v3.20.2
Other (Income)/Deductions - Net - Intangible Assets (Details)
$ in Millions
 9 Months Ended
Sep. 27, 2020
USD ($)
Finite-Lived Intangible Assets [Line Items]  
Impairment $ 900
IPR&D [Member]  
Finite-Lived Intangible Assets [Line Items]  
Intangible assets-IPR&D 1,100 [1],[2]
Impairment 900 [1]
IPR&D [Member] | Level 1 [Member]  
Finite-Lived Intangible Assets [Line Items]  
Intangible assets-IPR&D 0 [1],[2]
IPR&D [Member] | Level 2 [Member]  
Finite-Lived Intangible Assets [Line Items]  
Intangible assets-IPR&D 0 [1],[2]
IPR&D [Member] | Level 3 [Member]  
Finite-Lived Intangible Assets [Line Items]  
Intangible assets-IPR&D $ 1,100 [1],[2]
[1] Reflects intangible assets written down to fair value in the first nine months of 2020. Fair value was determined using the income approach, specifically the multi-period excess earnings method, also known as the discounted cash flow method. We started with a forecast of all the expected net cash flows associated with the asset and then applied an asset-specific discount rate to arrive at a net present value amount. Some of the more significant estimates and assumptions inherent in this approach include: the amount and timing of the projected net cash flows, which includes the expected impact of competitive, legal and/or regulatory forces on the product; the discount rate, which seeks to reflect the various risks inherent in the projected cash flows; and the tax rate, which seeks to incorporate the geographic diversity of the projected cash flows.
[2] The fair value amount is presented as of the date of impairment, as these assets are not measured at fair value on a recurring basis.