XML 52 R41.htm IDEA: XBRL DOCUMENT v3.21.1
Hedging Activities and Fair Value Measurements (Details)
€ in Millions, $ in Millions
3 Months Ended
Mar. 31, 2021
USD ($)
units
Mar. 31, 2020
USD ($)
Mar. 31, 2021
EUR (€)
units
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Derivative Instruments, Gain (Loss) [Line Items]          
AOCI, Cash Flow Hedge, Cumulative Gain (Loss), after Tax $ 165 $ 248   $ 36 $ 173
Derivative, Notional Amount 11,969     11,349  
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax 133 92      
Cost of Goods and Services Sold 894 806      
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax 4 17      
Interest Expense 82 88      
Other Operating Income (Expense), Net (37) 36      
Net currency exchange gain (loss) (2) (7)      
Derivative Asset, Fair Value, Gross Asset 399     242  
Derivative Liability, Fair Value, Gross Liability 1,151     1,262  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Equity Securities, FV-NI 213     414  
Derivative Asset 209     109  
Licensing arrangements, asset 191     218  
Business Combination, Contingent Consideration, Liability 398     196  
Licensing arrangements, liability 208     253  
Cash 257     150  
Non-cash impact of transferred royalty rights (22) (23)      
Debt Instrument, Fair Value Disclosure 10,225     10,774  
December 2027 Notes [Member]          
Derivative Instruments, Gain (Loss) [Line Items]          
Long-term Debt $ 1,055   € 900 1,105  
Debt Instrument, Interest Rate, Stated Percentage 0.625%   0.625%    
Licensing arrangement assets [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Discount Rate, Fair Value Input 15.00%   15.00%    
Proceeds from Royalties Received $ (22)        
Non-cash impact of transferred royalty rights (22)        
Increase (Decrease) in Fair Value Adjustments on Other Assets (Liabilities) Carried at Fair Value under Fair Value Option 16        
Licensing arrangement liabilities [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Non-cash impact of transferred royalty rights (22)        
Payments for Royalties (42)        
Increase (Decrease) in Fair Value Adjustments on Other Assets (Liabilities) Carried at Fair Value under Fair Value Option 13        
Euro-denominated outstanding debt [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Debt Instrument, Fair Value Disclosure 1,067     1,118  
Fair Value, Inputs, Level 3 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Licensing arrangements, asset 338        
Licensing arrangements, liability 356        
Fair Value, Measurements, Recurring [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Money Market Funds, at Carrying Value 1,759     1,584  
Equity Securities, FV-NI 213     414  
Derivative Asset 399     242  
Licensing arrangements, asset 338     365  
Assets, Fair Value Disclosure 2,708     2,605  
Derivative Liability 1,151     1,262  
Business Combination, Contingent Consideration, Liability 398     196  
Licensing arrangements, liability 356     407  
Financial and Nonfinancial Liabilities, Fair Value Disclosure 1,906     1,865  
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Money Market Funds, at Carrying Value 1,759     1,584  
Equity Securities, FV-NI 213     414  
Derivative Asset 0     0  
Licensing arrangements, asset 0     0  
Assets, Fair Value Disclosure 1,971     1,998  
Derivative Liability 0     0  
Business Combination, Contingent Consideration, Liability 0     0  
Licensing arrangements, liability 0     0  
Financial and Nonfinancial Liabilities, Fair Value Disclosure 0     0  
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Money Market Funds, at Carrying Value 0     0  
Equity Securities, FV-NI 0     0  
Derivative Asset 399     242  
Licensing arrangements, asset 0     0  
Assets, Fair Value Disclosure 399     242  
Derivative Liability 1,151     1,262  
Business Combination, Contingent Consideration, Liability 0     0  
Licensing arrangements, liability 0     0  
Financial and Nonfinancial Liabilities, Fair Value Disclosure 1,151     1,262  
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Money Market Funds, at Carrying Value 0     0  
Equity Securities, FV-NI 0     0  
Derivative Asset 0     0  
Licensing arrangements, asset 338     365  
Assets, Fair Value Disclosure 338     365  
Derivative Liability 0     0  
Business Combination, Contingent Consideration, Liability 398     196  
Licensing arrangements, liability 356     407  
Financial and Nonfinancial Liabilities, Fair Value Disclosure 754     603  
Designated as Hedging Instrument [Member]          
Derivative Instruments, Gain (Loss) [Line Items]          
Derivative Instruments in Hedges, Assets, at Fair Value 332     162  
Derivative Instruments in Hedges, Liabilities, at Fair Value 1,094     1,191  
Designated as Hedging Instrument [Member] | Other Noncurrent Liabilities [Member]          
Derivative Instruments, Gain (Loss) [Line Items]          
Derivative Instruments in Hedges, Liabilities, at Fair Value $ 1,044     1,094  
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]          
Derivative Instruments, Gain (Loss) [Line Items]          
Forward Currency Contracts, Time to Maturity | units 60   60    
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Prepaid Expenses and Other Current Assets [Member]          
Derivative Instruments, Gain (Loss) [Line Items]          
Derivative Instruments in Hedges, Assets, at Fair Value $ 122     53  
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Other Noncurrent Assets [Member]          
Derivative Instruments, Gain (Loss) [Line Items]          
Derivative Instruments in Hedges, Assets, at Fair Value 209     109  
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Other Current Liabilities [Member]          
Derivative Instruments, Gain (Loss) [Line Items]          
Derivative Instruments in Hedges, Liabilities, at Fair Value 22     44  
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Other Noncurrent Liabilities [Member]          
