XML 44 R40.htm IDEA: XBRL DOCUMENT v2.4.0.6
Other Deductions - Net (Detail) (USD $)
In Millions, unless otherwise specified
3 Months Ended
Apr. 01, 2012
Apr. 03, 2011
Other (Income) Deductions - Net [Line Items]    
Interest income $ (81) [1] $ (105) [1]
Interest expense 390 [1] 458 [1]
Net interest expense 309 353
Royalty-related income (97) (171)
Net gains on asset disposals (7) (12)
Certain legal matters, net 814 [2] 501 [2]
Certain asset impairment charges 432 [3] 157 [3]
Other, net 206 (1)
Other deductions-net $ 1,657 $ 827
[1] Interest income decreased in 2012 due to lower interest rates earned on investments. Interest expense decreased in 2012 due to lower long- and short-term debt balances and the effective conversion of some fixed-rate liabilities to floating-rate liabilities by using interest rate swaps.
[2] In 2012, primarily relates to a $450 million charge in connection with an agreement-in-principle to settle a lawsuit by Brigham Young University related to Celebrex and charges for hormone-replacement therapy litigation. In 2011, primarily relates to charges for hormone-replacement therapy litigation (see Note 12. Commitments and Contingencies).
[3] In 2012, primarily includes intangible asset impairments of approximately $395 million reflecting (i) $297 million of in-process research and development (IPR&D) that targeted autoimmune and inflammatory diseases, (ii) $45 million related to our Consumer Healthcare indefinite-lived brand, Robitussin, and (iii) $53 million of developed technology rights comprising the impairments of two assets. See also the table below. In 2011, relates to IPR&D for the treatment of a certain autoimmune and inflammatory disease. The impairment charges reflect, among other things, the impact of new scientific findings for IPR&D, and an increased competitive environment for Robitussin.