1,093.6

 
(231.6
)
 
1,167.2

Net Income (loss) from discontinued operations
 
3.7

 
55.9

 
(28.3
)
 
50.2

Net income (loss)
 
1,125.1

 
1,149.5

 
(259.9
)
 
1,217.4

Earnings (loss) per share from continuing operations - basic
 
1.11

 
1.07

 
(0.22
)
 
1.11

Earnings (loss) per share from discontinued operations - basic
 
—

 
0.06

 
(0.03
)
 
0.05

Earnings (loss) per share—basic
 
1.11

 
1.13

 
(0.25
)
 
1.16

Earnings (loss) per share from continuing operations - diluted
 
1.10

 
1.07

 
(0.22
)
 
1.11

Earnings (loss) per share from discontinued operations - diluted
 
—

 
0.05

 
(0.03
)
 
0.05

Earnings (loss) per share—diluted
 
1.10

 
1.12

 
(0.25
)
 
1.16

Dividends paid per share
 
0.5625

 
0.5625

 
0.5625

 
0.5625


(1) Includes research and development and marketing, selling, and administrative expenses.
(2) Asset impairment, restructuring, and other special charges in the first quarter of 2019 were primarily associated with the accelerated vesting of Loxo employee equity awards as a result of the closing of the acquisition of Loxo. See Note 5 for further discussion.
(3) Acquired IPR&D charges in the second quarter of 2018 were primarily due to the ARMO acquisition. See Note 3 for further discussion.
(4) Income taxes in the fourth quarter of 2018 were a tax benefit primarily due to adjustments associated with U.S. tax reform. See Note 14 for further discussion.