Derivative Instruments, Gain (Loss) [Line Items]          
Derivative Instruments in Hedges, Liabilities, at Fair Value 28     54  
Not Designated as Hedging Instrument [Member] | Other Nonoperating Income (Expense) [Member]          
Derivative Instruments, Gain (Loss) [Line Items]          
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments (1) (15)      
Foreign Currency Transaction Gain (Loss), before Tax (1) 8      
Net currency exchange gain (loss) (2) (7)      
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]          
Derivative Instruments, Gain (Loss) [Line Items]          
Derivative, Notional Amount 5,296     4,946  
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Prepaid Expenses and Other Current Assets [Member]          
Derivative Instruments, Gain (Loss) [Line Items]          
Derivative Instruments Not Designated as Hedging Instruments, Asset, at Fair Value 67     79  
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Other Current Liabilities [Member]          
Derivative Instruments, Gain (Loss) [Line Items]          
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value $ 57     71  
Weighted Average [Member] | Licensing arrangement assets [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Discount Rate, Fair Value Input 15.00%   15.00%    
Weighted Average [Member] | Licensing arrangement liabilities [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Discount Rate, Fair Value Input 13.00%   13.00%    
Minimum [Member] | Licensing arrangement liabilities [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Discount Rate, Fair Value Input 12.00%   12.00%    
Maximum [Member] | Licensing arrangement liabilities [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Discount Rate, Fair Value Input 15.00%   15.00%    
Cash Flow Hedging [Member] | Foreign Exchange Contract [Member] | Cost of Sales [Member]          
Derivative Instruments, Gain (Loss) [Line Items]          
Foreign Currency Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months $ 79        
Cash Flow Hedging [Member] | Interest Rate Contract [Member] | Interest Expense [Member]          
Derivative Instruments, Gain (Loss) [Line Items]          
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net (5)        
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]          
Derivative Instruments, Gain (Loss) [Line Items]          
Derivative, Notional Amount 4,741     4,531  
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Cost of Sales [Member]          
Derivative Instruments, Gain (Loss) [Line Items]          
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax 171 119      
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax (39) (27)      
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax 133 92      
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax (6) (23)      
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax 1 5      
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax (5) (18)      
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Interest Rate Contract [Member]          
Derivative Instruments, Gain (Loss) [Line Items]          
AOCI, Cash Flow Hedge, Cumulative Gain (Loss), after Tax (28)     (29)  
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Interest Expense [Member]          
Derivative Instruments, Gain (Loss) [Line Items]          
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax 0 0      
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax 0 0      
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax 0 0      
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax 1 1      
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax 0 0      
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax 1 1      
Net Investment Hedging [Member] | Foreign Exchange Contract [Member] | Interest Expense [Member]          
Derivative Instruments, Gain (Loss) [Line Items]          
Derivative Used in Net Investment Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net 9        
Net Investment Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]          
Derivative Instruments, Gain (Loss) [Line Items]          
Derivative, Notional Amount 1,004     1,004  
Net Investment Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Interest Expense [Member]          
Derivative Instruments, Gain (Loss) [Line Items]          
Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), before Reclassification and Tax 52 22      
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), before Adjustments, Tax (12) (26)      
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), before Adjustments, after Tax 40 (4)      
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), Adjustments, before Tax (6) (6)      
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), Adjustments, Tax 1 1      
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), Adjustments, after Tax (5) (5)      
Net Investment Hedging [Member] | Designated as Hedging Instrument [Member] | foreign currency denominated in debt [Member]          
Derivative Instruments, Gain (Loss) [Line Items]          
Derivative, Notional Amount 927     $ 868  
Net Investment Hedging [Member] | Designated as Hedging Instrument [Member] | foreign currency denominated in debt [Member] | Interest Expense [Member]          
Derivative Instruments, Gain (Loss) [Line Items]          
Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), before Reclassification and Tax 48 24      
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), before Adjustments, Tax (11) (2)      
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), before Adjustments, after Tax 37 22      
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), Adjustments, before Tax 0 0      
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), Adjustments, Tax 0 0      
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), Adjustments, after Tax $ 0 $ 0