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Absent regulatory or statutory limitations, the target asset allocation for the investment of pension assets in the PSAs for the Europe Plans is 21 % overseas equity, 21 % diversified alternatives, 15 % real estate, 24 % equity-linked liability driven investments, 11 % other liability driven investments and 8 % cash for the Tulip Pension Plan; and 23 % global equities, 11 % equity-linked liability driven investments, 15 % liability driven investments, 16 % corporate bonds and 35 % cash for the Geo Adams Group Pension Fund. The plans only invest in fixed income and equity instruments for which there is a readily available public market. The Company develops its expected long-term rate of return assumptions based on the historical rates of returns for equity and fixed income securities of the type in which its plans invest. | text | 16 | percentItemType | text: <entity> 16 </entity> <entity type> percentItemType </entity type> <context> Absent regulatory or statutory limitations, the target asset allocation for the investment of pension assets in the PSAs for the Europe Plans is 21 % overseas equity, 21 % diversified alternatives, 15 % real estate, 24 % equity-linked liability driven investments, 11 % other liability driven investments and 8 % cash for the Tulip Pension Plan; and 23 % global equities, 11 % equity-linked liability driven investments, 15 % liability driven investments, 16 % corporate bonds and 35 % cash for the Geo Adams Group Pension Fund. The plans only invest in fixed income and equity instruments for which there is a readily available public market. The Company develops its expected long-term rate of return assumptions based on the historical rates of returns for equity and fixed income securities of the type in which its plans invest. </context> | us-gaap:DefinedBenefitPlanPlanAssetsTargetAllocationPercentage |
Absent regulatory or statutory limitations, the target asset allocation for the investment of pension assets in the PSAs for the Europe Plans is 21 % overseas equity, 21 % diversified alternatives, 15 % real estate, 24 % equity-linked liability driven investments, 11 % other liability driven investments and 8 % cash for the Tulip Pension Plan; and 23 % global equities, 11 % equity-linked liability driven investments, 15 % liability driven investments, 16 % corporate bonds and 35 % cash for the Geo Adams Group Pension Fund. The plans only invest in fixed income and equity instruments for which there is a readily available public market. The Company develops its expected long-term rate of return assumptions based on the historical rates of returns for equity and fixed income securities of the type in which its plans invest. | text | 35 | percentItemType | text: <entity> 35 </entity> <entity type> percentItemType </entity type> <context> Absent regulatory or statutory limitations, the target asset allocation for the investment of pension assets in the PSAs for the Europe Plans is 21 % overseas equity, 21 % diversified alternatives, 15 % real estate, 24 % equity-linked liability driven investments, 11 % other liability driven investments and 8 % cash for the Tulip Pension Plan; and 23 % global equities, 11 % equity-linked liability driven investments, 15 % liability driven investments, 16 % corporate bonds and 35 % cash for the Geo Adams Group Pension Fund. The plans only invest in fixed income and equity instruments for which there is a readily available public market. The Company develops its expected long-term rate of return assumptions based on the historical rates of returns for equity and fixed income securities of the type in which its plans invest. </context> | us-gaap:DefinedBenefitPlanPlanAssetsTargetAllocationPercentage |
As required by funding regulations or laws, the Company anticipates contributing $ 0.2 million and less than $ 0.2 million to its pension and other postretirement plans, respectively, during 2025. | text | 0.2 | monetaryItemType | text: <entity> 0.2 </entity> <entity type> monetaryItemType </entity type> <context> As required by funding regulations or laws, the Company anticipates contributing $ 0.2 million and less than $ 0.2 million to its pension and other postretirement plans, respectively, during 2025. </context> | us-gaap:DefinedBenefitPlanExpectedFutureEmployerContributionsNextFiscalYear |
The Company also sponsors a performance-based, omnibus long-term incentive plan that provides for the grant of a broad range of long-term equity-based and liability-based awards to the Company’s officers and other employees, members of the Board of Directors and any consultants (the “LTIP”). Awards that may be granted under the LTIP include “incentive stock options,” within the meaning of the IRC, nonqualified stock options, stock appreciation rights, restricted stock awards and restricted stock units (“RSUs”). Equity-based awards are converted into shares of the Company’s common stock shortly after award vesting. Compensation cost to be recognized for an equity-based awards grant is determined by multiplying the number of awards granted by the closing price of a share of the Company’s common stock on the award grant date. Liability-based awards granted under the LTIP are converted into cash shortly after award vesting. Compensation cost to be recognized for a liability-based awards grant is first determined by multiplying the number of awards granted by the closing price of a share of PPC’s common stock on the award grant date. However, the compensation cost to be recognized is adjusted at each subsequent milestone date (i.e., forfeiture date, vesting date or financial reporting date) by multiplying the number of awards granted by the closing price of a share of PPC’s common stock on the milestone date. On May 1, 2019, the Company’s stockholders approved the Pilgrim’s Pride Corporation 2019 Long Term Incentive Plan (the “2019 LTIP”), which replaced the expiring Pilgrim’s Pride Corporation 2009 Long-Term Incentive Plan (the “2009 LTIP”). The 2019 LTIP became effective as of December 28, 2019. As of December 29, 2024, we have in reserve less than 0.1 million shares of common stock for future issuance under the 2019 LTIP. | text | 0.1 | sharesItemType | text: <entity> 0.1 </entity> <entity type> sharesItemType </entity type> <context> The Company also sponsors a performance-based, omnibus long-term incentive plan that provides for the grant of a broad range of long-term equity-based and liability-based awards to the Company’s officers and other employees, members of the Board of Directors and any consultants (the “LTIP”). Awards that may be granted under the LTIP include “incentive stock options,” within the meaning of the IRC, nonqualified stock options, stock appreciation rights, restricted stock awards and restricted stock units (“RSUs”). Equity-based awards are converted into shares of the Company’s common stock shortly after award vesting. Compensation cost to be recognized for an equity-based awards grant is determined by multiplying the number of awards granted by the closing price of a share of the Company’s common stock on the award grant date. Liability-based awards granted under the LTIP are converted into cash shortly after award vesting. Compensation cost to be recognized for a liability-based awards grant is first determined by multiplying the number of awards granted by the closing price of a share of PPC’s common stock on the award grant date. However, the compensation cost to be recognized is adjusted at each subsequent milestone date (i.e., forfeiture date, vesting date or financial reporting date) by multiplying the number of awards granted by the closing price of a share of PPC’s common stock on the milestone date. On May 1, 2019, the Company’s stockholders approved the Pilgrim’s Pride Corporation 2019 Long Term Incentive Plan (the “2019 LTIP”), which replaced the expiring Pilgrim’s Pride Corporation 2009 Long-Term Incentive Plan (the “2009 LTIP”). The 2019 LTIP became effective as of December 28, 2019. As of December 29, 2024, we have in reserve less than 0.1 million shares of common stock for future issuance under the 2019 LTIP. </context> | us-gaap:CommonStockCapitalSharesReservedForFutureIssuance |
The total fair value of equity-based awards vested during 2024 was $ 7.1 million. No liability-based awards vested during 2024. The total fair values of equity-based awards and liability-based awards vested during 2023 were $ 9.3 million and $ 5.0 million, respectively. | text | 7.1 | monetaryItemType | text: <entity> 7.1 </entity> <entity type> monetaryItemType </entity type> <context> The total fair value of equity-based awards vested during 2024 was $ 7.1 million. No liability-based awards vested during 2024. The total fair values of equity-based awards and liability-based awards vested during 2023 were $ 9.3 million and $ 5.0 million, respectively. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue |
The total fair value of equity-based awards vested during 2024 was $ 7.1 million. No liability-based awards vested during 2024. The total fair values of equity-based awards and liability-based awards vested during 2023 were $ 9.3 million and $ 5.0 million, respectively. | text | No | monetaryItemType | text: <entity> No </entity> <entity type> monetaryItemType </entity type> <context> The total fair value of equity-based awards vested during 2024 was $ 7.1 million. No liability-based awards vested during 2024. The total fair values of equity-based awards and liability-based awards vested during 2023 were $ 9.3 million and $ 5.0 million, respectively. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue |
The total fair value of equity-based awards vested during 2024 was $ 7.1 million. No liability-based awards vested during 2024. The total fair values of equity-based awards and liability-based awards vested during 2023 were $ 9.3 million and $ 5.0 million, respectively. | text | 9.3 | monetaryItemType | text: <entity> 9.3 </entity> <entity type> monetaryItemType </entity type> <context> The total fair value of equity-based awards vested during 2024 was $ 7.1 million. No liability-based awards vested during 2024. The total fair values of equity-based awards and liability-based awards vested during 2023 were $ 9.3 million and $ 5.0 million, respectively. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue |
The total fair value of equity-based awards vested during 2024 was $ 7.1 million. No liability-based awards vested during 2024. The total fair values of equity-based awards and liability-based awards vested during 2023 were $ 9.3 million and $ 5.0 million, respectively. | text | 5.0 | monetaryItemType | text: <entity> 5.0 </entity> <entity type> monetaryItemType </entity type> <context> The total fair value of equity-based awards vested during 2024 was $ 7.1 million. No liability-based awards vested during 2024. The total fair values of equity-based awards and liability-based awards vested during 2023 were $ 9.3 million and $ 5.0 million, respectively. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue |
As of December 29, 2024, the total unrecognized compensation cost related to all nonvested equity-based awards was $ 16.9 million. This cost is expected to be recognized over a weighted average period of 1.91 years. As of December 29, 2024, the total unrecognized compensation cost related to all nonvested liability-based awards was immaterial . This cost is expected to be recognized over a weighted average period of 0.01 years. | text | 16.9 | monetaryItemType | text: <entity> 16.9 </entity> <entity type> monetaryItemType </entity type> <context> As of December 29, 2024, the total unrecognized compensation cost related to all nonvested equity-based awards was $ 16.9 million. This cost is expected to be recognized over a weighted average period of 1.91 years. As of December 29, 2024, the total unrecognized compensation cost related to all nonvested liability-based awards was immaterial . This cost is expected to be recognized over a weighted average period of 0.01 years. </context> | us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized |
As of December 29, 2024, the total unrecognized compensation cost related to all nonvested equity-based awards was $ 16.9 million. This cost is expected to be recognized over a weighted average period of 1.91 years. As of December 29, 2024, the total unrecognized compensation cost related to all nonvested liability-based awards was immaterial . This cost is expected to be recognized over a weighted average period of 0.01 years. | text | immaterial | monetaryItemType | text: <entity> immaterial </entity> <entity type> monetaryItemType </entity type> <context> As of December 29, 2024, the total unrecognized compensation cost related to all nonvested equity-based awards was $ 16.9 million. This cost is expected to be recognized over a weighted average period of 1.91 years. As of December 29, 2024, the total unrecognized compensation cost related to all nonvested liability-based awards was immaterial . This cost is expected to be recognized over a weighted average period of 0.01 years. </context> | us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized |
The Company operates in three reportable segments: U.S., Europe and Mexico. The Company’s reportable segments are identified by a combination of factors, including geographic area, regulatory environment, economic environment and product portfolios. Each reportable segment is managed separately through a local management team. The results of each operating, or reportable, segment are provided to the chief operating decision maker (“CODM”) on a regular basis. The Company’s CODM is the President and Chief Executive Officer. The information provided to the CODM at the operating segment level is then used to assess performance and make decisions regarding allocation of key resources. The CODM primarily measures segment profit and evaluates performance based on operating income. The accounting policies of the segments are the same as those described in the summary of significant accounting policies. | text | three | integerItemType | text: <entity> three </entity> <entity type> integerItemType </entity type> <context> The Company operates in three reportable segments: U.S., Europe and Mexico. The Company’s reportable segments are identified by a combination of factors, including geographic area, regulatory environment, economic environment and product portfolios. Each reportable segment is managed separately through a local management team. The results of each operating, or reportable, segment are provided to the chief operating decision maker (“CODM”) on a regular basis. The Company’s CODM is the President and Chief Executive Officer. The information provided to the CODM at the operating segment level is then used to assess performance and make decisions regarding allocation of key resources. The CODM primarily measures segment profit and evaluates performance based on operating income. The accounting policies of the segments are the same as those described in the summary of significant accounting policies. </context> | us-gaap:NumberOfReportableSegments |
For the year 2024, the U.S. reportable segment had intercompany sales to the Mexico reportable segment of $ 121.6 million. These sales consisted of fresh products, prepared products and grain and are eliminated in our consolidation. | text | 121.6 | monetaryItemType | text: <entity> 121.6 </entity> <entity type> monetaryItemType </entity type> <context> For the year 2024, the U.S. reportable segment had intercompany sales to the Mexico reportable segment of $ 121.6 million. These sales consisted of fresh products, prepared products and grain and are eliminated in our consolidation. </context> | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
