XML 63 R38.htm IDEA: XBRL DOCUMENT v3.19.3

Fair Value Measurement (Tables)

9 Months Ended

Sep. 30, 2019

Summary of Financial Items Carried at Fair Value

Financial items carried at fair value as of September 30, 2019 and December 31, 2018 are classified in the tables below in one of the three categories described above:

		September 30, 2019
		Level 1				Level 2				Level 3				Total
		(U.S. $ in millions)
Cash and cash equivalents:
Money markets		$	176			$	—			$	—			$	176
Cash, deposits and other			1,065				—				—				1,065
Investment in securities:
Equity securities			45				—				—				45
Other, mainly debt securities			2				—				12				14
Derivatives:
Asset derivatives—options and forward contracts			—				40				—				40
Asset derivatives—cross-currency swaps							105				—				105
Liability derivatives—options and forward contracts			—				(18	)			—				(18	)
Contingent consideration*			—				—				(430	)			(430	)
Total		$	1,288			$	127			$	(418	)		$	997
		December 31, 2018
		Level 1				Level 2				Level 3				Total
		(U.S. $ in millions)
Cash and cash equivalents:
Money markets		$	203			$	—			$	—			$	203
Cash, deposits and other			1,579				—				—				1,579
Investment in securities:
Equity securities			51				—				—				51
Other, mainly debt securities			2				—				10				12
Derivatives:
Asset derivatives—options and forward contracts			—				18				—				18
Asset derivatives—interest rate and cross-currency swaps			—				58				—				58
Liability derivatives—options and forward contracts			—				(26	)			—				(26	)
Liability derivatives—interest rate and cross-currency swaps			—				(50	)			—				(50	)
Contingent consideration*			—				—				(507	)			(507	)
Total		$	1,835			$	—			$	(497	)		$	1,338

* Contingent consideration represents liabilities recorded at fair value in connection with acquisitions.

Summary of Fair Value of Financial Liabilities Measured Using Level 3 Inputs

The following table summarizes the activity for those financial assets and liabilities where fair value measurements are estimated utilizing Level 3 inputs:

		Nine months ended September 30, 2019
		(U.S. $ in millions)
Fair value at the beginning of the period		$	(497	)
Revaluation of debt securities			3
Adjustments to provisions for contingent consideration:
Actavis Generics transaction			96
Eagle transaction			(100	)
Settlement of contingent consideration:
Eagle transaction			80
Fair value at the end of the period		$	(418	)

Summary of Financial Instrument Measured on a Basis Other Than Fair Value

Financial instruments not measured at fair value

Financial instruments measured on a basis other than fair value mostly consist of senior notes and convertible senior debentures and are presented in the table below in terms of fair value:

		Fair value*
		September 30,				December 31,
		2019				2018
		(U.S. $ in millions)
Senior notes included under senior notes and loans		$	19,097			$	23,560
Senior notes and convertible senior debentures included under short-term debt			2,933				2,140
Total		$	22,030			$	25,700

* The fair value was based on quoted market price.

X

- Definition

Tabular disclosure of assets measured at fair value measured on a recurring or nonrecurring basis. Includes, but is not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnRecurringAndNonrecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258

+ Details

Name:	us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

+ Details

Name:	us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration