Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2018	Jan. 31, 2019	Jun. 30, 2018
Document and Entity Information
Entity Registrant Name	ABBOTT LABORATORIES
Entity Central Index Key	0000001800
Document Type	10-K
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY
Document Period End Date	Dec. 31, 2018
Amendment Flag	false
Entity Current Reporting Status	Yes
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 104,305,730,710
Entity Common Stock, Shares Outstanding		1,756,470,269

Consolidated Statement of Earnings - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Consolidated Statement of Earnings
Net Sales	$ 30,578	$ 27,390	$ 20,853
Cost of products sold, excluding amortization of intangible assets	12,706	12,409	9,094
Amortization of intangible assets	2,178	1,975	550
Research and development	2,300	2,260	1,447
Selling, general and administrative	9,744	9,182	6,736
Total Operating Cost and Expenses	26,928	25,826	17,827
Operating Earnings	3,650	1,564	3,026
Interest expense	826	904	431
Interest income	(105)	(124)	(99)
Net foreign exchange (gain) loss	28	(34)	495
Debt extinguishment costs	167
Other (income) expense, net	(139)	(1,413)	786
Earnings from Continuing Operations Before Taxes	2,873	2,231	1,413
Taxes on Earnings from Continuing Operations	539	1,878	350
Earnings from Continuing Operations	2,334	353	1,063
Earnings from Discontinued Operations, net of taxes	34	124	321
Gain on sale of Discontinued Operations, net of taxes			16
Net Earnings from Discontinued Operations, net of taxes	34	124	337
Net Earnings	$ 2,368	$ 477	$ 1,400
Basic Earnings Per Common Share
Continuing Operations (in dollars per share)	$ 1.32	$ 0.20	$ 0.71
Discontinued Operations (in dollars per share)	0.02	0.07	0.23
Net Earnings (in dollars per share)	1.34	0.27	0.94
Diluted Earnings Per Common Share
Continuing Operations (in dollars per share)	1.31	0.20	0.71
Discontinued Operations (in dollars per share)	0.02	0.07	0.23
Net Earnings (in dollars per share)	$ 1.33	$ 0.27	$ 0.94
Average Number of Common Shares Outstanding Used for Basic Earnings Per Common Share (in shares)	1,758	1,740	1,477
Dilutive Common Stock Options (in shares)	12	9	6
Average Number of Common Shares Outstanding Plus Dilutive Common Stock Options (in shares)	1,770	1,749	1,483
Outstanding Common Stock Options Having No Dilutive Effect (in shares)			5

Consolidated Statement of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Consolidated Statement of Comprehensive Income
Net Earnings	$ 654	$ (828)	$ 2,368	$ 477	$ 1,400
Foreign currency translation gain (loss) adjustments			(1,460)	1,365	(130)
Net actuarial gains (losses) and prior service cost and credits and amortization of net actuarial losses and prior service cost and credits, net of taxes of $47 in 2018, $(61) in 2017 and $(125) in 2016			132	(243)	(326)
Unrealized gains (losses) on marketable equity securities, net of taxes of $(76) in 2017 and $(28) in 2016				64	(134)
Net gains (losses) on derivative instruments designated as cash flow hedges, net of taxes of $50 in 2018, $(43) in 2017 and $(4) in 2016			136	(134)	(15)
Other Comprehensive Income (Loss)			(1,192)	1,052	(605)
Comprehensive Income			1,176	1,529	795
Supplemental Accumulated Other Comprehensive Income (Loss) Information as of December 31:
Cumulative foreign currency translation (loss) adjustments	(4,912)	(3,452)	(4,912)	(3,452)	(4,959)
Net actuarial (losses) and prior service (costs) and credits	(2,726)	(2,521)	(2,726)	(2,521)	(2,284)
Cumulative unrealized gains (losses) on marketable equity securities		(5)		(5)	(69)
Cumulative gains (losses) on derivative instruments designated as cash flow hedges	52	(84)	52	(84)	49
Accumulated other comprehensive income (loss)	$ (7,586)	$ (6,062)	$ (7,586)	$ (6,062)	$ (7,263)

Consolidated Statement of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Consolidated Statement of Comprehensive Income
Net actuarial gains (losses) and prior service cost and credits and amortization of net actuarial losses and prior service cost and credits, taxes	$ 47	$ (61)	$ (125)
Unrealized gains (losses) on marketable equity securities, taxes		(76)	(28)
Net gains (losses) for derivative instruments designated as cash flow hedges, taxes	$ 50	$ (43)	$ (4)

Consolidated Statement of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash Flow From (Used in) Operating Activities:
Net earnings	$ 2,368	$ 477	$ 1,400
Adjustments to reconcile net earnings to net cash from operating activities -
Depreciation	1,100	1,046	803
Amortization of intangible assets	2,178	1,975	550
Share-based compensation	477	406	310
Impact of currency devaluation			480
Amortization of inventory step-up	32	907
Investing and financing losses, net	126	47	86
Loss on extinguishment of debt	167
Amortization of bridge financing fees		5	165
Gains on sale of businesses		(1,163)	(25)
Mylan N.V. equity investment adjustment			947
Gain on sale of Mylan N.V. shares		(45)
Trade receivables	(190)	(207)	(177)
Inventories	(514)	249	(98)
Prepaid expenses and other assets	23	109	113
Trade accounts payable and other liabilities	747	615	(652)
Income taxes	(214)	1,149	(699)
Net Cash From Operating Activities	6,300	5,570	3,203
Cash Flow From (Used in) Investing Activities:
Acquisitions of property and equipment	(1,394)	(1,135)	(1,121)
Acquisitions of businesses and technologies, net of cash acquired		(17,183)	(80)
Proceeds from business dispositions	48	6,042	25
Proceeds from the sale of Mylan N.V. shares		2,704
Purchases of investment securities	(131)	(210)	(2,823)
Proceeds from sales of investment securities	73	129	3,709
Other	48	35	42
Net Cash From (Used in) Investing Activities	(1,356)	(9,618)	(248)
Cash Flow From (Used in) Financing Activities:
Proceeds from issuance of (repayments of) short-term debt and other	(26)	(1,034)	(1,767)
Proceeds from issuance of long-term debt and debt with maturities over 3 months	4,009	6,742	14,934
Repayments of long-term debt and debt with maturities over 3 months	(12,433)	(8,650)	(12)
Payment of bridge financing fees			(170)
Purchase of Alere preferred stock		(710)
Acquisition and contingent consideration payments related to business acquisitions		(13)	(25)
Purchases of common shares	(238)	(117)	(522)
Proceeds from stock options exercised	271	350	248
Dividends paid	(1,974)	(1,849)	(1,539)
Net Cash From (Used in) Financing Activities	(10,391)	(5,281)	11,147
Effect of exchange rate changes on cash and cash equivalents	(116)	116	(483)
Net Increase (Decrease) in Cash and Cash Equivalents	(5,563)	(9,213)	13,619
Cash and Cash Equivalents, Beginning of Year	9,407	18,620	5,001
Cash and Cash Equivalents, End of Period	3,844	9,407	18,620
Supplemental Cash Flow Information:
Income taxes paid	740	570	620
Interest paid	$ 845	$ 917	$ 181

Consolidated Balance Sheet - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Current Assets:
Cash and cash equivalents	$ 3,844	$ 9,407
Investments, primarily bank time deposits and U.S. treasury bills	242	203
Trade receivables, less allowances of - 2018: $314; 2017: $294	5,182	5,249
Inventories:
Finished products	2,407	2,339
Work in process	499	472
Materials	890	790
Total inventories	3,796	3,601
Prepaid expenses and other receivables	1,559	1,667
Current assets held for disposition	9	20
Total Current Assets	14,632	20,147
Investments	897	883
Property and Equipment, at Cost:
Land	501	526
Buildings	3,555	3,613
Equipment	10,756	10,394
Construction in progress	894	732
Property and equipment, at cost	15,706	15,265
Less: accumulated depreciation and amortization	8,143	7,658
Net Property and Equipment	7,563	7,607
Intangible Assets, net of amortization	18,942	21,473
Goodwill	23,254	24,020
Deferred Income Taxes and Other Assets	1,868	1,944
Non-current Assets Held for Disposition	17	176
Total Assets	67,173	76,250
Current Liabilities:
Short-term borrowings	200	206
Trade accounts payable	2,975	2,402
Salaries, wages and commissions	1,182	1,187
Other accrued liabilities	3,780	3,811
Dividends payable	563	489
Income taxes payable	305	309
Current portion of long-term debt	7	508
Total Current Liabilities	9,012	8,912
Long-term Debt	19,359	27,210
Post-employment obligations, deferred income taxes and other long-term liabilities	8,080	9,030
Commitments and Contingencies
Shareholders' Investment:
Preferred shares, one dollar par value Authorized - 1,000,000 shares, none issued
Common shares, without par value Authorized - 2,400,000,000 shares Issued at stated capital amount - Shares: 2018: 1,971,189,465; 2017: 1,965,908,188	23,512	23,206
Common shares held in treasury, at cost - Shares: 2018: 215,570,043; 2017: 222,305,719	(9,962)	(10,225)
Earnings employed in the business	24,560	23,978
Accumulated other comprehensive income (loss)	(7,586)	(6,062)
Total Abbott Shareholders' Investment	30,524	30,897
Noncontrolling Interests in Subsidiaries	198	201
Total Shareholders' Investment	30,722	31,098
Total Liabilities and Shareholders' Investment	$ 67,173	$ 76,250

Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Consolidated Balance Sheet
Trade receivables, allowances (in dollars)	$ 314	$ 294
Preferred shares, par value (in dollars per share)	$ 1	$ 1
Preferred shares, authorized shares	1,000,000	1,000,000
Preferred shares, issued shares	0	0
Common shares, authorized shares	2,400,000,000	2,400,000,000
Common shares, issued shares	1,971,189,465	1,965,908,188
Common shares held in treasury, shares	215,570,043	222,305,719

Consolidated Statement of Shareholders' Investment - USD ($) $ in Millions	3 Months Ended				12 Months Ended
	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Increase (Decrease) in Shareholders' Investment
Beginning of Year		$ 31,098			$ 31,098
Net Earnings	$ 654	418	$ (828)	$ 419	2,368	$ 477	$ 1,400
Other comprehensive income (loss)					(1,192)	1,052	(605)
End of Year	30,722		31,098		30,722	31,098
Common Shares:
Increase (Decrease) in Shareholders' Investment
Beginning of Year		23,206		13,027	23,206	13,027	12,734
Issued under incentive stock programs					163	242	222
Issued for St. Jude Medical acquisition						9,835
Share-based compensation					479	406	311
Issuance of restricted stock awards					(336)	(304)	(240)
End of Year	23,512		23,206		23,512	23,206	13,027
Common Shares Held in Treasury:
Increase (Decrease) in Shareholders' Investment
Beginning of Year		(10,225)		(10,791)	(10,225)	(10,791)	(10,622)
Issued under incentive stock programs					408	400	250
Issued for St. Jude Medical acquisition						180
Purchased					(145)	(14)	(419)
End of Year	(9,962)		(10,225)		(9,962)	(10,225)	(10,791)
Earnings Employed in the Business:
Increase (Decrease) in Shareholders' Investment
Beginning of Year		23,978		25,565	23,978	25,565	25,757
Net Earnings					2,368	477	1,400
Cash dividends declared on common shares (per share - 2018: $1.16; 2017: $1.075; 2016: $1.045)					(2,047)	(1,947)	(1,547)
Effect of common and treasury share transactions					(90)	(117)	(45)
Impact of adoption of new accounting standards	351				351
End of Year	24,560		23,978		24,560	23,978	25,565
Accumulated Other Comprehensive Income (Loss):
Increase (Decrease) in Shareholders' Investment
Beginning of Year		(6,062)		(7,263)	(6,062)	(7,263)	(6,658)
Business dispositions / separation						149
Other comprehensive income (loss)					(1,192)	1,052	(605)
Impact of adoption of new accounting standards	(332)				(332)
End of Year	(7,586)		(6,062)		(7,586)	(6,062)	(7,263)
Noncontrolling Interests in Subsidiaries:
Increase (Decrease) in Shareholders' Investment
Beginning of Year		$ 201		$ 179	201	179	115
Noncontrolling Interests' share of income, business combinations, net of distributions and share repurchases					(3)	22	64
End of Year	$ 198		$ 201		$ 198	$ 201	$ 179

Consolidated Statement of Shareholders' Investment (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Common Shares:
Increase (Decrease) in Shareholders' Investment
Beginning of Year (in shares)	1,965,908,188	1,707,475,455	1,702,017,390
Issued under incentive stock programs (in shares)	5,281,277	8,834,924	5,458,065
Issued for St. Jude Medical acquisition (in shares)		249,597,809
End of Year (in shares)	1,971,189,465	1,965,908,188	1,707,475,455
Common Shares Held in Treasury:
Increase (Decrease) in Shareholders' Investment
Beginning of Year (in shares)	222,305,719	234,606,250	229,352,338
Issued under incentive stock programs (in shares)	8,870,735	8,696,320	5,398,469
Issued for St. Jude Medical acquisition (in shares)		3,906,848
Purchased (in shares)	2,135,059	302,637	10,652,381
End of Year (in shares)	215,570,043	222,305,719	234,606,250
Earnings Employed in the Business:
Increase (Decrease) in Shareholders' Investment
Cash Dividends Declared Per Common Share (in dollars per share)	$ 1.16	$ 1.075	$ 1.045

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2018

Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

Note 1 — Summary of Significant Accounting Policies

NATURE OF BUSINESS — Abbott’s principal business is the discovery, development, manufacture and sale of a broad line of health care products.

BASIS OF CONSOLIDATION— The consolidated financial statements include the accounts of the parent company and subsidiaries, after elimination of intercompany transactions.

USE OF ESTIMATES —The consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States and necessarily include amounts based on estimates and assumptions by management. Actual results could differ from those amounts. Significant estimates include amounts for sales rebates; income taxes; pension and other post‑employment benefits, including certain asset values that are based on significant unobservable inputs; valuation of intangible assets; litigation; derivative financial instruments; and inventory and accounts receivable exposures.

FOREIGN CURRENCY TRANSLATION—The statements of earnings of foreign subsidiaries whose functional currencies are other than the U.S. dollar are translated into U.S. dollars using average exchange rates for the period. The net assets of foreign subsidiaries whose functional currencies are other than the U.S. dollar are translated into U.S. dollars using exchange rates as of the balance sheet date. The U.S. dollar effects that arise from translating the net assets of these subsidiaries at changing rates are recorded in the foreign currency translation adjustment account, which is included in equity as a component of Accumulated other comprehensive income (loss). Transaction gains and losses are recorded on the Net foreign exchange (gain) loss line of the Consolidated Statement of Earnings.

REVENUE RECOGNITION — Revenue from product sales is recognized upon the transfer of control, which is generally upon shipment or delivery, depending on the delivery terms set forth in the customer contract. Provisions for discounts, rebates and sales incentives to customers, and returns and other adjustments are provided for in the period the related sales are recorded. Sales incentives to customers are not material. Historical data is readily available and reliable, and is used for estimating the amount of the reduction in gross sales. Revenue from the launch of a new product, from an improved version of an existing product, or for shipments in excess of a customer’s normal requirements are recorded when the conditions noted above are met. In those situations, management records a returns reserve for such revenue, if necessary. In certain of Abbott’s businesses, primarily within diagnostics, Abbott participates in selling arrangements that include multiple performance obligations (e.g., instruments, reagents, procedures, and service agreements). The total transaction price of the contract is allocated to each performance obligation in an amount based on the estimated relative standalone selling prices of the promised goods or services underlying each performance obligation. Sales of product rights for marketable products are recorded as revenue upon disposition of the rights.

INCOME TAXES — Deferred income taxes are provided for the tax effect of differences between the tax bases of assets and liabilities and their reported amounts in the financial statements at the enacted statutory rate to be in effect when the taxes are paid. No additional income taxes have been provided for any remaining undistributed foreign earnings not subject to the transition tax related to the U.S. Tax Cuts and Jobs Act, or any additional outside basis differences that exist, as these amounts continue to be indefinitely reinvested in foreign operations. Interest and penalties on income tax obligations are included in taxes on earnings.

EARNINGS PER SHARE — Unvested restricted stock units and awards that contain non‑forfeitable rights to dividends are treated as participating securities and are included in the computation of earnings per share under the two‑class method. Under the two‑class method, net earnings are allocated between common shares and participating securities. Earnings from Continuing Operations allocated to common shares in 2018, 2017 and 2016 were $2.320 billion, $346 million and $1.057 billion, respectively. Net earnings allocated to common shares in 2018, 2017 and 2016 were $2.353 billion, $468 million and $1.393 billion, respectively.

PENSION AND POST‑EMPLOYMENT BENEFITS — Abbott accrues for the actuarially determined cost of pension and post‑employment benefits over the service attribution periods of the employees. Abbott must develop long‑term assumptions, the most significant of which are the health care cost trend rates, discount rates and the expected return on plan assets. Differences between the expected long‑term return on plan assets and the actual return are amortized over a five‑year period. Actuarial losses and gains are amortized over the remaining service attribution periods of the employees under the corridor method.

FAIR VALUE MEASUREMENTS — For assets and liabilities that are measured using quoted prices in active markets, total fair value is the published market price per unit multiplied by the number of units held without consideration of transaction costs. Assets and liabilities that are measured using significant other observable inputs are valued by reference to similar assets or liabilities, adjusted for contract restrictions and other terms specific to that asset or liability. For these items, a significant portion of fair value is derived by reference to quoted prices of similar assets or liabilities in active markets. For all remaining assets and liabilities, fair value is derived using a fair value model, such as a discounted cash flow model or Black-Scholes model. Purchased intangible assets are recorded at fair value. The fair value of significant purchased intangible assets is based on independent appraisals. Abbott uses a discounted cash flow model to value intangible assets. The discounted cash flow model requires assumptions about the timing and amount of future net cash flows, risk, the cost of capital, terminal values and market participants. Intangible assets are reviewed for impairment on a quarterly basis. Goodwill and indefinite‑lived intangible assets are tested for impairment at least annually.

SHARE‑BASED COMPENSATION — The fair value of stock options and restricted stock awards and units are amortized over their requisite service period, which could be shorter than the vesting period if an employee is retirement eligible, with a charge to compensation expense.

In March 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-09, Improvements to Employee Share-Based Payment Accounting. ASU 2016-09 modifies several aspects of the accounting for share-based payment transactions, including the accounting for income taxes and classification on the statement of cash flows. Abbott adopted the standard in the first quarter of 2017 and the following changes were made to the presentation of Abbott’s financial statements:

All excess tax benefits or tax deficiencies are now recognized as income tax benefit or expense as applicable. Previously, Abbott recorded the benefits to Shareholders’ Investment. The tax benefit recorded in Abbott’s Consolidated Statement of Earnings for 2018 and 2017 was $90 million and $120 million, respectively. The standard did not permit retrospective presentation of this benefit in prior years.

The tax benefit or deficiency is required to be classified as an operating activity in the statement of cash flows. Previously, it was required to be classified within financing activities. Abbott has adopted this standard on a prospective basis and has not revised the classification of the excess tax benefit in the 2016 Consolidated Statement of Cash Flows.

LITIGATION — Abbott accounts for litigation losses in accordance with FASB ASC No. 450, “Contingencies.” Under ASC No. 450, loss contingency provisions are recorded for probable losses at management’s best estimate of a loss, or when a best estimate cannot be made, a minimum loss contingency amount is recorded. Legal fees are recorded as incurred.

CASH, CASH EQUIVALENTS AND INVESTMENTS — Cash equivalents consist of bank time deposits, U.S. government securities money market funds and U.S. treasury bills with original maturities of three months or less. Abbott holds certain investments with a carrying value of approximately $325 million that are accounted for under the equity method of accounting. Investments held in a rabbi trust and investments in publicly traded equity securities are recorded at fair value and changes in fair value are recorded in earnings. Investments in equity securities that are not traded on public stock exchanges are recorded at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer. Investments in debt securities are classified as held-to-maturity, as management has both the intent and ability to hold these securities to maturity, and are reported at cost, net of any unamortized premium or discount. Income relating to these securities is reported as interest income.

TRADE RECEIVABLE VALUATIONS — Accounts receivable are stated at their net realizable value. The allowance against gross trade receivables reflects the best estimate of probable losses inherent in the receivables portfolio determined on the basis of historical experience, specific allowances for known troubled accounts and other currently available information. Accounts receivable are charged off after all reasonable means to collect the full amount (including litigation, where appropriate) have been exhausted.

INVENTORIES — Inventories are stated at the lower of cost (first‑in, first‑out basis) or net realizable value. Cost includes material and conversion costs.

PROPERTY AND EQUIPMENT — Depreciation and amortization are provided on a straight‑line basis over the estimated useful lives of the assets. The following table shows estimated useful lives of property and equipment:


Classification		Estimated Useful Lives
Buildings		10 to 50 years (average 27 years)
Equipment		3 to 20 years (average 11 years)

PRODUCT LIABILITY — Abbott accrues for product liability claims when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated based on existing information. The liabilities are adjusted quarterly as additional information becomes available. Receivables for insurance recoveries for product liability claims are recorded as assets, on an undiscounted basis, when it is probable that a recovery will be realized. Product liability losses are self‑insured.

RESEARCH AND DEVELOPMENT COSTS — Internal research and development costs are expensed as incurred. Clinical trial costs incurred by third parties are expensed as the contracted work is performed. Where contingent milestone payments are due to third parties under research and development arrangements, the milestone payment obligations are expensed when the milestone results are achieved.

ACQUIRED IN‑PROCESS AND COLLABORATIONS RESEARCH AND DEVELOPMENT (IPR&D) — The initial costs of rights to IPR&D projects obtained in an asset acquisition are expensed as IPR&D unless the project has an alternative future use. These costs include initial payments incurred prior to regulatory approval in connection with research and development collaboration agreements that provide rights to develop, manufacture, market and/or sell pharmaceutical products. The fair value of IPR&D projects acquired in a business combination are capitalized and accounted for as indefinite‑lived intangible assets until completed and are then amortized over the remaining useful life. Collaborations are not significant.

CONCENTRATION OF RISK AND GUARANTEES — Due to the nature of its operations, Abbott is not subject to significant concentration risks relating to customers, products or geographic locations. Product warranties are not significant.

Abbott has no material exposures to off‑balance sheet arrangements; no special purpose entities; nor activities that include non‑exchange‑traded contracts accounted for at fair value. Abbott has periodically entered into agreements in the ordinary course of business, such as assignment of product rights, with other companies, which has resulted in Abbott becoming secondarily liable for obligations that Abbott was previously primarily liable. Since Abbott no longer maintains a business relationship with the other parties, Abbott is unable to develop an estimate of the maximum potential amount of future payments, if any, under these obligations. Based upon past experience, the likelihood of payments under these agreements is remote. Abbott periodically acquires a business or product rights in which Abbott agrees to pay contingent consideration based on attaining certain thresholds or based on the occurrence of certain events.

New Accounting Standards	12 Months Ended
New Accounting Standards	Dec. 31, 2018
New Accounting Standards
New Accounting Standards	Note 2 – New Accounting Standards Recently Adopted Accounting Standards In February 2018, the FASB issued ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income, which allows companies to reclassify stranded tax effects resulting from the 2017 Tax Cuts and Jobs Act, from accumulated other comprehensive income (loss) to retained earnings (Earnings employed in the business). Abbott adopted the new standard at the beginning of the fourth quarter of 2018. As a result of the adoption of the new standard, approximately $337 million of stranded tax effects were reclassified from Accumulated other comprehensive income (loss) to Earnings employed in the business. In August 2017, the FASB issued ASU 2017-12, Targeted Improvements to Accounting for Hedging Activities, which makes changes to the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results. The standard would have become effective for Abbott beginning in the first quarter of 2019, with early adoption permitted. Abbott elected to early adopt ASU 2017-12 in the fourth quarter of 2018. The impact of adopting the standard is not significant to Abbott’s Consolidated Balance Sheet and Consolidated Statement of Earnings. In March 2017, the FASB issued ASU 2017-07, Compensation — Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost which changes the financial statement presentation requirements for pension and other postretirement benefit expense. While service cost continues to be reported in the same financial statement line items as other current employee compensation costs, the ASU requires all other components of pension and other postretirement benefit expense to be presented separately from service cost, and outside any subtotal of income from operations. The standard was adopted by Abbott beginning in the first quarter of 2018. The change in the presentation of the components of pension cost per year was applied retrospectively. As a result, approximately $160 million of net pension-related income per year was moved from the operating lines of the Consolidated Statement of Earnings to non-operating income for 2017 and 2016. In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows: Restricted Cash, which requires that restricted cash be included with cash and cash equivalents when reconciling the beginning and end-of-period total amounts shown on the statement of cash flows. Abbott adopted this standard beginning in the first quarter of 2018, and applied the guidance retrospectively to all periods presented. Abbott did not have any restricted cash balances in the periods presented except for $75 million of restricted cash acquired as part of the Alere Inc. (Alere) acquisition in October 2017. The restrictions on this cash were eliminated prior to the end of 2017. In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory, which requires the recognition of the income tax effects of intercompany sales and transfers of assets, other than inventory, in the period in which the transfer occurs. Abbott adopted the standard on January 1, 2018, using a modified retrospective approach and recorded a cumulative catch-up adjustment to Earnings employed in the business in the Consolidated Balance Sheet that was not significant. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments, which clarifies how companies should present and classify certain cash receipts and cash payments in the statement of cash flows. The ASU became effective for Abbott in the first quarter of 2018 and did not have a material impact to the Company’s Consolidated Statement of Cash Flows. In January 2016, the FASB issued ASU 2016-01, Financial Instruments – Recognition and Measurement of Financial Assets and Financial Liabilities, which provides new guidance for the recognition, measurement, presentation, and disclosure of financial assets and liabilities. Abbott adopted the standard on January 1, 2018. Under the new standard, changes in the fair value of equity investments with readily determinable fair values are recorded in Other (income) expense, net within the Consolidated Statement of Earnings. Previously, such fair value changes were recorded in other comprehensive income. Abbott has elected the measurement alternative allowed by ASU 2016-01 for its equity investments without readily determinable fair values. These investments are measured at cost, less any impairment, plus or minus any changes resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer. Changes in the measurement of these investments are being recorded in Other (income) expense, net within the Consolidated Statement of Earnings. As part of the adoption, the cumulative-effect adjustment to Earnings employed in the business in the Consolidated Balance Sheet for net unrealized losses on equity investments that were recorded in Accumulated other comprehensive income (loss) as of December 31, 2017 was not significant. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers, which provides a single comprehensive model for accounting for revenue from contracts with customers and supersedes nearly all previously existing revenue recognition guidance. The core principle of the ASU is that an entity should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Abbott adopted the new standard as of January 1, 2018, using the modified retrospective approach method. Under this method, entities recognize the cumulative effect of applying the new standard at the date of initial application with no restatement of comparative periods presented. The cumulative effect of applying the new standard resulted in an increase to Earnings employed in the business in the Consolidated Balance Sheet of $23 million which was recorded on January 1, 2018. The new standard has been applied only to those contracts that were not completed as of January 1, 2018. The impact of adopting ASU 2014-09 was not significant to individual financial statement line items in the Consolidated Balance Sheet and Consolidated Statement of Earnings. Recent Accounting Standards Not Yet Adopted In February 2016, the FASB issued ASU 2016-02, Leases, which requires lessees to recognize assets and liabilities for most leases on the balance sheet. The standard becomes effective for Abbott beginning in the first quarter of 2019. Abbott completed a detailed review of its leases. Abbott will use the modified retrospective approach with the package of practical expedients which allows Abbott to carry forward the historical lease classification for leases existing at, or entered into after the beginning of the period of adoption and to account for lease and non-lease components as a single lease component for its lessee arrangements. Abbott does not expect the new lease accounting standard to have a material impact on the amounts reported in the Consolidated Statement of Earnings. As a result of adopting ASU 2016-02, Abbott expects to record approximately $800 million to $900 million of right of use assets and lease liabilities for operating leases on the Consolidated Balance Sheet.

