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Acquisitions, Divestitures and Strategic Investments (Tables) | 3 Months Ended
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Mar. 31, 2023
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 quarter of 2023 associated with prior period acquisitions were as follows:
(in millions) |
Balance as of December 31, 2022 | $ | 149 |
Contingent consideration net expense (benefit) | 12 |
Contingent consideration payments | (68) |
Balance as of March 31, 2023 | $ | 93 |
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 March 31, 2023 | Valuation Technique | Unobservable Input | Range | Weighted Average(1) |  |
R&D, Regulatory and Commercialization-based Milestones | $13 million | Discounted Cash Flow | Discount Rate | 1% | - | 2% | 2% |  |
Probability of Payment | 10% | - | 25% | 22% |  |
Projected Year of Payment | 2023 | - | 2025 | 2024 |  |
Revenue-based Payments | $80 million | Discounted Cash Flow | Discount Rate | 6% | - | 14% | 7% |  |
Probability of Payment | 100% | 100% |  |
Projected Year of Payment | 2023 | - | 2024 | 2023 |  |
(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) | March 31, 2023 |  | December 31, 2022
Equity method investments | $ | 166 |  |  | $ | 188 |
Measurement alternative investments(1, 2) | 219 |  |  | 219 |
| $ | 385 |  |  | $ | 407 |
(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) Includes publicly-held securities measured at fair value with changes in fair value recognized in Other, net within our accompanying unaudited consolidated statements of operations.
Acotec |
Business Acquisition [Line Items] |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] |
(in millions) |  |  |
Payment for majority interest acquisition, net of cash acquired (1) | $ | 375 |  |  |
| $ | 375 |  |  |
(1) Excludes approximately $140 million of cash on hand at the closing of the transaction.
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The preliminary purchase price allocation was comprised of the following components and the final determination of the fair value of certain assets and liabilities will be completed within the measurement period in accordance with FASB ASC Topic 805:
(in millions) |
Goodwill | $ | 336 |
Amortizable intangible assets | 334 |
Other assets acquired | 61 |
Liabilities assumed | (23) |
Net deferred tax liabilities | (74) |
Fair value of noncontrolling interest | $ | (259) |
| $ | 375 |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block] | We allocated a portion of the purchase price to the specific intangible asset categories as follows:
| Amount Assigned (in millions) |  | Weighted Average Amortization Period (in years) |  | Risk-Adjusted Discount Rates used in Purchase Price Allocation
Amortizable intangible assets: |  |  |  |  |
Technology-related | $ | 308 |  |  | 11 |  | 14%
Customer relationships | 15 |  |  | 11 |  | 14%
Other intangible assets | 11 |  |  | 13 |  | 14%
| $ | 334 |  |  |  |  |
Baylis Medical |
Business Acquisition [Line Items] |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] |
(in millions) |
Payment for acquisition, net of cash acquired | $ | 1,463 |
| $ | 1,463 |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The final purchase price allocation was comprised of the following components:
(in millions) |  |
Goodwill | $ | 988 |  |
Amortizable intangible assets | 657 |  |
Other assets acquired | 112 |  |
Liabilities assumed | (287) |  |
Net deferred tax liabilities | (7) |  |
| $ | 1,463 |  |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block] | We allocated a portion of the purchase price to the specific intangible asset categories as follows:
| Amount Assigned (in millions) |  | Weighted Average Amortization Period (in years) |  | Risk-Adjusted Discount Rates used in Purchase Price Allocation
Amortizable intangible assets: |  |  |  |  |
Technology-related | $ | 622 |  |  | 11 |  | 11%
Other intangible assets | 36 |  |  | 11 |  | 11%
| $ | 657 |  |  |  |  |

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