For the year 2023, the U.S. reportable segment had intercompany sales to the Mexico reportable segment of $ 370.1 million. These sales consisted of fresh products, prepared products, eggs and grain and are eliminated in our consolidation.. | text | 370.1 | monetaryItemType | text: <entity> 370.1 </entity> <entity type> monetaryItemType </entity type> <context> For the year 2023, the U.S. reportable segment had intercompany sales to the Mexico reportable segment of $ 370.1 million. These sales consisted of fresh products, prepared products, eggs and grain and are eliminated in our consolidation.. </context> | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
For the year 2022, the U.S. reportable segment had intercompany sales to the Mexico reportable segment of $ 120.9 million. These sales consisted of fresh products, prepared products and grain and are eliminated in our consolidation. For the year 2022, the Europe reportable segment had intercompany sales of eggs to the U.S. reportable segment of $ 5.3 million, which were eliminated in our consolidation. | text | 120.9 | monetaryItemType | text: <entity> 120.9 </entity> <entity type> monetaryItemType </entity type> <context> For the year 2022, the U.S. reportable segment had intercompany sales to the Mexico reportable segment of $ 120.9 million. These sales consisted of fresh products, prepared products and grain and are eliminated in our consolidation. For the year 2022, the Europe reportable segment had intercompany sales of eggs to the U.S. reportable segment of $ 5.3 million, which were eliminated in our consolidation. </context> | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
For the year 2022, the U.S. reportable segment had intercompany sales to the Mexico reportable segment of $ 120.9 million. These sales consisted of fresh products, prepared products and grain and are eliminated in our consolidation. For the year 2022, the Europe reportable segment had intercompany sales of eggs to the U.S. reportable segment of $ 5.3 million, which were eliminated in our consolidation. | text | 5.3 | monetaryItemType | text: <entity> 5.3 </entity> <entity type> monetaryItemType </entity type> <context> For the year 2022, the U.S. reportable segment had intercompany sales to the Mexico reportable segment of $ 120.9 million. These sales consisted of fresh products, prepared products and grain and are eliminated in our consolidation. For the year 2022, the Europe reportable segment had intercompany sales of eggs to the U.S. reportable segment of $ 5.3 million, which were eliminated in our consolidation. </context> | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
The Company will sometimes enter into noncancelable contracts to purchase capital equipment and certain commodities such as corn, soybean meal, wheat and energy. As of December 29, 2024, the Company was party to outstanding purchase contracts totaling $ 400.7 million payable in 2025, $ 23.0 million payable in 2026, $ 1.9 million payable in 2027, $ 1.8 million payable in 2028 and $ 10.7 million payable thereafter. | text | 400.7 | monetaryItemType | text: <entity> 400.7 </entity> <entity type> monetaryItemType </entity type> <context> The Company will sometimes enter into noncancelable contracts to purchase capital equipment and certain commodities such as corn, soybean meal, wheat and energy. As of December 29, 2024, the Company was party to outstanding purchase contracts totaling $ 400.7 million payable in 2025, $ 23.0 million payable in 2026, $ 1.9 million payable in 2027, $ 1.8 million payable in 2028 and $ 10.7 million payable thereafter. </context> | us-gaap:PurchaseObligationDueInNextTwelveMonths |
The Company will sometimes enter into noncancelable contracts to purchase capital equipment and certain commodities such as corn, soybean meal, wheat and energy. As of December 29, 2024, the Company was party to outstanding purchase contracts totaling $ 400.7 million payable in 2025, $ 23.0 million payable in 2026, $ 1.9 million payable in 2027, $ 1.8 million payable in 2028 and $ 10.7 million payable thereafter. | text | 23.0 | monetaryItemType | text: <entity> 23.0 </entity> <entity type> monetaryItemType </entity type> <context> The Company will sometimes enter into noncancelable contracts to purchase capital equipment and certain commodities such as corn, soybean meal, wheat and energy. As of December 29, 2024, the Company was party to outstanding purchase contracts totaling $ 400.7 million payable in 2025, $ 23.0 million payable in 2026, $ 1.9 million payable in 2027, $ 1.8 million payable in 2028 and $ 10.7 million payable thereafter. </context> | us-gaap:PurchaseObligationDueInSecondYear |
The Company will sometimes enter into noncancelable contracts to purchase capital equipment and certain commodities such as corn, soybean meal, wheat and energy. As of December 29, 2024, the Company was party to outstanding purchase contracts totaling $ 400.7 million payable in 2025, $ 23.0 million payable in 2026, $ 1.9 million payable in 2027, $ 1.8 million payable in 2028 and $ 10.7 million payable thereafter. | text | 1.9 | monetaryItemType | text: <entity> 1.9 </entity> <entity type> monetaryItemType </entity type> <context> The Company will sometimes enter into noncancelable contracts to purchase capital equipment and certain commodities such as corn, soybean meal, wheat and energy. As of December 29, 2024, the Company was party to outstanding purchase contracts totaling $ 400.7 million payable in 2025, $ 23.0 million payable in 2026, $ 1.9 million payable in 2027, $ 1.8 million payable in 2028 and $ 10.7 million payable thereafter. </context> | us-gaap:PurchaseObligationDueInThirdYear |
The Company will sometimes enter into noncancelable contracts to purchase capital equipment and certain commodities such as corn, soybean meal, wheat and energy. As of December 29, 2024, the Company was party to outstanding purchase contracts totaling $ 400.7 million payable in 2025, $ 23.0 million payable in 2026, $ 1.9 million payable in 2027, $ 1.8 million payable in 2028 and $ 10.7 million payable thereafter. | text | 1.8 | monetaryItemType | text: <entity> 1.8 </entity> <entity type> monetaryItemType </entity type> <context> The Company will sometimes enter into noncancelable contracts to purchase capital equipment and certain commodities such as corn, soybean meal, wheat and energy. As of December 29, 2024, the Company was party to outstanding purchase contracts totaling $ 400.7 million payable in 2025, $ 23.0 million payable in 2026, $ 1.9 million payable in 2027, $ 1.8 million payable in 2028 and $ 10.7 million payable thereafter. </context> | us-gaap:PurchaseObligationDueInFourthYear |
The Company will sometimes enter into noncancelable contracts to purchase capital equipment and certain commodities such as corn, soybean meal, wheat and energy. As of December 29, 2024, the Company was party to outstanding purchase contracts totaling $ 400.7 million payable in 2025, $ 23.0 million payable in 2026, $ 1.9 million payable in 2027, $ 1.8 million payable in 2028 and $ 10.7 million payable thereafter. | text | 10.7 | monetaryItemType | text: <entity> 10.7 </entity> <entity type> monetaryItemType </entity type> <context> The Company will sometimes enter into noncancelable contracts to purchase capital equipment and certain commodities such as corn, soybean meal, wheat and energy. As of December 29, 2024, the Company was party to outstanding purchase contracts totaling $ 400.7 million payable in 2025, $ 23.0 million payable in 2026, $ 1.9 million payable in 2027, $ 1.8 million payable in 2028 and $ 10.7 million payable thereafter. </context> | us-gaap:PurchaseObligationDueAfterFifthYear |
During 2014 and 2015, the Mexican Tax Administration Service (“SAT”) opened a review of Avícola with regard to tax years 2009 and 2010. In both instances, the SAT claims that controlled company status did not exist for certain subsidiaries because Avícola did not own 50% of the shares in voting rights of Incubadora Hidalgo, S. de R.L de C.V. and Comercializadora de Carnes de México S. de R.L de C.V. (both in 2009) and Pilgrim’s Pride, S. de R.L. de C.V. (in 2010). Avícola appealed the opinion, and on January 31, 2023, the appeal as to tax year 2009 was dismissed by the Mexico Supreme Court. Accordingly, during 2023 Avícola paid $ 25.9 million for tax year 2009. The opinion for tax year 2010 is still under appeal. Accordingly, Avícola has an accrual of $ 14.4 million as of December 29, 2024 with regard to the tax year 2010. | text | 25.9 | monetaryItemType | text: <entity> 25.9 </entity> <entity type> monetaryItemType </entity type> <context> During 2014 and 2015, the Mexican Tax Administration Service (“SAT”) opened a review of Avícola with regard to tax years 2009 and 2010. In both instances, the SAT claims that controlled company status did not exist for certain subsidiaries because Avícola did not own 50% of the shares in voting rights of Incubadora Hidalgo, S. de R.L de C.V. and Comercializadora de Carnes de México S. de R.L de C.V. (both in 2009) and Pilgrim’s Pride, S. de R.L. de C.V. (in 2010). Avícola appealed the opinion, and on January 31, 2023, the appeal as to tax year 2009 was dismissed by the Mexico Supreme Court. Accordingly, during 2023 Avícola paid $ 25.9 million for tax year 2009. The opinion for tax year 2010 is still under appeal. Accordingly, Avícola has an accrual of $ 14.4 million as of December 29, 2024 with regard to the tax year 2010. </context> | us-gaap:TaxAdjustmentsSettlementsAndUnusualProvisions |
During 2014 and 2015, the Mexican Tax Administration Service (“SAT”) opened a review of Avícola with regard to tax years 2009 and 2010. In both instances, the SAT claims that controlled company status did not exist for certain subsidiaries because Avícola did not own 50% of the shares in voting rights of Incubadora Hidalgo, S. de R.L de C.V. and Comercializadora de Carnes de México S. de R.L de C.V. (both in 2009) and Pilgrim’s Pride, S. de R.L. de C.V. (in 2010). Avícola appealed the opinion, and on January 31, 2023, the appeal as to tax year 2009 was dismissed by the Mexico Supreme Court. Accordingly, during 2023 Avícola paid $ 25.9 million for tax year 2009. The opinion for tax year 2010 is still under appeal. Accordingly, Avícola has an accrual of $ 14.4 million as of December 29, 2024 with regard to the tax year 2010. | text | 14.4 | monetaryItemType | text: <entity> 14.4 </entity> <entity type> monetaryItemType </entity type> <context> During 2014 and 2015, the Mexican Tax Administration Service (“SAT”) opened a review of Avícola with regard to tax years 2009 and 2010. In both instances, the SAT claims that controlled company status did not exist for certain subsidiaries because Avícola did not own 50% of the shares in voting rights of Incubadora Hidalgo, S. de R.L de C.V. and Comercializadora de Carnes de México S. de R.L de C.V. (both in 2009) and Pilgrim’s Pride, S. de R.L. de C.V. (in 2010). Avícola appealed the opinion, and on January 31, 2023, the appeal as to tax year 2009 was dismissed by the Mexico Supreme Court. Accordingly, during 2023 Avícola paid $ 25.9 million for tax year 2009. The opinion for tax year 2010 is still under appeal. Accordingly, Avícola has an accrual of $ 14.4 million as of December 29, 2024 with regard to the tax year 2010. </context> | us-gaap:TaxesPayableCurrentAndNoncurrent |
On May 12, 2022, the SAT issued tax assessments against Pilgrim’s Pride, S. de R.L. de C.V. and Provemex Holdings, LLC in connection with PPC’s acquisition of Tyson de México. The Mexican subsidiaries of PPC filed a petition to nullify these assessments. The District Court issued a judgement on January 20, 2025, in which the court now claims that the seller owed tax due to the indirect transfer of Mexican assets in connection with the sale, and that PPC or its subsidiaries should have withheld such taxes, but also noted that only one of the assessments will proceed. PPC will appeal and will continue to defend this matter. The amount under appeal for the remaining assessment is approximately $ 269.5 million. No expense has been recorded for this amount at this time, and PPC have submitted an indemnification claim notice pursuant to the definitive agreement to acquire Tyson de México. There can be no assurances as to whether the indemnification claim will be successful or in what amounts. | text | 269.5 | monetaryItemType | text: <entity> 269.5 </entity> <entity type> monetaryItemType </entity type> <context> On May 12, 2022, the SAT issued tax assessments against Pilgrim’s Pride, S. de R.L. de C.V. and Provemex Holdings, LLC in connection with PPC’s acquisition of Tyson de México. The Mexican subsidiaries of PPC filed a petition to nullify these assessments. The District Court issued a judgement on January 20, 2025, in which the court now claims that the seller owed tax due to the indirect transfer of Mexican assets in connection with the sale, and that PPC or its subsidiaries should have withheld such taxes, but also noted that only one of the assessments will proceed. PPC will appeal and will continue to defend this matter. The amount under appeal for the remaining assessment is approximately $ 269.5 million. No expense has been recorded for this amount at this time, and PPC have submitted an indemnification claim notice pursuant to the definitive agreement to acquire Tyson de México. There can be no assurances as to whether the indemnification claim will be successful or in what amounts. </context> | us-gaap:LossContingencyEstimateOfPossibleLoss |
On May 12, 2022, the SAT issued tax assessments against Pilgrim’s Pride, S. de R.L. de C.V. and Provemex Holdings, LLC in connection with PPC’s acquisition of Tyson de México. The Mexican subsidiaries of PPC filed a petition to nullify these assessments. The District Court issued a judgement on January 20, 2025, in which the court now claims that the seller owed tax due to the indirect transfer of Mexican assets in connection with the sale, and that PPC or its subsidiaries should have withheld such taxes, but also noted that only one of the assessments will proceed. PPC will appeal and will continue to defend this matter. The amount under appeal for the remaining assessment is approximately $ 269.5 million. No expense has been recorded for this amount at this time, and PPC have submitted an indemnification claim notice pursuant to the definitive agreement to acquire Tyson de México. There can be no assurances as to whether the indemnification claim will be successful or in what amounts. | text | No | monetaryItemType | text: <entity> No </entity> <entity type> monetaryItemType </entity type> <context> On May 12, 2022, the SAT issued tax assessments against Pilgrim’s Pride, S. de R.L. de C.V. and Provemex Holdings, LLC in connection with PPC’s acquisition of Tyson de México. The Mexican subsidiaries of PPC filed a petition to nullify these assessments. The District Court issued a judgement on January 20, 2025, in which the court now claims that the seller owed tax due to the indirect transfer of Mexican assets in connection with the sale, and that PPC or its subsidiaries should have withheld such taxes, but also noted that only one of the assessments will proceed. PPC will appeal and will continue to defend this matter. The amount under appeal for the remaining assessment is approximately $ 269.5 million. No expense has been recorded for this amount at this time, and PPC have submitted an indemnification claim notice pursuant to the definitive agreement to acquire Tyson de México. There can be no assurances as to whether the indemnification claim will be successful or in what amounts. </context> | us-gaap:LossContingencyLossInPeriod |
