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Fair value measurement (Tables)

9 Months Ended

Sep. 30, 2017

Fair Value Disclosures [Abstract]

Fair value of each major class of financial assets and liabilities measured at fair value on a recurring basis

The fair values of each major class of the Company’s financial assets and liabilities measured at fair value on a recurring basis were as follows (in millions):

		Quoted prices in active markets for identical assets (Level 1)				Significant other observable inputs (Level 2)				Significant unobservable inputs (Level 3)
Fair value measurement as of September 30, 2017, using:														Total
Assets:
Available-for-sale investments:
U.S. Treasury securities		$	8,018			$	—			$	—			$	8,018
Other government-related debt securities:
U.S.		—				224				—				224
Foreign and other		—				2,671				—				2,671
Corporate debt securities:
Financial		—				10,254				—				10,254
Industrial		—				9,906				—				9,906
Other		—				1,261				—				1,261
Residential mortgage-backed securities		—				2,204				—				2,204
Other mortgage- and asset-backed securities		—				2,067				—				2,067
Money market mutual funds		2,455				—				—				2,455
Other short-term interest-bearing securities		—				1,746				—				1,746
Equity securities		143				—				—				143
Derivatives:
Foreign currency contracts		—				7				—				7
Cross-currency swap contracts		—				224				—				224
Interest rate swap contracts		—				40				—				40
Forward interest rate contracts		—				10				—				10
Total assets		$	10,616			$	30,614			$	—			$	41,230
Liabilities:
Derivatives:
Foreign currency contracts		$	—			$	179			$	—			$	179
Cross-currency swap contracts		—				308				—				308
Interest rate swap contracts		—				5				—				5
Contingent consideration obligations in connection with business combinations		—				—				68				68
Total liabilities		$	—			$	492			$	68			$	560

		Quoted prices in active markets for identical assets (Level 1)				Significant other observable inputs (Level 2)				Significant unobservable inputs (Level 3)
Fair value measurement as of December 31, 2016, using:														Total
Assets:
Available-for-sale investments:
U.S. Treasury securities		$	6,614			$	—			$	—			$	6,614
Other government-related debt securities:
U.S.		—				299				—				299
Foreign and other		—				1,759				—				1,759
Corporate debt securities:
Financial		—				8,460				—				8,460
Industrial		—				8,789				—				8,789
Other		—				1,077				—				1,077
Residential mortgage-backed securities		—				1,940				—				1,940
Other mortgage- and asset-backed securities		—				1,719				—				1,719
Money market mutual funds		2,782				—				—				2,782
Other short-term interest-bearing securities		—				4,188				—				4,188
Equity securities		154				—				—				154
Derivatives:
Foreign currency contracts		—				203				—				203
Interest rate swap contracts		—				41				—				41
Total assets		$	9,550			$	28,475			$	—			$	38,025
Liabilities:
Derivatives:
Foreign currency contracts		$	—			$	4			$	—			$	4
Cross-currency swap contracts		—				523				—				523
Interest rate swap contracts		—				7				—				7
Contingent consideration obligations in connection with business combinations		—				—				179				179
Total liabilities		$	—			$	534			$	179			$	713

Changes in carrying amounts of contingent consideration obligations

Changes in the carrying amounts of contingent consideration obligations were as follows (in millions):

	Three months ended September 30,								Nine months ended September 30,
	2017				2016				2017				2016
Beginning balance	$	182			$	171			$	179			$	188
Net changes in valuation	(114		)		5				(111		)		(12		)
Ending balance	$	68			$	176			$	68			$	176

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- References

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- Definition

Tabular disclosure of contingent payment arrangements including the terms that will result in payment and the accounting treatment that will be followed if such contingencies occur, including the potential impact on earnings per share if contingencies are to be settled in common stock of the entity. The description also may include the period over which amounts are expected to be paid, and changes in the amount since the previous reporting period. This also includes contingent options and commitments.

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258

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