Revenue

12 Months Ended

Dec. 31, 2018

Revenue

Revenue

Note 3 — Revenue

Abbott’s revenues are derived primarily from the sale of a broad line of health care products under short-term receivable arrangements. Patent protection and licenses, technological and performance features, and inclusion of Abbott’s products under a contract most impact which products are sold; price controls, competition and rebates most impact the net selling prices of products; and foreign currency translation impacts the measurement of net sales and costs. Abbott's products are generally sold directly to retailers, wholesalers, distributors, hospitals, health care facilities, laboratories, physicians' offices and government agencies throughout the world. Abbott has four reportable segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Cardiovascular and Neuromodulation Products. Diabetes Care is a non-reportable segment and is included in Other in the following table.

The following tables provide detail by sales category:


	2018						2017
(in millions)	U.S.		Int'l		Total		U.S.		Int'l		Total
Established Pharmaceutical Products —
Key Emerging Markets	$	—	$	3,363	$	3,363	$	—	$	3,307	$	3,307
Other		—		1,059		1,059		—		980		980
Total		—		4,422		4,422		—		4,287		4,287

Nutritionals —
Pediatric Nutritionals
Pediatric Nutritionals		1,843		2,254		4,097		1,777		2,112		3,889
Adult Nutritionals		1,232		1,900		3,132		1,254		1,782		3,036
Total		3,075		4,154		7,229		3,031		3,894		6,925

Diagnostics —
Core Laboratory		985		3,401		4,386		921		3,142		4,063
Molecular		152		332		484		160		303		463
Point of Care		432		121		553		440		110		550
Rapid Diagnostics		1,148		924		2,072		296		244		540
Total		2,717		4,778		7,495		1,817		3,799		5,616

Cardiovascular and Neuromodulation —
Rhythm Management		1,019		1,072		2,091		1,030		1,073		2,103
Electrophysiology		764		904		1,668		609		773		1,382
Heart Failure		467		179		646		491		152		643
Vascular		1,126		1,803		2,929		1,180		1,712		2,892
Structural Heart		488		751		1,239		432		651		1,083
Neuromodulation		690		174		864		636		172		808
Total		4,554		4,883		9,437		4,378		4,533		8,911

Other		493		1,502		1,995		447		1,204		1,651

Total	$	10,839	$	19,739	$	30,578	$	9,673	$	17,717	$	27,390

Abbott recognizes revenue from product sales upon the transfer of control, which is generally upon shipment or delivery, depending on the delivery terms set forth in the customer contract. For maintenance agreements that provide service beyond Abbott’s standard warranty and other service agreements, revenue is recognized ratably over the contract term. A time-based measure of progress appropriately reflects the transfer of services to the customer. Payment terms between Abbott and its customers vary by the type of customer, country of sale, and the products or services offered. The term between invoicing and the payment due date is not significant.

Management exercises judgment in estimating variable consideration. Provisions for discounts, rebates and sales incentives to customers, and returns and other adjustments are provided for in the period the related sales are recorded. Sales incentives to customers are not material. Historical data is readily available and reliable, and is used for estimating the amount of the reduction in gross sales. Abbott provides rebates to government agencies, wholesalers, group purchasing organizations and other private entities.

Rebate amounts are usually based upon the volume of purchases using contractual or statutory prices for a product. Factors used in the rebate calculations include the identification of which products have been sold subject to a rebate, which customer or government agency price terms apply, and the estimated lag time between sale and payment of a rebate. Using historical trends, adjusted for current changes, Abbott estimates the amount of the rebate that will be paid, and records the liability as a reduction of gross sales when Abbott records its sale of the product. Settlement of the rebate generally occurs from one to six months after sale. Abbott regularly analyzes the historical rebate trends and makes adjustments to reserves for changes in trends and terms of rebate programs. Historically, adjustments to prior years' rebate accruals have not been material to net income.

Other allowances charged against gross sales include cash discounts and returns, which are not significant. Cash discounts are known within 15 to 30 days of sale, and therefore can be reliably estimated. Returns can be reliably estimated because Abbott's historical returns are low, and because sales return terms and other sales terms have remained relatively unchanged for several periods. Product warranties are also not significant.

Abbott also applies judgment in determining the timing of revenue recognition related to contracts that include multiple performance obligations. The total transaction price of the contract is allocated to each performance obligation in an amount based on the estimated relative standalone selling prices of the promised goods or services underlying each performance obligation. For goods or services for which observable standalone selling prices are not available, Abbott uses an expected cost plus a margin approach to estimate the standalone selling price of each performance obligation.

Remaining Performance Obligations

As of December 31, 2018, the estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) was approximately $2.9 billion in the Diagnostic Products segment and approximately $410 million in the Cardiovascular and Neuromodulation Products segment. Abbott expects to recognize revenue on approximately 60 percent of these remaining performance obligations over the next 24 months, approximately 16 percent over the subsequent 12 months and the remainder thereafter.

These performance obligations primarily reflect the future sale of reagents/consumables in contracts with minimum purchase obligations, extended warranty or service obligations related to previously sold equipment, and remote monitoring services related to previously implanted devices. Abbott has applied the practical expedient described in Accounting Standards Codification (ASC) 606-10-50-14 and has not included remaining performance obligations related to contracts with original expected durations of one year or less in the amounts above.

Assets Recognized for Costs to Obtain a Contract with a Customer

Abbott has applied the practical expedient in ASC 340-40-25-4 and records as an expense the incremental costs of obtaining contracts with customers in the period of occurrence when the amortization period of the asset that Abbott otherwise would have recognized is one year or less. Upfront commission fees paid to sales personnel as a result of obtaining or renewing contracts with customers are incremental to obtaining the contract. Abbott capitalizes these amounts as contract costs. Capitalized commission fees are amortized based on the contract duration to which the assets relate which ranges from two to ten years. The amounts as of December 31, 2018, were not significant.

Additionally, the cost of transmitters provided to customers that use Abbott’s remote monitoring service with respect to certain medical devices are capitalized as contract costs. Capitalized transmitter costs are amortized based on the timing of the transfer of services to which the assets relate, which typically ranges from eight to ten years. The amounts as of December 31, 2018, were not significant.

Other Contract Assets and Liabilities

Abbott discloses Trade receivables separately in the Consolidated Balance Sheet at their net realizable value. Contract assets primarily relate to Abbott’s conditional right to consideration for work completed but not billed at the reporting date. Contract assets at the beginning and end of the period, as well as the changes in the balance, were not significant.

Contract liabilities primarily relate to payments received from customers in advance of performance under the contract. Abbott’s contract liabilities arise primarily in the Cardiovascular and Neuromodulation reportable segment when payment is received upfront for various multi-period extended service arrangements. Changes in the contract liabilities during the period are as follows:


(in millions)
Contract Liabilities
Balance at January 1, 2018	$	198
Unearned revenue from cash received during the period		304
Revenue recognized that was included in contract liability balance at beginning of period		(243)
Balance at December 31, 2018	$	259

Discontinued Operations

12 Months Ended

Dec. 31, 2018

Discontinued Operations and Assets Held for Disposition

Discontinued Operations

Note 4 — Discontinued Operations and Assets Held for Disposition

On February 27, 2015, Abbott completed the sale of its developed markets branded generics pharmaceuticals business to Mylan Inc. (Mylan) for 110 million ordinary shares (or approximately 22 percent) of a newly formed entity (Mylan N.V.) that combined Mylan’s existing business and Abbott’s developed markets branded generics pharmaceuticals business.

In April 2015, Abbott sold 40.25 million of the 110 million ordinary shares of Mylan N.V. received in the sale of the developed markets branded generics pharmaceuticals business to Mylan. In 2015, Abbott recorded a pretax gain of $207 million on $2.29 billion in net proceeds from the sale of these shares. In 2017, Abbott sold 69.75 million ordinary shares of Mylan N.V. and received $2.704 billion in proceeds. Abbott recorded a $45 million gain from the sale of these ordinary shares in 2017, which was recognized in the Other (income) expense, net line of the Consolidated Statement of Earnings. Abbott no longer has an ownership interest in Mylan N.V.

On February 10, 2015, Abbott completed the sale of its animal health business to Zoetis Inc. Abbott received cash proceeds of $230 million and reported an after tax gain on the sale of approximately $130 million. In the first quarter of 2016, Abbott received an additional $25 million of proceeds due to the expiration of a holdback agreement associated with the sale of this business and reported an after-tax gain of $16 million.

As a result of the disposition of the above businesses, the operating results of these businesses up to the date of sale are reported as part of discontinued operations on the Earnings from Discontinued Operations, net of taxes line in the Consolidated Statement of Earnings.

On January 1, 2013, Abbott completed the separation of AbbVie Inc. (AbbVie), which was formed to hold Abbott’s research-based proprietary pharmaceuticals business. Abbott has retained all liabilities for all U.S. federal and foreign income taxes on income prior to the separation, as well as certain non-income taxes attributable to AbbVie’s business. AbbVie generally will be liable for all other taxes attributable to its business.

The net earnings of discontinued operations include income tax benefits of $39 million in 2018, $109 million in 2017 and $325 million in 2016. These tax benefits primarily relate to the resolution of various tax positions related to AbbVie’s operations for years prior to the separation.

In September 2016, Abbott announced that it entered into a definitive agreement to sell Abbott Medical Optics (AMO), its vision care business, to Johnson & Johnson for $4.325 billion in cash, subject to customary purchase price adjustments for cash, debt and working capital. The decision to sell AMO reflected Abbott's proactive shaping of its portfolio in line with its strategic priorities. In February 2017, Abbott completed the sale of AMO to Johnson & Johnson and recognized a pre-tax gain of $1.163 billion including working capital adjustments, which was reported in the Other (income) expense, net line of the Consolidated Statement of Earnings in 2017. Abbott recorded an after-tax gain of $728 million in 2017 related to the sale of AMO. The operating results of AMO up to the date of sale continued to be included in Earnings from continuing operations as the business did not qualify for reporting as discontinued operations. For 2017 and 2016, the AMO earnings (losses) before taxes included in Abbott’s consolidated earnings were $(18) million and $30 million, respectively.

As discussed in Note 7 — Business Acquisitions, in conjunction with the acquisition of Alere, Abbott sold the Triage MeterPro cardiovascular and toxicology business and the assets and liabilities related to its B-type Natriuretic Peptide assay business run on Beckman Coulter analyzers to Quidel Corporation (Quidel). The legal transfer of certain assets related to these businesses did not occur at the close of the sale to Quidel due to, among other factors, the time required to transfer marketing authorizations and other regulatory requirements in various countries. Under the terms of the sale agreement with Abbott, Quidel is subject to the risks and entitled to the benefits generated by these operations and assets. The assets presented as held for disposition in the Consolidated Balance Sheet as of December 31, 2018 and 2017, primarily relate to the businesses sold to Quidel.

The following is a summary of the assets held for disposition as of December 31, 2018 and 2017:


	December 31,		December 31,
(in millions)	2018		2017
Trade receivables, net	$	6	$	12
Total inventories		3		8
Current assets held for disposition		9		20
Net property and equipment		—		56
Intangible assets, net of amortization		—		18
Goodwill		17		102
Non-current assets held for disposition		17		176
Total assets held for disposition	$	26	$	196

Supplemental Financial Information

12 Months Ended

Dec. 31, 2018

Supplemental Financial Information

Supplemental Financial Information

Note 5 — Supplemental Financial Information

Other (income) expense, net, for 2018, 2017 and 2016 includes approximately $160 million of income related to the non-service cost components of the net periodic benefit costs associated with the pension and post-retirement medical plans. These amounts are being reported in other (income) expense as a result of the adoption of the new accounting standard for recognizing pension cost. Other (income) expense, net, for 2017 includes a pre-tax gain of $1.163 billion related to the sale of AMO to Johnson & Johnson. See Note 4 — Discontinued Operations and Assets Held for Disposition for further discussion of this sale. In 2017, Abbott sold 69.75 million ordinary shares of Mylan N.V. and received $2.704 billion in proceeds and recorded a $45 million pre-tax gain related to the sale of these ordinary shares. Other (income) expense, net, for 2016 includes expense of $947 million to adjust Abbott’s holding of Mylan N.V. ordinary shares due to a decline in the fair value of the securities which was considered by Abbott to be other than temporary.

The detail of various balance sheet components is as follows:


	December 31,		December 31,
(in millions)	2018		2017
Long-term Investments:
Equity securities	$	856	$	797
Other		41		86
Total	$	897	$	883

Abbott’s equity securities as of December 31, 2018 and December 31, 2017, include $307 million and $363 million, respectively, of investments in mutual funds that are held in a rabbi trust acquired as part of the St. Jude Medical, Inc. (St. Jude Medical) business acquisition. These investments, which are specifically designated as available for the purpose of paying benefits under a deferred compensation plan, are not available for general corporate purposes and are subject to creditor claims in the event of insolvency.

Abbott also holds certain investments as of December 31, 2018 with a carrying value of approximately $325 million that are accounted for under the equity method of accounting and other equity investments with a carrying value of $211 million that do not have a readily determinable fair value. The $211 million carrying value includes an unrealized gain of approximately $50 million on an investment. The gain was recorded in the second quarter of 2018 and relates to an observable price change for a similar investment of the same issuer.


	December 31,		December 31,
(in millions)	2018		2017
Other Accrued Liabilities:
Accrued rebates payable to government agencies	$	166	$	124
Accrued other rebates (a)		608		498
All other		3,006		3,189
Total	$	3,780	$	3,811

(a)

Accrued wholesaler chargeback rebates of $197 million and $178 million at December 31, 2018 and 2017, respectively, are netted in trade receivables because Abbott’s customers are invoiced at a higher catalog price but only remit to Abbott their contract price for the products.


	December 31,		December 31,
(in millions)	2018		2017

Post-employment Obligations and Other Long-term Liabilities:
Defined benefit pension plans and post-employment medical and dental plans for significant plans	$	2,040	$	2,169
Deferred income taxes		2,056		2,006
All other (b)		3,984		4,855
Total	$	8,080	$	9,030

(b) 2018 includes approximately $465 million of net unrecognized tax benefits, as well as approximately $65 million of acquisition consideration payable. 2017 includes approximately $835 million of net unrecognized tax benefits, as well as approximately $100 million of acquisition consideration payable.

Since January 2010, Venezuela has been designated as a highly inflationary economy under U.S. GAAP. On February 17, 2016, the Venezuelan government announced that its three-tier exchange rate system would be reduced to two rates renamed the DIPRO and DICOM rates. The DIPRO was the official rate for food and medicine imports and was adjusted from 6.3 to 10 bolivars per U.S. dollar. The DICOM rate was a floating market rate published daily by the Venezuelan central bank, which at the end of the first quarter of 2016 was approximately 263 bolivars per U.S. dollar. As a result of decreasing government approvals to convert bolivars to U.S. dollars to pay for intercompany accounts, as well as the accelerating deterioration of economic conditions in the country, Abbott concluded that it was appropriate to move to the DICOM rate at the end of the first quarter of 2016. As a result, Abbott recorded a foreign currency exchange loss of $480 million in 2016 to revalue its net monetary assets in Venezuela. After the revaluation, Abbott’s investment in its Venezuelan operations was not significant.

Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2018

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)

Note 6 — Accumulated Other Comprehensive Income (Loss)

The components of the changes in accumulated other comprehensive income (loss) from continuing operations, net of income taxes, are as follows: (in millions)


					Cumulative		Cumulative
			Net Actuarial		Unrealized		Gains (Losses)
	Cumulative		Losses		Gains (Losses)		on Derivative
	Foreign		and Prior		on		Instruments
	Currency		Service		Marketable		Designated as
	Translation		Costs and		Equity		Cash Flow
	Adjustments		Credits		Securities		Hedges		Total
Balance at December 31, 2016	$	(4,959)	$	(2,284)	$	(69)	$	49	$	(7,263)
Impact of business dispositions		142		6		—		1		149
Other comprehensive income (loss) before reclassifications		1,365		(333)		182		(170)		1,044
(Income) loss amounts reclassified from accumulated other comprehensive income (a)		—		90		(118)		36		8
Net current period other comprehensive income (loss)		1,365		(243)		64		(134)		1,052
Balance at December 31, 2017		(3,452)		(2,521)		(5)		(84)		(6,062)
Impact of adoption of new accounting standards		—		(337)		5		—		(332)
Other comprehensive income (loss) before reclassifications		(1,488)		(18)		—		58		(1,448)
(Income) loss amounts reclassified from accumulated other comprehensive income (a)		28		150		—		78		256
Net current period other comprehensive income (loss)		(1,460)		132		—		136		(1,192)
Balance at December 31, 2018	$	(4,912)	$	(2,726)	$	—	$	52	$	(7,586)

(a)

Reclassified amounts for foreign currency translation adjustments are recorded in the Consolidated Statement of Earnings as Net Foreign exchange (gain) loss; gains (losses) on marketable equity securities are recorded as Other (income) expense and gains/losses related to cash flow hedges are recorded as Cost of products sold. Net actuarial losses and prior service cost is included as a component of net periodic benefit cost – see Note 14 for additional information.

Business Acquisitions

12 Months Ended

Dec. 31, 2018

Business Acquisitions

Business Acquisitions

Note 7 — Business Acquisitions

On January 4, 2017, Abbott completed the acquisition of St. Jude Medical, a global medical device manufacturer, for approximately $23.6 billion, including approximately $13.6 billion in cash and approximately $10 billion in Abbott common shares, which represented approximately 254 million shares of Abbott common stock, based on Abbott’s closing stock price on the acquisition date. As part of the acquisition, approximately $5.9 billion of St. Jude Medical’s debt was assumed, repaid or refinanced by Abbott. The acquisition provides expanded opportunities for future growth and is an important part of the company's ongoing effort to develop a strong, diverse portfolio of devices, diagnostics, nutritionals and branded generic pharmaceuticals. The combined business competes in nearly every area of the cardiovascular device market, as well as in the neuromodulation market.

Under the terms of the agreement, for each St. Jude Medical common share, St. Jude Medical shareholders received $46.75 in cash and 0.8708 of an Abbott common share. At an Abbott stock price of $39.36, which reflects the closing price on January 4, 2017, this represented a value of approximately $81 per St. Jude Medical common share and total purchase consideration of $23.6 billion. The cash portion of the acquisition was funded through a combination of medium and long-term debt issued in November 2016 and a $2.0 billion 120-day senior unsecured bridge term loan facility which was subsequently repaid.

The final allocation of the fair value of the St. Jude Medical acquisition is shown in the table below.


(in billions)
Acquired intangible assets, non-deductible	$	15.5
Goodwill, non-deductible		13.1
Acquired net tangible assets		3.0
Deferred income taxes recorded at acquisition		(2.7)
Net debt		(5.3)
Total final allocation of fair value	$	23.6

The goodwill is primarily attributable to expected synergies from combining operations, as well as intangible assets that do not qualify for separate recognition. The goodwill is identifiable to the Cardiovascular and Neuromodulation Products reportable segment. The acquired tangible assets consist primarily of trade accounts receivable of approximately $1.1 billion, inventory of approximately $1.7 billion, other current assets of $176 million, property and equipment of approximately $1.5 billion, and other long-term assets of approximately $455 million. The acquired tangible liabilities consist of trade accounts payable and other current liabilities of approximately $1.1 billion and other non-current liabilities of approximately $870 million.

In 2016, Abbott and St. Jude Medical agreed to sell certain businesses to Terumo Corporation (Terumo) for approximately $1.12 billion. The sale included the St. Jude Medical Angio-Seal™ and Femoseal™ vascular closure and Abbott’s Vado® Steerable Sheath businesses. The sale closed on January 20, 2017 and no gain or loss was recorded in the Consolidated Statement of Earnings.

On October 3, 2017, Abbott acquired Alere, a diagnostic device and service provider, for $51.00 per common share in cash, which equated to a purchase price of approximately $4.5 billion. As part of the acquisition, Abbott tendered for Alere’s preferred shares for a total value of approximately $0.7 billion. In addition, approximately $3.0 billion of Alere’s debt was assumed and subsequently repaid. The acquisition establishes Abbott as a leader in point of care testing, expands Abbott’s global diagnostics presence and provides access to new products, channels and geographies. Abbott utilized a combination of cash on hand and debt to fund the acquisition. See Note 11 — Debt and Lines of Credit for further details regarding the debt utilized for the acquisition.

The final allocation of the fair value of the Alere acquisition is shown in the table below.


(in billions)
Acquired intangible assets, non-deductible	$	3.5
Goodwill, non-deductible		3.7
Acquired net tangible assets		1.0
Deferred income taxes recorded at acquisition		(0.4)
Net debt		(2.6)
Preferred stock		(0.7)
Total final allocation of fair value	$	4.5

The goodwill is primarily attributable to expected synergies from combining operations, as well as intangible assets that do not qualify for separate recognition. The goodwill is identifiable to the Diagnostic Products reportable segment. The approximate value of the acquired tangible assets is $430 million of trade accounts receivable, $425 million of inventory, $225 million of other current assets, $540 million of property and equipment, and $210 million of other long-term assets. The approximate value of the acquired tangible liabilities is $675 million of trade accounts payable and other current liabilities and $145 million of other non-current liabilities.

In the third quarter of 2017, Alere entered into agreements to sell its Triage MeterPro cardiovascular and toxicology business and the assets and liabilities related to its B-type Natriuretic Peptide assay business run on Beckman Coulter analyzers to Quidel. The transactions with Quidel reflect a total purchase price of $400 million payable at the close of the transaction, $240 million payable in six annual installments beginning approximately six months after the close of the transaction, and contingent consideration with a maximum value of $40 million. In the third quarter of 2017, Alere entered into an agreement with Siemens Diagnostics Holding II B.V. (Siemens) to sell its subsidiary, Epocal Inc., for approximately $200 million payable at the close of the transaction. Alere agreed to divest these businesses in connection with the review by the Federal Trade Commission and the European Commission of Abbott’s agreement to acquire Alere. The sale to Quidel closed on October 6, 2017, and the sale to Siemens closed on October 31, 2017. No gain or loss on these sales was recorded in the Consolidated Statement of Earnings.

In 2017, consolidated Abbott results include $6.5 billion of sales and a pre-tax loss of approximately $1.3 billion related to the St. Jude Medical and Alere acquisitions, including approximately $1.5 billion of intangible amortization and $907 million of inventory step-up amortization. The pre-tax loss excludes acquisition, integration and restructuring-related costs.

If the acquisitions of St. Jude Medical and Alere had occurred at the beginning of 2016, unaudited pro forma consolidated net sales would have been approximately $28.9 billion and the unaudited pro forma consolidated net loss from continuing operations would have been approximately $485 million in 2016. This includes amortization of approximately $940 million of inventory step-up and $1.7 billion of intangibles related to St. Jude Medical and Alere. For 2017, unaudited pro forma consolidated net sales would have been approximately $28.9 billion and unaudited pro forma consolidated net earnings from continuing operations would have been approximately $750 million, which includes $225 million of intangible amortization related to Alere. The unaudited pro forma consolidated net earnings from continuing operations for 2017 exclude inventory step-up amortization related to St. Jude Medical and Alere of approximately $907 million which was recorded in 2017 but included in the 2016 unaudited pro forma results as noted above. The unaudited pro forma information is not necessarily indicative of the consolidated results of operations that would have been realized had the St. Jude Medical and Alere acquisitions been completed as of the beginning of 2016, nor is it meant to be indicative of future results of operations that the combined entity will experience.

On July 17, 2017, Abbott commenced a tender offer to purchase for cash the 1.77 million outstanding shares of Alere’s Series B Convertible Perpetual Preferred Stock at a price of $402 per share, plus accrued but unpaid dividends to, but not including, the settlement date of the tender offer. This tender offer was subject to the satisfaction of certain conditions, including Abbott’s acquisition of Alere and upon there being validly tendered (and not properly withdrawn) at the expiration date of the tender offer that number of shares of Preferred Stock that equaled at least a majority of the Preferred Stock issued and outstanding at the expiration of the tender offer. The tender offer expired on October 3, 2017. All conditions to the offer were satisfied and Abbott accepted for payment the 1.748 million shares of Preferred Stock that were validly tendered (and not properly withdrawn). The remaining shares were cashed out for an amount equal to the $400.00 per share liquidation preference of such shares, plus accrued but unpaid dividends, without interest. Payment for all of the shares of Preferred Stock was made in the fourth quarter of 2017.

Goodwill and Intangible Assets	12 Months Ended
Goodwill and Intangible Assets	Dec. 31, 2018
Goodwill and Intangible Assets
Goodwill and Intangible Assets	Note 8 — Goodwill and Intangible Assets The total amount of goodwill reported was $23.3 billion at December 31, 2018 and $24.0 billion at December 31, 2017. The amounts reported at December 31, 2018 and 2017 exclude goodwill reported in non-current assets held for disposition. In 2018, foreign currency translation adjustments decreased goodwill by approximately $440 million. Purchase price accounting adjustments associated with the Alere acquisition decreased goodwill by $326 million in 2018. Goodwill increased by $17.2 billion in 2017 due to the completion of the St. Jude Medical and Alere acquisitions, partially offset by a decrease of $1.5 billion due to the sale of certain businesses to Terumo, Quidel and Siemens. Foreign currency translation increased goodwill by $653 million in 2017. The amount of goodwill related to reportable segments at December 31, 2018 was $3.0 billion for the Established Pharmaceutical Products segment, $286 million for the Nutritional Products segment, $3.7 billion for the Diagnostic Products segment, and $15.3 billion for the Cardiovascular and Neuromodulation Products segment. In 2018 and 2017, there were no significant reductions of goodwill relating to impairments. The gross amount of amortizable intangible assets, primarily product rights and technology was $25.7 billion and $25.6 billion as of December 31, 2018 and 2017, respectively, and accumulated amortization was $10.4 billion and $8.1 billion as of December 31, 2018 and 2017, respectively. In 2018, purchase price allocation adjustments increased intangible assets by $280 million and foreign currency translation adjustments decreased intangible assets by $281 million. In 2017, the gross amount of amortizable intangible assets increased by approximately $14.5 billion due to the completion of the St. Jude Medical and Alere acquisitions, partially offset by a decrease of $210 million due to the sale of certain businesses to Quidel and Siemens. Indefinite-lived intangible assets, which relate to in-process research and development acquired in a business combination, were approximately $3.6 billion and $3.9 billion at December 31, 2018 and 2017, respectively. The decrease in indefinite-lived intangible assets in 2018 primarily relates to purchase price allocation adjustments associated with the Alere acquisition. In 2017, in-process research and development increased by $4.5 billion due to the completion of the St. Jude Medical and Alere acquisitions, a portion of which became amortizable during the year. In 2017, Abbott also recorded a $53 million impairment of an in-process research and development project related to the Cardiovascular and Neuromodulation Products segment. The estimated annual amortization expense for intangible assets recorded at December 31, 2018 is approximately $2.0 billion in 2019, $2.2 billion in 2020, $2.1 billion in 2021, $2.0 billion in 2022 and $2.0 billion in 2023. Amortizable intangible assets are amortized over 2 to 20 years (weighted average 12 years).

