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RESTRUCTURING | 6 Months Ended
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Jun. 30, 2023
Restructuring Charges [Abstract] |
Restructuring | RESTRUCTURING 2023 Restructuring Plan In 2023, BMS commenced a restructuring plan to accelerate the delivery of medicines to patients by evolving and streamlining its enterprise operating model in key areas, such as R&D, manufacturing, commercial and other functions, to ensure its operating model supports and is appropriately aligned with the Company’s strategy to invest in key priorities. These changes primarily include (i) transforming R&D operations to accelerate pipeline delivery (ii) enhancing our commercial operating model, and (iii) establishing a more responsive manufacturing network and expansion of cell therapy manufacturing capabilities. Charges of approximately $1.0 billion are expected to be incurred through 2025, consisting primarily of employee termination costs and to a lesser extent site exit costs, including impairment and accelerated depreciation of property, plant and equipment. Celgene and Other Acquisition Plans Restructuring and integration plans were initiated to realize expected cost synergies resulting from cost savings and avoidance from the acquisition of Celgene (2019), MyoKardia (2020) and Turning Point (2022). As part of these plans, the Company expects to incur charges of approximately $3.8 billion. Cumulative charges of approximately $3.4 billion have been recognized to date including integration planning and execution expenses, employee termination benefit costs and accelerated stock-based compensation, contract termination costs and other shutdown costs associated with site exits. The remaining charges related to the acquisition of Celgene are primarily related to IT system integration which are expected to be incurred through 2024. The following provides the charges related to restructuring initiatives by type of cost:
| Three Months Ended June 30, |  | Six Months Ended June 30,
Dollars in millions | 2023 |  | 2022 |  | 2023 |  | 2022
2023 Restructuring Plan | $ | 170 |  |  | $ | — |  |  | $ | 231 |  |  | $ | — |
Celgene and Other Acquisition Plans | 64 |  |  | 148 |  |  | 138 |  |  | 278 |
Total charges | $ | 234 |  |  | $ | 148 |  |  | $ | 369 |  |  | $ | 278 |
Employee termination costs | $ | 109 |  |  | $ | 19 |  |  | $ | 174 |  |  | $ | 41 |
Other termination costs | 4 |  |  | 1 |  |  | 6 |  |  | 2 |
Provision for restructuring | 113 |  |  | 20 |  |  | 180 |  |  | 43 |
Integration expenses | 59 |  |  | 124 |  |  | 126 |  |  | 229 |
Accelerated depreciation | 12 |  |  | 4 |  |  | 13 |  |  | 6 |
Asset impairments | 50 |  |  | — |  |  | 50 |  |  | — |
Other shutdown costs | — |  |  | — |  |  | — |  |  | — |
Total charges | $ | 234 |  |  | $ | 148 |  |  | $ | 369 |  |  | $ | 278 |
Cost of products sold | $ | 36 |  |  | $ | — |  |  | $ | 37 |  |  | $ | — |
Marketing, selling and administrative | 20 |  |  | 4 |  |  | 20 |  |  | 6 |
Research and Development | 6 |  |  | — |  |  | 6 |  |  | — |
Other (income)/expense, net | 172 |  |  | 144 |  |  | 306 |  |  | 272 |
Total charges | $ | 234 |  |  | $ | 148 |  |  | $ | 369 |  |  | $ | 278 |
The following summarizes the charges and spending related to restructuring plan activities:
| Six Months Ended June 30,
Dollars in millions | 2023 |  | 2022
Beginning balance | $ | 47 |  |  | $ | 101 |
Provision for restructuring(a) | 180 |  |  | 43 |
Foreign currency translation and other | 1 |  |  | (6) |
Payments | (48) |  |  | (67) |
Ending balance | $ | 180 |  |  | $ | 71 |
(a) Includes a reduction of the liability resulting from changes in estimates of $4 million and $8 million for the six months ended June 30, 2023 and 2022, respectively.

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//420/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479823/420-10-S99-2 + Details
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