THERMO FISHER SCIENTIFIC INC., 10-K filed on 2/24/2022
Annual Report
v3.22.0.1
Document and Entity Information - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Feb. 05, 2022
Jul. 02, 2021
Entity Listings [Line Items]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2021    
Document Transition Report false    
Entity File Number 1-8002    
Entity Registrant Name THERMO FISHER SCIENTIFIC INC.    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 04-2209186    
Entity Address, Address Line One 168 Third Avenue    
Entity Address, City or Town Waltham    
Entity Address, State or Province MA    
Entity Address, Postal Zip Code 02451    
City Area Code 781    
Local Phone Number 622-1000    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
Entity Shell Company false    
ICFR Auditor Attestation Flag true    
Entity Public Float     $ 201,672,052
Entity Common Stock, Shares Outstanding   391,191,770  
Documents Incorporated by Reference [Text Block] Sections of Thermo Fisher’s definitive Proxy Statement for the 2022 Annual Meeting of Shareholders are incorporated by reference into Parts II and III of this report.    
Entity Central Index Key 0000097745    
Amendment Flag false    
Document Fiscal Year Focus 2021    
Current Fiscal Year End Date --12-31    
Document Fiscal Period Focus FY    
Auditor Firm ID 238    
Auditor Name PricewaterhouseCoopers LLP    
Auditor Location Boston, Massachusetts    
Common Stock, $1.00 par value      
Entity Listings [Line Items]      
Title of 12(b) Security Common Stock, $1.00 par value    
Entity Stock Trading Symbol TMO    
Security Exchange Name NYSE    
0.750% Notes due 2024      
Entity Listings [Line Items]      
Title of 12(b) Security 0.750% Notes due 2024    
Entity Stock Trading Symbol TMO 24A    
Security Exchange Name NYSE    
0.125% Notes due 2025      
Entity Listings [Line Items]      
Title of 12(b) Security 0.125% Notes due 2025    
Entity Stock Trading Symbol TMO 25B    
Security Exchange Name NYSE    
2.000% Notes due 2025      
Entity Listings [Line Items]      
Title of 12(b) Security 2.000% Notes due 2025    
Entity Stock Trading Symbol TMO 25    
Security Exchange Name NYSE    
1.400% Notes due 2026      
Entity Listings [Line Items]      
Title of 12(b) Security 1.400% Notes due 2026    
Entity Stock Trading Symbol TMO 26A    
Security Exchange Name NYSE    
1.450% Notes due 2027      
Entity Listings [Line Items]      
Title of 12(b) Security 1.450% Notes due 2027    
Entity Stock Trading Symbol TMO 27    
Security Exchange Name NYSE    
1.750% Notes due 2027      
Entity Listings [Line Items]      
Title of 12(b) Security 1.750% Notes due 2027    
Entity Stock Trading Symbol TMO 27B    
Security Exchange Name NYSE    
0.500% Notes due 2028      
Entity Listings [Line Items]      
Title of 12(b) Security 0.500% Notes due 2028    
Entity Stock Trading Symbol TMO 28A    
Security Exchange Name NYSE    
1.375% Notes due 2028      
Entity Listings [Line Items]      
Title of 12(b) Security 1.375% Notes due 2028    
Entity Stock Trading Symbol TMO 28    
Security Exchange Name NYSE    
1.950% Notes due 2029      
Entity Listings [Line Items]      
Title of 12(b) Security 1.950% Notes due 2029    
Entity Stock Trading Symbol TMO 29    
Security Exchange Name NYSE    
0.875% Notes due 2031      
Entity Listings [Line Items]      
Title of 12(b) Security 0.875% Notes due 2031    
Entity Stock Trading Symbol TMO 31    
Security Exchange Name NYSE    
2.375% Notes due 2032      
Entity Listings [Line Items]      
Title of 12(b) Security 2.375% Notes due 2032    
Entity Stock Trading Symbol TMO 32    
Security Exchange Name NYSE    
2.875% Notes due 2037      
Entity Listings [Line Items]      
Title of 12(b) Security 2.875% Notes due 2037    
