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Description

Effective Date

Effect on the financial statements or other significant matters

Accounting Standards Update 2014-09, Revenue from Contracts with Customers

This standard will replace existing revenue recognition standards and will require entities to recognize revenues to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. An entity can apply the new revenue standard retrospectively to each prior reporting period presented or with the cumulative effect of initially applying the standard recognized at the date of initial application in retained earnings.

This standard is effective January 1, 2018, but we are permitted to adopt this standard one year earlier if we choose. We intend to adopt this standard on January 1, 2018.

We are in the process of evaluating the impact of the adoption of the standard, but do not yet have enough information to estimate the anticipated impact on our consolidated financial statements.

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2016	Jul. 18, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q2
Entity Registrant Name	Lilly Eli & Co
Entity Central Index Key	0000059478
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		1,103,843,444

Consolidated Condensed Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenue	$ 5,404.8	$ 4,978.7	$ 10,269.9	$ 9,623.4
Costs, expenses, and other:
Cost of sales	1,465.0	1,218.4	2,788.0	2,411.1
Research and development	1,335.9	1,169.5	2,556.9	2,208.8
Marketing, selling, and administrative	1,622.6	1,635.4	3,096.5	3,158.9
Acquired in-process research and development	0.0	80.0	0.0	336.0
Asset impairment, restructuring, and other special charges	58.0	72.4	189.4	180.4
Other - net, (income) expense	(21.2)	123.3	127.8	30.6
Cost of sales, operating expenses, and other-net	4,460.3	4,299.0	8,758.6	8,325.8
Income before income taxes	944.5	679.7	1,511.3	1,297.6
Income taxes	196.8	78.9	323.5	167.3
Net income	$ 747.7	$ 600.8	$ 1,187.8	$ 1,130.3
Earnings per share:
Basic	$ 0.71	$ 0.57	$ 1.12	$ 1.06
Diluted	$ 0.71	$ 0.56	$ 1.12	$ 1.06
Shares used in calculation of earnings per share:
Basic	1,057.7	1,061.7	1,058.8	1,063.0
Diluted	1,060.1	1,065.6	1,061.0	1,066.3
Dividends paid per share	$ 0.51	$ 0.50	$ 1.02	$ 1.00

Consolidated Condensed Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Net income	$ 747.7	$ 600.8	$ 1,187.8	$ 1,130.3
Other comprehensive income (loss), net of tax	(106.5)	254.3	209.5	(411.4)
Comprehensive income	$ 641.2	$ 855.1	$ 1,397.3	$ 718.9

Consolidated Condensed Balance Sheets - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Current Assets
Cash and cash equivalents	$ 3,238.0	$ 3,666.4
Short-term investments	696.8	785.4
Accounts receivable, net of allowances of $39.3 (2016) and $44.3 (2015)	3,947.9	3,513.0
Other receivables	545.2	558.6
Inventories	3,759.9	3,445.8
Prepaid expenses and other	789.5	604.4
Total current assets	12,977.3	12,573.6
Other Assets
Investments	4,449.2	3,646.6
Goodwill	4,026.5	4,039.9
Other intangibles, net	4,806.3	5,034.8
Sundry	2,149.9	2,220.5
Total other assets	15,431.9	14,941.8
Property and Equipment
Land, buildings, equipment, and construction in progress	16,927.6	16,660.9
Accumulated depreciation	(8,861.5)	(8,607.4)
Property and equipment, net	8,066.1	8,053.5
Total assets	36,475.3	35,568.9
Current Liabilities
Short-term borrowings and current maturities of long-term debt	645.8	6.1
Accounts payable	1,207.8	1,338.2
Employee compensation	622.5	967.0
Sales rebates and discounts	3,098.8	2,560.1
Dividends payable	537.5	539.0
Income taxes payable	88.0	358.9
Other current liabilities	2,200.6	2,460.3
Total current liabilities	8,401.0	8,229.6
Other Liabilities
Long-term debt	8,685.5	7,972.4
Accrued retirement benefits	2,020.4	2,160.3
Long-term income taxes payable	805.1	868.9
Other noncurrent liabilities	1,907.1	1,747.4
Total other liabilities	13,418.1	12,749.0
Eli Lilly and Company Shareholders' Equity
Common stock	690.3	691.3
Additional paid-in capital	5,587.8	5,552.1
Retained earnings	15,824.1	16,011.8
Employee benefit trust	(3,013.2)	(3,013.2)
Accumulated other comprehensive loss	(4,371.2)	(4,580.7)
Cost of common stock in treasury	(80.5)	(90.0)
Total Eli Lilly and Company shareholders' equity	14,637.3	14,571.3
Noncontrolling interests	18.9	19.0
Total equity	14,656.2	14,590.3
Total liabilities and equity	$ 36,475.3	$ 35,568.9

Consolidated Condensed Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Allowances for doubtful accounts	$ 39.3	$ 44.3

Consolidated Condensed Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash Flows from Operating Activities
Net income	$ 1,187.8	$ 1,130.3
Adjustments to Reconcile Net Income to Cash Flows from Operating Activities:
Depreciation and amortization	759.2	726.0
Change in deferred income taxes	168.6	(666.5)
Stock-based compensation expense	127.0	104.7
Net payments for terminations of interest rate swaps	(3.4)	(186.1)
Acquired in-process research and development	0.0	336.0
Other changes in operating assets and liabilities, net of acquisitions and divestitures	(1,399.9)	(887.8)
Other non-cash operating activities, net	235.6	307.2
Net Cash Provided by Operating Activities	1,074.9	863.8
Cash Flows from Investing Activities
Net purchases of property and equipment	(399.7)	(412.5)
Proceeds from sales and maturities of short-term investments	925.4	1,285.3
Purchases of short-term investments	(265.3)	(588.5)
Proceeds from sales of noncurrent investments	919.3	1,750.5
Purchases of noncurrent investments	(2,269.2)	(1,832.8)
Restricted cash released for acquisition	0.0	5,405.6
Cash paid for acquisitions, net of cash acquired	(45.0)	(5,276.7)
Proceeds from sale of product rights	0.0	410.0
Purchase of in-process research and development	0.0	(336.0)
Other investing activities, net	(31.8)	(61.7)
Net Cash Provided by (Used for) Investing Activities	(1,166.3)	343.2
Cash Flows from Financing Activities
Dividends paid	(1,079.5)	(1,067.7)
Net change in short-term borrowings	(1.4)	(2,679.3)
Proceeds from issuance of long-term debt	1,206.6	4,454.6
Repayment of long-term debt	(0.1)	(1,949.2)
Purchases of common stock	(300.1)	(435.5)
Other financing activities, net	(62.5)	32.7
Net Cash Used for Financing Activities	(237.0)	(1,644.4)
Effect of exchange rate changes on cash and cash equivalents	(100.0)	(118.7)
Net decrease in cash and cash equivalents	(428.4)	(556.1)
Cash and cash equivalents at January 1	3,666.4	3,871.6
Cash and Cash Equivalents at June 30	$ 3,238.0	$ 3,315.5

Basis of Presentation	6 Months Ended
Basis of Presentation	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation [Text Block]	Note 1: Basis of Presentation We have prepared the accompanying unaudited consolidated condensed financial statements in accordance with the requirements of Form 10-Q and, therefore, they do not include all information and footnotes necessary for a fair presentation of financial position, results of operations, and cash flows in conformity with accounting principles generally accepted in the United States (GAAP). In our opinion, the financial statements reflect all adjustments (including those that are normal and recurring) that are necessary for a fair presentation of the results of operations for the periods shown. In preparing financial statements in conformity with GAAP, we must make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses, and related disclosures at the date of the financial statements and during the reporting period. Actual results could differ from those estimates. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with our consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2015. We issued our financial statements by filing with the Securities and Exchange Commission and have evaluated subsequent events up to the time of the filing. Certain reclassifications have been made to prior periods in the consolidated condensed financial statements and accompanying notes to conform with the current presentation. All per-share amounts, unless otherwise noted in the footnotes, are presented on a diluted basis, that is, based on the weighted-average number of outstanding common shares plus the effect of incremental shares from our stock-based compensation programs.

Implementation of New Financial Accounting Pronouncements

6 Months Ended

Jun. 30, 2016

New Accounting Pronouncements and Changes in Accounting Principles [Abstract]

Accounting Changes and Error Corrections [Text Block]

Note 2: Implementation of New Financial Accounting Pronouncements

The following table provides a brief description of accounting standards that have not yet been adopted and could have a material effect on our financial statements:



Standard	Description	Effective Date	Effect on the financial statements or other significant matters
Accounting Standards Update 2016-01, Financial Instruments - Overall: Recognition and Measurement of Financial Assets and Financial Liabilities	This standard will require entities to recognize changes in the fair value of equity investments with readily determinable fair values in net income (except for investments accounted for under the equity method of accounting or those that result in consolidation of the investee). An entity should apply the new standard through a cumulative effect adjustment to retained earnings as of the beginning of the fiscal year of adoption.	This standard is effective January 1, 2018. Early adoption of the majority of the amendments in this standard is not permitted, however, early application of certain amendments is permitted. We intend to fully adopt this standard on January 1, 2018.	We are unable to estimate the impact of adopting this standard as the significance of the impact will depend upon our equity investments as of the date of adoption.
Accounting Standards Update 2016-02, Leases	This standard was issued to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities, including leases classified as operating leases under current GAAP, on the balance sheet and requiring additional disclosures about leasing arrangements. This standard requires a modified retrospective approach to adoption.	This standard is effective January 1, 2019, with early adoption permitted. We intend to adopt this standard on January 1, 2019.	We are in the process of determining our approach to adopting the standard, as well as the anticipated impact on our consolidated financial statements.
Accounting Standards Update 2016-09, Compensation - Stock Compensation: Improvements to Employee Share-Based Payment Accounting	This standard will require entities to recognize all excess tax benefits and tax deficiencies in the statement of operations as a discrete item in the reporting period in which they occur. The standard also allows an employer to withhold up to the maximum statutory tax rate and still qualify for equity classification. Classification of excess tax benefits on the statement of cash flows should be classified as an operating activity, and employee taxes paid when an employer withholds shares for tax-withholding purposes should be classified as a financing activity. The provisions that affect the statement of operations will be effective prospectively in the year of adoption and the provisions that affect the statement of cash flows will be effective retrospectively.	This standard is effective January 1, 2017. Early adoption is permitted. We are evaluating our anticipated date of adoption.	We do not believe the impact of adopting this standard will have a material impact on our consolidated financial statements. We cannot predict the impact on our consolidated financial statements in future reporting periods following adoption as this will be dependent upon various factors including the number of shares issued and changes in the price of our stock between the grant date and settlement date.

- Definition

The entire 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.

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+ Details

Acquisitions

6 Months Ended

Jun. 30, 2016

Business Combinations [Abstract]

Acquisitions [Text Block]

Note 3: Acquisitions

On January 1, 2015, we completed the acquisition of Novartis Animal Health (Novartis AH). Additionally, on October 1, 2015, Bristol-Myers Squibb Company and E.R. Squibb (collectively, BMS) transferred to us their commercialization rights with respect to Erbitux^® in the United States (U.S.) and Canada (collectively, North America) through a modification of our existing arrangement. We also had an immaterial acquisition of a business in April 2016. These transactions were accounted for as business combinations under the acquisition method of accounting. See Note 4 for additional information related to the Erbitux arrangement. The assets acquired and liabilities assumed were recorded at their respective fair values as of the acquisition date in our consolidated financial statements. The determination of estimated fair value required management to make significant estimates and assumptions. The excess of the purchase price over the fair value of the acquired net assets, where applicable, has been recorded as goodwill. The results of operations of these acquisitions are included in our consolidated condensed financial statements from the dates of acquisition.

In addition to the acquisitions of businesses, we also acquired assets in development in the six months ended June 30, 2015, which are further discussed in this note below in Asset Acquisitions. Upon acquisition, the acquired in-process research and development (IPR&D) related to these products was immediately written off as an expense because the products had no alternative future use. For the six months ended June 30, 2016, we recorded no acquired IPR&D charges. There were acquired IPR&D charges of $80.0 million and $336.0 million for the three and six months ended June 30, 2015, respectively. The 2015 charges included the transactions discussed below in Asset Acquisitions and the upfront fee of $200.0 million related to tanezumab. See Note 4 for additional information related to the tanezumab arrangement.

Acquisition of a Business

Novartis AH Acquisition

Overview of Transaction

On January 1, 2015, we acquired from Novartis AG all of the shares of certain Novartis subsidiaries and the assets and liabilities of other Novartis subsidiaries that were exclusively related to the Novartis AH business in an all-cash transaction for a total purchase price of $5.28 billion, $5.41 billion of which was funded by cash held in escrow at December 31, 2014.

As a condition to the clearance of the transaction under the Hart-Scott-Rodino Antitrust Improvements Act, following the closing of the acquisition of Novartis AH, we divested certain animal health assets in the U.S. related to the Sentinel^® canine parasiticide franchise to Virbac Corporation for approximately $410 million.

The acquired Novartis AH business consisted of the research and development, manufacture, marketing, sale and distribution of veterinary products to prevent and treat diseases in pets, farm animals, and farmed fish. Under the terms of the agreement, we acquired manufacturing sites, research and development facilities, a global commercial infrastructure and portfolio of products, a pipeline of projects in development, and employees.

Assets Acquired and Liabilities Assumed

The following table summarizes the amounts recognized for assets acquired and liabilities assumed as of the acquisition date:



Estimated Fair Value at January 1, 2015
Inventories	$	380.2
Acquired in-process research and development	298.0
Marketed products ⁽¹⁾	1,953.0
Property and equipment	199.9
Assets held for sale (primarily the U.S. Sentinel rights)	422.7
Accrued retirement benefits	(108.7		)
Deferred income taxes	(60.1		)
Other assets and liabilities - net	(73.0		)
Total identifiable net assets	3,012.0
Goodwill ⁽²⁾	2,271.1
Total consideration transferred - net of cash acquired	$	5,283.1

⁽¹⁾ These intangible assets, which are being amortized to cost of sales on a straight-line basis over their estimated useful lives, were expected to have a weighted average useful life of 19 years.

⁽²⁾ The goodwill recognized from this acquisition is attributable primarily to expected synergies from combining the operations of Novartis AH with our legacy animal health business, future unidentified projects and products, and the assembled workforce of Novartis AH. Approximately $1.0 billion of the goodwill associated with this acquisition will be deductible for tax purposes.

Asset Acquisitions

The following table summarizes our asset acquisitions during the six months ended June 30, 2015 which are discussed in detail below. There were no asset acquisitions during the six months ended June 30, 2016.



Counterparty	Compound(s) or Therapy	Acquisition Month	Phase of Development ⁽¹⁾	Acquired IPR&D Expense
Innovent Biologics, Inc. (Innovent)	Monoclonal antibody targeting protein CD-20 Immuno-oncology molecules cMet monoclonal antibody	March 2015	Pre-clinical ⁽²⁾	$	56.0
Hanmi Pharmaceutical Co., Ltd. (Hanmi)	BTK Inhibitor - HM71224	April 2015	Phase I	50.0
BioNTech AG (BioNTech)	Cancer immunotherapies	May 2015	Pre-clinical	30.0

⁽¹⁾ The phase of development presented is as of the date of the arrangement.

⁽²⁾ Prior to acquisition, Innovent's monoclonal antibody targeting protein CD-20 had received investigational new drug approval in China to begin Phase I development.

In connection with the arrangements described herein, our partners may be entitled to future royalties based on sales should these products be approved for commercialization and/or milestones based on the successful progress of the compounds through the development process.

Our collaboration agreement with Innovent is to develop and commercialize a portfolio of cancer treatments. In China, we will be responsible for the commercialization efforts, while Innovent will lead the development and manufacturing efforts. Innovent also has co-promotion rights in China. We will be responsible for development, manufacturing, and commercialization efforts of Innovent's pre-clinical immuno-oncology molecules outside of China. Separate from the collaboration, we will continue the development of our cMet monoclonal antibody gene outside of China.

Our collaboration agreement with Hanmi is to develop and commercialize Hanmi's compound being investigated for the treatment of autoimmune and other diseases. We have rights to the molecule for all indications on a worldwide basis excluding Korea. We will be responsible for leading development, regulatory, manufacturing, and commercial efforts in our territories.

Our research collaboration with BioNTech is to discover novel cancer immunotherapies.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

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+ Details

Collaborations and Other Arrangements

6 Months Ended

Jun. 30, 2016

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Collaborations [Text Block]

Note 4: Collaborations and Other Arrangements

We often enter into collaborative and other similar arrangements to develop and commercialize drug candidates. Collaborative activities may include research and development, marketing and selling (including promotional activities and physician detailing), manufacturing, and distribution. These arrangements often require milestone and royalty or profit-share payments, contingent upon the occurrence of certain future events linked to the success of the asset in development, as well as expense reimbursements or payments to the collaboration partner. Elements within a collaboration are separated into individual units of accounting if they have standalone value from other elements within the arrangement. In these situations, the arrangement consideration is allocated to the elements on a relative selling price basis. Revenues related to products we sell pursuant to these arrangements are included in net product revenues, while other sources of revenue (e.g., royalties and profit-sharing due from our partner) are included in collaboration and other revenue.

The following table summarizes our collaboration and other revenue, which is included in revenue in the consolidated condensed statements of operations:



	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Collaboration and other revenue	$	208.5	$	233.4	$	390.8	$	429.5

Operating expenses for costs incurred pursuant to these arrangements are reported in their respective expense line item, net of any payments due to or reimbursements due from our collaboration partners, with such reimbursements being recognized at the time the party becomes obligated to pay. Each collaboration is unique in nature, and our more significant arrangements are discussed below.

Boehringer Ingelheim Diabetes Collaboration

We and Boehringer Ingelheim have a global agreement to jointly develop and commercialize a portfolio of diabetes compounds. Currently, included in the collaboration are Boehringer Ingelheim’s oral diabetes products: Trajenta^®, Jentadueto^®, Jardiance^®, Glyxambi^®, and Synjardy^®, as well as our basal insulin: Basaglar^®.

The table below summarizes significant regulatory and commercialization events and milestones (received) paid for the compounds included in this collaboration:



	Product Status			Milestones (Deferred) Capitalized ⁽¹⁾
Product Family	U.S.	Europe	Japan	Year	Amount
Trajenta ⁽²⁾	Launched 2011	Launched 2011	Launched 2011	2016	$	—
				2015	—
				Cumulative ⁽⁵⁾	446.4
Jardiance ⁽³⁾	Launched 2014	Launched 2014	Launched 2015	2016	—
				2015	—
				Cumulative ⁽⁵⁾	299.5
Basaglar	Approved ⁽⁴⁾	Launched 2015	Launched 2015	2016	(187.5		)
				2015	—
				Cumulative ⁽⁵⁾	(250.0		)

⁽¹⁾ In connection with the regulatory approvals of Basaglar in Europe and Japan, milestone payments received were recorded as deferred revenue and are being amortized through the term of the collaboration (2029) to collaboration and other revenue. In connection with the regulatory approvals of Trajenta and Jardiance, milestone payments made were capitalized as intangible assets and are being amortized to cost of sales.

⁽²⁾ Jentadueto is included in the Trajenta family of product results.

⁽³⁾ Glyxambi and Synjardyare included in the Jardiance family of product results.

⁽⁴⁾ In September 2015, we entered into a settlement agreement to resolve patent infringement litigation filed by Sanofi-Aventis U.S. LLC, which markets Lantus^®(insulin glargine). As part of the settlement agreement, the parties agreed that Basaglar can be launched in the U.S. beginning on December 15, 2016. Basaglar received U.S. Food and Drug Administration (FDA) approval in December 2015. As a result of receiving FDA approval, we received a $187.5 million milestone payment from Boehringer Ingelheim in the first quarter of 2016, which was recorded as deferred revenue and, upon product launch, will be amortized through the term of the collaboration to collaboration and other revenue.

