Acquisitions (Tables)

12 Months Ended

Dec. 31, 2020

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):


	2020		2019		2018
Trade accounts receivable	$	487	$	9	$	41
Inventories	934		9		15
Property, plant and equipment	690		4		88
Goodwill	10,402		217		1,276
Other intangible assets, primarily technology, customer relationships and trade names	10,712		113		851
Trade accounts payable	(250)		(3)		(7)
Pension liabilities	(423)		—		—
Deferred tax liabilities	(1,167)		—		(21)
Other assets and liabilities, net	(414)		(18)		(46)
Net assets acquired	20,971		331		2,197
Less: noncash consideration	—		—		(24)
Net cash consideration	$	20,971	$	331	$	2,173

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 2020 discussed above, and all of the other 2020 acquisitions as a group ($ in millions):


	Cytiva		Others		Total
Trade accounts receivable	$	482	$	5	$	487
Inventories	930		4		934
Property, plant and equipment	689		1		690
Goodwill	10,171		231		10,402
Other intangible assets, primarily technology, customer relationships and trade names	10,656		56		10,712
Trade accounts payable	(247)		(3)		(250)
Pension liabilities	(423)		—		(423)
Deferred tax liabilities	(1,157)		(10)		(1,167)
Other assets and liabilities, net	(386)		(28)		(414)
Net cash consideration	$	20,715	$	256	$	20,971

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 2018 discussed above, and all of the other 2018 acquisitions as a group ($ in millions):


	IDT		Others		Total
Trade accounts receivable	$	36	$	5	$	41
Inventories	15		—		15
Property, plant and equipment	88		—		88
Goodwill	1,213		63		1,276
Other intangible assets, primarily technology, customer relationships and trade names	811		40		851

Trade accounts payable	(6)		(1)		(7)
Deferred tax liabilities	(21)		—		(21)
Other assets and liabilities, net	(34)		(12)		(46)

Net assets acquired	2,102		95		2,197
Less: noncash consideration	(24)		—		(24)
Net cash consideration	$	2,078	$	95	$	2,173

Results Of Operations If Acquisition Was Consummated

The unaudited pro forma information for the periods set forth below gives effect to the 2020 and 2019 acquisitions as if they had occurred as of January 1, 2019. 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):


	2020		2019
Sales	$	23,130	$	20,985
Net earnings from continuing operations	3,845		2,416
Diluted net earnings per common share from continuing operations (a)	5.16		3.21

(a) Diluted net earnings per common share from continuing operations is calculated by adding the interest on the Company’s LYONs to net earnings from continuing operations and deducting the MCPS dividends from net earnings from continuing operations.