Amgen (AMGN) 10-Q4 Aug 222022 Q2 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2022	Aug. 01, 2022
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-37702
Entity Registrant Name	Amgen Inc.
Entity Central Index Key	0000318154
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	95-3540776
Entity Address, Address Line One	One Amgen Center Drive
Entity Address, City or Town	Thousand Oaks
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	91320-1799
City Area Code	805
Local Phone Number	447-1000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		534,930,850
The NASDAQ Global Select Market [Member] \| Common Stock [Member]
Entity Information [Line Items]
Title of 12(b) Security	Common stock, $0.0001 par value
Trading Symbol	AMGN
Security Exchange Name	NASDAQ
The NASDAQ Global Select Market [Member] \| 2.00% Senior Notes Due 2026 [Member]
Entity Information [Line Items]
Title of 12(b) Security	2.00% Senior Notes due 2026
Trading Symbol	AMGN26
Security Exchange Name	NASDAQ

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 1,317	$ 464	$ 2,793	$ 2,110
Other comprehensive income (loss), net of reclassification adjustments and taxes:
Foreign currency translation	(65)	14	(116)	(25)
Cash flow hedges	156	(48)	240	142
Other	0	(1)	0	0
Other comprehensive income (loss), net of reclassification adjustments and taxes	91	(35)	124	117
Comprehensive income	$ 1,408	$ 429	$ 2,917	$ 2,227

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues:
Total revenues	$ 6,594	$ 6,526	$ 12,832	$ 12,427
Operating expenses:
Cost of sales	1,510	1,637	3,071	3,127
Research and development	1,039	1,082	1,998	2,049
Acquired in-process research and development	0	1,505	0	1,505
Selling, general and administrative	1,327	1,384	2,555	2,638
Other	542	90	532	151
Total operating expenses	4,418	5,698	8,156	9,470
Operating income	2,176	828	4,676	2,957
Interest expense, net	(328)	(281)	(623)	(566)
Other (expense) income, net	(317)	11	(847)	24
Income before income taxes	1,531	558	3,206	2,415
Provision for income taxes	214	94	413	305
Net income	$ 1,317	$ 464	$ 2,793	$ 2,110
Earnings per share:
Basic (in usd per share)	$ 2.46	$ 0.81	$ 5.16	$ 3.67
Diluted (in usd per share)	$ 2.45	$ 0.81	$ 5.13	$ 3.65
Shares used in calculation of earnings per share:
Basic (in shares)	535	573	541	575
Diluted (in shares)	537	576	544	578
Product sales [Member]
Revenues:
Total revenues	$ 6,281	$ 6,114	$ 12,012	$ 11,706
Other revenues [Member]
Revenues:
Total revenues	$ 313	$ 412	$ 820	$ 721

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 5,203	$ 7,989
Marketable securities	1,980	48
Trade receivables, net	5,327	4,895
Inventories	4,554	4,086
Other current assets	2,258	2,367
Total current assets	19,322	19,385
Property, plant and equipment, net	5,158	5,184
Intangible assets, net	13,927	15,182
Goodwill	14,865	14,890
Other noncurrent assets	6,022	6,524
Total assets	59,294	61,165
Current liabilities:
Accounts payable	1,256	1,366
Accrued liabilities	10,545	10,731
Current portion of long-term debt	817	87
Total current liabilities	12,618	12,184
Long-term debt	35,705	33,222
Long-term tax liabilities	5,603	6,594
Other noncurrent liabilities	2,949	2,465
Contingencies and commitments
Stockholders’ equity:
Common stock and additional paid-in capital; $0.0001 par value; 2,750.0 shares authorized; outstanding—534.9 shares in 2022 and 558.3 shares in 2021	31,343	32,096
Accumulated deficit	(28,252)	(24,600)
Accumulated other comprehensive loss	(672)	(796)
Total stockholders’ equity	2,419	6,700
Total liabilities and stockholders’ equity	$ 59,294	$ 61,165

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Millions	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Common stock and additional paid-in capital, par value (in usd per share)	$ 0.0001	$ 0.0001
Common stock and additional paid-in capital, shares authorized	2,750	2,750
Common stock and additional paid-in capital, shares outstanding	534.9	558.3

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Millions, $ in Millions	Total	Number of shares of common stock [Member]	Common stock and additional paid-in capital [Member]	Accumulated deficit [Member]	Accumulated other comprehensive loss [Member]
Beginning Balance, Shares at Dec. 31, 2020		578.3
Balance as of beginning of period at Dec. 31, 2020	$ 9,409		$ 31,802	$ (21,408)	$ (985)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income for basic and diluted EPS	1,646			1,646
Other comprehensive income (loss), net of taxes	152				152
Dividends declared on common stock	(1,012)			(1,012)
Issuance of common stock in connection with the Company’s equity award programs, Shares		0.7
Issuance of common stock in connection with the Company’s equity award programs	6		6
Stock-based compensation expense	57		57
Tax impact related to employee stock-based compensation expense	(59)		(59)
Repurchases of common stock, Shares		(3.7)
Repurchases of common stock	(865)			(865)
Ending Balance, Shares at Mar. 31, 2021		575.3
Balance as of end of period at Mar. 31, 2021	9,334		31,806	(21,639)	(833)
Beginning Balance, Shares at Dec. 31, 2020		578.3
Balance as of beginning of period at Dec. 31, 2020	9,409		31,802	(21,408)	(985)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income for basic and diluted EPS	2,110
Ending Balance, Shares at Jun. 30, 2021		569.6
Balance as of end of period at Jun. 30, 2021	8,247		31,877	(22,762)	(868)
Beginning Balance, Shares at Mar. 31, 2021		575.3
Balance as of beginning of period at Mar. 31, 2021	9,334		31,806	(21,639)	(833)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income for basic and diluted EPS	464			464
Other comprehensive income (loss), net of taxes	(35)				(35)
Issuance of common stock in connection with the Company’s equity award programs, Shares		0.8
Issuance of common stock in connection with the Company’s equity award programs	47		47
Stock-based compensation expense	100		100
Tax impact related to employee stock-based compensation expense	(76)		(76)
Repurchases of common stock, Shares		(6.5)
Repurchases of common stock	(1,592)			(1,592)
Other	5			5
Ending Balance, Shares at Jun. 30, 2021		569.6
Balance as of end of period at Jun. 30, 2021	$ 8,247		31,877	(22,762)	(868)
Beginning Balance, Shares at Dec. 31, 2021	558.3	558.3
Balance as of beginning of period at Dec. 31, 2021	$ 6,700		32,096	(24,600)	(796)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income for basic and diluted EPS	1,476			1,476
Other comprehensive income (loss), net of taxes	33				33
Dividends declared on common stock	(1,034)			(1,034)
Issuance of common stock in connection with the Company’s equity award programs, Shares		0.5
Issuance of common stock in connection with the Company’s equity award programs	18		18
Stock-based compensation expense	78		78
Tax impact related to employee stock-based compensation expense	(45)		(45)
Repurchases of common stock, Shares		(24.6)
Repurchases of common stock	(6,310)		(900)	(5,410)
Ending Balance, Shares at Mar. 31, 2022		534.2
Balance as of end of period at Mar. 31, 2022	$ 916		31,247	(29,568)	(763)
Beginning Balance, Shares at Dec. 31, 2021	558.3	558.3
Balance as of beginning of period at Dec. 31, 2021	$ 6,700		32,096	(24,600)	(796)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income for basic and diluted EPS	$ 2,793
Ending Balance, Shares at Jun. 30, 2022	534.9	534.9
Balance as of end of period at Jun. 30, 2022	$ 2,419		31,343	(28,252)	(672)
Beginning Balance, Shares at Mar. 31, 2022		534.2
Balance as of beginning of period at Mar. 31, 2022	916		31,247	(29,568)	(763)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income for basic and diluted EPS	1,317			1,317
Other comprehensive income (loss), net of taxes	91				91
Issuance of common stock in connection with the Company’s equity award programs, Shares		0.7
Issuance of common stock in connection with the Company’s equity award programs	45		45
Stock-based compensation expense	120		120
Tax impact related to employee stock-based compensation expense	(69)		(69)
Other	$ (1)			(1)
Ending Balance, Shares at Jun. 30, 2022	534.9	534.9
Balance as of end of period at Jun. 30, 2022	$ 2,419		$ 31,343	$ (28,252)	$ (672)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	1 Months Ended		3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]
Common stock, dividends declared per share (in usd per share)	$ 1.94	$ 1.94	$ 1.94	$ 1.76

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities:
Net income	$ 2,793	$ 2,110
Depreciation, amortization and other	1,669	1,696
Deferred income taxes	(514)	(137)
Acquired in-process research and development	0	1,505
Adjustments for equity method investments	497	(36)
Loss on divestiture	560	0
Other items, net	436	206
Changes in operating assets and liabilities, net of acquisitions:
Trade receivables, net	(504)	35
Inventories	(410)	(167)
Other assets	198	(258)
Accounts payable	(98)	(156)
Accrued income taxes, net	(685)	(930)
Long-term tax liabilities	108	47
Other liabilities	44	120
Net cash provided by operating activities	4,094	4,035
Cash flows from investing activities:
Purchases of marketable securities	(1,976)	(8,000)
Proceeds from sales of marketable securities	0	4,404
Proceeds from maturities of marketable securities	47	6,528
Purchases of property, plant and equipment	(436)	(351)
Cash paid for acquisitions, net of cash acquired	0	(1,626)
Other	61	(65)
Net cash (used in) provided by investing activities	(2,304)	890
Cash flows from financing activities:
Net proceeds from issuance of debt	3,954	0
Repurchases of common stock (Note 10)	(6,360)	(2,452)
Dividends paid	(2,118)	(2,024)
Other	(52)	(85)
Net cash used in financing activities	(4,576)	(4,561)
(Decrease) increase in cash and cash equivalents	(2,786)	364
Cash and cash equivalents at beginning of period	7,989	6,266
Cash and cash equivalents at end of period	$ 5,203	$ 6,630

Summary of significant accounti

Summary of significant accounting policies	6 Months Ended
Summary of significant accounting policies	Jun. 30, 2022
Accounting Policies [Abstract]
Summary of significant accounting policies	Summary of significant accounting policies Business Amgen Inc. (including its subsidiaries, referred to as “Amgen,” “the Company,” “we,” “our” or “us”) is a global biotechnology pioneer that discovers, develops, manufactures and delivers innovative human therapeutics. We operate in one business segment: human therapeutics. Basis of presentation The financial information for the three and six months ended June 30, 2022 and 2021, is unaudited but includes all adjustments (consisting of only normal, recurring adjustments unless otherwise indicated), which Amgen considers necessary for a fair presentation of its condensed consolidated results of operations for those periods. Interim results are not necessarily indicative of results for the full fiscal year. The condensed consolidated financial statements should be read in conjunction with our consolidated financial statements and the notes thereto contained in our Annual Report on Form 10-K for the year ended December 31, 2021, and with our condensed consolidated financial statements and the notes thereto contained in our Quarterly Report on Form 10-Q for the period ended March 31, 2022. Principles of consolidation The condensed consolidated financial statements include the accounts of Amgen as well as its majority-owned subsidiaries. In determining whether we are the primary beneficiary of a variable interest entity, we consider whether we have both the power to direct activities of the entity that most significantly impact the entity’s economic performance and the obligation to absorb losses of or the right to receive benefits from the entity that could potentially be significant to that entity. We do not have any significant interests in any variable interest entities of which we are the primary beneficiary. All material intercompany transactions and balances have been eliminated in consolidation. Use of estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results may differ from those estimates. Property, plant and equipment, net Property, plant and equipment is recorded at historical cost, net of accumulated depreciation and amortization, of $9.0 billion and $8.8 billion as of June 30, 2022 and December 31, 2021, respectively. Recent accounting pronouncements In March 2020, the FASB issued a new accounting standard to ease the financial reporting burdens caused by the expected market transition from LIBOR and other interbank offered rates to alternative reference rates, commonly referred to as reference rate reform. The new standard provides temporary optional expedients and exceptions to current GAAP guidance on contract modifications and hedge accounting. Specifically, a modification to transition to an alternative reference rate is treated as an event that does not require contract remeasurement or reassessment of a previous accounting treatment. Moreover, for all types of hedging relationships, an entity is permitted to change the reference rate without having to dedesignate the hedging relationship. The standard is generally effective for all contract modifications made and hedging relationships evaluated through December 31, 2022. In January 2021, the FASB issued a new accounting standard that expanded the scope of the original March 2020 standard to include derivative instruments on discounting transactions. We do not expect the two standards to have a material impact on our condensed consolidated financial statements.

Acquisitions

Acquisitions	6 Months Ended
Acquisitions	Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions and divestitures Acquisition of Teneobio, Inc. On October 19, 2021, we acquired all of the outstanding stock of Teneobio, a privately held, clinical-stage biotechnology company developing a new class of biologics called human heavy-chain antibodies, which are single-chain antibodies composed of the human heavy-chain domain. The transaction, which was accounted for as a business combination, includes Teneobio’s proprietary bispecific and multispecific antibody technologies, which complement Amgen’s existing antibody capabilities and bispecific T-cell engager (BiTE ® ) platform and will enable significant acceleration and efficiency in the discovery and development of new molecules to treat diseases across Amgen’s core therapeutic areas. Upon its acquisition, Teneobio became a wholly owned subsidiary of Amgen, and its operations have been included in our condensed consolidated financial statements commencing on the acquisition date. Measurement period adjustments for the six months ended June 30, 2022, included changes to the purchase price allocation and total consideration, resulting in a net increase of $22 million to goodwill. The measurement period adjustments resulted primarily from valuation inputs pertaining to certain acquired assets based on facts and circumstances that existed as of the acquisition date and did not result from events subsequent to the acquisition date. These adjustments did not have a significant impact on Amgen’s results of operations during the six months ended June 30, 2022, and would not have had a significant impact on prior-period results if these adjustments had been made as of the acquisition date. The following table summarizes the total consideration and allocated acquisition date fair values of assets acquired and liabilities assumed, inclusive of measurement period adjustments (in millions): Amounts Cash purchase price $ 993 Contingent consideration 299 Total consideration $ 1,292 Cash and cash equivalents $ 100 In-process research and development 991 Finite-lived intangible asset – research and development technology rights 115 Finite-lived intangible assets – licensing rights 41 Goodwill 273 Other assets, net 16 Deferred tax liability (244) Total assets acquired, net $ 1,292 Consideration for this transaction comprised (i) an upfront cash payment of $993 million, which included a working-capital adjustment, and (ii) future contingent milestone payments to Teneobio’s former equity holders of up to $1.6 billion in cash, based on the achievement of various development and regulatory milestones with regard to the leading asset (AMG 340, formerly TNB-585) and to various development milestones for other drug candidates. The estimated fair values of the contingent consideration obligations aggregated $299 million as of the acquisition date and were determined using a probability-weighted expected return methodology. The assumptions in this method include the probability of achieving the milestones and the expected payment dates, with such amounts discounted to present value based on our pretax cost of debt. See Note 11, Fair value measurement, for information regarding the estimated fair value of these obligations as of June 30, 2022. The estimated fair values of acquired IPR&D assets totaled $991 million, of which $784 million relates to AMG 340, that is in a phase 1 clinical trial for the treatment of metastatic castration-resistant prostate cancer (mCRPC), and the balance relates to four separate preclinical oncology programs. The R&D technology rights of $115 million relate to Teneobio’s proprietary bispecific and multispecific antibody technologies; the amount is being amortized over 10 years by using the straight-line method. Teneobio has also licensed its technology and certain identified targets to various third parties, representing contractual agreements valued at $41 million. The estimated fair values for these intangible assets were determined using a multi-period excess earnings income approach that discounts expected future cash flows to present value by applying a discount rate that represents the estimated rate that market participants would use to value the intangible assets. The projected cash flows were based on certain assumptions attributable to the respective intangible asset, including estimates of future revenues and expenses, the time and resources needed to complete development and the probabilities of obtaining marketing approval from the FDA and other regulatory agencies. A deferred tax liability of $244 million was recognized on temporary differences related to the book bases and tax bases of the acquired identifiable assets and assumed liabilities, primarily driven by the intangible assets acquired. The excess of the acquisition date consideration over the fair values assigned to the assets acquired and the liabilities assumed of $273 million was recorded as goodwill, which is not deductible for tax purposes. The goodwill value represents expected synergies from both AMG 340 and the technologies acquired. Our accounting for this acquisition is preliminary and will be finalized upon completion of our analysis of certain tax-related items as we obtain additional information during the measurement period of up to one year from the acquisition date. Acquisition of Five Prime Therapeutics, Inc. On April 16, 2021, Amgen completed its acquisition of Five Prime for a total cash consideration of $1.6 billion, net of cash acquired. The purchase price was funded with cash on hand. This transaction was accounted for as an asset acquisition because substantially all the value of the assets acquired was concentrated in the intellectual property rights of bemarituzumab, a phase 3 trial-ready, first-in-class program for gastric cancer. Five Prime’s operations have been included in our condensed consolidated financial statements commencing after the acquisition date. We allocated the consideration to acquire Five Prime to: the bemarituzumab IPR&D program of $1.5 billion, which was expensed immediately in Acquired IPR&D expense in the Condensed Consolidated Statements of Income; deferred tax assets of $177 million; and other net liabilities of $47 million. The Acquired IPR&D expense was not tax deductible. Divestiture of Gensenta İlaç Sanayi ve Ticaret A.Ş. On June 28, 2022, we entered into a share purchase agreement with Eczacıbaşı under which Eczacıbaşı will acquire all of our shares in Gensenta—a subsidiary in Turkey. Net assets related to Gensenta of $80 million met the criteria to be classified as held-for-sale and did not meet the criteria to be classified as discontinued operations. Upon closing of the transaction, we expect to receive $135 million in cash. The transaction is expected to close in the third quarter of 2022 upon approval by the Turkish Competition Authority. As of June 30, 2022, held-for-sale assets and liabilities of $100 million and $20 million were included in Other current assets and Accrued liabilities, respectively, in the Condensed Consolidated Balance Sheets. During the three months ended June 30, 2022, we recognized a loss of $560 million recorded to Other operating expenses in the Condensed Consolidated Statements of Income, primarily due to the impact of the cumulative foreign currency translation loss, with valuation allowances to Other current assets and Accrued liabilities in the Condensed Consolidated Balance Sheets.

