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Income Taxes | 9 Months Ended
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Sep. 29, 2013
Income Tax Disclosure [Abstract] |
INCOME TAXES | INCOME TAXES The worldwide effective income tax rates for the fiscal nine months of 2013 and 2012 were 18.9% and 25.6%, respectively. The R&D tax credit and the CFC look-through provisions were enacted into law in January 2013 and were retroactive to January 1, 2012. The entire 2012 R&D tax credit and the CFC look-through provisions and the quarterly impact of the 2013 R&D tax credit and the CFC look-through provisions are reflected in the 2013 fiscal nine months financial results which decreased the 2013 tax rate by 1.5 points. Additionally, taxable income increased in lower tax jurisdictions relative to higher tax jurisdictions. The higher effective tax rate in 2012 was also due to lower tax rates associated with the deductions for Synthes integration and transaction costs, litigation accruals and the add back of the net loss attributable to noncontrolling interest, which added approximately 4.0 points to the tax rate. During the fiscal third quarter of 2013, the Company reached a settlement agreement related to certain issues regarding the Internal Revenue Service audit related to tax years 2006-2009. As a result of this settlement, the Company adjusted the reserves relating to these matters which lowered tax expense for the fiscal third quarter and fiscal nine months. Also included in the fiscal third quarter and fiscal nine month results were incremental tax expense associated with the establishment of a valuation allowance on the Company's foreign deferred tax assets and additional U.S. tax expense related to increased dividends of foreign earnings. The above items had no net impact on the effective income tax rate for the fiscal nine months of 2013. As of September 29, 2013, the Company had approximately $2.4 billion of liabilities from unrecognized tax benefits which reflects the settlement agreement described above. The Company believes it is possible that audits may be completed by tax authorities in some jurisdictions over the next twelve months. The Company is not able to provide a reasonably reliable estimate of the timing of any other future tax payments relating to uncertain tax positions.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 + Details
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