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Acquisitions and Strategic Investments (Tables) | 12 Months Ended
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Dec. 31, 2019
Business Acquisition [Line Items] |
Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block] | Changes in the fair value of our contingent consideration liability were as follows:
(in millions) |
Balance as of December 31, 2017 | $ | 169 |
Amounts recorded related to current year acquisitions | 248 |
Purchase price adjustments related to prior year acquisitions | (22 | )
Contingent consideration expense (benefit) | (21 | )
Contingent consideration payments | (28 | )
Balance as of December 31, 2018 | $ | 347 |
Amounts recorded related to current year acquisitions | 127 |
Contingent consideration arrangements transferred to Varian | (16 | )
Contingent consideration expense (benefit) | (35 | )
Contingent consideration payments | (68 | )
Balance as of December 31, 2019 | $ | 354 |
Description of unobservable inputs used in Level 3 fair value measurements [Table Text Block] | The recurring Level 3 fair value measurements of our contingent consideration liability include the following significant unobservable inputs:
Contingent Consideration Liability | Fair Value as of December 31, 2019 | Valuation Technique | Unobservable Input | Range | Weighted Average (1)
R&D, Regulatory and Commercialization-based Milestones | $198 million | Discounted Cash Flow | Discount Rate | 2 | % | - | 3% | 3%
Probability of Payment | 40 | % | - | 90% | 82%
Projected Year of Payment | 2020 |  | - | 2027 | 2021
Revenue-based Payments | $156 million | Discounted Cash Flow | Discount Rate | 11 | % | - | 15% | 13%
Probability of Payment | 60 | % | - | 100% | 99%
Projected Year of Payment | 2020 |  | - | 2026 | 2021
(1) | Unobservable inputs were weighted by the relative fair value of the contingent consideration liability. For projected year of payment, the amount represents the median of the inputs and is not a weighted average.
Investment [Table Text Block] | The aggregate carrying amount of our strategic investments was comprised of the following:
| As of December 31,
(in millions) | 2019 |  | 2018
Equity method investments | $ | 264 |  |  | $ | 303 |
Measurement alternative investments(1) | 171 |  |  | 94 |
Publicly-held securities(2) | 1 |  |  | — |
Notes receivable | 23 |  |  | 26 |
| $ | 458 |  |  | $ | 424 |
(1) | Measurement alternative investments are privately-held equity securities without readily determinable fair values that are measured at cost less impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer.
(2) Publicly-held equity securities are measured at fair value with changes in fair value recognized currently in Other, net on our accompanying consolidated statements of operations.
2017 Acquisitions [Member] |
Business Acquisition [Line Items] |
Business Combination, Components of Purchase Price [Table Text Block] | The components of the aggregate purchase prices were as follows for our 2017 acquisitions:
(in millions) |
Payment for acquisitions, net of cash acquired | $ | 560 |
Fair value of contingent consideration | 72 |
| $ | 632 |
Business Combination, Purchase Price Allocation Schedule [Table Text Block] | The following summarizes the aggregate purchase price allocations for our 2017 acquisitions:
(in millions) |
Goodwill | $ | 287 |
Amortizable intangible assets | 278 |
Indefinite-lived intangible assets | 186 |
Other assets acquired | 44 |
Liabilities assumed | (61 | )
Deferred tax liabilities | (102 | )
| $ | 632 |
Business Acquisition, Purchase Price Allocation, Intangible Assets, Description | We allocated a portion of the purchase prices to specific intangible asset categories as follows:
| Amount Assigned (in millions) |  | Amortization Period (in years) |  | Risk-Adjusted Discount Rates used in Purchase Price Allocation
Amortizable intangible assets |  |  |  |  |  |  |
Technology-related | $ | 268 |  |  | 13 |  | 24%
Other intangible assets | 10 |  |  | 2 | - | 13 |  | 24%
Indefinite-lived intangible assets |  |  |  |  |  |  |
In-process research and development | $ | 186 |  |  | n/a |  | 15%
| $ | 464 |  |  |  |  |  |  |
2019 Acquisitions [Member] |
Business Acquisition [Line Items] |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block] | We allocated a portion of the preliminary purchase prices of our acquisitions of Vertiflex and Millipede, presented in aggregate, to the specific intangible asset categories as follows:
