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Acquisitions and Strategic Investments (Tables) | 9 Months Ended
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Sep. 30, 2020
Business Acquisition [Line Items] |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Changes in the fair value of our contingent consideration liability were as follows:
(in millions) |
Balance as of December 31, 2019 | $ | 354 |
Contingent consideration net expense (benefit) | (102) |
Contingent consideration payments | (40) |
Balance as of September 30, 2020 | $ | 214 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | The recurring Level 3 fair value measurements of our contingent consideration liability that we expect to be required to settle include the following significant unobservable inputs:
Contingent Consideration Liability | Fair Value as of September 30, 2020 | Valuation Technique | Unobservable Input | Range | Weighted Average (1)
R&D, Regulatory and Commercialization-based Milestones | $100 million | Discounted Cash Flow | Discount Rate | 2 | % | - | 2% | 2%
Probability of Payment | 90 | % | - | 90% | 90%
Projected Year of Payment | 2027 | - | 2027 | 2027
Revenue-based Payments | $114 million | Discounted Cash Flow | Discount Rate | 11 | % | - | 14% | 13%
Probability of Payment | 53 | % | - | 100% | 87%
Projected Year of Payment | 2020 | - | 2024 | 2022
(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
(in millions) | September 30, 2020 |  | December 31, 2019
Equity method investments | $ | 366 |  |  | $ | 264 |
Measurement alternative investments (1) | 196 |  |  | 171 |
Publicly-held equity securities (2) | — |  |  | 1 |
Notes receivable | 4 |  |  | 23 |
| $ | 567 |  |  | $ | 458 |
(1) Measurement alternative investments are privately-held equity securities without readily determinable fair values that are measured at cost minus impairment, if any, adjusted to fair value for any 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 within our accompanying unaudited condensed consolidated statements of operations.
BTG Acquisition [Member] |
Business Acquisition [Line Items] |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] |
(in millions) |
Payment for acquisition, net of cash acquired | $ | 3,619 |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] |
(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 |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block] |
| 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 |  |  |  |  |  |  |  |  |
2019 Acquisitions (Vertiflex and Millipede) [Member] |
Business Acquisition [Line Items] |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] |
(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] |
(in millions) |
Goodwill | $ | 577 |
Amortizable intangible assets | 220 |
Indefinite-lived intangible assets | 240 |
Other assets acquired | 24 |
Liabilities assumed | (12) |
Net deferred tax liabilities | (58) |
| $ | 992 |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block] |
| 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 (IPR&D) | 240 |  |  | N/A |  | 19%
| $ | 461 |  |  |  |  |  |  |  |  |

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