0000059478-26-000045 | 10-Q | XBRL Viewer

Acquisitions

3 Months Ended

Mar. 31, 2026

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Acquisitions

We engage in various forms of business development activities to enhance or refine our product pipeline, including acquisitions, collaborations, investments, and licensing arrangements. In connection with these arrangements, our partners may be entitled to future royalties and/or commercial milestones based on sales if the products are approved for commercialization and/or milestones based on the successful progress of compounds through the development process. We account for each arrangement as either a business combination or an asset acquisition in accordance with GAAP.

Business Combinations

When an acquisition met the definition of a business under GAAP, the assets acquired and liabilities assumed were recorded at their respective fair values as of the acquisition date in our consolidated condensed financial statements. The determination of estimated fair value required management to make significant estimates and assumptions. The excess of the purchase price over the fair value of the acquired net assets was recorded as goodwill. The results of operations of the acquisition are included in our consolidated condensed financial statements from the date of acquisition.

Ventyx Acquisition

Overview of Transaction

In March 2026, we acquired all shares of Ventyx Biosciences, Inc. (Ventyx) for a purchase price of $14.00 per share in cash (or an aggregate of $1.1 billion, net of cash acquired). Ventyx is developing oral therapies for patients with inflammatory-mediated diseases.

Assets Acquired and Liabilities Assumed

Our access to information was limited prior to this acquisition. As a consequence, we are in the process of determining fair values and tax bases of the assets acquired and liabilities assumed, including the identification and valuation of intangible assets and tax exposures. The final determination of these amounts will be completed as soon as possible but no later than one year from the acquisition date. The final determination may result in asset and liability fair values and tax bases that differ from the preliminary estimates and require changes to the preliminary amounts recognized.

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


Estimated Fair Value at March 4, 2026
Cash	$	120
Acquired in-process research and development (IPR&D)(1)	977
Other assets and liabilities, net	81
Acquisition date fair value of consideration transferred	1,178
Less:
Cash acquired	(120)
Cash paid, net of cash acquired	$	1,058

(1) Acquired IPR&D intangibles primarily relate to VTX3232.

Verve Acquisition

Overview of Transaction

In July 2025, we acquired all shares of Verve Therapeutics, Inc. (Verve) for a purchase price of $10.50 per share in cash (or an aggregate of $549 million, net of cash acquired), plus one non-tradeable contingent value right (CVR) per share that entitles the holder to receive up to an additional $3.00 per share (or an aggregate of up to approximately $300 million) payable, subject to certain terms and conditions, upon the achievement of a certain specified milestone. Verve is developing genetic medicines for cardiovascular disease.

Assets Acquired and Liabilities Assumed

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


Estimated Fair Value at July 25, 2025
Cash	$	389
Acquired IPR&D(1)	608
Other assets and liabilities, net	166
Acquisition date fair value of consideration transferred	1,163
Less:
Cash acquired	(389)
Fair value of CVR liability	(177)
Fair value of equity interest in Verve held before the business combination	(48)
Cash paid, net of cash acquired	$	549

(1) Acquired IPR&D intangibles primarily relate to VERVE-102 (PCSK9 Editor).

Asset Acquisitions

Upon each asset acquisition, the cost allocated to acquired IPR&D was immediately expensed as acquired IPR&D if the compound had no alternative future use. Milestone payment obligations incurred prior to regulatory approval of the compound were expensed as acquired IPR&D when the event triggering an obligation to pay the milestone occurred. We recognized acquired IPR&D charges of $584 million and $1.6 billion for the three months ended March 31, 2026 and 2025, respectively. Acquired IPR&D charges for the three months ended March 31, 2025 were primarily related to the acquisition of Scorpion Therapeutics, Inc.'s PI3Kα inhibitor program STX-478.

Acquisitions

Business Combinations

Ventyx Acquisition

Overview of Transaction

Assets Acquired and Liabilities Assumed

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


Estimated Fair Value at March 4, 2026
Cash	$	120
Acquired in-process research and development (IPR&D)(1)	977
Other assets and liabilities, net	81
Acquisition date fair value of consideration transferred	1,178
Less:
Cash acquired	(120)
Cash paid, net of cash acquired	$	1,058

(1) Acquired IPR&D intangibles primarily relate to VTX3232.

Verve Acquisition

Overview of Transaction

Assets Acquired and Liabilities Assumed

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


Estimated Fair Value at July 25, 2025
Cash	$	389
Acquired IPR&D(1)	608
Other assets and liabilities, net	166
Acquisition date fair value of consideration transferred	1,163
Less:
Cash acquired	(389)
Fair value of CVR liability	(177)
Fair value of equity interest in Verve held before the business combination	(48)
Cash paid, net of cash acquired	$	549

(1) Acquired IPR&D intangibles primarily relate to VERVE-102 (PCSK9 Editor).

Asset Acquisitions

Revenue - Schedule of Revenue Recognized (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Disaggregation of Revenue [Line Items]
Revenue	$ 19,799	$ 12,729
Net product revenue
Disaggregation of Revenue [Line Items]
Revenue	18,453	11,601
Collaboration and other revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 1,346	$ 1,127

Collaborations and Other Arrangements - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue	$ 19,799	$ 12,729
Jardiance
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue	1,114	1,014
Jardiance \| Milestone Payments, Sales-based
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue	250	$ 370
Boehringer Ingelheim \| Milestone Payments, Sales-based
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Potential achievements	660
Ebglyss \| Milestone Payments, Sales-based
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Potential achievements	1,200
Ebglyss \| Milestone Payments, Sales-based \| Roche
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Potential achievements	$ 975

Equity - Schedule of Components of Equity (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ 26,535
Other comprehensive income, net of tax	47	$ 547
Ending balance	$ 31,198
Common Stock
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance (in shares)	944.8	947.9
Beginning balance	$ 590	$ 592
Purchases of common stock (in shares)	(2.4)	(1.4)
Purchases of common stock	$ (1)	$ (1)
Issuance of stock under employee stock plans, net (in shares)	1.1	1.6
Issuance of stock under employee stock plans, net	$ 1	$ 1
Ending balance (in shares)	943.5	948.1
Ending balance	$ 590	$ 593
Additional Paid-in Capital
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	7,346	7,439
Issuance of stock under employee stock plans, net	(586)	(683)
Stock-based compensation	161	154
Ending balance	6,921	6,910
Retained Earnings
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	24,470	13,545
Net income (loss)	7,396	2,759
Purchases of common stock	(2,356)	(1,199)
Other	4	(6)
Ending balance	29,514	15,100
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(2,880)	(4,322)
Other comprehensive income, net of tax	47	547
Ending balance	$ (2,833)	$ (3,775)

Financial Instruments - Schedule of Fair Value Measurement (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Noncurrent investments	$ 3,116	$ 2,802
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	2,383	4,392
Short-term investments	146	105
Equity investments without readily determinable fair values	912	846
Equity method investments	1,336	1,288
Noncurrent investments	3,116	2,802
Carrying Amount \| Available-for-Sale Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	13	16
Noncurrent investments	360	360
Carrying Amount \| Other securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	133	89
Noncurrent investments	60	85
Carrying Amount \| Marketable equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable equity securities	448	223
Cost
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	2,383	4,392
Cost \| Available-for-Sale Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	13	16
Noncurrent investments	371	368
Cost \| Other securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	133	89
Noncurrent investments	29	54
Cost \| Marketable equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable equity securities	445	292
Fair Value Measurements Using
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	2,383	4,392
Fair Value Measurements Using \| Available-for-Sale Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	13	16
Noncurrent investments	360	360
Fair Value Measurements Using \| Other securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	133	89
Noncurrent investments	60	85
Fair Value Measurements Using \| Marketable equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable equity securities	448	223
Fair Value Measurements Using \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	2,383	4,392
Fair Value Measurements Using \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Available-for-Sale Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	2	9
Noncurrent investments	72	69
Fair Value Measurements Using \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Other securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Noncurrent investments	0	0
Fair Value Measurements Using \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Marketable equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable equity securities	448	223
Fair Value Measurements Using \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Fair Value Measurements Using \| Significant Other Observable Inputs (Level 2) \| Available-for-Sale Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	11	7
Noncurrent investments	288	291
Fair Value Measurements Using \| Significant Other Observable Inputs (Level 2) \| Other securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	30	12
Noncurrent investments	2	2
Fair Value Measurements Using \| Significant Other Observable Inputs (Level 2) \| Marketable equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable equity securities	0	0
Fair Value Measurements Using \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Fair Value Measurements Using \| Significant Unobservable Inputs (Level 3) \| Available-for-Sale Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Noncurrent investments	0	0
Fair Value Measurements Using \| Significant Unobservable Inputs (Level 3) \| Other securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	103	78
Noncurrent investments	58	83
Fair Value Measurements Using \| Significant Unobservable Inputs (Level 3) \| Marketable equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable equity securities	$ 0	$ 0

Financial Instruments - Schedule of Risk Management Instruments (Details) - Foreign Exchange Forward - Significant Other Observable Inputs (Level 2) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Designated as accounting hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other receivables	$ 4	$ 0
Other current liabilities	(2)	0
Not designated as accounting hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other receivables	37	39
Other current liabilities	$ (18)	$ (329)

Financial Instruments - Narrative (Details) - USD ($) $ in Billions	3 Months Ended
	Mar. 31, 2026	Dec. 31, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Average remaining maturity of foreign currency derivatives	12 months
Foreign Currency-Denominated Notes \| Designated as accounting hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, notional amount	$ 3.6	$ 6.0

Financial Instruments - Schedule of Short-term and Long-term Classification (Details) - Significant Other Observable Inputs (Level 2) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Carrying Amount
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Long-term debt, including current portion	$ 41,595	$ 42,503
Carrying Amount \| Commercial Paper
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Short-term commercial paper borrowings	1,775	0
Fair Value Measurements Using
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Long-term debt, including current portion	38,233	39,799
Fair Value Measurements Using \| Commercial Paper
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Short-term commercial paper borrowings	$ 1,771	$ 0

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2026
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective tax rate was 16.4 percent for the three months ended March 31, 2026, compared to 20.2 percent for the three months ended March 31, 2025, primarily driven by the unfavorable tax impact of a non-deductible acquired IPR&D charge in 2025. The 2026 and 2025 effective tax rates were impacted by net discrete tax benefits in each period. At March 31, 2026 and December 31, 2025, prepaid expenses included prepaid taxes of $11.8 billion and $12.9 billion, respectively. The U.S. examination of tax years 2019-2021 remains ongoing. For tax years 2016-2018, we are pursuing competent authority assistance through the Mutual Agreement Procedure (MAP) process for the pricing of certain intercompany transactions. The resolution of both audit periods will likely extend beyond the next 12 months.