In 2019 and 2020, the UK Revenue & Customs Authority (HMRC) opened reviews of the 2017 and 2018 tax returns of Onix Investments UK Ltd in which HMRC evaluated the deductibility of certain interest related expenses incurred by Onix Investments UK Ltd (the “Deductions”). The Deductions total $ 7.9 million for tax year 2017 and $ 32.1 million for tax year | text | 7.9 | monetaryItemType | text: <entity> 7.9 </entity> <entity type> monetaryItemType </entity type> <context> In 2019 and 2020, the UK Revenue & Customs Authority (HMRC) opened reviews of the 2017 and 2018 tax returns of Onix Investments UK Ltd in which HMRC evaluated the deductibility of certain interest related expenses incurred by Onix Investments UK Ltd (the “Deductions”). The Deductions total $ 7.9 million for tax year 2017 and $ 32.1 million for tax year </context> | us-gaap:IncomeTaxExaminationEstimateOfPossibleLoss |
In 2019 and 2020, the UK Revenue & Customs Authority (HMRC) opened reviews of the 2017 and 2018 tax returns of Onix Investments UK Ltd in which HMRC evaluated the deductibility of certain interest related expenses incurred by Onix Investments UK Ltd (the “Deductions”). The Deductions total $ 7.9 million for tax year 2017 and $ 32.1 million for tax year | text | 32.1 | monetaryItemType | text: <entity> 32.1 </entity> <entity type> monetaryItemType </entity type> <context> In 2019 and 2020, the UK Revenue & Customs Authority (HMRC) opened reviews of the 2017 and 2018 tax returns of Onix Investments UK Ltd in which HMRC evaluated the deductibility of certain interest related expenses incurred by Onix Investments UK Ltd (the “Deductions”). The Deductions total $ 7.9 million for tax year 2017 and $ 32.1 million for tax year </context> | us-gaap:IncomeTaxExaminationEstimateOfPossibleLoss |
Case No. 1:16-cv-08637 (the “Broiler Antitrust Litigation”). The complaints seek, among other relief, treble damages for an alleged conspiracy among defendants to reduce output and increase prices of broiler chickens from the period of January 2008 to the present. PPC has entered into agreements to settle all claims made by the three certified classes for an aggregate total of $ 195.5 million, each of which has received final approval from the Illinois Court. PPC continues to defend itself against the direct-action plaintiffs as well as parties that have opted out of the class settlements (collectively, the “Broiler Opt Outs”). PPC will seek reasonable settlements with the Broiler Opt Outs where they are available. To date, we have recognized an expense of $ 582.5 million, including a $ 45.0 million incremental increase in the three months ended December 29, 2024, to cover settlements with various Broiler Opt Outs. We have recognized these settlement expenses within | text | 195.5 | monetaryItemType | text: <entity> 195.5 </entity> <entity type> monetaryItemType </entity type> <context> Case No. 1:16-cv-08637 (the “Broiler Antitrust Litigation”). The complaints seek, among other relief, treble damages for an alleged conspiracy among defendants to reduce output and increase prices of broiler chickens from the period of January 2008 to the present. PPC has entered into agreements to settle all claims made by the three certified classes for an aggregate total of $ 195.5 million, each of which has received final approval from the Illinois Court. PPC continues to defend itself against the direct-action plaintiffs as well as parties that have opted out of the class settlements (collectively, the “Broiler Opt Outs”). PPC will seek reasonable settlements with the Broiler Opt Outs where they are available. To date, we have recognized an expense of $ 582.5 million, including a $ 45.0 million incremental increase in the three months ended December 29, 2024, to cover settlements with various Broiler Opt Outs. We have recognized these settlement expenses within </context> | us-gaap:LitigationSettlementAmountAwardedToOtherParty |
Case No. 1:16-cv-08637 (the “Broiler Antitrust Litigation”). The complaints seek, among other relief, treble damages for an alleged conspiracy among defendants to reduce output and increase prices of broiler chickens from the period of January 2008 to the present. PPC has entered into agreements to settle all claims made by the three certified classes for an aggregate total of $ 195.5 million, each of which has received final approval from the Illinois Court. PPC continues to defend itself against the direct-action plaintiffs as well as parties that have opted out of the class settlements (collectively, the “Broiler Opt Outs”). PPC will seek reasonable settlements with the Broiler Opt Outs where they are available. To date, we have recognized an expense of $ 582.5 million, including a $ 45.0 million incremental increase in the three months ended December 29, 2024, to cover settlements with various Broiler Opt Outs. We have recognized these settlement expenses within | text | 582.5 | monetaryItemType | text: <entity> 582.5 </entity> <entity type> monetaryItemType </entity type> <context> Case No. 1:16-cv-08637 (the “Broiler Antitrust Litigation”). The complaints seek, among other relief, treble damages for an alleged conspiracy among defendants to reduce output and increase prices of broiler chickens from the period of January 2008 to the present. PPC has entered into agreements to settle all claims made by the three certified classes for an aggregate total of $ 195.5 million, each of which has received final approval from the Illinois Court. PPC continues to defend itself against the direct-action plaintiffs as well as parties that have opted out of the class settlements (collectively, the “Broiler Opt Outs”). PPC will seek reasonable settlements with the Broiler Opt Outs where they are available. To date, we have recognized an expense of $ 582.5 million, including a $ 45.0 million incremental increase in the three months ended December 29, 2024, to cover settlements with various Broiler Opt Outs. We have recognized these settlement expenses within </context> | us-gaap:LitigationSettlementExpense |
Case No. 1:16-cv-08637 (the “Broiler Antitrust Litigation”). The complaints seek, among other relief, treble damages for an alleged conspiracy among defendants to reduce output and increase prices of broiler chickens from the period of January 2008 to the present. PPC has entered into agreements to settle all claims made by the three certified classes for an aggregate total of $ 195.5 million, each of which has received final approval from the Illinois Court. PPC continues to defend itself against the direct-action plaintiffs as well as parties that have opted out of the class settlements (collectively, the “Broiler Opt Outs”). PPC will seek reasonable settlements with the Broiler Opt Outs where they are available. To date, we have recognized an expense of $ 582.5 million, including a $ 45.0 million incremental increase in the three months ended December 29, 2024, to cover settlements with various Broiler Opt Outs. We have recognized these settlement expenses within | text | 45.0 | monetaryItemType | text: <entity> 45.0 </entity> <entity type> monetaryItemType </entity type> <context> Case No. 1:16-cv-08637 (the “Broiler Antitrust Litigation”). The complaints seek, among other relief, treble damages for an alleged conspiracy among defendants to reduce output and increase prices of broiler chickens from the period of January 2008 to the present. PPC has entered into agreements to settle all claims made by the three certified classes for an aggregate total of $ 195.5 million, each of which has received final approval from the Illinois Court. PPC continues to defend itself against the direct-action plaintiffs as well as parties that have opted out of the class settlements (collectively, the “Broiler Opt Outs”). PPC will seek reasonable settlements with the Broiler Opt Outs where they are available. To date, we have recognized an expense of $ 582.5 million, including a $ 45.0 million incremental increase in the three months ended December 29, 2024, to cover settlements with various Broiler Opt Outs. We have recognized these settlement expenses within </context> | us-gaap:LitigationSettlementGain |
No.19-cv-02521. The plaintiffs are a putative class of poultry processing plant production and maintenance workers (“Poultry Workers Class”) and allege that the defendants conspired to fix and depress the compensation paid to Poultry Workers Class in violation of the Sherman Antitrust Act. PPC entered into an agreement to settle all claims made by the Poultry Workers Class for $ 29.0 million and paid the plaintiffs this amount during 2021, though the agreement is still subject to final approval by the Maryland Court. We have recognized these settlement expenses within | text | 29.0 | monetaryItemType | text: <entity> 29.0 </entity> <entity type> monetaryItemType </entity type> <context> No.19-cv-02521. The plaintiffs are a putative class of poultry processing plant production and maintenance workers (“Poultry Workers Class”) and allege that the defendants conspired to fix and depress the compensation paid to Poultry Workers Class in violation of the Sherman Antitrust Act. PPC entered into an agreement to settle all claims made by the Poultry Workers Class for $ 29.0 million and paid the plaintiffs this amount during 2021, though the agreement is still subject to final approval by the Maryland Court. We have recognized these settlement expenses within </context> | us-gaap:LitigationSettlementAmountAwardedToOtherParty |
, Case No. CIV-17-033. On June 24, 2024, a settlement was reached in the amount of $ 100.0 million. This settlement was paid on October 28, 2024. We have recognized these settlement expenses within | text | 100.0 | monetaryItemType | text: <entity> 100.0 </entity> <entity type> monetaryItemType </entity type> <context> , Case No. CIV-17-033. On June 24, 2024, a settlement was reached in the amount of $ 100.0 million. This settlement was paid on October 28, 2024. We have recognized these settlement expenses within </context> | us-gaap:LitigationSettlementGain |
, No. 16-CV-02611. The complaint alleges, among other things, that PPC’s SEC filings contained statements that were rendered materially false and misleading. On December 6, 2024, the Company entered into a settlement agreement in principal with the putative class in the amount of $ 41.5 million, which is subject to court approval. We have recognized this expense in | text | 41.5 | monetaryItemType | text: <entity> 41.5 </entity> <entity type> monetaryItemType </entity type> <context> , No. 16-CV-02611. The complaint alleges, among other things, that PPC’s SEC filings contained statements that were rendered materially false and misleading. On December 6, 2024, the Company entered into a settlement agreement in principal with the putative class in the amount of $ 41.5 million, which is subject to court approval. We have recognized this expense in </context> | us-gaap:LitigationSettlementExpense |
, 21-2-14174-5), respectively, filed complaints against PPC and others based on allegations similar to those asserted in the Broiler Antitrust Litigation. The State of Washington settlement was paid in the second quarter of 2023 for $ 11.0 million. On June 24, 2024, PPC entered into a settlement with the Attorney General in New Mexico for $ 5.2 million. The State of New Mexico settlement was paid in the third quarter of 2024. On July 3, 2024, PPC entered into a settlement with Attorney General in Alaska for $ 1.25 million, and this amount was paid on July 10, 2024. These settlements were recognized in | text | 11.0 | monetaryItemType | text: <entity> 11.0 </entity> <entity type> monetaryItemType </entity type> <context> , 21-2-14174-5), respectively, filed complaints against PPC and others based on allegations similar to those asserted in the Broiler Antitrust Litigation. The State of Washington settlement was paid in the second quarter of 2023 for $ 11.0 million. On June 24, 2024, PPC entered into a settlement with the Attorney General in New Mexico for $ 5.2 million. The State of New Mexico settlement was paid in the third quarter of 2024. On July 3, 2024, PPC entered into a settlement with Attorney General in Alaska for $ 1.25 million, and this amount was paid on July 10, 2024. These settlements were recognized in </context> | us-gaap:LossContingencyAccrualAtCarryingValue |
, 21-2-14174-5), respectively, filed complaints against PPC and others based on allegations similar to those asserted in the Broiler Antitrust Litigation. The State of Washington settlement was paid in the second quarter of 2023 for $ 11.0 million. On June 24, 2024, PPC entered into a settlement with the Attorney General in New Mexico for $ 5.2 million. The State of New Mexico settlement was paid in the third quarter of 2024. On July 3, 2024, PPC entered into a settlement with Attorney General in Alaska for $ 1.25 million, and this amount was paid on July 10, 2024. These settlements were recognized in | text | 5.2 | monetaryItemType | text: <entity> 5.2 </entity> <entity type> monetaryItemType </entity type> <context> , 21-2-14174-5), respectively, filed complaints against PPC and others based on allegations similar to those asserted in the Broiler Antitrust Litigation. The State of Washington settlement was paid in the second quarter of 2023 for $ 11.0 million. On June 24, 2024, PPC entered into a settlement with the Attorney General in New Mexico for $ 5.2 million. The State of New Mexico settlement was paid in the third quarter of 2024. On July 3, 2024, PPC entered into a settlement with Attorney General in Alaska for $ 1.25 million, and this amount was paid on July 10, 2024. These settlements were recognized in </context> | us-gaap:LossContingencyAccrualAtCarryingValue |
, 21-2-14174-5), respectively, filed complaints against PPC and others based on allegations similar to those asserted in the Broiler Antitrust Litigation. The State of Washington settlement was paid in the second quarter of 2023 for $ 11.0 million. On June 24, 2024, PPC entered into a settlement with the Attorney General in New Mexico for $ 5.2 million. The State of New Mexico settlement was paid in the third quarter of 2024. On July 3, 2024, PPC entered into a settlement with Attorney General in Alaska for $ 1.25 million, and this amount was paid on July 10, 2024. These settlements were recognized in | text | 1.25 | monetaryItemType | text: <entity> 1.25 </entity> <entity type> monetaryItemType </entity type> <context> , 21-2-14174-5), respectively, filed complaints against PPC and others based on allegations similar to those asserted in the Broiler Antitrust Litigation. The State of Washington settlement was paid in the second quarter of 2023 for $ 11.0 million. On June 24, 2024, PPC entered into a settlement with the Attorney General in New Mexico for $ 5.2 million. The State of New Mexico settlement was paid in the third quarter of 2024. On July 3, 2024, PPC entered into a settlement with Attorney General in Alaska for $ 1.25 million, and this amount was paid on July 10, 2024. These settlements were recognized in </context> | us-gaap:LitigationSettlementExpense |
