XML 23 R12.htm IDEA: XBRL DOCUMENT
v3.23.1

Fair Value Measurements | 3 Months Ended
--- | ---
Mar. 31, 2023
Fair Value Disclosures [Abstract] |
Fair Value Measurements | FAIR VALUE MEASUREMENTS Our policies for managing risk related to foreign currency, interest rates, credit and markets and our process for determining fair value have not changed from those described in our Annual Report on Form 10-K for 2022. In the third quarter 2022 we determined that certain commercial and regulatory milestones related to technology acquired in the purchase of Mobius Imaging and Cardan Robotics were no longer probable of being achieved and recorded a $110 reduction in the fair value of contingent consideration reflected in selling, general and administrative expenses. There were no significant transfers into or out of any level of the fair value hierarchy in 2023.
Assets Measured at Fair Value | March | December
2023 | 2022
Cash and cash equivalents | $ | 1,671 |  | $ | 1,844 |
Trading marketable securities | 179 |  | 166 |
Level 1 - Assets | $ | 1,850 |  | $ | 2,010 |
Available-for-sale marketable securities: |  |
Corporate and asset-backed debt securities | $ | 41 |  | $ | 42 |
Foreign government debt securities | 1 |  | 1 |
United States agency debt securities | 6 |  | 3 |
United States treasury debt securities | 37 |  | 36 |
Certificates of deposit | 1 |  | 2 |
Total available-for-sale marketable securities | $ | 86 |  | $ | 84 |
Foreign currency exchange forward contracts | 102 |  | 119 |
Level 2 - Assets | $ | 188 |  | $ | 203 |
Total assets measured at fair value | $ | 2,038 |  | $ | 2,213 |
Liabilities Measured at Fair Value | March | December
2023 | 2022
Deferred compensation arrangements | $ | 179 |  | $ | 166 |
Level 1 - Liabilities | $ | 179 |  | $ | 166 |
Foreign currency exchange forward contracts | $ | 76 |  | $ | 102 |
Level 2 - Liabilities | $ | 76 |  | $ | 102 |
Contingent consideration: |  |
Beginning | $ | 121 |  | $ | 306 |
Additions | — |  | 1 |
Change in estimate and foreign exchange | — |  | (137) |
Settlements | (1) |  | (49) |
Ending | $ | 120 |  | $ | 121 |
Level 3 - Liabilities | $ | 120 |  | $ | 121 |
Total liabilities measured at fair value | $ | 375 |  | $ | 389 |
Fair Value of Available for Sale Securities by Maturity
| March 2023 | December 2022
Due in one year or less | $ | 51 |  | $ | 53 |
Due after one year through three years | $ | 35 |  | $ | 31 |
On March 31, 2023 and December 31, 2022 the aggregate difference between the cost and fair value of available-for-sale marketable securities was nominal. Interest on cash and cash equivalents, short-term investments and marketable securities income was $14 and $15 in the three months 2023 and 2022, which was recorded in other income (expense), net. Our investments in available-for-sale marketable securities had a minimum credit quality rating of A2 (Moody's), A (Standard & Poor's) and A (Fitch). We do not plan to sell the investments, and it is not more likely than not that we will be required to sell the investments before recovery of their amortized cost basis, which may be maturity.

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration