XML 89 R33.htm IDEA: XBRL DOCUMENT v3.22.4
Acquisitions and Strategic Investments (Tables)
 12 Months Ended
Dec. 31, 2022
Business Acquisition [Line Items]  
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]
We allocated a portion of the purchase price to the specific intangible asset categories as follows:
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$215 910%
Other intangible assets22 810%
$237 
Lumenis:
Amortizable intangible assets:
Technology-related$388 1211%
Other intangible assets35 1111%
Indefinite-lived intangible assets:
IPR&D69 N/A12%
$492 
All Other:
Amortizable intangible assets:
Technology-related$465 1216%-17%
Indefinite-lived intangible assets:
IPR&D43 N/A17%
$508 
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] Changes in the fair value of our contingent consideration liability were as follows:
(in millions)
Balance as of December 31, 2020$196 
Amount recorded related to current year acquisitions440 
Contingent consideration net expense (benefit)(136)
Contingent consideration payments(15)
Balance as of December 31, 2021$486 
Contingent consideration net expense (benefit)35 
Contingent consideration payments(371)
Balance as of December 31, 2022$149 
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 LiabilityFair Value as of December 31, 2022Valuation TechniqueUnobservable InputRange
Weighted Average(1)
R&D, Regulatory and Commercialization-based Milestones$13 millionDiscounted Cash FlowDiscount Rate1%-2%2%
Probability of Payment10%-25%22%
Projected Year of Payment2023-20252024
Revenue-based Payments$136 millionDiscounted Cash FlowDiscount Rate6 %-14%7%
Probability of Payment100%100%
Projected Year of Payment2023-20242023
(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 December 31,
(in millions)20222021
Equity method investments$188 $259 
Measurement alternative investments(1)
216 142 
Publicly-held securities(2)
2 10 
Notes receivable1 — 
$407 $412 
(1)    Measurement alternative investments are privately-held equity securities or agreements for future equity 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 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 consolidated statements of operations.
Baylis Medical  
Business Acquisition [Line Items]  
Schedule of Business Acquisitions, by Acquisition [Table Text Block]
(in millions)
Payment for acquisition, net of cash acquired$1,463 
$1,463 
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]
The final purchase price allocation was comprised of the following components:
(in millions)
Goodwill$988 
Amortizable intangible assets657 
Other assets acquired112 
Liabilities assumed(287)
Net deferred tax liabilities(7)
$1,463 
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]
We allocated a portion of the purchase price to the specific intangible asset categories as follows:
Amount Assigned
(in millions)
Weighted Average Amortization Period
(in years)
Risk-Adjusted Discount
Rates used in Purchase Price Allocation
Amortizable intangible assets:
Technology-related$622 1111%
Other intangible assets36 1111%
$657 
2021 Acquisitions  
Business Acquisition [Line Items]  
Schedule of Business Acquisitions, by Acquisition [Table Text Block] in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 805, Business Combinations.
(in millions)PreventiceLumenisAll OtherTotal
Payment for acquisition, net of cash acquired$706 $1,032 $519 $2,258 
Fair value of contingent consideration221 — 218 440 
Fair value of prior interest269 — 287 556 
$1,197 $1,032 $1,025 $3,254 
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]
The final purchase price allocation for these acquisitions was comprised of the following components:
(in millions)PreventiceLumenisAll OtherTotal
Goodwill$926 $534 $594 $2,053 
Amortizable intangible assets237 423 465 1,125 
Indefinite-lived intangible assets— 69 43 112 
Other assets acquired65 297 9 372 
Liabilities assumed(32)(282)(11)(325)
Net deferred tax liabilities— (9)(75)(84)
$1,197 $1,032 $1,025 $3,254