As of December 29, 2024, the aggregate carrying amount of net assets belonging to our Mexico and Europe reportable segments was $ 0.7 billion and $ 2.9 billion, respectively. As of December 31, 2023, the aggregate carrying amount of net assets belonging to our Mexico and Europe reportable segments was $ 1.3 billion and $ 3.1 billion, respectively. | text | 0.7 | monetaryItemType | text: <entity> 0.7 </entity> <entity type> monetaryItemType </entity type> <context> As of December 29, 2024, the aggregate carrying amount of net assets belonging to our Mexico and Europe reportable segments was $ 0.7 billion and $ 2.9 billion, respectively. As of December 31, 2023, the aggregate carrying amount of net assets belonging to our Mexico and Europe reportable segments was $ 1.3 billion and $ 3.1 billion, respectively. </context> | us-gaap:AssetsNet |
As of December 29, 2024, the aggregate carrying amount of net assets belonging to our Mexico and Europe reportable segments was $ 0.7 billion and $ 2.9 billion, respectively. As of December 31, 2023, the aggregate carrying amount of net assets belonging to our Mexico and Europe reportable segments was $ 1.3 billion and $ 3.1 billion, respectively. | text | 2.9 | monetaryItemType | text: <entity> 2.9 </entity> <entity type> monetaryItemType </entity type> <context> As of December 29, 2024, the aggregate carrying amount of net assets belonging to our Mexico and Europe reportable segments was $ 0.7 billion and $ 2.9 billion, respectively. As of December 31, 2023, the aggregate carrying amount of net assets belonging to our Mexico and Europe reportable segments was $ 1.3 billion and $ 3.1 billion, respectively. </context> | us-gaap:AssetsNet |
As of December 29, 2024, the aggregate carrying amount of net assets belonging to our Mexico and Europe reportable segments was $ 0.7 billion and $ 2.9 billion, respectively. As of December 31, 2023, the aggregate carrying amount of net assets belonging to our Mexico and Europe reportable segments was $ 1.3 billion and $ 3.1 billion, respectively. | text | 1.3 | monetaryItemType | text: <entity> 1.3 </entity> <entity type> monetaryItemType </entity type> <context> As of December 29, 2024, the aggregate carrying amount of net assets belonging to our Mexico and Europe reportable segments was $ 0.7 billion and $ 2.9 billion, respectively. As of December 31, 2023, the aggregate carrying amount of net assets belonging to our Mexico and Europe reportable segments was $ 1.3 billion and $ 3.1 billion, respectively. </context> | us-gaap:AssetsNet |
As of December 29, 2024, the aggregate carrying amount of net assets belonging to our Mexico and Europe reportable segments was $ 0.7 billion and $ 2.9 billion, respectively. As of December 31, 2023, the aggregate carrying amount of net assets belonging to our Mexico and Europe reportable segments was $ 1.3 billion and $ 3.1 billion, respectively. | text | 3.1 | monetaryItemType | text: <entity> 3.1 </entity> <entity type> monetaryItemType </entity type> <context> As of December 29, 2024, the aggregate carrying amount of net assets belonging to our Mexico and Europe reportable segments was $ 0.7 billion and $ 2.9 billion, respectively. As of December 31, 2023, the aggregate carrying amount of net assets belonging to our Mexico and Europe reportable segments was $ 1.3 billion and $ 3.1 billion, respectively. </context> | us-gaap:AssetsNet |
Advertising and product promotion costs are expensed as incurred. Advertising and product promotion costs are included in Marketing, selling and administrative expenses and were approximately $ 1.4 billion in 2023 and $ 1.3 billion in 2022 and 2021. | text | 1.4 | monetaryItemType | text: <entity> 1.4 </entity> <entity type> monetaryItemType </entity type> <context> Advertising and product promotion costs are expensed as incurred. Advertising and product promotion costs are included in Marketing, selling and administrative expenses and were approximately $ 1.4 billion in 2023 and $ 1.3 billion in 2022 and 2021. </context> | us-gaap:MarketingAndAdvertisingExpense |
Contract assets are primarily estimated future royalties and termination fees not eligible for the licensing exclusion and therefore recognized under ASC 606 and ASC 610. Contract assets are reduced and receivables are increased in the period the underlying sales occur. Cumulative catch-up adjustments to revenue affecting contract assets or contract liabilities were not material during the years ended December 31, 2023, 2022 and 2021. Revenue recognized from performance obligations satisfied in prior periods was $ 462 million in 2023, $ 556 million in 2022, and $ 561 million in 2021 consisting primarily of revised estimates for GTN adjustments related to prior period sales and royalties from out-licensing arrangements. | text | 462 | monetaryItemType | text: <entity> 462 </entity> <entity type> monetaryItemType </entity type> <context> Contract assets are primarily estimated future royalties and termination fees not eligible for the licensing exclusion and therefore recognized under ASC 606 and ASC 610. Contract assets are reduced and receivables are increased in the period the underlying sales occur. Cumulative catch-up adjustments to revenue affecting contract assets or contract liabilities were not material during the years ended December 31, 2023, 2022 and 2021. Revenue recognized from performance obligations satisfied in prior periods was $ 462 million in 2023, $ 556 million in 2022, and $ 561 million in 2021 consisting primarily of revised estimates for GTN adjustments related to prior period sales and royalties from out-licensing arrangements. </context> | us-gaap:ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod |
Contract assets are primarily estimated future royalties and termination fees not eligible for the licensing exclusion and therefore recognized under ASC 606 and ASC 610. Contract assets are reduced and receivables are increased in the period the underlying sales occur. Cumulative catch-up adjustments to revenue affecting contract assets or contract liabilities were not material during the years ended December 31, 2023, 2022 and 2021. Revenue recognized from performance obligations satisfied in prior periods was $ 462 million in 2023, $ 556 million in 2022, and $ 561 million in 2021 consisting primarily of revised estimates for GTN adjustments related to prior period sales and royalties from out-licensing arrangements. | text | 556 | monetaryItemType | text: <entity> 556 </entity> <entity type> monetaryItemType </entity type> <context> Contract assets are primarily estimated future royalties and termination fees not eligible for the licensing exclusion and therefore recognized under ASC 606 and ASC 610. Contract assets are reduced and receivables are increased in the period the underlying sales occur. Cumulative catch-up adjustments to revenue affecting contract assets or contract liabilities were not material during the years ended December 31, 2023, 2022 and 2021. Revenue recognized from performance obligations satisfied in prior periods was $ 462 million in 2023, $ 556 million in 2022, and $ 561 million in 2021 consisting primarily of revised estimates for GTN adjustments related to prior period sales and royalties from out-licensing arrangements. </context> | us-gaap:ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod |
Contract assets are primarily estimated future royalties and termination fees not eligible for the licensing exclusion and therefore recognized under ASC 606 and ASC 610. Contract assets are reduced and receivables are increased in the period the underlying sales occur. Cumulative catch-up adjustments to revenue affecting contract assets or contract liabilities were not material during the years ended December 31, 2023, 2022 and 2021. Revenue recognized from performance obligations satisfied in prior periods was $ 462 million in 2023, $ 556 million in 2022, and $ 561 million in 2021 consisting primarily of revised estimates for GTN adjustments related to prior period sales and royalties from out-licensing arrangements. | text | 561 | monetaryItemType | text: <entity> 561 </entity> <entity type> monetaryItemType </entity type> <context> Contract assets are primarily estimated future royalties and termination fees not eligible for the licensing exclusion and therefore recognized under ASC 606 and ASC 610. Contract assets are reduced and receivables are increased in the period the underlying sales occur. Cumulative catch-up adjustments to revenue affecting contract assets or contract liabilities were not material during the years ended December 31, 2023, 2022 and 2021. Revenue recognized from performance obligations satisfied in prior periods was $ 462 million in 2023, $ 556 million in 2022, and $ 561 million in 2021 consisting primarily of revised estimates for GTN adjustments related to prior period sales and royalties from out-licensing arrangements. </context> | us-gaap:ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod |
in the U.S. were $ 358 million, $ 297 million and $ 158 million; and the related profit sharing costs were $ 109 million, $ 49 million and $ 42 million in 2023, 2022 and 2021, respectively. Cost reimbursements were not material. | text | 358 | monetaryItemType | text: <entity> 358 </entity> <entity type> monetaryItemType </entity type> <context> in the U.S. were $ 358 million, $ 297 million and $ 158 million; and the related profit sharing costs were $ 109 million, $ 49 million and $ 42 million in 2023, 2022 and 2021, respectively. Cost reimbursements were not material. </context> | us-gaap:Revenues |
in the U.S. were $ 358 million, $ 297 million and $ 158 million; and the related profit sharing costs were $ 109 million, $ 49 million and $ 42 million in 2023, 2022 and 2021, respectively. Cost reimbursements were not material. | text | 297 | monetaryItemType | text: <entity> 297 </entity> <entity type> monetaryItemType </entity type> <context> in the U.S. were $ 358 million, $ 297 million and $ 158 million; and the related profit sharing costs were $ 109 million, $ 49 million and $ 42 million in 2023, 2022 and 2021, respectively. Cost reimbursements were not material. </context> | us-gaap:Revenues |
in the U.S. were $ 358 million, $ 297 million and $ 158 million; and the related profit sharing costs were $ 109 million, $ 49 million and $ 42 million in 2023, 2022 and 2021, respectively. Cost reimbursements were not material. | text | 158 | monetaryItemType | text: <entity> 158 </entity> <entity type> monetaryItemType </entity type> <context> in the U.S. were $ 358 million, $ 297 million and $ 158 million; and the related profit sharing costs were $ 109 million, $ 49 million and $ 42 million in 2023, 2022 and 2021, respectively. Cost reimbursements were not material. </context> | us-gaap:Revenues |
in the U.S. were $ 358 million, $ 297 million and $ 158 million; and the related profit sharing costs were $ 109 million, $ 49 million and $ 42 million in 2023, 2022 and 2021, respectively. Cost reimbursements were not material. | text | 109 | monetaryItemType | text: <entity> 109 </entity> <entity type> monetaryItemType </entity type> <context> in the U.S. were $ 358 million, $ 297 million and $ 158 million; and the related profit sharing costs were $ 109 million, $ 49 million and $ 42 million in 2023, 2022 and 2021, respectively. Cost reimbursements were not material. </context> | us-gaap:CostOfGoodsAndServicesSold |
in the U.S. were $ 358 million, $ 297 million and $ 158 million; and the related profit sharing costs were $ 109 million, $ 49 million and $ 42 million in 2023, 2022 and 2021, respectively. Cost reimbursements were not material. | text | 49 | monetaryItemType | text: <entity> 49 </entity> <entity type> monetaryItemType </entity type> <context> in the U.S. were $ 358 million, $ 297 million and $ 158 million; and the related profit sharing costs were $ 109 million, $ 49 million and $ 42 million in 2023, 2022 and 2021, respectively. Cost reimbursements were not material. </context> | us-gaap:CostOfGoodsAndServicesSold |
in the U.S. were $ 358 million, $ 297 million and $ 158 million; and the related profit sharing costs were $ 109 million, $ 49 million and $ 42 million in 2023, 2022 and 2021, respectively. Cost reimbursements were not material. | text | 42 | monetaryItemType | text: <entity> 42 </entity> <entity type> monetaryItemType </entity type> <context> in the U.S. were $ 358 million, $ 297 million and $ 158 million; and the related profit sharing costs were $ 109 million, $ 49 million and $ 42 million in 2023, 2022 and 2021, respectively. Cost reimbursements were not material. </context> | us-gaap:CostOfGoodsAndServicesSold |
BMS acquired all of the issued and outstanding shares of Mirati's common stock for $ 58.00 per share in an all-cash transaction for a total consideration of $ 4.8 billion or $ 4.1 billion, net of estimated cash acquired. Mirati stockholders will also receive one non-tradeable contingent value right for each share of Mirati common stock held, potentially worth $ 12.00 per share in cash for a total value of approximately $ 1.0 billion. The payout of the contingent value right is subject to the FDA acceptance of an NDA for MRTX1719 for the treatment of specific indications within seven years of the closing of the transaction. The transaction will be accounted for as a business combination in which all assets acquired and liabilities assumed will be recognized at fair value as of the acquisition date. The purchase price allocation of the consideration transferred to the assets acquired and liabilities assumed has not yet been finalized. The acquisition was funded through a combination of cash on hand and debt proceeds. | text | 58.00 | perShareItemType | text: <entity> 58.00 </entity> <entity type> perShareItemType </entity type> <context> BMS acquired all of the issued and outstanding shares of Mirati's common stock for $ 58.00 per share in an all-cash transaction for a total consideration of $ 4.8 billion or $ 4.1 billion, net of estimated cash acquired. Mirati stockholders will also receive one non-tradeable contingent value right for each share of Mirati common stock held, potentially worth $ 12.00 per share in cash for a total value of approximately $ 1.0 billion. The payout of the contingent value right is subject to the FDA acceptance of an NDA for MRTX1719 for the treatment of specific indications within seven years of the closing of the transaction. The transaction will be accounted for as a business combination in which all assets acquired and liabilities assumed will be recognized at fair value as of the acquisition date. The purchase price allocation of the consideration transferred to the assets acquired and liabilities assumed has not yet been finalized. The acquisition was funded through a combination of cash on hand and debt proceeds. </context> | us-gaap:BusinessAcquisitionSharePrice |
