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Acquisitions, Research Collaborations and License Agreements (Tables)

3 Months Ended

Mar. 31, 2021

Business Combinations [Abstract]

Fair Value of Assets Acquired and Liabilities Assumed

The estimated fair value of assets acquired and liabilities assumed from ArQule is as follows:

($ in millions)			January 16, 2020
Cash and cash equivalents			$	145
IPR&D MK-1026 (formerly ARQ 531) (1)			2,280
Licensing arrangement for ARQ 087			80
Deferred income tax liabilities			(361)
Other assets and liabilities, net			34
Total identifiable net assets			2,178
Goodwill (2)			512
Consideration transferred			$	2,690

(1) The estimated fair value of the identifiable intangible asset related to IPR&D was determined using an income approach. The future net cash flows were discounted to present value utilizing a discount rate of 12.5%. Actual cash flows are likely to be different than those assumed.

(2) The goodwill was allocated to the Pharmaceutical segment and is not deductible for tax purposes.

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- References

No definition available.

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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=121647850&loc=d3e4845-128472

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