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QUARTERLY FINANCIAL RESULTS AND MARKET FOR THE COMPANY'S STOCK (UNAUDITED) | 12 Months Ended
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Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract] |
QUARTERLY FINANCIAL RESULTS AND MARKET FOR THE COMPANY'S STOCK (UNAUDITED) | NOTE 18 QUARTERLY FINANCIAL RESULTS AND MARKET FOR THE COMPANY’S STOCK (UNAUDITED)
years ended December 31 (in millions, except per share data) |  | First quarter |  |  | Second quarter |  |  | Third quarter |  |  | Fourth quarter |  |  | Full year |
2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 2,475 |  |  | $ | 2,605 |  |  | $ | 2,707 |  |  | $ | 2,774 |  |  | $ | 10,561 |
Gross margin1 |  |  | 1,042 |  |  |  | 1,130 |  |  |  | 1,128 |  |  |  | 1,162 |  |  |  | 4,462 |
Income (loss) from continuing operations1 |  |  | 273 |  |  |  | 264 |  |  |  | 248 |  |  |  | (61 | ) |  |  | 724 |
Income (loss) from continuing operations per common share1 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 0.50 |  |  |  | 0.49 |  |  |  | 0.46 |  |  |  | (0.11 | ) |  |  | 1.33 |
Diluted |  |  | 0.50 |  |  |  | 0.48 |  |  |  | 0.45 |  |  |  | (0.11 | ) |  |  | 1.30 |
(Loss) income from discontinued operations, net of tax |  |  | (1 | ) |  |  | 1 |  |  |  | 3 |  |  |  | (10 | ) |  |  | (7 | )
(Loss) income from discontinued operations per common share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 0.00 |  |  |  | 0.00 |  |  |  | 0.00 |  |  |  | (0.02 | ) |  |  | (0.01 | )
Diluted |  |  | (0.01 | ) |  |  | 0.00 |  |  |  | 0.00 |  |  |  | (0.02 | ) |  |  | (0.01 | )
Net income (loss)1 |  |  | 272 |  |  |  | 265 |  |  |  | 251 |  |  |  | (71 | ) |  |  | 717 |
Net income (loss) per common share1 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 0.50 |  |  |  | 0.49 |  |  |  | 0.46 |  |  |  | (0.13 | ) |  |  | 1.32 |
Diluted |  |  | 0.49 |  |  |  | 0.48 |  |  |  | 0.45 |  |  |  | (0.13 | ) |  |  | 1.29 |
Cash dividends declared per common share |  |  | 0.130 |  |  |  | 0.160 |  |  |  | 0.160 |  |  |  | 0.160 |  |  |  | 0.610 |
Market price per common share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
High |  |  | 52.30 |  |  |  | 61.38 |  |  |  | 64.61 |  |  |  | 66.05 |  |  |  | 66.05 |
Low |  |  | 44.44 |  |  |  | 52.29 |  |  |  | 59.50 |  |  |  | 61.45 |  |  |  | 44.44 |
2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 2,375 |  |  | $ | 2,585 |  |  | $ | 2,558 |  |  | $ | 2,645 |  |  | $ | 10,163 |
Gross margin2 |  |  | 965 |  |  |  | 972 |  |  |  | 1,071 |  |  |  | 1,102 |  |  |  | 4,110 |
Income from continuing operations2 |  |  | 3,387 |  |  |  | 1,212 |  |  |  | 127 |  |  |  | 240 |  |  |  | 4,966 |
Income from continuing operations per common share2 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 6.17 |  |  |  | 2.21 |  |  |  | 0.23 |  |  |  | 0.44 |  |  |  | 9.10 |
Diluted |  |  | 6.13 |  |  |  | 2.19 |  |  |  | 0.23 |  |  |  | 0.44 |  |  |  | 9.01 |
(Loss) income from discontinued operations, net of tax |  |  | (7 | ) |  |  | — |  |  |  | 3 |  |  |  | 3 |  |  |  | (1 | )
(Loss) income from discontinued operations per common share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | (0.01 | ) |  |  | 0.00 |  |  |  | 0.01 |  |  |  | 0.01 |  |  |  | (0.01 | )
Diluted |  |  | (0.01 | ) |  |  | 0.00 |  |  |  | 0.01 |  |  |  | 0.00 |  |  |  | 0.00 |
Net income2 |  |  | 3,380 |  |  |  | 1,212 |  |  |  | 130 |  |  |  | 243 |  |  |  | 4,965 |
Net income per common share2 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 6.16 |  |  |  | 2.21 |  |  |  | 0.24 |  |  |  | 0.45 |  |  |  | 9.09 |
Diluted |  |  | 6.12 |  |  |  | 2.19 |  |  |  | 0.24 |  |  |  | 0.44 |  |  |  | 9.01 |
Cash dividends declared per common share |  |  | 0.115 |  |  |  | 0.130 |  |  |  | 0.130 |  |  |  | 0.130 |  |  |  | 0.505 |
Market price per common share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
High |  |  | 41.28 |  |  |  | 46.39 |  |  |  | 49.03 |  |  |  | 49.16 |  |  |  | 49.16 |
Low |  |  | 34.76 |  |  |  | 41.31 |  |  |  | 45.09 |  |  |  | 43.63 |  |  |  | 34.76 |
1 | The first quarter of 2017 included charges of $17 million related to business optimization, separation-related costs and historical rebate and discount adjustments. The second quarter of 2017 included charges of $57 million related to business optimization, separation-related costs, Venezuela deconsolidation costs, Claris acquisition and integration expenses and adjustments to historical product reserves. The third quarter of 2017 included charges of $82 million related to business optimization, separation-related costs, Hurricane Maria costs, Claris acquisition and integration expenses and SIGMA SPECTRUM infusion pump inspection and remediation activities. The fourth quarter of 2017 included charges of $388 million related to business optimization, separation-related costs, Claris acquisition and integration expenses, Hurricane Maria costs, litigation and contractual disputes for business arrangements in which the company is no longer engaged or a party thereto and the impact of tax reform in the United States.
2 | The first quarter of 2016 included benefits of $3.1 billion related to business optimization, separation-related costs, Retained Shares transactions, a loss on debt extinguishment, and product-related items. The second quarter of 2016 included benefits of $1.0 billion related to business optimization, separation-related costs, Retained Shares transactions, and asset impairment. The third quarter of 2016 included charges of $155 million related to business optimization, separation-related costs, a loss on debt extinguishment, and a tax matter. The fourth quarter of 2016 included charges of $47 million related to business optimization, Gambro integration costs, product-related items, separation-related costs, and reserve items and adjustments.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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