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FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Summary of Assets and Liabilities Measured at Fair Value

The following table summarizes the types of assets and liabilities measured at fair value on a recurring basis by level within the fair value hierarchy:

						September 30, 2022																								December 31, 2021
(in millions)						Level 1						Level 2						Level 3						Total						Level 1						Level 2						Level 3						Total
Assets:
Available-for-sale debt securities:
U.S. treasury securities						$	448					$	—					$	—					$	448					$	407					$	—					$	—					$	407
U.S. government agencies securities						—						19						—						19						—						4						—						4
Non-U.S. government securities						—						44						—						44						—						50						—						50
Certificates of deposit						—						65						—						65						—						249						—						249
Corporate debt securities						—						1,367						—						1,367						—						1,363						—						1,363
Residential mortgage and asset-backed securities						—						347						—						347						—						424						—						424
Equity securities:
Money market funds						3,316						—						—						3,316						3,661						—						—						3,661
Equity investment in Galapagos NV (“Galapagos”)						703						—						—						703						931						—						—						931
Equity investment in Arcus Biosciences, Inc. (“Arcus”)						361						—						—						361						559						—						—						559
Other publicly traded equity securities						205						—						—						205						331						—						—						331
Deferred compensation plan						208						—						—						208						261						—						—						261
Foreign currency derivative contracts						—						242						—						242						—						80						—						80
Total						$	5,242					$	2,084					$	—					$	7,325					$	6,150					$	2,170					$	—					$	8,320
Liabilities:
Liability for MYR GmbH (“MYR”) contingent consideration						$	—					$	—					$	249					$	249					$	—					$	—					$	317					$	317
Deferred compensation plan						208						—						—						208						261						—						—						261
Foreign currency derivative contracts						—						2						—						2						—						5						—						5
Total						$	208					$	2					$	249					$	458					$	261					$	5					$	317					$	583

Summary of Change in Fair Value of Contingent Consideration

The following table summarizes the change in fair value of our contingent consideration:

						Three Months Ended												Nine Months Ended
						September 30,												September 30,
(in millions)						2022						2021						2022						2021
Beginning balance						$	306					$	334					$	317					$	—
Additions						—						—						—						341
Changes in valuation assumptions						(30)						—						(19)						—
Effect of foreign exchange remeasurement						(27)						(7)						(49)						(13)
Ending balance						$	249					$	328					$	249					$	328

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- References

No definition available.

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- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258

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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/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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