⁽⁵⁾ The cumulative amount represents the total amounts as of the end of the reporting period that have been (deferred) or capitalized since the start of this collaboration.

In the most significant markets, we and Boehringer Ingelheim share equally the ongoing development costs, commercialization costs and agreed upon gross margin for any product resulting from the collaboration. We record our portion of the gross margin associated with Boehringer Ingelheim's compounds as collaboration and other revenue. We record our sales of Basaglar to third parties as net product revenues with the payments made to Boehringer Ingelheim for their portion of the gross margin recorded as cost of sales. For all compounds under this collaboration, we record our portion of the development and commercialization costs as research and development expense and marketing, selling, and administrative expense, respectively. Each company will also be entitled to potential performance payments on sales of the molecules it contributes to the collaboration. These performance payments result in the owner of the molecule retaining a greater share of the agreed upon gross margin of that product.

The following table summarizes our collaboration and other revenue recognized with respect to the Trajenta and Jardiance families of products:



	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Trajenta	$	121.0	$	80.0	$	215.4	$	162.4
Jardiance	40.1		11.1		78.3		30.3

Our revenue related to Basaglar was not significant for the three and six months ended June 30, 2016.

Erbitux

We have several collaborations with respect to Erbitux. The most significant collaborations are or, where applicable, were in Japan, and prior to the transfer of commercialization rights in the fourth quarter of 2015, the U.S. and Canada (Bristol-Myers Squibb Company); and worldwide except North America (Merck KGaA). Certain rights to Erbitux outside North America will remain with Merck KGaA (Merck) upon expiration of that agreement.

The following table summarizes our revenue recognized with respect to Erbitux:



	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Net product revenues - BMS	$	—	$	11.0	$	—	$	24.8
Net product revenues - third party	158.4		—		299.9		—
Collaboration and other revenue	22.2		123.6		48.7		198.0
Revenue	$	180.6	$	134.6	$	348.6	$	222.8

Bristol-Myers Squibb Company

Pursuant to commercial agreements with BMS, we had been co-developing Erbitux in North America with BMS exclusively. A separate agreement grants co-exclusive rights among Merck, BMS, and us in Japan and expires in 2032. On October 1, 2015, BMS transferred their commercialization rights to us with respect to Erbitux in North America pursuant to a modification of our existing arrangement, and we began selling Erbitux at that time. This modification did not affect our rights with respect to Erbitux in other jurisdictions. In connection with the modification of terms, we will provide consideration to BMS based upon a tiered percentage of net sales of Erbitux in North America estimated to average 38 percent through September 2018. The transfer of the commercialization rights was accounted for as an acquisition of a business.

The following table summarizes the amounts recognized for assets acquired and liabilities assumed as of the acquisition date:



Estimated Fair Value at October 1, 2015
Marketed products ⁽¹⁾	$	602.1
Deferred tax asset	232.2
Deferred tax liability	(228.2		)
Other assets and liabilities - net	57.2
Total identifiable net assets	$	663.3
Total consideration - contingent consideration liability ⁽²⁾	$	(663.3	)

⁽¹⁾These intangible assets are being amortized to cost of sales using the straight-line method through the co-development period in North America as set forth in the original agreement, which was scheduled to expire in September 2018.

⁽²⁾See Note 6 for discussion on the estimation of the contingent consideration liability.

Including the Erbitux business as if we had acquired it on January 1, 2015, our combined consolidated unaudited pro forma revenue and total Erbitux revenue would have been approximately $5.1 billion and $230 million, respectively, for the three months ended June 30, 2015, and $9.8 billion and $405 million, respectively, for the six months ended June 30, 2015. This unaudited pro forma financial information adjusts the historical consolidated revenue to give effect to pro forma events that are directly attributable to the acquisition. There would have been no material change to our historical consolidated net income. The unaudited pro forma financial information is not necessarily indicative of what our consolidated revenues would have been had we completed the acquisition on January 1, 2015. In addition, the unaudited pro forma financial information does not attempt to project the future results of operations of our combined company.

Until the effective date of the transfer of the business, the arrangements between us and BMS were as set forth in this paragraph. Erbitux research and development and other costs were shared by both companies according to a predetermined ratio. Responsibilities associated with clinical and other ongoing studies were apportioned between the parties under the agreements. Collaborative reimbursements due to us for supply of clinical trial materials; for research and development; and for a portion of marketing, selling, and administrative expenses were recorded as a reduction to the respective expense line items on the consolidated statement of operations. We received a distribution fee in the form of a royalty from BMS, based on a percentage of net sales in North America, which was recorded in collaboration and other revenue. Royalties due to third parties were recorded as a reduction of collaboration and other revenue, net of any royalty reimbursements due from third parties. We were responsible for the manufacture and supply of all requirements of Erbitux in bulk-form active pharmaceutical ingredient (API) for clinical and commercial use in North America, and BMS purchased all of its requirements of API from us, subject to certain stipulations per the agreement. Sales of Erbitux API to BMS were reported in net product revenues.

Merck KGaA

A development and license agreement grants Merck exclusive rights to market Erbitux outside of North America until December 2018. A separate agreement grants co-exclusive rights among Merck, BMS, and us in Japan and expires in 2032. This agreement was amended in 2015 to grant Merck exclusive commercialization rights in Japan but did not result in any changes to our rights.

Merck manufactures Erbitux for supply in its territory as well as for Japan. We receive a royalty on the sales of Erbitux outside of North America, which is included in collaboration and other revenue as earned. Royalties due to third parties are recorded as a reduction of collaboration and other revenue, net of any royalty reimbursements due from third parties.

Effient^®

We are in a collaborative arrangement with Daiichi Sankyo Co., Ltd. (Daiichi Sankyo) to develop, market, and promote Effient. Marketing rights for major territories are shown below. We and Daiichi Sankyo each have exclusive marketing rights in certain other territories.



Territory	Marketing Rights	Selling Party
U.S.	Co-promotion	Lilly
Major European markets	Co-promotion	Pre-January 1, 2016, Lilly Post-January 1, 2016, Daiichi Sankyo
Japan	Exclusive	Daiichi Sankyo

Beginning January 1, 2016, while major European markets continue to be a co-promotion territory under the terms of our arrangement, Daiichi Sankyo exclusively promotes Effient in these markets. The economic results for the major European markets continue to be shared in the same proportion as they were previously.

The parties share approximately 50/50 in the profits, as well as in the costs of development and marketing in the co-promotion territories. A third party manufactures bulk product, and we continue to produce the finished product for our exclusive and co-promotion territories, including the major European markets.

We record net product revenue in our exclusive and co-promotion territories where we are the selling party. Profit-share payments due to Daiichi Sankyo for co-promotion countries where we are the selling party are recorded as marketing, selling, and administrative expenses. Beginning January 1, 2016, any profit-share payments due to us from Daiichi Sankyo for the major European markets are recorded as collaboration and other revenue. We also record our share of the expenses in these co-promotion territories as marketing, selling, and administrative expenses. In our exclusive territories, we pay Daiichi Sankyo a royalty specific to these territories. All royalties due to Daiichi Sankyo and the third-party manufacturer are recorded in cost of sales.

The following table summarizes our revenue recognized with respect to Effient:



	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Revenue	$	135.1	$	128.8	$	266.6	$	250.6

Baricitinib

We have a worldwide license and collaboration agreement with Incyte Corporation (Incyte) which provides us the development and commercialization rights to its Janus tyrosine kinase inhibitor compound, now known as baricitinib, and certain follow-on compounds, for the treatment of inflammatory and autoimmune diseases. Incyte has the right to receive tiered, double-digit royalty payments on future global sales with rates ranging up to 20 percent if the product is successfully commercialized. The agreement provides Incyte with options to co-develop these compounds on an indication-by-indication basis by funding 30 percent of the associated development costs from the initiation of a Phase IIb trial through regulatory approval in exchange for increased tiered royalties ranging up to percentages in the high twenties. In 2010, Incyte exercised its option to co-develop baricitinib in rheumatoid arthritis. The agreement calls for payments associated with certain development, success-based regulatory, and sales-based milestones. In the first quarter of 2016, we incurred milestone-related expenses of $55.0 million in connection with regulatory submissions in the U.S. and Europe which were recorded as research and development expense. As of June 30, 2016, Incyte is eligible to receive up to $360.0 million of additional payments from us contingent upon certain development and success-based regulatory milestones, of which $180.0 million relates to regulatory decisions for a first indication. Incyte is also eligible to receive up to $150.0 million of potential sales-based milestones.

Solanezumab

We have an agreement with an affiliate of TPG-Axon Capital (TPG) whereby TPG funded a portion of the Phase III development of solanezumab. Under the agreement, TPG’s obligation to fund solanezumab costs ended in 2011. In exchange for its funding, TPG is eligible to receive success-based sales milestones totaling approximately $70 million and mid-single digit royalties contingent upon the successful development of solanezumab. The royalties would be paid for approximately 10 years after launch of a product.

Tanezumab

In October 2013, we entered into a collaboration agreement with Pfizer Inc. (Pfizer) to jointly develop and globally commercialize tanezumab for the treatment of osteoarthritis pain, chronic low back pain and cancer pain. Under the agreement, the companies share equally the ongoing development costs and, if successful, in gross margins and certain commercialization expenses. Following the FDA's decision in March 2015 to lift the partial clinical hold on tanezumab, certain Phase III trials resumed in July 2015. Upon the FDA's lifting of the partial clinical hold and the decision to continue the collaboration with Pfizer, we paid an upfront fee of $200.0 million, which was expensed as acquired IPR&D in the first quarter of 2015. In addition to this fee, Pfizer is eligible to receive up to $350.0 million in success-based regulatory milestones and up to $1.23 billion in a series of sales-based milestones, contingent upon the commercial success of tanezumab.

BACE Inhibitor

In September 2014, we entered into a collaboration agreement with AstraZeneca UK Limited (AstraZeneca) for the worldwide co-development and co-commercialization of AstraZeneca’s AZD3293, an oral beta-secretase cleaving enzyme (BACE) inhibitor being investigated for the potential treatment of Alzheimer’s disease. We are responsible for leading development efforts, while AstraZeneca will be responsible for manufacturing efforts. If successful, both parties will take joint responsibility for commercialization. Under the agreement, both parties share equally in the ongoing development costs and, if successful, in gross margins and certain other costs associated with commercialization of the molecule. As a result of the molecule moving into Phase III testing in April 2016, we incurred a $100.0 million developmental milestone, which was recorded as research and development expense in the second quarter of 2016. AstraZeneca is eligible to receive up to an additional $350.0 million contingent upon the achievement of certain development and success-based regulatory milestones.

Summary of Commission and Profit-Share Payments

The following table summarizes our aggregate amount of marketing, selling, and administrative expense associated with our commission and profit-sharing obligations for the collaborations and other arrangements described above:



	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Marketing, selling, and administrative	$	47.3	$	53.5	$	96.3	$	102.8

Asset Impairment, Restructuring, and Other Special Charges Asset Impairment, Restructuring, and Other Special Charges

6 Months Ended

Jun. 30, 2016

Restructuring Cost and Reserve [Line Items]

Restructuring and Related Activities Disclosure [Text Block]

Note 5: Asset Impairment, Restructuring, and Other Special Charges

The components of the charges included in asset impairment, restructuring, and other special charges in our consolidated condensed statements of operations are described below.



	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Severance:
Human pharmaceutical	$	—	$	8.2	$	—	$	16.9
Animal health	19.2		13.9		28.7		36.3
Total severance	19.2		22.1		28.7		53.2
Asset impairment and other special charges:
Human pharmaceutical	—		17.2		—		17.2
Animal health	38.8		33.1		160.7		110.0
Total asset impairment and other special charges	38.8		50.3		160.7		127.2
Total asset impairment, restructuring, and other special charges	$	58.0	$	72.4	$	189.4	$	180.4

Severance costs recognized during the three months ended June 30, 2016 related primarily to the integration of Novartis AH. Severance costs recognized during the six months ended June 30, 2016 related primarily to the integration of Novartis AH, as well as our decision to close an animal health manufacturing plant in Ireland. Severance costs recognized during the three and six months ended June 30, 2015 related primarily to the acquisition of Novartis AH, as well as severance costs for actions taken to reduce our cost structure.

Asset impairment and other special charges recognized during the three months ended June 30, 2016 related primarily to integration costs related to our acquisition of Novartis AH. Asset impairment and other special charges recognized during the six months ended June 30, 2016 resulted primarily from $87.2 million of asset impairment and other charges related to our decision to close an animal health manufacturing plant in Ireland. The manufacturing plant was written down to its estimated fair value, which was based primarily on recent sales of similar assets. The remaining asset impairment and other special charges recognized during the six months ended June 30, 2016 consisted of integration costs related to our acquisition of Novartis AH. Asset impairment and other special charges recognized during the three and six months ended June 30, 2015 related primarily to integration costs and intangible asset impairments due to product rationalization resulting from our acquisition of Novartis AH.

Financial Instruments

6 Months Ended

Jun. 30, 2016

Fair Value Disclosures [Abstract]

Financial Instruments [Text Block]

Note 6: Financial Instruments

Financial instruments that potentially subject us to credit risk consist principally of trade receivables and interest-bearing investments. Wholesale distributors of life-science products account for a substantial portion of our trade receivables; collateral is generally not required. The risk associated with this concentration is mitigated by our ongoing credit-review procedures and insurance. A large portion of our cash is held by a few major financial institutions. We monitor our exposures with these institutions and do not expect any of these institutions to fail to meet their obligations. Major financial institutions represent the largest component of our investments in corporate debt securities. In accordance with documented corporate risk-management policies, we monitor the amount of credit exposure to any one financial institution or corporate issuer. We are exposed to credit-related losses in the event of nonperformance by counterparties to risk-management instruments but do not expect any counterparties to fail to meet their obligations given their high credit ratings.

Our derivative activities are initiated within the guidelines of documented corporate risk-management policies and offset losses and gains on the assets, liabilities, and transactions being hedged. Management reviews the correlation and effectiveness of our derivatives on a quarterly basis.

For derivative instruments that are designated and qualify as fair value hedges, the derivative instrument is marked to market with gains and losses recognized currently in income to offset the respective losses and gains recognized on the underlying exposure. For derivative instruments that are designated and qualify as cash flow hedges, the effective portion of gains and losses is reported as a component of accumulated other comprehensive loss and reclassified into earnings in the same period the hedged transaction affects earnings. For derivative and non-derivative instruments that are designated and qualify as net investment hedges, the effective portion of foreign currency translation gains or losses due to spot rate fluctuations are reported as a component of accumulated other comprehensive loss. Hedge ineffectiveness is immediately recognized in earnings. Derivative contracts that are not designated as hedging instruments are recorded at fair value with the gain or loss recognized in current earnings during the period of change.

We may enter into foreign currency forward or option contracts to reduce the effect of fluctuating currency exchange rates (principally the euro, the British pound, Japanese yen, and the Swiss franc). Foreign currency derivatives used for hedging are put in place using the same or like currencies and duration as the underlying exposures. Forward and option contracts are principally used to manage exposures arising from subsidiary trade and loan payables and receivables denominated in foreign currencies. These contracts are recorded at fair value with the gain or loss recognized in other–net, (income) expense. We may enter into foreign currency forward and option contracts and currency swaps as fair value hedges of firm commitments. Forward contracts generally have maturities not exceeding 12 months. At June 30, 2016, we had outstanding foreign currency forward commitments to purchase 707.0 million U.S. dollars and sell 633.8 million euro, commitments to purchase 1.61 billion euro and sell 1.82 billion U.S. dollars, commitments to purchase 686.0 million U.S. dollars and sell 72.07 billion Japanese yen, commitments to purchase 246.4 million British pounds and sell 309.9 million euro, commitments to purchase 270.9 million U.S. dollars and sell 191.5 million British pounds, and commitments to purchase 228.6 million Swiss francs and sell 236.2 million U.S. dollars, which will all settle within 30 days.

Foreign currency exchange risk is also managed through the use of foreign currency debt and cross-currency interest rate swaps. Our foreign currency-denominated notes, which had carrying amounts of $3.52 billion and $2.27 billion as of June 30, 2016 and December 31, 2015, respectively, have been designated as, and are effective as, economic hedges of net investments in certain of our euro-denominated and Swiss franc-denominated operations. Our cross-currency interest rate swaps that convert a portion of our U.S. dollar-denominated floating rate debt to euro-denominated floating rate debt have also been designated as, and are effective as, economic hedges of net investments in certain of our euro-denominated foreign operations.

In the normal course of business, our operations are exposed to fluctuations in interest rates which can vary the costs of financing, investing, and operating. We address a portion of these risks through a controlled program of risk management that includes the use of derivative financial instruments. The objective of controlling these risks is to limit the impact of fluctuations in interest rates on earnings. Our primary interest-rate risk exposure results from changes in short-term U.S. dollar interest rates. In an effort to manage interest-rate exposures, we strive to achieve an acceptable balance between fixed- and floating-rate debt and investment positions and may enter into interest rate swaps or collars to help maintain that balance.

Interest rate swaps or collars that convert our fixed-rate debt to a floating rate are designated as fair value hedges of the underlying instruments. Interest rate swaps or collars that convert floating-rate debt to a fixed rate are designated as cash flow hedges. Interest expense on the debt is adjusted to include the payments made or received under the swap agreements. Cash proceeds from or payments to counterparties resulting from the termination of interest rate swaps are classified as operating activities in our consolidated condensed statement of cash flows. At June 30, 2016, substantially all of our total long-term debt is at a fixed rate. We have converted approximately 30 percent of our long-term fixed-rate notes to floating rates through the use of interest rate swaps.

We may enter into forward contracts and designate them as cash flow hedges to limit the potential volatility of earnings and cash flow associated with forecasted sales of available-for-sale securities.

In March 2015, we issued $600.0 million of 1.25 percent fixed-rate notes due March 1, 2018, $800.0 million of 2.75 percent fixed-rate notes due June 1, 2025, and $800.0 million of 3.70 percent fixed-rate notes due March 1, 2045, with interest to be paid semi-annually. The proceeds from the issuance of the notes were used primarily to repay outstanding commercial paper issued in connection with our January 2015 acquisition of Novartis AH.

In June 2015, we issued euro-denominated notes consisting of €600.0 million of 1.00 percent fixed-rate notes due June 2, 2022, €750.0 million of 1.63 percent fixed-rate notes due June 2, 2026, and €750.0 million of 2.13 percent fixed-rate notes due June 3, 2030, with interest to be paid annually. The net cash proceeds of the offering of $2.27 billion were used primarily to purchase and redeem certain higher interest rate U.S. dollar-denominated notes and to repay outstanding commercial paper. We paid $1.95 billion to purchase and redeem notes with an aggregate principal amount of $1.65 billion and a net carrying value of $1.78 billion in June 2015, resulting in a pretax debt extinguishment loss of $166.7 million, which was included in other–net, (income) expense in our consolidated condensed statement of operations during the three and six months ended June 30, 2015.

In May 2016, we issued Swiss franc-denominated notes consisting of Fr.200.0 million of 0.00 percent fixed-rate notes due May 24, 2018, Fr.600.0 million of 0.15 percent fixed-rate notes due May 24, 2024, and Fr.400.0 million of 0.45 percent fixed-rate notes due May 24, 2028, with interest to be paid annually. We plan to use the net cash proceeds of the offering of $1.21 billion for general corporate purposes, including the repayment or redemption prior to maturity of certain of our U.S. dollar denominated fixed-rate notes due March 2017.

We may enter into forward-starting interest rate swaps, which we designate as cash flow hedges, as part of any anticipated future debt issuances in order to reduce the risk of cash flow volatility from future changes in interest rates. Upon completion of a debt issuance and termination of the swap, the change in fair value of these instruments is recorded as part of other comprehensive income (loss) and is amortized to interest expense over the life of the underlying debt.

Upon issuance of our underlying U.S. dollar-denominated fixed-rate notes in March 2015, we terminated forward-starting interest rate contracts in designated cash flow hedging instruments with an aggregate notional amount of $1.35 billion and paid $206.3 million in cash to the counterparties for settlement. The settlement amount represented the fair value of the forward-starting interest rate contracts at the time of termination and was recorded in other comprehensive loss.

In connection with the June 2015 note purchase and redemption discussed above, we terminated certain interest rate swaps designated as fair value hedges with an aggregate notional amount of $876.0 million. As a result of the termination, we received cash of $20.2 million, which represented the fair value of the interest rate swaps at the time of termination. The related fair value adjustment was recorded as an increase to the carrying value of the underlying notes and was included as a component of the debt extinguishment loss.

The Effect of Risk-Management Instruments on the Consolidated Condensed Statement of Operations

The following effects of risk-management instruments were recognized in other–net, (income) expense:



	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016			2015
Fair value hedges:
Effect from hedged fixed-rate debt	$	35.8		$	(99.2	)	$	111.1		$	(40.3	)
Effect from interest rate contracts	(35.8		)	99.2			(111.1		)	40.3
Cash flow hedges:
Effective portion of losses on interest rate contracts reclassified from accumulated other comprehensive loss	3.7			3.6			7.4			6.3
Net (gains) losses on foreign currency exchange contracts not designated as hedging instruments	90.9			(1.2		)	104.2			22.1

The Effect of Risk-Management Instruments on Other Comprehensive Income (Loss)

The effective portion of risk-management instruments that was recognized in other comprehensive income (loss) is as follows:



	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016			2015
Net investment hedges:
Foreign currency-denominated notes	$	34.8		$	(33.8	)	$	(43.0	)	$	(33.8	)
Cross-currency interest rate swaps	7.5			—			6.3			—
Foreign currency exchange contracts	31.9			—			31.9			—
Cash flow hedges:
Forward-starting interest rate swaps	(3.4		)	—			(3.4		)	(56.7		)

During the next 12 months, we expect to reclassify from accumulated other comprehensive loss to earnings $15.2 million of pretax net losses on cash flow hedges of the variability in expected future interest payments on our floating rate debt.

During the six months ended June 30, 2016 and 2015, net losses related to ineffectiveness, as well as net losses related to the portion of our risk-management hedging instruments, fair value hedges, and cash flow hedges that were excluded from the assessment of effectiveness, were not material.

Fair Value of Financial Instruments

The following tables summarize certain fair value information at June 30, 2016 and December 31, 2015 for assets and liabilities measured at fair value on a recurring basis, as well as the carrying amount and amortized cost of certain other investments:



					Fair Value Measurements Using
	Carrying Amount		Cost ⁽¹⁾		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value
June 30, 2016
Cash equivalents	$	1,615.3	$	1,615.3	$	1,612.3	$	3.0	$	—	$	1,615.3

Short-term investments:
U.S. government and agency securities	$	66.3	$	66.3	$	66.3	$	—	$	—	$	66.3
Corporate debt securities	624.4		623.7		—		624.4		—		624.4
Asset-backed securities	3.4		3.4		—		3.4		—		3.4
Other securities	2.7		2.7		—		2.7		—		2.7
Short-term investments	$	696.8

Noncurrent investments:
U.S. government and agency securities	$	465.6	$	461.3	$	465.6	$	—	$	—	$	465.6
Corporate debt securities	2,545.7		2,529.6		—		2,545.7		—		2,545.7
Mortgage-backed securities	197.2		194.8		—		197.2		—		197.2
Asset-backed securities	455.5		454.4		—		455.5		—		455.5
Other securities	155.7		105.5		12.5		7.1		136.1		155.7
Marketable equity securities	95.9		64.0		95.9		—		—		95.9
Cost and equity method investments ⁽²⁾	533.6
Noncurrent investments	$	4,449.2

December 31, 2015
Cash equivalents	$	1,644.4	$	1,644.4	$	1,637.0	$	7.4	$	—	$	1,644.4

Short-term investments:
U.S. government and agency securities	$	153.2	$	153.4	$	153.2	$	—	$	—	$	153.2
Corporate debt securities	625.8		626.9		—		625.8		—		625.8
Asset-backed securities	3.3		3.3		—		3.3		—		3.3
Other securities	3.1		3.1		—		3.1		—		3.1
Short-term investments	$	785.4

Noncurrent investments:
U.S. government and agency securities	$	284.5	$	286.0	$	283.5	$	1.0	$	—	$	284.5
Corporate debt securities	1,962.6		1,995.8		—		1,962.6		—		1,962.6
Mortgage-backed securities	153.3		154.7		—		153.3		—		153.3
Asset-backed securities	441.9		443.1		—		441.9		—		441.9
Other securities	137.1		97.3		—		4.1		133.0		137.1
Marketable equity securities	128.9		74.8		128.9		—		—		128.9
Cost and equity method investments ⁽²⁾	538.3
Noncurrent investments	$	3,646.6

⁽¹⁾ For available-for-sale debt securities, amounts disclosed represent the securities' amortized cost.

⁽²⁾ Fair value disclosures are not applicable for cost method and equity method investments.



				Fair Value Measurements Using
	Carrying Amount			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)		Fair Value
Long-term debt, including current portion
June 30, 2016	$	(9,331.3	)	$	—	$	(9,926.9	)	$	—	$	(9,926.9	)
December 31, 2015	(7,978.5		)	—		(8,172.0		)	—		(8,172.0		)



				Fair Value Measurements Using
	Carrying Amount			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Fair Value
June 30, 2016
Risk-management instruments:
Interest rate contracts designated as fair value hedges:
Other receivables	$	9.9		$	—	$	9.9		$	—		$	9.9
Sundry	170.9			—		170.9			—			170.9
Cross-currency interest rate contracts designated as net investment hedges:
Sundry	5.9			—		5.9			—			5.9
Foreign exchange contracts not designated as hedging instruments:
Other receivables	20.3			—		20.3			—			20.3
Other current liabilities	(72.4		)	—		(72.4		)	—			(72.4		)
Contingent consideration liabilities ⁽¹⁾:
Other current liabilities	(246.6		)	—		—			(246.6		)	(246.6		)
Other noncurrent liabilities	(358.4		)	—		—			(358.4		)	(358.4		)

December 31, 2015
Risk-management instruments:
Interest rate contracts designated as fair value hedges:
Sundry	$	70.1		$	—	$	70.1		$	—		$	70.1
Other noncurrent liabilities	(0.4		)	—		(0.4		)	—			(0.4		)
Foreign exchange contracts not designated as hedging instruments:
Other receivables	13.1			—		13.1			—			13.1
Other current liabilities	(17.3		)	—		(17.3		)	—			(17.3		)
Contingent consideration liabilities ⁽¹⁾:
Other current liabilities	(243.7		)	—		—			(243.7		)	(243.7		)
Other noncurrent liabilities	(427.2		)	—		—			(427.2		)	(427.2		)

⁽¹⁾ Contingent consideration liabilities primarily relate to the Erbitux arrangement with BMS discussed in Note 4.

Risk-management instruments above are disclosed on a gross basis. There are various rights of setoff associated with certain of the risk-management instruments above that are subject to an enforceable master netting arrangement or similar agreements. Although various rights of setoff and master netting arrangements or similar agreements may exist with the individual counterparties to the risk-management instruments above, individually, these financial rights are not material.

We determine our Level 1 and Level 2 fair value measurements based on a market approach using quoted market values, significant other observable inputs for identical or comparable assets or liabilities, or discounted cash flow analyses. Level 3 fair value measurements for other investment securities are determined using unobservable inputs, including the investments' cost adjusted for impairments and price changes from orderly transactions. The fair value of cost and equity method investments is not readily available.

Contingent consideration liabilities primarily include contingent consideration related to Erbitux for which the fair value was estimated using a discounted cash flow analysis and Level 3 inputs, including projections representative of a market participant view for net sales in North America through September 2018 and an estimated discount rate. The amount to be paid is calculated as a tiered percentage of net sales (see Note 4) and will, therefore, vary directly with increases and decreases in net sales of Erbitux in North America. There is no cap on the amount that may be paid pursuant to this arrangement. The decrease in the fair value of the contingent consideration liabilities during the six months ended June 30, 2016 was due primarily to cash payments of $111.6 million related to Erbitux. The change in the fair value of the contingent consideration liabilities recognized in earnings during the three and six months ended June 30, 2016 was not material.

The table below summarizes the contractual maturities of our investments in debt securities measured at fair value as of June 30, 2016:



	Maturities by Period
	Total		Less Than 1 Year		2-5 Years		6-10 Years		More Than 10 Years
Fair value of debt securities	$	4,367.9	$	696.8	$	3,134.8	$	261.7	$	274.6

A summary of the fair value of available-for-sale securities in an unrealized gain or loss position and the amount of unrealized gains and losses (pretax) in accumulated other comprehensive loss follows:



	June 30, 2016		December 31, 2015
Unrealized gross gains	$	79.8	$	68.0
Unrealized gross losses	23.2		52.5
Fair value of securities in an unrealized gain position	3,550.8		764.5
Fair value of securities in an unrealized loss position	769.9		2,933.4

We periodically assess our investment securities for other-than-temporary impairment losses. Other-than-temporary impairment losses recognized during the three and six months ended June 30, 2016 totaled $15.9 million and $41.6 million, respectively. Impairment losses recognized during the three months ended June 30, 2016 related primarily to our marketable equity securities, while impairment losses recognized during the six months ended June 30, 2016 related primarily to our cost and equity method investments. Other-than-temporary impairment losses recognized during the three and six months ended June 30, 2015 totaled $6.2 million and $9.8 million, respectively.

For fixed-income securities, the amount of credit losses are determined by comparing the difference between the present value of future cash flows expected to be collected on these securities and the amortized cost. Factors considered in assessing credit losses include the position in the capital structure, vintage and amount of collateral, delinquency rates, current credit support, and geographic concentration.

For equity securities, factors considered in assessing other-than-temporary impairment losses include the length of time and the extent to which the fair value has been less than cost, the financial condition and near term prospects of the issuer, our intent and ability to retain the securities for a period of time sufficient to allow for recovery in fair value, and general market conditions and industry specific factors.

As of June 30, 2016, the securities in an unrealized loss position include primarily our marketable equity securities as well as fixed-rate debt securities of varying maturities. Marketable equity securities are sensitive to market price adjustments for general market conditions and industry or sector specific factors, and fixed-rate debt securities are sensitive to changes in the yield curve and other market conditions. Approximately 70 percent of the fixed-rate debt securities in a loss position are investment-grade debt securities. As of June 30, 2016, we do not intend to sell, and it is not more likely than not that we will be required to sell the securities in a loss position before the market values recover or the underlying cash flows have been received, and there is no indication of default on interest or principal payments for any of our debt securities.

Activity related to our investment portfolio, substantially all of which related to available-for-sale securities, was as follows:



	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Proceeds from sales	$	850.7	$	1,900.1	$	1,577.1	$	2,869.9
Realized gross gains on sales	3.4		47.8		5.2		102.3
Realized gross losses on sales	3.1		1.7		10.4		2.4

Realized gains and losses on sales of investments are computed based upon specific identification of the initial cost adjusted for any other-than-temporary declines in fair value that were recorded in earnings.

Accounts Receivable Factoring Arrangements

We have entered into accounts receivable factoring agreements with financial institutions to sell certain of our non-U.S. accounts receivable. These transactions are accounted for as sales and result in a reduction in accounts receivable because the agreements transfer effective control over and risk related to the receivables to the buyers. Our factoring agreements do not allow for recourse in the event of uncollectibility, and we do not retain interest in the underlying accounts receivable once sold. We derecognized $731.9 million and $670.6 million of accounts receivable as of June 30, 2016 and December 31, 2015, respectively, under these factoring arrangements. The cost of factoring such accounts receivable on our consolidated results of operations for the six months ended June 30, 2016 and 2015 was not material.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Shareholders' Equity	6 Months Ended
Shareholders' Equity	Jun. 30, 2016
Equity, Class of Treasury Stock [Line Items]
Stockholders' Equity Note Disclosure [Text Block]	Note 7: Shareholders’ Equity During the six months ended June 30, 2016 and 2015, we repurchased $300.1 million and $435.5 million of shares, respectively, associated with our $5.00 billion share repurchase program announced in October 2013. As of June 30, 2016, there were $2.65 billion of shares remaining in that program.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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+ Details

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes [Text Block]	Note 8: Income Taxes The U.S. examination of tax years 2010-2012 commenced during the fourth quarter of 2013. In December 2015, we executed a closing agreement with the Internal Revenue Service which effectively settled certain matters for tax years 2010-2012. Accordingly, we reduced our gross uncertain tax positions by approximately $320 million in 2015. During the first quarter of 2016, we effectively settled the remaining matters related to tax years 2010-2012. As a result of this resolution, our gross uncertain tax positions were further reduced by approximately $140 million, and our consolidated results of operations benefited from an immaterial reduction in income tax expense. During the six months ended June 30, 2016, we made cash payments of approximately $150 million related to tax years 2010-2012 after application of available tax credit carryforwards and carrybacks. We anticipate additional cash payments of approximately $10 million in 2016 related to the settlement. The U.S. examination of tax years 2013-2014 commenced during the first quarter of 2016; we expect the U.S. examination of 2015 to begin in the third quarter of 2016.

Retirement Benefits

6 Months Ended

Jun. 30, 2016

Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]

Retirement Benefits [Text Block]

Note 9: Retirement Benefits

Net pension and retiree health benefit (income) cost included the following components:



	Defined Benefit Pension Plans
	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016			2015
Components of net periodic benefit cost:
Service cost	$	70.6		$	85.5		$	142.0		$	162.5
Interest cost	105.1			117.2			210.2			234.3
Expected return on plan assets	(189.6		)	(192.2		)	(379.1		)	(384.0		)
Amortization of prior service (benefit) cost	(0.2		)	2.6			5.7			5.1
Recognized actuarial loss	74.0			90.9			142.4			183.3
Net periodic benefit cost	$	59.9		$	104.0		$	121.2		$	201.2



	Retiree Health Benefit Plans
	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016			2015
Components of net periodic benefit income:
Service cost	$	10.3		$	11.2		$	19.6		$	21.0
Interest cost	13.2			15.3			26.0			30.7
Expected return on plan assets	(37.6		)	(37.1		)	(75.1		)	(74.2		)
Amortization of prior service benefit	(21.5		)	(21.6		)	(42.8		)	(43.2		)
Recognized actuarial loss	5.2			9.5			10.3			18.9
Net periodic benefit income	$	(30.4	)	$	(22.7	)	$	(62.0	)	$	(46.8	)

We have contributed approximately $25 million required to satisfy minimum funding requirements to our defined benefit pension and retiree health benefit plans during the six months ended June 30, 2016. Additional discretionary funding in the aggregate was not material during the six months ended June 30, 2016. During the remainder of 2016, we expect to make contributions to our defined benefit pension and retiree health benefit plans of approximately $25 million to satisfy minimum funding requirements. Additional discretionary funding for the remainder of 2016 is not expected to be material.