Revenues

Revenues	6 Months Ended
Revenues	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenues	Revenues We operate in one business segment: human therapeutics. Therefore, results of our operations are reported on a consolidated basis for purposes of segment reporting, consistent with internal management reporting. Revenues by product and by geographic area, based on customers’ locations, are presented below. The majority of ROW revenues relates to products sold in Europe. Revenues were as follows (in millions): Three months ended June 30, 2022 2021 U.S. ROW Total U.S. ROW Total ENBREL $ 1,036 $ 15 $ 1,051 $ 1,113 $ 31 $ 1,144 Prolia 611 311 922 538 276 814 Otezla 487 107 594 423 111 534 XGEVA 391 142 533 355 133 488 Aranesp 132 225 357 135 232 367 Neulasta 263 47 310 434 52 486 Repatha 154 171 325 143 143 286 KYPROLIS 213 104 317 190 90 280 Nplate 156 128 284 136 109 245 Other products 1,003 585 1,588 907 563 1,470 Total product sales (1) $ 4,446 $ 1,835 6,281 $ 4,374 $ 1,740 6,114 Other revenues 313 412 Total revenues $ 6,594 $ 6,526 Six months ended June 30, 2022 2021 U.S. ROW Total U.S. ROW Total ENBREL $ 1,879 $ 34 $ 1,913 $ 2,007 $ 61 $ 2,068 Prolia 1,193 581 1,774 1,039 533 1,572 Otezla 837 208 1,045 789 221 1,010 XGEVA 759 276 1,035 689 267 956 Aranesp 269 446 715 260 462 722 Neulasta 567 91 658 855 113 968 Repatha 319 335 654 282 290 572 KYPROLIS 409 195 604 349 182 531 Nplate 312 238 550 248 224 472 Other products 1,939 1,125 3,064 1,759 1,076 2,835 Total product sales (1) $ 8,483 $ 3,529 12,012 $ 8,277 $ 3,429 11,706 Other revenues 820 721 Total revenues $ 12,832 $ 12,427 ____________

Income taxes

Income taxes	6 Months Ended
Income taxes	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income taxes	Income taxes The effective tax rates for the three and six months ended June 30, 2022, were 14.0% and 12.9%, respectively, compared with 16.8% and 12.6%, respectively, for the corresponding periods of the prior year. The decrease in our effective tax rate for the three months ended June 30, 2022, was primarily due to the prior year nondeductible IPR&D expense arising from the acquisition of Five Prime, partially offset by current year unfavorable items including a loss on a nonstrategic divestiture. The increase in our effective tax rate for the six months ended June 30, 2022, was primarily due to current year unfavorable items compared to last year including a loss on a nonstrategic divestiture, partially offset by the prior year nondeductible IPR&D expense arising from the acquisition of Five Prime and changes in earnings mix. The effective tax rates differ from the federal statutory rate primarily as a result of foreign earnings from the Company’s operations conducted in Puerto Rico, a territory of the United States treated as a foreign jurisdiction for U.S. tax purposes, that are currently subject to a tax incentive grant through 2035. In addition, the Company’s operations conducted in Singapore are subject to a tax incentive grant through 2034. These foreign earnings are also subject to U.S. tax at a reduced rate of 10.5%. See Note 2, Acquisitions and divestitures. The U.S. territory of Puerto Rico imposes a 4% excise tax on the gross intercompany purchase price of goods and services from our manufacturer in Puerto Rico. We account for the excise tax as a manufacturing cost that is capitalized in Inventories and expensed in Cost of sales when the related products are sold. For U.S. income tax purposes, in 2022, the excise tax results in foreign tax credits that are generally recognized in our provision for income taxes when the excise tax is incurred. One or more of our legal entities file income tax returns in the U.S. federal jurisdiction, various U.S. state jurisdictions and certain foreign jurisdictions. Our income tax returns are routinely examined by tax authorities in those jurisdictions. Significant disputes can and have arisen with tax authorities involving issues regarding the timing and amount of deductions, the use of tax credits and allocations of income and expenses among various tax jurisdictions because of differing interpretations of tax laws, regulations and relevant facts. Tax authorities, including the IRS, are becoming more aggressive and are particularly focused on such matters. In 2017, we received an RAR and a modified RAR from the IRS for the years 2010–2012, proposing significant adjustments that primarily relate to the allocation of profits between certain of our entities in the United States and the U.S. territory of Puerto Rico. We disagreed with the proposed adjustments and calculations and pursued resolution with the IRS appeals office but were unable to reach resolution. In July 2021, we filed a petition in the U.S. Tax Court to contest two duplicate Statutory Notices of Deficiency (Notices) for the years 2010–2012 that we received in May and July 2021, which seek to increase our U.S. taxable income for the years 2010–2012 by an amount that would result in additional federal tax of approximately $3.6 billion plus interest. Any additional tax that could be imposed for the years 2010–2012 would be reduced by up to approximately $900 million of repatriation tax previously accrued on our foreign earnings. In 2020, we received an RAR and a modified RAR from the IRS for the years 2013–2015, also proposing significant adjustments that primarily relate to the allocation of profits between certain of our entities in the United States and the U.S. territory of Puerto Rico similar to those proposed for the years 2010–2012. We disagreed with the proposed adjustments and calculations and pursued resolution with the IRS appeals office but were unable to reach resolution. In July 2022, we filed a petition in the U.S. Tax Court to contest a Notice for the years 2013–2015 that we previously reported receiving in April 2022 that seeks to increase our U.S. taxable income for the years 2013–2015 by an amount that would result in additional federal tax of approximately $5.1 billion, plus interest. In addition, the Notice asserts penalties of approximately $2.0 billion. Any additional tax that could be imposed for the years 2013–2015 would be reduced by up to approximately $2.2 billion of repatriation tax previously accrued on our foreign earnings. We firmly believe that the IRS positions set forth in the 2010–2012 and 2013–2015 Notices are without merit. We are contesting the 2010–2012 and 2013–2015 Notices through the judicial process, and we will seek consolidation of the two periods into one case in the U.S. Tax Court. We are currently under examination by the IRS for the years 2016–2018 with respect to issues similar to those for the 2010 through 2015 period. In addition, we have examinations by a number of state and foreign tax jurisdictions. Final resolution of these complex matters is not likely within the next 12 months. We believe our accrual for income tax liabilities is appropriate based on past experience, interpretations of tax law, application of the tax law to our facts and judgments about potential actions by tax authorities; however, due to the complexity of the provision for income taxes and uncertain resolution of these matters, the ultimate outcome of any tax matters may result in payments substantially greater than amounts accrued and could have a material adverse impact on our condensed consolidated financial statements. We are no longer subject to U.S. federal income tax examinations for years ended on or before December 31, 2009. See Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations—Results of Operations, Income Taxes, for further discussion and Part II, Item 1A, Risk Factors— The adoption and interpretation of new tax legislation or exposure to additional tax liabilities could affect our profitability . During the three and six months ended June 30, 2022, the gross amounts of our UTBs increased by $50 million and $95 million, respectively, as a result of tax positions taken during the current year. Substantially all of the UTBs as of June 30, 2022, if recognized, would affect our effective tax rate.

Earnings per share

Earnings per share	6 Months Ended
Earnings per share	Jun. 30, 2022
Earnings Per Share [Abstract]
Earnings per share	Earnings per share The computation of basic EPS is based on the weighted-average number of our common shares outstanding. The computation of diluted EPS is based on the weighted-average number of our common shares outstanding and dilutive potential common shares, which primarily include shares that may be issued under our stock option, restricted stock and performance unit award programs (collectively, dilutive securities), as determined by using the treasury stock method. The computations for basic and diluted EPS were as follows (in millions, except per-share data): Three months ended Six months ended 2022 2021 2022 2021 Income (Numerator): Net income for basic and diluted EPS $ 1,317 $ 464 $ 2,793 $ 2,110 Shares (Denominator): Weighted-average shares for basic EPS 535 573 541 575 Effect of dilutive securities 2 3 3 3 Weighted-average shares for diluted EPS 537 576 544 578 Basic EPS $ 2.46 $ 0.81 $ 5.16 $ 3.67 Diluted EPS $ 2.45 $ 0.81 $ 5.13 $ 3.65 For the three and six months ended June 30, 2022 and 2021, the number of antidilutive employee stock-based awards excluded from the computation of diluted EPS was not significant.

Investments

Investments	6 Months Ended
Investments	Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Investments	Investments Available-for-sale investments The amortized cost, gross unrealized gains, gross unrealized losses and fair values of interest-bearing securities, which are considered available-for-sale, by type of security were as follows (in millions): Types of securities as of June 30, 2022 Amortized Gross Gross Fair U.S. Treasury notes $ — $ — $ — $ — U.S. Treasury bills 1,980 — — 1,980 Money market mutual funds 4,433 — — 4,433 Other short-term interest-bearing securities — — — — Total interest-bearing securities $ 6,413 $ — $ — $ 6,413 Types of securities as of December 31, 2021 Amortized Gross Gross Fair U.S. Treasury notes $ 47 $ — $ — $ 47 U.S. Treasury bills 1,400 — — 1,400 Money market mutual funds 5,856 — — 5,856 Other short-term interest-bearing securities 1 — — 1 Total interest-bearing securities $ 7,304 $ — $ — $ 7,304 The fair values of interest-bearing securities by location in the Condensed Consolidated Balance Sheets were as follows (in millions): Condensed Consolidated Balance Sheets locations June 30, 2022 December 31, 2021 Cash and cash equivalents $ 4,433 $ 7,256 Marketable securities 1,980 48 Total interest-bearing securities $ 6,413 $ 7,304 Cash and cash equivalents in the above table excludes bank account cash of $770 million and $733 million as of June 30, 2022 and December 31, 2021, respectively. Total interest-bearing securities as of June 30, 2022 and December 31, 2021, mature in one year or less. For the three and six months ended June 30, 2022 and 2021, realized gains and losses on interest-bearing securities were not material. Realized gains and losses on interest-bearing securities are recorded in Other (expense) income, net, in the Condensed Consolidated Statements of Income. The cost of securities sold is based on the specific-identification method. The primary objective of our investment portfolio is to maintain safety of principal, prudent levels of liquidity and acceptable levels of risk. Our investment policy limits interest-bearing security investments to certain types of debt and money market instruments issued by institutions with investment-grade credit ratings, and it places restrictions on maturities and concentration by asset class and issuer. Equity securities We held investments in equity securities with readily determinable fair values (publicly traded securities) of $361 million and $611 million as of June 30, 2022 and December 31, 2021, respectively, which are included in Other noncurrent assets in the Condensed Consolidated Balance Sheets. During the three months ended June 30, 2022 and 2021, net unrealized gains and losses on publicly traded securities were a $106 million net loss and a $25 million net gain, respectively. During the six months ended June 30, 2022 and 2021, net unrealized losses on publicly traded securities were $276 million and $31 million, respectively. Realized gains and losses on sales of publicly traded securities for the three and six months ended June 30, 2022 and 2021, were not material. We held investments of $280 million and $262 million in equity securities without readily determinable fair values as of June 30, 2022 and December 31, 2021, respectively, which are included in Other noncurrent assets in the Condensed Consolidated Balance Sheets. During the three and six months ended June 30, 2022 and 2021, upward adjustments and downward adjustments on these securities were not material. Adjustments were based on observable price transactions. Equity method investments BeiGene, Ltd. As of June 30, 2022 and December 31, 2021, we had an ownership interest in BeiGene of approximately 18.2% and 18.4%, respectively, which is included in Other noncurrent assets in the Condensed Consolidated Balance Sheets and accounted for under the equity method of accounting. We amortize the difference between the fair value of equity securities acquired and our proportionate share of the carrying value of the underlying net assets of BeiGene over the useful lives of the assets that gave rise to this basis difference. This amortization and our share of the results of operations of BeiGene are included in Other (expense) income, net , in the Condensed Consolidated Statements of Income one quarter in arrears. During the three months ended June 30, 2022 and 2021, the carrying value of our equity investment was adjusted by our share of BeiGene’s net loss of $80 million and net income of $14 million, respectively, and amortization of the basis difference of $48 million and $42 million, respectively. During the six months ended June 30, 2022 and 2021, the carrying value of our equity investment was adjusted by our share of BeiGene’s net losses of $188 million and $83 million, respectively, and amortization of the basis difference of $95 million and $84 million, respectively. As of June 30, 2022 and December 31, 2021, the carrying values of our investment in BeiGene totaled $2.5 billion and $2.8 billion, respectively, and the fair values of our investment totaled $3.1 billion and $5.1 billion, respectively. As of June 30, 2022, we believe the carrying value of our equity investment in BeiGene is fully recoverable. Neumora Therapeutics, Inc. On September 30, 2021, we acquired an approximately 25.9% ownership interest in Neumora, a privately held company, for $257 million, which is included in Other noncurrent assets in the Condensed Consolidated Balance Sheets, in exchange for a $100 million cash payment and $157 million in noncash consideration primarily related to future services. Although our equity investment provides us with the ability to exercise significant influence over Neumora, we have elected the fair value option to account for our equity investment. Under the fair value option, changes in the fair value of the investment are recognized through earnings each reporting period. We believe the fair value option best reflects the economics of the underlying transaction. As of June 30, 2022 and December 31, 2021, our ownership interest in Neumora was approximately 25.7% and 25.9%, respectively, and the fair values of our investment were $131 million and $220 million, respectively. Accordingly, for the reduction in fair value of our investment during the three and six months ended June 30, 2022, we recognized a loss of $39 million and $89 million, respectively, for the reduction in fair value of our investment in Other (expense) income, net, in the Condensed Consolidated Statements of Income. For information on determination of fair values, see Note 11, Fair value measurement. Limited partnerships We held limited partnership investments of $338 million and $573 million as of June 30, 2022 and December 31, 2021, respectively, which are included in Other noncurrent assets in the Condensed Consolidated Balance Sheets. These investments, primarily investment funds of early-stage biotechnology companies, are accounted for by using the equity method of accounting and are measured by using our proportionate share of the net asset values of the underlying investments held by the limited partnerships as a practical expedient. These investments are typically redeemable only through distributions upon liquidation of the underlying assets. As of June 30, 2022, unfunded additional commitments to be made for these investments during the next several years were $209 million. For the three months ended June 30, 2022 and 2021, net unrealized losses from our limited partnership investments were $60 million and $43 million, respectively. For the six months ended June 30, 2022 and 2021, net unrealized gains and losses from our limited partnership investments were a $220 million net loss and a $165 million net gain, respectively.