Acquisitions - Schedule of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions			1 Months Ended
	Mar. 04, 2026	Jul. 25, 2025	Mar. 31, 2026
Ventyx Biosciences, Inc
Business Combination [Line Items]
Cash	$ 120
Acquired in-process research and development (IPR&D)	977
Other assets and liabilities, net	81
Acquisition date fair value of consideration transferred	1,178
Less:
Cash acquired	(120)
Cash paid, net of cash acquired	$ 1,058		$ 1,100
Verve Therapeutics, Inc.
Business Combination [Line Items]
Cash		$ 389
Acquired in-process research and development (IPR&D)		608
Other assets and liabilities, net		166
Acquisition date fair value of consideration transferred		1,163
Less:
Cash acquired		(389)
Fair value of CVR liability		(177)
Fair value of equity interest in Verve held before the business combination		(48)
Cash paid, net of cash acquired		$ 549

Contingencies (Details)	3 Months Ended
Contingencies (Details)	Mar. 31, 2026 USD ($) patent party site petition
Loss Contingencies [Line Items]
Number of potentially responsible parties \| party	1
Legal settlement payment \| $	$ 0
Israel
Loss Contingencies [Line Items]
Number of class action petitions \| petition	2
Unfavorable Regulatory Action
Loss Contingencies [Line Items]
Number of sites jointly and severally liable for cleanup (fewer than) \| site	10
Emgality Patent Litigation
Loss Contingencies [Line Items]
Number of patents \| patent	3

Financial Instruments - Schedule of Effect of Risk Management (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Foreign Exchange Forward
Derivative [Line Items]
Recognized in other–net, (income) expense	$ 97	$ (13)
Recognized in other comprehensive income (loss)	(30)	(327)
Foreign Currency-Denominated Notes
Derivative [Line Items]
Recognized in other comprehensive income (loss)	$ 115	$ (204)

Basis of Presentation and Implementation of New Financial Accounting Standards (Policies)	3 Months Ended
	Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Implementation of New Financial Accounting Standards	Implementation of New Financial Accounting Standards Accounting Standards Update 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, requires disaggregation of specific expense categories in the notes to the financial statements and a qualitative description of the remaining expense amounts not separately disaggregated. This standard is effective for annual reporting periods beginning after December 15, 2026, and requires prospective application with the option to apply it retrospectively. We intend to adopt this standard in our Annual Report on Form 10-K for the year ending December 31, 2027. We are currently evaluating the potential impact of adopting this standard on our disclosures.
Business Combinations	Business Combinations When an acquisition met the definition of a business under GAAP, the assets acquired and liabilities assumed were recorded at their respective fair values as of the acquisition date in our consolidated condensed financial statements. The determination of estimated fair value required management to make significant estimates and assumptions. The excess of the purchase price over the fair value of the acquired net assets was recorded as goodwill. The results of operations of the acquisition are included in our consolidated condensed financial statements from the date of acquisition.
Risk Management and Related Financial Instruments	Risk Management and Related Financial Instruments To manage foreign currency and interest rate risk, we may enter into derivative instruments intended to offset losses and gains on the assets, liabilities, and transactions being hedged. Such instruments are entered into in accordance with documented corporate risk-management policies.
Derivatives	In the normal course of business, our operations are exposed to fluctuations in interest rates which can vary the costs of financing, investing, and operating. Our primary interest-rate risk exposure results from changes in short-term U.S. dollar interest rates. In an effort to manage interest-rate exposures, we may enter into derivative contracts to achieve an acceptable balance between fixed- and floating-rate debt or to reduce cash flow variability from changes in interest rates as part of anticipated debt issuances.
Contingencies	Legal proceedings that we believe are significant or could become significant or material are described below. For proceedings in which we are named as defendants, unless otherwise noted, we cannot reasonably estimate the maximum potential exposure or the range of possible loss in excess of amounts accrued; however, we believe that the resolution of all such matters will not have a material adverse effect on our consolidated financial position or liquidity, but could possibly be material to our consolidated results of operations in any one accounting period. Litigation accruals and environmental liabilities and any related estimated insurance recoverables are reflected on a gross basis as liabilities and assets, respectively, on our consolidated balance sheets. We accrue for estimated exposures to the extent they are both probable and reasonably estimable based on the then available information. We accrue for certain unfiled product liability claims to the extent we can formulate a reasonable estimate of their exposure. We estimate these exposures based primarily on historical claims experience and data regarding product usage. Legal defense costs expected to be incurred in connection with significant liability loss contingencies are accrued when both probable and reasonably estimable. Because of the nature of pharmaceutical products, it is possible that we could become subject to large numbers of additional product liability and related claims in the future. Due to a very restrictive market for litigation liability insurance, we are predominantly self-insured for litigation liability losses for all our currently and previously marketed products.

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2026 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Anat Hakim [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On February 10, 2026, a sales plan was entered into with respect to shares of company common stock indirectly reported by Anat Hakim, executive vice president, general counsel and secretary (Hakim Plan). The Hakim Plan calls for the sale of up to 10,000 shares between August 7, 2026 and November 30, 2026 subject to the terms and conditions of the Hakim Plan.
Name	Anat Hakim
Title	executive vice president, general counsel and secretary
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	February 10, 2026
Expiration Date	November 30, 2026
Arrangement Duration	115 days
Aggregate Available	10,000
Ilya Yuffa [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On February 13, 2026, Ilya Yuffa, executive vice president and president Lilly USA and Global Customer Capabilities, adopted a sales plan (Yuffa Plan). The Yuffa Plan calls for the sale of up to 2,500 shares of company common stock between June 10, 2026 and October 9, 2026 subject to the terms and conditions of the Yuffa Plan.
Name	Ilya Yuffa
Title	executive vice president and president Lilly USA and Global Customer Capabilities
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	February 13, 2026
Expiration Date	October 9, 2026
Arrangement Duration	121 days
Aggregate Available	2,500
Patrik Jonsson [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On February 17, 2026, Patrik Jonsson, executive vice president and president, Lilly International, adopted a sales plan (Jonsson Plan). The Jonsson Plan calls for the sale of up to 6,500 shares of company common stock between August 17, 2026 and February 16, 2027 subject to the terms and conditions of the Jonsson Plan.
Name	Patrik Jonsson
Title	executive vice president and president, Lilly International
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	February 17, 2026
Expiration Date	February 16, 2027
Arrangement Duration	183 days
Aggregate Available	6,500

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2026	Apr. 27, 2026
Document Information [Line Items]
Document Type	10-Q
Document Period End Date	Mar. 31, 2026
Entity File Number	001-6351
Entity Registrant Name	ELI LILLY AND COMPANY
Entity Incorporation, State or Country Code	IN
Entity Tax Identification Number	35-0470950
Entity Address, Address Line One	Lilly Corporate Center
Entity Address, City or Town	Indianapolis
Entity Address, State or Province	IN
Entity Address, Postal Zip Code	46285
City Area Code	317
Local Phone Number	276-2000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		941,741,406
Amendment Flag	false
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q1
Entity Central Index Key	0000059478
Current Fiscal Year End Date	--12-31
Quarterly Report	true
Transition Report	false
Common Stock (no par value)
Document Information [Line Items]
Title of 12(b) Security	Common Stock (no par value)
Trading Symbol	LLY
Security Exchange Name	NYSE
1.625% Notes due 2026
Document Information [Line Items]
Title of 12(b) Security	1.625% Notes due 2026
Trading Symbol	LLY26
Security Exchange Name	NYSE
2.125% Notes due 2030
Document Information [Line Items]
Title of 12(b) Security	2.125% Notes due 2030
Trading Symbol	LLY30
Security Exchange Name	NYSE
0.625% Notes due 2031
Document Information [Line Items]
Title of 12(b) Security	0.625% Notes due 2031
Trading Symbol	LLY31
Security Exchange Name	NYSE
0.500% Notes due 2033
Document Information [Line Items]
Title of 12(b) Security	0.500% Notes due 2033
Trading Symbol	LLY33
Security Exchange Name	NYSE
6.77% Notes due 2036
Document Information [Line Items]
Title of 12(b) Security	6.77% Notes due 2036
Trading Symbol	LLY36
Security Exchange Name	NYSE
1.625% Notes due 2043
Document Information [Line Items]
Title of 12(b) Security	1.625% Notes due 2043
Trading Symbol	LLY43
Security Exchange Name	NYSE
1.700% Notes due 2049
Document Information [Line Items]
Title of 12(b) Security	1.700% Notes due 2049
Trading Symbol	LLY49A
Security Exchange Name	NYSE
1.125% Notes due 2051
Document Information [Line Items]
Title of 12(b) Security	1.125% Notes due 2051
Trading Symbol	LLY51
Security Exchange Name	NYSE
1.375% Notes due 2061
Document Information [Line Items]
Title of 12(b) Security	1.375% Notes due 2061
Trading Symbol	LLY61
Security Exchange Name	NYSE

Equity - Narrative (Details) $ in Billions	3 Months Ended
Equity - Narrative (Details) $ in Billions	Mar. 31, 2026 USD ($)
Subsidiary or Equity Method Investee [Line Items]
Purchase of treasury shares	$ 2.3
December 2024 Share Repurchase Program
Subsidiary or Equity Method Investee [Line Items]
Stock repurchase program, remaining authorized amount	8.6
Stock repurchase program, authorized amount	$ 15.0

Segment Information (Details) $ in Millions	3 Months Ended
Segment Information (Details) $ in Millions	Mar. 31, 2026 USD ($) segment	Mar. 31, 2025 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| segment	1
Financial Information Regularly Reviewed by the CODM
Revenue	$ 19,799.0	$ 12,729.0
Less:
Cost of sales	3,577.0	2,225.0
Research and development	3,510.0	2,734.0
Marketing, selling, and administrative	2,934.0	2,468.0
Acquired in-process research and development	584.0	1,572.0
Net income	7,396.0	2,759.0
Reportable Segment
Financial Information Regularly Reviewed by the CODM
Revenue	19,799.0	12,729.0
Less:
Cost of sales	3,577.0	2,225.0
Marketing, selling, and administrative	2,934.0	2,468.0
Acquired in-process research and development	584.0	1,572.0
Other segment items	1,798.0	971.0
Net income	7,396.0	2,759.0
Interest expense	332.0	244.0
Expenditures for long-lived assets	2,438.0	1,517.0
Reportable Segment \| Early-stage
Less:
Research and development	1,266.0	990.0
Reportable Segment \| Late-stage
Less:
Research and development	$ 2,244.0	$ 1,744.0

