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Fair Value Measurements and Fair Value of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2020
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] The following tables present information about the company’s financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2020 and December 31, 2019:
December 31,Quoted
Prices in
Active
Markets
Significant
Other
Observable
 Inputs
Significant
Unobservable
Inputs
(In millions)2020(Level 1)(Level 2)(Level 3)
Assets
Cash equivalents
$8,971 $8,971 $— $— 
Investments in common stock, mutual funds and other similar instruments
21 21 — — 
Warrants
— — 
Insurance contracts
157 — 157 — 
Derivative contracts
28 — 28 — 
Total Assets
$9,184 $8,992 $192 $— 
Liabilities
Derivative contracts
$132 $— $132 $— 
Contingent consideration
70 — — 70 
Total Liabilities
$202 $— $132 $70 

December 31,Quoted
Prices in
 Active
Markets
Significant
Other
Observable
 Inputs
Significant
 Unobservable
 Inputs
(In millions)2019(Level 1)(Level 2)(Level 3)
Assets
Cash equivalents
$1,280 $1,280 $— $— 
Investments in common stock, mutual funds and other similar instruments
19 19 — — 
Warrants
— — 
Insurance contracts
131 — 131 — 
Derivative contracts
37 — 37 — 
Total Assets
$1,473 $1,299 $174 $— 
Liabilities
Derivative contracts
$24 $— $24 $— 
Contingent consideration
55 — — 55 
Total Liabilities
$79 $— $24 $55 
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] The following table provides a rollforward of the fair value, as determined by level 3 inputs, of the contingent consideration.
(In millions)20202019
Contingent Consideration
Balance at Beginning of Year
$55 $37 
Acquisitions (including assumed balances)
28 24 
Payments
(4)(3)
Changes in fair value included in earnings
(9)(3)
Balance at End of Year
$70 $55 
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]
The following table provides the aggregate notional value of outstanding derivative contracts.
December 31,December 31,
(In millions)20202019
Notional Amount
Interest rate swaps - fair value hedges (described in Note 10)
$1,000 $1,000 
Cross-currency interest rate swaps - designated as net investment hedges
900 900 
Currency exchange contracts
5,206 2,846 
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]
 Fair Value – AssetsFair Value – Liabilities
 December 31,December 31,December 31,December 31,
(In millions)2020201920202019
Derivatives Designated as Hedging Instruments
Interest rate swaps (a)
$25 $— $— $13 
Cross-currency interest rate swaps (a)
— 33 46 — 
Derivatives Not Designated as Hedging Instruments
Currency exchange contracts (b)
86 11 
Total Derivatives
$28 $37 $132 $24 
(a)The fair values of the interest rate swaps and cross-currency interest rate swaps are included in the consolidated balance sheet under the caption other assets or other long-term liabilities.
(b)The fair value of the currency exchange contracts is included in the consolidated balance sheet under the captions other current assets or other accrued expenses.
The following amounts related to cumulative basis adjustments for fair value hedges were included in the consolidated balance sheet under the caption long-term obligations:
Carrying Amount of the Hedged Liability Cumulative Amount of Fair Value Hedging Adjustment - Increase (Decrease) Included in Carrying Amount of Liability
December 31,December 31,December 31,December 31,
(In millions)2020201920202019
Long-term Obligations$1,020 $980 $25 $(13)
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]
 Gain (Loss) Recognized
(In millions)20202019
Fair Value Hedging Relationships
Interest rate swaps
Hedged long-term obligations - included in other expense, net
$(38)$(93)
Derivatives designated as hedging instruments - included in other expense, net
38 97 
Derivatives Designated as Cash Flow Hedges
Interest rate swaps
Included in unrealized losses on hedging instruments within other comprehensive items
(85)(50)
Amount reclassified from accumulated other comprehensive items to other expense, net
(59)(25)
Financial Instruments Designated as Net Investment Hedges
Foreign currency-denominated debt
Included in currency translation adjustment within other comprehensive items
(873)60 
Cross-currency interest rate swaps
Included in currency translation adjustment within other comprehensive items
(79)49 
Included in other expense, net
11 48 
Derivatives Not Designated as Hedging Instruments
Currency exchange contracts
Included in cost of product revenues
(17)
Included in other expense, net
(81)52 
Cross-currency interest rate swaps
Included in other expense, net
(9)— 
Fair Value, by Balance Sheet Grouping [Table Text Block]
The carrying value and fair value of the company’s debt obligations are as follows:
December 31, 2020December 31, 2019
CarryingFairCarryingFair
(In millions)ValueValueValueValue
Debt Obligations:
Senior notes
$21,723 $24,653 $17,736 $18,650 
Other
12 12 16 16 
$21,735 $24,665 $17,752 $18,666 
The fair value of debt obligations was determined based on quoted market prices and on borrowing rates available to the company at the respective period ends which represent level 2 measurements.
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]
The carrying value and fair value of the company’s debt obligations are as follows:
December 31, 2020December 31, 2019
CarryingFairCarryingFair
(In millions)ValueValueValueValue
Debt Obligations:
Senior notes
$21,723 $24,653 $17,736 $18,650 
Other
12 12 16 16 
$21,735 $24,665 $17,752 $18,666 
The fair value of debt obligations was determined based on quoted market prices and on borrowing rates available to the company at the respective period ends which represent level 2 measurements.