Inventories

Inventories	6 Months Ended
Inventories	Jun. 30, 2022
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consisted of the following (in millions): June 30, 2022 December 31, 2021 Raw materials $ 779 $ 647 Work in process 2,763 2,367 Finished goods 1,012 1,072 Total inventories $ 4,554 $ 4,086

Goodwill and other intangible a

Goodwill and other intangible assets	6 Months Ended
Goodwill and other intangible assets	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and other intangible assets	Goodwill and other intangible assets Goodwill The change in the carrying amount of goodwill was as follows (in millions): Six months ended Beginning balance $ 14,890 Adjustments to goodwill resulting from acquisitions and divestitures, net (1) 7 Currency translation adjustment (32) Ending balance $ 14,865 ____________ (1) Composed of adjustments to goodwill resulting from changes to the acquisition date fair values of net assets acquired in the acquisition of Teneobio and the nonstrategic Gensenta divestiture. See Note 2, Acquisitions and divestitures. Other intangible assets Other intangible assets consisted of the following (in millions): June 30, 2022 December 31, 2021 Gross Accumulated Other intangible Gross Accumulated Other intangible Finite-lived intangible assets: Developed-product-technology rights $ 25,537 $ (13,863) $ 11,674 $ 25,561 $ (12,769) $ 12,792 Licensing rights 3,864 (3,050) 814 3,807 (2,973) 834 Marketing-related rights 1,326 (1,125) 201 1,354 (1,112) 242 Research and development technology rights 1,371 (1,153) 218 1,377 (1,133) 244 Total finite-lived intangible assets 32,098 (19,191) 12,907 32,099 (17,987) 14,112 Indefinite-lived intangible assets: In-process research and development 1,020 — 1,020 1,070 — 1,070 Total other intangible assets $ 33,118 $ (19,191) $ 13,927 $ 33,169 $ (17,987) $ 15,182 Developed-product-technology rights consists of rights related to marketed products. Licensing rights primarily consists of contractual rights to receive future milestone, royalty and profit-sharing payments; capitalized payments to third parties for milestones related to regulatory approvals to commercialize products; and upfront payments associated with royalty obligations for marketed products. Marketing-related rights primarily consists of rights related to the sale and distribution of marketed products. R&D technology rights pertains to technologies used in R&D that have alternative future uses. IPR&D consists of R&D projects acquired in a business combination that are not complete at the time of acquisition due to remaining technological risks and/or lack of receipt of required regulatory approvals. We review IPR&D projects for impairment annually, whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable and upon the establishment of technological feasibility or regulatory approval. During the three months ended June 30, 2022 and 2021, we recognized amortization associated with our finite-lived intangible assets of $629 million and $652 million, respectively. During the six months ended June 30, 2022 and 2021, we recognized amortization associated with our finite-lived intangible assets of $1.3 billion in both periods. Amortization of intangible assets is primarily included in Cost of sales in the Condensed Consolidated Statements of Income. The total estimated amortization for our finite-lived intangible assets for the remaining six months ending December 31, 2022, and the years ending December 31, 2023, 2024, 2025, 2026 and 2027, are $1.3 billion, $2.5 billion, $2.5 billion, $2.4 billion, $1.7 billion and $1.8 billion, respectively.

Financing arrangements

Financing arrangements	6 Months Ended
Financing arrangements	Jun. 30, 2022
Debt Disclosure [Abstract]
Financing arrangements	Financing arrangements Our borrowings consisted of the following (in millions): June 30, 2022 December 31, 2021 0.41% CHF700 million bonds due 2023 (0.41% 2023 Swiss franc Bonds) $ 733 $ 767 2.25% notes due 2023 (2.25% 2023 Notes) 750 750 3.625% notes due 2024 (3.625% 2024 Notes) 1,400 1,400 1.90% notes due 2025 (1.90% 2025 Notes) 500 500 3.125% notes due 2025 (3.125% 2025 Notes) 1,000 1,000 2.00% €750 million notes due 2026 (2.00% 2026 euro Notes) 786 853 2.60% notes due 2026 (2.60% 2026 Notes) 1,250 1,250 5.50% £475 million notes due 2026 (5.50% 2026 pound sterling Notes) 579 643 2.20% notes due 2027 (2.20% 2027 Notes) 1,750 1,750 3.20% notes due 2027 (3.20% 2027 Notes) 1,000 1,000 1.65% notes due 2028 (1.65% 2028 Notes) 1,250 1,250 3.00% notes due 2029 (3.00% 2029 Notes) 750 — 4.00% £700 million notes due 2029 (4.00% 2029 pound sterling Notes) 853 947 2.45% notes due 2030 (2.45% 2030 Notes) 1,250 1,250 2.30% notes due 2031 (2.30% 2031 Notes) 1,250 1,250 2.00% notes due 2032 (2.00% 2032 Notes) 1,250 1,250 3.35% notes due 2032 (3.35% 2032 Notes) 1,000 — 6.375% notes due 2037 (6.375% 2037 Notes) 478 478 6.90% notes due 2038 (6.90% 2038 Notes) 254 254 6.40% notes due 2039 (6.40% 2039 Notes) 333 333 3.15% notes due 2040 (3.15% 2040 Notes) 2,000 2,000 5.75% notes due 2040 (5.75% 2040 Notes) 373 373 2.80% notes due 2041 (2.80% 2041 Notes) 1,150 1,150 4.95% notes due 2041 (4.95% 2041 Notes) 600 600 5.15% notes due 2041 (5.15% 2041 Notes) 729 729 5.65% notes due 2042 (5.65% 2042 Notes) 415 415 5.375% notes due 2043 (5.375% 2043 Notes) 185 185 4.40% notes due 2045 (4.40% 2045 Notes) 2,250 2,250 4.563% notes due 2048 (4.563% 2048 Notes) 1,415 1,415 3.375% notes due 2050 (3.375% 2050 Notes) 2,250 2,250 4.663% notes due 2051 (4.663% 2051 Notes) 3,541 3,541 3.00% notes due 2052 (3.00% 2052 Notes) 1,350 1,350 4.20% notes due 2052 (4.20% 2052 Notes) 1,000 — 2.77% notes due 2053 (2.77% 2053 Notes) 940 940 4.40% notes due 2062 (4.40% 2062 Notes) 1,250 — Other notes due 2097 100 100 Unamortized bond discounts, premiums and issuance costs, net (1,245) (1,213) Fair value adjustments (210) 284 Other 13 15 Total carrying value of debt 36,522 33,309 Less current portion (817) (87) Total long-term debt $ 35,705 $ 33,222 There are no material differences between the effective interest rates and coupon rates of any of our borrowings, except for the 4.563% 2048 Notes, the 4.663% 2051 Notes and the 2.77% 2053 Notes, which have effective interest rates of 6.3%, 5.6% and 5.2%, respectively.

Stockholders' equity

Stockholders' equity	6 Months Ended
Stockholders' equity	Jun. 30, 2022
Equity [Abstract]
Stockholders' equity	Stockholders’ equity Stock repurchase program Activity under our stock repurchase program, on a trade date basis, was as follows (in millions): 2022 2021 Shares Dollars Shares Dollars First quarter 24.6 $ 5,410 3.7 $ 865 Second quarter — — 6.5 1,592 Total stock repurchases 24.6 $ 5,410 10.2 $ 2,457 On February 24, 2022, the Company entered into ASR agreements with three third-party financial institutions (Dealers). Under the ASR agreements, the Company made payments in an aggregate amount of $6.0 billion on February 25, 2022, to the Dealers and received and retired an initial 23.3 million shares of the Company’s common stock from the Dealers. The payments were recorded as reductions to shareholders’ equity, consisting of a $5.1 billion increase to accumulated deficit, which reflects the value of the initial shares received, and a $0.9 billion decrease in additional paid-in capital, which reflects the value of the stock that remains to be delivered by the Dealers pending final settlement. The final number of shares to be repurchased by the Company will be based on the daily volume-weighted average stock price of the Company’s common stock during the terms of the ASR agreements, less a discount and subject to adjustments pursuant to the terms and conditions of the ASR agreements. At settlement, under certain circumstances, one or more of the Dealers may be required to deliver additional shares of common stock to the Company, or under certain circumstances, the Company may be required to deliver shares of common stock or to make a cash payment, at its election, to a Dealer. The final settlement under the ASR agreements is scheduled to occur in the third quarter of 2022, subject to an earlier termination under certain limited circumstances, as set forth in the ASR agreements. In total, we repurchased 24.6 million shares of common stock in the first quarter of 2022, including shares received under the ASR agreements. As of June 30, 2022, $4.6 billion of authorization remained available under our stock repurchase program. Dividends In March 2022 and December 2021, the Board of Directors declared a quarterly cash dividend of $1.94 per share, which were paid in June 2022 and March 2022, respectively. In August 2022, the Board of Directors declared a quarterly cash dividend of $1.94 per share, which will be paid on September 8, 2022. Accumulated other comprehensive income (loss) The components of AOCI were as follows (in millions): Foreign Cash flow Available-for-sale Other AOCI Balance as of December 31, 2021 $ (844) $ 61 $ — $ (13) $ (796) Foreign currency translation adjustments (51) — — — (51) Unrealized gains — 56 — — 56 Reclassification adjustments to income — 51 — — 51 Income taxes — (23) — — (23) Balance as of March 31, 2022 (895) 145 — (13) (763) Foreign currency translation adjustments (65) — — — (65) Unrealized gains — 67 — — 67 Reclassification adjustments to income — 132 — — 132 Income taxes — (43) — — (43) Balance as of June 30, 2022 $ (960) $ 301 $ — $ (13) $ (672) Reclassifications out of AOCI and into earnings, including related income tax expenses, were as follows (in millions): Three months ended June 30, Components of AOCI 2022 2021 Condensed Consolidated Cash flow hedges: Foreign currency contract gains (losses) $ 53 $ (18) Product sales Cross-currency swap contract (losses) gains (185) 46 Other (expense) income, net (132) 28 Income before income taxes 28 (6) Provision for income taxes $ (104) $ 22 Net income Six months ended June 30, Components of AOCI 2022 2021 Condensed Consolidated Cash flow hedges: Foreign currency contract gains (losses) $ 80 $ (19) Product sales Cross-currency swap contract losses (263) (86) Other (expense) income, net (183) (105) Income before income taxes 39 22 Provision for income taxes $ (144) $ (83) Net income

Fair value measurement

Fair value measurement	6 Months Ended
Fair value measurement	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair value measurement	Fair value measurement To estimate the fair value of our financial assets and liabilities, we use valuation approaches within a hierarchy that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing an asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about inputs that market participants would use in pricing an asset or liability and are developed based on the best information available in the circumstances. The fair value hierarchy is divided into three levels based on the source of inputs as follows: Level 1 — Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access Level 2 — Valuations for which all significant inputs are observable either directly or indirectly—other than Level 1 inputs Level 3 — Valuations based on inputs that are unobservable and significant to the overall fair value measurement The availability of observable inputs can vary among different types of financial assets and liabilities. To the extent that the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. In certain cases, inputs used for measuring fair value may fall into different levels of the fair value hierarchy. In such cases, for financial statement disclosure purposes, the level in the fair value hierarchy within which the fair value measurement is categorized is based on the lowest level of input used that is significant to the overall fair value measurement. The fair values of each major class of the Company’s financial assets and liabilities measured at fair value on a recurring basis were as follows (in millions): Quoted prices in Significant Significant Fair value measurement as of June 30, 2022, using: Total Assets: Available-for-sale securities: U.S. Treasury notes $ — $ — $ — $ — U.S. Treasury bills 1,980 — — 1,980 Money market mutual funds 4,433 — — 4,433 Other short-term interest-bearing securities — — — — Equity securities 361 — 131 492 Derivatives: Foreign currency contracts — 413 — 413 Cross-currency swap contracts — 29 — 29 Interest rate swap contracts — — — — Total assets $ 6,774 $ 442 $ 131 $ 7,347 Liabilities: Derivatives: Foreign currency contracts $ — $ 30 $ — $ 30 Cross-currency swap contracts — 503 — 503 Interest rate swap contracts — 591 — 591 Contingent consideration obligations — — 310 310 Total liabilities $ — $ 1,124 $ 310 $ 1,434 Quoted prices in Significant Significant Fair value measurement as of December 31, 2021, using: Total Assets: Available-for-sale securities: U.S. Treasury notes $ 47 $ — $ — $ 47 U.S. Treasury bills 1,400 — — 1,400 Money market mutual funds 5,856 — — 5,856 Other short-term interest-bearing securities — 1 — 1 Equity securities 611 — 220 831 Derivatives: Foreign currency contracts — 183 — 183 Cross-currency swap contracts — 66 — 66 Interest rate swap contracts — 16 — 16 Total assets $ 7,914 $ 266 $ 220 $ 8,400 Liabilities: Derivatives: Foreign currency contracts $ — $ 39 $ — $ 39 Cross-currency swap contracts — 339 — 339 Interest rate swap contracts — 156 — 156 Contingent consideration obligations — — 342 342 Total liabilities $ — $ 534 $ 342 $ 876 Interest-bearing and equity securities The fair values of our U.S. Treasury securities, money market mutual funds and equity investments in publicly traded securities are based on quoted market prices in active markets, with no valuation adjustment. The fair value of equity securities without readily determinable fair values are initially valued at the transaction price and subsequently valued based on a combination of market performance and publicly available market information for similar companies that have actively traded equity securities. Derivatives All of our foreign currency forward derivative contracts have maturities of three years or less, and all are with counterparties that have minimum credit ratings of A– or equivalent by S&P, Moody’s or Fitch. We estimate the fair values of these contracts by taking into consideration valuations obtained from a third-party valuation service that uses an income-based industry-standard valuation model for which all significant inputs are observable either directly or indirectly. These inputs include foreign currency exchange rates, LIBOR, swap rates and obligor credit default swap rates. In addition, inputs for our foreign currency option contracts include implied volatility measures. These inputs, when applicable, are at commonly quoted intervals. See Note 12, Derivative instruments. Our cross-currency swap contracts are with counterparties that have minimum credit ratings of A– or equivalent by S&P, Moody’s or Fitch. We estimate the fair values of these contracts by taking into consideration valuations obtained from a third-party valuation service that uses an income-based industry-standard valuation model for which all significant inputs are observable either directly or indirectly. These inputs include foreign currency exchange rates, LIBOR, swap rates, obligor credit default swap rates and cross-currency-basis swap spreads. See Note 12, Derivative instruments. Our interest rate swap contracts are with counterparties that have minimum credit ratings of A– or equivalent by S&P, Moody’s or Fitch. We estimate the fair values of these contracts by using an income-based industry-standard valuation model for which all significant inputs are observable either directly or indirectly. These inputs include LIBOR, swap rates and obligor credit default swap rates. See Note 12, Derivative instruments. Contingent consideration obligations As a result of our business acquisitions, we have incurred contingent consideration obligations as discussed below. The contingent consideration obligations are recorded at their fair values by using probability-adjusted discounted cash flows, and we revalue these obligations each reporting period until the related contingencies have been resolved. The fair value measurements of these obligations are based on significant unobservable inputs related to licensing rights and product candidates acquired in business combinations, and they are reviewed quarterly by management in our R&D and commercial sales organizations. The inputs include, as applicable, estimated probabilities and the timing of achieving specified development, regulatory and commercial milestones as well as estimated annual sales. Significant changes that increase or decrease the probabilities of achieving the related development, regulatory and commercial events or that shorten or lengthen the time required to achieve such events or that increase or decrease estimated annual sales would result in corresponding increases or decreases in the fair values of the obligations, as applicable. Changes in the fair values of contingent consideration obligations are recognized in Other operating expenses in the Condensed Consolidated Statements of Income. Changes in the carrying amounts of contingent consideration obligations were as follows (in millions): Three months ended Six months ended 2022 2021 2022 2021 Beginning balance $ 330 $ 39 $ 342 $ 33 Payments (1) (2) (3) (3) Net changes in valuations (19) 11 (29) 18 Ending balance $ 310 $ 48 $ 310 $ 48 As of June 30, 2022 and December 31, 2021, our contingent consideration obligations are primarily the result of our acquisition of Teneobio in October 2021, which obligates us to pay the former shareholders up to $1.6 billion upon achieving separate development and regulatory milestones with regard to various R&D programs. See Note 2, Acquisitions and divestitures. Summary of the fair values of other financial instruments Cash equivalents The fair values of cash equivalents approximate their carrying values due to the short-term nature of such financial instruments. Borrowings We estimated the fair values of our borrowings by using Level 2 inputs. As of June 30, 2022 and December 31, 2021, the aggregate fair values of our borrowings were $34.4 billion and $37.9 billion, respectively, and the carrying values were $36.5 billion and $33.3 billion, respectively. Investment in BeiGene, Ltd. We estimated the fair value of our investment in BeiGene by using Level 1 inputs. As of June 30, 2022 and December 31, 2021, the fair values were $3.1 billion and $5.1 billion, and the carrying values were $2.5 billion and $2.8 billion, respectively. During the three and six months ended June 30, 2022 and 2021, there were no transfers of assets or liabilities between fair value measurement levels, and there were no material remeasurements to the fair values of assets and liabilities that are not measured at fair value on a recurring basis, except with respect to the impairment of net assets in connection with the nonstrategic Gensenta divestiture. See Note 2, Acquisitions and divestitures.