Restructuring Plans

12 Months Ended

Dec. 31, 2018

Restructuring Plans

Restructuring Plans

Note 9 — Restructuring Plans

In 2017 and 2018, Abbott management approved restructuring plans as part of the integration of the acquisitions of St. Jude Medical into the Cardiovascular and Neuromodulation Products segment, and Alere into the Diagnostic Products segment, in order to leverage economies of scale and reduce costs. Abbott recorded employee related severance and other charges of approximately $52 million in 2018 and $187 million in 2017. Approximately $5 million in 2018 and 2017 is recorded in Cost of products sold, approximately $10 million in 2018 is recorded in Research and development, and approximately $37 million in 2018 and $182 million in 2017 are recorded in Selling, general and administrative expense. Abbott also assumed restructuring liabilities of approximately $23 million as part of the St Jude Medical and Alere acquisitions. The following summarizes the activity related to these actions and the status of the related accruals:


(in millions)
Liabilities assumed as part of business acquisitions	$	23
Restructuring charges		187
Payments and other adjustments		(142)
Accrued balance at December 31, 2017		68
Restructuring charges		52
Payments and other adjustments		(79)
Accrued balance at December 31, 2018	$	41

From 2016 to 2018, Abbott management approved plans to streamline operations in order to reduce costs and improve efficiencies in various Abbott businesses including the nutritional, established pharmaceuticals and vascular businesses. Abbott recorded employee related severance and other charges of approximately $28 million in 2018, $120 million in 2017 and $32 million in 2016. Approximately $10 million in 2018, $7 million in 2017, and $9 million in 2016 are recorded in Cost of products sold, approximately $2 million in 2018, $77 million in 2017 and $5 million in 2016 are recorded in Research and development and approximately $16 million in 2018, $36 million in 2017 and $18 million in 2016 are recorded in Selling, general and administrative expense. Additional charges of approximately $2 million in 2017 and 2016 were recorded primarily for accelerated depreciation.

The following summarizes the activity for these restructurings:


(in millions)
Restructuring charges	$	32
Payments and other adjustments		(15)
Accrued balance at December 31, 2016		17
Restructuring charges		120
Payments and other adjustments		(18)
Accrued balance at December 31, 2017		119
Restructuring charges		28
Payments and other adjustments		(77)
Accrued balance at December 31, 2018	$	70

Incentive Stock Program

12 Months Ended

Dec. 31, 2018

Incentive Stock Program

Incentive Stock Program

Note 10 — Incentive Stock Program

The 2017 Incentive Stock Program authorizes the granting of nonqualified stock options, restricted stock awards, restricted stock units, performance awards, foreign benefits and other share-based awards. Stock options and restricted stock awards and units comprise the majority of benefits that have been granted and are currently outstanding under this program and a prior program. In 2018, Abbott granted 5,760,221 stock options, 871,331 restricted stock awards and 8,093,546 restricted stock units under this program.

Under Abbott’s stock incentive programs, the purchase price of shares under option must be at least equal to the fair market value of the common stock on the date of grant, and the maximum term of an option is 10 years. Options generally vest equally over three years. Restricted stock awards generally vest over 3 years, with no more than one‑third of the award vesting in any one year upon Abbott reaching a minimum return on equity target. Restricted stock units vest over three years and upon vesting, the recipient receives one share of Abbott stock for each vested restricted stock unit. The aggregate fair market value of restricted stock awards and units is recognized as expense over the requisite service period, which may be shorter than the vesting period if an employee is retirement eligible. Forfeitures are estimated at the time of grant. Restricted stock awards and settlement of vested restricted stock units are issued out of treasury shares. Abbott generally issues new shares for exercises of stock options. As a policy, Abbott does not purchase its shares relating to its share‑based programs.

In April 2017, Abbott’s shareholders authorized the 2017 Incentive Stock Program under which a maximum of 170 million shares were available for issuance. At December 31, 2018, approximately 144 million shares remained available for future issuance.

In connection with the completion of the St. Jude Medical acquisition in the first quarter of 2017, unvested St. Jude Medical stock options and restricted stock units were assumed by Abbott and converted into Abbott options and restricted stock units (as applicable) of substantially equivalent value, in accordance with the merger agreement. The number of shares underlying the converted options was 7,364,571 at a weighted average exercise price of $30.50. The number of restricted stock units converted was 2,324,500 at a weighted average grant date fair value of $37.69.

The number of restricted stock awards and units outstanding and the weighted‑average grant‑date fair value at December 31, 2018 and December 31, 2017 was 15,952,602 and $52.11 and 15,518,719 and $42.82, respectively. The number of restricted stock awards and units, and the weighted‑average grant‑date fair value, that were granted, vested and lapsed during 2018 were 8,964,877 and $60.10, 7,522,375 and $42.85 and 1,008,619 and $49.27, respectively. The fair market value of restricted stock awards and units vested in 2018, 2017 and 2016 was $458 million, $348 million and $225 million, respectively.


	Options Outstanding				Exercisable Options
		Weighted		Weighted		Weighted		Weighted
		Average		Average		Average		Average
		Exercise		Remaining		Exercise		Remaining
	Shares	Price		Life (Years)	Shares	Price		Life (Years)
December 31, 2017	35,813,800	$	36.85	5.8	22,216,890	$	34.54	4.7
Granted	5,760,221		60.02
Exercised	(7,690,569)		30.34
Lapsed	(808,839)		44.77
December 31, 2018	33,074,613	$	42.21	6.3	21,660,783	$	38.05	5.3

The aggregate intrinsic value of options outstanding and exercisable at December 31, 2018 were $996 million and $743 million, respectively. The total intrinsic value of options exercised in 2018, 2017 and 2016 was $249 million, $233 million and $98 million, respectively. The total unrecognized compensation cost related to all share‑based compensation plans at December 31, 2018 amounted to approximately $364 million, which is expected to be recognized over the next three years.

Total non‑cash stock compensation expense charged against income from continuing operations in 2018, 2017 and 2016 for share‑based plans totaled approximately $477 million, $406 million and $310 million, respectively, and the tax benefit recognized was approximately $185 million, $242 million and $100 million, respectively. The decrease in the tax benefit in 2018 primarily relates to the Tax Cuts and Jobs Act (TCJA), which reduces the U.S. federal corporate tax rate from 35% to 21%. The increase in the 2017 tax benefit primarily relates to the $120 million of tax benefit recorded in income after the adoption of ASU 2016-09. Stock compensation cost capitalized as part of inventory is not significant.

The fair value of an option granted in 2018, 2017 and 2016 was $10.93, $6.54, and $4.38, respectively. The fair value of an option grant was estimated using the Black‑Scholes option‑pricing model with the following assumptions:


	2018		2017		2016
Risk-free interest rate	2.7	%	2.1	%	1.4	%
Average life of options (years)	6.0		6.0		6.0
Volatility	19.0	%	18.0	%	17.0	%
Dividend yield	1.9	%	2.4	%	2.7	%

The risk‑free interest rate is based on the rates available at the time of the grant for zero‑coupon U.S. government issues with a remaining term equal to the option’s expected life. The average life of an option is based on both historical and projected exercise and lapsing data. Expected volatility is based on implied volatilities from traded options on Abbott’s stock and historical volatility of Abbott’s stock over the expected life of the option. Dividend yield is based on the option’s exercise price and annual dividend rate at the time of grant.

Debt and Lines of Credit

12 Months Ended

Dec. 31, 2018

Debt and Lines of Credit

Debt and Lines of Credit

Note 11 — Debt and Lines of Credit

The following is a summary of long‑term debt at December 31: (in millions)


	2018		2017
5.125% Notes, due 2019	$	—	$	947
2.35% Notes, due 2019		—		2,850
2.50% Line of credit borrowing due 2019		—		1,150
0.00% Notes, due 2020		1,300		—
2.80% Notes, due 2020		500		500
4.125% Notes, due 2020		—		597
2.00% Notes, due 2020		—		750
2.90% Notes, due 2021		2,850		2,850
2.55% Notes, due 2022		750		750
2.62% Term loan due 2022		—		2,800
0.875% Notes, due 2023		1,303		—
3.25% Notes, due 2023		—		900
3.40% Notes, due 2023		1,050		1,500
3.875% Notes, due 2025		500		500
2.95% Notes, due 2025		1,000		1,000
1.50% Notes, due 2026		1,300		—
3.75% Notes, due 2026		1,700		3,000
4.75% Notes, due 2036		1,650		1,650
6.15% Notes, due 2037		547		547
6.00% Notes, due 2039		515		515
5.30% Notes, due 2040		694		694
4.75% Notes, due 2043		700		700
4.90% Notes, due 2046		3,250		3,250
Unamortized debt issuance costs		(102)		(119)
Other, including fair value adjustments relating to interest rate hedge contracts designated as fair value hedges		(148)		(121)
Total, net of current maturities		19,359		27,210
Current maturities of long-term debt		7		508
Total carrying amount	$	19,366	$	27,718

On February 16, 2018, the board of directors authorized the early redemption of up to $5 billion of outstanding long-term notes. Redemptions under this authorization include the following:

$0.947 billion principal amount of its 5.125% Notes due 2019 – redeemed on March 22, 2018

$1.055 billion of the $2.850 billion principal amount of its 2.35% Notes due 2019 – redeemed on March 22, 2018

$1.300 billion of the $1.795 billion outstanding principal amount of its 2.35% Notes due 2019 – redeemed on June 22, 2018

$0.495 billion outstanding principal amount of its 2.35% Notes due 2019 – redeemed on September 28, 2018

On January 25, 2019, Abbott gave notice to the holders of its 2.80% Notes due 2020, that it will redeem the $500 million outstanding principal amount of these notes on February 24, 2019. After the redemption of the 2.80% Notes, approximately $700 million of the $5 billion debt redemption authorization noted above will remain available.

Abbott incurred a net charge of $14 million related to the March 22, 2018 early repayment of debt.

On September 17, 2018, Abbott repaid upon maturity the $500 million aggregate principal amount outstanding of the 2.00% Senior Notes due 2018.

On September 27, 2018, Abbott’s wholly owned subsidiary, Abbott Ireland Financing DAC, completed a euro debt offering of €3.420 billion of long-term debt consisting of €1.140 billion of non-interest bearing Senior Notes due 2020 at 99.727% of par value; €1.140 billion of 0.875% Senior Notes due 2023 at 99.912% of par value; and €1.140 billion of 1.50% Senior Notes due 2026 at 99.723% of par value. The proceeds equated to approximately $4 billion. The notes are guaranteed by Abbott.

On October 28, 2018, Abbott redeemed approximately $4 billion of debt, which included $750 million principal amount of its 2.00% Notes due 2020; $597 million principal amount of its 4.125% Notes due 2020; $900 million principal amount of its 3.25% Notes due 2023; $450 million principal amount of its 3.4% Notes due 2023; and $1.300 billion principal amount of its 3.75% Notes due 2026. These amounts are in addition to the $5 billion authorization discussed above. In conjunction with the redemption, Abbott unwound approximately $1.1 billion in interest rate swaps relating to the 3.40% Note due in 2023 and the 3.75% Note due in 2026. Abbott incurred a net charge of $153 million related to the early repayment of this debt and the unwinding of related interest rate swaps.

On November 30, 2018, Abbott entered into a Five Year Credit Agreement (Revolving Credit Agreement) and terminated the 2014 revolving credit agreement. There were no outstanding borrowings under the 2014 revolving credit agreement at the time of its termination. The Revolving Credit Agreement provides Abbott with the ability to borrow up to $5 billion on an unsecured basis. Any borrowings under the Revolving Credit Agreement will mature and be payable on November 30, 2023. Any borrowings under the Revolving Credit Agreement will bear interest, at Abbott’s option, based on either a base rate or Eurodollar rate, plus an applicable margin based on Abbott’s credit ratings.

In the first quarter of 2017, as part of the acquisition of St. Jude Medical, Abbott’s long-term debt increased due to the assumption of outstanding debt previously issued by St. Jude Medical. Abbott exchanged certain St. Jude Medical debt obligations with an aggregate principal amount of approximately $2.9 billion for debt issued by Abbott which consists of:


	Principal Amount
2.00% Senior Notes due 2018	$	473.8	million
2.80% Senior Notes due 2020	$	483.7	million
3.25% Senior Notes due 2023	$	818.4	million
3.875% Senior Notes due 2025	$	490.7	million
4.75% Senior Notes due 2043	$	639.1	million

Following this exchange, approximately $194.2 million of existing St. Jude Medical notes remained outstanding across the five series of existing notes which have the same coupons and maturities as those listed above. There were no significant costs associated with the exchange of debt. In addition, during the first quarter of 2017, Abbott assumed and subsequently repaid approximately $2.8 billion of various St. Jude Medical debt obligations.

On January 4, 2017, as part of funding the cash portion of the St. Jude Medical acquisition, Abbott borrowed $2.0 billion under a 120-day senior unsecured bridge term loan facility. This facility was repaid during the first quarter of 2017.

In 2017, Abbott issued 364-day yen-denominated debt, of which $199 million and $195 million was outstanding at December 31, 2018 and 2017, respectively. In 2017, Abbott also paid off a $479 million yen-denominated short-term borrowing during the year.

On July 31, 2017, Abbott entered into a 5-year term loan agreement that allowed Abbott to borrow up to $2.8 billion on an unsecured basis for the acquisition of Alere. On October 3, 2017, Abbott borrowed $2.8 billion under this term loan agreement to finance the acquisition of Alere, to repay certain indebtedness of Abbott and Alere, and to pay fees and expenses in connection with the acquisition. Borrowings under the term loan bore interest based on a Eurodollar rate, plus an applicable margin based on Abbott’s credit ratings. Abbott paid off this term loan on January 5, 2018.

On October 3, 2017 Abbott borrowed $1.7 billion under its lines of credit. Proceeds from such borrowing were used to finance the acquisition of Alere, to repay certain indebtedness of Abbott and Alere, and to pay fees and expenses in connection with the acquisition. These lines of credit were part of a 2014 revolving credit agreement that provided Abbott with the ability to borrow up to $5 billion on an unsecured basis. Advances under the revolving credit agreement, including the $1.7 billion borrowing in October 2017, were scheduled to mature and be payable on July 10, 2019. The $1.7 billion borrowing bore interest based on a Eurodollar rate, plus an applicable margin based on Abbott’s credit ratings. Prior to October 3, 2017, no amounts were previously drawn under the revolving credit agreement. In the fourth quarter of 2017, Abbott paid off $550 million on the revolving loan. Abbott paid off the remaining balance on this revolving loan on January 5, 2018.

In the fourth quarter of 2017, in conjunction with the acquisition of Alere, Abbott assumed and subsequently repaid $3.0 billion of Alere’s debt.

In November 2016, Abbott issued $15.1 billion of medium and long-term debt to primarily fund the cash portion of the acquisition of St. Jude Medical. Abbott issued $2.85 billion of 2.35% Senior Notes due November 22, 2019; $2.85 billion of 2.90% Senior Notes due November 30, 2021; $1.50 billion of 3.40% Senior Notes due November 30, 2023; $3.00 billion of 3.75% Senior Notes due November 30, 2026; $1.65 billion of 4.75% Senior Notes due November 30, 2036; and $3.25 billion of 4.90% Senior Notes due November 30, 2046. In November 2016, Abbott also entered into interest rate swap contracts totaling $3.0 billion related to the new debt, which have the effect of changing Abbott’s obligation from a fixed interest rate to a variable interest rate obligation on the related debt instruments.

In February 2016, Abbott obtained a commitment for a 364-day senior unsecured bridge term loan facility for an amount not to exceed $9 billion in conjunction with its pending acquisition of Alere. This commitment, which was automatically extended for up to 90 days on January 29, 2017, expired on April 30, 2017 and was not renewed since Abbott did not need this bridge facility to finance the Alere acquisition. The fees associated with the bridge facilities were recognized in interest expense.

Principal payments required on long‑term debt outstanding at December 31, 2018 are $7 million in 2019, $1.8 billion in 2020, $2.9 billion in 2021, $750 million in 2022, $2.3 billion in 2023 and $11.8 billion in 2024 and thereafter.

At December 31, 2018, Abbott’s long-term debt rating was BBB by Standard & Poor’s Corporation and Baa1 by Moody’s. Abbott has readily available financial resources, including lines of credit of $5.0 billion which expire in 2023 and support commercial paper borrowing arrangements. Abbott’s weighted-average interest rate on short-term borrowings was 0.4% at December 31, 2018, 0.3% at December 31, 2017 and 0.6% at December 31, 2016.

Financial Instruments, Derivatives and Fair Value Measures

12 Months Ended

Dec. 31, 2018

Financial Instruments, Derivatives and Fair Value Measures

Financial Instruments, Derivatives and Fair Value Measures

Note 12 — Financial Instruments, Derivatives and Fair Value Measures

Certain Abbott foreign subsidiaries enter into foreign currency forward exchange contracts to manage exposures to changes in foreign exchange rates for anticipated intercompany purchases by those subsidiaries whose functional currencies are not the U.S. dollar. These contracts, with gross notional amounts totaling $5.1 billion at December 31, 2018, and $3.3 billion at December 31, 2017, are designated as cash flow hedges of the variability of the cash flows due to changes in foreign exchange rates and are recorded at fair value. Accumulated gains and losses as of December 31, 2018 will be included in Cost of products sold at the time the products are sold, generally through the next twelve to eighteen months.

Abbott enters into foreign currency forward exchange contracts to manage currency exposures for foreign currency denominated third‑party trade payables and receivables, and for intercompany loans and trade accounts payable where the receivable or payable is denominated in a currency other than the functional currency of the entity. For intercompany loans, the contracts require Abbott to sell or buy foreign currencies, primarily European currencies, in exchange for primarily U.S. dollars and European currencies. For intercompany and trade payables and receivables, the currency exposures are primarily the U.S. dollar and European currencies. At December 31, 2018, 2017 and 2016, Abbott held gross notional amounts of $13.6 billion, $20.1 billion and $14.9 billion, respectively, of such foreign currency forward exchange contracts.

In March 2017, Abbott repaid its $479 million foreign denominated short-term debt which was designated as a hedge of the net investment in a foreign subsidiary. At December 31, 2016, the value of this short-term debt was $454 million and changes in the fair value of the debt up through the date of repayment due to changes in exchange rates were recorded in Accumulated other comprehensive income (loss), net of tax.

Abbott is a party to interest rate hedge contracts totaling approximately $2.9 billion at December 31, 2018, $4.0 billion at December 31, 2017 and $5.5 billion at December 31, 2016, to manage its exposure to changes in the fair value of fixed‑rate debt. These contracts are designated as fair value hedges of the variability of the fair value of fixed‑rate debt due to changes in the long‑term benchmark interest rates. The effect of the hedge is to change a fixed‑rate interest obligation to a variable rate for that portion of the debt. Abbott records the contracts at fair value and adjusts the carrying amount of the fixed‑rate debt by an offsetting amount.

In October 2018, Abbott unwound approximately $1.1 billion in interest rate swaps relating to the 3.40% Note due in 2023 and the 3.75% Note due in 2026. As a part of the unwinding, Abbott paid approximately $90 million in cash, which was included in the Financing Activities section of the Consolidated Statement of Cash Flows in 2018.

In the second quarter of 2017, Abbott unwound approximately $1.5 billion in interest rate swaps relating to the 2.00% Note due in 2020 and the 2.55% Note due in 2022. The proceeds received were not significant.

In December 2016, Abbott unwound approximately $1.5 billion in interest rate swaps relating to the 4.125% Note due in 2020 and the 5.125% Note due in 2019. As part of the unwinding, Abbott received approximately $55 million in cash, which was included in the Financing Activities section of the Consolidated Statement of Cash Flows in 2016.

The following table summarizes the amounts and location of certain derivative financial instruments as of December 31:


	Fair Value — Assets					Fair Value — Liabilities
(in millions)	2018		2017		Balance Sheet Caption	2018		2017		Balance Sheet Caption
Interest rate swaps designated as fair value hedges	$	—	$	—	Deferred income taxes and other assets	$	100	$	93	Post-employment obligations and other long-term liabilities
Foreign currency forward exchange contracts —
Hedging instruments		81		21	Other prepaid expenses and receivables		44		106	Other accrued liabilities
Others not designated as hedges		33		117	Other prepaid expenses and receivables		51		99	Other accrued liabilities
	$	114	$	138		$	195	$	298

The following table summarizes the activity for foreign currency forward exchange contracts designated as cash flow hedges, debt designated as a hedge of net investment in a foreign subsidiary and certain other derivative financial instruments, as well as the amounts and location of income (expense) and gain (loss) reclassified into income.


	Gain (loss) Recognized in						Income (expense) and
	Other Comprehensive						Gain (loss) Reclassified
	Income (loss)						into Income						Income Statement
(in millions)	2018		2017		2016		2018		2017		2016		Caption
Foreign currency forward exchange contracts designated as cash flow hedges	$	73	$	(226)	$	49	$	(114)	$	(48)	$	48	Cost of products sold
Debt designated as a hedge of net investment in a foreign subsidiary		—		(25)		(15)		n/a		n/a		n/a	n/a
Interest rate swaps designated as fair value hedges		n/a		n/a		n/a		(97)		(24)		(127)	Interest expense

Losses of $100 million and $64 million, and gains of $8 million were recognized in 2018, 2017 and 2016, respectively, related to foreign currency forward exchange contracts not designated as hedges. These amounts are reported in the Consolidated Statement of Earnings on the Net foreign exchange (gain) loss line.

The interest rate swaps are designated as fair value hedges of the variability of the fair value of fixed‑rate debt due to changes in the long‑term benchmark interest rates. The hedged debt is marked to market, offsetting the effect of marking the interest rate swaps to market.

The carrying values and fair values of certain financial instruments as of December 31 are shown in the table below. The carrying values of all other financial instruments approximate their estimated fair values. The counterparties to financial instruments consist of select major international financial institutions. Abbott does not expect any losses from nonperformance by these counterparties.


	2018				2017
	Carrying		Fair		Carrying		Fair
(in millions)	Value		Value		Value		Value
Long-term Investment Securities:
Equity securities	$	856	$	856	$	797	$	797
Other		41		41		86		86
Total Long-Term Debt		(19,366)		(19,871)		(27,718)		(29,018)
Foreign Currency Forward Exchange Contracts:
Receivable position		114		114		138		138
(Payable) position		(95)		(95)		(205)		(205)
Interest Rate Hedge Contracts:
(Payable) position		(100)		(100)		(93)		(93)

The following table summarizes the bases used to measure certain assets and liabilities at fair value on a recurring basis in the balance sheet:


			Basis of Fair Value Measurement
			Quoted		Significant Other		Significant
	Outstanding		Prices in		Observable		Unobservable
(in millions)	Balances		Active Markets		Inputs		Inputs
December 31, 2018:
Equity securities	$	320	$	320	$	—	$	—
Foreign currency forward exchange contracts		114		—		114		—
Total Assets	$	434	$	320	$	114	$	—
Fair value of hedged long-term debt	$	2,743	$	—	$	2,743	$	—
Interest rate swap financial instruments		100		—		100		—
Foreign currency forward exchange contracts		95		—		95		—
Contingent consideration related to business combinations		71		—		—		71
Total Liabilities	$	3,009	$	—	$	2,938	$	71
December 31, 2017:
Equity securities	$	374	$	374	$	—	$	—
Foreign currency forward exchange contracts		138		—		138		—
Total Assets	$	512	$	374	$	138	$	—
Fair value of hedged long-term debt	$	3,898	$	—	$	3,898	$	—
Interest rate swap financial instruments		93		—		93		—
Foreign currency forward exchange contracts		205		—		205		—
Contingent consideration related to business combinations		120		—		—		120
Total Liabilities	$	4,316	$	—	$	4,196	$	120

The fair value of foreign currency forward exchange contracts is determined using a market approach, which utilizes values for comparable derivative instruments. The fair value of the debt was determined based on the face value of the debt adjusted for the fair value of the interest rate swaps, which is based on a discounted cash flow analysis using significant other observable inputs.

Contingent consideration relates to businesses acquired by Abbott. The fair value of the contingent consideration was determined based on independent appraisals, at the time of the business acquisition, adjusted for the time value of money and other changes in fair value. The maximum amount for certain contingent consideration is not determinable as it is based on a percent of certain sales. Excluding such contingent consideration, the maximum amount estimated to be due is approximately $480 million, which is dependent upon attaining certain sales thresholds or based on the occurrence of certain events, such as regulatory approvals.

Litigation and Environmental Matters	12 Months Ended
Litigation and Environmental Matters	Dec. 31, 2018
Litigation and Environmental Matters
Litigation and Environmental Matters	Note 13 — Litigation and Environmental Matters Abbott has been identified as a potentially responsible party for investigation and cleanup costs at a number of locations in the United States and Puerto Rico under federal and state remediation laws and is investigating potential contamination at a number of company‑owned locations. Abbott has recorded an estimated cleanup cost for each site for which management believes Abbott has a probable loss exposure. No individual site cleanup exposure is expected to exceed $4 million, and the aggregate cleanup exposure is not expected to exceed $10 million. Abbott is involved in various claims and legal proceedings, and Abbott estimates the range of possible loss for its legal proceedings and environmental exposures to be from approximately $125 million to $165 million. The recorded accrual balance at December 31, 2018 for these proceedings and exposures was approximately $145 million. This accrual represents management’s best estimate of probable loss, as defined by FASB ASC No. 450, “Contingencies.” Within the next year, legal proceedings may occur that may result in a change in the estimated loss accrued by Abbott. While it is not feasible to predict the outcome of all such proceedings and exposures with certainty, management believes that their ultimate disposition should not have a material adverse effect on Abbott’s financial position, cash flows, or results of operations.

Post-Employment Benefits

12 Months Ended

Dec. 31, 2018

Post-Employment Benefits

Post-Employment Benefits

Note 14 — Post‑Employment Benefits

Retirement plans consist of defined benefit, defined contribution and medical and dental plans. Information for Abbott’s major defined benefit plans and post‑employment medical and dental benefit plans is as follows:


	Defined Benefit				Medical and
	Plans				Dental Plans
(in millions)	2018		2017		2018		2017
Projected benefit obligations, January 1	$	9,953	$	8,517	$	1,393	$	1,274
Service cost — benefits earned during the year		293		283		26		25
Interest cost on projected benefit obligations		308		287		48		45
(Gains) losses, primarily changes in discount rates, plan design changes, law changes and differences between actual and estimated health care costs		(1,044)		752		(106)		149
Benefits paid		(295)		(276)		(68)		(80)
Other, including foreign currency translation		(122)		390		(1)		(20)
Projected benefit obligations, December 31	$	9,093	$	9,953	$	1,292	$	1,393
Plan assets at fair value, January 1	$	9,298	$	7,542	$	419	$	416
Actual return (loss) on plans’ assets		(450)		1,107		(20)		65
Company contributions		114		645		12		12
Benefits paid		(295)		(276)		(60)		(74)
Other, including foreign currency translation		(114)		280		—		—
Plan assets at fair value, December 31	$	8,553	$	9,298	$	351	$	419
Projected benefit obligations greater than plan assets, December 31	$	(540)	$	(655)	$	(941)	$	(974)
Long-term assets	$	583	$	563	$	—	$	—
Short-term liabilities		(23)		(21)		(1)		(2)
Long-term liabilities		(1,100)		(1,197)		(940)		(972)
Net liability	$	(540)	$	(655)	$	(941)	$	(974)
Amounts Recognized in Accumulated Other Comprehensive Income (loss):
Actuarial losses, net	$	3,326	$	3,466	$	361	$	456
Prior service cost (credits)		(2)		(9)		(163)		(208)
Total	$	3,324	$	3,457	$	198	$	248

The projected benefit obligations for non‑U.S. defined benefit plans was $2.7 billion and $3.0 billion at December 31, 2018 and 2017, respectively. The accumulated benefit obligations for all defined benefit plans were $8.3 billion and $8.9 billion at December 31, 2018 and 2017, respectively.

For plans where the accumulated benefit obligations exceeded plan assets at December 31, 2018 and 2017, the aggregate accumulated benefit obligations, the projected benefit obligations and the aggregate plan assets were as follows:


(in millions)	2018		2017
Accumulated benefit obligation	$	1,265	$	1,664
Projected benefit obligation		1,362		1,892
Fair value of plan assets		375		696

The components of the net periodic benefit cost were as follows:


							Medical and
	Defined Benefit Plans						Dental Plans
(in millions)	2018		2017		2016		2018		2017		2016
Service cost — benefits earned during the year	$	293	$	283	$	263	$	26	$	25	$	26
Interest cost on projected benefit obligations		308		287		288		48		45		43
Expected return on plans’ assets		(680)		(613)		(565)		(33)		(33)		(35)
Amortization of actuarial losses		205		163		129		33		23		16
Amortization of prior service cost (credits)		1		1		—		(45)		(45)		(45)
Total cost	$	127	$	121	$	115	$	29	$	15	$	5

In 2017, Abbott recognized a $10 million curtailment gain related to the sale of AMO.