Acquisitions - Narrative (Details) $ / shares in Units, $ in Millions			1 Months Ended		3 Months Ended
	Mar. 04, 2026 USD ($)	Jul. 25, 2025 USD ($)	Mar. 31, 2026 USD ($) $ / shares	Jul. 31, 2025 USD ($) right $ / shares	Mar. 31, 2026 USD ($) $ / shares	Mar. 31, 2025 USD ($)
Asset Acquisition [Line Items]
Acquired in-process research and development					$ 584	$ 1,572
Ventyx Biosciences, Inc
Asset Acquisition [Line Items]
Business acquisition, share price (in dollars per share) \| $ / shares			$ 14		$ 14
Cash paid, net of cash acquired	$ 1,058		$ 1,100
Verve Therapeutics, Inc.
Asset Acquisition [Line Items]
Business acquisition, share price (in dollars per share) \| $ / shares				$ 10.50
Cash paid, net of cash acquired		$ 549
Consideration transferred, number of contingent value rights \| right				1
Contingent value right, additional price per share (in dollars per share) \| $ / shares				$ 3.00
Contingent value right, additional price per share, aggregate amount				$ 300

Consolidated Condensed Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Income Statement [Abstract]
Revenue	$ 19,799	$ 12,729
Costs, expenses, and other:
Cost of sales	3,577	2,225
Research and development	3,510	2,734
Marketing, selling, and administrative	2,934	2,468
Acquired in-process research and development	584	1,572
Asset impairment, restructuring, and other special charges	279	35
Other–net, (income) expense	65	239
Costs, expenses, and other	10,949	9,273
Income before income taxes	8,850	3,456
Income taxes	1,454	697
Net income	$ 7,396	$ 2,759
Earnings per share:
Basic (in dollars per share)	$ 8.27	$ 3.07
Diluted (in dollars per share)	$ 8.26	$ 3.06
Shares used in calculation of earnings per share:
Basic (in shares)	894.5	898.7
Diluted (in shares)	895.9	900.6

Consolidated Condensed Balance Sheets - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Current Assets
Cash and cash equivalents	$ 5,282	$ 7,268
Accounts receivable	18,429	17,760
Other receivables	2,748	2,395
Inventories	14,529	13,744
Prepaid expenses	13,633	14,315
Other current assets	214	147
Total current assets	54,835	55,629
Noncurrent Assets
Investments	3,116	2,802
Goodwill	6,130	5,898
Other intangibles, net	7,374	6,521
Deferred tax assets	11,350	9,959
Property and equipment, net	26,540	24,675
Other noncurrent assets	7,231	6,992
Total assets	116,576	112,476
Current Liabilities
Short-term borrowings and current maturities of long-term debt	4,000	1,635
Accounts payable	5,029	5,379
Employee compensation	1,359	2,375
Sales rebates and discounts	17,547	17,382
Other current liabilities	8,699	8,457
Total current liabilities	36,634	35,228
Noncurrent Liabilities
Long-term debt	39,370	40,868
Long-term income taxes payable	5,289	5,875
Other noncurrent liabilities	4,085	3,970
Total noncurrent liabilities	48,744	50,713
Commitments and Contingencies
Equity
Common stock	590	590
Additional paid-in capital	6,921	7,346
Retained earnings	29,514	24,470
Employee benefit trust	(3,013)	(3,013)
Accumulated other comprehensive loss	(2,833)	(2,880)
Other equity	19	22
Total equity	31,198	26,535
Total liabilities and equity	$ 116,576	$ 112,476

