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Acquisitions | 6 Months Ended
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Jun. 30, 2021
Business Combinations [Abstract] |
Acquisitions | ACQUISITIONS We acquire stock in companies and various assets that continue to support our capital deployment and product development strategies. The aggregate purchase price of our acquisitions, net of cash acquired was $108 and $26 in the six months 2021 and 2020. In November 2020 we completed the acquisition of Wright Medical Group N.V. (Wright) for $30.75 per share, or an aggregate purchase price of $4.1 billion ($5.6 billion including convertible notes). Wright is a global medical device company focused on extremities and biologics. Wright is part of our Trauma and Extremities business within Orthopaedics. Goodwill attributable to the acquisition is not deductible for tax purposes. In December 2020 we completed the acquisition of OrthoSensor, Inc. (OrthoSensor). OrthoSensor is a leader in the digital evolution of musculoskeletal care and sensor technology for total joint replacement. OrthoSensor is part of our Joint Replacement business within Orthopaedics. Goodwill attributable to the acquisition is not deductible for tax purposes. Purchase price allocations for our significant acquisitions are:
Purchase Price Allocation of Acquired Net Assets
2020 | Wright
Tangible assets and liabilities: |
Accounts receivable | $ | 127 |
Inventory | 419 |
Deferred income tax assets | 477 |
Other assets | 345 |
Debt | (1,446) |
Deferred income tax liabilities | (490) |
Product liabilities | (211) |
Other liabilities | (291) |
Intangible assets: |
Customer and distributor relationships | 182 |
Developed technology and patents | 1,510 |
Trade name | 58 |
Goodwill | 3,401 |
Purchase price, net of cash acquired | $ | 4,081 |
Weighted-average life of intangible assets | 12
Purchase price allocations for Wright and other 2020 acquisitions were based on preliminary valuations, primarily related to intangible assets, product liabilities and deferred income taxes. Our estimates and assumptions are subject to change within the measurement period.
Consolidated Estimated Amortization Expense
Remainder of 2021 | 2022 | 2023 | 2024 | 2025
$ | 300 |  | $ | 588 |  | $ | 567 |  | $ | 540 |  | $ | 521 |

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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