Acquisitions (Tables)

12 Months Ended

Dec. 31, 2021

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):


	2021		2020		2019
Trade accounts receivable	$	65	$	487	$	9
Inventories	120		934		9
Property, plant and equipment	162		690		4
Goodwill	7,235		10,402		217
Other intangible assets, primarily technology, customer relationships and trade names	4,021		10,712		113

Trade accounts payable	(23)		(250)		(3)
Pension liabilities	—		(423)		—
Deferred tax liabilities	(367)		(1,167)		—
Other assets and liabilities, net	(177)		(414)		(18)
Net assets acquired	11,036		20,971		331
Less: noncash consideration	(75)		—		—
Net cash consideration	$	10,961	$	20,971	$	331

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		Others		Total
Trade accounts receivable	$	46	$	19	$	65
Inventories	93		27		120
Property, plant and equipment	150		12		162
Goodwill	6,149		1,086		7,235
Other intangible assets, primarily technology, customer relationships and trade names	3,483		538		4,021

Trade accounts payable	(15)		(8)		(23)

Deferred tax liabilities	(249)		(118)		(367)
Other assets and liabilities, net	(73)		(104)		(177)
Net assets acquired	9,584		1,452		11,036
Less: noncash consideration	(23)		(52)		(75)
Net cash consideration	$	9,561	$	1,400	$	10,961

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		Other		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

Results Of Operations If Acquisition Was Consummated

The unaudited pro forma information for the periods set forth below gives effect to the 2021 and 2020 acquisitions as if they had occurred as of January 1, 2020. 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):


	2021		2020
Sales	$	29,746	$	23,471
Net earnings from continuing operations	6,279		3,070
Diluted net earnings per common share from continuing operations (a)	8.41		4.08

(a) Diluted net earnings per common share from continuing operations is calculated by adding the interest on the Company’s Liquid Yield Option Notes (“LYONs”) to net earnings from continuing operations and deducting the MCPS dividends from net earnings from continuing operations for the anti-dilutive MCPS shares.