Fair value measurement (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Fair Value of Financial Assets and Liabilities on Recurring Basis

The fair values of each major class of the Company’s financial assets and liabilities measured at fair value on a recurring basis were as follows (in millions):

	Quoted prices in active markets  for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Fair value measurement as of March 31, 2024, using:							Total
Assets:
Available-for-sale securities:
Money market mutual funds	$	9,099	$	—	$	—	$	9,099
Other short-term interest-bearing securities	—		138		—		138
Equity securities	3,985		—		—		3,985
Derivatives:
Foreign currency forward contracts	—		225		—		225
Total assets	$	13,084	$	363	$	—	$	13,447
Liabilities:
Derivatives:
Foreign currency forward contracts	$	—	$	43	$	—	$	43
Cross-currency swap contracts	—		429		—		429
Interest rate swap contracts	—		600		—		600
Contingent consideration obligations	—		—		96		96
Total liabilities	$	—	$	1,072	$	96	$	1,168

	Quoted prices in active markets  for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Fair value measurement as of December 31, 2023, using:							Total
Assets:
Available-for-sale securities:
Money market mutual funds	$	10,266	$	—	$	—	$	10,266
Other short-term interest-bearing securities	—		138		—		138
Equity securities	4,514		—		—		4,514
Derivatives:
Foreign currency forward contracts	—		145		—		145
Total assets	$	14,780	$	283	$	—	$	15,063
Liabilities:
Derivatives:
Foreign currency forward contracts	$	—	$	116	$	—	$	116
Cross-currency swap contracts	—		405		—		405
Interest rate swap contracts	—		571		—		571
Contingent consideration obligations	—		—		96		96
Total liabilities	$	—	$	1,092	$	96	$	1,188

Contingent Consideration Obligations

Changes in the carrying amounts of contingent consideration obligations were as follows (in millions):

	Three months ended March 31,
	2024		2023
Beginning balance	$	96	$	270
Payments	(2)		(2)
Net changes in valuations	2		5
Ending balance	$	96	$	273