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Acquisitions, Research Collaborations and License Agreements (Tables) | 6 Months Ended
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Jun. 30, 2019
Business Combinations [Abstract] |
Fair Value of Assets Acquired and Liabilities Assumed | The estimated fair value of assets acquired and liabilities assumed from Antelliq is as follows:
($ in millions) | April 1, 2019
Cash and cash equivalents | $ | 31 |
Accounts receivable | 73 |
Inventories | 97 |
Property, plant and equipment | 62 |
Identifiable intangible assets (useful lives ranging from 18-24 years) (1) | 2,689 |
Deferred income tax liabilities | (563 | )
Other assets and liabilities, net | (81 | )
Total identifiable net assets | 2,308 |
Goodwill (2) | 1,343 |
Consideration transferred | $ | 3,651 |
(1) | The estimated fair values of identifiable intangible assets relate primarily to trade names and were determined using an income approach. The future net cash flows were discounted to present value utilizing a discount rate of 11.5%. Actual cash flows are likely to be different than those assumed.
(2) | The goodwill recognized is largely attributable to anticipated synergies expected to arise after the acquisition and was allocated to the Animal Health segment. The goodwill is not deductible for tax purposes.

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=116869197&loc=d3e4845-128472 + Details
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