v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Statement of Cash Flows [Abstract]    
Net earnings $ 697 $ 1,289
Adjustments to reconcile net earnings to net cash from operating activities:    
Depreciation 188 181
Amortization of intangible assets 1,748 1,858
Deferred income taxes 137 (28)
Change in fair value of contingent consideration liabilities 2,387 1,518
Payments of contingent consideration liabilities (722) (549)
Stock-based compensation 444 410
Acquired IPR&D and milestones 744 248
Non-cash litigation reserve adjustments, net of cash payments 150 (729)
Other, net (22) 17
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable 87 (1,479)
Inventories (184) (155)
Prepaid expenses and other assets (150) (628)
Accounts payable and other liabilities (1,594) (696)
Income tax assets and liabilities, net (81) 378
Cash flows from operating activities 3,829 1,635
Cash flows from investing activities    
Acquisitions of businesses, net of cash acquired 0 (204)
Other acquisitions and investments, net of cash acquired (266) (334)
Acquisitions of property and equipment (265) (235)
Other, net (43) 38
Cash flows from investing activities (574) (735)
Cash flows from financing activities    
Net change in commercial paper borrowings with original maturities of three months or less (499) 1,593
Repayments of other short-term borrowings (2,000) 0
Proceeds from issuance of long-term debt 7,991 3,994
Repayments of long-term debt 0 (3,026)
Dividends paid (3,086) (2,925)
Purchases of treasury stock (1,489) (961)
Other, net 2 67
Cash flows from financing activities 919 (1,258)
Effect of exchange rate changes on cash and equivalents (12) 9
Net change in cash and equivalents 4,162 (349)
Cash and equivalents, beginning of period 5,229 5,524
Cash and equivalents, end of period $ 9,391 $ 5,175