| Amount Assigned (in millions) |  | Amortization Period (in years) |  | Risk-Adjusted Discount Rates used in Purchase Price Allocation
Amortizable intangible assets: |  |  |  |  |
Technology-related | $ | 210 |  |  | 12 |  | 15%
Other intangible assets | 10 |  |  | 12 |  | 15%
Indefinite-lived intangible assets: |  |  |  |  |
In-process research and development | 240 |  |  | n/a |  | 19%
| $ | 461 |  |  |  |  |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | The preliminary purchase prices of our acquisitions of Vertiflex and Millipede, presented in aggregate, were comprised of the following components as of December 31, 2019:
(in millions) |
Payments for acquisitions, net of cash acquired | $ | 763 |
Fair value of contingent consideration | 127 |
Fair value of prior interests | 102 |
| $ | 992 |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The preliminary purchase price allocations of our acquisitions of Vertiflex and Millipede, presented in aggregate, were comprised of the following components as of December 31, 2019:
(in millions) |
Goodwill | $ | 575 |
Amortizable intangible assets | 220 |
Indefinite-lived intangible assets | 240 |
Other assets acquired | 24 |
Liabilities assumed | (12 | )
Net deferred tax liabilities | (56 | )
| $ | 992 |
BTG Acquisition [Member] |
Business Acquisition [Line Items] |
Business Acquisition, Pro Forma Information [Table Text Block] |
| Year Ended December 31,
(in millions, except per share data) (Unaudited) | 2019 |  | 2018
Net sales | $ | 11,142 |  |  | $ | 10,429 |
Net income (loss) | $ | 4,585 |  |  | $ | 1,244 |
Net income (loss) per common share — basic | $ | 3.30 |  |  | $ | 0.90 |
Net income (loss) per common share — assuming dilution | $ | 3.25 |  |  | $ | 0.89 |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block] | We allocated a portion of the preliminary purchase price for our acquisition of BTG to specific intangible asset categories as follows:
| Amount Assigned (in millions) |  | Amortization Period (in years) |  | Risk-Adjusted Discount Rates used in Purchase Price Allocation
Amortizable intangible assets: |  |  |  |  |  |  |  |  |
Technology-related | $ | 1,709 |  |  | 10 | - | 18 |  | 11 | % | - | 12%
Other intangible assets | 75 |  |  | 2 | - | 11 |  | 11%
| $ | 1,785 |  |  |  |  |  |  |  |  |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | The preliminary purchase price of BTG, was comprised of the following components as of December 31, 2019:
(in millions) |
Payment for acquisition, net of cash acquired | $ | 3,619 |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The following summarizes the preliminary purchase price allocation for our acquisition of BTG as of December 31, 2019:
(in millions) |
Goodwill | $ | 1,644 |
Trade accounts receivable, net | 108 |
Inventories | 232 |
Other current assets | 252 |
Other intangible assets, net | 1,785 |
Other long-term assets | 537 |
Accrued expenses and other current liabilities | (308 | )
Other long-term liabilities | (274 | )
Deferred tax liability | (358 | )
| $ | 3,619 |
2018 Acquisitions [Member] |
Business Acquisition [Line Items] |
Business Combination, Components of Purchase Price [Table Text Block] | The components of the aggregate purchase prices are as follows for our 2018 acquisitions as of December 31, 2019:
(in millions) |
Payments for acquisitions, net of cash acquired | $ | 1,449 |
Fair value of contingent consideration | 248 |
Fair value of prior interests | 251 |
| $ | 1,948 |
Business Combination, Purchase Price Allocation Schedule [Table Text Block] | The following summarizes the purchase price allocations for our 2018 acquisitions as of December 31, 2019:
(in millions) |
Goodwill | $ | 939 |
Amortizable intangible assets | 939 |
In-process research and development | 213 |
Other assets acquired | 38 |
Liabilities assumed | (19 | )
Net deferred tax liabilities | (162 | )
| $ | 1,948 |
Business Acquisition, Purchase Price Allocation, Intangible Assets, Description | We allocated a portion of the purchase prices to specific intangible asset categories as follows:
| Amount Assigned (in millions) |  | Amortization Period (in years) |  | Risk-Adjusted Discount Rates used in Purchase Price Allocation
Amortizable intangible assets |  |  |  |  |  |  |  |  |
Technology-related | $ | 908 |  |  | 6 | - | 14 |  | 14 | % | - | 23%
Other intangible assets | 31 |  |  | 6 | - | 13 |  | 13 | % | - | 15%
Indefinite-lived intangible assets |  |  |  |  |  |  |  |  |
In-process research and development | 213 |  |  | n/a |  | 15%
| $ | 1,153 |  |  |  |  |  |  |  |  |

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