Acquisitions and Strategic Investments (Tables)

9 Months Ended

Sep. 30, 2021

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 nine months of 2021 were as follows:

(in millions)
Balance as of December 31, 2020	$	196
Amount recorded related to current year acquisitions	384
Contingent consideration net expense (benefit)	(117)
Contingent consideration payments	(14)
Balance as of September 30, 2021	$	448

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 September 30, 2021	Valuation Technique	Unobservable Input	Range			Weighted Average(1)
R&D, Regulatory and Commercialization-based Milestones	$109 million	Discounted Cash Flow	Discount Rate	1%	-	2%	1%
			Probability of Payment	20%	-	95%	79%
			Projected Year of Payment	2023	-	2027	2023
Revenue-based Payments	$340 million	Discounted Cash Flow	Discount Rate	4%	-	14%	6%
			Probability of Payment	100%			100%
			Projected Year of Payment	2021	-	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)	September 30, 2021		December 31, 2020
Equity method investments	$	266	$	319
Measurement alternative investments(1)	164		183
Publicly-held equity securities(2)	4		414
Notes receivable	—		2
	$	434	$	918

(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 equity securities are measured at fair value with changes in fair value recognized in Other, net within our accompanying unaudited consolidated statements of operations.

2021 Acquisitions

Business Acquisition [Line Items]

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

(in millions)	Preventice		Lumenis		Farapulse		Total
Payment for acquisition, net of cash acquired	$	706	$	1,039	$	268	$	2,014
Fair value of contingent consideration	221		—		162		384
Fair value of prior interest	269		—		222		491
	$	1,197	$	1,039	$	653	$	2,889

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

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

(in millions)	Preventice		Lumenis		Farapulse		Total
Goodwill	$	926	$	582	$	386	$	1,894
Amortizable intangible assets	237		459		267		964
Indefinite-lived intangible assets	—		—		43		43
Other assets acquired	65		115		9		190
Liabilities assumed	(32)		(86)		(10)		(127)
Net deferred tax liabilities	—		(32)		(43)		(74)
	$	1,197	$	1,039	$	653	$	2,889

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

	Amount Assigned (in millions)		Weighted Average Amortization Period (in years)	Risk-Adjusted Discount Rates used in Purchase Price Allocation
Preventice:
Amortizable intangible assets:
Technology-related	$	215	9	10%
Other intangible assets	22		8	10%
	$	237
Lumenis:
Amortizable intangible assets:
Technology-related	$	417	14	11%
Other intangible assets	42		13	11%
	$	459
Farapulse:
Amortizable intangible assets:
Technology-related	$	267	12	16%
Indefinite-lived intangible assets:
In-process research and development (IPR&D)	43		N/A	17%
	$	310