Derivative instruments

Derivative instruments	6 Months Ended
Derivative instruments	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative instruments	Derivative instruments The Company is exposed to foreign currency exchange rate and interest rate risks related to its business operations. To reduce our risks related to such exposures, we use or have used certain derivative instruments, including foreign currency forward, cross-currency swap, forward interest rate and interest rate swap contracts. We do not use derivatives for speculative- trading purposes. Cash flow hedges We are exposed to possible changes in the values of certain anticipated foreign currency cash flows resulting from changes in foreign currency exchange rates primarily associated with our euro-denominated international product sales. Increases and decreases in the cash flows associated with our international product sales due to movements in foreign currency exchange rates are partially offset by corresponding increases and decreases in the cash flows from our international operating expenses resulting from these foreign currency exchange rate movements. To further reduce our exposure to foreign currency exchange rate fluctuations with regard to our international product sales, we enter into foreign currency forward contracts to hedge a portion of our projected international product sales up to a maximum of three years into the future; and at any given point in time, a higher percentage of nearer-term projected product sales are being hedged than in successive periods. As of June 30, 2022 and December 31, 2021, we had outstanding foreign currency forward contracts with aggregate notional amounts of $5.6 billion and $5.7 billion, respectively. We have designated these foreign currency forward contracts, which are primarily euro based, as cash flow hedges. Accordingly, we report the unrealized gains and losses on these contracts in AOCI in the Condensed Consolidated Balance Sheets, and we reclassify them to Product sales in the Condensed Consolidated Statements of Income in the same periods during which the hedged transactions affect earnings. To hedge our exposure to foreign currency exchange rate risk associated with certain of our long-term debt denominated in foreign currencies, we enter into cross-currency swap contracts. Under the terms of such contracts, we paid euros, pounds sterling and Swiss francs and received U.S. dollars for the notional amounts at the inception of the contracts; and based on these notional amounts, we exchange interest payments at fixed rates over the lives of the contracts by paying U.S. dollars and receiving euros, pounds sterling and Swiss francs. In addition, we will pay U.S. dollars to and receive euros, pounds sterling and Swiss francs from the counterparties at the maturities of the contracts for these same notional amounts. The terms of these contracts correspond to the related hedged debt, thereby effectively converting the interest payments and principal repayment on the debt from euros, pounds sterling and Swiss francs to U.S. dollars. We have designated these cross-currency swap contracts as cash flow hedges. Accordingly, the unrealized gains and losses on these contracts are reported in AOCI in the Condensed Consolidated Balance Sheets and reclassified to Other (expense) income, net, in the Condensed Consolidated Statements of Income in the same periods during which the hedged debt affects earnings. The notional amounts and interest rates of our cross-currency swaps as of June 30, 2022, were as follows (notional amounts in millions): Foreign currency U.S. dollars Hedged notes Notional amounts Interest rates Notional amounts Interest rates 0.41% 2023 Swiss franc Bonds CHF 700 0.4 % $ 704 3.4 % 2.00% 2026 euro Notes € 750 2.0 % $ 833 3.9 % 5.50% 2026 pound sterling Notes £ 475 5.5 % $ 747 6.0 % 4.00% 2029 pound sterling Notes £ 700 4.0 % $ 1,111 4.5 % In connection with the anticipated issuance of long-term fixed-rate debt, we occasionally enter into forward interest rate contracts in order to hedge the variability in cash flows due to changes in the applicable U.S. Treasury rate between the time we enter into these contracts and the time the related debt is issued. Gains and losses on forward interest rate contracts, which are designated as cash flow hedges, are recognized in AOCI i n the Condensed Consolidated Balance Sheets and are amortized into Interest expense, net, in the Condensed Consolidated Statements of Income over the lives of the associated debt issuances. Amounts recognized in connection with forward interest rate swaps during the six months ended June 30, 2022, and amounts expected to be recognized during the subsequent 12 months are not material. The unrealized gains and losses recognized in AOCI for our derivative instruments designated as cash flow hedges were as follows (in millions): Three months ended Six months ended Derivatives in cash flow hedging relationships 2022 2021 2022 2021 Foreign currency contracts $ 252 $ (46) $ 330 $ 137 Cross-currency swap contracts (185) 15 (207) (60) Total unrealized gains (losses) $ 67 $ (31) $ 123 $ 77 Fair value hedges To achieve a desired mix of fixed-rate and floating-rate debt, we entered into interest rate swap contracts that qualified for and were designated as fair value hedges. These interest rate swap contracts effectively convert fixed-rate coupons to floating-rate LIBOR-based coupons over the terms of the related hedge contracts. As of both June 30, 2022 and December 31, 2021, we had interest rate swap contracts with aggregate notional amounts of $6.7 billion that hedge certain portions of our long-term debt issuances. For interest rate swap contracts that qualify for and are designated as fair value hedges, we recognize in Interest expense, net, in the Condensed Consolidated Statements of Income the unrealized gain or loss on the derivative resulting from the change in fair value during the period, as well as the offsetting unrealized loss or gain of the hedged item resulting from the change in fair value during the period attributable to the hedged risk. If a hedging relationship involving an interest rate swap contract is terminated, the gain or loss realized on contract termination is recorded as an adjustment to the carrying value of the debt and amortized into Interest expense, net, over the remaining life of the previously hedged debt. The hedged liabilities and related cumulative-basis adjustments for fair value hedges of those liabilities were recorded in the Condensed Consolidated Balance Sheets as follows (in millions): Carrying amounts of hedged liabilities (1) Cumulative amounts of fair value hedging adjustments related to the carrying amounts of the hedged liabilities (2) Condensed Consolidated Balance Sheets locations June 30, 2022 December 31, 2021 June 30, 2022 December 31, 2021 Current portion of long-term debt $ 82 $ 85 $ 82 $ 85 Long-term debt $ 6,241 $ 6,729 $ (292) $ 199 ____________ (1) Current portion of long-term debt includes $82 million and $85 million of carrying value with discontinued hedging relationships as of June 30, 2022 and December 31, 2021, respectively. Long-term debt includes $399 million and $440 million of carrying value with discontinued hedging relationships as of June 30, 2022 and December 31, 2021, respectively. (2) Current portion of long-term debt includes $82 million and $85 million of hedging adjustments on discontinued hedging relationships as of June 30, 2022 and December 31, 2021, respectively. Long-term debt includes $299 million and $340 million of hedging adjustments on discontinued hedging relationships as of June 30, 2022 and December 31, 2021, respectively. Impact of hedging transactions The following tables summarize the amounts recorded in income and expense line items and the effects thereon from fair value and cash flow hedging, including discontinued hedging relationships (in millions): Three months ended June 30, 2022 Six months ended June 30, 2022 Product sales Other (expense) income, net Interest expense, net Product sales Other (expense) income, net Interest expense, net Total amounts recorded in income and (expense) line items presented in the Condensed Consolidated Statements of Income $ 6,281 $ (317) $ (328) $ 12,012 $ (847) $ (623) The effects of cash flow and fair value hedging: Gains (losses) on cash flow hedging relationships reclassified out of AOCI: Foreign currency contracts $ 53 $ — $ — $ 80 $ — $ — Cross-currency swap contracts $ — $ (185) $ — $ — $ (263) $ — Gains (losses) on fair value hedging relationships—interest rate swap agreements: Hedged items (1) $ — $ — $ 157 $ — $ — $ 494 Derivatives designated as hedging instruments $ — $ — $ (135) $ — $ — $ (450) Three months ended June 30, 2021 Six months ended June 30, 2021 Product sales Other (expense) income, net Interest expense, net Product sales Other (expense) income, net Interest expense, net Total amounts recorded in income and (expense) line items presented in the Condensed Consolidated Statements of Income $ 6,114 $ 11 $ (281) $ 11,706 $ 24 $ (566) The effects of cash flow and fair value hedging: (Losses) gains on cash flow hedging relationships reclassified out of AOCI: Foreign currency contracts $ (18) $ — $ — $ (19) $ — $ — Cross-currency swap contracts $ — $ 46 $ — $ — $ (86) $ — (Losses) gains on fair value hedging relationships—interest rate swap agreements: Hedged items (1) $ — $ — $ (34) $ — $ — $ 141 Derivatives designated as hedging instruments $ — $ — $ 55 $ — $ — $ (97) __________ (1) Gains on hedged items do not exactly offset losses on the related designated hedging instruments due to amortization of the cumulative amounts of fair value hedging adjustments included in the carrying amount of the hedged debt for discontinued hedging relationships and the recognition of gains on terminated hedges when the corresponding hedged item was paid down in the period. No portions of our cash flow hedge contracts were excluded from the assessment of hedge effectiveness. As of June 30, 2022, we expected to reclassify $179 million of net gains on our foreign currency and cross-currency swap contracts out of AOCI and into earnings during the next 12 months. Derivatives not designated as hedges To reduce our exposure to foreign currency fluctuations in certain assets and liabilities denominated in foreign currencies, we enter into foreign currency forward contracts that are not designated as hedging transactions. Most of these exposures are hedged on a month-to-month basis. As of June 30, 2022 and December 31, 2021, the total notional amounts of these foreign currency forward contracts were $550 million and $680 million, respectively. Gains and losses recognized in earnings for our derivative instruments not designated as hedging instruments were not material for the three and six months ended June 30, 2022 and 2021. The fair values of derivatives included in the Condensed Consolidated Balance Sheets were as follows (in millions): Derivative assets Derivative liabilities June 30, 2022 Condensed Consolidated Fair values Condensed Consolidated Fair values Derivatives designated as hedging instruments: Foreign currency contracts Other current assets/ Other noncurrent assets $ 413 Accrued liabilities/ Other noncurrent liabilities $ 30 Cross-currency swap contracts Other current assets/ Other noncurrent assets 29 Accrued liabilities/ Other noncurrent liabilities 503 Interest rate swap contracts Other current assets/ Other noncurrent assets — Accrued liabilities/ Other noncurrent liabilities 591 Total derivatives designated as hedging instruments $ 442 $ 1,124 Derivative assets Derivative liabilities December 31, 2021 Condensed Consolidated Fair values Condensed Consolidated Fair values Derivatives designated as hedging instruments: Foreign currency contracts Other current assets/ Other noncurrent assets $ 183 Accrued liabilities/ Other noncurrent liabilities $ 39 Cross-currency swap contracts Other current assets/ Other noncurrent assets 66 Accrued liabilities/ Other noncurrent liabilities 339 Interest rate swap contracts Other current assets/ Other noncurrent assets 16 Accrued liabilities/ Other noncurrent liabilities 156 Total derivatives designated as hedging instruments $ 265 $ 534 Our derivative contracts that were in liability positions as of June 30, 2022, contain certain credit-risk-related contingent provisions that would be triggered if (i) we were to undergo a change in control and (ii) our or the surviving entity’s creditworthiness deteriorates, which is generally defined as having either a credit rating that is below investment grade or a materially weaker creditworthiness after the change in control. If these events were to occur, the counterparties would have the right, but not the obligation, to close the contracts under early-termination provisions. In such circumstances, the counterparties could request immediate settlement of these contracts for amounts that approximate the then current fair values of the contracts. In addition, our derivative contracts are not subject to any type of master netting arrangement, and amounts due either to or from a counterparty under the contracts may be offset against other amounts due either to or from the same counterparty only if an event of default or termination, as defined, were to occur. The cash flow effects of our derivative contracts in the Condensed Consolidated Statements of Cash Flows are included in Net cash provided by operating activities, except for the settlement of notional amounts of cross-currency swaps, which are included in Net cash used in financing activities.

Contingencies and commitments

Contingencies and commitments	6 Months Ended
Contingencies and commitments	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Contingencies and commitments	Contingencies and commitments Contingencies In the ordinary course of business, we are involved in various legal proceedings, government investigations and other matters that are complex in nature and have outcomes that are difficult to predict. See our Annual Report on Form 10-K for the year ended December 31, 2021, Part I, Item 1A. Risk Factors— Our business may be affected by litigation and government investigations . We describe our legal proceedings and other matters that are significant or that we believe could become significant in this footnote; in Note 19, Contingencies and commitments, to the consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2021; and in Note 13, Contingencies and commitments, to the condensed consolidated financial statements in our Quarterly Report on Form 10-Q for the period ended March 31, 2022. We record accruals for loss contingencies to the extent that we conclude it is probable that a liability has been incurred and the amount of the related loss can be reasonably estimated. We evaluate, on a quarterly basis, developments in legal proceedings and other matters that could cause an increase or decrease in the amount of the liability that has been accrued previously. Our legal proceedings involve various aspects of our business and a variety of claims, some of which present novel factual allegations and/or unique legal theories. In each of the matters described in this filing; in Note 19, Contingencies and commitments, to the consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2021; and in Note 13, Contingencies and commitments, to the condensed consolidated financial statements in our Quarterly Report on Form 10-Q for the period ended March 31, 2022, in which we could incur a liability, our opponents seek an award of a not-yet-quantified amount of damages or an amount that is not material. In addition, a number of the matters pending against us are at very early stages of the legal process, which in complex proceedings of the sort we face often extend for several years. As a result, none of the matters described in this filing; in Note 19, Contingencies and commitments, to the consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2021; and in Note 13, Contingencies and commitments, to the condensed consolidated financial statements in our Quarterly Report on Form 10-Q for the period ended March 31, 2022, in which we could incur a liability, have progressed sufficiently through discovery and/or the development of important factual information and legal issues to enable us to estimate a range of possible loss, if any, or such amounts are not material. Although it is not possible to accurately predict or determine the eventual outcomes of these matters, an adverse determination in one or more of these matters currently pending could have a material adverse effect on our consolidated results of operations, financial position or cash flows. Certain recent developments concerning our legal proceedings and other matters are discussed below: ANDA Patent Litigation Otezla ANDA Patent Litigation Amgen Inc. v. Apotex Inc. On June 14, 2022, Amgen filed a lawsuit in the U.S. District Court for the District of New Jersey (the New Jersey District Court) against Apotex Inc. (Apotex) for infringement of U.S. Patent Nos. 7,427,638, 9,872,854 and 10,092,541, which are listed in the Orange Book for Otezla. This lawsuit was based on Apotex’s submission of an ANDA seeking FDA approval to market a generic version of Otezla and seeks an order of the New Jersey District Court making any FDA approval of Apotex’s ANDA effective no earlier than the expiration of the applicable patents. Repatha Patent Litigation Patent Disputes in the International Region On July 21, 2022, Sanofi Biotechnology SAS filed an action against Amgen GmbH and Amgen (Europe) B.V. before the Regional Court of Dusseldorf alleging that the marketing and sale of Repatha infringes European Patent No. 2,756,004 (the EP’004 Patent), seeking infringement damages and injunctive relief. The EP’004 Patent is currently in opposition proceedings, initiated by Amgen and an anonymous third party, before the European Patent Office (EPO). A hearing before the Opposition Division of the EPO was held on June 8 and 9, 2022, and the Opposition Division upheld the validity of the claims at issue with narrowing amendments. The parties are awaiting the Opposition Division’s written opinion. Amgen filed a Notice of Appeal on July 6, 2022. Antitrust Actions Sensipar Antitrust Class Actions On May 11, 2022, the parties filed motions asking permission to seek interlocutory appeal of the U.S. District Court for the District of Delaware’s (the Delaware District Court’s) March 11, 2022 order denying Amgen’s Motion to Dismiss solely with respect to the reverse payment claim and the various state law claims. The plaintiffs did not oppose Amgen’s motion and instead argued all issues should be appealed at this time. Amgen filed its opposition to plaintiffs’ motion on June 10, 2022, and reply briefs were filed on June 24, 2022. HUMIRA ® Biosimilar Antitrust Actions On August 1, 2022, the U.S. Court of Appeals for the Seventh Circuit issued an opinion affirming the June 30, 2020 dismissal with prejudice by the U.S. District Court for the Northern District of Illinois of a consolidated complaint against Amgen along with AbbVie Inc., AbbVie Biotechnology Ltd., Samsung Bioepis Co. and Sandoz Inc. Regeneron Pharmaceuticals, Inc. Antitrust Action On May 27, 2022, Regeneron Pharmaceuticals, Inc. (Regeneron) filed suit against Amgen in the Delaware District Court for federal and state antitrust and unfair competition violations and tortious interference with prospective business relations. Regeneron alleges that Amgen’s sales contracting practices for Repatha, ENBREL and Otezla with key insurers, third-party payors and PBMs have harmed the sales of its product PRALUENT ® and focuses on two primary arguments: that Amgen improperly bundled sales of Repatha with ENBREL, Otezla and potentially other products and sought exclusive or de facto exclusive formulary positioning for Repatha. Amgen’s initial responsive pleading was filed on August 1, 2022. U.S. Tax Litigation Amgen Inc. & Subsidiaries v. Commissioner of Internal Revenue See Note 4, Income taxes, for discussion of the IRS tax dispute and the Company’s petition in the U.S. Tax Court.