Other comprehensive income (loss) for each respective year includes the amortization of actuarial losses and prior service costs (credits) as noted in the previous table. Other comprehensive income (loss) for each respective year also includes: net actuarial losses of $86 million for defined benefit plans and a gain of $53 million for medical and dental plans in 2018; net actuarial losses of $247 million for defined benefit plans and $97 million for medical and dental plans in 2017; net actuarial losses of $571 million for defined benefit plans and $20 million for medical and dental plans in 2016.

The pretax amount of actuarial losses and prior service cost (credits) included in Accumulated other comprehensive income (loss) at December 31, 2018 that is expected to be recognized in the net periodic benefit cost in 2019 is $130 million and $1 million of expense, respectively, for defined benefit pension plans and $24 million of expense and $32 million of income, respectively, for medical and dental plans.

The weighted average assumptions used to determine benefit obligations for defined benefit plans and medical and dental plans are as follows:


	2018		2017		2016
Discount rate	4.0	%	3.4	%	3.9	%
Expected aggregate average long-term change in compensation	4.3	%	4.4	%	4.3	%

The weighted average assumptions used to determine the net cost for defined benefit plans and medical and dental plans are as follows:


	2018		2017		2016
Discount rate	3.4	%	3.9	%	4.3	%
Expected return on plan assets	7.7	%	7.6	%	7.6	%
Expected aggregate average long-term change in compensation	4.4	%	4.3	%	4.3	%

The assumed health care cost trend rates for medical and dental plans at December 31 were as follows:


	2018		2017		2016
Health care cost trend rate assumed for the next year	9	%	9	%	8	%
Rate that the cost trend rate gradually declines to	5	%	5	%	5	%
Year that rate reaches the assumed ultimate rate	2025		2027		2027

The discount rates used to measure liabilities were determined based on high‑quality fixed income securities that match the duration of the expected retiree benefits. The health care cost trend rates represent Abbott’s expected annual rates of change in the cost of health care benefits and are forward projections of health care costs as of the measurement date. A one‑percentage point increase/(decrease) in the assumed health care cost trend rate would increase/(decrease) the accumulated post‑employment benefit obligations as of December 31, 2018, by $157 million /$(131) million, and the total of the service and interest cost components of net post‑employment health care cost for the year then ended by approximately $12 million/$(10) million.

The following table summarizes the basis used to measure the defined benefit and medical and dental plan assets at fair value:


			Basis of Fair Value Measurement
					Significant
			Quoted		Other		Significant
	Outstanding		Prices in		Observable		Unobservable		Measured at
	Balances		Active Markets		Inputs		Inputs		NAV (k)
(in millions)
December 31, 2018:
Equities:
U.S. large cap (a)	$	2,168	$	1,319	$	5	$	—	$	844
U.S. mid and small cap (b)		515		226		—		—		289
International (c)		1,671		370		—		—		1,301
Fixed income securities:
U.S. government securities (d)		476		51		269		—		156
Corporate debt instruments (e)		1,150		269		701		—		180
Non-U.S. government securities (f)		405		5		—		—		400
Other (g)		199		15		55		—		129
Absolute return funds (h)		1,684		448		—		—		1,236
Commodities (i)		59		—		—		4		55
Cash and Cash Equivalents		192		123		—		—		69
Other (j)		385		11		—		—		374
	$	8,904	$	2,837	$	1,030	$	4	$	5,033
December 31, 2017:
Equities:
U.S. large cap (a)	$	2,506	$	1,600	$	—	$	—	$	906
U.S. mid and small cap (b)		670		243		—		—		427
International (c)		1,937		448		—		—		1,489
Fixed income securities:
U.S. government securities (d)		510		11		286		—		213
Corporate debt instruments (e)		930		107		411		—		412
Non-U.S. government securities (f)		625		222		—		—		403
Other (g)		216		93		27		—		96
Absolute return funds (h)		1,814		135		—		—		1,679
Commodities (i)		60		—		—		4		56
Cash and Cash Equivalents		178		12		—		—		166
Other (j)		271		7		—		—		264
	$	9,717	$	2,878	$	724	$	4	$	6,111

(a)

A mix of index funds and actively managed equity accounts that are benchmarked to various large cap indices.

(b)

A mix of index funds and actively managed equity accounts that are benchmarked to various mid and small cap indices.

(c)

A mix of index funds and actively managed pooled investment funds that are benchmarked to various non-U.S. equity indices in both developed and emerging markets.

(d)

A mix of index funds and actively managed accounts that are benchmarked to various U.S. government bond indices.

(e)

A mix of index funds and actively managed accounts that are benchmarked to various corporate bond indices.

(f)

Primarily United Kingdom, Japan and Irish government-issued bonds. In 2017, included Netherlands bonds.

(g)

Primarily asset backed securities and an actively managed, diversified fixed income vehicle benchmarked to the one-month Libor / Euribor.

(h)

Primarily funds invested by managers that have a global mandate with the flexibility to allocate capital broadly across a wide range of asset classes and strategies including, but not limited to equities, fixed income, commodities, interest rate futures, currencies and other securities to outperform an agreed upon benchmark with specific return and volatility targets.

(i)

Primarily investments in liquid commodity future contracts and private energy funds.

(j)

Primarily investments in private funds, such as private equity, private credit and private real estate.

(k)

In accordance with ASU 2015-07, investments measured at fair value using the NAV practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheet.

Equities that are valued using quoted prices are valued at the published market prices. Equities in a common collective trust or a registered investment company that are valued using significant other observable inputs are valued at the net asset value (NAV) provided by the fund administrator. The NAV is based on the value of the underlying assets owned by the fund minus its liabilities. For approximately half of these funds, investments may be redeemed once per month, with a required 7 to 30 day notice period. For the remaining funds, daily redemption of an investment is allowed. Fixed income securities that are valued using significant other observable inputs are valued at prices obtained from independent financial service industry recognized vendors. Abbott did not have any unfunded commitments related to fixed income funds at December 31, 2018 and 2017. For the majority of these funds, investments may be redeemed either weekly or monthly, with a required 2 to 14 day notice period. For the remaining funds, investments may be generally redeemed daily.

Absolute return funds and commodities are valued at the NAV provided by the fund administrator. All private funds are valued at the NAV provided by the fund on a one-quarter lag adjusted for known cash flows and significant events through the reporting date. Abbott did not have any unfunded commitments related to absolute return funds at December 31, 2018 and 2017. Investments in these funds may be generally redeemed monthly or quarterly with required notice periods ranging from 5 to 45 days. For approximately $100 million of the absolute return funds, redemptions are subject to a 25 percent gate. For commodities, investments in the private energy funds cannot be redeemed but the funds will make distributions through liquidation. The estimate of the liquidation period for each fund ranges from 2019 to 2022. Abbott’s unfunded commitments in these funds as of December 31, 2018 and 2017 were not significant. Investments in the private funds (excluding private energy funds) cannot be redeemed but the funds will make distributions through liquidation. The estimate of the liquidation period for each fund ranges from 2019 to 2028. Abbott’s unfunded commitment in these funds was $518 million and $489 million as of December 31, 2018 and 2017, respectively.

The investment mix of equity securities, fixed income and other asset allocation strategies is based upon achieving a desired return, as well as balancing higher return, more volatile equity securities with lower return, less volatile fixed income securities. Investment allocations are made across a range of markets, industry sectors, capitalization sizes, and in the case of fixed income securities, maturities and credit quality. The plans do not directly hold any securities of Abbott. There are no known significant concentrations of risk in the plans’ assets. Abbott’s medical and dental plans’ assets are invested in a similar mix as the pension plan assets. The actual asset allocation percentages at year end are consistent with the company’s targeted asset allocation percentages.

The plans’ expected return on assets, as shown above is based on management’s expectations of long‑term average rates of return to be achieved by the underlying investment portfolios. In establishing this assumption, management considers historical and expected returns for the asset classes in which the plans are invested, as well as current economic and capital market conditions.

Abbott funds its domestic pension plans according to IRS funding limitations. International pension plans are funded according to similar regulations. Abbott funded $114 million in 2018 and $645 million in 2017 to defined pension plans. Abbott expects to contribute approximately $380 million to its pension plans in 2019.

Total benefit payments expected to be paid to participants, which includes payments funded from company assets, as well as paid from the plans, are as follows:


	Defined		Medical and
(in millions)	Benefit Plans		Dental Plans
2019	$	306	$	74
2020		317		77
2021		333		78
2022		351		79
2023		369		80
2024 to 2028		2,160		418

The Abbott Stock Retirement Plan is the principal defined contribution plan. Abbott’s contributions to this plan were $146 million in 2018, $79 million in 2017 and $83 million in 2016. The 2018 contributions include amounts related to participants of the St. Jude Medical Retirement Plan which was terminated in January 2018.

Taxes on Earnings from Continuing Operations

12 Months Ended

Dec. 31, 2018

Taxes on Earnings from Continuing Operations

Taxes on Earnings from Continuing Operations

Note 15 — Taxes on Earnings from Continuing Operations

Taxes on earnings from continuing operations reflect the annual effective rates, including charges for interest and penalties. Deferred income taxes reflect the tax consequences on future years of differences between the tax bases of assets and liabilities and their financial reporting amounts.

The Tax Cuts and Jobs Act (TCJA) was enacted in the U.S. on December 22, 2017. The TCJA reduces the U.S. federal corporate tax rate from 35% to 21%, requires companies to pay a one-time transition tax on earnings of certain foreign subsidiaries that were previously tax deferred and creates new taxes on certain foreign sourced earnings. As of December 31, 2018, Abbott has completed its accounting for all of the enactment date income tax effects of the TCJA. If additional regulations issued by the U.S. Department of the Treasury after December 31, 2018 result in a change in judgment, the effect of such regulations will be accounted for in the period in which the regulations are finalized.

Effective for fiscal years beginning after December 31, 2017, the TCJA subjects taxpayers to tax on global intangible low-taxed income (GILTI) earned by certain foreign subsidiaries. In January 2018, the FASB staff provided guidance that an entity may make an accounting policy election to either recognize deferred taxes related to items that will give rise to GILTI in future years or provide for the tax expense related to GILTI in the year that the tax is incurred. Abbott has elected to treat the GILTI tax as a period expense and provide for the tax in the year that the tax is incurred.

In the fourth quarter of 2017, Abbott recorded an estimate of net tax expense of $1.46 billion for the impact of the TCJA, which was included in Taxes on Earnings from Continuing Operations in the Consolidated Statement of Earnings. The estimate was provisional and included a charge of approximately $2.89 billion for the transition tax, partially offset by a net benefit of approximately $1.42 billion for the remeasurement of deferred tax assets and liabilities, and a net benefit of approximately $10 million related to certain other impacts of the TCJA. In 2018, Abbott recorded $130 million of additional tax expense which increased the final tax expense related to the TCJA to $1.59 billion. The $130 million of additional tax expense reflects a $120 million increase in the transition tax from $2.89 billion to $3.01 billion and a $10 million reduction in the net benefit related to the remeasurement of deferred tax assets and liabilities.

The one-time transition tax is based on Abbott’s total post-1986 earnings and profits (E&P) that were previously deferred from U.S. income taxes. The tax computation also requires the determination of the amount of post-1986 E&P considered held in cash and other specified assets. As of December 31, 2018, the remaining balance of Abbott’s transition tax obligation is approximately $1.58 billion, which will be paid over the next eight years as allowed by the TCJA.

In 2018, taxes on earnings from continuing operations includes $98 million of net tax expense related to the settlement of Abbott’s 2014-2016 federal income tax audit in the U.S., partial settlement of the former St. Jude Medical consolidated group’s 2014 and 2015 federal income tax returns in the U.S. and audit settlements in various countries. In 2017, taxes on earnings from continuing operations included $435 million of tax expense related to the gain on the sale of the AMO business. In 2016, taxes on earnings from continuing operations included the impact of a net tax benefit of approximately $225 million, primarily as a result of the resolution of various tax positions from prior years, partially offset by the unfavorable impact of non-deductible foreign exchange losses related to Venezuela and the adjustment of the Mylan N.V. equity investment, as well as the recognition of deferred taxes associated with the then pending sale of AMO.

Undistributed foreign earnings remain indefinitely reinvested in foreign operations. Determining the amount of unrecognized deferred tax liability related to any remaining undistributed foreign earnings not subject to the transition tax and additional outside basis difference in its foreign entities is not practicable. In the U.S., Abbott’s federal income tax returns through 2016 are settled except for the federal income tax returns of the former Alere consolidated group which are settled through 2014 and the former St. Jude Medical consolidated group which are settled through 2013. There are numerous other income tax jurisdictions for which tax returns are not yet settled, none of which are individually significant. Reserves for interest and penalties are not significant.

Earnings from continuing operations before taxes, and the related provisions for taxes on earnings from continuing operations, were as follows:


(in millions)	2018		2017		2016
Earnings From Continuing Operations Before Taxes:
Domestic	$	(430)	$	308	$	306
Foreign		3,303		1,923		1,107
Total	$	2,873	$	2,231	$	1,413


Taxes on Earnings From Continuing Operations:
Current:
Domestic	$	(812)	$	2,260	$	71
Foreign		606		508		406
Total current		(206)		2,768		477
Deferred:
Domestic		832		(679)		(147)
Foreign		(87)		(211)		20
Total deferred		745		(890)		(127)
Total	$	539	$	1,878	$	350

Differences between the effective income tax rate and the U.S. statutory tax rate were as follows:


	2018		2017		2016
Statutory tax rate on earnings from continuing operations	21.0	%	35.0	%	35.0	%
Impact of foreign operations	(5.4)		(16.3)		(17.8)
Impact of TCJA and other related items	6.3		65.5		—
Foreign-derived intangible income benefit	(1.9)		—		—
Domestic impairment loss	(2.1)		—		—
Excess tax benefits related to stock compensation	(3.1)		(5.4)		—
Research tax credit	(1.8)		(1.9)		(1.8)
Resolution of certain tax positions pertaining to prior years	3.4		—		(16.1)
Mylan share adjustment	—		—		25.5
State taxes, net of federal benefit	0.4		0.5		(1.3)
Federal tax cost on sale of Mylan N.V. shares	—		3.4		—
All other, net	2.0		3.4		1.3
Effective tax rate on earnings from continuing operations	18.8	%	84.2	%	24.8	%

Impact of foreign operations is primarily derived from operations in Puerto Rico, Switzerland, Ireland, the Netherlands, Costa Rica, and Singapore.

The tax effect of the differences that give rise to deferred tax assets and liabilities were as follows:


(in millions)	2018		2017
Deferred tax assets:
Compensation and employee benefits	$	829	$	881
Other, primarily reserves not currently deductible, and NOL’s and credit carryforwards		2,546		2,857
Trade receivable reserves		196		185
Inventory reserves		97		152
Deferred intercompany profit		203		249
Total deferred tax assets before valuation allowance		3,871		4,324
Valuation allowance		(1,363)		(1,355)
Total deferred tax assets		2,508		2,969
Deferred tax liabilities:
Depreciation		(226)		(200)
Other, primarily the excess of book basis over tax basis of intangible assets		(3,557)		(3,385)
Total deferred tax liabilities		(3,783)		(3,585)
Total net deferred tax assets (liabilities)	$	(1,275)	$	(616)

Abbott has incurred losses in a foreign jurisdiction where realization of the future economic benefit is so remote that the benefit is not reflected as a deferred tax asset.

The following table summarizes the gross amounts of unrecognized tax benefits without regard to reduction in tax liabilities or additions to deferred tax assets and liabilities if such unrecognized tax benefits were settled:


(in millions)	2018		2017
January 1	$	1,440	$	972
Decrease in tax positions due to acquisitions		(13)		—
Increase in tax positions due to acquisitions		—		479
Increase due to current year tax positions		164		187
Increase due to prior year tax positions		235		76
Decrease due to prior year tax positions		(611)		(176)
Settlements		(91)		(57)
Lapse of statute		(4)		(41)
December 31	$	1,120	$	1,440

The total amount of unrecognized tax benefits that, if recognized, would impact the effective tax rate is approximately $1.02 billion. Abbott believes that it is reasonably possible that the recorded amount of gross unrecognized tax benefits may decrease within a range of $125 million to $350 million, including cash adjustments, within the next twelve months as a result of concluding various domestic and international tax matters.

Segment and Geographic Area Information

12 Months Ended

Dec. 31, 2018

Segment and Geographic Area Information

Segment and Geographic Area Information

Note 16 — Segment and Geographic Area Information

Abbott’s principal business is the discovery, development, manufacture and sale of a broad line of health care products. Abbott’s products are generally sold directly to retailers, wholesalers, hospitals, health care facilities, laboratories, physicians’ offices and government agencies throughout the world. On January 4, 2017, Abbott completed the acquisition of St. Jude Medical. Beginning with the first quarter of 2017, Abbott’s cardiovascular and neuromodulation business includes the results of its historical Vascular Products segment and the results of the businesses acquired from St. Jude Medical from the date of acquisition. On October 3, 2017, Abbott completed the acquisition of Alere. Beginning with the fourth quarter of 2017, Abbott’s Diagnostic Products reportable segment includes the results of Alere from the date of acquisition.

Abbott’s reportable segments are as follows:

Established Pharmaceutical Products—International sales of a broad line of branded generic pharmaceutical products.

Nutritional Products—Worldwide sales of a broad line of adult and pediatric nutritional products.

Diagnostic Products—Worldwide sales of diagnostic systems and tests for blood banks, hospitals, commercial laboratories and alternate-care testing sites. For segment reporting purposes, the Core Laboratories Diagnostics, Rapid Diagnostics, Molecular Diagnostics and Point of Care divisions are aggregated and reported as the Diagnostic Products segment. Rapid Diagnostics is the business acquired from Alere.

Cardiovascular and Neuromodulation Products — Worldwide sales of rhythm management, electrophysiology, heart failure, vascular, structural heart and neuromodulation products. For segment reporting purposes, the Cardiac Arrhythmias & Heart Failure, Vascular, Neuromodulation and Structural Heart divisions are aggregated and reported as the Cardiovascular and Neuromodulation segment.

Non-reportable segments include AMO through the date of sale and Diabetes Care.

Abbott's underlying accounting records are maintained on a legal entity basis for government and public reporting requirements. Segment disclosures are on a performance basis consistent with internal management reporting. The cost of some corporate functions and the cost of certain employee benefits are charged to segments at predetermined rates that approximate cost. Remaining costs, if any, are not allocated to segments. In addition, intangible asset amortization is not allocated to operating segments, and intangible assets and goodwill are not included in the measure of each segment’s assets. The following segment information has been prepared in accordance with the internal accounting policies of Abbott, as described above, and are not presented in accordance with generally accepted accounting principles applied to the consolidated financial statements.


	Net Sales to External Customers (a)						Operating Earnings (a)
(in millions)	2018		2017		2016		2018		2017		2016
Established Pharmaceuticals	$	4,422	$	4,287	$	3,859	$	894	$	848	$	723
Nutritionals		7,229		6,925		6,899		1,652		1,589		1,660
Diagnostics		7,495		5,616		4,813		1,868		1,468		1,194
Cardiovascular and Neuromodulation		9,437		8,911		2,896		2,990		2,720		1,037
Total Reportable Segments		28,583		25,739		18,467	$	7,404	$	6,625	$	4,614
Other		1,995		1,651		2,386
Total	$	30,578	$	27,390	$	20,853

(a)

Net sales were unfavorably affected by the relatively stronger U.S. dollar in 2018 and 2016. Operating earnings were unfavorably affected by the impact of foreign exchange in 2018, 2017 and 2016.


(in millions)	2018		2017		2016
Total Reportable Segment Operating Earnings	$	7,404	$	6,625	$	4,614
Corporate functions and benefit plans costs		(618)		(506)		(411)
Non-reportable segments		510		306		304
Net interest expense		(721)		(780)		(332)
Loss on extinguishment of debt		(167)		—		—
Share-based compensation		(477)		(406)		(310)
Amortization of intangible assets		(2,178)		(1,975)		(550)
Other, net (b)		(880)		(1,033)		(1,902)
Earnings from Continuing Operations before Taxes	$	2,873	$	2,231	$	1,413

(b) Other, net includes inventory step-up amortization, integration costs associated with the acquisition of St. Jude Medical and Alere, and restructuring charges in 2018. In 2017, Other, net includes inventory step-up amortization, integration costs associated with the acquisition of St. Jude Medical and Alere, and restructuring charges, partially offset by the gain on the sale of the AMO business. In 2016, Other, net includes the $947 million adjustment of the Mylan equity investment and $480 million of foreign currency exchange loss related to operations in Venezuela. Charges for restructuring actions and other cost reduction initiatives were approximately $153 million in 2018, $384 million in 2017 and $167 million in 2016.


							Additions to
							Property, Plant
	Depreciation						and Equipment (c)						Total Assets
(in millions)	2018		2017		2016		2018		2017		2016		2018		2017		2016
Established Pharmaceuticals	$	92	$	90	$	71	$	131	$	181	$	150	$	2,664	$	2,728	$	2,486
Nutritionals		150		164		160		86		147		199		3,071		3,160		3,189
Diagnostics		397		300		267		609		374		379		4,464		4,226		2,945
Cardiovascular and Neuromodulation		248		298		69		183		206		23		4,910		5,074		1,425
Total Reportable Segments		887		852		567		1,009		908		751	$	15,109	$	15,188	$	10,045
Other		213		194		236		385		227		370
Total	$	1,100	$	1,046	$	803	$	1,394	$	1,135	$	1,121


(in millions)	2018		2017		2016
Total Reportable Segment Assets	$	15,109	$	15,188	$	10,045
Cash and investments		4,983		10,493		21,722
Non-reportable segments		991		740		1,280
Goodwill and intangible assets (d)		42,196		45,493		12,222
All other (d)		3,894		4,336		7,397
Total Assets	$	67,173	$	76,250	$	52,666

(d)

Goodwill and intangible assets related to AMO are included in the All other line in 2016.


	Net Sales to External
	Customers (e)
(in millions)	2018		2017		2016
United States	$	10,839	$	9,673	$	6,486
China		2,311		2,146		1,728
Germany		1,619		1,366		1,044
India		1,333		1,237		1,114
Japan		1,326		1,255		924
Switzerland		1,005		841		766
The Netherlands		930		929		830
All Other Countries		11,215		9,943		7,961
Consolidated	$	30,578	$	27,390	$	20,853

(e)

Sales by country are based on the country that sold the product.

Long-lived assets on a geographic basis primarily include property, plant and equipment. It excludes goodwill, intangible assets, deferred tax assets, and financial instruments. At December 31, 2018 and 2017, long-lived assets totaled $8.7 billion and $8.9 billion, respectively, and in the United States such assets totaled $4.3 billion and $4.5 billion, respectively. Long-lived asset balances associated with other countries were not material on an individual country basis in either of the two years.

Quarterly Results (Unaudited)

12 Months Ended

Dec. 31, 2018

Quarterly Results (Unaudited)

Quarterly Results (Unaudited)

Note 17 — Quarterly Results (Unaudited)


(in millions except per share data)	2018		2017
First Quarter
Continuing Operations:
Net Sales	$	7,390	$	6,335
Gross Profit		3,739		2,751
Earnings from Continuing Operations		409		386
Basic Earnings per Common Share		0.23		0.22
Diluted Earnings per Common Share		0.23		0.22
Net Earnings		418		419
Basic Earnings Per Common Share (a)		0.24		0.24
Diluted Earnings Per Common Share (a)		0.23		0.24
Market Price Per Share-High		64.60		45.84
Market Price Per Share-Low		55.58		38.34
Second Quarter
Continuing Operations:
Net Sales	$	7,767	$	6,637
Gross Profit		3,923		3,056
Earnings from Continuing Operations		718		270
Basic Earnings per Common Share		0.41		0.15
Diluted Earnings per Common Share		0.40		0.15
Net Earnings		733		283
Basic Earnings Per Common Share (a)		0.42		0.16
Diluted Earnings Per Common Share (a)		0.41		0.16
Market Price Per Share-High		63.85		49.59
Market Price Per Share-Low		56.81		42.31
Third Quarter
Continuing Operations:
Net Sales	$	7,656	$	6,829
Gross Profit		3,946		3,452
Earnings from Continuing Operations		552		561
Basic Earnings per Common Share		0.31		0.32
Diluted Earnings per Common Share		0.31		0.32
Net Earnings		563		603
Basic Earnings Per Common Share (a)		0.32		0.34
Diluted Earnings Per Common Share (a)		0.32		0.34
Market Price Per Share-High		73.58		54.80
Market Price Per Share-Low		60.32		47.83
Fourth Quarter
Continuing Operations:
Net Sales	$	7,765	$	7,589
Gross Profit		4,086		3,747
Earnings (Loss) from Continuing Operations		655		(864)
Basic Earnings (Loss) per Common Share		0.37		(0.50)
Diluted Earnings (Loss) per Common Share		0.37		(0.50)
Net Earnings (Loss)		654		(828)
Basic Earnings (Loss) Per Common Share (a)		0.37		(0.48)
Diluted Earnings (Loss) Per Common Share (a)		0.37		(0.48)
Market Price Per Share-High		74.92		57.77
Market Price Per Share-Low		65.44		53.20

(a) The sum of the four quarters of earnings per share for 2018 and 2017 may not add to the full year earnings per share amount due to rounding and/or the use of quarter-to-date weighted average shares to calculate the earnings per share amount in each respective quarter.

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS

12 Months Ended

Dec. 31, 2018

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS

FOR THE YEARS ENDED DECEMBER 31, 2018, 2017 AND 2016

(in millions of dollars)


					Amounts
	Balance		Provisions/		Charged Off
Allowances for Doubtful	at Beginning		Charges		and Other		Balance at
Accounts and Product Returns	of Year		to Income		Deductions		End of Year
2018	$	294	$	110	$	(90)	$	314
2017		250		105		(61)		294
2016		337		92		(179)		250

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2018

Summary of Significant Accounting Policies

NATURE OF BUSINESS

NATURE OF BUSINESS — Abbott’s principal business is the discovery, development, manufacture and sale of a broad line of health care products.

BASIS OF CONSOLIDATION

BASIS OF CONSOLIDATION— The consolidated financial statements include the accounts of the parent company and subsidiaries, after elimination of intercompany transactions.

USE OF ESTIMATES

FOREIGN CURRENCY TRANSLATION

REVENUE RECOGNITION

INCOME TAXES

EARNINGS PER SHARE

PENSION AND POST-EMPLOYMENT BENEFITS

FAIR VALUE MEASUREMENTS

SHARE-BASED COMPENSATION

LITIGATION

CASH, CASH EQUIVALENTS AND INVESTMENTS

TRADE RECEIVABLE VALUATIONS

INVENTORIES

INVENTORIES — Inventories are stated at the lower of cost (first‑in, first‑out basis) or net realizable value. Cost includes material and conversion costs.

PROPERTY AND EQUIPMENT


Classification		Estimated Useful Lives
Buildings		10 to 50 years (average 27 years)
Equipment		3 to 20 years (average 11 years)

PRODUCT LIABILITY

RESEARCH AND DEVELOPMENT COSTS

ACQUIRED IN-PROCESS AND COLLABORATIONS RESEARCH AND DEVELOPMENT (IPR&D)

CONCENTRATION OF RISK AND GUARANTEES

Recently Adopted Accounting Standards

In February 2018, the FASB issued ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income, which allows companies to reclassify stranded tax effects resulting from the 2017 Tax Cuts and Jobs Act, from accumulated other comprehensive income (loss) to retained earnings (Earnings employed in the business). Abbott adopted the new standard at the beginning of the fourth quarter of 2018. As a result of the adoption of the new standard, approximately $337 million of stranded tax effects were reclassified from Accumulated other comprehensive income (loss) to Earnings employed in the business.

