Acquisitions and Strategic Investments (Tables)

3 Months Ended

Mar. 31, 2022

Business Acquisition [Line Items]

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

Changes in the fair value of our contingent consideration liability during the first quarter of 2022 were as follows:

(in millions)
Balance as of December 31, 2021	$	486
Contingent consideration net expense (benefit)	12
Contingent consideration payments	(41)
Balance as of March 31, 2022	$	456

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

The recurring Level 3 fair value measurements of our contingent consideration liability that we expect to be required to settle include the following significant unobservable inputs:

Contingent Consideration Liability	Fair Value as of March 31, 2022	Valuation Technique	Unobservable Input	Range			Weighted Average(1)
R&D, Regulatory and Commercialization-based Milestones	$147 million	Discounted Cash Flow	Discount Rate	1%	-	2%	1%
			Probability of Payment	80%	-	100%	92%
			Projected Year of Payment	2022	-	2024	2023
Revenue-based Payments	$308 million	Discounted Cash Flow	Discount Rate	4%	-	14%	6%
			Probability of Payment	100%			100%
			Projected Year of Payment	2022	-	2024	2022

(1)    Unobservable inputs were weighted by the relative fair value of the contingent consideration liability. For projected year of payment, the amount represents the median of the inputs and is not a weighted average.

Investment [Table Text Block]

The aggregate carrying amount of our strategic investments was comprised of the following:

	As of
(in millions)	March 31, 2022		December 31, 2021
Equity method investments	$	226	$	259
Measurement alternative investments(1)	165		142
Publicly-held securities(2)	8		10
Notes receivable	7		—
	$	406	$	412

(1)    Measurement alternative investments are privately-held equity securities without readily determinable fair values that are measured at cost less impairment, if any, adjusted to fair value for any observable price changes in orderly transactions for the identical or a similar investment of the same issuer, recognized in Other, net within our accompanying unaudited consolidated statements of operations.

(2)    Publicly-held securities are measured at fair value with changes in fair value recognized in Other, net within our accompanying unaudited consolidated statements of operations.

Baylis Medical

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

The final determination of the fair value of certain assets and liabilities will be completed within the measurement period in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 805, Business Combinations.

(in millions)
Payment for acquisition, net of cash acquired	$	1,471
	$	1,471

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

The preliminary purchase price allocation was comprised of the following components:

(in millions)
Goodwill	$	988
Amortizable intangible assets	657
Other assets acquired	113
Liabilities assumed	(280)
Net deferred tax liabilities	(8)
	$	1,471

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]

We allocated a portion of the preliminary purchase price to the specific intangible asset categories as follows:

	Amount Assigned (in millions)		Weighted Average Amortization Period (in years)	Risk-Adjusted Discount Rates used in Purchase Price Allocation
Amortizable intangible assets:
Technology-related	$	622	11	11%
Other intangible assets	36		11	11%
	$	657

Preventice

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

The final purchase price was comprised of the following components:

(in millions)
Payment for acquisition, net of cash acquired	$	706
Fair value of contingent consideration	221
Fair value of prior interest	269
	$	1,197

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

(in millions)
Goodwill	$	926
Amortizable intangible assets	237
Other assets acquired	65
Liabilities assumed	(32)
	$	1,197

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]

We allocated a portion of the purchase price to the specific intangible asset categories as follows:

	Amount Assigned (in millions)		Weighted Average Amortization Period (in years)	Risk-Adjusted Discount Rates used in Purchase Price Allocation
Amortizable intangible assets:
Technology-related	$	215	9	10%
Other intangible assets	22		8	10%
	$	237