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	6 Months Ended
Summary of significant accounting policies (Policies)	Jun. 30, 2022
Accounting Policies [Abstract]
Business	Business Amgen Inc. (including its subsidiaries, referred to as “Amgen,” “the Company,” “we,” “our” or “us”) is a global biotechnology pioneer that discovers, develops, manufactures and delivers innovative human therapeutics. We operate in one business segment: human therapeutics.
Basis of presentation	Basis of presentation The financial information for the three and six months ended June 30, 2022 and 2021, is unaudited but includes all adjustments (consisting of only normal, recurring adjustments unless otherwise indicated), which Amgen considers necessary for a fair presentation of its condensed consolidated results of operations for those periods. Interim results are not necessarily indicative of results for the full fiscal year. The condensed consolidated financial statements should be read in conjunction with our consolidated financial statements and the notes thereto contained in our Annual Report on Form 10-K for the year ended December 31, 2021, and with our condensed consolidated financial statements and the notes thereto contained in our Quarterly Report on Form 10-Q for the period ended March 31, 2022.
Principles of consolidation	Principles of consolidation The condensed consolidated financial statements include the accounts of Amgen as well as its majority-owned subsidiaries. In determining whether we are the primary beneficiary of a variable interest entity, we consider whether we have both the power to direct activities of the entity that most significantly impact the entity’s economic performance and the obligation to absorb losses of or the right to receive benefits from the entity that could potentially be significant to that entity. We do not have any significant interests in any variable interest entities of which we are the primary beneficiary. All material intercompany transactions and balances have been eliminated in consolidation.
Use of estimates	Use of estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results may differ from those estimates.
Property, plant and equipment, net	Property, plant and equipment, net Property, plant and equipment is recorded at historical cost, net of accumulated depreciation and amortization, of $9.0 billion and $8.8 billion as of June 30, 2022 and December 31, 2021, respectively.
Other recent accounting pronouncements	Recent accounting pronouncements In March 2020, the FASB issued a new accounting standard to ease the financial reporting burdens caused by the expected market transition from LIBOR and other interbank offered rates to alternative reference rates, commonly referred to as reference rate reform. The new standard provides temporary optional expedients and exceptions to current GAAP guidance on contract modifications and hedge accounting. Specifically, a modification to transition to an alternative reference rate is treated as an event that does not require contract remeasurement or reassessment of a previous accounting treatment. Moreover, for all types of hedging relationships, an entity is permitted to change the reference rate without having to dedesignate the hedging relationship. The standard is generally effective for all contract modifications made and hedging relationships evaluated through December 31, 2022. In January 2021, the FASB issued a new accounting standard that expanded the scope of the original March 2020 standard to include derivative instruments on discounting transactions. We do not expect the two standards to have a material impact on our condensed consolidated financial statements.

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
Acquisitions (Tables)	Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Business Acquisitions, by Acquisition	The following table summarizes the total consideration and allocated acquisition date fair values of assets acquired and liabilities assumed, inclusive of measurement period adjustments (in millions): Amounts Cash purchase price $ 993 Contingent consideration 299 Total consideration $ 1,292 Cash and cash equivalents $ 100 In-process research and development 991 Finite-lived intangible asset – research and development technology rights 115 Finite-lived intangible assets – licensing rights 41 Goodwill 273 Other assets, net 16 Deferred tax liability (244) Total assets acquired, net $ 1,292

Revenues (Tables)

Revenues (Tables)	6 Months Ended
Revenues (Tables)	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of revenue by product and by geographic area	Revenues were as follows (in millions): Three months ended June 30, 2022 2021 U.S. ROW Total U.S. ROW Total ENBREL $ 1,036 $ 15 $ 1,051 $ 1,113 $ 31 $ 1,144 Prolia 611 311 922 538 276 814 Otezla 487 107 594 423 111 534 XGEVA 391 142 533 355 133 488 Aranesp 132 225 357 135 232 367 Neulasta 263 47 310 434 52 486 Repatha 154 171 325 143 143 286 KYPROLIS 213 104 317 190 90 280 Nplate 156 128 284 136 109 245 Other products 1,003 585 1,588 907 563 1,470 Total product sales (1) $ 4,446 $ 1,835 6,281 $ 4,374 $ 1,740 6,114 Other revenues 313 412 Total revenues $ 6,594 $ 6,526 Six months ended June 30, 2022 2021 U.S. ROW Total U.S. ROW Total ENBREL $ 1,879 $ 34 $ 1,913 $ 2,007 $ 61 $ 2,068 Prolia 1,193 581 1,774 1,039 533 1,572 Otezla 837 208 1,045 789 221 1,010 XGEVA 759 276 1,035 689 267 956 Aranesp 269 446 715 260 462 722 Neulasta 567 91 658 855 113 968 Repatha 319 335 654 282 290 572 KYPROLIS 409 195 604 349 182 531 Nplate 312 238 550 248 224 472 Other products 1,939 1,125 3,064 1,759 1,076 2,835 Total product sales (1) $ 8,483 $ 3,529 12,012 $ 8,277 $ 3,429 11,706 Other revenues 820 721 Total revenues $ 12,832 $ 12,427 ____________

Earnings per share (Tables)

Earnings per share (Tables)	6 Months Ended
Earnings per share (Tables)	Jun. 30, 2022
Earnings Per Share [Abstract]
Computation for basic and diluted earnings per share	The computations for basic and diluted EPS were as follows (in millions, except per-share data): Three months ended Six months ended 2022 2021 2022 2021 Income (Numerator): Net income for basic and diluted EPS $ 1,317 $ 464 $ 2,793 $ 2,110 Shares (Denominator): Weighted-average shares for basic EPS 535 573 541 575 Effect of dilutive securities 2 3 3 3 Weighted-average shares for diluted EPS 537 576 544 578 Basic EPS $ 2.46 $ 0.81 $ 5.16 $ 3.67 Diluted EPS $ 2.45 $ 0.81 $ 5.13 $ 3.65

Investments (Tables)

Investments (Tables)	6 Months Ended
Investments (Tables)	Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Amortized cost, gross unrealized gains, gross unrealized losses and estimated fair values of available-for-sale investments by type of security	The amortized cost, gross unrealized gains, gross unrealized losses and fair values of interest-bearing securities, which are considered available-for-sale, by type of security were as follows (in millions): Types of securities as of June 30, 2022 Amortized Gross Gross Fair U.S. Treasury notes $ — $ — $ — $ — U.S. Treasury bills 1,980 — — 1,980 Money market mutual funds 4,433 — — 4,433 Other short-term interest-bearing securities — — — — Total interest-bearing securities $ 6,413 $ — $ — $ 6,413 Types of securities as of December 31, 2021 Amortized Gross Gross Fair U.S. Treasury notes $ 47 $ — $ — $ 47 U.S. Treasury bills 1,400 — — 1,400 Money market mutual funds 5,856 — — 5,856 Other short-term interest-bearing securities 1 — — 1 Total interest-bearing securities $ 7,304 $ — $ — $ 7,304
Fair values of available-for-sale investments by classification in the Consolidated Balance Sheets	The fair values of interest-bearing securities by location in the Condensed Consolidated Balance Sheets were as follows (in millions): Condensed Consolidated Balance Sheets locations June 30, 2022 December 31, 2021 Cash and cash equivalents $ 4,433 $ 7,256 Marketable securities 1,980 48 Total interest-bearing securities $ 6,413 $ 7,304

Inventories (Tables)

Inventories (Tables)	6 Months Ended
Inventories (Tables)	Jun. 30, 2022
Inventory Disclosure [Abstract]
Inventories	Inventories consisted of the following (in millions): June 30, 2022 December 31, 2021 Raw materials $ 779 $ 647 Work in process 2,763 2,367 Finished goods 1,012 1,072 Total inventories $ 4,554 $ 4,086

Goodwill and other intangible_2

Goodwill and other intangible assets (Tables)	6 Months Ended
Goodwill and other intangible assets (Tables)	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill	The change in the carrying amount of goodwill was as follows (in millions): Six months ended Beginning balance $ 14,890 Adjustments to goodwill resulting from acquisitions and divestitures, net (1) 7 Currency translation adjustment (32) Ending balance $ 14,865 ____________ (1) Composed of adjustments to goodwill resulting from changes to the acquisition date fair values of net assets acquired in the acquisition of Teneobio and the nonstrategic Gensenta divestiture. See Note 2, Acquisitions and divestitures.
Schedule of identifiable intangible assets	Other intangible assets consisted of the following (in millions): June 30, 2022 December 31, 2021 Gross Accumulated Other intangible Gross Accumulated Other intangible Finite-lived intangible assets: Developed-product-technology rights $ 25,537 $ (13,863) $ 11,674 $ 25,561 $ (12,769) $ 12,792 Licensing rights 3,864 (3,050) 814 3,807 (2,973) 834 Marketing-related rights 1,326 (1,125) 201 1,354 (1,112) 242 Research and development technology rights 1,371 (1,153) 218 1,377 (1,133) 244 Total finite-lived intangible assets 32,098 (19,191) 12,907 32,099 (17,987) 14,112 Indefinite-lived intangible assets: In-process research and development 1,020 — 1,020 1,070 — 1,070 Total other intangible assets $ 33,118 $ (19,191) $ 13,927 $ 33,169 $ (17,987) $ 15,182

Financing arrangements (Tables)

Financing arrangements (Tables)	6 Months Ended
Financing arrangements (Tables)	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of borrowings	Our borrowings consisted of the following (in millions): June 30, 2022 December 31, 2021 0.41% CHF700 million bonds due 2023 (0.41% 2023 Swiss franc Bonds) $ 733 $ 767 2.25% notes due 2023 (2.25% 2023 Notes) 750 750 3.625% notes due 2024 (3.625% 2024 Notes) 1,400 1,400 1.90% notes due 2025 (1.90% 2025 Notes) 500 500 3.125% notes due 2025 (3.125% 2025 Notes) 1,000 1,000 2.00% €750 million notes due 2026 (2.00% 2026 euro Notes) 786 853 2.60% notes due 2026 (2.60% 2026 Notes) 1,250 1,250 5.50% £475 million notes due 2026 (5.50% 2026 pound sterling Notes) 579 643 2.20% notes due 2027 (2.20% 2027 Notes) 1,750 1,750 3.20% notes due 2027 (3.20% 2027 Notes) 1,000 1,000 1.65% notes due 2028 (1.65% 2028 Notes) 1,250 1,250 3.00% notes due 2029 (3.00% 2029 Notes) 750 — 4.00% £700 million notes due 2029 (4.00% 2029 pound sterling Notes) 853 947 2.45% notes due 2030 (2.45% 2030 Notes) 1,250 1,250 2.30% notes due 2031 (2.30% 2031 Notes) 1,250 1,250 2.00% notes due 2032 (2.00% 2032 Notes) 1,250 1,250 3.35% notes due 2032 (3.35% 2032 Notes) 1,000 — 6.375% notes due 2037 (6.375% 2037 Notes) 478 478 6.90% notes due 2038 (6.90% 2038 Notes) 254 254 6.40% notes due 2039 (6.40% 2039 Notes) 333 333 3.15% notes due 2040 (3.15% 2040 Notes) 2,000 2,000 5.75% notes due 2040 (5.75% 2040 Notes) 373 373 2.80% notes due 2041 (2.80% 2041 Notes) 1,150 1,150 4.95% notes due 2041 (4.95% 2041 Notes) 600 600 5.15% notes due 2041 (5.15% 2041 Notes) 729 729 5.65% notes due 2042 (5.65% 2042 Notes) 415 415 5.375% notes due 2043 (5.375% 2043 Notes) 185 185 4.40% notes due 2045 (4.40% 2045 Notes) 2,250 2,250 4.563% notes due 2048 (4.563% 2048 Notes) 1,415 1,415 3.375% notes due 2050 (3.375% 2050 Notes) 2,250 2,250 4.663% notes due 2051 (4.663% 2051 Notes) 3,541 3,541 3.00% notes due 2052 (3.00% 2052 Notes) 1,350 1,350 4.20% notes due 2052 (4.20% 2052 Notes) 1,000 — 2.77% notes due 2053 (2.77% 2053 Notes) 940 940 4.40% notes due 2062 (4.40% 2062 Notes) 1,250 — Other notes due 2097 100 100 Unamortized bond discounts, premiums and issuance costs, net (1,245) (1,213) Fair value adjustments (210) 284 Other 13 15 Total carrying value of debt 36,522 33,309 Less current portion (817) (87) Total long-term debt $ 35,705 $ 33,222

Stockholders' equity (Tables)

Stockholders' equity (Tables)	6 Months Ended
Stockholders' equity (Tables)	Jun. 30, 2022
Equity [Abstract]
Summary of activity under our stock repurchase program	Activity under our stock repurchase program, on a trade date basis, was as follows (in millions): 2022 2021 Shares Dollars Shares Dollars First quarter 24.6 $ 5,410 3.7 $ 865 Second quarter — — 6.5 1,592 Total stock repurchases 24.6 $ 5,410 10.2 $ 2,457
Components of accumulated other comprehensive income	The components of AOCI were as follows (in millions): Foreign Cash flow Available-for-sale Other AOCI Balance as of December 31, 2021 $ (844) $ 61 $ — $ (13) $ (796) Foreign currency translation adjustments (51) — — — (51) Unrealized gains — 56 — — 56 Reclassification adjustments to income — 51 — — 51 Income taxes — (23) — — (23) Balance as of March 31, 2022 (895) 145 — (13) (763) Foreign currency translation adjustments (65) — — — (65) Unrealized gains — 67 — — 67 Reclassification adjustments to income — 132 — — 132 Income taxes — (43) — — (43) Balance as of June 30, 2022 $ (960) $ 301 $ — $ (13) $ (672)
Reclassifications out of accumulated other comprehensive income	Reclassifications out of AOCI and into earnings, including related income tax expenses, were as follows (in millions): Three months ended June 30, Components of AOCI 2022 2021 Condensed Consolidated Cash flow hedges: Foreign currency contract gains (losses) $ 53 $ (18) Product sales Cross-currency swap contract (losses) gains (185) 46 Other (expense) income, net (132) 28 Income before income taxes 28 (6) Provision for income taxes $ (104) $ 22 Net income Six months ended June 30, Components of AOCI 2022 2021 Condensed Consolidated Cash flow hedges: Foreign currency contract gains (losses) $ 80 $ (19) Product sales Cross-currency swap contract losses (263) (86) Other (expense) income, net (183) (105) Income before income taxes 39 22 Provision for income taxes $ (144) $ (83) Net income

Fair value measurement (Tables)

Fair value measurement (Tables)	6 Months Ended
Fair value measurement (Tables)	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair value of each major class of financial assets and liabilities measured at fair value on a recurring basis	The fair values of each major class of the Company’s financial assets and liabilities measured at fair value on a recurring basis were as follows (in millions): Quoted prices in Significant Significant Fair value measurement as of June 30, 2022, using: Total Assets: Available-for-sale securities: U.S. Treasury notes $ — $ — $ — $ — U.S. Treasury bills 1,980 — — 1,980 Money market mutual funds 4,433 — — 4,433 Other short-term interest-bearing securities — — — — Equity securities 361 — 131 492 Derivatives: Foreign currency contracts — 413 — 413 Cross-currency swap contracts — 29 — 29 Interest rate swap contracts — — — — Total assets $ 6,774 $ 442 $ 131 $ 7,347 Liabilities: Derivatives: Foreign currency contracts $ — $ 30 $ — $ 30 Cross-currency swap contracts — 503 — 503 Interest rate swap contracts — 591 — 591 Contingent consideration obligations — — 310 310 Total liabilities $ — $ 1,124 $ 310 $ 1,434 Quoted prices in Significant Significant Fair value measurement as of December 31, 2021, using: Total Assets: Available-for-sale securities: U.S. Treasury notes $ 47 $ — $ — $ 47 U.S. Treasury bills 1,400 — — 1,400 Money market mutual funds 5,856 — — 5,856 Other short-term interest-bearing securities — 1 — 1 Equity securities 611 — 220 831 Derivatives: Foreign currency contracts — 183 — 183 Cross-currency swap contracts — 66 — 66 Interest rate swap contracts — 16 — 16 Total assets $ 7,914 $ 266 $ 220 $ 8,400 Liabilities: Derivatives: Foreign currency contracts $ — $ 39 $ — $ 39 Cross-currency swap contracts — 339 — 339 Interest rate swap contracts — 156 — 156 Contingent consideration obligations — — 342 342 Total liabilities $ — $ 534 $ 342 $ 876
Schedule of Business Acquisitions by Acquisition, Contingent Consideration	Changes in the carrying amounts of contingent consideration obligations were as follows (in millions): Three months ended Six months ended 2022 2021 2022 2021 Beginning balance $ 330 $ 39 $ 342 $ 33 Payments (1) (2) (3) (3) Net changes in valuations (19) 11 (29) 18 Ending balance $ 310 $ 48 $ 310 $ 48