In August 2017, the FASB issued ASU 2017-12, Targeted Improvements to Accounting for Hedging Activities, which makes changes to the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results. The standard would have become effective for Abbott beginning in the first quarter of 2019, with early adoption permitted. Abbott elected to early adopt ASU 2017-12 in the fourth quarter of 2018. The impact of adopting the standard is not significant to Abbott’s Consolidated Balance Sheet and Consolidated Statement of Earnings.

In March 2017, the FASB issued ASU 2017-07, Compensation — Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost which changes the financial statement presentation requirements for pension and other postretirement benefit expense. While service cost continues to be reported in the same financial statement line items as other current employee compensation costs, the ASU requires all other components of pension and other postretirement benefit expense to be presented separately from service cost, and outside any subtotal of income from operations. The standard was adopted by Abbott beginning in the first quarter of 2018. The change in the presentation of the components of pension cost per year was applied retrospectively. As a result, approximately $160 million of net pension-related income per year was moved from the operating lines of the Consolidated Statement of Earnings to non-operating income for 2017 and 2016.

In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows: Restricted Cash, which requires that restricted cash be included with cash and cash equivalents when reconciling the beginning and end-of-period total amounts shown on the statement of cash flows. Abbott adopted this standard beginning in the first quarter of 2018, and applied the guidance retrospectively to all periods presented. Abbott did not have any restricted cash balances in the periods presented except for $75 million of restricted cash acquired as part of the Alere Inc. (Alere) acquisition in October 2017. The restrictions on this cash were eliminated prior to the end of 2017.

In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory, which requires the recognition of the income tax effects of intercompany sales and transfers of assets, other than inventory, in the period in which the transfer occurs. Abbott adopted the standard on January 1, 2018, using a modified retrospective approach and recorded a cumulative catch-up adjustment to Earnings employed in the business in the Consolidated Balance Sheet that was not significant.

In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments, which clarifies how companies should present and classify certain cash receipts and cash payments in the statement of cash flows. The ASU became effective for Abbott in the first quarter of 2018 and did not have a material impact to the Company’s Consolidated Statement of Cash Flows.

In January 2016, the FASB issued ASU 2016-01, Financial Instruments – Recognition and Measurement of Financial Assets and Financial Liabilities, which provides new guidance for the recognition, measurement, presentation, and disclosure of financial assets and liabilities. Abbott adopted the standard on January 1, 2018. Under the new standard, changes in the fair value of equity investments with readily determinable fair values are recorded in Other (income) expense, net within the Consolidated Statement of Earnings. Previously, such fair value changes were recorded in other comprehensive income. Abbott has elected the measurement alternative allowed by ASU 2016-01 for its equity investments without readily determinable fair values. These investments are measured at cost, less any impairment, plus or minus any changes resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer. Changes in the measurement of these investments are being recorded in Other (income) expense, net within the Consolidated Statement of Earnings. As part of the adoption, the cumulative-effect adjustment to Earnings employed in the business in the Consolidated Balance Sheet for net unrealized losses on equity investments that were recorded in Accumulated other comprehensive income (loss) as of December 31, 2017 was not significant.

In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers, which provides a single comprehensive model for accounting for revenue from contracts with customers and supersedes nearly all previously existing revenue recognition guidance. The core principle of the ASU is that an entity should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Abbott adopted the new standard as of January 1, 2018, using the modified retrospective approach method. Under this method, entities recognize the cumulative effect of applying the new standard at the date of initial application with no restatement of comparative periods presented. The cumulative effect of applying the new standard resulted in an increase to Earnings employed in the business in the Consolidated Balance Sheet of $23 million which was recorded on January 1, 2018. The new standard has been applied only to those contracts that were not completed as of January 1, 2018. The impact of adopting ASU 2014-09 was not significant to individual financial statement line items in the Consolidated Balance Sheet and Consolidated Statement of Earnings.

Recently Adopted Accounting Standards Not Yet Adopted

Recent Accounting Standards Not Yet Adopted

In February 2016, the FASB issued ASU 2016-02, Leases, which requires lessees to recognize assets and liabilities for most leases on the balance sheet. The standard becomes effective for Abbott beginning in the first quarter of 2019. Abbott completed a detailed review of its leases. Abbott will use the modified retrospective approach with the package of practical expedients which allows Abbott to carry forward the historical lease classification for leases existing at, or entered into after the beginning of the period of adoption and to account for lease and non-lease components as a single lease component for its lessee arrangements. Abbott does not expect the new lease accounting standard to have a material impact on the amounts reported in the Consolidated Statement of Earnings. As a result of adopting ASU 2016-02, Abbott expects to record approximately $800 million to $900 million of right of use assets and lease liabilities for operating leases on the Consolidated Balance Sheet.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2018

Summary of Significant Accounting Policies

Schedule of estimated useful lives of property and equipment


Classification		Estimated Useful Lives
Buildings		10 to 50 years (average 27 years)
Equipment		3 to 20 years (average 11 years)

Revenue (Tables)

12 Months Ended

Dec. 31, 2018

Revenue

Schedule of reportable segment included under sales category


	2018						2017
(in millions)	U.S.		Int'l		Total		U.S.		Int'l		Total
Established Pharmaceutical Products —
Key Emerging Markets	$	—	$	3,363	$	3,363	$	—	$	3,307	$	3,307
Other		—		1,059		1,059		—		980		980
Total		—		4,422		4,422		—		4,287		4,287

Nutritionals —
Pediatric Nutritionals
Pediatric Nutritionals		1,843		2,254		4,097		1,777		2,112		3,889
Adult Nutritionals		1,232		1,900		3,132		1,254		1,782		3,036
Total		3,075		4,154		7,229		3,031		3,894		6,925

Diagnostics —
Core Laboratory		985		3,401		4,386		921		3,142		4,063
Molecular		152		332		484		160		303		463
Point of Care		432		121		553		440		110		550
Rapid Diagnostics		1,148		924		2,072		296		244		540
Total		2,717		4,778		7,495		1,817		3,799		5,616

Cardiovascular and Neuromodulation —
Rhythm Management		1,019		1,072		2,091		1,030		1,073		2,103
Electrophysiology		764		904		1,668		609		773		1,382
Heart Failure		467		179		646		491		152		643
Vascular		1,126		1,803		2,929		1,180		1,712		2,892
Structural Heart		488		751		1,239		432		651		1,083
Neuromodulation		690		174		864		636		172		808
Total		4,554		4,883		9,437		4,378		4,533		8,911

Other		493		1,502		1,995		447		1,204		1,651

Total	$	10,839	$	19,739	$	30,578	$	9,673	$	17,717	$	27,390

Schedule of changes in contract liabilities


(in millions)
Contract Liabilities
Balance at January 1, 2018	$	198
Unearned revenue from cash received during the period		304
Revenue recognized that was included in contract liability balance at beginning of period		(243)
Balance at December 31, 2018	$	259

Discontinued Operations and Assets Held for Disposition (Tables)

12 Months Ended

Dec. 31, 2018

Discontinued Operations and Assets Held for Disposition

Summary of assets held for disposition


	December 31,		December 31,
(in millions)	2018		2017
Trade receivables, net	$	6	$	12
Total inventories		3		8
Current assets held for disposition		9		20
Net property and equipment		—		56
Intangible assets, net of amortization		—		18
Goodwill		17		102
Non-current assets held for disposition		17		176
Total assets held for disposition	$	26	$	196

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details

Supplemental Financial Information (Tables)

12 Months Ended

Dec. 31, 2018

Supplemental Financial Information

Schedule of long-term investments


	December 31,		December 31,
(in millions)	2018		2017
Long-term Investments:
Equity securities	$	856	$	797
Other		41		86
Total	$	897	$	883

Schedule of other accrued liabilities


	December 31,		December 31,
(in millions)	2018		2017
Other Accrued Liabilities:
Accrued rebates payable to government agencies	$	166	$	124
Accrued other rebates (a)		608		498
All other		3,006		3,189
Total	$	3,780	$	3,811

(a)

Schedule of post-employment obligations and other long-term liabilities


	December 31,		December 31,
(in millions)	2018		2017

Post-employment Obligations and Other Long-term Liabilities:
Defined benefit pension plans and post-employment medical and dental plans for significant plans	$	2,040	$	2,169
Deferred income taxes		2,056		2,006
All other (b)		3,984		4,855
Total	$	8,080	$	9,030

Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2018

Accumulated Other Comprehensive Income (Loss)

Schedule of accumulated other comprehensive income (loss), net of taxes

The components of the changes in accumulated other comprehensive income (loss) from continuing operations, net of income taxes, are as follows: (in millions)


					Cumulative		Cumulative
			Net Actuarial		Unrealized		Gains (Losses)
	Cumulative		Losses		Gains (Losses)		on Derivative
	Foreign		and Prior		on		Instruments
	Currency		Service		Marketable		Designated as
	Translation		Costs and		Equity		Cash Flow
	Adjustments		Credits		Securities		Hedges		Total
Balance at December 31, 2016	$	(4,959)	$	(2,284)	$	(69)	$	49	$	(7,263)
Impact of business dispositions		142		6		—		1		149
Other comprehensive income (loss) before reclassifications		1,365		(333)		182		(170)		1,044
(Income) loss amounts reclassified from accumulated other comprehensive income (a)		—		90		(118)		36		8
Net current period other comprehensive income (loss)		1,365		(243)		64		(134)		1,052
Balance at December 31, 2017		(3,452)		(2,521)		(5)		(84)		(6,062)
Impact of adoption of new accounting standards		—		(337)		5		—		(332)
Other comprehensive income (loss) before reclassifications		(1,488)		(18)		—		58		(1,448)
(Income) loss amounts reclassified from accumulated other comprehensive income (a)		28		150		—		78		256
Net current period other comprehensive income (loss)		(1,460)		132		—		136		(1,192)
Balance at December 31, 2018	$	(4,912)	$	(2,726)	$	—	$	52	$	(7,586)

(a)

Business Acquisitions (Tables)

12 Months Ended

Dec. 31, 2018

St Jude Medical

Business Acquisitions

Schedule of allocation of fair value of the acquisition


(in billions)
Acquired intangible assets, non-deductible	$	15.5
Goodwill, non-deductible		13.1
Acquired net tangible assets		3.0
Deferred income taxes recorded at acquisition		(2.7)
Net debt		(5.3)
Total final allocation of fair value	$	23.6

Alere Inc

Business Acquisitions

Schedule of allocation of fair value of the acquisition


(in billions)
Acquired intangible assets, non-deductible	$	3.5
Goodwill, non-deductible		3.7
Acquired net tangible assets		1.0
Deferred income taxes recorded at acquisition		(0.4)
Net debt		(2.6)
Preferred stock		(0.7)
Total final allocation of fair value	$	4.5

Restructuring Plans (Tables)

12 Months Ended

Dec. 31, 2018

Restructuring Plan in 2017 and 2018, St Jude and Alere Integrations

Restructuring costs

Summary of restructuring activity


(in millions)
Liabilities assumed as part of business acquisitions	$	23
Restructuring charges		187
Payments and other adjustments		(142)
Accrued balance at December 31, 2017		68
Restructuring charges		52
Payments and other adjustments		(79)
Accrued balance at December 31, 2018	$	41

Restructuring Plan from 2016 to 2018

Restructuring costs

Summary of restructuring activity


(in millions)
Restructuring charges	$	32
Payments and other adjustments		(15)
Accrued balance at December 31, 2016		17
Restructuring charges		120
Payments and other adjustments		(18)
Accrued balance at December 31, 2017		119
Restructuring charges		28
Payments and other adjustments		(77)
Accrued balance at December 31, 2018	$	70

Incentive Stock Program (Tables)

12 Months Ended

Dec. 31, 2018

Incentive Stock Program

Schedule of stock options outstanding and exercisable


	Options Outstanding				Exercisable Options
		Weighted		Weighted		Weighted		Weighted
		Average		Average		Average		Average
		Exercise		Remaining		Exercise		Remaining
	Shares	Price		Life (Years)	Shares	Price		Life (Years)
December 31, 2017	35,813,800	$	36.85	5.8	22,216,890	$	34.54	4.7
Granted	5,760,221		60.02
Exercised	(7,690,569)		30.34
Lapsed	(808,839)		44.77
December 31, 2018	33,074,613	$	42.21	6.3	21,660,783	$	38.05	5.3

Schedule of fair value assumptions used to estimate fair value of option


	2018		2017		2016
Risk-free interest rate	2.7	%	2.1	%	1.4	%
Average life of options (years)	6.0		6.0		6.0
Volatility	19.0	%	18.0	%	17.0	%
Dividend yield	1.9	%	2.4	%	2.7	%

Debt and Lines of Credit (Tables)

12 Months Ended

Dec. 31, 2018

Debt and Lines of Credit

Summary of long-term debt

The following is a summary of long‑term debt at December 31: (in millions)


	2018		2017
5.125% Notes, due 2019	$	—	$	947
2.35% Notes, due 2019		—		2,850
2.50% Line of credit borrowing due 2019		—		1,150
0.00% Notes, due 2020		1,300		—
2.80% Notes, due 2020		500		500
4.125% Notes, due 2020		—		597
2.00% Notes, due 2020		—		750
2.90% Notes, due 2021		2,850		2,850
2.55% Notes, due 2022		750		750
2.62% Term loan due 2022		—		2,800
0.875% Notes, due 2023		1,303		—
3.25% Notes, due 2023		—		900
3.40% Notes, due 2023		1,050		1,500
3.875% Notes, due 2025		500		500
2.95% Notes, due 2025		1,000		1,000
1.50% Notes, due 2026		1,300		—
3.75% Notes, due 2026		1,700		3,000
4.75% Notes, due 2036		1,650		1,650
6.15% Notes, due 2037		547		547
6.00% Notes, due 2039		515		515
5.30% Notes, due 2040		694		694
4.75% Notes, due 2043		700		700
4.90% Notes, due 2046		3,250		3,250
Unamortized debt issuance costs		(102)		(119)
Other, including fair value adjustments relating to interest rate hedge contracts designated as fair value hedges		(148)		(121)
Total, net of current maturities		19,359		27,210
Current maturities of long-term debt		7		508
Total carrying amount	$	19,366	$	27,718

Schedule of debt assumed and exchanged


	Principal Amount
2.00% Senior Notes due 2018	$	473.8	million
2.80% Senior Notes due 2020	$	483.7	million
3.25% Senior Notes due 2023	$	818.4	million
3.875% Senior Notes due 2025	$	490.7	million
4.75% Senior Notes due 2043	$	639.1	million

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details

Financial Instruments, Derivatives and Fair Value Measures (Tables)

12 Months Ended

Dec. 31, 2018

Financial Instruments, Derivatives and Fair Value Measures

Summary of the amounts and location of certain derivative financial instruments


	Fair Value — Assets					Fair Value — Liabilities
(in millions)	2018		2017		Balance Sheet Caption	2018		2017		Balance Sheet Caption
Interest rate swaps designated as fair value hedges	$	—	$	—	Deferred income taxes and other assets	$	100	$	93	Post-employment obligations and other long-term liabilities
Foreign currency forward exchange contracts —
Hedging instruments		81		21	Other prepaid expenses and receivables		44		106	Other accrued liabilities
Others not designated as hedges		33		117	Other prepaid expenses and receivables		51		99	Other accrued liabilities
	$	114	$	138		$	195	$	298

Schedule of derivatives gain (loss) in OCI and earnings


	Gain (loss) Recognized in						Income (expense) and
	Other Comprehensive						Gain (loss) Reclassified
	Income (loss)						into Income						Income Statement
(in millions)	2018		2017		2016		2018		2017		2016		Caption
Foreign currency forward exchange contracts designated as cash flow hedges	$	73	$	(226)	$	49	$	(114)	$	(48)	$	48	Cost of products sold
Debt designated as a hedge of net investment in a foreign subsidiary		—		(25)		(15)		n/a		n/a		n/a	n/a
Interest rate swaps designated as fair value hedges		n/a		n/a		n/a		(97)		(24)		(127)	Interest expense

Schedule of carrying values and fair values of certain financial instruments


	2018				2017
	Carrying		Fair		Carrying		Fair
(in millions)	Value		Value		Value		Value
Long-term Investment Securities:
Equity securities	$	856	$	856	$	797	$	797
Other		41		41		86		86
Total Long-Term Debt		(19,366)		(19,871)		(27,718)		(29,018)
Foreign Currency Forward Exchange Contracts:
Receivable position		114		114		138		138
(Payable) position		(95)		(95)		(205)		(205)
Interest Rate Hedge Contracts:
(Payable) position		(100)		(100)		(93)		(93)

Schedule of assets and liabilities measured at fair value on a recurring basis


			Basis of Fair Value Measurement
			Quoted		Significant Other		Significant
	Outstanding		Prices in		Observable		Unobservable
(in millions)	Balances		Active Markets		Inputs		Inputs
December 31, 2018:
Equity securities	$	320	$	320	$	—	$	—
Foreign currency forward exchange contracts		114		—		114		—
Total Assets	$	434	$	320	$	114	$	—
Fair value of hedged long-term debt	$	2,743	$	—	$	2,743	$	—
Interest rate swap financial instruments		100		—		100		—
Foreign currency forward exchange contracts		95		—		95		—
Contingent consideration related to business combinations		71		—		—		71
Total Liabilities	$	3,009	$	—	$	2,938	$	71
December 31, 2017:
Equity securities	$	374	$	374	$	—	$	—
Foreign currency forward exchange contracts		138		—		138		—
Total Assets	$	512	$	374	$	138	$	—
Fair value of hedged long-term debt	$	3,898	$	—	$	3,898	$	—
Interest rate swap financial instruments		93		—		93		—
Foreign currency forward exchange contracts		205		—		205		—
Contingent consideration related to business combinations		120		—		—		120
Total Liabilities	$	4,316	$	—	$	4,196	$	120

Post-Employment Benefits (Tables)

12 Months Ended

Dec. 31, 2018

Post-Employment Benefits

Schedule of aggregate accumulated benefit obligations, projected benefit obligations and aggregate plan assets for plans whose accumulated benefit obligation exceeded plan assets


	Defined Benefit				Medical and
	Plans				Dental Plans
(in millions)	2018		2017		2018		2017
Projected benefit obligations, January 1	$	9,953	$	8,517	$	1,393	$	1,274
Service cost — benefits earned during the year		293		283		26		25
Interest cost on projected benefit obligations		308		287		48		45
(Gains) losses, primarily changes in discount rates, plan design changes, law changes and differences between actual and estimated health care costs		(1,044)		752		(106)		149
Benefits paid		(295)		(276)		(68)		(80)
Other, including foreign currency translation		(122)		390		(1)		(20)
Projected benefit obligations, December 31	$	9,093	$	9,953	$	1,292	$	1,393
Plan assets at fair value, January 1	$	9,298	$	7,542	$	419	$	416
Actual return (loss) on plans’ assets		(450)		1,107		(20)		65
Company contributions		114		645		12		12
Benefits paid		(295)		(276)		(60)		(74)
Other, including foreign currency translation		(114)		280		—		—
Plan assets at fair value, December 31	$	8,553	$	9,298	$	351	$	419
Projected benefit obligations greater than plan assets, December 31	$	(540)	$	(655)	$	(941)	$	(974)
Long-term assets	$	583	$	563	$	—	$	—
Short-term liabilities		(23)		(21)		(1)		(2)
Long-term liabilities		(1,100)		(1,197)		(940)		(972)
Net liability	$	(540)	$	(655)	$	(941)	$	(974)
Amounts Recognized in Accumulated Other Comprehensive Income (loss):
Actuarial losses, net	$	3,326	$	3,466	$	361	$	456
Prior service cost (credits)		(2)		(9)		(163)		(208)
Total	$	3,324	$	3,457	$	198	$	248

Schedule of plans where the accumulated benefit obligations exceeded plan assets the aggregate accumulated benefit obligations, the projected benefit obligations and the aggregate plan assets


(in millions)	2018		2017
Accumulated benefit obligation	$	1,265	$	1,664
Projected benefit obligation		1,362		1,892
Fair value of plan assets		375		696

Schedule of components of the net periodic benefit cost for the entity's major defined benefit plans and post-employment medical and dental benefit plans


							Medical and
	Defined Benefit Plans						Dental Plans
(in millions)	2018		2017		2016		2018		2017		2016
Service cost — benefits earned during the year	$	293	$	283	$	263	$	26	$	25	$	26
Interest cost on projected benefit obligations		308		287		288		48		45		43
Expected return on plans’ assets		(680)		(613)		(565)		(33)		(33)		(35)
Amortization of actuarial losses		205		163		129		33		23		16
Amortization of prior service cost (credits)		1		1		—		(45)		(45)		(45)
Total cost	$	127	$	121	$	115	$	29	$	15	$	5

Schedule of weighted average assumptions used to determine benefit obligations and net cost for defined benefit plans and medical and dental plans

The weighted average assumptions used to determine benefit obligations for defined benefit plans and medical and dental plans are as follows:


	2018		2017		2016
Discount rate	4.0	%	3.4	%	3.9	%
Expected aggregate average long-term change in compensation	4.3	%	4.4	%	4.3	%

The weighted average assumptions used to determine the net cost for defined benefit plans and medical and dental plans are as follows:


	2018		2017		2016
Discount rate	3.4	%	3.9	%	4.3	%
Expected return on plan assets	7.7	%	7.6	%	7.6	%
Expected aggregate average long-term change in compensation	4.4	%	4.3	%	4.3	%

Schedule of assumed health care cost trend rates


	2018		2017		2016
Health care cost trend rate assumed for the next year	9	%	9	%	8	%
Rate that the cost trend rate gradually declines to	5	%	5	%	5	%
Year that rate reaches the assumed ultimate rate	2025		2027		2027

Schedule of basis used to measure the defined benefit and medical and dental plan assets at fair value


			Basis of Fair Value Measurement
					Significant
			Quoted		Other		Significant
	Outstanding		Prices in		Observable		Unobservable		Measured at
	Balances		Active Markets		Inputs		Inputs		NAV (k)
(in millions)
December 31, 2018:
Equities:
U.S. large cap (a)	$	2,168	$	1,319	$	5	$	—	$	844
U.S. mid and small cap (b)		515		226		—		—		289
International (c)		1,671		370		—		—		1,301
Fixed income securities:
U.S. government securities (d)		476		51		269		—		156
Corporate debt instruments (e)		1,150		269		701		—		180
Non-U.S. government securities (f)		405		5		—		—		400
Other (g)		199		15		55		—		129
Absolute return funds (h)		1,684		448		—		—		1,236
Commodities (i)		59		—		—		4		55
Cash and Cash Equivalents		192		123		—		—		69
Other (j)		385		11		—		—		374
	$	8,904	$	2,837	$	1,030	$	4	$	5,033
December 31, 2017:
Equities:
U.S. large cap (a)	$	2,506	$	1,600	$	—	$	—	$	906
U.S. mid and small cap (b)		670		243		—		—		427
International (c)		1,937		448		—		—		1,489
Fixed income securities:
U.S. government securities (d)		510		11		286		—		213
Corporate debt instruments (e)		930		107		411		—		412
Non-U.S. government securities (f)		625		222		—		—		403
Other (g)		216		93		27		—		96
Absolute return funds (h)		1,814		135		—		—		1,679
Commodities (i)		60		—		—		4		56
Cash and Cash Equivalents		178		12		—		—		166
Other (j)		271		7		—		—		264
	$	9,717	$	2,878	$	724	$	4	$	6,111

(a)

A mix of index funds and actively managed equity accounts that are benchmarked to various large cap indices.

(b)

A mix of index funds and actively managed equity accounts that are benchmarked to various mid and small cap indices.

(c)

A mix of index funds and actively managed pooled investment funds that are benchmarked to various non-U.S. equity indices in both developed and emerging markets.

(d)

A mix of index funds and actively managed accounts that are benchmarked to various U.S. government bond indices.

(e)

A mix of index funds and actively managed accounts that are benchmarked to various corporate bond indices.

(f)

Primarily United Kingdom, Japan and Irish government-issued bonds. In 2017, included Netherlands bonds.

(g)

Primarily asset backed securities and an actively managed, diversified fixed income vehicle benchmarked to the one-month Libor / Euribor.

(h)

(i)

Primarily investments in liquid commodity future contracts and private energy funds.

(j)

Primarily investments in private funds, such as private equity, private credit and private real estate.

(k)

Schedule of total benefit payments expected to be paid to participants


	Defined		Medical and
(in millions)	Benefit Plans		Dental Plans
2019	$	306	$	74
2020		317		77
2021		333		78
2022		351		79
2023		369		80
2024 to 2028		2,160		418

Taxes on Earnings from Continuing Operations (Tables)

12 Months Ended

Dec. 31, 2018

Taxes on Earnings from Continuing Operations

Schedule of earnings from continuing operations before taxes


(in millions)	2018		2017		2016
Earnings From Continuing Operations Before Taxes:
Domestic	$	(430)	$	308	$	306
Foreign		3,303		1,923		1,107
Total	$	2,873	$	2,231	$	1,413

Schedule of components of Income Tax Expense (Benefit), Continuing Operations


Taxes on Earnings From Continuing Operations:
Current:
Domestic	$	(812)	$	2,260	$	71
Foreign		606		508		406
Total current		(206)		2,768		477
Deferred:
Domestic		832		(679)		(147)
Foreign		(87)		(211)		20
Total deferred		745		(890)		(127)
Total	$	539	$	1,878	$	350

Schedule of reconciliation of income tax rate and U.S. statutory tax rate to income tax expense (benefit)


	2018		2017		2016
Statutory tax rate on earnings from continuing operations	21.0	%	35.0	%	35.0	%
Impact of foreign operations	(5.4)		(16.3)		(17.8)
Impact of TCJA and other related items	6.3		65.5		—
Foreign-derived intangible income benefit	(1.9)		—		—
Domestic impairment loss	(2.1)		—		—
Excess tax benefits related to stock compensation	(3.1)		(5.4)		—
Research tax credit	(1.8)		(1.9)		(1.8)
Resolution of certain tax positions pertaining to prior years	3.4		—		(16.1)
Mylan share adjustment	—		—		25.5
State taxes, net of federal benefit	0.4		0.5		(1.3)
Federal tax cost on sale of Mylan N.V. shares	—		3.4		—
All other, net	2.0		3.4		1.3
Effective tax rate on earnings from continuing operations	18.8	%	84.2	%	24.8	%

Schedule of components of net deferred tax assets (liabilities)


(in millions)	2018		2017
Deferred tax assets:
Compensation and employee benefits	$	829	$	881
Other, primarily reserves not currently deductible, and NOL’s and credit carryforwards		2,546		2,857
Trade receivable reserves		196		185
Inventory reserves		97		152
Deferred intercompany profit		203		249
Total deferred tax assets before valuation allowance		3,871		4,324
Valuation allowance		(1,363)		(1,355)
Total deferred tax assets		2,508		2,969
Deferred tax liabilities:
Depreciation		(226)		(200)
Other, primarily the excess of book basis over tax basis of intangible assets		(3,557)		(3,385)
Total deferred tax liabilities		(3,783)		(3,585)
Total net deferred tax assets (liabilities)	$	(1,275)	$	(616)

Schedule of reconciliation of unrecognized tax benefits for the period


(in millions)	2018		2017
January 1	$	1,440	$	972
Decrease in tax positions due to acquisitions		(13)		—
Increase in tax positions due to acquisitions		—		479
Increase due to current year tax positions		164		187
Increase due to prior year tax positions		235		76
Decrease due to prior year tax positions		(611)		(176)
Settlements		(91)		(57)
Lapse of statute		(4)		(41)
December 31	$	1,120	$	1,440

Segment and Geographic Area Information (Tables)

12 Months Ended

Dec. 31, 2018

Segment and Geographic Area Information

Schedule of segment information - net sales and operating earnings


	Net Sales to External Customers (a)						Operating Earnings (a)
(in millions)	2018		2017		2016		2018		2017		2016
Established Pharmaceuticals	$	4,422	$	4,287	$	3,859	$	894	$	848	$	723
Nutritionals		7,229		6,925		6,899		1,652		1,589		1,660
Diagnostics		7,495		5,616		4,813		1,868		1,468		1,194
Cardiovascular and Neuromodulation		9,437		8,911		2,896		2,990		2,720		1,037
Total Reportable Segments		28,583		25,739		18,467	$	7,404	$	6,625	$	4,614
Other		1,995		1,651		2,386
Total	$	30,578	$	27,390	$	20,853

(a)

Net sales were unfavorably affected by the relatively stronger U.S. dollar in 2018 and 2016. Operating earnings were unfavorably affected by the impact of foreign exchange in 2018, 2017 and 2016.

