Acquisitions and Dispositions (Tables)

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

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

The components of the purchase price and net assets acquired for 2019 acquisitions are as follows:

(In millions)	Brammer Bio		Other		Total
Purchase Price
Cash paid	$	1,710	$	169	$	1,879
Cash acquired	(36)		—		(36)
	$	1,674	$	169	$	1,843
Net Assets Acquired
Current assets	$	52	$	58	$	110
Property, plant and equipment	147		102		249
Definite-lived intangible assets:
Customer relationships	744		—		744
Product technology	65		7		72
Tradenames	7		—		7
Goodwill	938		9		947
Other assets	49		—		49
Contract liabilities	(110)		—		(110)
Deferred tax liabilities	(110)		(6)		(116)
Other liabilities assumed	(108)		(1)		(109)
	$	1,674	$	169	$	1,843

The components of the purchase price and net assets acquired for 2018 acquisitions are as follows:

(In millions)	Advanced Bioprocessing business		Other		Total
Purchase Price
Cash paid	$	477	$	55	$	532
Fair value of contingent consideration	—		11		11
Cash acquired	—		(1)		(1)
	$	477	$	65	$	542
Net Assets Acquired
Current assets	$	53	$	4	$	57
Property, plant and equipment	42		—		42
Definite-lived intangible assets:
Customer relationships	108		—		108
Product technology	132		31		163
Tradenames	8		—		8
Indefinite-lived intangible assets:
In-process research and development	—		10		10
Goodwill	146		15		161
Other assets	—		14		14
Deferred tax liabilities	(7)		—		(7)
Other liabilities assumed	(5)		(9)		(14)
	$	477	$	65	$	542

The components of the purchase price and net assets acquired for 2017 acquisitions are as follows:

(In millions)	Patheon		Other		Total
Purchase Price
Cash paid	$	6,911	$	422	$	7,333
Debt assumed	488		—		488
Fair value of contingent consideration	—		17		17
Fair value of equity awards exchanged	6		—		6
Fair value of previously held interest	—		11		11
Cash acquired	(47)		(25)		(72)
	$	7,358	$	425	$	7,783
Net Assets Acquired
Current assets	$	1,062	$	39	$	1,101
Property, plant and equipment	1,242		4		1,246
Definite-lived intangible assets:
Customer relationships	3,641		90		3,731
Product technology	—		96		96
Tradenames	112		5		117
Indefinite-lived intangible assets:
In-process research and development	—		2		2
Goodwill	3,276		263		3,539
Other assets	54		—		54
Deferred tax liabilities	(1,093)		(40)		(1,133)
Other liabilities assumed	(936)		(34)		(970)
	$	7,358	$	425	$	7,783

Business Acquisition, Pro Forma Information [Table Text Block]

Unaudited Pro Forma Information

The following unaudited pro forma information provides the effect of the company's 2017 acquisition of Patheon as if the acquisition had occurred on January 1, 2016:

(In millions)	2017
Revenues	$	22,144
Net Income	$	2,258

Disposal Groups, Including Discontinued Operations [Table Text Block]

Disposition

On June 28, 2019, the company sold its Anatomical Pathology business to PHC Holdings Corporation for $1.13 billion, net of cash divested. The business was part of the Specialty Diagnostics segment. The sale of this business resulted in a pre-tax gain of approximately $478 million, included in restructuring and other (income) costs, net. Revenues in 2019, through the date of sale, and the full year 2018 of the business sold were approximately $115 million and $238 million, respectively, net of retained sales through the company's healthcare market and research and safety market channel businesses. The assets and liabilities of the Anatomical Pathology business were as follows on December 31, 2018:

(In millions)	December 31, 2018
Current Assets	$	81
Long-term Assets	528
Current Liabilities	34
Long-term Liabilities	24