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Acquisitions, Goodwill and Intangible Assets (Tables) | 12 Months Ended
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Jan. 02, 2022
Business Combination And Goodwill And Intangible Assets [Abstract] |
Schedule of Total Purchase Price | The total purchase price consisted of the following:
in millions | As Adjusted
Cash | $ | 2,862 |
Fair value of common stock issued | 4,975 |
Fair value of contingent consideration | 757 |
Fair value of previously held investment | 1,149 |
Settlement of preexisting relationships | 2 |
Total purchase price | $ | 9,745 |
Schedule of Preliminary Fair Value of Assets Acquired and Liabilities Assumed | The preliminary fair values of assets acquired and liabilities assumed were:
in millions | As Initially Reported |  | Measurement Period Adjustments |  | As Adjusted
Cash and cash equivalents | $ | 571 |  |  | $ | — |  |  | $ | 571 |
Property and equipment | 89 |  |  | — |  |  | 89 |
Operating lease right-of-use assets | 121 |  |  | — |  |  | 121 |
Goodwill | 6,082 |  |  | 15 |  |  | 6,097 |
Intangible assets | 3,180 |  |  | (60) |  |  | 3,120 |
Other current and noncurrent assets | 35 |  |  | — |  |  | 35 |
Deferred tax liability | (82) |  |  | 40 |  |  | (42) |
Long-term lease liabilities | (97) |  |  | — |  |  | (97) |
Other current and noncurrent liabilities | (148) |  |  | (1) |  |  | (149) |
Total net assets acquired | $ | 9,751 |  |  | $ | (6) |  |  | $ | 9,745 |
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination | The preliminary fair values assigned to identifiable intangible assets acquired were as follows:
in millions, except years | Fair Value (as adjusted) | Estimated Useful Life
Developed technology | $ | 2,410 |  | 18
Trade name | 40 |  | 9
In-process research and development (IPR&D) | 670 |  | Indefinite
Total intangible assets | $ | 3,120 |  |
Schedule of Unaudited Pro Forma Information | The following unaudited pro forma financial information summarizes the combined results of operations of Illumina and GRAIL as if the companies had been combined as of the beginning of our fiscal year 2020.
in millions |  |  |  |  | 2021 |  | 2020
Revenue |  |  |  |  | $ | 4,528 |  |  | $ | 3,239 |
Net income |  |  |  |  | $ | 661 |  |  | $ | 351 |
Schedule of Goodwill | Goodwill
In millions | Goodwill
Balance as of December 29, 2019 | $ | 824 |
Acquisitions | 73 |
Balance as of January 3, 2021 | 897 |
Acquisitions | 6,201 |
Measurement period adjustments | 15 |
Balance as of January 2, 2022 | $ | 7,113 |
Schedule of Finite-lived Intangible Assets |
| January 2, 2022 |  | January 3, 2021
In millions | Gross Carrying Amount |  | Accumulated Amortization |  | Intangible Assets, Net |  | Gross Carrying Amount |  | Accumulated Amortization |  | Intangible Assets, Net
Developed technologies | $ | 2,790 |  |  | $ | (291) |  |  | $ | 2,499 |  |  | $ | 352 |  |  | $ | (221) |  |  | $ | 131 |
Licensed technologies | 95 |  |  | (92) |  |  | 3 |  |  | 95 |  |  | (91) |  |  | 4 |
Trade name | 44 |  |  | (6) |  |  | 38 |  |  | 4 |  |  | (4) |  |  | — |
Customer relationships | 31 |  |  | (28) |  |  | 3 |  |  | 31 |  |  | (27) |  |  | 4 |
License agreements | 14 |  |  | (12) |  |  | 2 |  |  | 14 |  |  | (11) |  |  | 3 |
Total finite-lived intangible assets, net | 2,974 |  |  | (429) |  |  | 2,545 |  |  | 496 |  |  | (354) |  |  | 142 |
In-process research and development (IPR&D) | 705 |  |  | — |  |  | 705 |  |  | — |  |  | — |  |  | — |
Total intangible assets, net | $ | 3,679 |  |  | $ | (429) |  |  | $ | 3,250 |  |  | $ | 496 |  |  | $ | (354) |  |  | $ | 142 |
Schedule of Estimated Annual Amortization of Finite-lived Intangible Assets | The estimated future annual amortization of finite-lived intangible assets is shown in the following table. Actual amortization expense to be reported in future periods could differ from these estimates as a result of acquisitions, divestitures, and asset impairments, among other factors.
In millions | Estimated Annual Amortization
2022 | $ | 165 |
2023 | 164 |
2024 | 162 |
2025 | 162 |
2026 | 151 |
Thereafter | 1,741 |
Total | $ | 2,545 |

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