Schedule of reconciliation of operating earnings to earnings from continuing operations


(in millions)	2018		2017		2016
Total Reportable Segment Operating Earnings	$	7,404	$	6,625	$	4,614
Corporate functions and benefit plans costs		(618)		(506)		(411)
Non-reportable segments		510		306		304
Net interest expense		(721)		(780)		(332)
Loss on extinguishment of debt		(167)		—		—
Share-based compensation		(477)		(406)		(310)
Amortization of intangible assets		(2,178)		(1,975)		(550)
Other, net (b)		(880)		(1,033)		(1,902)
Earnings from Continuing Operations before Taxes	$	2,873	$	2,231	$	1,413

Schedule of depreciation, additions to property, plant and equipment and total assets by segment


							Additions to
							Property, Plant
	Depreciation						and Equipment (c)						Total Assets
(in millions)	2018		2017		2016		2018		2017		2016		2018		2017		2016
Established Pharmaceuticals	$	92	$	90	$	71	$	131	$	181	$	150	$	2,664	$	2,728	$	2,486
Nutritionals		150		164		160		86		147		199		3,071		3,160		3,189
Diagnostics		397		300		267		609		374		379		4,464		4,226		2,945
Cardiovascular and Neuromodulation		248		298		69		183		206		23		4,910		5,074		1,425
Total Reportable Segments		887		852		567		1,009		908		751	$	15,109	$	15,188	$	10,045
Other		213		194		236		385		227		370
Total	$	1,100	$	1,046	$	803	$	1,394	$	1,135	$	1,121

Schedule of reconciliation of segment assets to total assets


(in millions)	2018		2017		2016
Total Reportable Segment Assets	$	15,109	$	15,188	$	10,045
Cash and investments		4,983		10,493		21,722
Non-reportable segments		991		740		1,280
Goodwill and intangible assets (d)		42,196		45,493		12,222
All other (d)		3,894		4,336		7,397
Total Assets	$	67,173	$	76,250	$	52,666

(d)

Goodwill and intangible assets related to AMO are included in the All other line in 2016.

Schedule of net sales to external customers by geographic areas


	Net Sales to External
	Customers (e)
(in millions)	2018		2017		2016
United States	$	10,839	$	9,673	$	6,486
China		2,311		2,146		1,728
Germany		1,619		1,366		1,044
India		1,333		1,237		1,114
Japan		1,326		1,255		924
Switzerland		1,005		841		766
The Netherlands		930		929		830
All Other Countries		11,215		9,943		7,961
Consolidated	$	30,578	$	27,390	$	20,853

(e)

Sales by country are based on the country that sold the product.

Quarterly Results (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2018

Quarterly Results (Unaudited)

Schedule of quarterly Results (Unaudited)


(in millions except per share data)	2018		2017
First Quarter
Continuing Operations:
Net Sales	$	7,390	$	6,335
Gross Profit		3,739		2,751
Earnings from Continuing Operations		409		386
Basic Earnings per Common Share		0.23		0.22
Diluted Earnings per Common Share		0.23		0.22
Net Earnings		418		419
Basic Earnings Per Common Share (a)		0.24		0.24
Diluted Earnings Per Common Share (a)		0.23		0.24
Market Price Per Share-High		64.60		45.84
Market Price Per Share-Low		55.58		38.34
Second Quarter
Continuing Operations:
Net Sales	$	7,767	$	6,637
Gross Profit		3,923		3,056
Earnings from Continuing Operations		718		270
Basic Earnings per Common Share		0.41		0.15
Diluted Earnings per Common Share		0.40		0.15
Net Earnings		733		283
Basic Earnings Per Common Share (a)		0.42		0.16
Diluted Earnings Per Common Share (a)		0.41		0.16
Market Price Per Share-High		63.85		49.59
Market Price Per Share-Low		56.81		42.31
Third Quarter
Continuing Operations:
Net Sales	$	7,656	$	6,829
Gross Profit		3,946		3,452
Earnings from Continuing Operations		552		561
Basic Earnings per Common Share		0.31		0.32
Diluted Earnings per Common Share		0.31		0.32
Net Earnings		563		603
Basic Earnings Per Common Share (a)		0.32		0.34
Diluted Earnings Per Common Share (a)		0.32		0.34
Market Price Per Share-High		73.58		54.80
Market Price Per Share-Low		60.32		47.83
Fourth Quarter
Continuing Operations:
Net Sales	$	7,765	$	7,589
Gross Profit		4,086		3,747
Earnings (Loss) from Continuing Operations		655		(864)
Basic Earnings (Loss) per Common Share		0.37		(0.50)
Diluted Earnings (Loss) per Common Share		0.37		(0.50)
Net Earnings (Loss)		654		(828)
Basic Earnings (Loss) Per Common Share (a)		0.37		(0.48)
Diluted Earnings (Loss) Per Common Share (a)		0.37		(0.48)
Market Price Per Share-High		74.92		57.77
Market Price Per Share-Low		65.44		53.20

Summary of Significant Accounting Policies - Earnings Per Share (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
EARNINGS PER SHARE
Earnings from continuing operations allocated to common shares	$ 2,320	$ 346	$ 1,057
Net earnings allocated to common shares	$ 2,353	$ 468	$ 1,393
PENSION AND POST EMPLOYMENT BENEFITS
Amortization period of differences between the expected long-term return on plan assets and the actual return	5 years

Summary of Significant Accounting Policies - Property and Equipment (Details)	12 Months Ended
	Dec. 31, 2018
Buildings \| Minimum
PROPERTY AND EQUIPMENT
Estimated Useful Lives	10 years
Buildings \| Maximum
PROPERTY AND EQUIPMENT
Estimated Useful Lives	50 years
Buildings \| Weighted average
PROPERTY AND EQUIPMENT
Estimated Useful Lives	27 years
Equipment \| Minimum
PROPERTY AND EQUIPMENT
Estimated Useful Lives	3 years
Equipment \| Maximum
PROPERTY AND EQUIPMENT
Estimated Useful Lives	20 years
Equipment \| Weighted average
PROPERTY AND EQUIPMENT
Estimated Useful Lives	11 years

New Accounting Standards (Details) - USD ($) $ in Millions	12 Months Ended
New Accounting Standards (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jan. 01, 2018
Recently Adopted Accounting Standards
Operating Earnings	$ 3,650	$ 1,564	$ 3,026
Other (income) expense, net	139	1,413	$ (786)
Retained earnings	24,560	$ 23,978
ASU 2018-02
Recently Adopted Accounting Standards
Accumulated other comprehensive income (loss) to retained earnings stranded tax effects	337
ASU 2017-07 \| Restatement Adjustment
Recently Adopted Accounting Standards
Net periodic defined benefits expense (Reversal of Expense), excluding service cost component	160
ASU 2016-18 \| Alere Inc
Recently Adopted Accounting Standards
Restricted cash acquired	75
ASU 2014-09 \| Cumulative Effect
Recently Adopted Accounting Standards
Retained earnings				$ 23
ASU 2016-02 \| Restatement Adjustment \| Minimum
Recently Adopted Accounting Standards
Right of use assets	800
Lease liabilities	800
ASU 2016-02 \| Restatement Adjustment \| Maximum
Recently Adopted Accounting Standards
Right of use assets	900
Lease liabilities	$ 900

Revenue (Details) $ in Millions	3 Months Ended								12 Months Ended
Revenue (Details) $ in Millions	Dec. 31, 2018 USD ($)	Sep. 30, 2018 USD ($)	Jun. 30, 2018 USD ($)	Mar. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Sep. 30, 2017 USD ($)	Jun. 30, 2017 USD ($)	Mar. 31, 2017 USD ($)	Dec. 31, 2018 USD ($) segment	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Revenue
Number of reportable segments \| segment									4
Net Sales	$ 7,765	$ 7,656	$ 7,767	$ 7,390	$ 7,589	$ 6,829	$ 6,637	$ 6,335	$ 30,578	$ 27,390	$ 20,853
Minimum
Revenue
Settlement of rebate after sale									1 month
Period cash discounts are known after sale									15 days
Maximum
Revenue
Settlement of rebate after sale									6 months
Period cash discounts are known after sale									30 days
United States
Revenue
Net Sales									$ 10,839	9,673	6,486
Int'l
Revenue
Net Sales									19,739	17,717
Established Pharmaceutical Products
Revenue
Net Sales									4,422	4,287
Established Pharmaceutical Products \| Int'l
Revenue
Net Sales									4,422	4,287
Nutritional Products
Revenue
Net Sales									7,229	6,925
Nutritional Products \| United States
Revenue
Net Sales									3,075	3,031
Nutritional Products \| Int'l
Revenue
Net Sales									4,154	3,894
Diagnostic Products
Revenue
Net Sales									7,495	5,616
Diagnostic Products \| United States
Revenue
Net Sales									2,717	1,817
Diagnostic Products \| Int'l
Revenue
Net Sales									4,778	3,799
Cardiovascular and Neuromodulation Products
Revenue
Net Sales									9,437	8,911
Cardiovascular and Neuromodulation Products \| United States
Revenue
Net Sales									4,554	4,378
Cardiovascular and Neuromodulation Products \| Int'l
Revenue
Net Sales									4,883	4,533
Other
Revenue
Net Sales									1,995	1,651	$ 2,386
Other \| United States
Revenue
Net Sales									493	447
Other \| Int'l
Revenue
Net Sales									1,502	1,204
Key Emerging Markets \| Established Pharmaceutical Products
Revenue
Net Sales									3,363	3,307
Key Emerging Markets \| Established Pharmaceutical Products \| Int'l
Revenue
Net Sales									3,363	3,307
Other \| Established Pharmaceutical Products
Revenue
Net Sales									1,059	980
Other \| Established Pharmaceutical Products \| Int'l
Revenue
Net Sales									1,059	980
Pediatric Nutritionals \| Nutritional Products
Revenue
Net Sales									4,097	3,889
Pediatric Nutritionals \| Nutritional Products \| United States
Revenue
Net Sales									1,843	1,777
Pediatric Nutritionals \| Nutritional Products \| Int'l
Revenue
Net Sales									2,254	2,112
Adult Nutritionals \| Nutritional Products
Revenue
Net Sales									3,132	3,036
Adult Nutritionals \| Nutritional Products \| United States
Revenue
Net Sales									1,232	1,254
Adult Nutritionals \| Nutritional Products \| Int'l
Revenue
Net Sales									1,900	1,782
Core Laboratory \| Diagnostic Products
Revenue
Net Sales									4,386	4,063
Core Laboratory \| Diagnostic Products \| United States
Revenue
Net Sales									985	921
Core Laboratory \| Diagnostic Products \| Int'l
Revenue
Net Sales									3,401	3,142
Molecular \| Diagnostic Products
Revenue
Net Sales									484	463
Molecular \| Diagnostic Products \| United States
Revenue
Net Sales									152	160
Molecular \| Diagnostic Products \| Int'l
Revenue
Net Sales									332	303
Point of Care \| Diagnostic Products
Revenue
Net Sales									553	550
Point of Care \| Diagnostic Products \| United States
Revenue
Net Sales									432	440
Point of Care \| Diagnostic Products \| Int'l
Revenue
Net Sales									121	110
Rapid Diagnostics \| Diagnostic Products
Revenue
Net Sales									2,072	540
Rapid Diagnostics \| Diagnostic Products \| United States
Revenue
Net Sales									1,148	296
Rapid Diagnostics \| Diagnostic Products \| Int'l
Revenue
Net Sales									924	244
Rhythm Management \| Cardiovascular and Neuromodulation Products
Revenue
Net Sales									2,091	2,103
Rhythm Management \| Cardiovascular and Neuromodulation Products \| United States
Revenue
Net Sales									1,019	1,030
Rhythm Management \| Cardiovascular and Neuromodulation Products \| Int'l
Revenue
Net Sales									1,072	1,073
Electrophysiology \| Cardiovascular and Neuromodulation Products
Revenue
Net Sales									1,668	1,382
Electrophysiology \| Cardiovascular and Neuromodulation Products \| United States
Revenue
Net Sales									764	609
Electrophysiology \| Cardiovascular and Neuromodulation Products \| Int'l
Revenue
Net Sales									904	773
Heart Failure \| Cardiovascular and Neuromodulation Products
Revenue
Net Sales									646	643
Heart Failure \| Cardiovascular and Neuromodulation Products \| United States
Revenue
Net Sales									467	491
Heart Failure \| Cardiovascular and Neuromodulation Products \| Int'l
Revenue
Net Sales									179	152
Vascular \| Cardiovascular and Neuromodulation Products
Revenue
Net Sales									2,929	2,892
Vascular \| Cardiovascular and Neuromodulation Products \| United States
Revenue
Net Sales									1,126	1,180
Vascular \| Cardiovascular and Neuromodulation Products \| Int'l
Revenue
Net Sales									1,803	1,712
Structural Heart \| Cardiovascular and Neuromodulation Products
Revenue
Net Sales									1,239	1,083
Structural Heart \| Cardiovascular and Neuromodulation Products \| United States
Revenue
Net Sales									488	432
Structural Heart \| Cardiovascular and Neuromodulation Products \| Int'l
Revenue
Net Sales									751	651
Neuromodulation \| Cardiovascular and Neuromodulation Products
Revenue
Net Sales									864	808
Neuromodulation \| Cardiovascular and Neuromodulation Products \| United States
Revenue
Net Sales									690	636
Neuromodulation \| Cardiovascular and Neuromodulation Products \| Int'l
Revenue
Net Sales									$ 174	$ 172

Revenue - Remaining Performance Obligations (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01
Remaining Performance Obligations
Percentage of remaining performance obligation expected to be recognized in period	60.00%
Expected timing of satisfication period (in months)	24 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Remaining Performance Obligations
Percentage of remaining performance obligation expected to be recognized in period	16.00%
Expected timing of satisfication period (in months)	12 months
Diagnostic Products
Remaining Performance Obligations
Remaining performance obligations	$ 2,900
Cardiovascular and Neuromodulation Products
Remaining Performance Obligations
Remaining performance obligations	$ 410

Revenue - Practical Expedient (Details)	12 Months Ended
Revenue - Practical Expedient (Details)	Dec. 31, 2018
Revenue
Revenue, practical expedient, initial application and transition, completed contract, same reporting period	true
Practical expedient in remaining performance obligations related to contracts	true
Practical expedient in incremental costs of obtaining contracts with customers	true

Revenue - Assets Recognized for Costs to Obtain a Contract with a Customer (Details)	Dec. 31, 2018
Capitalized commission fees \| Minimum
Assets Recognized for Costs to Obtain a Contract with a Customer
Amortization period	2 years
Capitalized commission fees \| Maximum
Assets Recognized for Costs to Obtain a Contract with a Customer
Amortization period	10 years
Capitalized transmitter costs \| Minimum
Assets Recognized for Costs to Obtain a Contract with a Customer
Amortization period	8 years
Capitalized transmitter costs \| Maximum
Assets Recognized for Costs to Obtain a Contract with a Customer
Amortization period	10 years

Revenue - Other Contract Assets and Liabilities (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018 USD ($)
Contract Liabilities
Beginning Balance	$ 198
Unearned revenue from cash received during the period	304
Revenue recognized that was included in contract liability balance at beginning of period	(243)
Ending Balance	$ 259

Discontinued Operations and Assets Held for Disposition - By Disposal (Details) - USD ($) shares in Thousands, $ in Millions			1 Months Ended	3 Months Ended	12 Months Ended
	Feb. 27, 2015	Feb. 10, 2015	Apr. 30, 2015	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Discontinued Operations and Assets Held for Disposition
After tax gain						$ 16
Gain on sale of Mylan shares					$ 45
Developed markets branded generics pharmaceuticals business \| Mylan N.V. (Investee) \| Mylan
Discontinued Operations and Assets Held for Disposition
Number of ordinary shares received for sale of business	110,000
Percentage of ordinary shares received for sale of business	22.00%
Animal health business
Discontinued Operations and Assets Held for Disposition
After tax gain		$ 130		$ 16
Proceeds from the disposition of business		$ 230		$ 25
Equity securities \| Mylan N.V. (Investee)
Discontinued Operations and Assets Held for Disposition
Number of shares in investment sold			40,250		69,750
Proceeds from the sale of Mylan N.V. shares					$ 2,704		$ 2,290
Gain on sale of Mylan shares					$ 45		$ 207

Discontinued Operations and Assets Held for Disposition - Summary (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Feb. 28, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Sep. 30, 2016
Financial information for discontinued operations
Income tax benefits		$ 39	$ 109	$ 325
Gain on disposal of discontinued operations, net of tax
After tax gain				16
Dispositions held for sale \| AMO
Gain on disposal of discontinued operations, net of tax
Sale consideration					$ 4,325
After tax gain			728
Earnings (Loss) Before Tax			(18)	$ 30
Dispositions held for sale \| AMO \| Other (income) expense, net
Gain on disposal of discontinued operations, net of tax
Pretax gain	$ 1,163		$ 45

Discontinued Operations and Assets Held for Disposition - Summary of Assets Held for Disposition (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disposals as part of acquisitions
Current assets held for disposition	$ 9	$ 20
Triage MeterPro cardiovascular and toxicology business \| Dispositions held for sale
Disposals as part of acquisitions
Trade receivables, net	6	12
Total inventories	3	8
Current assets held for disposition	9	20
Net property and equipment		56
Intangible assets, net of amortization		18
Goodwill	17	102
Non-current assets held for disposition	17	176
Total assets held for disposition	$ 26	$ 196

Supplemental Financial Information - Other income and expense (Details) - USD ($) shares in Thousands, $ in Thousands	1 Months Ended		12 Months Ended
	Feb. 28, 2017	Apr. 30, 2015	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosures
Proceeds from the sale of Mylan N.V. shares				$ 2,704,000
Gain on sale of Mylan shares				$ 45,000
Mylan N.V. equity investment adjustment					$ 947,000
Equity securities \| Mylan N.V. (Investee)
Disclosures
Number of shares in investment sold		40,250		69,750
Proceeds from the sale of Mylan N.V. shares				$ 69,750
Gain on sale of Mylan shares				45,000		$ 207,000
Pre-tax gain on sale of disposal group				1,163,000
Other (income) expense, net
Disclosures
Income related to non-service cost component of net periodic benefit cost			$ 160,000	160,000	160,000
Other (income) expense, net \| Mylan N.V. (Investee)
Disclosures
Gain on sale of Mylan shares				2,704,000
Mylan N.V. equity investment adjustment					$ 947,000
AMO \| Dispositions held for sale \| Other (income) expense, net
Disclosures
Pre-tax gain on sale of disposal group	$ 1,163,000			$ 45,000

Supplemental Financial Information - Investments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Investments
Long-term Investments	$ 897	$ 883
Amount of carrying value in equity method investments	325
Amount of carrying value in equity method of accounting and other equity investments	211
Unrealized gain on investment	50
Equity securities
Investments
Long-term Investments	856	797
Equity securities \| St Jude Medical
Investments
Securities in mutual funds held in a rabbi trust	307	363
Other
Investments
Long-term Investments	$ 41	$ 86

Supplemental Financial Information - Other accrued liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Other Accrued Liabilities:
Accrued rebates payable to government agencies	$ 166	$ 124
Accrued other rebates	608	498
All other	3,006	3,189
Total	3,780	3,811
Accrued wholesaler chargeback rebates	$ 197	$ 178

Supplemental Financial Information - Post-employment obligations and other long-term liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Post-employment Obligations and Other Long-term Liabilities:
Defined benefit pension plans and post-employment medical and dental plans for significant plans	$ 2,040	$ 2,169
Deferred income taxes	2,056	2,006
All other	3,984	4,855
Total	8,080	9,030
All other disclosures
Net unrecognized tax benefits from acquisition	1,120	1,440	$ 972
Post-employment Obligations and Other Long-term Liabilities:
All other disclosures
Net unrecognized tax benefits from acquisition	465	835
Acquisition contingent consideration, noncurrent	$ 65	$ 100

Supplemental Financial Information - Foreign currency (Details) $ in Millions	12 Months Ended
	Dec. 31, 2016 USD ($)	Mar. 31, 2016	Feb. 17, 2016	Feb. 16, 2016
Foreign currency disclosures
Foreign currency exchange loss	$ 480
Venezuela
Foreign currency disclosures
Foreign currency exchange loss	$ 480
DIPRO
Foreign currency disclosures
Official rate to U.S. dollar			10	6.3
DICOM
Foreign currency disclosures
Official rate to U.S. dollar		263

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Changes in accumulated other comprehensive income (loss), net of income taxes
Beginning of the period	$ 30,897
Other Comprehensive Income (Loss)	(1,192)	$ 1,052	$ (605)
End of the period	30,524	30,897
Accumulated Other Comprehensive Income (Loss):
Changes in accumulated other comprehensive income (loss), net of income taxes
Beginning of the period	(6,062)	(7,263)
Impact of adoption of new accounting standards	(332)
Impact of business dispositions		149
Other comprehensive income (loss) before reclassifications	(1,448)	1,044
(Income) loss amounts reclassified from accumulated other comprehensive income	256	8
Other Comprehensive Income (Loss)	(1,192)	1,052	(605)
End of the period	(7,586)	(6,062)	(7,263)
Cumulative Foreign Currency Translation Adjustments
Changes in accumulated other comprehensive income (loss), net of income taxes
Beginning of the period	(3,452)	(4,959)
Impact of business dispositions		142
Other comprehensive income (loss) before reclassifications	(1,488)	1,365
(Income) loss amounts reclassified from accumulated other comprehensive income	28
Other Comprehensive Income (Loss)	(1,460)	1,365
End of the period	(4,912)	(3,452)	(4,959)
Net Actuarial Losses and Prior Service Costs and Credits
Changes in accumulated other comprehensive income (loss), net of income taxes
Beginning of the period	(2,521)	(2,284)
Impact of adoption of new accounting standards	(337)
Impact of business dispositions		6
Other comprehensive income (loss) before reclassifications	(18)	(333)
(Income) loss amounts reclassified from accumulated other comprehensive income	150	90
Other Comprehensive Income (Loss)	132	(243)
End of the period	(2,726)	(2,521)	(2,284)
Cumulative Unrealized Gains (Losses) on Marketable Equity Securities
Changes in accumulated other comprehensive income (loss), net of income taxes
Beginning of the period	(5)	(69)
Impact of adoption of new accounting standards	5
Other comprehensive income (loss) before reclassifications		182
(Income) loss amounts reclassified from accumulated other comprehensive income		(118)
Other Comprehensive Income (Loss)		64
End of the period		(5)	(69)
Cumulative Gains (Losses) on Derivative Instruments Designated as Cash Flow Hedges
Changes in accumulated other comprehensive income (loss), net of income taxes
Beginning of the period	(84)	49
Impact of business dispositions		1
Other comprehensive income (loss) before reclassifications	58	(170)
(Income) loss amounts reclassified from accumulated other comprehensive income	78	36
Other Comprehensive Income (Loss)	136	(134)
End of the period	$ 52	$ (84)	$ 49

Business Acquisitions - St. Jude (Details) - USD ($) $ / shares in Units, $ in Millions			12 Months Ended
	Jan. 20, 2017	Jan. 04, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2018
Allocation of the fair value
Goodwill, non-deductible			$ 24,020		$ 23,254
Disposals as part of acquisitions
Gain or loss on sale			$ 1,163	$ 25
St Jude Medical
Business acquisitions
Total consideration for business acquisition		$ 23,600
Cash paid for business acquisition		13,600
Issue of equity for business acquisition		$ 10,000
Number of equity shares issued for business acquisition		254,000,000
Debt assumed and subsequently repaid or refinanced		$ 5,900
Share price of shares received in acquisition per agreement (in dollars per share)		$ 46.75
Share received (in shares)		0.8708
Stock price (in dollars per share)		$ 39.36
Expected value per common share (in dollars per share)		$ 81
Allocation of the fair value
Acquired intangible assets, non-deductible		$ 15,500
Goodwill, non-deductible		13,100
Acquired net tangible assets		3,000
Deferred income taxes recorded at acquisition		(2,700)
Net debt		(5,300)
Total final allocation of fair value		23,600
Trade accounts receivable		1,100
Inventory		1,700
Other current assets		176
Property and equipment		1,500
Other long-term assets		455
Trade accounts payable and other current liabilities		1,100
Other non-current liabilities		870
St Jude Medical \| 120-day senior unsecured bridge term loan
Business acquisitions
Proceeds from bridge loan		$ 2,000
Maturity period		120 days
St. Jude Medical Angio-Seal and Femoseal vascular closure and Abbott's Vado Steerable Sheath businesses \| Disposal Group, Disposed of by Sale, Not Discontinued Operations
Disposals as part of acquisitions
Proceeds from business disposition				$ 1,120
Gain or loss on sale	$ 0

Business Acquisitions - Alere Inc. (Details) $ / shares in Units, $ in Millions			12 Months Ended
	Oct. 31, 2017 USD ($)	Oct. 03, 2017 USD ($) $ / shares	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2018 USD ($)	Sep. 30, 2017 USD ($) installment
Allocation of the fair value
Goodwill, non-deductible			$ 24,020		$ 23,254
Disposals as part of acquisitions
Gain or loss on sale			$ 1,163	$ 25
Alere Inc
Business acquisitions
Share price of shares received in acquisition per agreement (in dollars per share) \| $ / shares		$ 51.00
Issue of equity for business acquisition		$ 4,500
Debt assumed and subsequently repaid or refinanced		3,000
Allocation of the fair value
Acquired intangible assets, non-deductible		3,500
Goodwill, non-deductible		3,700
Acquired net tangible assets		1,000
Deferred income taxes recorded at acquisition		(400)
Net debt		(2,600)
Preferred stock		(700)
Total allocation of fair value		4,500
Trade accounts receivable		430
Inventory		425
Other current assets		225
Property and equipment		540
Other long-term assets		210
Trade accounts payable and other current liabilities		675
Other non-current liabilities		$ 145
Disposal Group, held for disposition \| Alere Inc
Disposals as part of acquisitions
Gain or loss on sale	$ 0
Triage MeterPro Business \| Disposal Group, held for disposition \| Alere Inc
Disposals as part of acquisitions
Sale consideration						$ 400
Sale consideration receivable in annual installments						$ 240
Number of installments \| installment						6
Triage MeterPro Business \| Disposal Group, held for disposition \| Alere Inc \| Maximum
Disposals as part of acquisitions
Contingent consideration asset						$ 40
Epocal Inc. \| Disposal Group, held for disposition \| Alere Inc
Disposals as part of acquisitions
Sale consideration						$ 200

Business Acquisitions - Revenue and Earnings (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Consolidated Statement of Earnings
Net Sales	$ 7,765	$ 7,656	$ 7,767	$ 7,390	$ 7,589	$ 6,829	$ 6,637	$ 6,335	$ 30,578	$ 27,390	$ 20,853
Pre-tax loss									2,873	2,231	1,413
Amortization of intangible assets									2,178	1,975	550
Amortization of inventory step-up									$ 32	907
St Jude Medical Inc and Alere Inc.
Consolidated Statement of Earnings
Net Sales										6,500
Pre-tax loss										(1,300)
Amortization of intangible assets										1,500
Amortization of inventory step-up										907
Pro forma financial information
Pro forma consolidated net sales										28,900	28,900
Pro forma consolidated net earnings (loss)										750	(485)
Amortization of inventory step-up										907	940
Amortization of intangibles										$ 225	$ 1,700