Contingencies	3 Months Ended
Contingencies	Mar. 31, 2026
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies We are and may become involved in various lawsuits, claims, government investigations and other legal proceedings that arise from time to time in the course of our business, including patent, environmental, commercial, contractual, licensing, employment, health and safety, consumer protection, pricing, access, consumer, sales and marketing, product liability, insurance, antitrust, securities, and regulatory compliance matters, among others. Such matters may involve inquiries from or disputes with various types of parties, including governments, regulatory agencies, competitors, customers, suppliers, service providers, licensees, employees, or shareholders, among others. We cannot predict the final outcome of these proceedings, and while we intend to vigorously prosecute or defend our position as appropriate, there can be no assurance that we will be successful or obtain any requested relief. Matters often develop over a long period of time and expectations can change as a result of new findings, rulings, appeals, settlements, legal or regulatory changes, or other factors. From time to time we may discontinue or settle and compromise matters as appropriate in our best interest. Legal proceedings that we believe are significant or could become significant or material are described below. For proceedings in which we are named as defendants, unless otherwise noted, we cannot reasonably estimate the maximum potential exposure or the range of possible loss in excess of amounts accrued; however, we believe that the resolution of all such matters will not have a material adverse effect on our consolidated financial position or liquidity, but could possibly be material to our consolidated results of operations in any one accounting period. Litigation accruals and environmental liabilities and any related estimated insurance recoverables are reflected on a gross basis as liabilities and assets, respectively, on our consolidated balance sheets. We accrue for estimated exposures to the extent they are both probable and reasonably estimable based on the then available information. We accrue for certain unfiled product liability claims to the extent we can formulate a reasonable estimate of their exposure. We estimate these exposures based primarily on historical claims experience and data regarding product usage. Legal defense costs expected to be incurred in connection with significant liability loss contingencies are accrued when both probable and reasonably estimable. Because of the nature of pharmaceutical products, it is possible that we could become subject to large numbers of additional product liability and related claims in the future. Due to a very restrictive market for litigation liability insurance, we are predominantly self-insured for litigation liability losses for all our currently and previously marketed products. Patent Matters In the course of our business, we are subject to actions and proceedings by third parties that seek to challenge, invalidate, or circumvent our patents and patent applications relating to our products, product candidates, and technologies, including the matter described below. Emgality Patent Litigation In September 2018, Teva Pharmaceuticals International GmbH and Teva Pharmaceuticals USA, Inc. (collectively, Teva) filed a complaint in the U.S. District Court for the District of Massachusetts alleging that Lilly's launch and continued sales of Emgality infringed various claims in three Teva patents. In November 2022, following a trial, a jury returned a verdict in favor of Teva. In September 2023, the trial court overruled the jury verdict, found all asserted claims invalid, and entered judgment in Lilly's favor. In April 2026, the U.S. Court of Appeals for the Federal Circuit issued an opinion reversing the trial court's finding that the patents are invalid and remanding to the district court, and we recognized a charge related to the matter during the three months ended March 31, 2026. We are assessing next steps. Environmental Matters Superfund Matters Under the Comprehensive Environmental Response, Compensation, and Liability Act, commonly known as "Superfund," we have been designated as one of several potentially responsible parties with respect to the cleanup of fewer than 10 sites. Under Superfund, each responsible party may be jointly and severally liable for the entire amount of the cleanup. Brazil Litigation – Cosmopolis Facility Labor Attorney Litigation In March 2008, the state Labor Public Attorney (LPA) filed a public civil action against Eli Lilly do Brasil Limitada (Lilly Brasil) in the Labor Court of Paulinia, State of Sao Paulo, alleging harm to employees and former employees from alleged exposure to soil and groundwater contaminants at a former manufacturing facility in Cosmopolis, operated by the company between 1977 and 2003. In May 2014, the trial court ruled against Lilly Brasil, ordering several remedial and compensatory actions, including health coverage for a class of individuals and certain of their children, and imposing a liquidated award. In December 2025, the superior labor court (TST) significantly reduced the liquidated award. Further appeals are possible. In July 2019, at the LPA's request, the trial court ordered a freeze of certain of Lilly Brasil's immovable property, which amount was reduced on Lilly's appeal. Both parties have appealed to the TST. The trial court is continuing to assess the status of Lilly Brasil's compliance with the obligations as to the land. Pricing Matters 340B Litigation and Investigations In January 2021, we filed a lawsuit in the U.S. District Court for the Southern District of Indiana against the U.S. Department of Health and Human Services (HHS), the Secretary of HHS, the Health Resources and Service Administration (HRSA), and the Administrator of HRSA. The lawsuit challenges HHS's December 2020 advisory opinion that the 340B program requires drug manufacturers to deliver discounts to all contract pharmacies, as well as HHS's December 2020 administrative dispute resolution (ADR) regulations. It seeks declaratory, injunctive, and other related relief. In March 2021, the court preliminarily enjoined the government's use of the ADR process as to us. In May 2021, we amended the complaint to add claims related to a May 2021 letter from HRSA asserting that Lilly's contract pharmacy policy violated the 340B statute. In October 2021, the court granted in part and denied in part the parties' cross-motions for summary judgment. Both parties appealed to the U.S. Court of Appeals for the Seventh Circuit. The appeal remains pending. We have been named in various ADR petitions, filed between 2021 and 2024, seeking declaratory, injunctive, and/or monetary relief related to the 340B program. In light of the preliminary injunction order described above, these petitions are being held in abeyance as to us. In July 2021, Mosaic Health, Inc. filed a putative class action lawsuit in the U.S. District Court for the Western District of New York against us, Sanofi-Aventis U.S., LLC, Novo Nordisk Inc., and AstraZeneca Pharmaceuticals LP, alleging antitrust and unjust enrichment claims related to the defendants' 340B programs. In October 2021, an amended complaint added Central Virginia Health Services, Inc. as a plaintiff. After the district court dismissed the case for failure to state a claim, the U.S. Court of Appeals for the Second Circuit reversed. We filed a petition seeking U.S. Supreme Court review in March 2026. This matter is ongoing. We have multiple other challenges against HHS and related parties related to interpretations and actions under the 340B program. Insulin Pricing Litigation Since 2017, various