Acquisitions (Tables)

12 Months Ended

Dec. 31, 2023

Fair Values of the Assets Acquired and Liabilities Assumed

The following summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition ($ in millions):


	2023		2022		2021
Trade accounts receivable	$	86	$	4	$	64
Inventories	94		7		119
Property, plant and equipment	158		9		162
Goodwill	3,851		389		7,187
Other intangible assets, primarily developed technology, trade names and customer relationships	2,146		200		4,009
Trade accounts payable	(32)		(1)		(23)

Deferred tax liabilities	(519)		(10)		(365)
Other assets and liabilities, net	(49)		(16)		(177)
Net assets acquired	5,735		582		10,976
Less: noncash consideration	(125)		—		(75)
Net cash consideration	$	5,610	$	582	$	10,901

The following summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition for the individually significant acquisition in 2021 discussed above, and all of the other 2021 acquisitions as a group ($ in millions):


	Aldevron		Other		Total
Trade accounts receivable	$	46	$	18	$	64
Inventories	93		26		119
Property, plant and equipment	150		12		162
Goodwill	6,149		1,038		7,187
Other intangible assets, primarily developed technology, trade names and customer relationships	3,483		526		4,009
Trade accounts payable	(15)		(8)		(23)

Deferred tax liabilities	(249)		(116)		(365)
Other assets and liabilities, net	(73)		(104)		(177)

Net assets acquired	9,584		1,392		10,976
Less: noncash consideration	(23)		(52)		(75)
Net cash consideration	$	9,561	$	1,340	$	10,901

Results of Operations if Acquisition was Consummated

The pro forma information is presented for informational purposes only and is not necessarily indicative of the results of operations that actually would have been achieved had the acquisitions been consummated as of that time ($ in millions except per share amounts):


	2023		2022
Sales	$	24,335	$	27,132
Net earnings from continuing operations	4,181		6,064
Diluted net earnings per common share from continuing operations (a)	5.60		8.11

(a) Diluted net earnings from continuing operations is calculated by taking net earnings from continuing operations and deducting the anti-dilutive MCPS dividends.