Business Acquisitions - Alere Preferred Stock Tender Offer (Details) - Convertible Perpetual Preferred Stock, Series B - Alere Inc - $ / shares shares in Thousands	Oct. 03, 2017	Jul. 17, 2017	Dec. 31, 2017
Acquisitions - other disclosures
Number of shares of stock to be acquired for cash per a tender offer (in shares)		1,770
Price of shares to be acquired for cash per a tender offer (n dollars per share)		$ 402
Number of shares accepted for payment per tender offer (in shares)	1,748
Remaining liquidation preference share (in dollars per share)			$ 400.00

Goodwill and Intangible Assets - Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Goodwill and Intangible Assets
Goodwill	$ 23,254	$ 24,020
Change in goodwill due to foreign currency translation adjustments	440	653
Established Pharmaceutical Products
Goodwill and Intangible Assets
Goodwill	3,000
Nutritional Products
Goodwill and Intangible Assets
Goodwill	286
Diagnostic Products
Goodwill and Intangible Assets
Goodwill	3,700
Cardiovascular and Neuromodulation Products
Goodwill and Intangible Assets
Goodwill	15,300
St Jude Medical Inc and Alere Inc.
Goodwill and Intangible Assets
Goodwill acquired		17,200
Decrease in goodwill due to purchase price accounting adjustments	$ 326
Terumo, Quidel and Siemens
Goodwill and Intangible Assets
Decrease in goodwill due to sale of certain businessess		$ 1,500

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Goodwill and Intangible Assets
Gross amount of amortizable intangible assets	$ 25,700	$ 25,600
Accumulated amortization of intangible assets	10,400	8,100
Increase in intangible assets due to purchase price allocation adjustments	280
Decrease in intangible assets due to foreign currency translation adjustments	281
Change in amortizable intangible assets due to sale of businesses	280
Finite Lived Intangible Assets, Foreign Currency Translation Gain (Loss)	(281)
Indefinite-lived intangible assets related to in-process research and development acquired in a business combination	3,600	3,900
Estimated annual amortization expense, intangible assets, 2019	2,000
Estimated annual amortization expense, intangible assets, 2020	2,200
Estimated annual amortization expense, intangible assets, 2021	2,100
Estimated annual amortization expense, intangible assets, 2022	2,000
Estimated annual amortization expense, intangible assets, 2023	$ 2,000
St Jude Medical Inc and Alere Inc.
Goodwill and Intangible Assets
Amortizable intangible assets acquired		14,500
Indefinite-lived intangible assets acquired		4,500
Quidel and Siemens \| St Jude Medical Inc and Alere Inc.
Goodwill and Intangible Assets
Decrease in intangible assets due to sale of certain businesses		210
Cardiovascular and Neuromodulation Products segment
Goodwill and Intangible Assets
Impairment of indefinite-lived intangible assets in-process research and development project		$ 53
Minimum
Goodwill and Intangible Assets
Amortization period of intangible assets	2 years
Maximum
Goodwill and Intangible Assets
Amortization period of intangible assets	20 years
Weighted average
Goodwill and Intangible Assets
Amortization period of intangible assets	12 years

Restructuring Plans (Details) - USD ($) $ in Millions	12 Months Ended
Restructuring Plans (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Restructuring Plan in 2017 and 2018, St Jude and Alere Integrations
Restructuring costs
Liabilities assumed as part of business acquisitions			$ 23
Restructuring charges	$ 52	$ 187
Payments and other adjustments	(79)	(142)
Accrued balance at end of period	41	68
Restructuring Plan from 2016 to 2018
Restructuring costs
Restructuring charges	28	120	32
Payments and other adjustments	(77)	(18)	(15)
Accrued balance at end of period	70	119	17
Employee related severance and other charges	28	120	32
Accelerated depreciation in restructuring charges		2	2
Cost of products sold \| Restructuring Plan in 2017 and 2018, St Jude and Alere Integrations
Restructuring costs
Restructuring charges	5	5
Cost of products sold \| Restructuring Plan from 2016 to 2018
Restructuring costs
Restructuring charges	10	7	9
Research and development \| Restructuring Plan in 2017 and 2018, St Jude and Alere Integrations
Restructuring costs
Restructuring charges	10
Research and development \| Restructuring Plan from 2016 to 2018
Restructuring costs
Restructuring charges	2	77	5
Selling, general and administrative expense \| Restructuring Plan in 2017 and 2018, St Jude and Alere Integrations
Restructuring costs
Restructuring charges	37	182
Selling, general and administrative expense \| Restructuring Plan from 2016 to 2018
Restructuring costs
Restructuring charges	$ 16	$ 36	$ 18

Incentive Stock Program - General (Details) - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Apr. 30, 2017
Stock options
Share-based Compensation Arrangement by Share-based Payment Award
Stock options granted during the period (in shares)	5,760,221
Award vesting period	3 years
Stock options outstanding, weighted-average exercise price (in dollars per share)	$ 42.21	$ 36.85
Stock options \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Maximum term of option	10 years
Stock options \| St Jude Medical
Share-based Compensation Arrangement by Share-based Payment Award
Number of awards converted as part of acquisition (in shares)	7,364,571
Stock options outstanding, weighted-average exercise price (in dollars per share)	$ 30.50
Restricted stock awards
Share-based Compensation Arrangement by Share-based Payment Award
Award vesting period	3 years
Portion of awards vesting in any one year for awards that vest over 5 years (as a percent)	33.00%
For awards with a term of five years, number of years in which no more than one-third of the award vests	1 year
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award
Award vesting period	3 years
Number of shares of common stock received for each vested restricted stock unit (in shares)	1
Restricted stock units \| St Jude Medical
Share-based Compensation Arrangement by Share-based Payment Award
Number of awards converted as part of acquisition (in shares)	2,324,500
Awards and units outstanding, weighted-average grant-date fair value (in dollars per share)	$ 37.69
2017 Incentive Stock Program
Share-based Compensation Arrangement by Share-based Payment Award
Incentive stock programs, shares authorized for issuance			170,000,000
Incentive stock programs, shares reserved for future issuance	144,000,000
2017 Incentive Stock Program \| Stock options
Share-based Compensation Arrangement by Share-based Payment Award
Stock options granted during the period (in shares)	5,760,221
2017 Incentive Stock Program \| Restricted stock awards
Share-based Compensation Arrangement by Share-based Payment Award
Grants in period, restricted stock (in shares)	871,331
2017 Incentive Stock Program \| Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award
Awards and units granted during period (in shares)	8,093,546

Incentive Stock Program - Restricted Awards and Units (Details) - Restricted stock awards and restricted stock units - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award
Awards and units outstanding (in shares)	15,952,602	15,518,719
Awards and units outstanding, weighted-average grant-date fair value (in dollars per share)	$ 52.11	$ 42.82
Awards and units granted during period (in shares)	8,964,877
Awards and units granted during period, weighted-average grant-date fair value (in dollars per share)	$ 60.10
Awards and units vested during period (in shares)	7,522,375
Awards and units vested during period, weighted-average grant-date fair value (in dollars per share)	$ 42.85
Awards and units lapsed during period (in shares)	1,008,619
Awards and units lapsed during period, weighted-average grant-date fair value (in dollars per share)	$ 49.27
Fair value of awards and units vested	$ 458	$ 348	$ 225

Incentive Stock Program - Options Activity (Details) - Stock options - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Stock Options Outstanding During The Period
Stock options outstanding at the beginning of the period (in shares)	35,813,800
Stock options granted during the period (in shares)	5,760,221
Stock options exercised during the period (in shares)	(7,690,569)
Stock options lapsed during the period (in shares)	(808,839)
Stock options outstanding at the end of the period (in shares)	33,074,613	35,813,800
Exercisable options outstanding at the beginning of the period (in shares)	22,216,890
Exercisable options outstanding at the end of the period (in shares)	21,660,783	22,216,890
Stock Options Weighted Average Exercise Price
Stock options outstanding at the beginning of the period, weighted-average exercise price (in dollars per share)	$ 36.85
Stock options granted during the period, weighted-average exercise price (in dollars per share)	60.02
Stock options exercised during the period, weighted-average exercise price (in dollars per share)	30.34
Stock options lapsed during the period, weighted-average exercise price (in dollars per share)	44.77
Stock options outstanding at the end of the period, weighted-average exercise price (in dollars per share)	42.21	$ 36.85
Exercisable options outstanding weighted-average exercise price at the beginning of the period (in dollars per share)	34.54
Exercisable options outstanding weighted-average exercise price at the end of the period (in dollars per share)	$ 38.05	$ 34.54
Stock Options Weighted Average Remaining Life (Years)
Stock options outstanding, weighted-average remaining life	6 years 3 months 18 days	5 years 9 months 18 days
Exercisable options, weighted-average remaining life	5 years 3 months 18 days	4 years 8 months 12 days
Aggregate intrinsic value of options outstanding	$ 996
Aggregate intrinsic value of options exercisable	743
Total intrinsic value of options exercised	249	$ 233	$ 98
Total unrecognized compensation cost	$ 364
Total unrecognized compensation cost, recognition period	3 years

Incentive Stock Program - Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award
U.S. Federal corporate tax rate (as a percent)	21.00%	35.00%	35.00%
Accounting Standards Update 2016-09
Share-based Compensation Arrangement by Share-based Payment Award
Tax benefit recognized in total non-cash compensation expense	$ 120
Stock options
Share-based Compensation Arrangement by Share-based Payment Award
Total non-cash compensation expense charged against income	477	$ 406	$ 310
Tax benefit recognized in total non-cash compensation expense	$ 185	$ 242	$ 100

Incentive Stock Program - Options Fair Value (Details) - Stock options - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award
Fair value of an option granted (in dollars per share)	$ 10.93	$ 6.54	$ 4.38
Fair value assumptions:
Risk-free interest rate (as a percent)	2.70%	2.10%	1.40%
Average life of options (years)	6 years	6 years	6 years
Volatility (as a percent)	19.00%	18.00%	17.00%
Dividend yield (as a percent)	1.90%	2.40%	2.70%

Debt and Lines of Credit - Schedule (Details) - USD ($) $ in Millions	Jan. 25, 2019	Dec. 31, 2018	Oct. 31, 2018	Oct. 28, 2018	Sep. 28, 2018	Jun. 22, 2018	Dec. 31, 2017	Jun. 30, 2017	Dec. 31, 2016
Debt and Lines of Credit
Unamortized debt issuance costs		$ (102)					$ (119)
Other, including fair value adjustments relating to interest rate hedge contracts designated as fair value hedges		(148)					(121)
Long-term debt		19,359					27,210
Current maturities of long-term debt		7					508
Total carrying amount		19,366					27,718
5.125% Notes, due 2019
Debt and Lines of Credit
Long-term debt							$ 947
Interest rate percentage							5.125%		5.125%
2.35% Notes, due 2019
Debt and Lines of Credit
Long-term debt							$ 2,850
Interest rate percentage					2.35%	2.35%	2.35%
2.50% Line of credit borrowing due 2019
Debt and Lines of Credit
Long-term debt							$ 1,150
Interest rate percentage							2.50%
0.00% Notes, due 2020
Debt and Lines of Credit
Long-term debt		$ 1,300
Interest rate percentage		0.00%
2.80% Notes, due 2020
Debt and Lines of Credit
Long-term debt	$ 500	$ 500					$ 500
Interest rate percentage	2.80%	2.80%					2.80%
4.125% Notes, due 2020
Debt and Lines of Credit
Long-term debt							$ 597
Interest rate percentage				4.125%			4.125%		4.125%
2.00% Notes, due 2020
Debt and Lines of Credit
Long-term debt							$ 750
Interest rate percentage				2.00%			2.00%	2.00%
2.90% Notes, due 2021
Debt and Lines of Credit
Long-term debt		$ 2,850					$ 2,850
Interest rate percentage		2.90%					2.90%
2.55% Notes, due 2022
Debt and Lines of Credit
Long-term debt		$ 750					$ 750
Interest rate percentage		2.55%					2.55%	2.55%
2.62% Term loan due 2022
Debt and Lines of Credit
Long-term debt							$ 2,800
Interest rate percentage							2.62%
0.875% Notes, due 2023
Debt and Lines of Credit
Long-term debt		$ 1,303
Interest rate percentage		0.875%
3.25% Notes, due 2023
Debt and Lines of Credit
Long-term debt							$ 900
Interest rate percentage							3.25%
3.40% Notes, due 2023
Debt and Lines of Credit
Long-term debt		$ 1,050					$ 1,500
Interest rate percentage		3.40%	3.40%	3.40%			3.40%
3.75% Notes, due 2026
Debt and Lines of Credit
Long-term debt		$ 1,700					$ 3,000
Interest rate percentage		3.75%	3.75%	3.75%			3.75%
3.875% Notes, due 2025
Debt and Lines of Credit
Long-term debt		$ 500					$ 500
Interest rate percentage		3.875%					3.875%
2.95% Notes, due 2025
Debt and Lines of Credit
Long-term debt		$ 1,000					$ 1,000
Interest rate percentage		2.95%					2.95%
1.50% Notes, due 2026
Debt and Lines of Credit
Long-term debt		$ 1,300
Interest rate percentage		1.50%
4.75% Notes, due 2036
Debt and Lines of Credit
Long-term debt		$ 1,650					$ 1,650
Interest rate percentage		4.75%					4.75%
6.15% Notes, due 2037
Debt and Lines of Credit
Long-term debt		$ 547					$ 547
Interest rate percentage		6.15%					6.15%
6.00% Notes, due 2039
Debt and Lines of Credit
Long-term debt		$ 515					$ 515
Interest rate percentage		6.00%					6.00%
5.30% Notes, due 2040
Debt and Lines of Credit
Long-term debt		$ 694					$ 694
Interest rate percentage		5.30%					5.30%
4.75% Notes, due 2043
Debt and Lines of Credit
Long-term debt		$ 700					$ 700
Interest rate percentage		4.75%					4.75%
4.90% Notes, due 2046
Debt and Lines of Credit
Long-term debt		$ 3,250					$ 3,250
Interest rate percentage		4.90%					4.90%

Debt and Lines of Credit (Details) € in Millions, $ in Millions											1 Months Ended	3 Months Ended	12 Months Ended
	Nov. 30, 2018 USD ($)	Oct. 28, 2018 USD ($)	Sep. 28, 2018 USD ($)	Sep. 27, 2018 USD ($)	Sep. 17, 2018 USD ($)	Jun. 22, 2018 USD ($)	Mar. 22, 2018 USD ($)	Oct. 03, 2017 USD ($)	Oct. 02, 2017 USD ($)	Jan. 29, 2017	Feb. 29, 2016 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Feb. 24, 2019 USD ($)	Jan. 25, 2019 USD ($)	Oct. 31, 2018	Sep. 27, 2018 EUR (€)	Feb. 16, 2018 USD ($)	Jun. 30, 2017	Mar. 31, 2017 USD ($)	Nov. 30, 2016 USD ($)
Debt and Lines of Credit
Repayments of debt		$ 4,000
Long-term debt												$ 27,210	$ 19,359	$ 27,210
Long-terms authorized for redemption																				$ 5,000
Debt outstanding												27,718	19,366	27,718
Debt issued - principal amount																							$ 15,100
Net charge for early repayment of debt							$ 14						153
Proceeds from issuance of debt													4,009	6,742	$ 14,934
Other, including fair value adjustments relating to interest rate hedge contracts designated as fair value hedges												(121)	(148)	(121)
Forecast
Debt and Lines of Credit
Authorization available for redemption of debt																$ 700
2014 revolving credit agreement
Debt and Lines of Credit
Repayments of debt												550
Proceeds from line of credit								$ 1,700	$ 0
Maximum borrowing capacity	$ 0												5,000
2018 Five Year Credit Agreement
Debt and Lines of Credit
Maturity period	5 years
Maximum borrowing capacity	$ 5,000
2.0% Notes, due 2018
Debt and Lines of Credit
Repayments of debt					$ 500
Interest rate percentage					2.00%
5.125% Notes, due 2019
Debt and Lines of Credit
Repayments of debt							947
Long-term debt												$ 947		$ 947
Interest rate percentage												5.125%		5.125%	5.125%
2.35% Notes, due 2019
Debt and Lines of Credit
Repayments of debt			$ 495			$ 1,300	1,055
Long-term debt												$ 2,850		$ 2,850
Interest rate percentage			2.35%			2.35%						2.35%		2.35%
Debt issued - principal amount							$ 2,850
Outstanding principal amount						$ 1,795
2.80% Notes, due 2020
Debt and Lines of Credit
Long-term debt												$ 500	$ 500	$ 500			$ 500
Interest rate percentage												2.80%	2.80%	2.80%			2.80%
Interest rate swap to 4.125% and 5.125% notes
Debt and Lines of Credit
Unwound interest rate swaps															$ 1,500
364-day senior unsecured bridge term loan facility \| Unfunded Loan Commitment
Debt and Lines of Credit
Maturity period											364 days
Maximum borrowing capacity											$ 9,000
Maximum extension period available automatically										90 days
Senior Notes
Debt and Lines of Credit
Debt issued - principal amount																						$ 2,900
2.00% Notes, due 2020
Debt and Lines of Credit
Repayments of debt		$ 750
Long-term debt												$ 750		$ 750
Interest rate percentage		2.00%										2.00%		2.00%							2.00%
4.125% Notes, due 2020
Debt and Lines of Credit
Repayments of debt		$ 597
Long-term debt												$ 597		$ 597
Interest rate percentage		4.125%										4.125%		4.125%	4.125%
3.25% Notes due 2023
Debt and Lines of Credit
Repayments of debt		$ 900
Interest rate percentage		3.25%
3.40% Note due in 2023 and the 3.75% Note due in 2026
Debt and Lines of Credit
Unwound interest rate swaps		$ 1,100
3.40% Notes, due 2023
Debt and Lines of Credit
Repayments of debt		$ 450
Long-term debt												$ 1,500	$ 1,050	$ 1,500
Interest rate percentage		3.40%										3.40%	3.40%	3.40%				3.40%
3.75% Notes, due 2026
Debt and Lines of Credit
Repayments of debt		$ 1,300
Long-term debt												$ 3,000	$ 1,700	$ 3,000
Interest rate percentage		3.75%										3.75%	3.75%	3.75%				3.75%
Abbott Ireland Financing DAC
Debt and Lines of Credit
Proceeds from issuance of debt				$ 4
Abbott Ireland Financing DAC \| Long-term Debt
Debt and Lines of Credit
Debt issued - principal amount \| €																			€ 3,420
Abbott Ireland Financing DAC \| Non-interest bearing Senior Notes due 2020
Debt and Lines of Credit
Debt issued - principal amount \| €																			€ 1,140
Debt issuance price (as a percent)																			99.727
Abbott Ireland Financing DAC \| 0.875% Senior Notes due 2023
Debt and Lines of Credit
Interest rate percentage																			0.875%
Debt issued - principal amount \| €																			€ 1,140
Debt issuance price (as a percent)																			99.912
Abbott Ireland Financing DAC \| 1.50% Senior Notes due 2026
Debt and Lines of Credit
Interest rate percentage																			1.50%
Debt issued - principal amount \| €																			€ 1,140
Debt issuance price (as a percent)																			99.723

Debt and Lines of Credit - St. Jude (Details) $ in Millions		3 Months Ended
Debt and Lines of Credit - St. Jude (Details) $ in Millions	Oct. 28, 2018 USD ($)	Mar. 31, 2017 USD ($) NotesSeries	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Nov. 30, 2016 USD ($)
Debt and Lines of Credit
Debt issued - principal amount					$ 15,100.0
Debt outstanding			$ 19,366.0	$ 27,718.0
Repayments of debt	$ 4,000.0
St Jude Medical
Debt and Lines of Credit
Repayments of debt		$ 2,800.0
Senior Notes
Debt and Lines of Credit
Debt issued - principal amount		2,900.0
Senior Notes \| St Jude Medical
Debt and Lines of Credit
Debt outstanding		$ 194.2
Number of series of existing notes \| NotesSeries		5
2.00% Senior Notes due 2018
Debt and Lines of Credit
Debt issued - principal amount		$ 473.8
Interest rate percentage		2.00%
2.80% Senior Notes due 2020
Debt and Lines of Credit
Debt issued - principal amount		$ 483.7
Interest rate percentage		2.80%
3.25% Senior Notes due 2023
Debt and Lines of Credit
Debt issued - principal amount		$ 818.4
Interest rate percentage		3.25%
3.875% Senior Notes due 2025
Debt and Lines of Credit
Debt issued - principal amount		$ 490.7
Interest rate percentage		3.875%
4.75% Senior Notes due 2043
Debt and Lines of Credit
Debt issued - principal amount		$ 639.1
Interest rate percentage		4.75%

Debt and Lines of Credit - Loan Facility (Details) - USD ($) $ in Millions						1 Months Ended	3 Months Ended		12 Months Ended
	Oct. 28, 2018	Oct. 03, 2017	Oct. 02, 2017	Jul. 31, 2017	Jan. 04, 2017	Mar. 31, 2017	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2017	Dec. 31, 2018	Nov. 30, 2018
Debt and Lines of Credit
Repayments of debt	$ 4,000
Short-term debt outstanding							$ 206		$ 206	$ 200
2014 revolving credit agreement
Debt and Lines of Credit
Repayments of debt							550
Maximum borrowing capacity										5,000	$ 0
Proceeds from line of credit		$ 1,700	$ 0
St Jude Medical
Debt and Lines of Credit
Repayments of debt								$ 2,800
Alere Inc
Debt and Lines of Credit
Proceeds from bridge loan		$ 2,800
Maturity period				5 years
Repayments of debt							3,000
Maximum borrowing capacity				$ 2,800
120-day senior unsecured bridge term loan \| St Jude Medical
Debt and Lines of Credit
Proceeds from bridge loan					$ 2,000
Maturity period					120 days
Repayments of debt								$ 2,000
364-day yen-denominated debt
Debt and Lines of Credit
Maturity period									364 days
Short-term debt outstanding							$ 195		$ 195	$ 199
Yen-denominated short-term debt
Debt and Lines of Credit
Debt paid off						$ 479			$ 479

Debt and Lines of Credit - Senior Notes (Details) $ in Millions	Nov. 30, 2016 USD ($)
Debt and Lines of Credit
Debt issued - principal amount	$ 15,100
2.35% Senior Notes, due 2019
Debt and Lines of Credit
Debt issued - principal amount	$ 2,850
Interest rate percentage	2.35%
2.90% Senior Notes, due 2021
Debt and Lines of Credit
Debt issued - principal amount	$ 2,850
Interest rate percentage	2.90%
3.40% Senior Notes, due 2023
Debt and Lines of Credit
Debt issued - principal amount	$ 1,500
Interest rate percentage	3.40%
3.75% Senior Notes, due 2026
Debt and Lines of Credit
Debt issued - principal amount	$ 3,000
Interest rate percentage	3.75%
4.75% Senior Notes, due 2036
Debt and Lines of Credit
Debt issued - principal amount	$ 1,650
Interest rate percentage	4.75%
4.90% Senior Notes, due 2046
Debt and Lines of Credit
Debt issued - principal amount	$ 3,250
Interest rate percentage	4.90%
Interest rate swaps
Debt and Lines of Credit
Notional amount of contracts entered during the period	$ 3,000

Debt and Lines of Credit - Available Credit and Commitment (Details) - USD ($) $ in Billions		1 Months Ended
	Jan. 29, 2017	Feb. 29, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Debt and Lines of Credit
Unused lines of credit			$ 5.0
Weighted-average interest rate on short-term borrowings			0.40%	0.30%	0.60%
364-day senior unsecured bridge term loan facility \| Unfunded Loan Commitment
Debt and Lines of Credit
Maturity period		364 days
Maximum borrowing capacity		$ 9.0
Maximum extension period available automatically	90 days

Debt and Lines of Credit - Principal Payments (Details) $ in Millions	Dec. 31, 2018 USD ($)
Principal payments of long-term debt
Principal payments required in 2019	$ 7
Principal payments required in 2020	1,800
Principal payments required in 2021	2,900
Principal payments required in 2022	750,000
Principal payments required in 2023	2,300
Principal payments required in 2024 and thereafter	$ 11,800

Financial Instruments, Derivatives and Fair Value Measures - Contracts (Details) - USD ($) $ in Millions	1 Months Ended			12 Months Ended
	Oct. 31, 2018	Mar. 31, 2017	Dec. 31, 2016	Dec. 31, 2018	Dec. 31, 2017	Oct. 28, 2018	Jun. 30, 2017
Derivative instruments, notional amount and fair value
Fair Value - Liabilities				$ 195	$ 298
Yen-denominated short-term debt
Derivative instruments, notional amount and fair value
Repayment of short-term debt designated as a hedge of the net investment in a foreign subsidiary		$ 479			$ 479
3.40% Note due in 2023 and the 3.75% Note due in 2026
Derivative instruments, notional amount and fair value
Unwound interest rate swaps						$ 1,100
3.40% Notes, due 2023
Derivative instruments, notional amount and fair value
Interest rate percentage	3.40%			3.40%	3.40%	3.40%
3.75% Notes, due 2026
Derivative instruments, notional amount and fair value
Interest rate percentage	3.75%			3.75%	3.75%	3.75%
Interest rate swap to 2.00% and 2.55% notes
Derivative instruments, notional amount and fair value
Unwound interest rate swaps							$ 1,500
2.00% Notes, due 2020
Derivative instruments, notional amount and fair value
Interest rate percentage					2.00%	2.00%	2.00%
2.55% Notes, due 2022
Derivative instruments, notional amount and fair value
Interest rate percentage				2.55%	2.55%		2.55%
Interest rate swap to 4.125% and 5.125% notes
Derivative instruments, notional amount and fair value
Unwound interest rate swaps			$ 1,500
Proceeds from unwinding of derivatives			$ 55
4.125% Notes, due 2020
Derivative instruments, notional amount and fair value
Interest rate percentage			4.125%		4.125%	4.125%
5.125% Notes, due 2019
Derivative instruments, notional amount and fair value
Interest rate percentage			5.125%		5.125%
Interest rate swap to 3.40% and 3.75% notes
Derivative instruments, notional amount and fair value
Unwound interest rate swaps	$ 1,100
Payments to unwinding of derivative instruments	$ 90
Designated as hedging instrument \| Short-term borrowings \| Net investment hedges
Derivative instruments, notional amount and fair value
Fair Value - Liabilities			$ 454
Designated as hedging instrument \| Foreign currency forward exchange contracts \| Cash flow hedges
Derivative instruments, notional amount and fair value
Gross notional amount				$ 5,100	$ 3,300
Minimum length of time over which accumulated gains and losses will be recognized in Cost of products sold				12 months
Maximum length of time over which accumulated gains and losses will be recognized in Cost of products sold				18 months
Designated as hedging instrument \| Interest rate swaps \| Fair value hedges
Derivative instruments, notional amount and fair value
Gross notional amount			5,500	$ 2,900	4,000
Not designated as hedging instrument \| Foreign currency forward exchange contracts
Derivative instruments, notional amount and fair value
Gross notional amount			$ 14,900	$ 13,600	$ 20,100