plaintiffs, including consumers, states and state attorneys general, counties, municipalities, Native American tribes, school districts, wholesalers, third-party payers, and others, have filed lawsuits, including putative class actions, against us, other manufacturers, pharmacy benefit managers, and others, relating to the pricing of insulin medications, and in some cases other diabetes medications, and rebates paid by manufacturers to pharmacy benefit managers. The complaints in the various lawsuits assert a variety of claims, including among others consumer protection, unfair or deceptive trade practices, fraud, false advertising, unjust enrichment, civil conspiracy, racketeering, antitrust, and unfair competition claims. Most cases have been coordinated or consolidated for pretrial proceedings in a multidistrict litigation (MDL) pending in the U.S. District Court for the District of New Jersey. The lawsuits are at various stages in the litigation process. The MDL court has issued various case management and other orders, including but not limited to orders establishing separate tracks for state attorney general claims, putative class actions, and non-class suits by self-funded payers; orders dismissing certain claims; and an order setting a constructive notice date of January 14, 2021 for statute of limitations purposes. In January 2022, the Michigan attorney general filed a petition in Michigan state court seeking authorization to investigate Lilly for potential violations of the Michigan Consumer Protection Act (MCPA), along with a complaint seeking a declaratory judgment that the state has authority to investigate Lilly's sale of insulin under the MCPA. The court authorized the proposed investigation and the issuance of civil investigative subpoenas. In April 2022, however, the parties entered into a stipulation providing that the state will not issue any civil investigative subpoena to us under the MCPA until the declaratory judgment action is resolved, and in July 2022, the court dismissed the case in its entirety. In June 2023, the Michigan Court of Appeals affirmed the judgment in our favor. The state's appeal to the Michigan Supreme Court remains pending. Lilly entered into settlement agreements with New York and Minnesota to resolve allegations relating to insulin pricing in 2023 and 2024, respectively. These agreements involved no monetary payments and no admission of wrongdoing or liability. Insulin and Other Pricing Investigations We have been subject to various investigations and received subpoenas, civil investigative demands, information requests, interrogatories, and other inquiries from various governmental entities related to pricing issues, including the pricing and sale of insulin medications, and in some instances certain other diabetes medications, and/or calculations of average manufacturer price and best price. These include subpoenas, civil investigative demands, or information requests from the U.S. Department of Justice, the U.S. Federal Trade Commission, and attorneys general from various states and the District of Columbia. To the extent the foregoing governmental entities have not filed lawsuits, we are cooperating with the various investigations, subpoenas, and inquiries. Average Manufacturer Price Litigation In November 2014, a relator filed a qui tam action in the U.S. District Court for the Northern District of Illinois against us and Takeda Pharmaceuticals America, Inc. The relator's complaint alleged that the defendants should have treated certain credits from distributors as retroactive price increases and included such increases in calculating average manufacturer prices. In August 2022, following a trial, the jury returned a verdict in favor of the relator. In September 2025, the U.S. Court of Appeals for the Seventh Circuit affirmed, and we recognized a charge related to the matter. In December 2025, the Seventh Circuit denied our petition for rehearing en banc. In March 2026, we filed a petition seeking U.S. Supreme Court review. Other Matters Actos Litigation We, along with Takeda Chemical Industries, Ltd. and Takeda affiliates (collectively, Takeda), are named in a third-party payer class action in the U.S. District Court for the Central District of California. The plaintiffs allege that bladder cancer risk was concealed from them and claim that as a result they and a proposed class of third-party payers are entitled to recover money paid for Actos prescriptions. Our agreement with Takeda calls for Takeda to defend and indemnify us against losses and expenses with respect to U.S. litigation arising out of the manufacture, use, or sale of Actos and other related expenses in accordance with the terms of the agreement. In May 2023, the district court granted class certification. The U.S. Court of Appeals for the Ninth Circuit subsequently affirmed, and the U.S. Supreme Court denied our petition for certiorari. The matter is ongoing. Mounjaro, Trulicity, and Zepbound Product Liability Litigation Since August 2023, various plaintiffs have filed lawsuits against us, Novo Nordisk A/S, and other related entities, alleging various injuries following purported use of incretin medicines, including Mounjaro, Trulicity, and Zepbound. The complaints assert a variety of claims and generally seek damages and/or other relief. Most of these lawsuits in the United States have been coordinated or consolidated for pretrial proceedings in two federal MDLs: one focused on alleged gastrointestinal injuries, and the other relating to claims of non-arteritic anterior ischemic optic neuropathy (NAION). Both MDLs are pending in the U.S. District Court for the Eastern District of Pennsylvania. There are also similar proceedings pending in Delaware, Indiana, and New Jersey state courts. In addition to the cases in the United States, there are two class action petitions in Israel and two class action petitions in Canada alleging various injuries and claims. Health Choice Alliance In October 2019, a relator filed a qui tam lawsuit against us in Texas state court asserting claims under the Texas Medicaid Fraud Prevention Act (TMFPA) based on allegations about certain patient support programs related to three of our products. The relator sought to recover the value of payments by the Texas Medicaid Program for these products, as well as civil penalties and other relief. In August 2025, the relator purported to dismiss the first lawsuit and filed a second lawsuit in a different Texas state court adding the State of Texas as a party and expanding claims under the TMFPA to fifteen of our products. We are opposing the relator's purported dismissal of the first lawsuit. Research Corporation Technologies, Inc. In April 2016, Research Corporation Technologies, Inc. (RCT) filed a lawsuit against us in the U.S. District Court for the District of Arizona asserting damages claims for breach of contract, unjust enrichment, and conversion related to processes used to manufacture certain products, including Humalog and Humulin. In October 2021, the court issued a summary judgment decision in favor of RCT on certain issues, including with respect to a disputed royalty. In July 2024, we reached a confidential agreement with RCT providing for different payments based on various litigation outcomes as determined on appeal. The settlement agreement was not an admission of liability or fault and was subject to conditions. Pursuant to the agreement, the court entered final judgment, Lilly filed a notice of appeal to the U.S. Court of Appeals for the Ninth Circuit, and Lilly made an initial payment under the agreement. In February 2026, the Ninth Circuit reversed and remanded the case with instructions to enter summary judgment for Lilly. Under the settlement agreement, Lilly owes no further payments to RCT.