BMS acquired all of the issued and outstanding shares of Mirati's common stock for $ 58.00 per share in an all-cash transaction for a total consideration of $ 4.8 billion or $ 4.1 billion, net of estimated cash acquired. Mirati stockholders will also receive one non-tradeable contingent value right for each share of Mirati common stock held, potentially worth $ 12.00 per share in cash for a total value of approximately $ 1.0 billion. The payout of the contingent value right is subject to the FDA acceptance of an NDA for MRTX1719 for the treatment of specific indications within seven years of the closing of the transaction. The transaction will be accounted for as a business combination in which all assets acquired and liabilities assumed will be recognized at fair value as of the acquisition date. The purchase price allocation of the consideration transferred to the assets acquired and liabilities assumed has not yet been finalized. The acquisition was funded through a combination of cash on hand and debt proceeds. | text | 4.8 | monetaryItemType | text: <entity> 4.8 </entity> <entity type> monetaryItemType </entity type> <context> BMS acquired all of the issued and outstanding shares of Mirati's common stock for $ 58.00 per share in an all-cash transaction for a total consideration of $ 4.8 billion or $ 4.1 billion, net of estimated cash acquired. Mirati stockholders will also receive one non-tradeable contingent value right for each share of Mirati common stock held, potentially worth $ 12.00 per share in cash for a total value of approximately $ 1.0 billion. The payout of the contingent value right is subject to the FDA acceptance of an NDA for MRTX1719 for the treatment of specific indications within seven years of the closing of the transaction. The transaction will be accounted for as a business combination in which all assets acquired and liabilities assumed will be recognized at fair value as of the acquisition date. The purchase price allocation of the consideration transferred to the assets acquired and liabilities assumed has not yet been finalized. The acquisition was funded through a combination of cash on hand and debt proceeds. </context> | us-gaap:PaymentsToAcquireBusinessesGross |
BMS acquired all of the issued and outstanding shares of Mirati's common stock for $ 58.00 per share in an all-cash transaction for a total consideration of $ 4.8 billion or $ 4.1 billion, net of estimated cash acquired. Mirati stockholders will also receive one non-tradeable contingent value right for each share of Mirati common stock held, potentially worth $ 12.00 per share in cash for a total value of approximately $ 1.0 billion. The payout of the contingent value right is subject to the FDA acceptance of an NDA for MRTX1719 for the treatment of specific indications within seven years of the closing of the transaction. The transaction will be accounted for as a business combination in which all assets acquired and liabilities assumed will be recognized at fair value as of the acquisition date. The purchase price allocation of the consideration transferred to the assets acquired and liabilities assumed has not yet been finalized. The acquisition was funded through a combination of cash on hand and debt proceeds. | text | 4.1 | monetaryItemType | text: <entity> 4.1 </entity> <entity type> monetaryItemType </entity type> <context> BMS acquired all of the issued and outstanding shares of Mirati's common stock for $ 58.00 per share in an all-cash transaction for a total consideration of $ 4.8 billion or $ 4.1 billion, net of estimated cash acquired. Mirati stockholders will also receive one non-tradeable contingent value right for each share of Mirati common stock held, potentially worth $ 12.00 per share in cash for a total value of approximately $ 1.0 billion. The payout of the contingent value right is subject to the FDA acceptance of an NDA for MRTX1719 for the treatment of specific indications within seven years of the closing of the transaction. The transaction will be accounted for as a business combination in which all assets acquired and liabilities assumed will be recognized at fair value as of the acquisition date. The purchase price allocation of the consideration transferred to the assets acquired and liabilities assumed has not yet been finalized. The acquisition was funded through a combination of cash on hand and debt proceeds. </context> | us-gaap:BusinessCombinationConsiderationTransferred1 |
BMS acquired all of the issued and outstanding shares of Mirati's common stock for $ 58.00 per share in an all-cash transaction for a total consideration of $ 4.8 billion or $ 4.1 billion, net of estimated cash acquired. Mirati stockholders will also receive one non-tradeable contingent value right for each share of Mirati common stock held, potentially worth $ 12.00 per share in cash for a total value of approximately $ 1.0 billion. The payout of the contingent value right is subject to the FDA acceptance of an NDA for MRTX1719 for the treatment of specific indications within seven years of the closing of the transaction. The transaction will be accounted for as a business combination in which all assets acquired and liabilities assumed will be recognized at fair value as of the acquisition date. The purchase price allocation of the consideration transferred to the assets acquired and liabilities assumed has not yet been finalized. The acquisition was funded through a combination of cash on hand and debt proceeds. | text | 1.0 | monetaryItemType | text: <entity> 1.0 </entity> <entity type> monetaryItemType </entity type> <context> BMS acquired all of the issued and outstanding shares of Mirati's common stock for $ 58.00 per share in an all-cash transaction for a total consideration of $ 4.8 billion or $ 4.1 billion, net of estimated cash acquired. Mirati stockholders will also receive one non-tradeable contingent value right for each share of Mirati common stock held, potentially worth $ 12.00 per share in cash for a total value of approximately $ 1.0 billion. The payout of the contingent value right is subject to the FDA acceptance of an NDA for MRTX1719 for the treatment of specific indications within seven years of the closing of the transaction. The transaction will be accounted for as a business combination in which all assets acquired and liabilities assumed will be recognized at fair value as of the acquisition date. The purchase price allocation of the consideration transferred to the assets acquired and liabilities assumed has not yet been finalized. The acquisition was funded through a combination of cash on hand and debt proceeds. </context> | us-gaap:BusinessCombinationContingentConsiderationLiability |
BMS will acquire all of the issued and outstanding shares of Karuna's common stock for $ 330.00 per share in an all-cash transaction for a total consideration of $ 14.0 billion. The accounting treatment as a business combination or asset acquisition will be determined in the period the transaction closes. The transaction is expected to close in the first half of 2024, subject to customary closing conditions, including approval of Karuna stockholders and receipt of regulatory approvals. The acquisition will be funded primarily with future debt proceeds. | text | 14.0 | monetaryItemType | text: <entity> 14.0 </entity> <entity type> monetaryItemType </entity type> <context> BMS will acquire all of the issued and outstanding shares of Karuna's common stock for $ 330.00 per share in an all-cash transaction for a total consideration of $ 14.0 billion. The accounting treatment as a business combination or asset acquisition will be determined in the period the transaction closes. The transaction is expected to close in the first half of 2024, subject to customary closing conditions, including approval of Karuna stockholders and receipt of regulatory approvals. The acquisition will be funded primarily with future debt proceeds. </context> | us-gaap:PaymentsToAcquireBusinessesGross |
BMS will acquire all of the issued and outstanding shares of RayzeBio's common stock for $ 62.50 per share in an all-cash transaction for a total consideration of $ 4.1 billion. The transaction is expected to be accounted for as a business combination and is anticipated to close in the first half of 2024, subject to fulfillment of customary closing conditions, including receipt of required regulatory approvals. The acquisition will be funded primarily with future debt proceeds. | text | 4.1 | monetaryItemType | text: <entity> 4.1 </entity> <entity type> monetaryItemType </entity type> <context> BMS will acquire all of the issued and outstanding shares of RayzeBio's common stock for $ 62.50 per share in an all-cash transaction for a total consideration of $ 4.1 billion. The transaction is expected to be accounted for as a business combination and is anticipated to close in the first half of 2024, subject to fulfillment of customary closing conditions, including receipt of required regulatory approvals. The acquisition will be funded primarily with future debt proceeds. </context> | us-gaap:PaymentsToAcquireBusinessesGross |
In November 2023, BMS acquired the rights to Orum's ORM-6151 program, which is in preclinical development. ORM-6151 is a anti-CD33 antibody-enabled GSPT1 degrader that has received the FDA’s clearance for Phase I for the treatment of patients with acute myeloid leukemia or high-risk myelodysplastic syndromes. The consideration included an upfront payment of $ 100 million, as well as contingent development milestone payments up to $ 80 million. The upfront payment was expensed to Acquired IPRD. | text | 80 | monetaryItemType | text: <entity> 80 </entity> <entity type> monetaryItemType </entity type> <context> In November 2023, BMS acquired the rights to Orum's ORM-6151 program, which is in preclinical development. ORM-6151 is a anti-CD33 antibody-enabled GSPT1 degrader that has received the FDA’s clearance for Phase I for the treatment of patients with acute myeloid leukemia or high-risk myelodysplastic syndromes. The consideration included an upfront payment of $ 100 million, as well as contingent development milestone payments up to $ 80 million. The upfront payment was expensed to Acquired IPRD. </context> | us-gaap:AssetAcquisitionConsiderationTransferredContingentConsideration |
In 2022, BMS acquired Turning Point for $ 4.1 billion of cash (or $ 3.3 billion net of cash acquired). Turning Point was a clinical-stage precision oncology company with a pipeline of investigational medicines designed to target the common mutations and alterations that drive cancer growth. The acquisition provided BMS rights to Turning Point's lead asset, repotrectinib, and other clinical and pre-clinical stage assets. Repotrectinib was approved by the FDA in November 2023 and is marketed under the brand name | text | 4.1 | monetaryItemType | text: <entity> 4.1 </entity> <entity type> monetaryItemType </entity type> <context> In 2022, BMS acquired Turning Point for $ 4.1 billion of cash (or $ 3.3 billion net of cash acquired). Turning Point was a clinical-stage precision oncology company with a pipeline of investigational medicines designed to target the common mutations and alterations that drive cancer growth. The acquisition provided BMS rights to Turning Point's lead asset, repotrectinib, and other clinical and pre-clinical stage assets. Repotrectinib was approved by the FDA in November 2023 and is marketed under the brand name </context> | us-gaap:PaymentsToAcquireBusinessesGross |
In 2022, BMS acquired Turning Point for $ 4.1 billion of cash (or $ 3.3 billion net of cash acquired). Turning Point was a clinical-stage precision oncology company with a pipeline of investigational medicines designed to target the common mutations and alterations that drive cancer growth. The acquisition provided BMS rights to Turning Point's lead asset, repotrectinib, and other clinical and pre-clinical stage assets. Repotrectinib was approved by the FDA in November 2023 and is marketed under the brand name | text | 3.3 | monetaryItemType | text: <entity> 3.3 </entity> <entity type> monetaryItemType </entity type> <context> In 2022, BMS acquired Turning Point for $ 4.1 billion of cash (or $ 3.3 billion net of cash acquired). Turning Point was a clinical-stage precision oncology company with a pipeline of investigational medicines designed to target the common mutations and alterations that drive cancer growth. The acquisition provided BMS rights to Turning Point's lead asset, repotrectinib, and other clinical and pre-clinical stage assets. Repotrectinib was approved by the FDA in November 2023 and is marketed under the brand name </context> | us-gaap:BusinessCombinationConsiderationTransferred1 |
(a) Included unvested equity awards of $ 73 million expensed in Marketing, selling, and administrative and $ 80 million expensed in Research and development in 2022. | text | 73 | monetaryItemType | text: <entity> 73 </entity> <entity type> monetaryItemType </entity type> <context> (a) Included unvested equity awards of $ 73 million expensed in Marketing, selling, and administrative and $ 80 million expensed in Research and development in 2022. </context> | us-gaap:PaymentsToAcquireBusinessesGross |
(a) Included unvested equity awards of $ 73 million expensed in Marketing, selling, and administrative and $ 80 million expensed in Research and development in 2022. | text | 80 | monetaryItemType | text: <entity> 80 </entity> <entity type> monetaryItemType </entity type> <context> (a) Included unvested equity awards of $ 73 million expensed in Marketing, selling, and administrative and $ 80 million expensed in Research and development in 2022. </context> | us-gaap:PaymentsToAcquireBusinessesGross |
(a) Intangible assets included $ 2.8 billion of IPRD allocated to repotrectinib ( | text | 2.8 | monetaryItemType | text: <entity> 2.8 </entity> <entity type> monetaryItemType </entity type> <context> (a) Intangible assets included $ 2.8 billion of IPRD allocated to repotrectinib ( </context> | us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIndefiniteLivedIntangibleAssets |
In 2022, BMS agreed to sell its manufacturing facility in Syracuse, New York to LOTTE Corporation and accounted for the business as held-for-sale, which resulted in a $ 63 million impairment charge recorded to Cost of products sold. Assets and liabilities reclassified to held-for-sale were included within Other current assets and Other current liabilities and were $ 172 million and $ 20 million, respectively, as of December 31, 2022. In January 2023, BMS completed the sale resulting in cash proceeds of $ 159 million, which was received in December 2022. | text | 63 | monetaryItemType | text: <entity> 63 </entity> <entity type> monetaryItemType </entity type> <context> In 2022, BMS agreed to sell its manufacturing facility in Syracuse, New York to LOTTE Corporation and accounted for the business as held-for-sale, which resulted in a $ 63 million impairment charge recorded to Cost of products sold. Assets and liabilities reclassified to held-for-sale were included within Other current assets and Other current liabilities and were $ 172 million and $ 20 million, respectively, as of December 31, 2022. In January 2023, BMS completed the sale resulting in cash proceeds of $ 159 million, which was received in December 2022. </context> | us-gaap:AssetImpairmentCharges |
In 2022, BMS agreed to sell its manufacturing facility in Syracuse, New York to LOTTE Corporation and accounted for the business as held-for-sale, which resulted in a $ 63 million impairment charge recorded to Cost of products sold. Assets and liabilities reclassified to held-for-sale were included within Other current assets and Other current liabilities and were $ 172 million and $ 20 million, respectively, as of December 31, 2022. In January 2023, BMS completed the sale resulting in cash proceeds of $ 159 million, which was received in December 2022. | text | 172 | monetaryItemType | text: <entity> 172 </entity> <entity type> monetaryItemType </entity type> <context> In 2022, BMS agreed to sell its manufacturing facility in Syracuse, New York to LOTTE Corporation and accounted for the business as held-for-sale, which resulted in a $ 63 million impairment charge recorded to Cost of products sold. Assets and liabilities reclassified to held-for-sale were included within Other current assets and Other current liabilities and were $ 172 million and $ 20 million, respectively, as of December 31, 2022. In January 2023, BMS completed the sale resulting in cash proceeds of $ 159 million, which was received in December 2022. </context> | us-gaap:AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent |
In 2022, BMS agreed to sell its manufacturing facility in Syracuse, New York to LOTTE Corporation and accounted for the business as held-for-sale, which resulted in a $ 63 million impairment charge recorded to Cost of products sold. Assets and liabilities reclassified to held-for-sale were included within Other current assets and Other current liabilities and were $ 172 million and $ 20 million, respectively, as of December 31, 2022. In January 2023, BMS completed the sale resulting in cash proceeds of $ 159 million, which was received in December 2022. | text | 20 | monetaryItemType | text: <entity> 20 </entity> <entity type> monetaryItemType </entity type> <context> In 2022, BMS agreed to sell its manufacturing facility in Syracuse, New York to LOTTE Corporation and accounted for the business as held-for-sale, which resulted in a $ 63 million impairment charge recorded to Cost of products sold. Assets and liabilities reclassified to held-for-sale were included within Other current assets and Other current liabilities and were $ 172 million and $ 20 million, respectively, as of December 31, 2022. In January 2023, BMS completed the sale resulting in cash proceeds of $ 159 million, which was received in December 2022. </context> | us-gaap:LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent |
In 2022, BMS agreed to sell its manufacturing facility in Syracuse, New York to LOTTE Corporation and accounted for the business as held-for-sale, which resulted in a $ 63 million impairment charge recorded to Cost of products sold. Assets and liabilities reclassified to held-for-sale were included within Other current assets and Other current liabilities and were $ 172 million and $ 20 million, respectively, as of December 31, 2022. In January 2023, BMS completed the sale resulting in cash proceeds of $ 159 million, which was received in December 2022. | text | 159 | monetaryItemType | text: <entity> 159 </entity> <entity type> monetaryItemType </entity type> <context> In 2022, BMS agreed to sell its manufacturing facility in Syracuse, New York to LOTTE Corporation and accounted for the business as held-for-sale, which resulted in a $ 63 million impairment charge recorded to Cost of products sold. Assets and liabilities reclassified to held-for-sale were included within Other current assets and Other current liabilities and were $ 172 million and $ 20 million, respectively, as of December 31, 2022. In January 2023, BMS completed the sale resulting in cash proceeds of $ 159 million, which was received in December 2022. </context> | us-gaap:DisposalGroupIncludingDiscontinuedOperationConsideration |
effective as of December 31, 2023, subject to BeiGene’s right to continue to sell all remaining inventory beyond that date. In consideration for the above, BMS agreed to transfer 23.3 million of BeiGene ordinary shares of common stock held under a share subscription agreement back to BeiGene resulting in $ 322 million of expense that was included in Other (income)/expense, net in 2023. The expense was determined based on the closing price of the shares on the date of the transfer. In addition, the remaining BeiGene ordinary shares owned by BMS under the share subscription agreement were converted to American Depository Shares, which were subsequently sold in 2023. | text | 322 | monetaryItemType | text: <entity> 322 </entity> <entity type> monetaryItemType </entity type> <context> effective as of December 31, 2023, subject to BeiGene’s right to continue to sell all remaining inventory beyond that date. In consideration for the above, BMS agreed to transfer 23.3 million of BeiGene ordinary shares of common stock held under a share subscription agreement back to BeiGene resulting in $ 322 million of expense that was included in Other (income)/expense, net in 2023. The expense was determined based on the closing price of the shares on the date of the transfer. In addition, the remaining BeiGene ordinary shares owned by BMS under the share subscription agreement were converted to American Depository Shares, which were subsequently sold in 2023. </context> | us-gaap:LitigationSettlementExpense |
In 2023, BMS entered into an agreement with AstraZeneca to settle all outstanding claims between the parties in the CTLA-4 litigation and the two PD-L1 antibody litigations, as further described in "—Note 20. Legal Proceedings and Contingencies." AstraZeneca will pay an aggregate of $ 560 million to BMS in four payments through September 2026, which will be subject to sharing arrangements with Ono and Dana-Farber. BMS's share is approximately $ 418 million, of which the net present value of $ 384 million was reflected in Other (income)/expense in 2023. | text | 560 | monetaryItemType | text: <entity> 560 </entity> <entity type> monetaryItemType </entity type> <context> In 2023, BMS entered into an agreement with AstraZeneca to settle all outstanding claims between the parties in the CTLA-4 litigation and the two PD-L1 antibody litigations, as further described in "—Note 20. Legal Proceedings and Contingencies." AstraZeneca will pay an aggregate of $ 560 million to BMS in four payments through September 2026, which will be subject to sharing arrangements with Ono and Dana-Farber. BMS's share is approximately $ 418 million, of which the net present value of $ 384 million was reflected in Other (income)/expense in 2023. </context> | us-gaap:LitigationSettlementAmountAwardedFromOtherParty |
In 2023, BMS entered into an agreement with AstraZeneca to settle all outstanding claims between the parties in the CTLA-4 litigation and the two PD-L1 antibody litigations, as further described in "—Note 20. Legal Proceedings and Contingencies." AstraZeneca will pay an aggregate of $ 560 million to BMS in four payments through September 2026, which will be subject to sharing arrangements with Ono and Dana-Farber. BMS's share is approximately $ 418 million, of which the net present value of $ 384 million was reflected in Other (income)/expense in 2023. | text | 418 | monetaryItemType | text: <entity> 418 </entity> <entity type> monetaryItemType </entity type> <context> In 2023, BMS entered into an agreement with AstraZeneca to settle all outstanding claims between the parties in the CTLA-4 litigation and the two PD-L1 antibody litigations, as further described in "—Note 20. Legal Proceedings and Contingencies." AstraZeneca will pay an aggregate of $ 560 million to BMS in four payments through September 2026, which will be subject to sharing arrangements with Ono and Dana-Farber. BMS's share is approximately $ 418 million, of which the net present value of $ 384 million was reflected in Other (income)/expense in 2023. </context> | us-gaap:ProceedsFromLegalSettlements |
In 2023, BMS entered into an agreement with AstraZeneca to settle all outstanding claims between the parties in the CTLA-4 litigation and the two PD-L1 antibody litigations, as further described in "—Note 20. Legal Proceedings and Contingencies." AstraZeneca will pay an aggregate of $ 560 million to BMS in four payments through September 2026, which will be subject to sharing arrangements with Ono and Dana-Farber. BMS's share is approximately $ 418 million, of which the net present value of $ 384 million was reflected in Other (income)/expense in 2023. | text | 384 | monetaryItemType | text: <entity> 384 </entity> <entity type> monetaryItemType </entity type> <context> In 2023, BMS entered into an agreement with AstraZeneca to settle all outstanding claims between the parties in the CTLA-4 litigation and the two PD-L1 antibody litigations, as further described in "—Note 20. Legal Proceedings and Contingencies." AstraZeneca will pay an aggregate of $ 560 million to BMS in four payments through September 2026, which will be subject to sharing arrangements with Ono and Dana-Farber. BMS's share is approximately $ 418 million, of which the net present value of $ 384 million was reflected in Other (income)/expense in 2023. </context> | us-gaap:LitigationSettlementAmountAwardedFromOtherParty |
In 2022, BMS and Nimbus entered into a settlement resolving all legal claims and business interests pertaining to Nimbus' TYK2 inhibitor resulting in $ 40 million of income included in Other (income)/expense. The settlement also provides for BMS to receive additional amounts for contingent development, regulatory approval and sales-based milestones and 10 % of any change in control proceeds received by Nimbus related to its TYK2 inhibitor. In 2023, Takeda acquired 100 % ownership of Nimbus' TYK2 inhibitor for approximately $ 4.0 billion in upfront proceeds plus contingent sales-based milestones aggregating up to $ 2.0 billion. As a result, $ 400 million of income related to the change of control provision was included in Other (income)/expense in 2023. | text | 40 | monetaryItemType | text: <entity> 40 </entity> <entity type> monetaryItemType </entity type> <context> In 2022, BMS and Nimbus entered into a settlement resolving all legal claims and business interests pertaining to Nimbus' TYK2 inhibitor resulting in $ 40 million of income included in Other (income)/expense. The settlement also provides for BMS to receive additional amounts for contingent development, regulatory approval and sales-based milestones and 10 % of any change in control proceeds received by Nimbus related to its TYK2 inhibitor. In 2023, Takeda acquired 100 % ownership of Nimbus' TYK2 inhibitor for approximately $ 4.0 billion in upfront proceeds plus contingent sales-based milestones aggregating up to $ 2.0 billion. As a result, $ 400 million of income related to the change of control provision was included in Other (income)/expense in 2023. </context> | us-gaap:ProceedsFromLegalSettlements |
In 2022, BMS and Nimbus entered into a settlement resolving all legal claims and business interests pertaining to Nimbus' TYK2 inhibitor resulting in $ 40 million of income included in Other (income)/expense. The settlement also provides for BMS to receive additional amounts for contingent development, regulatory approval and sales-based milestones and 10 % of any change in control proceeds received by Nimbus related to its TYK2 inhibitor. In 2023, Takeda acquired 100 % ownership of Nimbus' TYK2 inhibitor for approximately $ 4.0 billion in upfront proceeds plus contingent sales-based milestones aggregating up to $ 2.0 billion. As a result, $ 400 million of income related to the change of control provision was included in Other (income)/expense in 2023. | text | 400 | monetaryItemType | text: <entity> 400 </entity> <entity type> monetaryItemType </entity type> <context> In 2022, BMS and Nimbus entered into a settlement resolving all legal claims and business interests pertaining to Nimbus' TYK2 inhibitor resulting in $ 40 million of income included in Other (income)/expense. The settlement also provides for BMS to receive additional amounts for contingent development, regulatory approval and sales-based milestones and 10 % of any change in control proceeds received by Nimbus related to its TYK2 inhibitor. In 2023, Takeda acquired 100 % ownership of Nimbus' TYK2 inhibitor for approximately $ 4.0 billion in upfront proceeds plus contingent sales-based milestones aggregating up to $ 2.0 billion. As a result, $ 400 million of income related to the change of control provision was included in Other (income)/expense in 2023. </context> | us-gaap:ProceedsFromLegalSettlements |
Contingent consideration in 2021 included $ 513 million of fair value adjustments resulting from the change in the traded price of contingent value rights issued with the Celgene acquisition. The contractual obligation to pay the contingent value rights terminated in January 2021 because the FDA did not approve liso-cel (JCAR017) by December 31, 2020. | text | 513 | monetaryItemType | text: <entity> 513 </entity> <entity type> monetaryItemType </entity type> <context> Contingent consideration in 2021 included $ 513 million of fair value adjustments resulting from the change in the traded price of contingent value rights issued with the Celgene acquisition. The contractual obligation to pay the contingent value rights terminated in January 2021 because the FDA did not approve liso-cel (JCAR017) by December 31, 2020. </context> | us-gaap:BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 |
In 2023, BMS commenced a restructuring plan to accelerate the delivery of medicines to patients by evolving and streamlining its enterprise operating model in key areas, such as R&D, manufacturing, commercial and other functions, to ensure its operating model supports and is appropriately aligned with the Company’s strategy to invest in key priorities. These changes primarily include (i) transforming R&D operations to accelerate pipeline delivery, (ii) enhancing our commercial operating model, and (iii) establishing a more responsive manufacturing network and expanding our cell therapy manufacturing capabilities. Charges of approximately $ 1.0 billion are expected to be incurred through 2025, consisting primarily of employee termination costs and to a lesser extent site exit costs, including impairment and accelerated depreciation of property, plant and equipment. | text | 1.0 | monetaryItemType | text: <entity> 1.0 </entity> <entity type> monetaryItemType </entity type> <context> In 2023, BMS commenced a restructuring plan to accelerate the delivery of medicines to patients by evolving and streamlining its enterprise operating model in key areas, such as R&D, manufacturing, commercial and other functions, to ensure its operating model supports and is appropriately aligned with the Company’s strategy to invest in key priorities. These changes primarily include (i) transforming R&D operations to accelerate pipeline delivery, (ii) enhancing our commercial operating model, and (iii) establishing a more responsive manufacturing network and expanding our cell therapy manufacturing capabilities. Charges of approximately $ 1.0 billion are expected to be incurred through 2025, consisting primarily of employee termination costs and to a lesser extent site exit costs, including impairment and accelerated depreciation of property, plant and equipment. </context> | us-gaap:RestructuringAndRelatedCostExpectedCost1 |
Restructuring and integration plans were initiated to realize expected cost synergies resulting from cost savings and avoidance from the acquisition of Celgene (2019), MyoKardia (2020) and Turning Point (2022). As part of these plans, the Company expects to incur charges of approximately $ 3.9 billion. Cumulative charges of approximately $ 3.6 billion have been recognized to date including integration planning and execution expenses, employee termination benefit costs and accelerated stock-based compensation, contract termination costs and other shutdown costs associated with site exits. The remaining charges are primarily related to Celgene's IT system integration. | text | 3.9 | monetaryItemType | text: <entity> 3.9 </entity> <entity type> monetaryItemType </entity type> <context> Restructuring and integration plans were initiated to realize expected cost synergies resulting from cost savings and avoidance from the acquisition of Celgene (2019), MyoKardia (2020) and Turning Point (2022). As part of these plans, the Company expects to incur charges of approximately $ 3.9 billion. Cumulative charges of approximately $ 3.6 billion have been recognized to date including integration planning and execution expenses, employee termination benefit costs and accelerated stock-based compensation, contract termination costs and other shutdown costs associated with site exits. The remaining charges are primarily related to Celgene's IT system integration. </context> | us-gaap:RestructuringAndRelatedCostExpectedCost1 |
