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Acquisitions and Divestitures (Tables)
 12 Months Ended
Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]  
Schedule of Purchase Price Allocation of Net Tangible and Intangible Assets Acquired and Liabilities Assumed
We are working to complete the valuation of assets acquired and liabilities assumed and have recorded a preliminary purchase price allocation of:
(in millions)
Cash$22 
Receivables86 
Inventory70 
Other current assets3 
Property, plant and equipment144 
Operating leases right of use assets17 
Definite life intangible assets218 
Indefinite life intangible assets339 
Goodwill714 
Assets acquired$1,613 
Current liabilities177 
Deferred tax liability77 
Operating lease liabilities17 
Other liabilities12 
Total purchase price$1,330 
Less: cash received(22)
Net Cash Paid$1,308 
We are working to complete the valuation of assets acquired and liabilities assumed and have recorded a preliminary purchase price allocation of:
(in millions)
Cash$99 
Receivables76 
Inventory124 
Other current assets9 
Property, plant and equipment186 
Operating leases right of use assets22 
Deferred tax assets92 
Definite life intangible assets200 
Indefinite life intangible assets1,450 
Goodwill1,020 
Other assets11 
Assets acquired$3,289 
Current liabilities159 
Contingent consideration440 
Other liabilities15 
Total purchase price$2,675 
Less: cash received(99)
Net Cash Paid$2,576 
We are working to complete the valuation of assets acquired and liabilities assumed and have recorded a preliminary purchase price allocation of:
(in millions)
Cash$52 
Receivables102 
Inventory60 
Other current assets3 
Property, plant and equipment379 
Finance leases right of use assets8 
Definite life intangible assets48 
Indefinite life intangible assets686 
Goodwill795 
Other assets77 
Assets acquired$2,210 
Current liabilities133 
Deferred tax liability158 
Finance lease liabilities8 
Other liabilities21 
Total purchase price$1,890 
Less: long-term debt(436)
Less: cash received(52)
Net Cash Paid$1,402 
We have recorded a purchase price allocation of net tangible and intangible assets acquired and liabilities assumed as follows:
 (in millions)
Receivables$29 
Inventory38
Other current assets6
Property, plant and equipment136
Operating right of use assets61
Definite-life intangible assets511
Indefinite-life intangible assets42
Goodwill531
Assets acquired$1,354 
Current liabilities42
Deferred tax liabilities92
Long-term operating lease liabilities56
Long-term debt6
Long-term other liabilities19
Total purchase price$1,139 
Less: cash received3
Net Cash Paid$1,136 
Schedule Assets and Liabilities Held-for-Sale
Total assets and liabilities held for sale as of December 31, 2022 on the consolidated balance sheets are comprised of the following:

(in millions)
Inventories, net$79 
Current assets held for sale (1)
$79 
Property, plant and equipment, net159
Goodwill292
Intangible assets, net671
Noncurrent assets held for sale (2)
$1,122 
Accrued employment costs4
Current liabilities held for sale (3)
$4 
Deferred income taxes15
Noncurrent liabilities held for sale (4)
$15 
(1)Reported in Other current assets on the consolidated balance sheets.
(2)Reported in Other assets on the consolidated balance sheets.
(3)Reported in Other current liabilities on the consolidated balance sheets.
(4)Reported in Other liabilities on the consolidated balance sheets.