v3.20.4
Consolidated Statements of Equity - USD ($)
$ in Millions
Total
Cumulative Effect, Period of Adoption, Adjusted Balance [Member]
Shareholders’ Equity [Member]
Shareholders’ Equity [Member]
Cumulative Effect, Period of Adoption, Adjusted Balance [Member]
Preferred Stock [Member]
Common Stock [Member]
Add’l Paid-In Capital [Member]
Treasury Stock [Member]
Retained Earnings [Member]
Accum. Other Comp. Loss [Member]
Accum. Other Comp. Loss [Member]
Cumulative Effect, Period of Adoption, Adjusted Balance [Member]
Non-controlling Interests [Member]
Non-controlling Interests [Member]
Cumulative Effect, Period of Adoption, Adjusted Balance [Member]
Beginning balance (in shares) at Dec. 31, 2017         524 9,275,000,000   3,296,000,000          
Beginning balance at Dec. 31, 2017 $ 71,656   $ 71,308   $ 21 $ 464 $ 84,278 $ (89,425) $ 85,291 $ (9,321)   $ 348  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                          
Net income 11,188   11,153           11,153     36  
Other comprehensive income/(loss), net of tax (1,975) $ (1,975)   $ (1,955)           (1,041) [1] $ (1,955)   $ (20)
Cash dividends declared:                          
Common stock (8,060)   (8,060)           (8,060)        
Preferred stock (1)   (1)           (1)        
Noncontrolling interests (12)                     (12)  
Share-based payment transactions (in shares)           57,000,000   12,000,000          
Share-based payment transactions $ 1,993   1,993     $ 3 1,977 $ 13          
Purchases of common stock (in shares) (307,000,000) [2]             (307,000,000)          
Purchases of common stock $ (12,198) [2]   (12,198)         $ (12,198)          
Preferred stock conversions and redemptions (in shares)         (46)                
Preferred stock conversions and redemptions (4)   (4)   $ (2)   (3)            
Other [3] 1,172   1,172           1,172        
Ending balance (in shares) at Dec. 31, 2018         478 9,332,000,000   3,615,000,000          
Ending balance at Dec. 31, 2018 63,758   63,407   $ 19 $ 467 86,253 $ (101,610) 89,554 (11,275)   351  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                          
Net income 16,302   16,273           16,273     29  
Other comprehensive income/(loss), net of tax (376)   (365)             (365) [1]   (11)  
Cash dividends declared:                          
Common stock (8,174)   (8,174)           (8,174)        
Preferred stock (1)   (1)           (1)        
Noncontrolling interests (6)                     (6)  
Share-based payment transactions (in shares)           37,000,000   8,000,000          
Share-based payment transactions $ 894   894     $ 2 1,219 $ (326)          
Purchases of common stock (in shares) (213,000,000) [4]             (213,000,000)          
Purchases of common stock $ (8,865) [4]   (8,865)         $ (8,865)          
Preferred stock conversions and redemptions (in shares)         (47)                
Preferred stock conversions and redemptions (4)   (4)   $ (2)   (3) $ 1          
Other (81)   (21)       (40)   19     (60)  
Ending balance (in shares) at Dec. 31, 2019         431 9,369,000,000   3,835,000,000          
Ending balance at Dec. 31, 2019 63,447   63,143   $ 17 $ 468 87,428 $ (110,801) 97,670 (11,640)   303  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                          
Net income 9,652   9,616           9,616     36  
Other comprehensive income/(loss), net of tax 14   23             23 [1]   (9)  
Cash dividends declared:                          
Common stock (8,571)   (8,571)           (8,571)        
Noncontrolling interests (91)                     (91)  
Share-based payment transactions (in shares)           37,000,000   6,000,000          
Share-based payment transactions $ 1,044   1,044     $ 2 1,261 $ (218)          
Purchases of common stock (in shares) 0                        
Purchases of common stock $ 0                        
Preferred stock conversions and redemptions (in shares) [5]         (431)     1,000,000          
Preferred stock conversions and redemptions [5] (1)   (1)   $ (17)   (15) $ 31          
Distribution of Upjohn business [6] (2,018)   (2,015)           (1,944) (71) [7]   (3)  
Other (1)                     (1)  
Ending balance (in shares) at Dec. 31, 2020         0 9,407,000,000   3,840,000,000          
Ending balance at Dec. 31, 2020 $ 63,473   $ 63,238   $ 0 $ 470 $ 88,674 $ (110,988) $ 96,770 $ (11,688)   $ 235  
[1] Amounts do not include foreign currency translation adjustments attributable to noncontrolling interests of $9 million loss in 2020, $11 million loss in 2019 and $20 million loss in 2018. Foreign currency translation adjustments in 2020 primarily include gains from the strengthening of the euro, Japanese yen, Australian dollar and U.K. pound against the U.S. dollar, and net gains related to foreign currency translation adjustments related to our equity method investment in the Consumer Healthcare JV (see Note 2C), partially offset by the impact of our net investment hedging program. Foreign currency translation adjustments in 2019 primarily include a gain of approximately $1.3 billion pre-tax ($978 million after-tax) related to foreign currency translation adjustments attributable to our equity method investment in the Consumer Healthcare JV (see Note 2C), partially offset by the strengthening of the U.S. dollar against the euro and the Australian dollar, and the results of our net investment hedging program. Amounts in 2018 primarily reflect the strengthening of the U.S. dollar against the euro, U.K. pound and Chinese renminbi.
[2] Represents shares purchased pursuant to the ASR with Citibank entered into in March 2018, as well as open market share repurchases of $8.2 billion
[3] Primarily represents the cumulative effect of the adoption of new accounting standards in 2018 for revenues, financial assets and liabilities, income tax accounting, and the reclassification of certain tax effects. See Note 1B in our 2018 Financial Report.
[4] Represents shares purchased pursuant to the ASR with Goldman Sachs & Co. LLC entered into in February 2019, as well as open market share repurchases of $2.1 billion
[5] See Note 12.
[6] See Note 2B.
[7] For more information, see Note 2B.