Entity Stock Trading Symbol TMO 37    
Security Exchange Name NYSE    
1.500% Notes due 2039      
Entity Listings [Line Items]      
Title of 12(b) Security 1.500% Notes due 2039    
Entity Stock Trading Symbol TMO 39    
Security Exchange Name NYSE    
1.875% Notes due 2049      
Entity Listings [Line Items]      
Title of 12(b) Security 1.875% Notes due 2049    
Entity Stock Trading Symbol TMO 49    
Security Exchange Name NYSE    
v3.22.0.1
Consolidated Balance Sheet - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 4,477 $ 10,325
Accounts receivable, less allowances of $150 and $135 7,977 5,741
Inventories 5,051 4,029
Contract assets, net 968 731
Other current assets 1,640 1,131
Total current assets 20,113 21,957
Property, plant and equipment, net 8,333 5,912
Acquisition-related intangible assets, net 20,113 12,685
Other assets 4,640 2,457
Goodwill 41,924 26,041
Total assets 95,123 69,052
Current liabilities:    
Short-term obligations and current maturities of long-term obligations 2,537 2,628
Accounts payable 2,867 2,175
Accrued payroll and employee benefits 2,427 1,916
Contract liabilities 2,655 1,271
Other accrued expenses 2,950 2,314
Total current liabilities 13,436 10,304
Deferred income taxes 3,837 1,794
Other long-term liabilities 4,540 3,330
Long-term obligations 32,333 19,107
Commitments and Contingencies
Redeemable noncontrolling interest 122 0
Thermo Fisher Scientific Inc. shareholders’ equity:    
Preferred stock, $100 par value, 50,000 shares authorized; none issued
Common stock, $1 par value, 1,200,000,000 shares authorized; 439,154,741 and 437,088,297 shares issued 439 437
Capital in excess of par value 16,174 15,579
Retained earnings 35,431 28,116
Treasury stock at cost, 44,720,112 and 40,417,789 shares (8,922) (6,818)
Accumulated other comprehensive items (2,329) (2,807)
Total Thermo Fisher Scientific Inc. shareholders’ equity 40,793 34,507
Noncontrolling interests 62 10
Total equity 40,855 34,517
Total liabilities, redeemable noncontrolling interest and equity $ 95,123 $ 69,052
v3.22.0.1
Consolidated Balance Sheet (Parenthetical) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Statement of Financial Position [Abstract]    
Accounts Receivable Allowances $ 150 $ 135
Preferred Stock, $100 Par Value - Par Value (in dollars per share) $ 100 $ 100
Preferred Stock, $100 Par Value - Shares Authorized (in shares) 50,000 50,000
Preferred Stock, $100 Par Value - Shares Issued (in shares) 0 0
Common Stock, $1 Par Value - Par Value (in dollars per share) $ 1 $ 1
Common Stock, $1 Par Value - Shares Authorized (in shares) 1,200,000,000 1,200,000,000
Common Stock, $1 Par Value - Shares Issued (in shares) 439,154,741 437,088,297
Treasury Stock at Cost (in shares) 44,720,112 40,417,789
v3.22.0.1
Consolidated Statement of Income - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues      
Revenues $ 39,211 $ 32,218 $ 25,542
Costs and operating expenses:      
Selling, general and administrative expenses 8,007 6,930 6,144
Research and development expenses 1,406 1,181 1,003
Restructuring and other costs (income) 197 99 (413)
Total costs and operating expenses 29,183 24,424 20,948
Operating income 10,028 7,794 4,594
Interest income 43 65 224
Interest expense (536) (553) (676)
Other income/(expense) (694) (76) (70)
Income before income taxes 8,841 7,230 4,072
Provision for income taxes (1,109) (850) (374)
Equity in (losses) earnings of unconsolidated entities (4) (3) 0
Net income 7,728 6,377 3,698
Less: net income attributable to noncontrolling interests and redeemable noncontrolling interest 3 2 2
Net income attributable to Thermo Fisher Scientific Inc. $ 7,725 $ 6,375 $ 3,696
Earnings per share attributable to Thermo Fisher Scientific Inc.      
