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Acquisitions and Strategic Investments (Tables) | 6 Months Ended
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Jun. 30, 2021
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 during the first six months of 2021 were as follows:
(in millions) |
Balance as of December 31, 2020 | $ | 196 |
Amount recorded related to current year acquisitions | 221 |
Contingent consideration net expense (benefit) | (91) |
Contingent consideration payments | (14) |
Balance as of June 30, 2021 | $ | 312 |
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 June 30, 2021 | Valuation Technique | Unobservable Input | Range | Weighted Average(1)
R&D, Regulatory and Commercialization-based Milestones | $22 million | Discounted Cash Flow | Discount Rate | 2% | 2%
Probability of Payment | 20% | 20%
Projected Year of Payment | 2027 | 2027
Revenue-based Payments | $290 million | Discounted Cash Flow | Discount Rate | 4 | % | - | 14% | 6%
Probability of Payment | 80 | % | - | 100% | 100%
Projected Year of Payment | 2021 | - | 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) | June 30, 2021 |  | December 31, 2020
Equity method investments | $ | 264 |  |  | $ | 319 |
Measurement alternative investments(1) | 175 |  |  | 183 |
Publicly-held equity securities(2) | 176 |  |  | 414 |
Notes receivable | — |  |  | 2 |
| $ | 616 |  |  | $ | 918 |
(1) Measurement alternative investments are privately-held equity securities without readily determinable fair values that are measured at cost less 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, recognized in Other, net within our accompanying unaudited consolidated statements of operations. (2) Publicly-held equity securities are measured at fair value with changes in fair value recognized in Other, net within our accompanying unaudited consolidated statements of operations.
Preventice |
Business Acquisition [Line Items] |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] |
(in millions) |
Payment for acquisition, net of cash acquired | $ | 706 |
Fair value of contingent consideration | 221 |
Fair value of prior interest | 269 |
| $ | 1,197 |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] |
(in millions) |
Goodwill | $ | 926 |
Amortizable intangible assets | 237 |
Other assets acquired | 65 |
Liabilities assumed | (32) |
| $ | 1,197 |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block] |
| Amount Assigned (in millions) |  | Weighted Average Amortization Period (in years) |  | Risk-Adjusted Discount Rates used in Purchase Price Allocation
Amortizable intangible assets: |  |  |  |  |  |  |  |  |
Technology-related | $ | 215 |  |  | 9 |  | 10%
Other intangible assets | 22 |  |  | 8 |  |  |  | 10% |  |
| $ | 237 |  |  |  |  |  |  |  |  |

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