Contingencies	6 Months Ended
Contingencies	Jun. 30, 2016
Loss Contingency, Information about Litigation Matters [Abstract]
Contingencies [Text Block]	Note 10: Contingencies We are a party to various legal actions and government investigations. The most significant of these are described below. It is not possible to determine the outcome of these matters, and we cannot reasonably estimate the maximum potential exposure or the range of possible loss in excess of amounts accrued for any of these matters; however, we believe that, except as noted below with respect to the Alimta^® patent litigation and administrative proceedings, the resolution of all such matters will not have a material adverse effect on our consolidated financial position or liquidity, but could possibly be material to our consolidated results of operations in any one accounting period. Alimta Patent Litigation and Administrative Proceedings A number of generic manufacturers are seeking approvals in various countries to market generic forms of Alimta prior to the expiration of our vitamin regimen patents, alleging that those patents are invalid, not infringed, or both. We believe our Alimta vitamin regimen patents are valid and enforceable against these generic manufacturers. However, it is not possible to determine the ultimate outcome of the proceedings, and accordingly, we can provide no assurance that we will prevail. An unfavorable outcome could have a material adverse impact on our future consolidated results of operations, liquidity, and financial position. We expect that a loss of exclusivity for Alimta would result in a rapid and severe decline in future revenues for the product in the relevant market. U.S. Patent Litigation and Administrative Proceedings We are engaged in various U.S. patent litigation matters involving Alimta brought pursuant to procedures set out in the Drug Price Competition and Patent Term Restoration Act of 1984 (the Hatch-Waxman Act). More than 10 Abbreviated New Drug Applications (ANDAs) seeking approval to market generic versions of Alimta prior to the expiration of our vitamin regimen patent (expiring in 2021 plus pediatric exclusivity expiring in 2022) have been filed by a number of companies, including Teva Parenteral Medicines, Inc. (Teva) and APP Pharmaceuticals, LLC (APP). These companies have also alleged the patent is invalid. In October 2010, we filed a lawsuit in the U.S. District Court for the Southern District of Indiana against Teva, APP and two other defendants seeking rulings that the U.S. vitamin regimen patent is valid and infringed (the Teva/APP litigation). A trial occurred in August 2013; the sole issue before the district court at that time was to determine patent validity. In March 2014, the court ruled that the asserted claims of the vitamin regimen patent are valid. The U.S. District Court for the Southern District of Indiana held a hearing on the issue of infringement in May 2015. In September 2015, the district court ruled that the vitamin regimen patent would be infringed by the generic challengers' proposed products. Teva and APP appealed all of the district court’s substantive decisions. The U.S. Court of Appeals for the Federal Circuit has scheduled a hearing for September 2016. From 2012 through 2016, we filed similar lawsuits against other ANDA defendants seeking a ruling that our patents are valid and infringed. Some of these cases have been stayed pending the outcome of the Teva/APP litigation, and these parties have agreed to be bound by the outcome of the Teva/APP litigation. In February 2016, we filed a lawsuit alleging infringement against Dr. Reddy's Laboratories in response to its recently filed NDA for a salt form of pemetrexed product diluted in dextrose solution. Any remaining cases have been administratively closed. In June 2016, the United States Patent and Trademark Office (USPTO) granted petitions by Neptune Generics, LLC and Sandoz Inc. seeking inter partes review (IPR) of our vitamin regimen patent. The final written IPR decisions are expected in mid-2017. Seven additional generic companies have filed petitions, seeking to join in these proceedings. European Patent Litigation and Administrative Proceedings Generic manufacturers filed an opposition to the European Patent Office's (EPO) decision to grant us a vitamin regimen patent. The Opposition Division of the EPO upheld the patent and the generic manufacturers lodged an appeal. In October 2015 the generic manufacturers withdrew the appeal. As a result, the original EPO decision upholding the patent is now final. In addition, in the United Kingdom (U.K.), Actavis Group ehf and other Actavis companies (collectively, Actavis) filed litigation asking for a declaratory judgment that commercialization of certain salt forms of pemetrexed (the active ingredient in Alimta) diluted in saline solution would not infringe the vitamin regimen patents for Alimta in the U.K., Italy, France, and Spain. In May 2014, the trial court ruled that the vitamin regimen patents for Alimta would not be infringed by commercialization of alternative salt forms of pemetrexed, after expiration of the compound patents in December 2015. We appealed, and in June 2015, the U.K. Court of Appeal reversed the trial court's decision granting declarations of non-infringement over the Alimta vitamin regimen patents in those countries, ruling that the Alimta vitamin regimen patent would be indirectly infringed by commercialization of Actavis' products as proposed prior to the patent's expiration in June 2021. In February 2016, the U.K. Supreme Court granted our and Actavis' requests for permission to appeal different aspects of the judgment. A hearing is scheduled for April 2017. In parallel proceedings, Actavis returned to the lower court seeking a declaration of non-infringement for a different proposed product diluted in dextrose solution. In February 2016, the trial court ruled that Actavis’ commercialization of this product would not infringe the patent in the U.K., Italy, France, and Spain. We intend to appeal this ruling. We commenced separate infringement proceedings against certain Actavis companies in Germany. Following a trial, in April 2014, the German trial court ruled in our favor. The defendants appealed, and after a hearing in March 2015, the German Court of Appeal overturned the trial court and ruled that our vitamin regimen patent in Germany would not be infringed by a dipotassium salt form of pemetrexed. In June 2016, the German Federal Supreme Court granted our appeal, vacating the prior decision denying infringement, and returned the case to the Court of Appeal to reconsider infringement based on its judgment. In separate proceedings, in May 2016 and June 2016, the German courts confirmed preliminary injunctions against Hexal AG (Hexal), which had stated its intention to launch a generic disodium salt product diluted in saline solution in Germany, and ratiopharm GmbH, a subsidiary of Teva, which had stated its intention to launch a proposed alternative salt form of pemetrexed product diluted in dextrose solution. Hexal has separately filed a challenge to the validity of our vitamin regimen patent before the German Federal Patent court. We do not anticipate any generic entry into the German market at least until the Court of Appeal proceedings against Actavis considers the issues remanded by the German Federal Supreme Court or the injunctions are lifted. We are aware that at least one generic pemetrexed product has launched in a major European market. Japanese Administrative Proceedings Three separate demands for invalidation of our two vitamin regimen patents, involving several companies, have been filed with the Japanese Patent Office (JPO). In November 2015, the JPO issued written decisions in the invalidation trial initiated by Sawai Pharmaceutical Co., Ltd. (Sawai), which had been joined by three other companies, upholding both vitamin regimen patents. These patents provide intellectual property protection for Alimta until June 2021. Three companies, including Sawai, have filed appeals. The invalidation trials related to the other demands by Sawai are currently suspended. Notwithstanding our patents, generic versions of Alimta were approved in Japan in February 2016. We filed for preliminary injunctions against the three generic competitors which received such approval, but we withdrew the requests for injunctions once those competitors agreed not to proceed to pricing approval. We do not anticipate generic competitors to proceed to launch prior to the completion of the Sawai invalidation trial. Effient Patent Litigation and Administrative Proceedings We, along with Daiichi Sankyo, Daiichi Sankyo, Inc., and Ube Industries (Ube) are engaged in U.S. patent litigation involving Effient brought pursuant to procedures set out in the Hatch-Waxman Act. More than 10 different companies have submitted ANDAs seeking approval to market generic versions of Effient prior to the expiration of Daiichi Sankyo’s and Ube’s patents (expiring in 2023) covering methods of using Effient with aspirin, and alleging the patents are invalid. One of these ANDAs also alleges that the compound patent for Effient (expiring in April 2017 plus pediatric exclusivity for an additional six months) is invalid. Beginning in March 2014, we filed lawsuits in the U.S. District Court for the Southern District of Indiana against these companies, seeking a ruling that the patents are valid and infringed. These cases have been consolidated. Four generic companies have agreed to be bound by the outcome of the consolidated case. In 2015, several generic pharmaceutical companies filed petitions with the USPTO, requesting IPR of the method patents. In September 2015, the USPTO granted the generic pharmaceutical companies' request. A hearing was held in May 2016, and a written decision is expected in the third quarter of 2016. In light of these petitions, the district court in the consolidated lawsuit stayed the case with respect to all parties. We believe the Effient patents are valid and enforceable against these generic manufacturers. However, it is not possible to determine the outcome of the proceedings, and accordingly, we can provide no assurance that we will prevail. We expect a loss of exclusivity for Effient would result in a rapid and severe decline in future revenues for the product in the relevant market. Actos^® Product Liability Litigation We have been named along with Takeda Chemical Industries, Ltd., and Takeda affiliates (collectively, Takeda) as a defendant in approximately 6,500 product liability cases in the U.S. related to the diabetes medication Actos, which we co-promoted with Takeda in the U.S. from 1999 until 2006. In general, plaintiffs in these actions allege that Actos caused or contributed to their bladder cancer. Almost all of the active cases have been consolidated in federal multi-district litigation (MDL) in the Western District of Louisiana or are pending in a coordinated state court proceeding in California or a coordinated state court proceeding in Illinois. In April 2015, Takeda announced they would pay approximately $2.4 billion to resolve the vast majority of the U.S. product liability lawsuits involving Actos, including the case of Allen, et al. v. Takeda Pharmaceuticals, et al., no. 6:12-md-00064, in which a judgment of approximately $28 million was entered against Takeda and a judgment of approximately $9 million was entered against us. In September 2015, Takeda announced that more than 96 percent of eligible claimants had opted into the resolution program that was announced in April 2015. As a result of the resolution program, the Allen case has been fully resolved. Accordingly, the appeals filed by Allen, Takeda, and us in the U.S. Court of Appeals for the Fifth Circuit have been dismissed with prejudice. Although most U.S. product liability lawsuits involving Actos are included in the resolution program, there may be additional cases pending against Takeda and us following its completion. Our agreement with Takeda calls for Takeda to defend and indemnify us against our losses and expenses with respect to the U.S. litigation arising out of the manufacture, use, or sale of Actos and other related expenses in accordance with the terms of the agreement. We believe we are entitled to full indemnification of our losses and expenses in these cases; however, there can be no guarantee we will ultimately be successful in obtaining full indemnification. We are also named along with Takeda as a defendant in four purported product liability class actions in Canada related to Actos, including two in Ontario (Casseres et al. v. Takeda Pharmaceutical North America, Inc., et al. and Carrier et al. v. Eli Lilly et al.), one in Quebec (Whyte et al. v. Eli Lilly et al.), and one in Alberta (Epp v. Takeda Canada et al.). We promoted Actos in Canada until 2009. We believe these lawsuits are without merit, and we and Takeda are prepared to defend against them vigorously. Byetta^® Product Liability Litigation We are named as a defendant in approximately 510 Byetta product liability lawsuits in the U.S. involving approximately 890 plaintiffs. Approximately 90 of these lawsuits, covering about 470 plaintiffs, are filed in California state court and coordinated in a Los Angeles Superior Court. Approximately 415 lawsuits, covering about 415 plaintiffs, are filed in federal court, the majority of which are coordinated in a multi-district litigation in the U.S. District Court for the Southern District of California. The remaining approximately five lawsuits, representing about five plaintiffs, are in various state courts. Approximately 465 of the lawsuits, involving approximately 700 plaintiffs, contain allegations that Byetta caused or contributed to the plaintiffs' cancer (primarily pancreatic cancer or thyroid cancer). The federal and state trial courts granted summary judgment in favor of us and co-defendants on the claims alleging pancreatic cancer; those rulings are being appealed by the plaintiffs. We are aware of approximately 10 additional claimants who have not yet filed suit. These additional claims allege damages for pancreatic cancer or thyroid cancer. We believe these lawsuits and claims are without merit and are prepared to defend against them vigorously. Cymbalta^® Product Liability Litigation In October 2012, we were named as a defendant in a purported class-action lawsuit in the U.S. District Court for the Central District of California (Saavedra et al v. Eli Lilly and Company) involving Cymbalta. The plaintiffs, purporting to represent a class of all persons within the U.S. who purchased and/or paid for Cymbalta, asserted claims under the consumer protection statutes of four states, California, Massachusetts, Missouri, and New York, and sought declaratory, injunctive, and monetary relief for various alleged economic injuries arising from discontinuing treatment with Cymbalta. In December 2014, the district court denied the plaintiffs' motion for class certification. Plaintiffs filed a petition with the U.S. Court of Appeals for the Ninth Circuit requesting permission to file an interlocutory appeal of the denial of class certification, which was denied. Plaintiffs filed a second motion for certification under the consumer protection acts of New York and Massachusetts. The district court denied that motion for class certification in July 2015. The district court dismissed the suit and plaintiffs are appealing to the U.S. Court of Appeals for the Ninth Circuit. Additionally, we have been named in approximately 140 lawsuits involving approximately 1,470 plaintiffs filed in various federal and state courts alleging injuries arising from discontinuation of treatment with Cymbalta. Counsel for plaintiffs in the federal court proceedings filed a petition seeking to have then-filed cases and an unspecified number of future cases coordinated into a federal MDL in the U.S. District Court for the Central District of California. In December 2014, the Judicial Panel on Multidistrict Litigation (JPML) denied the plaintiffs' petition for creation of an MDL. Plaintiffs’ counsel subsequently filed a second petition seeking MDL consolidation, which petition was denied by the JPML in October 2015. There have been approximately 40 individual and multi-plaintiff cases filed in California state court. Most of those cases have been centralized in a California Judicial Counsel Coordination Proceeding pending in Los Angeles. The first individual product liability cases were tried in August 2015 and resulted in defense verdicts against four plaintiffs. The plaintiff in one of those cases is appealing the verdict. The other plaintiffs in those cases will not be appealing the judgment. We believe these lawsuits and claims are without merit and are prepared to defend against them vigorously. Prozac^® Product Liability Litigation We are named as a defendant in approximately five U.S. lawsuits primarily related to allegations that the antidepressant Prozac caused or contributed to birth defects in the children of women who ingested the drug during pregnancy. We are aware of approximately 400 additional claims related to birth defects, which have not yet been filed. We believe these lawsuits and claims are without merit and are prepared to defend against them vigorously. Brazil–Employee Litigation Our subsidiary in Brazil, Eli Lilly do Brasil Limitada (Lilly Brasil), is named in a lawsuit brought by the Labor Attorney for 15th Region in the Labor Court of Paulinia, State of Sao Paulo, Brazil, alleging possible harm to employees and former employees caused by exposure to heavy metals at a former Lilly manufacturing facility in Cosmopolis, Brazil, operated by the company between 1977 and 2003. The plaintiffs allege that some employees at the facility were exposed to benzene and heavy metals; however, Lilly Brasil maintains that these alleged contaminants were never used in the facility. In May 2014, the labor court judge ruled against Lilly Brasil. The judge's ruling orders Lilly Brasil to undertake several actions of unspecified financial impact, including paying lifetime medical insurance for the employees and contractors who worked at the Cosmopolis facility more than six months during the affected years and their children born during and after this period. We cannot currently estimate the range of reasonably possible financial losses that could arise if we do not ultimately prevail in the litigation. The judge has estimated the total financial impact of the ruling to be approximately 1.0 billion Brazilian real (approximately $310 million as of June 30, 2016) plus interest. We strongly disagree with the decision and filed an appeal in May 2014. We are also named in approximately 30 lawsuits filed in labor courts by individual former employees making similar claims. We believe these lawsuits are without merit and are prepared to defend against them vigorously. Product Liability Insurance Because of the nature of pharmaceutical products, it is possible that we could become subject to large numbers of product liability and related claims in the future. Due to a very restrictive market for product liability insurance, we are self-insured for product liability losses for all our currently marketed products.

Other Comprehensive Income (Loss) Other Comprehensive Income (Loss) (Notes)

6 Months Ended

Jun. 30, 2016

Comprehensive Income (Loss) Note [Text Block]

Note 11: Other Comprehensive Income (Loss)

The following tables summarize the activity related to each component of other comprehensive income (loss) during the three months ended June 30, 2016 and 2015:



(Amounts presented net of taxes)	Foreign Currency Translation Gains (Losses)			Unrealized Net Gains (Losses) on Securities		Defined Benefit Pension and Retiree Health Benefit Plans			Effective Portion of Cash Flow Hedges			Accumulated Other Comprehensive Loss
Balance at April 1, 2016	$	(1,085.4	)	$	17.9	$	(2,981.1	)	$	(216.1	)	$	(4,264.7	)

Other comprehensive income (loss) before reclassifications	(187.6		)	8.8		24.6			(2.2		)	(156.4		)
Net amount reclassified from accumulated other comprehensive loss	—			10.1		37.4			2.4			49.9
Net other comprehensive income (loss)	(187.6		)	18.9		62.0			0.2			(106.5		)

Balance at June 30, 2016	$	(1,273.0	)	$	36.8	$	(2,919.1	)	$	(215.9	)	$	(4,371.2	)



(Amounts presented net of taxes)	Foreign Currency Translation Gains (Losses)			Unrealized Net Gains (Losses) on Securities			Defined Benefit Pension and Retiree Health Benefit Plans			Effective Portion of Cash Flow Hedges			Accumulated Other Comprehensive Loss
Balance at April 1, 2015	$	(1,294.4	)	$	155.6		$	(3,293.1	)	$	(225.6	)	$	(4,657.5	)

Other comprehensive income (loss) before reclassifications	256.8			(8.7		)	(24.6		)	—			223.5
Net amount reclassified from accumulated other comprehensive loss	—			(25.9		)	54.4			2.3			30.8
Net other comprehensive income (loss)	256.8			(34.6		)	29.8			2.3			254.3

Balance at June 30, 2015	$	(1,037.6	)	$	121.0		$	(3,263.3	)	$	(223.3	)	$	(4,403.2	)

The following tables summarize the activity related to each component of other comprehensive income (loss) during the six months ended June 30, 2016 and 2015:



(Amounts presented net of taxes)	Foreign Currency Translation Gains (Losses)			Unrealized Net Gains (Losses) on Securities		Defined Benefit Pension and Retiree Health Benefit Plans			Effective Portion of Cash Flow Hedges			Accumulated Other Comprehensive Loss
Balance at January 1, 2016	$	(1,360.2	)	$	10.1	$	(3,012.1	)	$	(218.5	)	$	(4,580.7	)

Other comprehensive income (loss) before reclassifications	12.7			13.0		20.5			(2.2		)	44.0
Net amount reclassified from accumulated other comprehensive loss	74.5			13.7		72.5			4.8			165.5
Net other comprehensive income (loss)	87.2			26.7		93.0			2.6			209.5

Balance at June 30, 2016	$	(1,273.0	)	$	36.8	$	(2,919.1	)	$	(215.9	)	$	(4,371.2	)



(Amounts presented net of taxes)	Foreign Currency Translation Gains (Losses)			Unrealized Net Gains (Losses) on Securities			Defined Benefit Pension and Retiree Health Benefit Plans			Effective Portion of Cash Flow Hedges			Accumulated Other Comprehensive Loss
Balance at January 1, 2015	$	(498.4	)	$	99.7		$	(3,402.0	)	$	(191.1	)	$	(3,991.8	)

Other comprehensive income (loss) before reclassifications	(539.2		)	59.1			30.6			(36.9		)	(486.4		)
Net amount reclassified from accumulated other comprehensive loss	—			(37.8		)	108.1			4.7			75.0
Net other comprehensive income (loss)	(539.2		)	21.3			138.7			(32.2		)	(411.4		)

Balance at June 30, 2015	$	(1,037.6	)	$	121.0		$	(3,263.3	)	$	(223.3	)	$	(4,403.2	)

The tax effects on the net activity related to each component of other comprehensive income (loss) were as follows:



	Three Months Ended June 30,						Six Months Ended June 30,
Tax benefit (expense)	2016			2015			2016			2015
Foreign currency translation gains (losses)	$	(26.0	)	$	11.8		$	1.7		$	11.8
Unrealized net gains (losses) on securities	(10.2		)	18.6			(14.4		)	(11.4		)
Defined benefit pension and retiree health benefit plans	(21.8		)	(20.3		)	(47.5		)	(62.8		)
Effective portion of cash flow hedges	(0.1		)	(1.3		)	(1.4		)	17.2
Provision for income taxes allocated to other comprehensive income (loss) items	$	(58.1	)	$	8.8		$	(61.6	)	$	(45.2	)

Except for the tax effects of foreign currency translation gains and losses related to our foreign currency-denominated notes, cross-currency interest rate swaps, and other foreign currency exchange contracts designated as net investment hedges (see Note 6), income taxes were not provided for foreign currency translation. Generally, the assets and liabilities of foreign operations are translated into U.S. dollars using the current exchange rate. For those operations, changes in exchange rates generally do not affect cash flows; therefore, resulting translation adjustments are made in shareholders' equity rather than in the consolidated condensed statements of operations.

Reclassifications out of accumulated other comprehensive loss were as follows:



	Reclassifications Out of Accumulated Other Comprehensive Loss
Details about Accumulated Other Comprehensive Loss Components	Three Months Ended June 30,						Six Months Ended June 30,						Affected Line Item in the Consolidated Condensed Statements of Operations
	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016			2015
Amortization of retirement benefit items:
Prior service benefits, net	$	(21.7	)	$	(19.0	)	$	(37.1	)	$	(38.1	)	⁽¹⁾
Actuarial losses	79.2			100.4			152.7			202.2			⁽¹⁾
Total before tax	57.5			81.4			115.6			164.1
Tax benefit	(20.1		)	(27.0		)	(43.1		)	(56.0		)	Income taxes
Net of tax	37.4			54.4			72.5			108.1

Unrealized gains/losses on available-for-sale securities:
Realized (gains) losses, net before tax	(0.3		)	(46.1		)	5.2			(64.4		)	Other–net, (income) expense
Impairment losses	15.9			6.2			15.9			6.2			Other–net, (income) expense
Total before tax	15.6			(39.9		)	21.1			(58.2		)
Tax (benefit) expense	(5.5		)	14.0			(7.4		)	20.4			Income taxes
Net of tax	10.1			(25.9		)	13.7			(37.8		)
Other, net of tax ⁽²⁾	2.4			2.3			79.3			4.7			Other–net, (income) expense
Total reclassifications for the period (net of tax)	$	49.9		$	30.8		$	165.5		$	75.0

⁽¹⁾ These accumulated other comprehensive loss components are included in the computation of net periodic benefit (income) cost (see Note 9).

⁽²⁾ Amount for the six months ended June 30, 2016 included primarily $74.5 million of foreign currency translation losses.

- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

+ References

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+ Details

Other-Net, (Income) Expense

6 Months Ended

Jun. 30, 2016

Nonoperating Income (Expense) [Abstract]

Other - Net, Expense (Income) [Text Block]

Note 12: Other–Net, (Income) Expense

Other–net, (income) expense consisted of the following:



	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016			2015
Interest expense	$	43.2		$	36.8		$	86.6		$	77.7
Interest income	(23.5		)	(20.6		)	(47.7		)	(42.0		)
Venezuela charge	—			—			203.9			—
Debt extinguishment loss (Note 6)	—			166.7			—			166.7
Other income	(40.9		)	(59.6		)	(115.0		)	(171.8		)
Other–net, (income) expense	$	(21.2	)	$	123.3		$	127.8		$	30.6

Due to the financial crisis in Venezuela and the significant deterioration of the bolívar, we changed the exchange rate used to translate the assets and liabilities of our subsidiaries in Venezuela which resulted in a first quarter of 2016 charge of $203.9 million. Prior to this change, we used the Supplementary Foreign Currency Administration System (SICAD) rate; however, this official rate was discontinued in the first quarter of 2016. After considering several factors, including the future uncertainty of the Venezuelan economy, published exchange rates, and the limited amount of foreign currency exchanged, we changed to the Divisa Complementaria (DICOM) rate.

Segment Information

6 Months Ended

Jun. 30, 2016

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

Note 13: Segment Information

We have two operating segments—human pharmaceutical products and animal health. Our operating segments are distinguished by the ultimate end user of the product—humans or animals. Performance is evaluated based on profit or loss from operations before income taxes.