Basic (in dollars per share) $ 19.62 $ 16.09 $ 9.24
Diluted (in dollars per share) $ 19.46 $ 15.96 $ 9.17
Weighted average shares      
Basic (in shares) 394 396 400
Diluted (in shares) 397 399 403
Product [Member]      
Revenues      
Revenues $ 30,361 $ 25,306 $ 19,496
Costs and operating expenses:      
Cost of revenues 13,594 11,407 10,037
Service [Member]      
Revenues      
Revenues 8,850 6,912 6,046
Costs and operating expenses:      
Cost of revenues $ 5,979 $ 4,807 $ 4,177
v3.22.0.1
Consolidated Statement of Comprehensive Income - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Comprehensive income      
Net income $ 7,728 $ 6,377 $ 3,698
Currency translation adjustment:      
Currency translation adjustment (net of tax provision (benefit) of $231, $(221) and $25) 373 (118) (106)
Reclassification adjustment for losses included in net income 0 0 30
Unrealized gains and losses on hedging instruments:      
Unrealized losses on hedging instruments (net of tax benefit of $0, $20 and $12) 0 (65) (38)
Reclassification adjustment for losses included in net income (net of tax benefit of $17, $14 and $6) 56 45 19
Pension and other postretirement benefit liability adjustments:      
Pension and other postretirement benefit liability adjustments arising during the period (net of tax provision (benefit) of $11, $(1) and $(31)) 36 (8) (93)
Amortization of net loss and prior service benefit included in net periodic pension cost (net of tax benefit of $6, $4 and $2) 13 18 8
Total other comprehensive items 478 (128) (180)
Comprehensive income 8,206 6,249 3,518
Less: comprehensive income attributable to noncontrolling interests and redeemable noncontrolling interest 2 2 3
Comprehensive income attributable to Thermo Fisher Scientific Inc. $ 8,204 $ 6,247 $ 3,515
v3.22.0.1
Consolidated Statement of Comprehensive Income (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Statement of Comprehensive Income [Abstract]      
Tax provision (benefit) on currency translation adjustment $ 231 $ (221) $ 25
Tax benefit on unrealized holding losses on hedging instruments arising during the period 0 20 12
Tax benefit on reclassification adjustment for losses on hedging instruments recognized in net income 17 14 6
Tax provision (benefit) on pension and other postretirement benefit liability adjustments arising during the period 11 (1) (31)
Tax benefit on amortization of net loss and prior service benefit included in net periodic pension cost $ 6 $ 4 $ 2
v3.22.0.1
Consolidated Statement of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities      
Net income $ 7,728 $ 6,377 $ 3,698
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation of property, plant and equipment 831 658 564
Amortization of acquisition-related intangible assets 1,761 1,667 1,713
Change in deferred income taxes (647) (552) (302)
Gain on sales of businesses 0 0 (482)
Stock-based compensation 230 196 181
Loss on early extinguishment of debt 767 0 184
Other non-cash expenses 190 338 82
Changes in assets and liabilities, excluding the effects of acquisitions and disposition:      
Accounts receivable (204) (1,302) (225)
Inventories (1,065) (508) (458)
Accounts payable 479 59 266
Contributions to retirement plans (34) (96) (50)
Other (724) 1,452 (198)
Net cash provided by operating activities 9,312 8,289 4,973
Investing activities      
Acquisitions, net of cash acquired (19,395) (38) (1,843)
Proceeds from sale of business, net of cash divested 0 0 1,128
Purchase of property, plant and equipment (2,523) (1,474) (926)
Proceeds from sale of property, plant and equipment 20 8 36
Other investing activities, net (34) (6) 118
Net cash used in investing activities (21,932) (1,510) (1,487)
Financing activities      
Net proceeds from issuance of debt 18,137 3,464 5,638
Repayment of debt (11,738) (710) (6,355)
Proceeds from issuance of commercial paper 2,512 383 2,781
Repayments of commercial paper 0 (387) (3,464)
Purchases of company common stock (2,000) (1,500) (1,500)
Dividends paid (395) (337) (297)
Net proceeds from issuance of company common stock under employee stock plans 156 196 153
Other financing activities, net (91) (150) (74)
Net cash provided by (used in) financing activities 6,581 959 (3,118)
Exchange rate effect on cash 194 176 (63)
(Decrease) increase in cash, cash equivalents and restricted cash (5,845) 7,914 305
Cash, cash equivalents and restricted cash at beginning of year 10,336 2,422 2,117
Cash, cash equivalents and restricted cash at end of year $ 4,491 $ 10,336 $ 2,422
v3.22.0.1
Consolidated Statement of Redeemable Noncontrolling Interest and Equity - USD ($)
shares in Millions, $ in Millions
Total
Cumulative Effect, Period of Adoption, Adjustment [Member]
