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Fair value measurement (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value of Financial Assets and Liabilities on 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 June 30, 2024, using:																								Total
Assets:
Available-for-sale securities:
U.S. Treasury bills						$	—					$	995					$	—					$	995
Money market mutual funds						7,678						—						—						7,678
Other short-term interest-bearing securities						—						139						—						139
Equity securities						3,470						—						—						3,470
Derivatives:
Foreign currency forward contracts						—						270						—						270
Total assets						$	11,148					$	1,404					$	—					$	12,552
Liabilities:
Derivatives:
Foreign currency forward contracts						$	—					$	28					$	—					$	28
Cross-currency swap contracts						—						435						—						435
Interest rate swap contracts						—						564						—						564
Contingent consideration obligations						—						—						107						107
Total liabilities						$	—					$	1,027					$	107					$	1,134

						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, 2023, using:																								Total
Assets:
Available-for-sale securities:
U.S. Treasury bills						$	—					$	—					$	—					$	—
Money market mutual funds						10,266						—						—						10,266
Other short-term interest-bearing securities						—						138						—						138
Equity securities						4,514						—						—						4,514
Derivatives:
Foreign currency forward contracts						—						145						—						145
Total assets						$	14,780					$	283					$	—					$	15,063
Liabilities:
Derivatives:
Foreign currency forward contracts						$	—					$	116					$	—					$	116
Cross-currency swap contracts						—						405						—						405
Interest rate swap contracts						—						571						—						571
Contingent consideration obligations						—						—						96						96
Total liabilities						$	—					$	1,092					$	96					$	1,188

Contingent Consideration Obligations

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

						Three months ended June 30,												Six months ended June 30,
						2024						2023						2024						2023
Beginning balance						$	96					$	273					$	96					$	270
Payments						(2)						(2)						(4)						(4)
Net changes in valuations						13						(23)						15						(18)
Ending balance						$	107					$	248					$	107					$	248

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- References

No definition available.

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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.

+ References

No definition available.

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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/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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