	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Segment revenue—to unaffiliated customers:
Human pharmaceutical products:
Endocrinology:
Humalog^®	$	701.9	$	654.3	$	1,308.2	$	1,338.2
Humulin^®	332.3		316.4		688.7		632.1
Forteo^®	367.6		328.4		686.3		621.4
Trulicity^®	201.3		44.3		344.9		62.6
Trajenta	121.0		80.0		215.4		162.4
Other Endocrinology	234.3		214.5		471.6		447.5
Total Endocrinology	1,958.4		1,637.9		3,715.1		3,264.2

Oncology:
Alimta	607.1		664.3		1,171.3		1,237.4
Erbitux	180.6		134.6		348.6		222.8
Cyramza^®	147.0		87.7		278.0		155.2
Other Oncology	35.8		36.0		67.1		66.2
Total Oncology	970.5		922.6		1,865.0		1,681.6

Cardiovascular:
Cialis^®	630.5		567.9		1,207.2		1,106.2
Effient	135.1		128.8		266.6		250.6
Other Cardiovascular	61.7		66.5		107.6		121.6
Total Cardiovascular	827.3		763.2		1,581.4		1,478.4

Neuroscience:
Cymbalta	236.5		274.1		435.2		561.1
Zyprexa^®	210.7		253.7		423.4		473.2
Strattera^®	224.6		191.8		412.7		365.5
Other Neuroscience	45.9		44.3		90.0		89.4
Total Neuroscience	717.7		763.9		1,361.3		1,489.2

Other pharmaceuticals	71.1		50.3		132.7		119.5
Total human pharmaceutical products	4,545.0		4,137.9		8,655.5		8,032.9
Animal health	859.8		840.8		1,614.4		1,590.5
Revenue	$	5,404.8	$	4,978.7	$	10,269.9	$	9,623.4



	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016			2015
Segment profits:
Human pharmaceutical products	$	959.4		$	1,016.8		$	1,886.3		$	2,099.9
Animal health	211.7			188.3			359.4			303.3
Total segment profits	$	1,171.1		$	1,205.1		$	2,245.7		$	2,403.2

Reconciliation of total segment profits to consolidated income before taxes:
Segment profits	$	1,171.1		$	1,205.1		$	2,245.7		$	2,403.2
Other profits (losses):
Acquired in-process research and development (Note 3)	—			(80.0		)	—			(336.0		)
Amortization of intangible assets	(168.6		)	(151.9		)	(341.1		)	(304.6		)
Asset impairment, restructuring, and other special charges (Note 5)	(58.0		)	(72.4		)	(189.4		)	(180.4		)
Venezuela charge (Note 12)	—			—			(203.9		)	—
Debt repurchase charges, net ⁽¹⁾ (Note 6)	—			(152.7		)	—			(152.7		)
Inventory fair value adjustment related to Novartis AH (Note 3)	—			(68.4		)	—			(131.9		)
Consolidated income before taxes	$	944.5		$	679.7		$	1,511.3		$	1,297.6

⁽¹⁾ We recognized pretax net charges of $152.7 million for the three and six months ended June 30, 2015, attributable to the debt extinguishment loss of $166.7 million from the purchase and redemption of certain fixed-rate notes, partially offset by net gains from non-hedging interest rate swaps and foreign currency transactions associated with the related issuance of euro-denominated notes.

For internal management reporting presented to the chief operating decision maker, certain costs are fully allocated to our human pharmaceutical products segment and therefore are not reflected in the animal health segment's profit. Such items include costs associated with treasury-related financing, global administrative services, certain acquisition-related transaction costs, and certain manufacturing costs.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Financial Instruments (Policies)	6 Months Ended
Financial Instruments (Policies)	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Description of Derivative Risk Management Policy	Our derivative activities are initiated within the guidelines of documented corporate risk-management policies and offset losses and gains on the assets, liabilities, and transactions being hedged. Management reviews the correlation and effectiveness of our derivatives on a quarterly basis. For derivative instruments that are designated and qualify as fair value hedges, the derivative instrument is marked to market with gains and losses recognized currently in income to offset the respective losses and gains recognized on the underlying exposure. For derivative instruments that are designated and qualify as cash flow hedges, the effective portion of gains and losses is reported as a component of accumulated other comprehensive loss and reclassified into earnings in the same period the hedged transaction affects earnings. For derivative and non-derivative instruments that are designated and qualify as net investment hedges, the effective portion of foreign currency translation gains or losses due to spot rate fluctuations are reported as a component of accumulated other comprehensive loss. Hedge ineffectiveness is immediately recognized in earnings. Derivative contracts that are not designated as hedging instruments are recorded at fair value with the gain or loss recognized in current earnings during the period of change. We may enter into foreign currency forward or option contracts to reduce the effect of fluctuating currency exchange rates (principally the euro, the British pound, Japanese yen, and the Swiss franc). Foreign currency derivatives used for hedging are put in place using the same or like currencies and duration as the underlying exposures. Forward and option contracts are principally used to manage exposures arising from subsidiary trade and loan payables and receivables denominated in foreign currencies. These contracts are recorded at fair value with the gain or loss recognized in other–net, (income) expense. We may enter into foreign currency forward and option contracts and currency swaps as fair value hedges of firm commitments. Forward contracts generally have maturities not exceeding 12 months.

Implementation of New Financial Accounting Pronouncements Implementation of New Accounting Pronouncements (Tables)

6 Months Ended

Jun. 30, 2016

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]

The following table provides a brief description of accounting standards that have not yet been adopted and could have a material effect on our financial statements:



Standard	Description	Effective Date	Effect on the financial statements or other significant matters
Accounting Standards Update 2016-01, Financial Instruments - Overall: Recognition and Measurement of Financial Assets and Financial Liabilities	This standard will require entities to recognize changes in the fair value of equity investments with readily determinable fair values in net income (except for investments accounted for under the equity method of accounting or those that result in consolidation of the investee). An entity should apply the new standard through a cumulative effect adjustment to retained earnings as of the beginning of the fiscal year of adoption.	This standard is effective January 1, 2018. Early adoption of the majority of the amendments in this standard is not permitted, however, early application of certain amendments is permitted. We intend to fully adopt this standard on January 1, 2018.	We are unable to estimate the impact of adopting this standard as the significance of the impact will depend upon our equity investments as of the date of adoption.
Accounting Standards Update 2016-02, Leases	This standard was issued to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities, including leases classified as operating leases under current GAAP, on the balance sheet and requiring additional disclosures about leasing arrangements. This standard requires a modified retrospective approach to adoption.	This standard is effective January 1, 2019, with early adoption permitted. We intend to adopt this standard on January 1, 2019.	We are in the process of determining our approach to adopting the standard, as well as the anticipated impact on our consolidated financial statements.
Accounting Standards Update 2016-09, Compensation - Stock Compensation: Improvements to Employee Share-Based Payment Accounting	This standard will require entities to recognize all excess tax benefits and tax deficiencies in the statement of operations as a discrete item in the reporting period in which they occur. The standard also allows an employer to withhold up to the maximum statutory tax rate and still qualify for equity classification. Classification of excess tax benefits on the statement of cash flows should be classified as an operating activity, and employee taxes paid when an employer withholds shares for tax-withholding purposes should be classified as a financing activity. The provisions that affect the statement of operations will be effective prospectively in the year of adoption and the provisions that affect the statement of cash flows will be effective retrospectively.	This standard is effective January 1, 2017. Early adoption is permitted. We are evaluating our anticipated date of adoption.	We do not believe the impact of adopting this standard will have a material impact on our consolidated financial statements. We cannot predict the impact on our consolidated financial statements in future reporting periods following adoption as this will be dependent upon various factors including the number of shares issued and changes in the price of our stock between the grant date and settlement date.

- 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
-Glossary Direct Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=66092750

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Indirect Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6515603

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
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-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=68064558&loc=d3e765-108305

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Accounting Change
-URI http://asc.fasb.org/extlink&oid=6503790

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
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-Paragraph 1
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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-URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22583-107794

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6507316

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
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-Publisher FASB
-Name Accounting Standards Codification
-Glossary Retrospective Application
-URI http://asc.fasb.org/extlink&oid=6523989

+ Details

Acquisitions Acquistions (Tables)

6 Months Ended

Jun. 30, 2016

Business Acquisition [Line Items]

Schedule of Research and Development Assets Acquired Other than Through Business Combination [Table Text Block]



Counterparty	Compound(s) or Therapy	Acquisition Month	Phase of Development ⁽¹⁾	Acquired IPR&D Expense
Innovent Biologics, Inc. (Innovent)	Monoclonal antibody targeting protein CD-20 Immuno-oncology molecules cMet monoclonal antibody	March 2015	Pre-clinical ⁽²⁾	$	56.0
Hanmi Pharmaceutical Co., Ltd. (Hanmi)	BTK Inhibitor - HM71224	April 2015	Phase I	50.0
BioNTech AG (BioNTech)	Cancer immunotherapies	May 2015	Pre-clinical	30.0

⁽¹⁾ The phase of development presented is as of the date of the arrangement.

⁽²⁾ Prior to acquisition, Innovent's monoclonal antibody targeting protein CD-20 had received investigational new drug approval in China to begin Phase I development.

Novartis Animal Health [Member]

Business Acquisition [Line Items]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

The following table summarizes the amounts recognized for assets acquired and liabilities assumed as of the acquisition date:



Estimated Fair Value at January 1, 2015
Inventories	$	380.2
Acquired in-process research and development	298.0
Marketed products ⁽¹⁾	1,953.0
Property and equipment	199.9
Assets held for sale (primarily the U.S. Sentinel rights)	422.7
Accrued retirement benefits	(108.7		)
Deferred income taxes	(60.1		)
Other assets and liabilities - net	(73.0		)
Total identifiable net assets	3,012.0
Goodwill ⁽²⁾	2,271.1
Total consideration transferred - net of cash acquired	$	5,283.1

Collaborations and Other Arrangements (Tables)

6 Months Ended

Jun. 30, 2016

Diabetes Collaboration [Member]

Schedule of Collaborative Arrangements and Non-collaborative Arrangement Transactions [Table Text Block]

The table below summarizes significant regulatory and commercialization events and milestones (received) paid for the compounds included in this collaboration:



	Product Status			Milestones (Deferred) Capitalized ⁽¹⁾
Product Family	U.S.	Europe	Japan	Year	Amount
Trajenta ⁽²⁾	Launched 2011	Launched 2011	Launched 2011	2016	$	—
				2015	—
				Cumulative ⁽⁵⁾	446.4
Jardiance ⁽³⁾	Launched 2014	Launched 2014	Launched 2015	2016	—
				2015	—
				Cumulative ⁽⁵⁾	299.5
Basaglar	Approved ⁽⁴⁾	Launched 2015	Launched 2015	2016	(187.5		)
				2015	—
				Cumulative ⁽⁵⁾	(250.0		)

⁽²⁾ Jentadueto is included in the Trajenta family of product results.

⁽³⁾ Glyxambi and Synjardyare included in the Jardiance family of product results.

⁽⁵⁾ The cumulative amount represents the total amounts as of the end of the reporting period that have been (deferred) or capitalized since the start of this collaboration.

Bi Compounds [Member]

Schedule of Collaborative Arrangements and Non-collaborative Arrangement Transactions [Table Text Block]

The following table summarizes our collaboration and other revenue recognized with respect to the Trajenta and Jardiance families of products:



	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Trajenta	$	121.0	$	80.0	$	215.4	$	162.4
Jardiance	40.1		11.1		78.3		30.3

Erbitux [Member]

Schedule of Collaborative Arrangements and Non-collaborative Arrangement Transactions [Table Text Block]

The following table summarizes our revenue recognized with respect to Erbitux:



	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Net product revenues - BMS	$	—	$	11.0	$	—	$	24.8
Net product revenues - third party	158.4		—		299.9		—
Collaboration and other revenue	22.2		123.6		48.7		198.0
Revenue	$	180.6	$	134.6	$	348.6	$	222.8

Effient [Member]

Schedule of Collaborative Arrangements and Non-collaborative Arrangement Transactions [Table Text Block]

The following table summarizes our revenue recognized with respect to Effient:



	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Revenue	$	135.1	$	128.8	$	266.6	$	250.6

Selling, General and Administrative Expenses [Member]

Schedule of Collaborative Arrangements and Non-collaborative Arrangement Transactions [Table Text Block]



	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Marketing, selling, and administrative	$	47.3	$	53.5	$	96.3	$	102.8

Collaborative Arrangement [Member]

Schedule of Collaborative Arrangements and Non-collaborative Arrangement Transactions [Table Text Block]

The following table summarizes our collaboration and other revenue, which is included in revenue in the consolidated condensed statements of operations:



	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Collaboration and other revenue	$	208.5	$	233.4	$	390.8	$	429.5

Erbitux Acquisition [Member]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

The following table summarizes the amounts recognized for assets acquired and liabilities assumed as of the acquisition date:



Estimated Fair Value at October 1, 2015
Marketed products ⁽¹⁾	$	602.1
Deferred tax asset	232.2
Deferred tax liability	(228.2		)
Other assets and liabilities - net	57.2
Total identifiable net assets	$	663.3
Total consideration - contingent consideration liability ⁽²⁾	$	(663.3	)

⁽²⁾See Note 6 for discussion on the estimation of the contingent consideration liability.

Asset Impairment, Restructuring, and Other Special Charges Asset Impairment, Restructuring, and Other Special Charges (Tables)

6 Months Ended

Jun. 30, 2016

Restructuring Cost and Reserve [Line Items]

Restructuring and Related Costs [Table Text Block]



	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Severance:
Human pharmaceutical	$	—	$	8.2	$	—	$	16.9
Animal health	19.2		13.9		28.7		36.3
Total severance	19.2		22.1		28.7		53.2
Asset impairment and other special charges:
Human pharmaceutical	—		17.2		—		17.2
Animal health	38.8		33.1		160.7		110.0
Total asset impairment and other special charges	38.8		50.3		160.7		127.2
Total asset impairment, restructuring, and other special charges	$	58.0	$	72.4	$	189.4	$	180.4

Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2016

Fair Value Disclosures [Abstract]

Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]

The following effects of risk-management instruments were recognized in other–net, (income) expense:



	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016			2015
Fair value hedges:
Effect from hedged fixed-rate debt	$	35.8		$	(99.2	)	$	111.1		$	(40.3	)
Effect from interest rate contracts	(35.8		)	99.2			(111.1		)	40.3
Cash flow hedges:
Effective portion of losses on interest rate contracts reclassified from accumulated other comprehensive loss	3.7			3.6			7.4			6.3
Net (gains) losses on foreign currency exchange contracts not designated as hedging instruments	90.9			(1.2		)	104.2			22.1

Fair Value, Assets Measured on Recurring Basis [Table Text Block]



					Fair Value Measurements Using
	Carrying Amount		Cost ⁽¹⁾		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value
June 30, 2016
Cash equivalents	$	1,615.3	$	1,615.3	$	1,612.3	$	3.0	$	—	$	1,615.3

Short-term investments:
U.S. government and agency securities	$	66.3	$	66.3	$	66.3	$	—	$	—	$	66.3
Corporate debt securities	624.4		623.7		—		624.4		—		624.4
Asset-backed securities	3.4		3.4		—		3.4		—		3.4
Other securities	2.7		2.7		—		2.7		—		2.7
Short-term investments	$	696.8

Noncurrent investments:
U.S. government and agency securities	$	465.6	$	461.3	$	465.6	$	—	$	—	$	465.6
Corporate debt securities	2,545.7		2,529.6		—		2,545.7		—		2,545.7
Mortgage-backed securities	197.2		194.8		—		197.2		—		197.2
Asset-backed securities	455.5		454.4		—		455.5		—		455.5
Other securities	155.7		105.5		12.5		7.1		136.1		155.7
Marketable equity securities	95.9		64.0		95.9		—		—		95.9
Cost and equity method investments ⁽²⁾	533.6
Noncurrent investments	$	4,449.2

December 31, 2015
Cash equivalents	$	1,644.4	$	1,644.4	$	1,637.0	$	7.4	$	—	$	1,644.4

Short-term investments:
U.S. government and agency securities	$	153.2	$	153.4	$	153.2	$	—	$	—	$	153.2
Corporate debt securities	625.8		626.9		—		625.8		—		625.8
Asset-backed securities	3.3		3.3		—		3.3		—		3.3
Other securities	3.1		3.1		—		3.1		—		3.1
Short-term investments	$	785.4

Noncurrent investments:
U.S. government and agency securities	$	284.5	$	286.0	$	283.5	$	1.0	$	—	$	284.5
Corporate debt securities	1,962.6		1,995.8		—		1,962.6		—		1,962.6
Mortgage-backed securities	153.3		154.7		—		153.3		—		153.3
Asset-backed securities	441.9		443.1		—		441.9		—		441.9
Other securities	137.1		97.3		—		4.1		133.0		137.1
Marketable equity securities	128.9		74.8		128.9		—		—		128.9
Cost and equity method investments ⁽²⁾	538.3
Noncurrent investments	$	3,646.6

⁽¹⁾ For available-for-sale debt securities, amounts disclosed represent the securities' amortized cost.

⁽²⁾ Fair value disclosures are not applicable for cost method and equity method investments.

Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]



				Fair Value Measurements Using
	Carrying Amount			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)		Fair Value
Long-term debt, including current portion
June 30, 2016	$	(9,331.3	)	$	—	$	(9,926.9	)	$	—	$	(9,926.9	)
December 31, 2015	(7,978.5		)	—		(8,172.0		)	—		(8,172.0		)

Fair Value, by Balance Sheet Grouping [Table Text Block]



				Fair Value Measurements Using
	Carrying Amount			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Fair Value
June 30, 2016
Risk-management instruments:
Interest rate contracts designated as fair value hedges:
Other receivables	$	9.9		$	—	$	9.9		$	—		$	9.9
Sundry	170.9			—		170.9			—			170.9
Cross-currency interest rate contracts designated as net investment hedges:
Sundry	5.9			—		5.9			—			5.9
Foreign exchange contracts not designated as hedging instruments:
Other receivables	20.3			—		20.3			—			20.3
Other current liabilities	(72.4		)	—		(72.4		)	—			(72.4		)
Contingent consideration liabilities ⁽¹⁾:
Other current liabilities	(246.6		)	—		—			(246.6		)	(246.6		)
Other noncurrent liabilities	(358.4		)	—		—			(358.4		)	(358.4		)

December 31, 2015
Risk-management instruments:
Interest rate contracts designated as fair value hedges:
Sundry	$	70.1		$	—	$	70.1		$	—		$	70.1
Other noncurrent liabilities	(0.4		)	—		(0.4		)	—			(0.4		)
Foreign exchange contracts not designated as hedging instruments:
Other receivables	13.1			—		13.1			—			13.1
Other current liabilities	(17.3		)	—		(17.3		)	—			(17.3		)
Contingent consideration liabilities ⁽¹⁾:
Other current liabilities	(243.7		)	—		—			(243.7		)	(243.7		)
Other noncurrent liabilities	(427.2		)	—		—			(427.2		)	(427.2		)

Available-for-sale Securities [Table Text Block]



	June 30, 2016		December 31, 2015
Unrealized gross gains	$	79.8	$	68.0
Unrealized gross losses	23.2		52.5
Fair value of securities in an unrealized gain position	3,550.8		764.5
Fair value of securities in an unrealized loss position	769.9		2,933.4

The table below summarizes the contractual maturities of our investments in debt securities measured at fair value as of June 30, 2016:



	Maturities by Period
	Total		Less Than 1 Year		2-5 Years		6-10 Years		More Than 10 Years
Fair value of debt securities	$	4,367.9	$	696.8	$	3,134.8	$	261.7	$	274.6

Gain (Loss) on Investments [Table Text Block]

Activity related to our investment portfolio, substantially all of which related to available-for-sale securities, was as follows:



	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Proceeds from sales	$	850.7	$	1,900.1	$	1,577.1	$	2,869.9
Realized gross gains on sales	3.4		47.8		5.2		102.3
Realized gross losses on sales	3.1		1.7		10.4		2.4

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block]

The effective portion of risk-management instruments that was recognized in other comprehensive income (loss) is as follows:



	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016			2015
Net investment hedges:
Foreign currency-denominated notes	$	34.8		$	(33.8	)	$	(43.0	)	$	(33.8	)
Cross-currency interest rate swaps	7.5			—			6.3			—
Foreign currency exchange contracts	31.9			—			31.9			—
Cash flow hedges:
Forward-starting interest rate swaps	(3.4		)	—			(3.4		)	(56.7		)

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References + Details

- Definition

Tabular disclosure of the realized and unrealized gains and losses reported in the statement of income which have resulted from the sale and holding of marketable securities, respectively, as well as the sale or disposal of cost method investments. Such amounts would include realized gains and losses on the sale or disposal of trading, available-for-sale, and held-to-maturity securities, unrealized gains and losses on trading securities, unrealized gains and losses on available-for-sale and held-to-maturity securities transferred to the trading securities category, realized gains and losses on the sale or disposal of cost method investments, and losses recognized for other than temporary impairments (OTTI) of such investments.