Financial Instruments, Derivatives and Fair Value Measures - Location of Derivative Instruments (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Derivative instruments, notional amount and fair value
Fair Value - Assets	$ 114	$ 138
Fair Value - Liabilities	195	298
Designated as hedging instrument \| Short-term borrowings \| Net investment hedges
Derivative instruments, notional amount and fair value
Fair Value - Liabilities			$ 454
Designated as hedging instrument \| Interest rate swaps \| Post-employment obligations, deferred income taxes and other long-term liabilities \| Fair value hedges
Derivative instruments, notional amount and fair value
Fair Value - Liabilities	100	93
Designated as hedging instrument \| Foreign currency forward exchange contracts \| Other prepaid expenses and receivables
Derivative instruments, notional amount and fair value
Fair Value - Assets	81	21
Designated as hedging instrument \| Foreign currency forward exchange contracts \| Other accrued liabilities
Derivative instruments, notional amount and fair value
Fair Value - Liabilities	44	106
Not designated as hedging instrument \| Foreign currency forward exchange contracts \| Other prepaid expenses and receivables
Derivative instruments, notional amount and fair value
Fair Value - Assets	33	117
Not designated as hedging instrument \| Foreign currency forward exchange contracts \| Other accrued liabilities
Derivative instruments, notional amount and fair value
Fair Value - Liabilities	$ 51	$ 99

Financial Instruments, Derivatives and Fair Value Measures - Gain or Loss (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Interest rate swaps \| Fair value hedges \| Designated as hedging instrument \| Interest expense
Gain (loss) on derivatives
Income (expense) and Gain (loss) Reclassified into Income	$ (97)	$ (24)	$ (127)
Foreign currency forward exchange contracts \| Not designated as hedging instrument \| Net foreign exchange loss (gain)
Gain (loss) on derivatives
Income (expense) and Gain (loss) Reclassified into Income	(100)	(64)	8
Foreign currency forward exchange contracts \| Cash flow hedges \| Designated as hedging instrument
Gain (loss) on derivatives
Gain (loss) Recognized in Other Comprehensive Income (loss)	73	(226)	49
Foreign currency forward exchange contracts \| Cash flow hedges \| Designated as hedging instrument \| Cost of products sold
Gain (loss) on derivatives
Income (expense) and Gain (loss) Reclassified into Income	$ (114)	(48)	48
Debt \| Net investment hedges \| Designated as hedging instrument
Gain (loss) on derivatives
Gain (loss) Recognized in Other Comprehensive Income (loss)		$ (25)	$ (15)

Financial Instruments, Derivatives and Fair Value Measures - Carrying Value and Fair Value (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Fair value, asset and liability measures
Long-term Investments	$ 897	$ 883
Foreign currency forward exchange contracts, receivable position	114	138
Foreign currency forward exchange contracts, (payable) position	(195)	(298)
Equity securities
Fair value, asset and liability measures
Long-term Investments	856	797
Carrying value
Fair value, asset and liability measures
Total Long-Term Debt	(19,366)	(27,718)
Foreign currency forward exchange contracts, receivable position	114	138
Foreign currency forward exchange contracts, (payable) position	(95)	(205)
Interest rate hedge contract, (payable) position	(100)	(93)
Carrying value \| Equity securities
Fair value, asset and liability measures
Long-term Investments	856	797
Carrying value \| Other
Fair value, asset and liability measures
Long-term Investments	41	86
Fair value
Fair value, asset and liability measures
Total Long-Term Debt	(19,871)	(29,018)
Foreign currency forward exchange contracts, receivable position	114	138
Foreign currency forward exchange contracts, (payable) position	(95)	(205)
Interest rate hedge contract, (payable) position	(100)	(93)
Fair value \| Equity securities
Fair value, asset and liability measures
Long-term Investments	856	797
Fair value \| Other
Fair value, asset and liability measures
Long-term Investments	$ 41	$ 86

Financial Instruments, Derivatives and Fair Value Measures - Bases of Measurement (Details) - USD ($) shares in Thousands, $ in Millions	1 Months Ended	12 Months Ended
	Apr. 30, 2015	Dec. 31, 2017	Dec. 31, 2018
Fair value, asset and liability measures
Fair Value - Assets		$ 138	$ 114
Fair Value - Liabilities		298	195
Maximum
Fair value, asset and liability measures
Contingent consideration related to business combinations			480
Recurring
Fair value, asset and liability measures
Trading Securities, Equity		374	320
Total Assets		512	434
Fair value of hedged long-term debt		3,898	2,743
Interest rate swap financial instruments, liabilities		93	100
Contingent consideration related to business combinations		120	71
Total Liabilities		4,316	3,009
Recurring \| Foreign currency exchange contracts
Fair value, asset and liability measures
Fair Value - Assets		138	114
Fair Value - Liabilities		205	95
Recurring \| Quoted Prices in Active Markets
Fair value, asset and liability measures
Trading Securities, Equity		374	320
Total Assets		374	320
Recurring \| Significant Other Observable Inputs
Fair value, asset and liability measures
Total Assets		138	114
Fair value of hedged long-term debt		3,898	2,743
Interest rate swap financial instruments, liabilities		93	100
Total Liabilities		4,196	2,938
Recurring \| Significant Other Observable Inputs \| Foreign currency exchange contracts
Fair value, asset and liability measures
Fair Value - Assets		138	114
Fair Value - Liabilities		205	95
Recurring \| Significant Unobservable Inputs
Fair value, asset and liability measures
Contingent consideration related to business combinations		120	71
Total Liabilities		$ 120	$ 71
Equity securities \| Mylan N.V. (Investee)
Fair value, asset and liability measures
Number of shares in investment sold	40,250	69,750

Litigation and Environmental Matters (Details) $ in Millions	Dec. 31, 2018 USD ($)
Loss Contingencies
Maximum expected cleanup exposure for individual site	$ 4
Maximum expected cleanup exposure in aggregate	10
Legal proceedings and environmental exposures
Loss Contingencies
Recorded accrual balance for legal proceedings and exposures	145
Legal proceedings and environmental exposures \| Minimum
Loss Contingencies
Estimation of possible loss	125
Legal proceedings and environmental exposures \| Maximum
Loss Contingencies
Estimation of possible loss	$ 165

Post-Employment Benefits - Benefit Obligation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Plan assets at fair value:
Plan assets at fair value, balance at the beginning of the year	$ 9,717
Plan assets at fair value, balance at the end of the year	8,904	$ 9,717
Projected benefit obligations greater than plan assets
Long-term liabilities	(2,040)	(2,169)
Amounts Recognized in Accumulated Other Comprehensive Income (loss):
Projected benefit obligations	2,700	3,000
Accumulated benefit obligations	8,300	8,900
The aggregate accumulated benefit obligations, the projected benefit obligations and the aggregate plan assets
Accumulated benefit obligation	1,265	1,664
Projected benefit obligation	1,362	1,892
Fair value of plan assets	375	696
Defined Benefit Plans
Projected benefit obligations:
Projected benefit obligations, balance at the beginning of the year	9,953	8,517
Service cost - benefits earned during the year	293	283	$ 263
Interest cost on projected benefit obligations	308	287	288
(Gains) losses, primarily changes in discount rates, plan design changes, law changes and differences between actual and estimated health care costs	(1,044)	752
Benefits paid	(295)	(276)
Other, including foreign currency translation	(122)	390
Projected benefit obligations, balance at the end of the year	9,093	9,953	8,517
Plan assets at fair value:
Plan assets at fair value, balance at the beginning of the year	9,298	7,542
Actual return (loss) on plans' assets	(450)	1,107
Company contributions	114	645
Benefits paid	(295)	(276)
Other, including foreign currency translation	(114)	280
Plan assets at fair value, balance at the end of the year	8,553	9,298	7,542
Projected benefit obligations greater than plan assets
Projected benefit obligations greater than plan assets, December 31	(540)	(655)
Long-term assets	583	563
Short-term liabilities	(23)	(21)
Long-term liabilities	(1,100)	(1,197)
Net liability	(540)	(655)
Amounts Recognized in Accumulated Other Comprehensive Income (loss):
Actuarial losses, net	3,326	3,466
Prior service cost (credits)	(2)	(9)
Total	3,324	3,457
Medical and Dental Plans
Projected benefit obligations:
Projected benefit obligations, balance at the beginning of the year	1,393	1,274
Service cost - benefits earned during the year	26	25	26
Interest cost on projected benefit obligations	48	45	43
(Gains) losses, primarily changes in discount rates, plan design changes, law changes and differences between actual and estimated health care costs	(106)	149
Benefits paid	(68)	(80)
Other, including foreign currency translation	(1)	(20)
Projected benefit obligations, balance at the end of the year	1,292	1,393	1,274
Plan assets at fair value:
Plan assets at fair value, balance at the beginning of the year	419	416
Actual return (loss) on plans' assets	(20)	65
Company contributions	12	12
Benefits paid	(60)	(74)
Plan assets at fair value, balance at the end of the year	351	419	$ 416
Projected benefit obligations greater than plan assets
Projected benefit obligations greater than plan assets, December 31	(941)	(974)
Short-term liabilities	(1)	(2)
Long-term liabilities	(940)	(972)
Net liability	(941)	(974)
Amounts Recognized in Accumulated Other Comprehensive Income (loss):
Actuarial losses, net	361	456
Prior service cost (credits)	(163)	(208)
Total	$ 198	$ 248

Post-Employment Benefits - Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plans
Defined benefit plan net periodic benefit cost
Service cost - benefits earned during the year	$ 293	$ 283	$ 263
Interest cost on projected benefit obligations	308	287	288
Expected return on plans' assets	(680)	(613)	(565)
Amortization of actuarial losses	205	163	129
Amortization of prior service cost (credits)	1	1
Total cost	127	121	115
Net actuarial losses (gains), net of any prior service credits	86	247	571
Pretax amount included in accumulated other comprehensive income (loss), expected to be recognized in the net period benefit cost in 2017
Pretax amount of actuarial losses expected to recognized in the net periodic benefit cost in 2019	(130)
Pretax amount of prior service cost (credits) expected to recognized in the net periodic benefit cost in 2019	1
Medical and Dental Plans
Defined benefit plan net periodic benefit cost
Service cost - benefits earned during the year	26	25	26
Interest cost on projected benefit obligations	48	45	43
Expected return on plans' assets	(33)	(33)	(35)
Amortization of actuarial losses	33	23	16
Amortization of prior service cost (credits)	(45)	(45)	(45)
Total cost	29	15	5
Net actuarial losses (gains), net of any prior service credits	(53)	97	$ 20
Pretax amount included in accumulated other comprehensive income (loss), expected to be recognized in the net period benefit cost in 2017
Pretax amount of actuarial losses expected to recognized in the net periodic benefit cost in 2019	24
Pretax amount of prior service cost (credits) expected to recognized in the net periodic benefit cost in 2019	$ 32
AMO
Defined benefit plan net periodic benefit cost
Curtailment gain related to sale of AMO		$ 10

Post-Employment Benefits - Assumptions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
A one percentage point increase / (decrease) in the assumed health care cost
Increase in accumulated post employment benefit obligations due to a one percentage point increase in the assumed health care cost	$ 157
Decrease in accumulated post employment benefit obligations due to a one percentage point decrease in the assumed health care cost	(131)
Increase in the total of service and interest cost components of net post employment health care cost due to a one percentage point increase in the assumed health care cost	12
Decrease in the total of service and interest cost components of net post employment health care cost due to a one percentage point decrease in the assumed health care cost	$ (10)
Defined benefit plans and medical and dental plans
Weighted average assumptions used to determine benefit obligations
Discount rate (as a percent)	4.00%	3.40%	3.90%
Expected aggregate average long-term change in compensation (as a percent)	4.30%	4.40%	4.30%
Weighted average assumptions used to determine the net cost
Discount rate (as a percent)	3.40%	3.90%	4.30%
Expected return on plan assets (as a percent)	7.70%	7.60%	7.60%
Expected aggregate average long-term change in compensation (as a percent)	4.40%	4.30%	4.30%
Medical and Dental Plans
Assumed health care cost trend rates
Health care cost trend rate assumed for the next year (as a percent)	9.00%	9.00%	8.00%
Rate that the cost trend rate gradually declines to (as a percent)	5.00%	5.00%	5.00%
Year that rate reaches the assumed ultimate rate	2025	2027	2027

Post-Employment Benefits - Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	$ 8,904	$ 9,717
Unfunded commitments	518	489
U.S. large cap
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	2,168	2,506
U.S. mid and small cap
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	515	670
International
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	1,671	1,937
U.S. government securities
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	476	510
Corporate debt instruments
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	1,150	930
Non U.S. government securities
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	405	625
Other,
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	199	216
Absolute return funds
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	1,684	1,814
Commodities
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	59	60
Cash and Cash Equivalents
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	192	178
Other.
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	385	271
Quoted Prices in Active Markets
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	2,837	2,878
Quoted Prices in Active Markets \| U.S. large cap
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	1,319	1,600
Quoted Prices in Active Markets \| U.S. mid and small cap
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	226	243
Quoted Prices in Active Markets \| International
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	370	448
Quoted Prices in Active Markets \| U.S. government securities
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	51	11
Quoted Prices in Active Markets \| Corporate debt instruments
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	269	107
Quoted Prices in Active Markets \| Non U.S. government securities
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	5	222
Quoted Prices in Active Markets \| Other,
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	15	93
Quoted Prices in Active Markets \| Absolute return funds
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	448	135
Quoted Prices in Active Markets \| Cash and Cash Equivalents
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	123	12
Quoted Prices in Active Markets \| Other.
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	11	7
Significant Other Observable Inputs
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	1,030	724
Significant Other Observable Inputs \| U.S. large cap
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	5
Significant Other Observable Inputs \| U.S. government securities
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	269	286
Significant Other Observable Inputs \| Corporate debt instruments
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	701	411
Significant Other Observable Inputs \| Other,
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	55	27
Significant Unobservable Inputs
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	4	4
Significant Unobservable Inputs \| Commodities
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	4	4
Measured at NAV
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	5,033	6,111
Measured at NAV \| U.S. large cap
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	844	906
Measured at NAV \| U.S. mid and small cap
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	289	427
Measured at NAV \| International
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	1,301	1,489
Measured at NAV \| U.S. government securities
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	156	213
Measured at NAV \| Corporate debt instruments
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	180	412
Measured at NAV \| Non U.S. government securities
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	400	403
Measured at NAV \| Other,
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	129	96
Measured at NAV \| Absolute return funds
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	1,236	1,679
Measured at NAV \| Commodities
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	55	56
Measured at NAV \| Cash and Cash Equivalents
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	69	166
Measured at NAV \| Other.
Defined benefit plans disclosures
Defined benefit plans' assets at fair value	$ 374	$ 264
Equities \| Minimum
Defined benefit plans disclosures
Redemption notice period	7 days
Equities \| Maximum
Defined benefit plans disclosures
Redemption notice period	30 days
Fixed Income Securities
Defined benefit plans disclosures
Maximum amount of fund with redemption limit to 25%	$ 100
Maximum redemption fund percentage	25.00%
Fixed Income Securities \| Minimum
Defined benefit plans disclosures
Redemption notice period	2 days
Fixed Income Securities \| Maximum
Defined benefit plans disclosures
Redemption notice period	14 days
Absolute return funds and commodity \| Minimum
Defined benefit plans disclosures
Redemption notice period	5 days
Absolute return funds and commodity \| Maximum
Defined benefit plans disclosures
Redemption notice period	45 days

Post-Employment Benefits - Funding and Payments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Total benefit payments expected to be paid to participants
Contribution to Abbott Stock Retirement Plan, defined contribution plan	$ 146	$ 79	$ 83
Defined Benefit Plans
Defined benefit plans disclosures
Company contributions	114	645
Defined benefit plan, expected contributions in future	380
Total benefit payments expected to be paid to participants
2019	306
2020	317
2021	333
2022	351
2023	369
2024 to 2028	2,160
Medical and Dental Plans
Defined benefit plans disclosures
Company contributions	12	$ 12
Total benefit payments expected to be paid to participants
2019	74
2020	77
2021	78
2022	79
2023	80
2024 to 2028	$ 418

Taxes on Earnings from Continuing Operations (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended			15 Months Ended
	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2018
Taxes on Earnings
U.S. Federal corporate tax rate (as a percent)		21.00%	35.00%	35.00%
Net tax expense for the impact of Tax cuts and jobs act	$ 1,460	$ 130			$ 1,590
Provisional transition tax	2,890	120			3,010
Net expense (benefit) on remeasurement of deferred tax assets and liabilities	(1,420)	10
Net benefit from Tax cuts and jobs act, Other impacts	$ 10
Transition tax obligation		$ 1,580			$ 1,580
Transition tax obligation payment period		8 years
Tax expense related to settlement of tax positions		$ 98		$ (225)
AMO \| Dispositions held for sale
Taxes on Earnings
Tax expense (benefit) on gain or loss on sale of business			$ 435

Taxes on Earnings from Continuing Operations - Earnings and Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Earnings From Continuing Operations Before Taxes:
Domestic	$ (430)	$ 308	$ 306
Foreign	3,303	1,923	1,107
Earnings from Continuing Operations Before Taxes	2,873	2,231	1,413
Current:
Domestic, current tax	(812)	2,260	71
Foreign, current tax	606	508	406
Total current taxes	(206)	2,768	477
Deferred:
Domestic, deferred tax	832	(679)	(147)
Foreign, deferred tax	(87)	(211)	20
Total deferred taxes	745	(890)	(127)
Total	$ 539	$ 1,878	$ 350

Taxes on Earnings from Continuing Operations - Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Differences between the effective income tax rate and the U.S. statutory tax rate:
Statutory tax rate on earnings from continuing operations (as a percent)	21.00%	35.00%	35.00%
Impact of foreign operations (as a percent)	(5.40%)	(16.30%)	(17.80%)
Impact of TCJA and other related items (as a percent)	6.30%	65.50%
Foreign-derived intangible income benefit (as a percent)	(1.90%)
Domestic impairment loss (as a percent)	(2.10%)
Excess tax benefits related to stock compensation (as a percent)	(3.10%)	(5.40%)
Research tax credit (as a percent)	(1.80%)	(1.90%)	(1.80%)
Resolution of certain tax positions pertaining to prior years (as a percent)	3.40%		(16.10%)
Mylan share adjustment (as a percent)			25.50%
State taxes, net of federal benefit (as a percent)	0.40%	0.50%	(1.30%)
Federal tax cost on sale of Mylan N.V. shares (as a percent)		3.40%
All other, net (as a percent)	2.00%	3.40%	1.30%
Effective tax rate on earnings from continuing operations (as a percent)	18.80%	84.20%	24.80%

Taxes on Earnings from Continuing Operations - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Deferred tax assets:
Compensation and employee benefits	$ 829	$ 881
Other, primarily reserves not currently deductible, and NOL's and credit carryforwards	2,546	2,857
Trade receivable reserves	196	185
Inventory reserves	97	152
Deferred intercompany profit	203	249
Total deferred tax assets before valuation allowance	3,871	4,324
Valuation allowance	(1,363)	(1,355)
Total deferred tax assets	2,508	2,969
Deferred tax liabilities:
Depreciation	(226)	(200)
Other, primarily the excess of book basis over tax basis of intangible assets	(3,557)	(3,385)
Total deferred tax liabilities	3,783	3,585
Total net deferred tax assets (liabilities)	$ (1,275)	$ (616)

Taxes on Earnings from Continuing Operations - Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Reconciliation of Unrecognized Tax Benefits
Balance at the beginning of the period	$ 1,440	$ 972
Decrease in tax positions due to acquisitions	(13)
Increase in tax positions due to acquisitions		479
Increase (decrease) in tax positions due to acquisitions		479
Increase due to current year tax positions	164	187
Increase due to prior year tax positions	235	76
Decrease due to prior year tax positions	(611)	(176)
Settlements	(91)	(57)
Lapse of statute	(4)	(41)
Balance at the end of the period	1,120	$ 1,440
Unrecognized tax benefits that would impact effective tax rate	1,020
Minimum
Reconciliation of Unrecognized Tax Benefits
Decrease reasonably possible in gross unrecognized tax benefits	125
Maximum
Reconciliation of Unrecognized Tax Benefits
Decrease reasonably possible in gross unrecognized tax benefits	$ 350

Segment and Geographic Area Information - Sales and Earnings (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Information
Net Sales to External Customers	$ 7,765	$ 7,656	$ 7,767	$ 7,390	$ 7,589	$ 6,829	$ 6,637	$ 6,335	$ 30,578	$ 27,390	$ 20,853
Operating Earnings									3,650	1,564	3,026
Established Pharmaceutical Products
Segment Information
Net Sales to External Customers									4,422	4,287
Nutritional Products
Segment Information
Net Sales to External Customers									7,229	6,925
Diagnostic Products
Segment Information
Net Sales to External Customers									7,495	5,616
Cardiovascular and Neuromodulation Products
Segment Information
Net Sales to External Customers									9,437	8,911
Other
Segment Information
Net Sales to External Customers									1,995	1,651	2,386
Total Reportable Segments
Segment Information
Net Sales to External Customers									28,583	25,739	18,467
Operating Earnings									7,404	6,625	4,614
Total Reportable Segments \| Established Pharmaceutical Products
Segment Information
Net Sales to External Customers									4,422	4,287	3,859
Operating Earnings									894	848	723
Total Reportable Segments \| Nutritional Products
Segment Information
Net Sales to External Customers									7,229	6,925	6,899
Operating Earnings									1,652	1,589	1,660
Total Reportable Segments \| Diagnostic Products
Segment Information
Net Sales to External Customers									7,495	5,616	4,813
Operating Earnings									1,868	1,468	1,194
Total Reportable Segments \| Cardiovascular and Neuromodulation Products
Segment Information
Net Sales to External Customers									9,437	8,911	2,896
Operating Earnings									$ 2,990	$ 2,720	$ 1,037

Segment and Geographic Area Information - Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Information
Operating Earnings	$ 3,650	$ 1,564	$ 3,026
Loss on extinguishment of debt	(167)
Amortization of intangible assets	(2,178)	(1,975)	(550)
Earnings from Continuing Operations Before Taxes	2,873	2,231	1,413
Mylan equity investment adjustment			947
Foreign currency exchange loss			480
Venezuela
Segment Information
Foreign currency exchange loss			480
Total Reportable Segments
Segment Information
Operating Earnings	7,404	6,625	4,614
Corporate functions
Segment Information
Corporate functions and benefit plans costs	(618)	(506)	(411)
Reconciling items
Segment Information
Non-reportable segments	510	306	304
Net interest expense	(721)	(780)	(332)
Loss on extinguishment of debt	(167)
Share-based compensation	(477)	(406)	(310)
Amortization of intangible assets	(2,178)	(1,975)	(550)
Other, net (b)	(880)	(1,033)	(1,902)
Mylan equity investment adjustment			947
Charges for restructuring actions and other cost reduction initiatives	$ 153	$ 384	167
Reconciling items \| Venezuela
Segment Information
Foreign currency exchange loss			$ 480

Segment and Geographic Area Information - Depreciation and Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Information
Depreciation	$ 1,100	$ 1,046	$ 803
Additions to Property, Plant and Equipment (c)	1,394	1,135	1,121
Total Assets	67,173	76,250	52,666
Segment assets:
Total Assets	67,173	76,250	52,666
Other
Segment Information
Depreciation	213	194	236
Additions to Property, Plant and Equipment (c)	385	227	370
Non-reportable segment
Segment Information
Total Assets	991	740	1,280
Segment assets:
Total Assets	991	740	1,280
Total Reportable Segments
Segment Information
Depreciation	887	852	567
Additions to Property, Plant and Equipment (c)	1,009	908	751
Total Assets	15,109	15,188	10,045
Segment assets:
Total Assets	15,109	15,188	10,045
Total Reportable Segments \| Established Pharmaceutical Products
Segment Information
Depreciation	92	90	71
Additions to Property, Plant and Equipment (c)	131	181	150
Total Assets	2,664	2,728	2,486
Segment assets:
Total Assets	2,664	2,728	2,486
Total Reportable Segments \| Nutritional Products
Segment Information
Depreciation	150	164	160
Additions to Property, Plant and Equipment (c)	86	147	199
Total Assets	3,071	3,160	3,189
Segment assets:
Total Assets	3,071	3,160	3,189
Total Reportable Segments \| Diagnostic Products
Segment Information
Depreciation	397	300	267
Additions to Property, Plant and Equipment (c)	609	374	379
Total Assets	4,464	4,226	2,945
Segment assets:
Total Assets	4,464	4,226	2,945
Total Reportable Segments \| Cardiovascular and Neuromodulation Products
Segment Information
Depreciation	248	298	69
Additions to Property, Plant and Equipment (c)	183	206	23
Total Assets	4,910	5,074	1,425
Segment assets:
Total Assets	4,910	5,074	1,425
Reconciling items
Segment assets:
Cash and investments	4,983	10,493	21,722
Goodwill and intangible assets	42,196	45,493	12,222
All other	$ 3,894	$ 4,336	$ 7,397

Segment and Geographic Area Information - Geographic Information (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Information
Net Sales to External Customers	$ 7,765	$ 7,656	$ 7,767	$ 7,390	$ 7,589	$ 6,829	$ 6,637	$ 6,335	$ 30,578	$ 27,390	$ 20,853
Long-lived assets	8,700				8,900				8,700	8,900
United States
Segment Information
Net Sales to External Customers									10,839	9,673	6,486
Long-lived assets	$ 4,300				$ 4,500				4,300	4,500
China
Segment Information
Net Sales to External Customers									2,311	2,146	1,728
Germany
Segment Information
Net Sales to External Customers									1,619	1,366	1,044
India
Segment Information
Net Sales to External Customers									1,333	1,237	1,114
Japan
Segment Information
Net Sales to External Customers									1,326	1,255	924
Switzerland
Segment Information
Net Sales to External Customers									1,005	841	766
The Netherlands
Segment Information
Net Sales to External Customers									930	929	830
All Other Countries
Segment Information
Net Sales to External Customers									$ 11,215	$ 9,943	$ 7,961

Quarterly Results (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Net Sales	$ 7,765	$ 7,656	$ 7,767	$ 7,390	$ 7,589	$ 6,829	$ 6,637	$ 6,335	$ 30,578	$ 27,390	$ 20,853
Gross Profit	4,086	3,946	3,923	3,739	3,747	3,452	3,056	2,751
Earnings (Loss) from Continuing Operations	$ 655	$ 552	$ 718	$ 409	$ (864)	$ 561	$ 270	$ 386	$ 2,334	$ 353	$ 1,063
Basic Earnings (Loss) per Common Share	$ 0.37	$ 0.31	$ 0.41	$ 0.23	$ (0.50)	$ 0.32	$ 0.15	$ 0.22	$ 1.32	$ 0.20	$ 0.71
Diluted Earnings (Loss) per Common Share	$ 0.37	$ 0.31	$ 0.40	$ 0.23	$ (0.50)	$ 0.32	$ 0.15	$ 0.22	$ 1.31	$ 0.20	$ 0.71
Net Earnings (Loss)	$ 654	$ 563	$ 733	$ 418	$ (828)	$ 603	$ 283	$ 419	$ 2,368	$ 477	$ 1,400
Basic Earnings (Loss) Per Common Share (in dollars per share)	$ 0.37	$ 0.32	$ 0.42	$ 0.24	$ (0.48)	$ 0.34	$ 0.16	$ 0.24	$ 1.34	$ 0.27	$ 0.94
Diluted Earnings (Loss) Per Common Share (in dollars per share)	0.37	0.32	0.41	0.23	(0.48)	0.34	0.16	0.24	$ 1.33	$ 0.27	$ 0.94
Maximum
Market Price Per Share	74.92	73.58	63.85	64.60	57.77	54.80	49.59	45.84
Minimum
Market Price Per Share	$ 65.44	$ 60.32	$ 56.81	$ 55.58	$ 53.20	$ 47.83	$ 42.31	$ 38.34

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS (Details) - Allowances for Doubtful Accounts and Product Returns - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Allowances for Doubtful Accounts and Product Returns
Balance at Beginning of Year	$ 294	$ 250	$ 337
Provisions/Charges to Income	110	105	92
Amounts Charged Off and Other Deductions	(90)	(61)	(179)
Balance at End of Year	$ 314	$ 294	$ 250

Summary of Significant Accounting Policies - Cash, Cash Equivalents And Investments (Details) $ in Millions	Dec. 31, 2018 USD ($)
CASH, CASH EQUIVALENTS AND INVESTMENTS
Equity method investments carrying value	$ 325