Restructuring and integration plans were initiated to realize expected cost synergies resulting from cost savings and avoidance from the acquisition of Celgene (2019), MyoKardia (2020) and Turning Point (2022). As part of these plans, the Company expects to incur charges of approximately $ 3.9 billion. Cumulative charges of approximately $ 3.6 billion have been recognized to date including integration planning and execution expenses, employee termination benefit costs and accelerated stock-based compensation, contract termination costs and other shutdown costs associated with site exits. The remaining charges are primarily related to Celgene's IT system integration. | text | 3.6 | monetaryItemType | text: <entity> 3.6 </entity> <entity type> monetaryItemType </entity type> <context> Restructuring and integration plans were initiated to realize expected cost synergies resulting from cost savings and avoidance from the acquisition of Celgene (2019), MyoKardia (2020) and Turning Point (2022). As part of these plans, the Company expects to incur charges of approximately $ 3.9 billion. Cumulative charges of approximately $ 3.6 billion have been recognized to date including integration planning and execution expenses, employee termination benefit costs and accelerated stock-based compensation, contract termination costs and other shutdown costs associated with site exits. The remaining charges are primarily related to Celgene's IT system integration. </context> | us-gaap:RestructuringAndRelatedCostCostIncurredToDate1 |
(a) Includes reductions to the liability resulting from changes in estimates of $ 9 million in 2023 and $ 7 million in 2022. | text | 9 | monetaryItemType | text: <entity> 9 </entity> <entity type> monetaryItemType </entity type> <context> (a) Includes reductions to the liability resulting from changes in estimates of $ 9 million in 2023 and $ 7 million in 2022. </context> | us-gaap:RestructuringReserveAccrualAdjustment1 |
(a) Includes reductions to the liability resulting from changes in estimates of $ 9 million in 2023 and $ 7 million in 2022. | text | 7 | monetaryItemType | text: <entity> 7 </entity> <entity type> monetaryItemType </entity type> <context> (a) Includes reductions to the liability resulting from changes in estimates of $ 9 million in 2023 and $ 7 million in 2022. </context> | us-gaap:RestructuringReserveAccrualAdjustment1 |
GILTI, net of foreign derived intangible income deduction includes a benefit of approximately $ 325 million due to the revised 2023 guidance regarding the deductibility of certain research and development expenses. | text | 325 | monetaryItemType | text: <entity> 325 </entity> <entity type> monetaryItemType </entity type> <context> GILTI, net of foreign derived intangible income deduction includes a benefit of approximately $ 325 million due to the revised 2023 guidance regarding the deductibility of certain research and development expenses. </context> | us-gaap:IncomeTaxReconciliationNondeductibleExpenseResearchAndDevelopment |
U.S. Federal, state and foreign contingent tax matters include tax benefits related to lapse of statute and effectively settled contingent tax matters of $ 89 million in 2023 and $ 522 million in 2022. | text | 89 | monetaryItemType | text: <entity> 89 </entity> <entity type> monetaryItemType </entity type> <context> U.S. Federal, state and foreign contingent tax matters include tax benefits related to lapse of statute and effectively settled contingent tax matters of $ 89 million in 2023 and $ 522 million in 2022. </context> | us-gaap:IncomeTaxReconciliationTaxSettlements |
Puerto Rico imposed an excise tax on the gross company purchase price of goods sold from BMS’s manufacturer in Puerto Rico. The excise tax was recognized in Cost of products sold when the intra-entity sale occurred. For U.S. income tax purposes, the excise tax was not deductible but resulted in foreign tax credits that were generally recognized in BMS’s provision for income taxes when the excise tax was incurred. As of December 31, 2022, BMS amended its existing Puerto Rico decree, eliminating the excise tax and increasing its Puerto Rico tax rate to 10.5 % effective for the tax year beginning January 1, 2023, and extending BMS’s tax grants an additional 15 years to 2038. | text | 10.5 | percentItemType | text: <entity> 10.5 </entity> <entity type> percentItemType </entity type> <context> Puerto Rico imposed an excise tax on the gross company purchase price of goods sold from BMS’s manufacturer in Puerto Rico. The excise tax was recognized in Cost of products sold when the intra-entity sale occurred. For U.S. income tax purposes, the excise tax was not deductible but resulted in foreign tax credits that were generally recognized in BMS’s provision for income taxes when the excise tax was incurred. As of December 31, 2022, BMS amended its existing Puerto Rico decree, eliminating the excise tax and increasing its Puerto Rico tax rate to 10.5 % effective for the tax year beginning January 1, 2023, and extending BMS’s tax grants an additional 15 years to 2038. </context> | us-gaap:EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential |
The U.S. Federal net operating loss carryforwards were $ 420 million at December 31, 2023. These carryforwards were acquired as a result of certain acquisitions and are subject to limitations under Section 382 of the Internal Revenue Code. The net operating loss carryforwards expire in varying amounts beginning in 2024. The foreign and state net operating loss carryforwards expire in varying amounts beginning in 2024 (certain amounts have unlimited lives). | text | 420 | monetaryItemType | text: <entity> 420 </entity> <entity type> monetaryItemType </entity type> <context> The U.S. Federal net operating loss carryforwards were $ 420 million at December 31, 2023. These carryforwards were acquired as a result of certain acquisitions and are subject to limitations under Section 382 of the Internal Revenue Code. The net operating loss carryforwards expire in varying amounts beginning in 2024. The foreign and state net operating loss carryforwards expire in varying amounts beginning in 2024 (certain amounts have unlimited lives). </context> | us-gaap:OperatingLossCarryforwards |
At December 31, 2023, a valuation allowance of $ 764 million exists for the following items: $ 319 million primarily for foreign net operating loss and tax credit carryforwards, $ 303 million for state deferred tax assets including net operating loss and tax credit carryforwards and $ 142 million for U.S. Federal deferred tax assets including equity investment fair value adjustments and U.S. Federal net operating loss carryforwards. | text | 764 | monetaryItemType | text: <entity> 764 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2023, a valuation allowance of $ 764 million exists for the following items: $ 319 million primarily for foreign net operating loss and tax credit carryforwards, $ 303 million for state deferred tax assets including net operating loss and tax credit carryforwards and $ 142 million for U.S. Federal deferred tax assets including equity investment fair value adjustments and U.S. Federal net operating loss carryforwards. </context> | us-gaap:DeferredTaxAssetsValuationAllowance |
At December 31, 2023, a valuation allowance of $ 764 million exists for the following items: $ 319 million primarily for foreign net operating loss and tax credit carryforwards, $ 303 million for state deferred tax assets including net operating loss and tax credit carryforwards and $ 142 million for U.S. Federal deferred tax assets including equity investment fair value adjustments and U.S. Federal net operating loss carryforwards. | text | 319 | monetaryItemType | text: <entity> 319 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2023, a valuation allowance of $ 764 million exists for the following items: $ 319 million primarily for foreign net operating loss and tax credit carryforwards, $ 303 million for state deferred tax assets including net operating loss and tax credit carryforwards and $ 142 million for U.S. Federal deferred tax assets including equity investment fair value adjustments and U.S. Federal net operating loss carryforwards. </context> | us-gaap:DeferredTaxAssetsValuationAllowance |
At December 31, 2023, a valuation allowance of $ 764 million exists for the following items: $ 319 million primarily for foreign net operating loss and tax credit carryforwards, $ 303 million for state deferred tax assets including net operating loss and tax credit carryforwards and $ 142 million for U.S. Federal deferred tax assets including equity investment fair value adjustments and U.S. Federal net operating loss carryforwards. | text | 303 | monetaryItemType | text: <entity> 303 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2023, a valuation allowance of $ 764 million exists for the following items: $ 319 million primarily for foreign net operating loss and tax credit carryforwards, $ 303 million for state deferred tax assets including net operating loss and tax credit carryforwards and $ 142 million for U.S. Federal deferred tax assets including equity investment fair value adjustments and U.S. Federal net operating loss carryforwards. </context> | us-gaap:DeferredTaxAssetsValuationAllowance |
At December 31, 2023, a valuation allowance of $ 764 million exists for the following items: $ 319 million primarily for foreign net operating loss and tax credit carryforwards, $ 303 million for state deferred tax assets including net operating loss and tax credit carryforwards and $ 142 million for U.S. Federal deferred tax assets including equity investment fair value adjustments and U.S. Federal net operating loss carryforwards. | text | 142 | monetaryItemType | text: <entity> 142 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2023, a valuation allowance of $ 764 million exists for the following items: $ 319 million primarily for foreign net operating loss and tax credit carryforwards, $ 303 million for state deferred tax assets including net operating loss and tax credit carryforwards and $ 142 million for U.S. Federal deferred tax assets including equity investment fair value adjustments and U.S. Federal net operating loss carryforwards. </context> | us-gaap:DeferredTaxAssetsValuationAllowance |
Income tax payments were $ 4.3 billion in 2023, $ 5.4 billion in 2022 and $ 3.5 billion in 2021. | text | 4.3 | monetaryItemType | text: <entity> 4.3 </entity> <entity type> monetaryItemType </entity type> <context> Income tax payments were $ 4.3 billion in 2023, $ 5.4 billion in 2022 and $ 3.5 billion in 2021. </context> | us-gaap:IncomeTaxesPaidNet |
Income tax payments were $ 4.3 billion in 2023, $ 5.4 billion in 2022 and $ 3.5 billion in 2021. | text | 5.4 | monetaryItemType | text: <entity> 5.4 </entity> <entity type> monetaryItemType </entity type> <context> Income tax payments were $ 4.3 billion in 2023, $ 5.4 billion in 2022 and $ 3.5 billion in 2021. </context> | us-gaap:IncomeTaxesPaidNet |
Income tax payments were $ 4.3 billion in 2023, $ 5.4 billion in 2022 and $ 3.5 billion in 2021. | text | 3.5 | monetaryItemType | text: <entity> 3.5 </entity> <entity type> monetaryItemType </entity type> <context> Income tax payments were $ 4.3 billion in 2023, $ 5.4 billion in 2022 and $ 3.5 billion in 2021. </context> | us-gaap:IncomeTaxesPaidNet |
It is also reasonably possible that the total amount of unrecognized tax benefits at December 31, 2023 could decrease in the range of approximately $ 100 million to $ 140 million in the next twelve months as a result of the settlement of certain tax audits and other events. The expected change in unrecognized tax benefits may result in the payment of additional taxes, adjustment of certain deferred taxes and/or recognition of tax benefits. The following is a summary of major tax jurisdictions for which tax authorities may assert additional taxes based upon tax years currently under audit and subsequent years that will likely be audited: | text | 100 | monetaryItemType | text: <entity> 100 </entity> <entity type> monetaryItemType </entity type> <context> It is also reasonably possible that the total amount of unrecognized tax benefits at December 31, 2023 could decrease in the range of approximately $ 100 million to $ 140 million in the next twelve months as a result of the settlement of certain tax audits and other events. The expected change in unrecognized tax benefits may result in the payment of additional taxes, adjustment of certain deferred taxes and/or recognition of tax benefits. The following is a summary of major tax jurisdictions for which tax authorities may assert additional taxes based upon tax years currently under audit and subsequent years that will likely be audited: </context> | us-gaap:DecreaseInUnrecognizedTaxBenefitsIsReasonablyPossible |
It is also reasonably possible that the total amount of unrecognized tax benefits at December 31, 2023 could decrease in the range of approximately $ 100 million to $ 140 million in the next twelve months as a result of the settlement of certain tax audits and other events. The expected change in unrecognized tax benefits may result in the payment of additional taxes, adjustment of certain deferred taxes and/or recognition of tax benefits. The following is a summary of major tax jurisdictions for which tax authorities may assert additional taxes based upon tax years currently under audit and subsequent years that will likely be audited: | text | 140 | monetaryItemType | text: <entity> 140 </entity> <entity type> monetaryItemType </entity type> <context> It is also reasonably possible that the total amount of unrecognized tax benefits at December 31, 2023 could decrease in the range of approximately $ 100 million to $ 140 million in the next twelve months as a result of the settlement of certain tax audits and other events. The expected change in unrecognized tax benefits may result in the payment of additional taxes, adjustment of certain deferred taxes and/or recognition of tax benefits. The following is a summary of major tax jurisdictions for which tax authorities may assert additional taxes based upon tax years currently under audit and subsequent years that will likely be audited: </context> | us-gaap:DecreaseInUnrecognizedTaxBenefitsIsReasonablyPossible |
Cumulative upwards adjustments and cumulative impairments and downward adjustments based on observable price changes in equity investments without readily determinable fair values still held as of December 31, 2023 were $ 190 million and $ 75 million, respectively. | text | 190 | monetaryItemType | text: <entity> 190 </entity> <entity type> monetaryItemType </entity type> <context> Cumulative upwards adjustments and cumulative impairments and downward adjustments based on observable price changes in equity investments without readily determinable fair values still held as of December 31, 2023 were $ 190 million and $ 75 million, respectively. </context> | us-gaap:EquitySecuritiesWithoutReadilyDeterminableFairValueUpwardPriceAdjustmentCumulativeAmount |