+ References + Details

Retirement Benefits (Tables)

6 Months Ended

Jun. 30, 2016

Pension Plans, Defined Benefit [Member]

Schedule of Net Benefit Costs [Table Text Block]

Net pension and retiree health benefit (income) cost included the following components:



	Defined Benefit Pension Plans
	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016			2015
Components of net periodic benefit cost:
Service cost	$	70.6		$	85.5		$	142.0		$	162.5
Interest cost	105.1			117.2			210.2			234.3
Expected return on plan assets	(189.6		)	(192.2		)	(379.1		)	(384.0		)
Amortization of prior service (benefit) cost	(0.2		)	2.6			5.7			5.1
Recognized actuarial loss	74.0			90.9			142.4			183.3
Net periodic benefit cost	$	59.9		$	104.0		$	121.2		$	201.2

Other Postretirement Benefit Plans, Defined Benefit [Member]

Schedule of Net Benefit Costs [Table Text Block]



	Retiree Health Benefit Plans
	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016			2015
Components of net periodic benefit income:
Service cost	$	10.3		$	11.2		$	19.6		$	21.0
Interest cost	13.2			15.3			26.0			30.7
Expected return on plan assets	(37.6		)	(37.1		)	(75.1		)	(74.2		)
Amortization of prior service benefit	(21.5		)	(21.6		)	(42.8		)	(43.2		)
Recognized actuarial loss	5.2			9.5			10.3			18.9
Net periodic benefit income	$	(30.4	)	$	(22.7	)	$	(62.0	)	$	(46.8	)

Other Comprehensive Income (Loss) Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Jun. 30, 2016

Accumulated Other Comprehensive Income (Loss) [Line Items]

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

The tax effects on the net activity related to each component of other comprehensive income (loss) were as follows:



	Three Months Ended June 30,						Six Months Ended June 30,
Tax benefit (expense)	2016			2015			2016			2015
Foreign currency translation gains (losses)	$	(26.0	)	$	11.8		$	1.7		$	11.8
Unrealized net gains (losses) on securities	(10.2		)	18.6			(14.4		)	(11.4		)
Defined benefit pension and retiree health benefit plans	(21.8		)	(20.3		)	(47.5		)	(62.8		)
Effective portion of cash flow hedges	(0.1		)	(1.3		)	(1.4		)	17.2
Provision for income taxes allocated to other comprehensive income (loss) items	$	(58.1	)	$	8.8		$	(61.6	)	$	(45.2	)



(Amounts presented net of taxes)	Foreign Currency Translation Gains (Losses)			Unrealized Net Gains (Losses) on Securities			Defined Benefit Pension and Retiree Health Benefit Plans			Effective Portion of Cash Flow Hedges			Accumulated Other Comprehensive Loss
Balance at April 1, 2015	$	(1,294.4	)	$	155.6		$	(3,293.1	)	$	(225.6	)	$	(4,657.5	)

Other comprehensive income (loss) before reclassifications	256.8			(8.7		)	(24.6		)	—			223.5
Net amount reclassified from accumulated other comprehensive loss	—			(25.9		)	54.4			2.3			30.8
Net other comprehensive income (loss)	256.8			(34.6		)	29.8			2.3			254.3

Balance at June 30, 2015	$	(1,037.6	)	$	121.0		$	(3,263.3	)	$	(223.3	)	$	(4,403.2	)



(Amounts presented net of taxes)	Foreign Currency Translation Gains (Losses)			Unrealized Net Gains (Losses) on Securities			Defined Benefit Pension and Retiree Health Benefit Plans			Effective Portion of Cash Flow Hedges			Accumulated Other Comprehensive Loss
Balance at January 1, 2015	$	(498.4	)	$	99.7		$	(3,402.0	)	$	(191.1	)	$	(3,991.8	)

Other comprehensive income (loss) before reclassifications	(539.2		)	59.1			30.6			(36.9		)	(486.4		)
Net amount reclassified from accumulated other comprehensive loss	—			(37.8		)	108.1			4.7			75.0
Net other comprehensive income (loss)	(539.2		)	21.3			138.7			(32.2		)	(411.4		)

Balance at June 30, 2015	$	(1,037.6	)	$	121.0		$	(3,263.3	)	$	(223.3	)	$	(4,403.2	)

The following tables summarize the activity related to each component of other comprehensive income (loss) during the six months ended June 30, 2016 and 2015:



(Amounts presented net of taxes)	Foreign Currency Translation Gains (Losses)			Unrealized Net Gains (Losses) on Securities		Defined Benefit Pension and Retiree Health Benefit Plans			Effective Portion of Cash Flow Hedges			Accumulated Other Comprehensive Loss
Balance at January 1, 2016	$	(1,360.2	)	$	10.1	$	(3,012.1	)	$	(218.5	)	$	(4,580.7	)

Other comprehensive income (loss) before reclassifications	12.7			13.0		20.5			(2.2		)	44.0
Net amount reclassified from accumulated other comprehensive loss	74.5			13.7		72.5			4.8			165.5
Net other comprehensive income (loss)	87.2			26.7		93.0			2.6			209.5

Balance at June 30, 2016	$	(1,273.0	)	$	36.8	$	(2,919.1	)	$	(215.9	)	$	(4,371.2	)

The following tables summarize the activity related to each component of other comprehensive income (loss) during the three months ended June 30, 2016 and 2015:



(Amounts presented net of taxes)	Foreign Currency Translation Gains (Losses)			Unrealized Net Gains (Losses) on Securities		Defined Benefit Pension and Retiree Health Benefit Plans			Effective Portion of Cash Flow Hedges			Accumulated Other Comprehensive Loss
Balance at April 1, 2016	$	(1,085.4	)	$	17.9	$	(2,981.1	)	$	(216.1	)	$	(4,264.7	)

Other comprehensive income (loss) before reclassifications	(187.6		)	8.8		24.6			(2.2		)	(156.4		)
Net amount reclassified from accumulated other comprehensive loss	—			10.1		37.4			2.4			49.9
Net other comprehensive income (loss)	(187.6		)	18.9		62.0			0.2			(106.5		)

Balance at June 30, 2016	$	(1,273.0	)	$	36.8	$	(2,919.1	)	$	(215.9	)	$	(4,371.2	)

Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]

Reclassifications out of accumulated other comprehensive loss were as follows:



	Reclassifications Out of Accumulated Other Comprehensive Loss
Details about Accumulated Other Comprehensive Loss Components	Three Months Ended June 30,						Six Months Ended June 30,						Affected Line Item in the Consolidated Condensed Statements of Operations
	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016			2015
Amortization of retirement benefit items:
Prior service benefits, net	$	(21.7	)	$	(19.0	)	$	(37.1	)	$	(38.1	)	⁽¹⁾
Actuarial losses	79.2			100.4			152.7			202.2			⁽¹⁾
Total before tax	57.5			81.4			115.6			164.1
Tax benefit	(20.1		)	(27.0		)	(43.1		)	(56.0		)	Income taxes
Net of tax	37.4			54.4			72.5			108.1

Unrealized gains/losses on available-for-sale securities:
Realized (gains) losses, net before tax	(0.3		)	(46.1		)	5.2			(64.4		)	Other–net, (income) expense
Impairment losses	15.9			6.2			15.9			6.2			Other–net, (income) expense
Total before tax	15.6			(39.9		)	21.1			(58.2		)
Tax (benefit) expense	(5.5		)	14.0			(7.4		)	20.4			Income taxes
Net of tax	10.1			(25.9		)	13.7			(37.8		)
Other, net of tax ⁽²⁾	2.4			2.3			79.3			4.7			Other–net, (income) expense
Total reclassifications for the period (net of tax)	$	49.9		$	30.8		$	165.5		$	75.0

Other - Net, (Income) Expense (Tables)

6 Months Ended

Jun. 30, 2016

Nonoperating Income (Expense) [Abstract]

Schedule of Other Nonoperating Income (Expense) [Table Text Block]

Other–net, (income) expense consisted of the following:



	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016			2015
Interest expense	$	43.2		$	36.8		$	86.6		$	77.7
Interest income	(23.5		)	(20.6		)	(47.7		)	(42.0		)
Venezuela charge	—			—			203.9			—
Debt extinguishment loss (Note 6)	—			166.7			—			166.7
Other income	(40.9		)	(59.6		)	(115.0		)	(171.8		)
Other–net, (income) expense	$	(21.2	)	$	123.3		$	127.8		$	30.6

Segment Information (Tables)

6 Months Ended

Jun. 30, 2016

Segment Reporting Information [Line Items]

Segment Information [Text Block]



	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Segment revenue—to unaffiliated customers:
Human pharmaceutical products:
Endocrinology:
Humalog^®	$	701.9	$	654.3	$	1,308.2	$	1,338.2
Humulin^®	332.3		316.4		688.7		632.1
Forteo^®	367.6		328.4		686.3		621.4
Trulicity^®	201.3		44.3		344.9		62.6
Trajenta	121.0		80.0		215.4		162.4
Other Endocrinology	234.3		214.5		471.6		447.5
Total Endocrinology	1,958.4		1,637.9		3,715.1		3,264.2

Oncology:
Alimta	607.1		664.3		1,171.3		1,237.4
Erbitux	180.6		134.6		348.6		222.8
Cyramza^®	147.0		87.7		278.0		155.2
Other Oncology	35.8		36.0		67.1		66.2
Total Oncology	970.5		922.6		1,865.0		1,681.6

Cardiovascular:
Cialis^®	630.5		567.9		1,207.2		1,106.2
Effient	135.1		128.8		266.6		250.6
Other Cardiovascular	61.7		66.5		107.6		121.6
Total Cardiovascular	827.3		763.2		1,581.4		1,478.4

Neuroscience:
Cymbalta	236.5		274.1		435.2		561.1
Zyprexa^®	210.7		253.7		423.4		473.2
Strattera^®	224.6		191.8		412.7		365.5
Other Neuroscience	45.9		44.3		90.0		89.4
Total Neuroscience	717.7		763.9		1,361.3		1,489.2

Other pharmaceuticals	71.1		50.3		132.7		119.5
Total human pharmaceutical products	4,545.0		4,137.9		8,655.5		8,032.9
Animal health	859.8		840.8		1,614.4		1,590.5
Revenue	$	5,404.8	$	4,978.7	$	10,269.9	$	9,623.4



	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016			2015
Segment profits:
Human pharmaceutical products	$	959.4		$	1,016.8		$	1,886.3		$	2,099.9
Animal health	211.7			188.3			359.4			303.3
Total segment profits	$	1,171.1		$	1,205.1		$	2,245.7		$	2,403.2

Reconciliation of total segment profits to consolidated income before taxes:
Segment profits	$	1,171.1		$	1,205.1		$	2,245.7		$	2,403.2
Other profits (losses):
Acquired in-process research and development (Note 3)	—			(80.0		)	—			(336.0		)
Amortization of intangible assets	(168.6		)	(151.9		)	(341.1		)	(304.6		)
Asset impairment, restructuring, and other special charges (Note 5)	(58.0		)	(72.4		)	(189.4		)	(180.4		)
Venezuela charge (Note 12)	—			—			(203.9		)	—
Debt repurchase charges, net ⁽¹⁾ (Note 6)	—			(152.7		)	—			(152.7		)
Inventory fair value adjustment related to Novartis AH (Note 3)	—			(68.4		)	—			(131.9		)
Consolidated income before taxes	$	944.5		$	679.7		$	1,511.3		$	1,297.6

Acquisitions (Details) - USD ($)
$ in Millions

1 Months Ended

3 Months Ended

6 Months Ended

Jan. 31, 2015

Jun. 30, 2016

Jun. 30, 2015

Mar. 31, 2015

Jun. 30, 2016

Jun. 30, 2015

Dec. 31, 2015

Jan. 01, 2015

Dec. 31, 2014

Cost of sales

$ 1,465.0

$ 1,218.4

$ 2,788.0

$ 2,411.1

Interest Expense

43.2

36.8

86.6

77.7

Restricted cash

$ 5,410.0

Payments to Acquire Businesses, Net of Cash Acquired

45.0

5,276.7

Goodwill

4,026.5

$ 4,039.9

Acquired in-process research and development

0.0

80.0

0.0

336.0

Purchased in-process research and development

0.0

336.0

Novartis Animal Health [Member]

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory

$ 380.2

Business Combination, Consideration Transferred

$ 5,280.0

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles

^[1]

1,953.0

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets

298.0

Business Combination, Consideration Transferred

5,283.1

Acquired Finite-lived Intangible Assets, Weighted Average Useful Life

19 years

Business Acquisition, Goodwill, Expected Tax Deductible Amount

1,000.0

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment

199.9

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets held for sale

422.7

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other

(108.7)

Goodwill

^[2]

2,271.1

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent

(60.1)

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities

(73.0)

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net

$ 3,012.0

Innovent Biologics, Inc. [Member]

Acquired in-process research and development

$ 56.0

Hanmi Pharmaceutical Co., Ltd. [Member]

Acquired in-process research and development

50.0

BioNTech AG [Member]

Acquired in-process research and development

30.0

Tanezumab [Member]

Acquired in-process research and development

$ 200.0

Discontinued Operations, Held-for-sale [Member] | United States [Member] | U.S. Sentinel Product Line [Member]

Proceeds from Divestiture of Businesses

$ 410.0

Corporate, Non-Segment [Member]

Amortization of Intangible Assets

168.6

151.9

341.1

304.6

Acquired in-process research and development

0.0

80.0

0.0

336.0

Corporate, Non-Segment [Member] | Fair Value Adjustment to Inventory [Member]

Cost of sales

$ 0.0

$ 68.4

$ 0.0

$ 131.9

[1]	(1) These intangible assets, which are being amortized to cost of sales on a straight-line basis over their estimated useful lives, were expected to have a weighted average useful life of 19 years.
[2]	(2) The goodwill recognized from this acquisition is attributable primarily to expected synergies from combining the operations of Novartis AH with our legacy animal health business, future unidentified projects and products, and the assembled workforce of Novartis AH. Approximately $1.0 billion of the goodwill associated with this acquisition will be deductible for tax purposes.

Collaborations and Other Arrangements (Details) - USD ($)
$ in Millions

1 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

Sep. 30, 2014

Oct. 31, 2013

Dec. 31, 2009

Jun. 30, 2001

Jun. 30, 2016

Mar. 31, 2016

Dec. 31, 2015

Jun. 30, 2015

Mar. 31, 2015

Jun. 30, 2016

Jun. 30, 2015

Jun. 30, 2011

Dec. 31, 2015

Oct. 01, 2015

Collaboration and other revenue

$ 208.5

$ 233.4

$ 390.8

$ 429.5

Revenue

5,404.8

4,978.7

10,269.9

9,623.4

Research and development

1,335.9

1,169.5

2,556.9

2,208.8

Nonoperating Income (Expense)

21.2

(123.3)

(127.8)

(30.6)

Marketing, selling, and administrative

1,622.6

1,635.4

3,096.5

3,158.9

Acquired in-process research and development

0.0

80.0

0.0

336.0

Tanezumab [Member]

Acquired in-process research and development

$ 200.0

BACE Inhibitor [Member]

Research and development

100.0

Sales [Member] | Erbitux [Member]

Collaborative Arrangement, Rights and Obligations Percent

38.00%

Profit and Development and Marketing Share [Member] | Effient [Member]

Collaborative Arrangement, Rights and Obligations Percent

50.00%

Research and Development Exp [Member] | Baricitinib [Member]

Collaborative Arrangement, Rights and Obligations Percent

30.00%

Milestone Payments, Development and Regulatory, Capitalized [Member] | Lly Compounds [Member]

Collaborative Arrangement, Rights and Obligations, Terms

^[1],[2]

187.5

$ 0.0

Milestone Payments, Development and Regulatory, Capitalized [Member] | Trajenta (BI) [Member]

Collaborative Arrangement, Rights and Obligations, Terms

^[1],[3]

0.0

Milestone Payments, Development and Regulatory, Capitalized [Member] | Jardiance (BI) [Member]

Collaborative Arrangement, Rights and Obligations, Terms

^[1],[4]

0.0

$ 0.0

Milestone Payments, Development and Regulatory, Capitalized, Cumulative [Member] | Lly Compounds [Member]

Collaborative Arrangement, Rights and Obligations, Terms

^[1],[2],[5]

250.0

Milestone Payments, Development and Regulatory, Capitalized, Cumulative [Member] | Trajenta (BI) [Member]

Collaborative Arrangement, Rights and Obligations, Terms

^[1],[3],[5]

(446.4)

Milestone Payments, Development and Regulatory, Capitalized, Cumulative [Member] | Jardiance (BI) [Member]

Collaborative Arrangement, Rights and Obligations, Terms

^[1],[4],[5]

(299.5)

Milestone Payments, Development and Regulatory, Expensed [Member] | Baricitinib [Member]

Research and development

$ 55.0

Milestone Payments, Sales-based [Member] | Solanezumab [Member]

Collaborative Arrangement, Rights and Obligations, Terms

$ (70.0)

Milestone Payments, Sales-based [Member] | Baricitinib [Member]

Collaborative Arrangement, Rights and Obligations, Terms

$ (150.0)

Milestone Payments, Sales-based [Member] | Tanezumab [Member]

Collaborative Arrangement, Rights and Obligations, Terms

$ (1,230.0)

Milestone Payments, Development and Regulatory [Member] | Lly Compounds [Member]

Collaborative Arrangement, Rights and Obligations, Terms

$ 187.5

Milestone Payments, Development and Regulatory [Member] | Baricitinib [Member]

Collaborative Arrangement, Rights and Obligations, Terms

(360.0)

Milestone Payments, Development and Regulatory [Member] | Tanezumab [Member]

Collaborative Arrangement, Rights and Obligations, Terms

$ (350.0)

Milestone Payments, Development and Regulatory [Member] | BACE Inhibitor [Member]

Collaborative Arrangement, Rights and Obligations, Terms

$ (350.0)

Milestone Payments, Development and Regulatory, First Indication [Member] | Baricitinib [Member]

Collaborative Arrangement, Rights and Obligations, Terms

$ (180.0)

Royalty Agreement Terms [Member] | Solanezumab [Member]

Collaborative Arrangement, Rights and Obligations, Terms of Arrangement, Period

10 years

Royalty Agreement Terms [Member] | Baricitinib [Member]

Collaborative Arrangement, Rights and Obligations Percent

20.00%

Upfront Payment [Member] | Tanezumab [Member]

Acquired in-process research and development

$ 200.0

Collaborative Arrangement [Member]

Marketing, selling, and administrative

47.3

53.5

96.3

102.8

Human Pharmaceutical Products [Member]

Revenue

4,545.0

4,137.9

8,655.5

8,032.9

Human Pharmaceutical Products [Member] | Erbitux API [Member]

Sales Revenue, Goods, Net

0.0

11.0

0.0

24.8

Human Pharmaceutical Products [Member] | Erbitux [Member]

Collaboration and other revenue

22.2

123.6

48.7

198.0

Revenue

180.6

134.6

348.6

222.8

Sales Revenue, Goods, Net

158.4

0.0

299.9

0.0

Human Pharmaceutical Products [Member] | Effient [Member]

Revenue

135.1

128.8

266.6

250.6

Human Pharmaceutical Products [Member] | Trajenta (BI) [Member]

Collaboration and other revenue

121.0

80.0

215.4

162.4

Human Pharmaceutical Products [Member] | Jardiance (BI) [Member]

Collaboration and other revenue

$ 40.1

11.1

$ 78.3

30.3

Erbitux Acquisition [Member]

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles

^[6]

$ 602.1

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory

232.2

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent

(228.2)

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets

57.2

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net

663.3

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Contingent Liability

^[7]

$ (663.3)

Business Acquisition, Pro Forma Revenue

5,100.0

9,800.0

Erbitux Acquisition [Member] | Erbitux [Member]

Business Acquisition, Pro Forma Revenue

$ 230.0

$ 405.0

[1]	(1) In connection with the regulatory approvals of Basaglar in Europe and Japan, milestone payments received were recorded as deferred revenue and are being amortized through the term of the collaboration (2029) to collaboration and other revenue. In connection with the regulatory approvals of Trajenta and Jardiance, milestone payments made were capitalized as intangible assets and are being amortized to cost of sales.
[2]	(4) In September 2015, we entered into a settlement agreement to resolve patent infringement litigation filed by Sanofi-Aventis U.S. LLC, which markets Lantus® (insulin glargine). As part of the settlement agreement, the parties agreed that Basaglar can be launched in the U.S. beginning on December 15, 2016. Basaglar received U.S. Food and Drug Administration (FDA) approval in December 2015. As a result of receiving FDA approval, we received a $187.5 million milestone payment from Boehringer Ingelheim in the first quarter of 2016, which was recorded as deferred revenue and, upon product launch, will be amortized through the term of the collaboration to collaboration and other revenue.
[3]	(2) Jentadueto is included in the Trajenta family of product results.
[4]	(3) Glyxambi and Synjardy are included in the Jardiance family of product results.
[5]	(5) The cumulative amount represents the total amounts as of the end of the reporting period that have been (deferred) or capitalized since the start of this collaboration.
[6]	(1) These intangible assets are being amortized to cost of sales using the straight-line method through the co-development period in North America as set forth in the original agreement, which was scheduled to expire in September 2018.
[7]	(2) See Note 6 for discussion on the estimation of the contingent consideration liability.