Common Stock, $1.00 par value
Capital in Excess of Par Value [Member]
Retained Earnings [Member]
Retained Earnings [Member]
Cumulative Effect, Period of Adoption, Adjustment [Member]
Treasury Stock [Member]
Accumulated Other Comprehensive Items [Member]
Total Thermo Fisher Scientific Inc. Shareholders' Equity
Total Thermo Fisher Scientific Inc. Shareholders' Equity
Cumulative Effect, Period of Adoption, Adjustment [Member]
Noncontrolling Interests
Balance (in shares) at Dec. 31, 2018     432       29        
Balance at Dec. 31, 2018 $ 27,594 $ 4 $ 432 $ 14,621 $ 18,696 $ 4 $ (3,665) $ (2,498) $ 27,586 $ 4 $ 8
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Issuance of shares under employees' and directors' stock plans (in shares)     2       1        
Issuance of shares under employees' and directors' stock plans 193   $ 2 262     $ (71)   193    
Stock-based compensation 181     181         181    
Purchases of company common stock (in shares)             6        
Purchases of company common stock (1,500)           $ (1,500)   (1,500)    
Dividends declared (304)       (304)       (304)    
Net income 3,698       3,696       3,696   2
Other comprehensive items (180)             (181) (181)   1
Contributions from (distributions to) noncontrolling interests (2)                   (2)
Balance (in shares) at Dec. 31, 2019     434       36        
Balance at Dec. 31, 2019 29,684 $ (1) $ 434 15,064 22,092 $ (1) $ (5,236) (2,679) 29,675 $ (1) 9
Redeemable Noncontrolling Interest, Balance at Dec. 31, 2020 0                    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Issuance of shares under employees' and directors' stock plans (in shares)     3       0        
Issuance of shares under employees' and directors' stock plans 240   $ 3 319     $ (82)   240    
Stock-based compensation 196     196         196    
Purchases of company common stock (in shares)             4        
Purchases of company common stock (1,500)           $ (1,500)   (1,500)    
Dividends declared (350)       (350)       (350)    
Net income 6,377       6,375       6,375   2
Other comprehensive items (128)             (128) (128)    
Contributions from (distributions to) noncontrolling interests (1)                   (1)
Balance (in shares) at Dec. 31, 2020     437       40        
Balance at Dec. 31, 2020 34,517   $ 437 15,579 28,116   $ (6,818) (2,807) 34,507   10
Redeemable Noncontrolling Interest [Roll Forward]                      
Noncontrolling Interest, Increase from Business Combination 122                    
Net income (loss) attributable to redeemable noncontrolling interest 1                    
Other comprehensive items attributable to redeemable noncontrolling interest (1)                    
Redeemable Noncontrolling Interest, Balance at Dec. 31, 2021 122                    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Issuance of shares under employees' and directors' stock plans (in shares)     2       1        
Issuance of shares under employees' and directors' stock plans 222   $ 2 324     $ (104)   222    
Stock-based compensation 230     230         230    
Purchases of company common stock (in shares)             4        
Purchases of company common stock (2,000)           $ (2,000)   (2,000)    
Dividends declared (410)       (410)       (410)    
Net income 7,727       7,725       7,725   2
Other comprehensive items 478             478 478    
Contributions from (distributions to) noncontrolling interests 50                   50
Other 41     41         41    
Balance (in shares) at Dec. 31, 2021     439       45        
Balance at Dec. 31, 2021 $ 40,855   $ 439 $ 16,174 $ 35,431   $ (8,922) $ (2,329) $ 40,793   $ 62
v3.22.0.1
Consolidated Statement of Redeemable Noncontrolling Interest and Equity (Parenthetical) - $ / shares
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Statement of Stockholders' Equity [Abstract]      
Cash Dividends Declared per Common Share (in dollars per share) $ 1.04 $ 0.88 $ 0.76
v3.22.0.1
Nature of Operations and Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Nature of Operations and Summary of Significant Accounting Policies [Text Block]
Note 1.    Nature of Operations and Summary of Significant Accounting Policies
Nature of Operations
Thermo Fisher Scientific Inc. (the company or Thermo Fisher) enables customers to make the world healthier, cleaner and safer by helping them accelerate life sciences research, solve complex analytical challenges, improve patient diagnostics and therapies, and increase laboratory productivity. Markets served include pharmaceutical and biotech, academic and government, industrial and applied, as well as healthcare and diagnostics.
