FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2018

Schedule of components and classification of financial assets and liabilities measured at fair value

The following fair value hierarchy table presents the components and classification of the Company’s financial assets and liabilities measured at fair value on a recurring basis.



	September 30, 2018										December 31, 2017
(in millions)	Carrying Value			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)			Carrying Value			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents	$	251		$	227	$	24	$	—		$	265		$	230	$	35	$	—
Restricted cash	$	—		$	—	$	—	$	—		$	77		$	77	$	—	$	—
Liabilities:
Acquisition-related contingent consideration	$	(336	)	$	—	$	—	$	(336	)	$	(387	)	$	—	$	—	$	(387	)

Schedule of reconciliation of contingent consideration obligations measured on a recurring basis using significant unobservable inputs (Level 3)

The following table presents a reconciliation of contingent consideration obligations measured on a recurring basis using significant unobservable inputs (Level 3) for the nine months ended September 30,:



(in millions)	2018						2017
Balance, beginning of period				$	387					$	892
Adjustments to Acquisition-related contingent consideration:
Accretion for the time value of money	$	18					$	48
Fair value adjustments to the future royalty payments for Addyi^®	—						(312		)
Fair value adjustments due to changes in estimates of other future payments	(41		)				(33		)
Acquisition-related contingent consideration				(23		)				(297		)
Reclassified to liabilities held for sale				—						(168		)
Payments				(28		)				(37		)
Balance, end of period				336						390
Current portion included in Accrued and other current liabilities				54						45
Non-current portion				$	282					$	345