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Acquisitions and Divestitures (Tables)
 6 Months Ended
Jun. 30, 2023
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 
Goodwill712 
Other assets3
Assets acquired$1,614 
Current liabilities177 
Deferred tax liability78 
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 
Inventory123 
Other current assets9 
Property, plant and equipment186 
Operating leases right of use assets22 
Deferred tax assets96 
Definite-life intangible assets200 
Indefinite-life intangible assets1,450 
Goodwill999 
Other assets11 
Assets acquired$3,271 
Current liabilities159 
Contingent consideration440 
Other liabilities15 
Total purchase price$2,657 
Less: cash received(99)
Net Cash Paid$2,558 
We have recorded a purchase price allocation of net tangible and intangible assets acquired and liabilities assumed as follows:
(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 
Schedule Assets and Liabilities Held-for-Sale
Total assets and liabilities held for sale are comprised of the following:

As of June 30,
2023		As of December 31, 2022
(in millions)
Inventories, net$98 $79 
Current assets held for sale (1)
$98 $79 
Property, plant and equipment, net168159
Goodwill292292
Intangible assets, net702671
Noncurrent assets held for sale (2)
$1,162 $1,122 
Accrued employment costs— 4
Current liabilities held for sale (3)
$— $4 
Accrued pension costs1— 
Deferred income taxes1515
Noncurrent liabilities held for sale (4)
$16 $15 
(1)Reported in Other current assets on the condensed consolidated balance sheets.
(2)Reported in Other assets on the condensed consolidated balance sheets.
(3)Reported in Other current liabilities on the condensed consolidated balance sheets.
(4)Reported in Other liabilities on the condensed consolidated balance sheets.