Asset Impairment, Restructuring, and Other Special Charges (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Restructuring Cost and Reserve [Line Items]
Severance Costs	$ 19.2		$ 22.1	$ 28.7	$ 53.2
Asset Impairment Charges	38.8		50.3	160.7	127.2
Asset impairment, restructuring, and other special charges	58.0		72.4	189.4	180.4
Human Pharmaceutical Products [Member]
Restructuring Cost and Reserve [Line Items]
Severance Costs	0.0		8.2	0.0	16.9
Asset Impairment Charges	0.0		17.2	0.0	17.2
Animal Health [Member]
Restructuring Cost and Reserve [Line Items]
Severance Costs	19.2		13.9	28.7	36.3
Asset Impairment Charges	$ 38.8		$ 33.1	$ 160.7	$ 110.0
IRELAND \| Animal Health [Member]
Restructuring Cost and Reserve [Line Items]
Asset Impairment Charges		$ 87.2

Financial Instruments (Details)
€ in Millions, ¥ in Millions, £ in Millions, SFr in Millions, $ in Millions

1 Months Ended

3 Months Ended

6 Months Ended

Jun. 30, 2015

USD ($)

Feb. 28, 2015

USD ($)

Jun. 30, 2016

USD ($)

Jun. 30, 2015

USD ($)

Jun. 30, 2016

USD ($)

Jun. 30, 2015

USD ($)

Jun. 30, 2016

EUR (€)

Jun. 30, 2016

CHF (SFr)

Jun. 30, 2016

GBP (£)

Jun. 30, 2016

USD ($)

Jun. 30, 2016

JPY (¥)

May 31, 2016

CHF (SFr)

Dec. 31, 2015

USD ($)

Jun. 30, 2015

EUR (€)

Jun. 02, 2015

USD ($)

Mar. 31, 2015

USD ($)

Transfer of Financial Assets Accounted for as Sales, Amount Derecognized

$ 731.9

$ 670.6

Interest Expense

$ 43.2

$ 36.8

$ 86.6

$ 77.7

Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax

79.8

68.0

Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax

23.2

52.5

Available-for-sale Securities, Gross Realized Gains

3.4

47.8

5.2

102.3

Repayments of Long-term Debt

0.1

1,949.2

Available-for-sale Securities, Debt Securities

$ 4,367.9

Proceeds from issuance of long-term debt

1,206.6

4,454.6

Extinguishment of Debt, Amount

1,650.0

Debt extinguishment loss

$ 0.0

166.7

$ 0.0

166.7

Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Other, Percentage of Nonperforming Assets

70.00%

Maximum Remaining Maturity of Foreign Currency Derivatives

30 days

Description of Derivative Activity Volume Percent

30.00%

Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net

$ 15.2

Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability

$ 111.6

Available-for-sale Securities, Debt Maturities, Year Two Through Five, Fair Value

3,134.8

Available-for-sale Securities, Continuous Unrealized Gain Position, Fair Value

3,550.8

764.5

Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value

769.9

2,933.4

Other than Temporary Impairment Losses, Investments

$ 15.9

6.2

41.6

9.8

Proceeds from Sale and Maturity of Available-for-sale Securities

850.7

1,900.1

1,577.1

2,869.9

Available-for-sale Securities, Gross Realized Losses

3.1

1.7

10.4

2.4

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Debt Maturities, Next Twelve Months, Fair Value

696.8

Available-for-sale Securities, Debt Maturities, Year Six Through Ten, Fair Value

261.7

Available-for-sale Securities, Debt Maturities, after Ten Years, Fair Value

274.6

Net payments for terminations of interest rate swaps

(3.4)

(186.1)

Investment Income, Interest

23.5

20.6

47.7

42.0

Foreign Currency Transaction Gain (Loss), Realized

0.0

(203.9)

0.0

Other Nonoperating Income (Expense)

40.9

59.6

115.0

171.8

Nonoperating Income (Expense)

21.2

(123.3)

(127.8)

(30.6)

Maturity Date, 2018 [Member]

Long-term Debt

SFr (200.0)

$ (600.0)

Debt Instrument, Interest Rate, Stated Percentage

0.00%

1.25%

Maturity Date, 2024 [Member]

Long-term Debt | SFr

SFr (600.0)

Debt Instrument, Interest Rate, Stated Percentage

0.15%

Maturity Date, 2028 [Member]

Long-term Debt | SFr

SFr (400.0)

Debt Instrument, Interest Rate, Stated Percentage

0.45%

Maturity Date, 2025 [Member]

Long-term Debt

$ (800.0)

Debt Instrument, Interest Rate, Stated Percentage

2.75%

Maturity Date, 2045 [Member]

Long-term Debt

$ (800.0)

Debt Instrument, Interest Rate, Stated Percentage

3.70%

Maturity Date, 2022 [Member]

Long-term Debt | €

€ (600.0)

Debt Instrument, Interest Rate, Stated Percentage

1.00%

Maturity Date, 2026 [Member]

Long-term Debt | €

€ (750.0)

Debt Instrument, Interest Rate, Stated Percentage

1.63%

Maturity Date, 2030 [Member]

Long-term Debt | €

€ (750.0)

Debt Instrument, Interest Rate, Stated Percentage

2.13%

Euro-Denominated Debt Issuance [Member]

Long-term Debt

(3,520.0)

(2,270.0)

Proceeds from issuance of long-term debt

2,270.0

Swiss Franc-Denominated Debt Issuance [Member]

Proceeds from issuance of long-term debt

1,210.0

Cross Currency Interest Rate Contract [Member]

Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net

7.5

0.0

6.3

0.0

Euro-Denominated Debt Issuance [Member]

Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net

34.8

(33.8)

(43.0)

(33.8)

Interest Rate Swap [Member]

Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net

(3.4)

0.0

(3.4)

(56.7)

Buy British pound Sell euro [Member]

Available-for-sale Securities, Noncurrent [Abstract]

Derivative Liability, Notional Amount | £

£ 246.4

Derivative Asset, Notional Amount | €

€ 309.9

Buy US dollar Sell euro [Member]

Available-for-sale Securities, Noncurrent [Abstract]

Derivative Liability, Notional Amount

707.0

Derivative Asset, Notional Amount | €

633.8

Buy euro Sell US dollar [Member]

Available-for-sale Securities, Noncurrent [Abstract]

Derivative Liability, Notional Amount | €

€ 1,610.0

Derivative Asset, Notional Amount

1,820.0

Buy US dollar Sell Japanese Yen [Member]

Available-for-sale Securities, Noncurrent [Abstract]

Derivative Liability, Notional Amount

686.0

Derivative Asset, Notional Amount | ¥

¥ 72,070

Buy US dollar Sell British pound [Member]

Available-for-sale Securities, Noncurrent [Abstract]

Derivative Liability, Notional Amount

270.9

Derivative Asset, Notional Amount | £

£ 191.5

Buy Swiss francs Sell US dollar [Member]

Available-for-sale Securities, Noncurrent [Abstract]

Derivative Liability, Notional Amount | SFr

SFr 228.6

Derivative Asset, Notional Amount

236.2

Equity Contract [Member]

Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net

0.0

Hedged Fixed Rate Debt [Member] | Designated as Hedging Instrument [Member]

Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge

35.8

(99.2)

111.1

(40.3)

Interest Rate Contract [Member]

Available-for-sale Securities, Noncurrent [Abstract]

Derivative Liability, Notional Amount

$ 1,350.0

Derivative Asset, Notional Amount

$ 876.0

Net payments for terminations of interest rate swaps

$ (20.2)

$ (206.3)

Interest Rate Contract [Member] | Designated as Hedging Instrument [Member]

Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments

(35.8)

99.2

(111.1)

40.3

Derivative Instruments, Loss Reclassified from Accumulated OCI into Income, Effective Portion

3.7

3.6

7.4

6.3

Foreign Exchange Contract [Member]

Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net

31.9

0.0

31.9

0.0

Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member]

Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments

$ 90.9

$ (1.2)

$ 104.2

22.1

Estimate of Fair Value Measurement [Member]

Cash and Cash Equivalents, Fair Value Disclosure

1,615.3

1,644.4

Long-term Debt

(9,926.9)

(8,172.0)

Estimate of Fair Value Measurement [Member] | Not Designated as Hedging Instrument [Member]

Business Combination, Contingent Consideration, Liability, Current

^[1]

(246.6)

(243.7)

Business Combination, Contingent Consideration, Liability, Noncurrent

^[1]

(358.4)

(427.2)

Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]

Cash and Cash Equivalents, Fair Value Disclosure

1,612.3

1,637.0

Long-term Debt

0.0

Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Not Designated as Hedging Instrument [Member]

Business Combination, Contingent Consideration, Liability, Current

^[1]

0.0

Business Combination, Contingent Consideration, Liability, Noncurrent

^[1]

0.0

Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]

Cash and Cash Equivalents, Fair Value Disclosure

3.0

7.4

Long-term Debt

(9,926.9)

(8,172.0)

Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Not Designated as Hedging Instrument [Member]

Business Combination, Contingent Consideration, Liability, Current

^[1]

0.0

Business Combination, Contingent Consideration, Liability, Noncurrent

^[1]

0.0

Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]

Cash and Cash Equivalents, Fair Value Disclosure

0.0

Long-term Debt

0.0

Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Not Designated as Hedging Instrument [Member]

Business Combination, Contingent Consideration, Liability, Current

^[1]

(246.6)

(243.7)

Business Combination, Contingent Consideration, Liability, Noncurrent

^[1]

(358.4)

(427.2)

Estimate of Fair Value Measurement [Member] | Corporate Debt Securities [Member]

Available-for-sale Securities, Current [Abstract]

Available-for-sale Securities, Debt Securities, Current

624.4

625.8

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Debt Securities, Noncurrent

2,545.7

1,962.6

Estimate of Fair Value Measurement [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member]

Available-for-sale Securities, Current [Abstract]

Available-for-sale Securities, Debt Securities, Current

0.0

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Debt Securities, Noncurrent

0.0

Estimate of Fair Value Measurement [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]

Available-for-sale Securities, Current [Abstract]

Available-for-sale Securities, Debt Securities, Current

624.4

625.8

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Debt Securities, Noncurrent

2,545.7

1,962.6

Estimate of Fair Value Measurement [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member]

Available-for-sale Securities, Current [Abstract]

Available-for-sale Securities, Debt Securities, Current

0.0

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Debt Securities, Noncurrent

0.0

Estimate of Fair Value Measurement [Member] | US Government Agencies Debt Securities [Member]

Available-for-sale Securities, Current [Abstract]

Available-for-sale Securities, Debt Securities, Current

66.3

153.2

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Debt Securities, Noncurrent

465.6

284.5

Estimate of Fair Value Measurement [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member]

Available-for-sale Securities, Current [Abstract]

Available-for-sale Securities, Debt Securities, Current

66.3

153.2

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Debt Securities, Noncurrent

465.6

283.5

Estimate of Fair Value Measurement [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]

Available-for-sale Securities, Current [Abstract]

Available-for-sale Securities, Debt Securities, Current

0.0

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Debt Securities, Noncurrent

0.0

1.0

Estimate of Fair Value Measurement [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member]

Available-for-sale Securities, Current [Abstract]

Available-for-sale Securities, Debt Securities, Current

0.0

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Debt Securities, Noncurrent

0.0

Estimate of Fair Value Measurement [Member] | Other Debt Obligations [Member]

Available-for-sale Securities, Current [Abstract]

Available-for-sale Securities, Debt Securities, Current

2.7

3.1

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Debt Securities, Noncurrent

155.7

137.1

Estimate of Fair Value Measurement [Member] | Other Debt Obligations [Member] | Fair Value, Inputs, Level 1 [Member]

Available-for-sale Securities, Current [Abstract]

Available-for-sale Securities, Debt Securities, Current

0.0

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Debt Securities, Noncurrent

12.5

0.0

Estimate of Fair Value Measurement [Member] | Other Debt Obligations [Member] | Fair Value, Inputs, Level 2 [Member]

Available-for-sale Securities, Current [Abstract]

Available-for-sale Securities, Debt Securities, Current

2.7

3.1

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Debt Securities, Noncurrent

7.1

4.1

Estimate of Fair Value Measurement [Member] | Other Debt Obligations [Member] | Fair Value, Inputs, Level 3 [Member]

Available-for-sale Securities, Current [Abstract]

Available-for-sale Securities, Debt Securities, Current

0.0

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Debt Securities, Noncurrent

136.1

133.0

Estimate of Fair Value Measurement [Member] | Collateralized Mortgage Backed Securities [Member]

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Debt Securities, Noncurrent

197.2

153.3

Estimate of Fair Value Measurement [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member]

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Debt Securities, Noncurrent

0.0

Estimate of Fair Value Measurement [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member]

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Debt Securities, Noncurrent

197.2

153.3

Estimate of Fair Value Measurement [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member]

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Debt Securities, Noncurrent

0.0

Estimate of Fair Value Measurement [Member] | Asset-backed Securities [Member]

Available-for-sale Securities, Current [Abstract]

Available-for-sale Securities, Debt Securities, Current

3.4

3.3

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Debt Securities, Noncurrent

455.5

441.9

Estimate of Fair Value Measurement [Member] | Asset-backed Securities [Member] | Fair Value, Inputs, Level 1 [Member]

Available-for-sale Securities, Current [Abstract]

Available-for-sale Securities, Debt Securities, Current

0.0

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Debt Securities, Noncurrent

0.0

Estimate of Fair Value Measurement [Member] | Asset-backed Securities [Member] | Fair Value, Inputs, Level 2 [Member]

Available-for-sale Securities, Current [Abstract]

Available-for-sale Securities, Debt Securities, Current

3.4

3.3

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Debt Securities, Noncurrent

455.5

441.9

Estimate of Fair Value Measurement [Member] | Asset-backed Securities [Member] | Fair Value, Inputs, Level 3 [Member]

Available-for-sale Securities, Current [Abstract]

Available-for-sale Securities, Debt Securities, Current

0.0

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Debt Securities, Noncurrent

0.0

Estimate of Fair Value Measurement [Member] | Equity Securities, US [Member]

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Equity Securities, Noncurrent

95.9

128.9

Estimate of Fair Value Measurement [Member] | Equity Securities, US [Member] | Fair Value, Inputs, Level 1 [Member]

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Equity Securities, Noncurrent

95.9

128.9

Estimate of Fair Value Measurement [Member] | Equity Securities, US [Member] | Fair Value, Inputs, Level 2 [Member]

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Equity Securities, Noncurrent

0.0

Estimate of Fair Value Measurement [Member] | Equity Securities, US [Member] | Fair Value, Inputs, Level 3 [Member]

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Equity Securities, Noncurrent

0.0

Estimate of Fair Value Measurement [Member] | Cross Currency Interest Rate Contract [Member] | Designated as Hedging Instrument [Member]

Derivative Assets, Noncurrent

5.9

Estimate of Fair Value Measurement [Member] | Cross Currency Interest Rate Contract [Member] | Fair Value, Inputs, Level 1 [Member] | Designated as Hedging Instrument [Member]

Derivative Assets, Noncurrent

0.0

Estimate of Fair Value Measurement [Member] | Cross Currency Interest Rate Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Designated as Hedging Instrument [Member]

Derivative Assets, Noncurrent

5.9

Estimate of Fair Value Measurement [Member] | Cross Currency Interest Rate Contract [Member] | Fair Value, Inputs, Level 3 [Member] | Designated as Hedging Instrument [Member]

Derivative Assets, Noncurrent

0.0

Estimate of Fair Value Measurement [Member] | Interest Rate Contract [Member] | Designated as Hedging Instrument [Member]

Derivative Assets, Current

9.9

Derivative Assets, Noncurrent

170.9

70.1

Derivative Liabilities, Noncurrent

(0.4)

Estimate of Fair Value Measurement [Member] | Interest Rate Contract [Member] | Fair Value, Inputs, Level 1 [Member] | Designated as Hedging Instrument [Member]

Derivative Assets, Current

0.0

Derivative Assets, Noncurrent

0.0

Derivative Liabilities, Noncurrent

0.0

Estimate of Fair Value Measurement [Member] | Interest Rate Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Designated as Hedging Instrument [Member]

Derivative Assets, Current

9.9

Derivative Assets, Noncurrent

170.9

70.1

Derivative Liabilities, Noncurrent

(0.4)

Estimate of Fair Value Measurement [Member] | Interest Rate Contract [Member] | Fair Value, Inputs, Level 3 [Member] | Designated as Hedging Instrument [Member]

Derivative Assets, Current

0.0

Derivative Assets, Noncurrent

0.0

Derivative Liabilities, Noncurrent

0.0

Estimate of Fair Value Measurement [Member] | Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member]

Derivative Assets, Current

20.3

13.1

Derivative Liabilities, Current

(72.4)

(17.3)

Estimate of Fair Value Measurement [Member] | Foreign Exchange Contract [Member] | Fair Value, Inputs, Level 1 [Member] | Not Designated as Hedging Instrument [Member]

Derivative Assets, Current

0.0

Derivative Liabilities, Current

0.0

Estimate of Fair Value Measurement [Member] | Foreign Exchange Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Not Designated as Hedging Instrument [Member]

Derivative Assets, Current

20.3

13.1

Derivative Liabilities, Current

(72.4)

(17.3)

Estimate of Fair Value Measurement [Member] | Foreign Exchange Contract [Member] | Fair Value, Inputs, Level 3 [Member] | Not Designated as Hedging Instrument [Member]

Derivative Assets, Current

0.0

Derivative Liabilities, Current

0.0

Reported Value Measurement [Member]

Cash and Cash Equivalents, Fair Value Disclosure

1,615.3

1,644.4

Long-term Debt

(9,331.3)