Cumulative upwards adjustments and cumulative impairments and downward adjustments based on observable price changes in equity investments without readily determinable fair values still held as of December 31, 2023 were $ 190 million and $ 75 million, respectively. | text | 75 | monetaryItemType | text: <entity> 75 </entity> <entity type> monetaryItemType </entity type> <context> Cumulative upwards adjustments and cumulative impairments and downward adjustments based on observable price changes in equity investments without readily determinable fair values still held as of December 31, 2023 were $ 190 million and $ 75 million, respectively. </context> | us-gaap:EquitySecuritiesWithoutReadilyDeterminableFairValueDownwardPriceAdjustmentCumulativeAmount |
BMS enters into foreign currency forward and purchased local currency put option contracts (foreign exchange contracts) to hedge certain forecasted intercompany inventory sales and certain other foreign currency transactions. The objective of these foreign exchange contracts is to reduce variability caused by changes in foreign exchange rates that would affect the U.S. dollar value of future cash flows derived from foreign currency denominated sales, primarily the euro and Japanese yen. The fair values of these derivative contracts are recorded as either assets (gain positions) or liabilities (loss positions) in the consolidated balance sheets. Changes in fair value for these foreign exchange contracts, which are designated as cash flow hedges, are temporarily recorded in Accumulated other comprehensive loss ("AOCL") and reclassified to net earnings when the hedged item affects earnings (typically within the next 24 months). As of December 31, 2023, assuming market rates remain constant through contract maturities, we expect to reclassify pre-tax gains of $ 4 million into Cost of products sold for our foreign exchange contracts out of AOCL during the next 12 months. The notional amount of outstanding foreign currency exchange contracts was primarily $ 4.4 billion for the euro contracts and $ 1.2 billion for Japanese yen contracts as of December 31, 2023. | text | 4 | monetaryItemType | text: <entity> 4 </entity> <entity type> monetaryItemType </entity type> <context> BMS enters into foreign currency forward and purchased local currency put option contracts (foreign exchange contracts) to hedge certain forecasted intercompany inventory sales and certain other foreign currency transactions. The objective of these foreign exchange contracts is to reduce variability caused by changes in foreign exchange rates that would affect the U.S. dollar value of future cash flows derived from foreign currency denominated sales, primarily the euro and Japanese yen. The fair values of these derivative contracts are recorded as either assets (gain positions) or liabilities (loss positions) in the consolidated balance sheets. Changes in fair value for these foreign exchange contracts, which are designated as cash flow hedges, are temporarily recorded in Accumulated other comprehensive loss ("AOCL") and reclassified to net earnings when the hedged item affects earnings (typically within the next 24 months). As of December 31, 2023, assuming market rates remain constant through contract maturities, we expect to reclassify pre-tax gains of $ 4 million into Cost of products sold for our foreign exchange contracts out of AOCL during the next 12 months. The notional amount of outstanding foreign currency exchange contracts was primarily $ 4.4 billion for the euro contracts and $ 1.2 billion for Japanese yen contracts as of December 31, 2023. </context> | us-gaap:CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths |
BMS enters into foreign currency forward and purchased local currency put option contracts (foreign exchange contracts) to hedge certain forecasted intercompany inventory sales and certain other foreign currency transactions. The objective of these foreign exchange contracts is to reduce variability caused by changes in foreign exchange rates that would affect the U.S. dollar value of future cash flows derived from foreign currency denominated sales, primarily the euro and Japanese yen. The fair values of these derivative contracts are recorded as either assets (gain positions) or liabilities (loss positions) in the consolidated balance sheets. Changes in fair value for these foreign exchange contracts, which are designated as cash flow hedges, are temporarily recorded in Accumulated other comprehensive loss ("AOCL") and reclassified to net earnings when the hedged item affects earnings (typically within the next 24 months). As of December 31, 2023, assuming market rates remain constant through contract maturities, we expect to reclassify pre-tax gains of $ 4 million into Cost of products sold for our foreign exchange contracts out of AOCL during the next 12 months. The notional amount of outstanding foreign currency exchange contracts was primarily $ 4.4 billion for the euro contracts and $ 1.2 billion for Japanese yen contracts as of December 31, 2023. | text | 4.4 | monetaryItemType | text: <entity> 4.4 </entity> <entity type> monetaryItemType </entity type> <context> BMS enters into foreign currency forward and purchased local currency put option contracts (foreign exchange contracts) to hedge certain forecasted intercompany inventory sales and certain other foreign currency transactions. The objective of these foreign exchange contracts is to reduce variability caused by changes in foreign exchange rates that would affect the U.S. dollar value of future cash flows derived from foreign currency denominated sales, primarily the euro and Japanese yen. The fair values of these derivative contracts are recorded as either assets (gain positions) or liabilities (loss positions) in the consolidated balance sheets. Changes in fair value for these foreign exchange contracts, which are designated as cash flow hedges, are temporarily recorded in Accumulated other comprehensive loss ("AOCL") and reclassified to net earnings when the hedged item affects earnings (typically within the next 24 months). As of December 31, 2023, assuming market rates remain constant through contract maturities, we expect to reclassify pre-tax gains of $ 4 million into Cost of products sold for our foreign exchange contracts out of AOCL during the next 12 months. The notional amount of outstanding foreign currency exchange contracts was primarily $ 4.4 billion for the euro contracts and $ 1.2 billion for Japanese yen contracts as of December 31, 2023. </context> | us-gaap:DerivativeNotionalAmount |
BMS enters into foreign currency forward and purchased local currency put option contracts (foreign exchange contracts) to hedge certain forecasted intercompany inventory sales and certain other foreign currency transactions. The objective of these foreign exchange contracts is to reduce variability caused by changes in foreign exchange rates that would affect the U.S. dollar value of future cash flows derived from foreign currency denominated sales, primarily the euro and Japanese yen. The fair values of these derivative contracts are recorded as either assets (gain positions) or liabilities (loss positions) in the consolidated balance sheets. Changes in fair value for these foreign exchange contracts, which are designated as cash flow hedges, are temporarily recorded in Accumulated other comprehensive loss ("AOCL") and reclassified to net earnings when the hedged item affects earnings (typically within the next 24 months). As of December 31, 2023, assuming market rates remain constant through contract maturities, we expect to reclassify pre-tax gains of $ 4 million into Cost of products sold for our foreign exchange contracts out of AOCL during the next 12 months. The notional amount of outstanding foreign currency exchange contracts was primarily $ 4.4 billion for the euro contracts and $ 1.2 billion for Japanese yen contracts as of December 31, 2023. | text | 1.2 | monetaryItemType | text: <entity> 1.2 </entity> <entity type> monetaryItemType </entity type> <context> BMS enters into foreign currency forward and purchased local currency put option contracts (foreign exchange contracts) to hedge certain forecasted intercompany inventory sales and certain other foreign currency transactions. The objective of these foreign exchange contracts is to reduce variability caused by changes in foreign exchange rates that would affect the U.S. dollar value of future cash flows derived from foreign currency denominated sales, primarily the euro and Japanese yen. The fair values of these derivative contracts are recorded as either assets (gain positions) or liabilities (loss positions) in the consolidated balance sheets. Changes in fair value for these foreign exchange contracts, which are designated as cash flow hedges, are temporarily recorded in Accumulated other comprehensive loss ("AOCL") and reclassified to net earnings when the hedged item affects earnings (typically within the next 24 months). As of December 31, 2023, assuming market rates remain constant through contract maturities, we expect to reclassify pre-tax gains of $ 4 million into Cost of products sold for our foreign exchange contracts out of AOCL during the next 12 months. The notional amount of outstanding foreign currency exchange contracts was primarily $ 4.4 billion for the euro contracts and $ 1.2 billion for Japanese yen contracts as of December 31, 2023. </context> | us-gaap:DerivativeNotionalAmount |
BMS also enters into cross-currency swap contracts to hedge exposure to foreign currency exchange rate risk associated with its long-term debt denominated in euros. These contracts convert interest payments and principal repayment of the long-term debt to U.S. dollars from euros and are designated as cash flow hedges. The unrealized gains and losses on these contracts are reported in AOCL and reclassified to Other (income)/expense, net, in the same periods during which the hedged debt affects earnings. The notional amount of cross-currency interest rate swap contracts associated with long-term debt denominated in euros was $ 1.2 billion as of December 31, 2023. | text | 1.2 | monetaryItemType | text: <entity> 1.2 </entity> <entity type> monetaryItemType </entity type> <context> BMS also enters into cross-currency swap contracts to hedge exposure to foreign currency exchange rate risk associated with its long-term debt denominated in euros. These contracts convert interest payments and principal repayment of the long-term debt to U.S. dollars from euros and are designated as cash flow hedges. The unrealized gains and losses on these contracts are reported in AOCL and reclassified to Other (income)/expense, net, in the same periods during which the hedged debt affects earnings. The notional amount of cross-currency interest rate swap contracts associated with long-term debt denominated in euros was $ 1.2 billion as of December 31, 2023. </context> | us-gaap:DerivativeNotionalAmount |
Cross-currency swap contracts and foreign currency forward contracts of $ 962 million as of December 31, 2023 are designated to hedge currency exposure of BMS's net investment in its foreign subsidiaries. Contract fair value changes are recorded in the foreign currency translation component of AOCL with a related offset in derivative asset or liability in the consolidated balance sheets. The notional amount of outstanding cross-currency swap and foreign currency forward contracts was primarily attributed to the Japanese yen of $ 524 million and euro of $ 438 million as of December 31, 2023. | text | 962 | monetaryItemType | text: <entity> 962 </entity> <entity type> monetaryItemType </entity type> <context> Cross-currency swap contracts and foreign currency forward contracts of $ 962 million as of December 31, 2023 are designated to hedge currency exposure of BMS's net investment in its foreign subsidiaries. Contract fair value changes are recorded in the foreign currency translation component of AOCL with a related offset in derivative asset or liability in the consolidated balance sheets. The notional amount of outstanding cross-currency swap and foreign currency forward contracts was primarily attributed to the Japanese yen of $ 524 million and euro of $ 438 million as of December 31, 2023. </context> | us-gaap:DerivativeNotionalAmount |
Cross-currency swap contracts and foreign currency forward contracts of $ 962 million as of December 31, 2023 are designated to hedge currency exposure of BMS's net investment in its foreign subsidiaries. Contract fair value changes are recorded in the foreign currency translation component of AOCL with a related offset in derivative asset or liability in the consolidated balance sheets. The notional amount of outstanding cross-currency swap and foreign currency forward contracts was primarily attributed to the Japanese yen of $ 524 million and euro of $ 438 million as of December 31, 2023. | text | 524 | monetaryItemType | text: <entity> 524 </entity> <entity type> monetaryItemType </entity type> <context> Cross-currency swap contracts and foreign currency forward contracts of $ 962 million as of December 31, 2023 are designated to hedge currency exposure of BMS's net investment in its foreign subsidiaries. Contract fair value changes are recorded in the foreign currency translation component of AOCL with a related offset in derivative asset or liability in the consolidated balance sheets. The notional amount of outstanding cross-currency swap and foreign currency forward contracts was primarily attributed to the Japanese yen of $ 524 million and euro of $ 438 million as of December 31, 2023. </context> | us-gaap:DerivativeNotionalAmount |
Cross-currency swap contracts and foreign currency forward contracts of $ 962 million as of December 31, 2023 are designated to hedge currency exposure of BMS's net investment in its foreign subsidiaries. Contract fair value changes are recorded in the foreign currency translation component of AOCL with a related offset in derivative asset or liability in the consolidated balance sheets. The notional amount of outstanding cross-currency swap and foreign currency forward contracts was primarily attributed to the Japanese yen of $ 524 million and euro of $ 438 million as of December 31, 2023. | text | 438 | monetaryItemType | text: <entity> 438 </entity> <entity type> monetaryItemType </entity type> <context> Cross-currency swap contracts and foreign currency forward contracts of $ 962 million as of December 31, 2023 are designated to hedge currency exposure of BMS's net investment in its foreign subsidiaries. Contract fair value changes are recorded in the foreign currency translation component of AOCL with a related offset in derivative asset or liability in the consolidated balance sheets. The notional amount of outstanding cross-currency swap and foreign currency forward contracts was primarily attributed to the Japanese yen of $ 524 million and euro of $ 438 million as of December 31, 2023. </context> | us-gaap:DerivativeNotionalAmount |
In 2023, the Company de-designated its remaining net investment hedge in debt denominated in euros of € 375 million, and the amount represents the effective portion of foreign exchange loss on the remeasurement of the debt. | text | 375 | monetaryItemType | text: <entity> 375 </entity> <entity type> monetaryItemType </entity type> <context> In 2023, the Company de-designated its remaining net investment hedge in debt denominated in euros of € 375 million, and the amount represents the effective portion of foreign exchange loss on the remeasurement of the debt. </context> | us-gaap:DebtInstrumentFaceAmount |
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