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ACQUISITIONS, DIVESTITURES, LICENSING AND OTHER ARRANGEMENTS (Tables)
 12 Months Ended
Dec. 31, 2021
Acquisitions and Divestitures [Abstract]  
Schedule of Consideration Transferred
The total consideration for the acquisition consisted of the following:
Amounts in Millions, Except Per Share DataTotal Consideration
Celgene shares outstanding at November 19, 2019714.9 
Cash per share$50 
Cash consideration for outstanding shares35,745 
Celgene shares outstanding at November 19, 2019714.9 
Closing price of BMS common stock on November 19, 2019$56.48 
Estimated fair value of share consideration40,378 
Celgene shares outstanding at November 19, 2019714.9 
Closing price of CVR(a)
$2.30 
Fair value of CVRs1,644 
Fair value of replacement options1,428 
Fair value of replacement restricted share awards987 
Fair value of CVRs issued to option and share award holders87 
Fair value of share-based compensation awards attributable to pre-combination service(b)
2,502 
Total consideration transferred$80,269 
(a)    The closing price of CVR is based on the first trade on November 21, 2019.
(b)    Fair value of the awards attributed to post-combination services of $1.0 billion were included in compensation costs. Refer to “—Note 18. Employee Stock Benefit Plans” for more information.
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The purchase price allocation resulted in the following amounts being allocated to the assets acquired and liabilities assumed at the Acquisition Date based upon their respective fair values summarized below:
Dollars in MillionsPurchase Price Allocation
Cash and cash equivalents$11,179 
Receivables2,652 
Inventories4,511 
Property, plant and equipment1,065 
Intangible assets(a)
63,927 
Otezla* assets held-for-sale(b)
13,400 
Other assets3,451 
Accounts payable(363)
Income taxes payable(2,756)
Deferred income tax liabilities(5,003)
Debt(21,782)
Other liabilities(4,002)
Identifiable net assets acquired66,279 
Goodwill(c)
13,990 
Total consideration transferred$80,269 
(a)    Intangible assets consists of currently marketed product rights of approximately $44.4 billion (amortized over 5.1 years calculated using the weighted-average useful life of the assets) and IPRD of approximately $19.5 billion (not amortized), and were valued using the multi-period excess earnings method. This method starts with a forecast of all of the expected future net cash flows associated with the asset and then involves adjusting the forecast to present value by applying an appropriate discount rate that reflects the risk factors associated with the cash flow streams.
(b)    Amount includes $381 million of inventory, $13.0 billion of developed product rights, $19 million of accrued liabilities and $5 million of other non-current liabilities. Refer to “—Divestitures” for more information.
(c)    Goodwill represents the going-concern value associated with future product discovery beyond the existing pipeline and expected value of synergies resulting from cost savings and avoidance not attributed to identifiable assets. Goodwill is not deductible for tax purposes.
Business Acquisition, Pro Forma Information
The above adjustments were adjusted for the applicable tax impact using an estimated weighted-average statutory tax rate applied to the applicable pro forma adjustments.
Year Ended December 31,
Amounts in Million20192018
Total Revenues$39,759 $36,243 
Net Earnings3,369 (4,083)
Schedule of Consideration Transferred - Asset Acquisition
The following summarizes the total consideration transferred and allocation of consideration transferred to the assets acquired and liabilities assumed:

Amounts in MillionAmounts
Cash consideration for outstanding shares$12,030 
Cash consideration for stock awards1,059 
Consideration paid13,089 
Less: Charge for unvested stock awards(a)
482 
Transaction costs53 
Consideration to be allocated$12,660 
Other intangible assets(b)
$11,553 
Cash and cash equivalents861 
Deferred income taxes295 
Other assets177 
Other liabilities(226)
Total assets acquired, net$12,660 
(a)    Represents the accelerated vesting of MyoKardia stock awards and included in Marketing, selling and administrative expense ($241 million) and Research and development expense ($241 million) as of December 31, 2020.
(b)    Includes IPRD of $11.4 billion (of which $11.1 billion related to mavacamten) and licenses of $115 million.
Divestitures
Divestitures

The following table summarizes the financial impact of divestitures including royalties, which are included in Other (income)/expense, net. Revenue and pretax earnings related to all divestitures were not material in all periods presented (excluding divestiture gains or losses).
Proceeds(a)
Divestiture (Gains)/LossesRoyalty Income
Dollars in Millions202120202019202120202019202120202019
Diabetes Business$612 $558 $661 $— $— $— $(622)$(567)$(650)
Otezla*— — 13,400 — — — — — — 
UPSA Business— — 1,508 — — (1,157)— — — 
Mature Brands and Other136 157 73 (9)(55)(11)(44)(77)(36)
Total$748 $715 $15,642 $(9)$(55)$(1,168)$(666)$(644)$(686)
(a)    Includes royalties received subsequent to the related sale of the asset or business.
Licensing and Other Arrangements
The following table summarizes the financial impact of Keytruda* royalties, Tecentriq* royalties, up-front licensing fees and milestones for products that have not obtained commercial approval, which are included in Other (income)/expense, net.
Year Ended December 31,
Dollars in Millions202120202019
Keytruda* royalties
$(841)$(681)$(545)
Tecentriq* royalties
(90)(19)— 
Up-front licensing fees(34)(30)(29)
Contingent milestone income(18)(72)(31)
Amortization of deferred income(39)(58)(58)
Other royalties(45)(23)(11)
Total$(1,067)$(883)$(674)