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Identifiable Intangible Assets and Goodwill (Tables) | 6 Months Ended
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Jun. 28, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Finite-Lived Intangible Assets |
The following table provides the components of Identifiable intangible assets:
|  | June 28, 2020 |  | December 31, 2019
(MILLIONS OF DOLLARS) |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Identifiable Intangible Assets, less Accumulated Amortization |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Identifiable Intangible Assets, less Accumulated Amortization |
Finite-lived intangible assets |  |  |  |  |  |  |  |  |  |  |  |
Developed technology rights(a) |  | $ | 89,927 |  |  | $ | (64,683 | ) |  | $ | 25,244 |  |  | $ | 88,730 |  |  | $ | (63,106 | ) |  | $ | 25,625 |
Brands |  | 922 |  |  | (757 | ) |  | 165 |  |  | 922 |  |  | (741 | ) |  | 181 |
Licensing agreements and other(b) |  | 2,327 |  |  | (1,226 | ) |  | 1,101 |  |  | 1,772 |  |  | (1,191 | ) |  | 582 |
|  | 93,176 |  |  | (66,667 | ) |  | 26,509 |  |  | 91,425 |  |  | (65,037 | ) |  | 26,387 |
Indefinite-lived intangible assets |  |  |  |  |  |  |  |  |  |  |  |
Brands |  | 1,991 |  |  |  |  |  | 1,991 |  |  | 1,991 |  |  |  |  |  | 1,991 |
IPR&D(a) |  | 4,518 |  |  |  |  |  | 4,518 |  |  | 5,919 |  |  |  |  |  | 5,919 |
Licensing agreements and other(b) |  | 523 |  |  |  |  |  | 523 |  |  | 1,073 |  |  |  |  |  | 1,073 |
|  | 7,032 |  |  |  |  |  | 7,032 |  |  | 8,983 |  |  |  |  |  | 8,983 |
Identifiable intangible assets(c) |  | $ | 100,208 |  |  | $ | (66,667 | ) |  | $ | 33,541 |  |  | $ | 100,408 |  |  | $ | (65,037 | ) |  | $ | 35,370 |
(a) | The changes in the gross carrying amount of Developed technology rights and IPR&D primarily reflect the transfer of $1.4 billion from IPR&D to Developed technology rights to reflect the approval of Braftovi in combination with Erbitux® (cetuximab), for the treatment of BRAF V600E-mutant metastatic colorectal cancer after prior therapy.
(b) | The changes in the gross carrying amount of Licensing agreements and other primarily reflect the transfer of $550 million from Indefinite-lived Licensing agreements and other to finite-lived Licensing agreements and other to reflect the approval in the U.S. of several products subject to out-licensing arrangements acquired from Array.
(c) The decrease in I dentifiable intangible assets, less accumulated amortization, is primarily due to amortization.
Schedule of Indefinite Lived Intangible Assets |
The following table provides the components of Identifiable intangible assets:
|  | June 28, 2020 |  | December 31, 2019
(MILLIONS OF DOLLARS) |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Identifiable Intangible Assets, less Accumulated Amortization |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Identifiable Intangible Assets, less Accumulated Amortization |
Finite-lived intangible assets |  |  |  |  |  |  |  |  |  |  |  |
Developed technology rights(a) |  | $ | 89,927 |  |  | $ | (64,683 | ) |  | $ | 25,244 |  |  | $ | 88,730 |  |  | $ | (63,106 | ) |  | $ | 25,625 |
Brands |  | 922 |  |  | (757 | ) |  | 165 |  |  | 922 |  |  | (741 | ) |  | 181 |
Licensing agreements and other(b) |  | 2,327 |  |  | (1,226 | ) |  | 1,101 |  |  | 1,772 |  |  | (1,191 | ) |  | 582 |
|  | 93,176 |  |  | (66,667 | ) |  | 26,509 |  |  | 91,425 |  |  | (65,037 | ) |  | 26,387 |
Indefinite-lived intangible assets |  |  |  |  |  |  |  |  |  |  |  |
Brands |  | 1,991 |  |  |  |  |  | 1,991 |  |  | 1,991 |  |  |  |  |  | 1,991 |
IPR&D(a) |  | 4,518 |  |  |  |  |  | 4,518 |  |  | 5,919 |  |  |  |  |  | 5,919 |
Licensing agreements and other(b) |  | 523 |  |  |  |  |  | 523 |  |  | 1,073 |  |  |  |  |  | 1,073 |
|  | 7,032 |  |  |  |  |  | 7,032 |  |  | 8,983 |  |  |  |  |  | 8,983 |
Identifiable intangible assets(c) |  | $ | 100,208 |  |  | $ | (66,667 | ) |  | $ | 33,541 |  |  | $ | 100,408 |  |  | $ | (65,037 | ) |  | $ | 35,370 |
(a) | The changes in the gross carrying amount of Developed technology rights and IPR&D primarily reflect the transfer of $1.4 billion from IPR&D to Developed technology rights to reflect the approval of Braftovi in combination with Erbitux® (cetuximab), for the treatment of BRAF V600E-mutant metastatic colorectal cancer after prior therapy.
(b) | The changes in the gross carrying amount of Licensing agreements and other primarily reflect the transfer of $550 million from Indefinite-lived Licensing agreements and other to finite-lived Licensing agreements and other to reflect the approval in the U.S. of several products subject to out-licensing arrangements acquired from Array.
(c) The decrease in I dentifiable intangible assets, less accumulated amortization, is primarily due to amortization.
Identifiable Intangible Assets as a Percentage of Total Identifiable Intangible Assets Less Accumulated Amortization, By Segment |
Our identifiable intangible assets are associated with the following, as a percentage of total identifiable intangible assets, less accumulated amortization:
|  | June 28, 2020
|  | Biopharma |  | Upjohn |  | WRDM
Developed technology rights |  | 99 | % |  | 1 | % |  | — |
Brands, finite-lived |  | 100 | % |  | — |  |  | — |
Brands, indefinite-lived |  | 42 | % |  | 58 | % |  | — |
IPR&D |  | 94 | % |  | — |  |  | 6 | %
Licensing agreements and other, finite-lived |  | 99 | % |  | 1 | % |  | 1 | %
Licensing agreements and other, indefinite-lived |  | 100 | % |  | — |  |  | — |
Schedule of Goodwill |
The following table provides the components of and changes in the carrying amount of Goodwill:
(MILLIONS OF DOLLARS) |  | Biopharma |  | Upjohn |  | Total
Balance, December 31, 2019 |  | $ | 48,202 |  |  | $ | 10,451 |  |  | $ | 58,653 |
Other(a) |  | (155 | ) |  | (49 | ) |  | (204 | )
Balance, June 28, 2020 |  | $ | 48,047 |  |  | $ | 10,401 |  |  | $ | 58,449 |
(a) Primarily represents the impact of foreign exchange.

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