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Summary of Significant Accounting Policies (Tables) | 3 Months Ended
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Mar. 31, 2018
Accounting Policies [Abstract] |
Effects of Adopting ASC 606 | The impact of adopting the above standards is as follows:
($ in millions) | ASU 2014-09 (Revenue) |  | ASU 2016-01 (Financial Instruments) |  | ASU 2016-16 (Intra-Entity Transfers of Assets Other than Inventory) |  | ASU 2017-12 (Derivatives and Hedging) |  | ASU 2018-02 (Reclassification of Certain Tax Effects) |  | Total
Assets - Debit (Credit) |  |  |  |  |  |  |  |  |  |  |
Accounts receivable | $ | 5 |  |  |  |  |  |  |  |  |  |  | $ | 5 |
Liabilities - Credit (Debit) |  |  |  |  |  |  |  |  |  |  |  |
Income Taxes Payable |  |  |  |  |  |  | (3 | ) |  |  |  | (3 | )
Debt |  |  |  |  |  |  | 14 |  |  |  |  | 14 |
Deferred Income Taxes |  |  |  |  | (54 | ) |  |  |  |  |  | (54 | )
Equity - Credit (Debit) |  |  |  |  |  |  |  |  |  |  |
Retained earnings | 5 |  |  | 8 |  |  | 54 |  |  | (11 | ) |  | 266 |  |  | 322 |
Accumulated other comprehensive loss |  |  | (8 | ) |  |  |  |  |  | (266 | ) |  | (274 | )
The following table provides the effects of adopting ASC 606 on the Consolidated Statement of Income in the first quarter of 2018:
| Three Months Ended March 31, 2018
($ in millions) | As Reported |  | Effects of Adopting ASC 606 |  | Amounts Without Adoption of ASC 606
Sales | $ | 10,037 |  |  | $ | (24 | ) |  | $ | 10,013 |
Materials and production | 3,184 |  |  | (11 | ) |  | 3,173 |
Income before taxes | 1,345 |  |  | (13 | ) |  | 1,332 |
Taxes on income | 604 |  |  | (2 | ) |  | 602 |
Net income attributable to Merck & Co., Inc. | 736 |  |  | (11 | ) |  | 725 |
The following table provides the effects of adopting ASC 606 on the consolidated balance sheet as of March 31, 2018:
| March 31, 2018
($ in millions) | As Reported |  | Effects of Adopting ASC 606 |  | Amounts Without Adoption of ASC 606
Assets |  |  |  |  |
Accounts receivable | $ | 7,245 |  |  | $ | (36 | ) |  | $ | 7,209 |
Inventories | 5,382 |  |  | 13 |  |  | 5,395 |
Liabilities |  |  |  |  |  |
Accrued and other current liabilities | 9,709 |  |  | (3 | ) |  | 9,706 |
Income taxes payable | 717 |  |  | (4 | ) |  | 713 |
Equity |  |  |  |  |  |
Retained earnings | 41,107 |  |  | (16 | ) |  | 41,091 |

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- Definition Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22580-107794 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=68064558&loc=d3e765-108305 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22499-107794 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.10-01.(b)(6)) -URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22583-107794 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=68064558&loc=d3e725-108305 + Details
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