Derivative instruments (Tables)

Derivative instruments (Tables)	6 Months Ended
Derivative instruments (Tables)	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of notional amounts and interest rates for cross-currency swaps	The notional amounts and interest rates of our cross-currency swaps as of June 30, 2022, were as follows (notional amounts in millions): Foreign currency U.S. dollars Hedged notes Notional amounts Interest rates Notional amounts Interest rates 0.41% 2023 Swiss franc Bonds CHF 700 0.4 % $ 704 3.4 % 2.00% 2026 euro Notes € 750 2.0 % $ 833 3.9 % 5.50% 2026 pound sterling Notes £ 475 5.5 % $ 747 6.0 % 4.00% 2029 pound sterling Notes £ 700 4.0 % $ 1,111 4.5 %
Unrealized gain (loss) recognized in Other Comprehensive Income for our derivative instruments designated as cash flow hedges	The unrealized gains and losses recognized in AOCI for our derivative instruments designated as cash flow hedges were as follows (in millions): Three months ended Six months ended Derivatives in cash flow hedging relationships 2022 2021 2022 2021 Foreign currency contracts $ 252 $ (46) $ 330 $ 137 Cross-currency swap contracts (185) 15 (207) (60) Total unrealized gains (losses) $ 67 $ (31) $ 123 $ 77
Derivatives in fair value hedging relationships	The hedged liabilities and related cumulative-basis adjustments for fair value hedges of those liabilities were recorded in the Condensed Consolidated Balance Sheets as follows (in millions): Carrying amounts of hedged liabilities (1) Cumulative amounts of fair value hedging adjustments related to the carrying amounts of the hedged liabilities (2) Condensed Consolidated Balance Sheets locations June 30, 2022 December 31, 2021 June 30, 2022 December 31, 2021 Current portion of long-term debt $ 82 $ 85 $ 82 $ 85 Long-term debt $ 6,241 $ 6,729 $ (292) $ 199 ____________ (1) Current portion of long-term debt includes $82 million and $85 million of carrying value with discontinued hedging relationships as of June 30, 2022 and December 31, 2021, respectively. Long-term debt includes $399 million and $440 million of carrying value with discontinued hedging relationships as of June 30, 2022 and December 31, 2021, respectively. (2) Current portion of long-term debt includes $82 million and $85 million of hedging adjustments on discontinued hedging relationships as of June 30, 2022 and December 31, 2021, respectively. Long-term debt includes $299 million and $340 million of hedging adjustments on discontinued hedging relationships as of June 30, 2022 and December 31, 2021, respectively.
Summary of amounts of income and expense line items	The following tables summarize the amounts recorded in income and expense line items and the effects thereon from fair value and cash flow hedging, including discontinued hedging relationships (in millions): Three months ended June 30, 2022 Six months ended June 30, 2022 Product sales Other (expense) income, net Interest expense, net Product sales Other (expense) income, net Interest expense, net Total amounts recorded in income and (expense) line items presented in the Condensed Consolidated Statements of Income $ 6,281 $ (317) $ (328) $ 12,012 $ (847) $ (623) The effects of cash flow and fair value hedging: Gains (losses) on cash flow hedging relationships reclassified out of AOCI: Foreign currency contracts $ 53 $ — $ — $ 80 $ — $ — Cross-currency swap contracts $ — $ (185) $ — $ — $ (263) $ — Gains (losses) on fair value hedging relationships—interest rate swap agreements: Hedged items (1) $ — $ — $ 157 $ — $ — $ 494 Derivatives designated as hedging instruments $ — $ — $ (135) $ — $ — $ (450) Three months ended June 30, 2021 Six months ended June 30, 2021 Product sales Other (expense) income, net Interest expense, net Product sales Other (expense) income, net Interest expense, net Total amounts recorded in income and (expense) line items presented in the Condensed Consolidated Statements of Income $ 6,114 $ 11 $ (281) $ 11,706 $ 24 $ (566) The effects of cash flow and fair value hedging: (Losses) gains on cash flow hedging relationships reclassified out of AOCI: Foreign currency contracts $ (18) $ — $ — $ (19) $ — $ — Cross-currency swap contracts $ — $ 46 $ — $ — $ (86) $ — (Losses) gains on fair value hedging relationships—interest rate swap agreements: Hedged items (1) $ — $ — $ (34) $ — $ — $ 141 Derivatives designated as hedging instruments $ — $ — $ 55 $ — $ — $ (97) __________ (1) Gains on hedged items do not exactly offset losses on the related designated hedging instruments due to amortization of the cumulative amounts of fair value hedging adjustments included in the carrying amount of the hedged debt for discontinued hedging relationships and the recognition of gains on terminated hedges when the corresponding hedged item was paid down in the period.
Fair values of derivatives included in the Condensed Consolidated Balance Sheets	The fair values of derivatives included in the Condensed Consolidated Balance Sheets were as follows (in millions): Derivative assets Derivative liabilities June 30, 2022 Condensed Consolidated Fair values Condensed Consolidated Fair values Derivatives designated as hedging instruments: Foreign currency contracts Other current assets/ Other noncurrent assets $ 413 Accrued liabilities/ Other noncurrent liabilities $ 30 Cross-currency swap contracts Other current assets/ Other noncurrent assets 29 Accrued liabilities/ Other noncurrent liabilities 503 Interest rate swap contracts Other current assets/ Other noncurrent assets — Accrued liabilities/ Other noncurrent liabilities 591 Total derivatives designated as hedging instruments $ 442 $ 1,124 Derivative assets Derivative liabilities December 31, 2021 Condensed Consolidated Fair values Condensed Consolidated Fair values Derivatives designated as hedging instruments: Foreign currency contracts Other current assets/ Other noncurrent assets $ 183 Accrued liabilities/ Other noncurrent liabilities $ 39 Cross-currency swap contracts Other current assets/ Other noncurrent assets 66 Accrued liabilities/ Other noncurrent liabilities 339 Interest rate swap contracts Other current assets/ Other noncurrent assets 16 Accrued liabilities/ Other noncurrent liabilities 156 Total derivatives designated as hedging instruments $ 265 $ 534

Summary of significant accoun_3

Summary of significant accounting policies (Details) $ in Billions	6 Months Ended
	Jun. 30, 2022 USD ($) segment	Dec. 31, 2021 USD ($)
Accounting Policies [Abstract]
Number of operating segments \| segment	1
Accumulated depreciation and amortization on property, plant and equipment \| $	$ 9	$ 8.8

Acquisitions - Aggregate Consid

Acquisitions - Aggregate Consideration Paid (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill	$ 14,865	$ 14,890
Teneobio
Business Acquisition [Line Items]
Cash paid	993
Contingent consideration obligation for acquisition	299
Business asset acquisition, consideration transferred	1,292
Fair value of assets acquired, cash	100
IPR&D	991
Goodwill	273
Other assets, net	16
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities	(244)
Total assets acquired, net	1,292
Teneobio \| R & D Technology rights
Business Acquisition [Line Items]
Fair value of assets acquired, licensing rights	115
Teneobio \| Licensing rights
Business Acquisition [Line Items]
Fair value of assets acquired, licensing rights	$ 41

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($) $ in Millions		3 Months Ended			6 Months Ended
Acquisitions - Narrative (Details) - USD ($) $ in Millions	Apr. 16, 2021	Sep. 30, 2022	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Business Acquisition [Line Items]
Net increase in goodwill					$ 7
Goodwill			$ 14,865		14,865		$ 14,890
Loss on divestiture					560	$ 0
Payments to Acquire Businesses, Net of Cash Acquired					0	1,626
Acquired in-process research and development			0	$ 1,505	0	$ 1,505
Gensenta Ilac Sanayi vs Ticaret
Business Acquisition [Line Items]
Disposal Group, Including Discontinued Operation, Assets			80		80
Disposal Group, Including Discontinued Operation, Accrued Liabilities			20		20
Disposal Group, Including Discontinued Operation, Assets, Current			100		100
Gensenta Ilac Sanayi vs Ticaret \| Other Operating Income (Expense)
Business Acquisition [Line Items]
Loss on divestiture			560
Gensenta Ilac Sanayi vs Ticaret \| Forecast [Member]
Business Acquisition [Line Items]
Proceeds from Divestiture of Businesses and Interests in Affiliates		$ 135
Teneobio
Business Acquisition [Line Items]
Net increase in goodwill					22
Cash paid					993
Maximum additional consideration due contingent on certain milestones			1,600		1,600
Contingent consideration obligation for acquisition					299
Acquired in-process research and development			991		991
Deferred tax liability			244		244
Goodwill			273		273
Teneobio \| R & D Technology rights
Business Acquisition [Line Items]
Value of intangible assets acquired					$ 115
Weighted average period of amortization					10 years
Teneobio \| Licensing rights
Business Acquisition [Line Items]
Value of intangible assets acquired					$ 41
Teneobio \| In-process Research and Development \| AMG 340
Business Acquisition [Line Items]
Acquired in-process research and development			$ 784		$ 784
Five Prime Therapeutics, Inc.
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired	$ 1,600
Acquired in-process research and development	1,500
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets	177
Other liabilities	$ 47

Revenues (Details)

Revenues (Details) $ in Millions	3 Months Ended		6 Months Ended
Revenues (Details) $ in Millions	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) segment	Jun. 30, 2021 USD ($)
Revenue from Contract with Customer [Abstract]
Number of operating segments \| segment			1
Revenue from External Customer [Line Items]
Total revenues	$ 6,594	$ 6,526	$ 12,832	$ 12,427
Product sales [Member]
Revenue from External Customer [Line Items]
Total revenues	6,281	6,114	12,012	11,706
Product sales [Member] \| US [Member]
Revenue from External Customer [Line Items]
Total revenues	4,446	4,374	8,483	8,277
Product sales [Member] \| ROW [Member]
Revenue from External Customer [Line Items]
Total revenues	1,835	1,740	3,529	3,429
Enbrel® (etanercept) [Member]
Revenue from External Customer [Line Items]
Total revenues	1,051	1,144	1,913	2,068
Enbrel® (etanercept) [Member] \| US [Member]
Revenue from External Customer [Line Items]
Total revenues	1,036	1,113	1,879	2,007
Enbrel® (etanercept) [Member] \| ROW [Member]
Revenue from External Customer [Line Items]
Total revenues	15	31	34	61
Prolia® (denosumab) [Member]
Revenue from External Customer [Line Items]
Total revenues	922	814	1,774	1,572
Prolia® (denosumab) [Member] \| US [Member]
Revenue from External Customer [Line Items]
Total revenues	611	538	1,193	1,039
Prolia® (denosumab) [Member] \| ROW [Member]
Revenue from External Customer [Line Items]
Total revenues	311	276	581	533
Otezla (apremilast) [Member]
Revenue from External Customer [Line Items]
Total revenues	594	534	1,045	1,010
Otezla (apremilast) [Member] \| US [Member]
Revenue from External Customer [Line Items]
Total revenues	487	423	837	789
Otezla (apremilast) [Member] \| ROW [Member]
Revenue from External Customer [Line Items]
Total revenues	107	111	208	221
XGEVA® (denosumab) [Member]
Revenue from External Customer [Line Items]
Total revenues	533	488	1,035	956
XGEVA® (denosumab) [Member] \| US [Member]
Revenue from External Customer [Line Items]
Total revenues	391	355	759	689
XGEVA® (denosumab) [Member] \| ROW [Member]
Revenue from External Customer [Line Items]
Total revenues	142	133	276	267
Aranesp® (darbepoetin alfa) [Member]
Revenue from External Customer [Line Items]
Total revenues	357	367	715	722
Aranesp® (darbepoetin alfa) [Member] \| US [Member]
Revenue from External Customer [Line Items]
Total revenues	132	135	269	260
Aranesp® (darbepoetin alfa) [Member] \| ROW [Member]
Revenue from External Customer [Line Items]
Total revenues	225	232	446	462
Neulasta® (pegfilgrastim) [Member]
Revenue from External Customer [Line Items]
Total revenues	310	486	658	968
Neulasta® (pegfilgrastim) [Member] \| US [Member]
Revenue from External Customer [Line Items]
Total revenues	263	434	567	855
Neulasta® (pegfilgrastim) [Member] \| ROW [Member]
Revenue from External Customer [Line Items]
Total revenues	47	52	91	113
Repatha (evolocumab) [Member]
Revenue from External Customer [Line Items]
Total revenues	325	286	654	572
Repatha (evolocumab) [Member] \| US [Member]
Revenue from External Customer [Line Items]
Total revenues	154	143	319	282
Repatha (evolocumab) [Member] \| ROW [Member]
Revenue from External Customer [Line Items]
Total revenues	171	143	335	290
KYPROLIS® (carfilzomib) [Member]
Revenue from External Customer [Line Items]
Total revenues	317	280	604	531
KYPROLIS® (carfilzomib) [Member] \| US [Member]
Revenue from External Customer [Line Items]
Total revenues	213	190	409	349
KYPROLIS® (carfilzomib) [Member] \| ROW [Member]
Revenue from External Customer [Line Items]
Total revenues	104	90	195	182
Nplate [Member]
Revenue from External Customer [Line Items]
Total revenues	284	245	550	472
Nplate [Member] \| US [Member]
Revenue from External Customer [Line Items]
Total revenues	156	136	312	248
Nplate [Member] \| ROW [Member]
Revenue from External Customer [Line Items]
Total revenues	128	109	238	224
Other products [Member]
Revenue from External Customer [Line Items]
Total revenues	1,588	1,470	3,064	2,835
Other products [Member] \| US [Member]
Revenue from External Customer [Line Items]
Total revenues	1,003	907	1,939	1,759
Other products [Member] \| ROW [Member]
Revenue from External Customer [Line Items]
Total revenues	585	563	1,125	1,076
Other revenues [Member]
Revenue from External Customer [Line Items]
Total revenues	$ 313	$ 412	$ 820	$ 721

Income taxes (Details)

Income taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Income taxes (Details) - USD ($) $ in Millions	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Apr. 28, 2022	May 31, 2021
Income Tax Examination [Line Items]
Effective income tax rate	14%	16.80%	12.90%	12.60%
Increase in unrecognized tax benefits resulting from tax positions taken during the current period	$ 50		$ 95
Domestic Tax Authority
Income Tax Examination [Line Items]
Proposed additional income tax						$ 3,600
Repatriation tax on proposed additional tax						$ 900
Proposed additional income tax 2013-2015					$ 5,100
Penalties on proposed additional income tax 2013-2015					2,000
Repatriation tax on proposed additional tax 2013-2015					$ 2,200

Earnings per share (Details)

Earnings per share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Income (Numerator):
Net income for basic and diluted EPS	$ 1,317	$ 1,476	$ 464	$ 1,646	$ 2,793	$ 2,110
Shares (Denominator):
Weighted-average shares for basic EPS (in shares)	535		573		541	575
Effect of dilutive securities (in shares)	2		3		3	3
Weighted-average shares for diluted EPS (in shares)	537		576		544	578
Basic EPS (in usd per share)	$ 2.46		$ 0.81		$ 5.16	$ 3.67
Diluted EPS (in usd per share)	$ 2.45		$ 0.81		$ 5.13	$ 3.65

Investments (Details)

Investments (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Amortized cost	$ 6,413	$ 7,304
Gross unrealized gains	0	0
Gross unrealized losses	0	0
Fair values	6,413	7,304
U.S. Treasury notes [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized cost	0	47
Gross unrealized gains	0	0
Gross unrealized losses	0	0
Fair values	0	47
U.S. Treasury bills [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized cost	1,980	1,400
Gross unrealized gains	0	0
Gross unrealized losses	0	0
Fair values	1,980	1,400
Money market mutual funds [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized cost	4,433	5,856
Gross unrealized gains	0	0
Gross unrealized losses	0	0
Fair values	4,433	5,856
Other short-term interest-bearing securities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized cost	0	1
Gross unrealized gains	0	0
Gross unrealized losses	0	0
Fair values	$ 0	$ 1

