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Fair value measurement (Tables)

9 Months Ended

Sep. 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 September 30, 2024, using:																								Total
Assets:
Available-for-sale securities:
U.S. Treasury bills						$	—					$	996					$	—					$	996
Money market mutual funds						7,437						—						—						7,437
Other short-term interest-bearing securities						—						143						—						143
Equity securities						5,057						—						—						5,057
Derivatives:
Foreign currency forward contracts						—						99						—						99
Cross-currency swap contracts						—						4						—						4
Interest rate swap contracts						—						9						—						9
Total assets						$	12,494					$	1,251					$	—					$	13,745
Liabilities:
Derivatives:
Foreign currency forward contracts						$	—					$	121					$	—					$	121
Cross-currency swap contracts						—						361						—						361
Interest rate swap contracts						—						404						—						404
Contingent consideration obligations						—						—						112						112
Total liabilities						$	—					$	886					$	112					$	998

						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
Cross-currency swap contracts						—						—						—						—
Interest rate swap contracts						—						—						—						—
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 September 30,												Nine months ended September 30,
						2024						2023						2024						2023
Beginning balance						$	107					$	248					$	96					$	270
Payments						(2)						(3)						(6)						(7)
Net changes in valuations						7						(147)						22						(165)
Ending balance						$	112					$	98					$	112					$	98

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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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