Financial Instruments - Schedule of Significant Foreign Currency Contracts (Details) - Foreign Exchange Forward - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Designated as accounting hedges \| Purchase
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, notional amount	$ 297	$ 67
Designated as accounting hedges \| Sell
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, notional amount	0	0
Not designated as accounting hedges \| Purchase
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, notional amount	13,297	14,281
Not designated as accounting hedges \| Sell
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, notional amount	$ 5,520	$ 9,264

Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Inventory Disclosure [Abstract]
Finished products	$ 2,273	$ 1,931
Work in process	8,456	8,183
Raw materials and supplies	3,763	3,587
Total (approximates replacement cost)	14,492	13,701
Increase to last-in, first-out cost	37	43
Inventories	$ 14,529	$ 13,744

Basis of Presentation and Implementation of New Financial Accounting Standards	3 Months Ended
	Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Implementation of New Financial Accounting Standards	Basis of Presentation and Implementation of New Financial Accounting Standards We have prepared the accompanying unaudited consolidated condensed financial statements in accordance with the requirements of Form 10-Q and, therefore, they do not include all information and footnotes necessary for a fair presentation of financial position, results of operations, and cash flows in conformity with accounting principles generally accepted in the United States (GAAP). In our opinion, the consolidated condensed financial statements reflect all adjustments (including those that are normal and recurring) that are necessary for a fair presentation of the results of operations for the periods shown. In preparing financial statements in conformity with GAAP, we must make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, expenses, and related disclosures at the date of the financial statements and during the reporting period. Actual results could differ from those estimates. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with our consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2025. We issued our financial statements by filing them with the Securities and Exchange Commission and have evaluated subsequent events up to the time of the filing of this Quarterly Report on Form 10-Q. All per-share amounts, unless otherwise noted in the footnotes, are presented on a diluted basis; that is, based on the weighted-average number of common shares outstanding plus the effect of incremental shares from our stock-based compensation programs, if dilutive. We operate as a single operating segment engaged in the discovery, development, manufacturing, marketing, and sales of pharmaceutical products worldwide. A global research and development organization and a supply chain organization are responsible for the discovery, development, manufacturing, and supply of our products. Our commercial organizations market, distribute, and sell the products. The business is also supported by global corporate staff functions. See Note 10 for additional information. Implementation of New Financial Accounting Standards Accounting Standards Update 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, requires disaggregation of specific expense categories in the notes to the financial statements and a qualitative description of the remaining expense amounts not separately disaggregated. This standard is effective for annual reporting periods beginning after December 15, 2026, and requires prospective application with the option to apply it retrospectively. We intend to adopt this standard in our Annual Report on Form 10-K for the year ending December 31, 2027. We are currently evaluating the potential impact of adopting this standard on our disclosures.

Consolidated Condensed Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Statement of Comprehensive Income [Abstract]
Net income	$ 7,396	$ 2,759
Other comprehensive income, net of tax	47	547
Comprehensive income	$ 7,443	$ 3,306

Revenue - Narrative (Details)	3 Months Ended
Revenue - Narrative (Details)	Mar. 31, 2026	Mar. 31, 2025
U.S. \| Sales returns, rebates, and discounts
Change in Accounting Estimate [Line Items]
Revenue, information used to determine revenue recognized, change in accounting estimate, percent (less than)	3.00%	1.00%

Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Cash Flows from Operating Activities
Net income	$ 7,396	$ 2,759
Adjustments to Reconcile Net Income to Cash Flows from Operating Activities:
Depreciation and amortization	509	463
Change in deferred income taxes	(1,478)	(392)
Stock-based compensation expense	161	154
Acquired in-process research and development	584	1,572
Other changes in operating assets and liabilities, net of acquisitions and divestitures	(1,664)	(3,364)
Other operating activities, net	(175)	474
Net Cash Provided by Operating Activities	5,333	1,666
Cash Flows from Investing Activities
Purchases of property and equipment	(2,326)	(1,510)
Purchases of noncurrent investments	(297)	(197)
Purchases of in-process research and development	(204)	(1,757)
Cash paid for acquisitions, net of cash acquired	(1,058)	0
Other investing activities, net	(31)	111
Net Cash Used for Investing Activities	(3,916)	(3,353)
Cash Flows from Financing Activities
Dividends paid	(1,548)	(1,346)
Net change in short-term borrowings	1,775	(1,849)
Proceeds from issuance of long-term debt	0	6,461
Repayments of long-term debt	(750)	0
Purchases of common stock	(2,356)	(1,200)
Other financing activities, net	(591)	(686)
Net Cash (Used for) Provided by Financing Activities	(3,470)	1,380
Effect of exchange rate changes on cash and cash equivalents	67	132
Net decrease in cash and cash equivalents	(1,986)	(175)
Cash and cash equivalents at January 1	7,268	3,268
Cash and Cash Equivalents at March 31	$ 5,282	$ 3,093

Income Taxes (Details) - USD ($) $ in Billions	3 Months Ended
Income Taxes (Details) - USD ($) $ in Billions	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025
Income Tax Disclosure [Abstract]
Effective income tax rates, percentage	16.40%	20.20%
Prepaid taxes	$ 11.8		$ 12.9