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Acquisitions and Divestitures (Tables)
 12 Months Ended
Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]  
Schedule of Purchase Price Allocation of Net Tangible and Intangible Assets Acquired and Liabilities Assumed
We have completed the valuation of assets acquired and liabilities assumed and have recorded a purchase price allocation of:
(in millions)
Cash$22 
Receivables86 
Inventory70 
Other current assets3 
Property, plant and equipment139 
Operating leases right-of-use assets
23 
Definite-life intangible assets
218 
Indefinite-life intangible assets
339 
Goodwill721 
Other assets
3 
Assets acquired1,624 
Current liabilities182 
Deferred tax liability75 
Operating lease liabilities23 
Other liabilities14 
Total purchase price1,330 
   less: cash received
(22)
Net Cash Paid$1,308 
We have completed the valuation of assets acquired and liabilities assumed and have recorded a purchase price allocation of:
(in millions)
Cash$99 
Receivables76 
Inventory123 
Other current assets9 
Property, plant and equipment186 
Operating leases right-of-use assets
22 
Deferred tax assets107 
Definite-life intangible assets
200 
Indefinite-life intangible assets
1,450 
Goodwill988 
Other assets11 
Assets acquired3,271 
Current liabilities159 
Contingent consideration440 
Other liabilities15 
Total purchase price2,657 
   less: cash received
(99)
Net Cash Paid$2,558 
We have completed the valuation of assets acquired and liabilities assumed and have recorded a purchase price allocation of:
(in millions)
Cash$52 
Receivables102 
Inventory60 
Other current assets3 
Property, plant and equipment379 
Finance leases right-of-use assets
8 
Definite-life intangible assets
48 
Indefinite-life intangible assets
686 
Goodwill795 
Other assets77 
Assets acquired2,210 
Current liabilities133 
Deferred tax liability158 
Finance lease liabilities8 
Other liabilities21 
Total purchase price1,890 
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 were comprised of the following:
As of December 31, 2022
Assets held for sale
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 
Total assets held for sale$1,201 
Liabilities held for sale
Accrued employment costs$4 
Current liabilities held for sale (3)
4 
Deferred income taxes15 
Noncurrent liabilities held for sale (4)
15 
Total liabilities held for sale$19 
(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.