Investments (Fair Values by Cla

Investments (Fair Values by Classification) (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Fair values of available-for-sale investments by classification in the Consolidated Balance Sheets
Marketable securities	$ 1,980	$ 48
Total interest-bearing securities	6,413	7,304
Available-for-sale investments [Member]
Fair values of available-for-sale investments by classification in the Consolidated Balance Sheets
Cash and cash equivalents	4,433	7,256
Marketable securities	1,980	48
Total interest-bearing securities	$ 6,413	$ 7,304

Investments (Available-for-sale

Investments (Available-for-sale Investments) (Details Textual) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Cash	$ 770	$ 733
Debt Securities, Available-for-sale [Line Items]
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$ 5,203	$ 7,989	$ 6,630	$ 6,266

Investments (Fair Values by Con

Investments (Fair Values by Contractual Maturity) (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Total interest-bearing securities	$ 6,413	$ 7,304

Investments (Equity Securities)

Investments (Equity Securities) (Details Textual) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Equity securities	$ 492		$ 492		$ 831
Equity Securities, FV-NI, Unrealized Gain (Loss)	(106)	$ 25	(276)	$ (31)
Equity securities without readily determinable fair value	280		280		262
Fair Value, Inputs, Level 1 [Member]
Debt Securities, Available-for-sale [Line Items]
Equity securities	$ 361		$ 361		$ 611

Investments (BeiGene) (Details)

Investments (BeiGene) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Investments (BeiGene) (Details) - USD ($) $ in Millions	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Net Investment Income [Line Items]
Income (Loss) from Equity Method Investments			$ (497)	$ 36
Collaborative arrangement with BeiGene, Ltd. [Member]
Net Investment Income [Line Items]
Ownership percentage	18.20%		18.20%		18.40%
Income (Loss) from Equity Method Investments	$ (80)	$ 14	$ (188)	(83)
Equity Method Investment, Amortization of Difference Between Carrying Amount and Underlying Equity	48	$ 42	95	$ 84
Carrying value of equity method investment	2,500		2,500		$ 2,800
Equity Method Investments,Quoted Market Price	$ 3,100		$ 3,100		$ 5,100

Investments (Neumora Therapeuti

Investments (Neumora Therapeutics, Inc.) (Details) - Neumora Therapeutics, Inc. [Member] - USD ($) $ in Millions		3 Months Ended	6 Months Ended
	Sep. 30, 2021	Jun. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Net Investment Income [Line Items]
Ownership percentage	25.90%	25.70%	25.70%	25.90%
Equity Method Investment, Aggregate Cost	$ 257
Payments to Acquire Equity Method Investments	100
Noncash or Part Noncash Acquisition, Investments Acquired	$ 157
Equity Method Investments, Fair Value Disclosure		$ 131	$ 131	$ 220
Equity method investment, change in carrying value		$ 39	$ 89

Investments Investments (Limite

Investments Investments (Limited Partnership Investments) (Details) - Fair Value Measured at Net Asset Value Per Share [Member] - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Net Investment Income [Line Items]
Investment Company, Financial Support to Investee Contractually Required, Amount	$ 209		$ 209
Limited Partnership [Member]
Net Investment Income [Line Items]
Alternative investments	338		338		$ 573
Net gains (losses) from limited partnership investments	$ (60)	$ (43)	$ (220)	$ 165

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 779	$ 647
Work in process	2,763	2,367
Finished goods	1,012	1,072
Total inventories	$ 4,554	$ 4,086

Goodwill and other intangible_3

Goodwill and other intangible assets (Goodwill Roll Forward) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 14,890
Net increase in goodwill	7
Currency translation adjustment	(32)
Ending balance	$ 14,865

Goodwill and other intangible_4

Goodwill and other intangible assets (Identifiable Intangible Assets) (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross carrying amounts	$ 32,098	$ 32,099
Accumulated amortization	(19,191)	(17,987)
Other intangible assets, net	12,907	14,112
Gross carrying amount	33,118	33,169
Accumulated amortization	(19,191)	(17,987)
Intangible assets, net	13,927	15,182
In-process Research and Development
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	1,020	1,070
Developed-Product-Technology Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amounts	25,537	25,561
Accumulated amortization	(13,863)	(12,769)
Other intangible assets, net	11,674	12,792
Licensing rights
Finite-Lived Intangible Assets [Line Items]
Gross carrying amounts	3,864	3,807
Accumulated amortization	(3,050)	(2,973)
Other intangible assets, net	814	834
Marketing-Related Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amounts	1,326	1,354
Accumulated amortization	(1,125)	(1,112)
Other intangible assets, net	201	242
Research and Development Technology Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amounts	1,371	1,377
Accumulated amortization	(1,153)	(1,133)
Other intangible assets, net	$ 218	$ 244

Goodwill and other intangible_5

Goodwill and other intangible assets (Details Textual) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization charges associated with finite-lived intangible assets	$ 629	$ 652	$ 1,300	$ 1,300
Total estimated amortization of finite-lived intangible assets for the six months ending December 31, 2022	1,300		1,300
Total estimated amortization of finite-lived intangible assets for 2023	2,500		2,500
Total estimated amortization of finite-lived intangible assets for 2024	2,500		2,500
Total estimated amortization of finite-lived intangible assets for 2025	2,400		2,400
Total estimated amortization of finite-lived intangible assets for 2026	1,700		1,700
Total estimated amortization of finite-lived intangible assets for 2027	$ 1,800		$ 1,800

Financing arrangements (Princip

Financing arrangements (Principal Amounts and Carrying Value of Long-term Borrowings) (Details) $ in Millions	Jun. 30, 2022 USD ($)	Jun. 30, 2022 CHF (SFr)	Jun. 30, 2022 EUR (€)	Jun. 30, 2022 GBP (£)	Mar. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Debt Instrument [Line Items]
Unamortized bond discounts, premiums and issuance costs, net	$ (1,245)					$ (1,213)
Fair value adjustments	(210)					284
Other	13					15
Total carrying value of debt	36,522					33,309
Less current portion	(817)					(87)
Total long-term debt	$ 35,705					33,222
4.20% 2052 Notes [Member]
Debt Instrument [Line Items]
Face amount					$ 1,000
Notes [Member]
Debt Instrument [Line Items]
Face amount					$ 4,000
Notes [Member] \| 0.41% CHF700 million bonds due 2023 (0.41% 2023 Swiss franc Bonds) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	0.41%	0.41%	0.41%	0.41%
Long-term debt, gross	$ 733					767
Face amount \| SFr		SFr 700,000,000
Notes [Member] \| 2.25% notes due 2023 (2.25% 2023 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	2.25%	2.25%	2.25%	2.25%
Long-term debt, gross	$ 750					750
Notes [Member] \| 3.625% notes due 2024 (3.625% 2024 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	3.625%	3.625%	3.625%	3.625%
Long-term debt, gross	$ 1,400					1,400
Notes [Member] \| 1.90% notes due 2025 (1.90% 2025 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	1.90%	1.90%	1.90%	1.90%
Long-term debt, gross	$ 500					500
Notes [Member] \| 3.125% notes due 2025 (3.125% 2025 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	3.125%	3.125%	3.125%	3.125%
Long-term debt, gross	$ 1,000					1,000
Notes [Member] \| 2.00% €750 million notes due 2026 (2.00% 2026 euro Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	2%	2%	2%	2%
Long-term debt, gross	$ 786					853
Face amount \| €			€ 750,000,000
Notes [Member] \| 2.60% notes due 2026 (2.60% 2026 notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	2.60%	2.60%	2.60%	2.60%
Long-term debt, gross	$ 1,250					1,250
Notes [Member] \| 5.50% £475 million notes due 2026 (5.50% 2026 pound sterling Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	5.50%	5.50%	5.50%	5.50%
Long-term debt, gross	$ 579					643
Face amount \| £				£ 475,000,000
Notes [Member] \| 2.20% notes due 2027 (2.20% 2027 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	2.20%	2.20%	2.20%	2.20%
Long-term debt, gross	$ 1,750					1,750
Notes [Member] \| 3.20% notes due 2027 (3.20% 2027 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	3.20%	3.20%	3.20%	3.20%
Long-term debt, gross	$ 1,000					1,000
Notes [Member] \| 1.65% notes due 2028 (1.65% 2028 Notes) [Member}
Debt Instrument [Line Items]
Interest rate, stated percentage	1.65%	1.65%	1.65%	1.65%
Long-term debt, gross	$ 1,250					1,250
Notes [Member] \| 3.00% 2029 Notes [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	3%	3%	3%	3%	3%
Long-term debt, gross	$ 750					0
Face amount					$ 750
Notes [Member] \| 4.00% £700 million notes due 2029 (4.00% 2029 pound sterling Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	4%	4%	4%	4%
Long-term debt, gross	$ 853					947
Face amount \| £				£ 700,000,000
Notes [Member] \| 2.45% notes due 2030 (2.45% 2030 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	2.45%	2.45%	2.45%	2.45%
Long-term debt, gross	$ 1,250					1,250
Notes [Member] \| 2.30% notes due 2031 (2.30% 2031 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	2.30%	2.30%	2.30%	2.30%
Long-term debt, gross	$ 1,250					1,250
Notes [Member] \| 2.00% notes due 2032 (2.00% 2032 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	2%	2%	2%	2%
Long-term debt, gross	$ 1,250					1,250
Notes [Member] \| 3.35% 2032 Notes [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	3.35%	3.35%	3.35%	3.35%	3.35%
Long-term debt, gross	$ 1,000
Face amount					$ 1,000
Notes [Member] \| 6.375% notes due 2037 (6.375% 2037 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	6.375%	6.375%	6.375%	6.375%
Long-term debt, gross	$ 478					478
Notes [Member] \| 6.90% notes due 2038 (6.90% 2038 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	6.90%	6.90%	6.90%	6.90%
Long-term debt, gross	$ 254					254
Notes [Member] \| 6.40% notes due 2039 (6.40% 2039 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	6.40%	6.40%	6.40%	6.40%
Long-term debt, gross	$ 333					333
Notes [Member] \| 3.15% notes due 2040 (3.15% 2040 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	3.15%	3.15%	3.15%	3.15%
Long-term debt, gross	$ 2,000					2,000
Notes [Member] \| 5.75% notes due 2040 (5.75% 2040 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	5.75%	5.75%	5.75%	5.75%
Long-term debt, gross	$ 373					373
Notes [Member] \| 2.80% notes due 2041 (2.80% 2041 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	2.80%	2.80%	2.80%	2.80%
Long-term debt, gross	$ 1,150					1,150
Notes [Member] \| 4.95% notes due 2041 (4.95% 2041 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	4.95%	4.95%	4.95%	4.95%
Long-term debt, gross	$ 600					600
Notes [Member] \| 5.15% notes due 2041 (5.15% 2041 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	5.15%	5.15%	5.15%	5.15%
Long-term debt, gross	$ 729					729
Notes [Member] \| 5.65% notes due 2042 (5.65% 2042 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	5.65%	5.65%	5.65%	5.65%
Long-term debt, gross	$ 415					415
Notes [Member] \| 5.375% notes due 2043 (5.375% 2043 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	5.375%	5.375%	5.375%	5.375%
Long-term debt, gross	$ 185					185
Notes [Member] \| 4.40% notes due 2045 (4.40% 2045 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	4.40%	4.40%	4.40%	4.40%
Long-term debt, gross	$ 2,250					2,250
Notes [Member] \| 4.563% notes due 2048 (4.563% 2048 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	4.563%	4.563%	4.563%	4.563%
Long-term debt, gross	$ 1,415					1,415
Notes [Member] \| 3.375% notes due 2050 (3.375% 2050 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	3.375%	3.375%	3.375%	3.375%
Long-term debt, gross	$ 2,250					2,250
Notes [Member] \| 4.663% notes due 2051 (4.663% 2051 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	4.663%	4.663%	4.663%	4.663%
Long-term debt, gross	$ 3,541					3,541
Notes [Member] \| 3.00% notes due 2052 (3.00% 2052 Notes)
Debt Instrument [Line Items]
Interest rate, stated percentage	3%	3%	3%	3%
Long-term debt, gross	$ 1,350					1,350
Notes [Member] \| 4.20% 2052 Notes [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	4.20%	4.20%	4.20%	4.20%	4.20%
Long-term debt, gross	$ 1,000					0
Notes [Member] \| Two Point Seven Seven Percent Notes Due Two Zero Five Three
Debt Instrument [Line Items]
Interest rate, stated percentage	2.77%	2.77%	2.77%	2.77%
Long-term debt, gross	$ 940					940
Notes [Member] \| 4.40% 2062 Notes [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	4.40%	4.40%	4.40%	4.40%	4.40%
Long-term debt, gross	$ 1,250					0
Face amount					$ 1,250
Notes [Member] \| Other notes due 2097 [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 100					$ 100

Financing arrangements (Details

Financing arrangements (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Jun. 30, 2022
4.20% 2052 Notes [Member]
Debt Instrument [Line Items]
Face amount	$ 1,000
Notes [Member]
Debt Instrument [Line Items]
Face amount	$ 4,000
Notes [Member] \| 4.563% notes due 2048 (4.563% 2048 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage		4.563%
Effective interest rate		6.30%
Notes [Member] \| 4.663% notes due 2051 (4.663% 2051 Notes) [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage		4.663%
Effective interest rate		5.60%
Notes [Member] \| Two Point Seven Seven Percent Notes Due Two Zero Five Three
Debt Instrument [Line Items]
Interest rate, stated percentage		2.77%
Effective interest rate		5.20%
Notes [Member] \| 3.00% 2029 Notes [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	3%	3%
Face amount	$ 750
Percentage of Prinicipal Amount of Notes that may be Paid Upon Occurance of Change in Control Triggering Event	101%
Notes [Member] \| 3.35% 2032 Notes [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	3.35%	3.35%
Face amount	$ 1,000
Percentage of Prinicipal Amount of Notes that may be Paid Upon Occurance of Change in Control Triggering Event	101%
Notes [Member] \| 4.20% 2052 Notes [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	4.20%	4.20%
Percentage of Prinicipal Amount of Notes that may be Paid Upon Occurance of Change in Control Triggering Event	101%
Notes [Member] \| 4.40% 2062 Notes [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	4.40%	4.40%
Face amount	$ 1,250
Percentage of Prinicipal Amount of Notes that may be Paid Upon Occurance of Change in Control Triggering Event	101%
Minimum [Member] \| Debt Securities Payable [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Period without Payment of Make Whole Amount	2 months
Maximum [Member] \| Debt Securities Payable [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Period without Payment of Make Whole Amount	6 months

Stockholders' equity (Share Rep

Stockholders' equity (Share Repurchase Program) (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Equity [Abstract]
Stock repurchased, Shares	0	24.6	6.5	3.7	24.6	10.2
Stock repurchased	$ 0	$ 5,410	$ 1,592	$ 865	$ 5,410	$ 2,457

Stockholders' equity (Details T

Stockholders' equity (Details Textual) (Details) $ / shares in Units, shares in Millions, $ in Millions				1 Months Ended			3 Months Ended				6 Months Ended
	Sep. 08, 2022 $ / shares	Aug. 03, 2022 $ / shares	Feb. 25, 2022 USD ($) shares	Jun. 30, 2022 USD ($) $ / shares	Mar. 31, 2022 $ / shares	Dec. 31, 2021 $ / shares	Jun. 30, 2022 USD ($) shares	Mar. 31, 2022 USD ($) $ / shares shares	Jun. 30, 2021 USD ($) shares	Mar. 31, 2021 USD ($) $ / shares shares	Jun. 30, 2022 USD ($) shares	Jun. 30, 2021 USD ($) shares	Feb. 24, 2022 financial_institution
Class of Stock [Line Items]
Stock repurchased, Shares \| shares							0	24.6	6.5	3.7	24.6	10.2
Stock repurchased							$ 0	$ 5,410	$ 1,592	$ 865	$ 5,410	$ 2,457
Repurchases of common stock								$ 6,310	1,592	$ 865
Amount available for stock repurchases under a board approved stock repurchase plan				$ 4,600			$ 4,600				$ 4,600
Dividends declared per share (in usd per share) \| $ / shares					$ 1.94	$ 1.94		$ 1.94		$ 1.76
Dividends paid per share (in usd per share) \| $ / shares				$ 1.94	$ 1.94
Subsequent Event [Member]
Class of Stock [Line Items]
Dividends declared per share (in usd per share) \| $ / shares		$ 1.94
Accumulated deficit [Member]
Class of Stock [Line Items]
Repurchases of common stock								$ 5,410	$ 1,592	$ 865
Common stock and additional paid-in capital [Member]
Class of Stock [Line Items]
Repurchases of common stock								$ 900
Accelerated stock repurchase agreement
Class of Stock [Line Items]
Stock repurchased, Shares \| shares			23.3
Stock repurchased			$ 6,000
Number of Third-Party Financial Institutions \| financial_institution													3
Accelerated stock repurchase agreement \| Accumulated deficit [Member]
Class of Stock [Line Items]
Repurchases of common stock			5,100
Accelerated stock repurchase agreement \| Common stock and additional paid-in capital [Member]
Class of Stock [Line Items]
Repurchases of common stock			$ 900
Forecast [Member]
Class of Stock [Line Items]
Dividends paid per share (in usd per share) \| $ / shares	$ 1.94

