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Other (Income)/Deductions - Net - Schedule of Other (Income)/Deductions - Net (Detail) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Oct. 03, 2021
Sep. 27, 2020
Oct. 03, 2021
Sep. 27, 2020
Other Income and Expenses [Abstract]        
Interest income $ (10) $ (15) $ (21) $ (68)
Interest expense 325 345 975 1,102
Net interest expense 315 330 954 1,034
Royalty-related income (261) (214) (649) (524)
Net (gains)/losses on asset disposals (1) (2) (99) 0
Net (gains)/losses recognized during the period on equity securities [1],[2] (400) 70 (1,601) (408)
Income from collaborations, out-licensing arrangements and sales of compound/product rights [3] (65) (30) (317) (245)
Net periodic benefit costs/(credits) other than service costs [4] (1,132) 1,043 (1,635) 749
Certain legal matters, net [5] 38 (17) 458 5
Certain asset impairments [6] 0 900 0 900
Consumer Healthcare JV equity method (income)/loss [7] (105) (103) (307) (196)
Other, net (84) (99) (501) (202)
Other (income)/deductions––net $ (1,696) $ 1,878 $ (3,697) $ 1,114
[1] Reported in Other (income)/deductions––net. See Note 4.
[2] The gains in the third quarter and first nine months of 2021 include, among other things, unrealized gains of $420 million and $1.5 billion, respectively, related to investments in BioNTech and Cerevel Therapeutics, LLC. The losses in the third quarter of 2020 included, among other things, unrealized losses of $131 million related to our investment in Allogene. The gains in the first nine months of 2020 included, among other things, unrealized gains of $397 million related to our investments in Allogene and BioNTech.
[3] The first nine months of 2021 includes, among other things, $188 million of net collaboration income from BioNTech in the first quarter of 2021 related to the COVID-19 vaccine. The first nine months of 2020 mainly included, among other things, (i) an upfront payment to us of $75 million from our sale of our CK1 assets to Biogen, Inc., (ii) $40 million of milestone income from Puma Biotechnology, Inc. related to Neratinib regulatory approvals in the EU and (iii) $30 million of milestone income from Lilly related to the first commercial sale in the U.S. of LOXO-292 for the treatment of RET fusion-positive NSCLC.
[4] Amounts include the impact of a change in accounting principle. See Notes 1C and 10.
[5] The first nine months of 2021 primarily includes an amount to resolve a Multi-District Litigation relating to EpiPen pending against the Company in the U.S. District Court for the District of Kansas for $345 million, which remains subject to court approval. See Note 12A5.
[6] The third quarter and first nine months of 2020 included intangible asset impairment charges of $900 million related to IPR&D assets for unapproved indications of certain cancer medicines, acquired in our Array acquisition, and reflected, among other things, updated commercial forecasts.
[7] See Note 2B