(7,978.5)

Extinguishment of Debt, Amount

$ 1,780.0

Available-for-sale Securities, Current [Abstract]

Available-for-sale Securities, Current, Total

696.8

785.4

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Noncurrent, Total

4,449.2

3,646.6

Reported Value Measurement [Member] | Not Designated as Hedging Instrument [Member]

Business Combination, Contingent Consideration, Liability, Current

^[1]

(246.6)

(243.7)

Business Combination, Contingent Consideration, Liability, Noncurrent

^[1]

(358.4)

(427.2)

Reported Value Measurement [Member] | Corporate Debt Securities [Member]

Available-for-sale Securities, Current [Abstract]

Available-for-sale Securities, Debt Securities, Current

624.4

625.8

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Debt Securities, Noncurrent

2,545.7

1,962.6

Reported Value Measurement [Member] | US Government Agencies Debt Securities [Member]

Available-for-sale Securities, Current [Abstract]

Available-for-sale Securities, Debt Securities, Current

66.3

153.2

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Debt Securities, Noncurrent

465.6

284.5

Reported Value Measurement [Member] | Other Debt Obligations [Member]

Available-for-sale Securities, Current [Abstract]

Available-for-sale Securities, Debt Securities, Current

2.7

3.1

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Debt Securities, Noncurrent

155.7

137.1

Reported Value Measurement [Member] | Collateralized Mortgage Backed Securities [Member]

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Debt Securities, Noncurrent

197.2

153.3

Reported Value Measurement [Member] | Asset-backed Securities [Member]

Available-for-sale Securities, Current [Abstract]

Available-for-sale Securities, Debt Securities, Current

3.4

3.3

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Debt Securities, Noncurrent

455.5

441.9

Reported Value Measurement [Member] | Equity Securities, US [Member]

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Equity Securities, Noncurrent

95.9

128.9

Reported Value Measurement [Member] | Equity Method and Other Investments [Member]

Available-for-sale Securities, Noncurrent [Abstract]

Other Long-term Investments

^[2]

533.6

538.3

Reported Value Measurement [Member] | Cross Currency Interest Rate Contract [Member] | Designated as Hedging Instrument [Member]

Derivative Assets, Noncurrent

5.9

Reported Value Measurement [Member] | Interest Rate Contract [Member] | Designated as Hedging Instrument [Member]

Derivative Assets, Current

9.9

Derivative Assets, Noncurrent

170.9

70.1

Derivative Liabilities, Noncurrent

(0.4)

Reported Value Measurement [Member] | Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member]

Derivative Assets, Current

20.3

13.1

Derivative Liabilities, Current

(72.4)

(17.3)

Portion at Other than Fair Value Measurement [Member]

Cash and Cash Equivalents, Fair Value Disclosure

^[3]

1,615.3

1,644.4

Portion at Other than Fair Value Measurement [Member] | Corporate Debt Securities [Member]

Available-for-sale Securities, Current [Abstract]

Available-for-sale Securities, Debt Securities, Current

^[3]

623.7

626.9

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Debt Securities, Noncurrent

^[3]

2,529.6

1,995.8

Portion at Other than Fair Value Measurement [Member] | US Government Agencies Debt Securities [Member]

Available-for-sale Securities, Current [Abstract]

Available-for-sale Securities, Debt Securities, Current

^[3]

66.3

153.4

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Debt Securities, Noncurrent

^[3]

461.3

286.0

Portion at Other than Fair Value Measurement [Member] | Other Debt Obligations [Member]

Available-for-sale Securities, Current [Abstract]

Available-for-sale Securities, Debt Securities, Current

^[3]

2.7

3.1

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Debt Securities, Noncurrent

^[3]

105.5

97.3

Portion at Other than Fair Value Measurement [Member] | Collateralized Mortgage Backed Securities [Member]

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Debt Securities, Noncurrent

^[3]

194.8

154.7

Portion at Other than Fair Value Measurement [Member] | Asset-backed Securities [Member]

Available-for-sale Securities, Current [Abstract]

Available-for-sale Securities, Debt Securities, Current

^[3]

3.4

3.3

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Debt Securities, Noncurrent

^[3]

454.4

443.1

Portion at Other than Fair Value Measurement [Member] | Equity Securities, US [Member]

Available-for-sale Securities, Noncurrent [Abstract]

Available-for-sale Securities, Equity Securities, Noncurrent

^[3]

$ 64.0

$ 74.8

[1]	(1) Contingent consideration liabilities primarily relate to the Erbitux arrangement with BMS discussed in Note 4.
[2]	(2) Fair value disclosures are not applicable for cost method and equity method investments.
[3]	(1) For available-for-sale debt securities, amounts disclosed represent the securities' amortized cost.

Shareholders' Equity (Details) - USD ($) $ in Millions	6 Months Ended
Shareholders' Equity (Details) - USD ($) $ in Millions	Jun. 30, 2016	Jun. 30, 2015	Oct. 31, 2013
Stockholders' Equity Note [Abstract]
Treasury Stock, Value, Acquired, Cost Method	$ 300.1	$ 435.5
Stock Repurchase Program, Authorized Amount			$ 5,000.0
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 2,650.0

Income Taxes Income Taxes (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
Income Taxes Income Taxes (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Income Tax Examination [Line Items]
Income Tax Examination, Year under Examination		2015	2014	2013	2012	2011	2010
Decrease in Unrecognized Tax Benefits is Reasonably Possible	$ 140	$ 320
Income Taxes Paid	150
Income Tax Examination, Estimate of Cash Payment for Taxes from Settlement with Taxing Authority	$ 10

Retirement Benefits (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Retirement Benefits (Details) - USD ($) $ in Millions	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Pension Contributions			$ 25.0
Defined Benefit Plan, Estimated Future Employer Contributions in Current Fiscal Year			25.0
Pension Plans, Defined Benefit [Member]
Defined Benefit Plan, Service Cost	$ 70.6	$ 85.5	142.0	$ 162.5
Defined Benefit Plan, Interest Cost	105.1	117.2	210.2	234.3
Defined Benefit Plan, Expected Return on Plan Assets	(189.6)	(192.2)	(379.1)	(384.0)
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	(0.2)	2.6	5.7	5.1
Defined Benefit Plan, Actuarial Gain (Loss)	74.0	90.9	142.4	183.3
Defined Benefit Plan, Net Periodic Benefit Cost, Total	59.9	104.0	121.2	201.2
Other Postretirement Benefit Plans, Defined Benefit [Member]
Defined Benefit Plan, Service Cost	10.3	11.2	19.6	21.0
Defined Benefit Plan, Interest Cost	13.2	15.3	26.0	30.7
Defined Benefit Plan, Expected Return on Plan Assets	(37.6)	(37.1)	(75.1)	(74.2)
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	(21.5)	(21.6)	(42.8)	(43.2)
Defined Benefit Plan, Actuarial Gain (Loss)	5.2	9.5	10.3	18.9
Defined Benefit Plan, Net Periodic Benefit Cost, Total	$ (30.4)	$ (22.7)	$ (62.0)	$ (46.8)

Contingencies (Details) $ in Millions, R$ in Billions	1 Months Ended			6 Months Ended
Contingencies (Details) $ in Millions, R$ in Billions	Sep. 30, 2015	Apr. 30, 2015 USD ($)	Oct. 31, 2014 USD ($)	Jun. 30, 2016 USD ($)	Jun. 30, 2016 BRL (R$)
Product Liability Litigation [Member] \| Actos [Member]
Loss Contingency, Parties Jointly and Severally Liable in Litigation, Actual Opt In, Percent	96.00%
Multi District Litigation MDL [Member] \| Byetta [Member]
Loss Contingency, Number of Lawsuits				415	415
Loss Contingency, Number of Plaintiffs				415	415
Product Liability Litigation [Member] \| Byetta [Member]
Loss Contingency, Number of Lawsuits				510	510
Loss Contingency, Number of Plaintiffs				890	890
Loss Contingency, Number of Claimants				10	10
Product Liability Litigation [Member] \| Cymbalta [Member]
Loss Contingency, Number of Lawsuits				140	140
Loss Contingency, Number of Plaintiffs				1,470	1,470
Product Liability Litigation [Member] \| Prozac [Member]
Loss Contingency, Number of Lawsuits				5	5
Loss Contingency, Number of Claimants				400	400
Product Liability Litigation [Member] \| Actos [Member]
Loss Contingency, Number of Cases				6,500	6,500
Product Liability Litigation [Member] \| Damages from Product, Cancer [Member] \| Byetta [Member]
Loss Contingency, Number of Lawsuits				465	465
Loss Contingency, Number of Plaintiffs				700	700
Product Liability Litigation [Member] \| CANADA \| Actos [Member]
Loss Contingency, Number of Cases				4	4
Product Liability Litigation [Member] \| ONTARIO \| Actos [Member]
Loss Contingency, Number of Cases				2	2
Product Liability Litigation [Member] \| QUEBEC \| Actos [Member]
Loss Contingency, Number of Cases				1	1
Product Liability Litigation [Member] \| ALBERTA \| Actos [Member]
Loss Contingency, Number of Cases				1	1
Product Liability Litigation [Member] \| CALIFORNIA \| Byetta [Member]
Loss Contingency, Number of Lawsuits				90	90
Loss Contingency, Number of Plaintiffs				470	470
Product Liability Litigation [Member] \| CALIFORNIA \| Cymbalta [Member]
Loss Contingency, Number of Lawsuits				40	40
Product Liability Litigation [Member] \| Other states [Member] \| Byetta [Member]
Loss Contingency, Number of Lawsuits				5	5
Loss Contingency, Number of Plaintiffs				5	5
Lilly Portion [Member] \| Punitive Damages [Member] \| Actos [Member]
Loss Contingency, Damages Awarded, Value			$ 9
Takeda Portion [Member] \| Punitive Damages [Member] \| Actos [Member]
Loss Contingency, Damages Awarded, Value			$ 28
Takeda Portion [Member] \| Product Liability Litigation [Member] \| Actos [Member]
Litigation Settlement, Amount		$ 2,400
Employee Litigation [Member] \| Brazil [Member]
Loss Contingency, Number of Lawsuits				30	30
Loss Contingency, Damages Awarded, Value				$ 310	R$ 1.0

Other Comprehensive Income (Loss) Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2016

Jun. 30, 2015

Jun. 30, 2016

Jun. 30, 2015

Mar. 31, 2016

Dec. 31, 2015

Mar. 31, 2015

Dec. 31, 2014

Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax

$ 74.5

Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax

$ (26.0)

$ 11.8

1.7

$ 11.8

Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Prior Service Cost Arising During Period, before Tax

^[1]

(21.7)

(19.0)

(37.1)

(38.1)

Accumulated other comprehensive loss

(4,371.2)

(4,403.2)

(4,371.2)

(4,403.2)

$ (4,264.7)

$ (4,580.7)

$ (4,657.5)

$ (3,991.8)

Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax

(156.4)

223.5

44.0

(486.4)

Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment Realized upon Sale or Liquidation, Net of Tax

49.9

30.8

165.5

75.0

Other comprehensive income (loss), net of tax

(106.5)

254.3

209.5

(411.4)

Other Comprehensive Income (Loss), Reclassification, Pension and Other Postretirement Benefit Plans, Net Gain (Loss) Recognized in Net Periodic Benefit Cost, before Tax

^[1]

79.2

100.4

152.7

202.2

Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, before Tax

57.5

81.4

115.6

164.1

Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net (Gain) Loss, Tax

(20.1)

(27.0)

(43.1)

(56.0)

Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net (Gain) Loss, Net of Tax

37.4

54.4

72.5

108.1

Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax

(0.3)

(46.1)

5.2

(64.4)

Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI for Write-down of Securities, before Tax

15.9

6.2

15.9

6.2

Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, before Tax

15.6

(39.9)

21.1

(58.2)

Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax

(5.5)

14.0

(7.4)

20.4

Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax

10.1

(25.9)

13.7

(37.8)

Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Tax

(10.2)

18.6

(14.4)

(11.4)

Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, before Reclassification Adjustments, Tax

(21.8)

(20.3)

(47.5)

(62.8)

Other Comprehensive Income, Other, Net of Tax

^[2]

2.4

2.3

79.3

4.7

Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax

(0.1)

(1.3)

(1.4)

17.2

Other Comprehensive Income (Loss), Tax

(58.1)

8.8

(61.6)

(45.2)

Accumulated Translation Adjustment [Member]

Accumulated other comprehensive loss

(1,273.0)

(1,037.6)

(1,273.0)

(1,037.6)

(1,085.4)

(1,360.2)

(1,294.4)

(498.4)

Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax

(187.6)

256.8

12.7

(539.2)

Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment Realized upon Sale or Liquidation, Net of Tax

0.0

74.5

0.0

Other comprehensive income (loss), net of tax

(187.6)

256.8

87.2

(539.2)

Accumulated Net Unrealized Investment Gain (Loss) [Member]

Accumulated other comprehensive loss

36.8

121.0

36.8

121.0

17.9

10.1

155.6

99.7

Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax

8.8

(8.7)

13.0

59.1

Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment Realized upon Sale or Liquidation, Net of Tax

10.1

(25.9)

13.7

(37.8)

Other comprehensive income (loss), net of tax

18.9

(34.6)

26.7

21.3

Accumulated Defined Benefit Plans Adjustment [Member]

Accumulated other comprehensive loss

(2,919.1)

(3,263.3)

(2,919.1)

(3,263.3)

(2,981.1)

(3,012.1)

(3,293.1)

(3,402.0)

Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax

24.6

(24.6)

20.5

30.6

Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment Realized upon Sale or Liquidation, Net of Tax

37.4

54.4

72.5

108.1

Other comprehensive income (loss), net of tax

62.0

29.8

93.0

138.7

Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]

Accumulated other comprehensive loss

(215.9)

(223.3)

(215.9)

(223.3)

$ (216.1)

$ (218.5)

$ (225.6)

$ (191.1)

Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax

(2.2)

0.0

(2.2)

(36.9)

Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment Realized upon Sale or Liquidation, Net of Tax

2.4

2.3

4.8

4.7

Other comprehensive income (loss), net of tax

$ 0.2

$ 2.3

$ 2.6

$ (32.2)

[1]	(1) These accumulated other comprehensive loss components are included in the computation of net periodic benefit (income) cost (see Note 9).
[2]	(2) Amount for the six months ended June 30, 2016 included primarily $74.5 million of foreign currency translation losses.

Other - Net, (Income) Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Interest Expense	$ 43.2	$ 36.8	$ 86.6	$ 77.7
Investment Income, Interest	(23.5)	(20.6)	(47.7)	(42.0)
Foreign Currency Transaction Gain (Loss), Realized	0.0	0.0	203.9	0.0
Debt extinguishment loss	0.0	166.7	0.0	166.7
Other (income)expense	(40.9)	(59.6)	(115.0)	(171.8)
Nonoperating Income (Expense), Total	$ (21.2)	$ 123.3	$ 127.8	$ 30.6

Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Segment Information (Details) - USD ($) $ in Millions	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenue	$ 5,404.8	$ 4,978.7	$ 10,269.9	$ 9,623.4
Collaboration and other revenue	208.5	233.4	390.8	429.5
Income before income taxes	944.5	679.7	1,511.3	1,297.6
Acquired in-process research and development	0.0	(80.0)	0.0	(336.0)
Asset impairment, restructuring, and other special charges	(58.0)	(72.4)	(189.4)	(180.4)
Foreign Currency Transaction Gain (Loss), Realized	0.0	0.0	(203.9)	0.0
Nonoperating Income (Expense)	21.2	(123.3)	(127.8)	(30.6)
Cost of sales	(1,465.0)	(1,218.4)	(2,788.0)	(2,411.1)
Marketing, selling, and administrative	(1,622.6)	(1,635.4)	(3,096.5)	(3,158.9)
Debt extinguishment loss	0.0	166.7	0.0	166.7
Animal Health [Member]
Income before income taxes	211.7	188.3	359.4	303.3
Animal Health Products [Member]
Revenue	859.8	840.8	1,614.4	1,590.5
Human Pharmaceutical Products [Member]
Revenue	4,545.0	4,137.9	8,655.5	8,032.9
Income before income taxes	959.4	1,016.8	1,886.3	2,099.9
Operating Segments [Member]
Income before income taxes	1,171.1	1,205.1	2,245.7	2,403.2
Corporate, Non-Segment [Member]
Acquired in-process research and development	0.0	(80.0)	0.0	(336.0)
Asset impairment, restructuring, and other special charges	(58.0)	(72.4)	(189.4)	(180.4)
Foreign Currency Transaction Gain (Loss), Realized	0.0	0.0	(203.9)	0.0
Amortization of Intangible Assets	(168.6)	(151.9)	(341.1)	(304.6)
Other Pharmaceuticals [Member] \| Human Pharmaceutical Products [Member]
Revenue	71.1	50.3	132.7	119.5
Other Endocrinology [Member] \| Human Pharmaceutical Products [Member]
Revenue	234.3	214.5	471.6	447.5
Total Endocrinology [Member] \| Human Pharmaceutical Products [Member]
Revenue	1,958.4	1,637.9	3,715.1	3,264.2
Humalog [Member] \| Human Pharmaceutical Products [Member]
Revenue	701.9	654.3	1,308.2	1,338.2
Humulin [Member] \| Human Pharmaceutical Products [Member]
Revenue	332.3	316.4	688.7	632.1
Forteo [Member] \| Human Pharmaceutical Products [Member]
Revenue	367.6	328.4	686.3	621.4
Trulicity [Member] [Member] \| Human Pharmaceutical Products [Member]
Revenue	201.3	44.3	344.9	62.6
Trajenta (BI) [Member] \| Human Pharmaceutical Products [Member]
Collaboration and other revenue	121.0	80.0	215.4	162.4
Cymbalta [Member] \| Human Pharmaceutical Products [Member]
Revenue	236.5	274.1	435.2	561.1
Zyprexa [Member] \| Human Pharmaceutical Products [Member]
Revenue	210.7	253.7	423.4	473.2
Strattera [Member] \| Human Pharmaceutical Products [Member]
Revenue	224.6	191.8	412.7	365.5
Other Neuroscience [Member] \| Human Pharmaceutical Products [Member]
Revenue	45.9	44.3	90.0	89.4
Total Neuroscience [Member] \| Human Pharmaceutical Products [Member]
Revenue	717.7	763.9	1,361.3	1,489.2
Alimta [Member] \| Human Pharmaceutical Products [Member]
Revenue	607.1	664.3	1,171.3	1,237.4
Erbitux [Member] \| Human Pharmaceutical Products [Member]
Revenue	180.6	134.6	348.6	222.8
Collaboration and other revenue	22.2	123.6	48.7	198.0
Effient [Member] \| Human Pharmaceutical Products [Member]
Revenue	135.1	128.8	266.6	250.6
Other Oncology [Member] \| Human Pharmaceutical Products [Member]
Revenue	35.8	36.0	67.1	66.2
Total Oncology [Member] \| Human Pharmaceutical Products [Member]
Revenue	970.5	922.6	1,865.0	1,681.6
Cialis [Member] \| Human Pharmaceutical Products [Member]
Revenue	630.5	567.9	1,207.2	1,106.2
Other Cardiovascular [Member] \| Human Pharmaceutical Products [Member]
Revenue	61.7	66.5	107.6	121.6
Total Cardiovascular [Member] \| Human Pharmaceutical Products [Member]
Revenue	827.3	763.2	1,581.4	1,478.4
Cyramza [Member] \| Human Pharmaceutical Products [Member]
Revenue	147.0	87.7	278.0	155.2
Fair Value Adjustment to Inventory [Member] \| Corporate, Non-Segment [Member]
Cost of sales	0.0	(68.4)	0.0	(131.9)
Long-term Debt [Member] \| Corporate, Non-Segment [Member]
Nonoperating Income (Expense)	$ 0.0	$ (152.7)	$ 0.0	$ (152.7)