Stockholders' equity (Component

Stockholders' equity (Components of AOCI) (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Increase (Decrease) in AOCI [Roll Forward]
Balance as of beginning of period	$ 916	$ 6,700	$ 9,334	$ 6,700	$ 9,409
Foreign currency translation adjustments	(65)		14	(116)	(25)
Balance as of end of period	2,419	916	8,247	2,419	8,247
Foreign currency translation [Member]
Increase (Decrease) in AOCI [Roll Forward]
Balance as of beginning of period	(895)	(844)		(844)
Foreign currency translation adjustments	(65)	(51)
Income taxes	0	0
Balance as of end of period	(960)	(895)		(960)
Cash flow hedges [Member]
Increase (Decrease) in AOCI [Roll Forward]
Balance as of beginning of period	145	61		61
Unrealized gains	67	56
Reclassification adjustments to income	132	51
Income taxes	(43)	(23)
Balance as of end of period	301	145		301
Available-for-sale securities [Member]
Increase (Decrease) in AOCI [Roll Forward]
Balance as of beginning of period	0	0		0
Unrealized gains	0	0
Reclassification adjustments to income	0	0
Income taxes	0	0
Balance as of end of period	0	0		0
Other [Member]
Increase (Decrease) in AOCI [Roll Forward]
Balance as of beginning of period	(13)	(13)		(13)
Unrealized gains	0	0
Balance as of end of period	(13)	(13)		(13)
AOCI [Member]
Increase (Decrease) in AOCI [Roll Forward]
Balance as of beginning of period	(763)	(796)	(833)	(796)	(985)
Foreign currency translation adjustments	(65)	(51)
Unrealized gains	67	56
Reclassification adjustments to income	132	51
Income taxes	(43)	(23)
Balance as of end of period	$ (672)	$ (763)	$ (868)	$ (672)	$ (868)

Stockholders' equity (Reclassif

Stockholders' equity (Reclassifications out of AOCI) (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Total revenues	$ 6,594		$ 6,526		$ 12,832	$ 12,427
Other (expense) income, net	(317)		11		(847)	24
Income before income taxes	1,531		558		3,206	2,415
Provision for income taxes	(214)		(94)		(413)	(305)
Net income	1,317	$ 1,476	464	$ 1,646	2,793	2,110
Product sales [Member]
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Total revenues	6,281		6,114		12,012	11,706
Reclassification out of Accumulated Other Comprehensive Income [Member] \| Cash flow hedges [Member]
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes	(132)		28		(183)	(105)
Provision for income taxes	28		(6)		39	22
Net income	(104)		22		(144)	(83)
Reclassification out of Accumulated Other Comprehensive Income [Member] \| Foreign currency contract [Member] \| Cash flow hedges [Member] \| Product sales [Member]
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Total revenues	53		(18)		80	(19)
Reclassification out of Accumulated Other Comprehensive Income [Member] \| Cross-currency swap contract [Member] \| Cash flow hedges [Member]
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Other (expense) income, net	(185)		46		(263)	(86)
Reclassification out of Accumulated Other Comprehensive Income [Member] \| Cash flow hedges [Member] \| Foreign currency contract [Member] \| Cash flow hedges [Member] \| Product sales [Member]
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Total revenues	53		(18)		80	(19)
Reclassification out of Accumulated Other Comprehensive Income [Member] \| Cash flow hedges [Member] \| Cross-currency swap contract [Member] \| Cash flow hedges [Member]
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Other (expense) income, net	$ (185)		$ 46		$ (263)	$ (86)

Fair value measurement (Details

Fair value measurement (Details) - USD ($) $ in Millions	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Assets:
Interest-bearing securities	$ 6,413		$ 7,304
Equity securities	492		831
Derivatives:
Total assets	7,347		8,400
Derivatives:
Contingent consideration obligations	310	$ 330	342	$ 48	$ 39	$ 33
Total liabilities	1,434		876
Foreign currency contracts [Member]
Derivatives:
Foreign currency and cross-currency swap contracts	413		183
Derivatives:
Foreign currency and cross-currency swap contracts	30		39
Cross-currency swap contracts [Member]
Derivatives:
Foreign currency and cross-currency swap contracts	29		66
Derivatives:
Foreign currency and cross-currency swap contracts	503		339
Interest rate swap contracts [Member]
Derivatives:
Interest rate swap contracts	0		16
Derivatives:
Interest rate swap contracts	591		156
Quoted prices in active markets for identical assets (Level 1) [Member]
Assets:
Equity securities	361		611
Derivatives:
Total assets	6,774		7,914
Derivatives:
Contingent consideration obligations	0		0
Total liabilities	0		0
Quoted prices in active markets for identical assets (Level 1) [Member] \| Foreign currency contracts [Member]
Derivatives:
Foreign currency and cross-currency swap contracts	0		0
Derivatives:
Foreign currency and cross-currency swap contracts	0		0
Quoted prices in active markets for identical assets (Level 1) [Member] \| Cross-currency swap contracts [Member]
Derivatives:
Foreign currency and cross-currency swap contracts	0		0
Derivatives:
Foreign currency and cross-currency swap contracts	0		0
Quoted prices in active markets for identical assets (Level 1) [Member] \| Interest rate swap contracts [Member]
Derivatives:
Interest rate swap contracts	0		0
Derivatives:
Interest rate swap contracts	0		0
Significant other observable inputs (Level 2) [Member]
Assets:
Equity securities	0		0
Derivatives:
Total assets	442		266
Derivatives:
Contingent consideration obligations	0		0
Total liabilities	1,124		534
Significant other observable inputs (Level 2) [Member] \| Foreign currency contracts [Member]
Derivatives:
Foreign currency and cross-currency swap contracts	413		183
Derivatives:
Foreign currency and cross-currency swap contracts	30		39
Significant other observable inputs (Level 2) [Member] \| Cross-currency swap contracts [Member]
Derivatives:
Foreign currency and cross-currency swap contracts	29		66
Derivatives:
Foreign currency and cross-currency swap contracts	503		339
Significant other observable inputs (Level 2) [Member] \| Interest rate swap contracts [Member]
Derivatives:
Interest rate swap contracts	0		16
Derivatives:
Interest rate swap contracts	591		156
Significant unobservable inputs (Level 3) [Member]
Assets:
Equity securities	131		220
Derivatives:
Total assets	131		220
Derivatives:
Contingent consideration obligations	310		342
Total liabilities	310		342
Significant unobservable inputs (Level 3) [Member] \| Foreign currency contracts [Member]
Derivatives:
Foreign currency and cross-currency swap contracts	0		0
Derivatives:
Foreign currency and cross-currency swap contracts	0		0
Significant unobservable inputs (Level 3) [Member] \| Cross-currency swap contracts [Member]
Derivatives:
Foreign currency and cross-currency swap contracts	0		0
Derivatives:
Foreign currency and cross-currency swap contracts	0		0
Significant unobservable inputs (Level 3) [Member] \| Interest rate swap contracts [Member]
Derivatives:
Interest rate swap contracts	0		0
Derivatives:
Interest rate swap contracts	0		0
U.S. Treasury notes [Member]
Assets:
Interest-bearing securities	0		47
U.S. Treasury notes [Member] \| Quoted prices in active markets for identical assets (Level 1) [Member]
Assets:
Interest-bearing securities	0		47
U.S. Treasury notes [Member] \| Significant other observable inputs (Level 2) [Member]
Assets:
Interest-bearing securities	0		0
U.S. Treasury notes [Member] \| Significant unobservable inputs (Level 3) [Member]
Assets:
Interest-bearing securities	0		0
U.S. Treasury bills [Member]
Assets:
Interest-bearing securities	1,980		1,400
U.S. Treasury bills [Member] \| Quoted prices in active markets for identical assets (Level 1) [Member]
Assets:
Interest-bearing securities	1,980		1,400
U.S. Treasury bills [Member] \| Significant other observable inputs (Level 2) [Member]
Assets:
Interest-bearing securities	0		0
U.S. Treasury bills [Member] \| Significant unobservable inputs (Level 3) [Member]
Assets:
Interest-bearing securities	0		0
Money market mutual funds [Member]
Assets:
Interest-bearing securities	4,433		5,856
Money market mutual funds [Member] \| Quoted prices in active markets for identical assets (Level 1) [Member]
Assets:
Interest-bearing securities	4,433		5,856
Money market mutual funds [Member] \| Significant other observable inputs (Level 2) [Member]
Assets:
Interest-bearing securities	0		0
Money market mutual funds [Member] \| Significant unobservable inputs (Level 3) [Member]
Assets:
Interest-bearing securities	0		0
Other short-term interest-bearing securities [Member]
Assets:
Interest-bearing securities	0		1
Other short-term interest-bearing securities [Member] \| Quoted prices in active markets for identical assets (Level 1) [Member]
Assets:
Interest-bearing securities	0		0
Other short-term interest-bearing securities [Member] \| Significant other observable inputs (Level 2) [Member]
Assets:
Interest-bearing securities	0		1
Other short-term interest-bearing securities [Member] \| Significant unobservable inputs (Level 3) [Member]
Assets:
Interest-bearing securities	$ 0		$ 0

Fair value measurement (Detai_2

Fair value measurement (Details Textual) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Length of time hedged in foreign currency contracts (or less)	3 years
Long-term debt, fair value	$ 34,400	$ 37,900
Carrying value of debt	36,522	33,309
Collaborative arrangement with BeiGene, Ltd. [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Method Investments,Quoted Market Price	3,100	5,100
Carrying value of equity method investment	2,500	2,800
Teneobio Inc.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Maximum additional consideration due contingent on certain milestones	$ 1,600	$ 1,600

Fair value measurement (Conting

Fair value measurement (Contingent Consideration Obligations) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Business Combination, Contingent Consideration [Roll Forward]
Beginning balance	$ 330	$ 39	$ 342	$ 33
Payments	(1)	(2)	(3)	(3)
Net changes in valuations	(19)	11	(29)	18
Ending balance	$ 310	$ 48	$ 310	$ 48

Derivative instruments (Details

Derivative instruments (Details Textual) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Amounts expected to be reclassified from AOCI into earnings over the next 12 months, foreign currency and cross-currency swaps	$ 179
Forward Contracts [Member] \| Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Notional amounts	5,600	$ 5,700
Forward Contracts [Member] \| Derivatives not designated as hedging instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Notional amounts	550	680
Interest Rate Swap [Member] \| Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Notional amounts	$ 6,700	$ 6,700

Derivative instruments (Cross-c

Derivative instruments (Cross-currency Swaps) (Details) - Cash flow hedge [Member] - Cross-currency swap contracts [Member] € in Millions, £ in Millions, SFr in Millions, $ in Millions	Jun. 30, 2022 USD ($)	Jun. 30, 2022 CHF (SFr)	Jun. 30, 2022 EUR (€)	Jun. 30, 2022 GBP (£)
0.41% 2023 Swiss franc Bonds [Member]
Derivative [Line Items]
Notional amounts	$ 704	SFr 700
2.00% 2026 euro Notes [Member]
Derivative [Line Items]
Notional amounts	833		€ 750
5.50% 2026 pound sterling Notes [Member]
Derivative [Line Items]
Notional amounts	747			£ 475
4.00% 2029 pound sterling Notes [Member]
Derivative [Line Items]
Notional amounts	$ 1,111			£ 700
Euro Member Countries, Euro \| 2.00% 2026 euro Notes [Member]
Derivative [Line Items]
Interest rates	2%	2%	2%	2%
Switzerland, Francs \| 0.41% 2023 Swiss franc Bonds [Member]
Derivative [Line Items]
Interest rates	0.40%	0.40%	0.40%	0.40%
United Kingdom, Pounds \| 5.50% 2026 pound sterling Notes [Member]
Derivative [Line Items]
Interest rates	5.50%	5.50%	5.50%	5.50%
United Kingdom, Pounds \| 4.00% 2029 pound sterling Notes [Member]
Derivative [Line Items]
Interest rates	4%	4%	4%	4%
United States of America, Dollars \| 0.41% 2023 Swiss franc Bonds [Member]
Derivative [Line Items]
Interest rates	3.40%	3.40%	3.40%	3.40%
United States of America, Dollars \| 2.00% 2026 euro Notes [Member]
Derivative [Line Items]
Interest rates	3.90%	3.90%	3.90%	3.90%
United States of America, Dollars \| 5.50% 2026 pound sterling Notes [Member]
Derivative [Line Items]
Interest rates	6%	6%	6%	6%
United States of America, Dollars \| 4.00% 2029 pound sterling Notes [Member]
Derivative [Line Items]
Interest rates	4.50%	4.50%	4.50%	4.50%

Derivative instruments (Effecti

Derivative instruments (Effective Portion of Unrealized Gain (Loss)) (Details) - Cash flow hedge [Member] - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Total unrealized gains (losses)	$ 67	$ (31)	$ 123	$ 77
Foreign currency contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total unrealized gains (losses)	252	(46)	330	137
Cross-currency swap contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total unrealized gains (losses)	$ (185)	$ 15	$ (207)	$ (60)

Derivative instruments (Hedged

Derivative instruments (Hedged Liabilities and Cumulative Amount) (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Derivative [Line Items]
Cumulative amounts of fair value hedging adjustments related to the carrying amounts of the hedged liabilities	$ (210)	$ 284
Current portion of long-term debt [Member]
Derivative [Line Items]
Hedged Liability, Fair Value Hedge	82	85
Cumulative amounts of fair value hedging adjustments related to the carrying amounts of the hedged liabilities	82	85
Carrying value with discontinued hedging relationships	82	85
Hedging adjustments on discontinued hedging relationships	82	85
Long-term debt [Member]
Derivative [Line Items]
Hedged Liability, Fair Value Hedge	6,241	6,729
Cumulative amounts of fair value hedging adjustments related to the carrying amounts of the hedged liabilities	(292)	199
Carrying value with discontinued hedging relationships	399	440
Hedging adjustments on discontinued hedging relationships	$ 299	$ 340

Derivative instruments (Summary

Derivative instruments (Summary of Income and Expense Line Items) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Total revenues	$ 6,594	$ 6,526	$ 12,832	$ 12,427
Other (expense) income, net	(317)	11	(847)	24
Interest expense, net	(328)	(281)	(623)	(566)
Interest rate swap agreements [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on fair value hedging relationships, Hedged items	157	(34)	494	141
Gains (losses) on fair value hedging relationships, Derivatives designated as hedging instruments	(135)	55	(450)	(97)
Reclassification out of Accumulated Other Comprehensive Income [Member] \| Cash flow hedges [Member] \| Cross-currency swap contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other (expense) income, net	(185)	46	(263)	(86)
Product sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total revenues	6,281	6,114	12,012	11,706
Product sales [Member] \| Reclassification out of Accumulated Other Comprehensive Income [Member] \| Cash flow hedges [Member] \| Foreign currency contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total revenues	$ 53	$ (18)	$ 80	$ (19)

Derivative instruments (Fair Va

Derivative instruments (Fair Value of Derivatives) (Details) - Derivatives designated as hedging instrument [Member] - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Assets
Total derivative assets, fair value	$ 442	$ 265
Liabilities
Total derivative liabilities, fair value	1,124	534
Foreign currency contracts [Member] \| Other current assets/Other assets [Member]
Assets
Total derivative assets, fair value	413	183
Foreign currency contracts [Member] \| Accrued liabilities/Other noncurrent liabilities [Member]
Liabilities
Total derivative liabilities, fair value	30	39
Cross-currency swap contracts [Member] \| Other current assets/Other assets [Member]
Assets
Total derivative assets, fair value	29	66
Cross-currency swap contracts [Member] \| Accrued liabilities/Other noncurrent liabilities [Member]
Liabilities
Total derivative liabilities, fair value	503	339
Interest rate swap contracts [Member] \| Other current assets/Other assets [Member]
Assets
Total derivative assets, fair value	0	16
Interest rate swap contracts [Member] \| Accrued liabilities/Other noncurrent liabilities [Member]
Liabilities
Total derivative liabilities, fair value	$ 591	$ 156

Contingencies and commitments (

Contingencies and commitments (Details)	May 27, 2022 argument
Loss Contingencies [Line Items]
Litigation Settlement, Number Of Primary Arguments	2