Principles of Consolidation
The accompanying financial statements include the accounts of the company and its wholly and majority-owned subsidiaries. All material intercompany accounts and transactions have been eliminated. The company accounts for investments in businesses using the equity method when it has the ability to exercise significant influence but not control (generally between 20% and 50% ownership), is not the primary beneficiary and has not elected the fair value option. At December 31, 2021 and 2020, the company had such investments with carrying amounts of $576 million and $32 million, respectively. The company has elected the fair value option of accounting for certain of its investments with readily determinable fair values that would otherwise be accounted for under the equity method. At December 31, 2021, the fair value of such investments was $217 million.
Redeemable Noncontrolling Interest
The company owns 60% of its consolidated subsidiary PPD-SNBL K.K. The 40% ownership interest held by a third party is classified as a redeemable noncontrolling interest on the consolidated balance sheet due to certain put options under which the third party may require the company to purchase the remaining ownership interest at its pre-acquisition fair value.
Presentation
Certain reclassifications of prior year amounts have been made to conform to the current year presentation.
Revenue Recognition
Consumables revenues consist of single-use products and are recognized at a point in time following the transfer of control of such products to the customer, which generally occurs upon shipment. Instruments revenues typically consist of longer-lived assets that, for the substantial majority of sales, are recognized at a point in time in a manner similar to consumables. Service revenues (primarily clinical research, pharmaceutical, and instrument and enterprise services) are recognized over time as customers receive and consume the benefits of such services. For revenues recognized over time, the company generally uses costs accumulated relative to total estimated costs to measure progress as this method approximates satisfaction of the performance obligation. For contracts that contain multiple performance obligations, the company allocates the consideration to which it expects to be entitled (i.e., the transaction price) to each performance obligation based on relative standalone selling prices and recognizes the related revenues when or as control of each individual performance obligation is transferred to customers. The company exercises judgment in determining the timing of revenue by analyzing the point in time or the period over which the customer has the ability to direct the use of and obtain substantially all of the remaining benefits of the asset. The company immediately expenses contract costs that would otherwise be capitalized and amortized over a period of less than one year.
Changes to the scope of services contracts generally also include changes in the transaction price. Typically, these contract modifications are not distinct from existing services provided under the contract, and result in cumulative adjustments to revenue on the modification date.
Payments from customers for most instruments and consumables are typically due in a fixed number of days after shipment or delivery of the product. Service arrangements commonly call for payments in advance of performing the work (e.g., extended service contracts), upon completion of the service (e.g., pharmaceutical services) or a mix of both. Some arrangements include variable amounts of consideration that arise from discounts, rebates, and other programs and practices. In such arrangements, the company estimates the amount by which to reduce the stated contract amount to reflect the transaction price. The company records reimbursement for third-party pass-through and out-of-pocket costs as revenues and the related expenses as costs of revenues.
Contract-related Balances
Accounts receivable include unconditional rights to consideration from customers, which generally represent billings that do not bear interest. The company maintains allowances for doubtful accounts for estimates of expected losses resulting from
the inability of its customers to pay amounts due. The allowance for doubtful accounts is the company’s best estimate of the amount of probable credit losses in existing accounts receivable. The company determines the allowance based on history of similarly aged receivables, the creditworthiness of the customer, reasons for delinquency, current economic conditions, expectations associated with future events and circumstances where reasonable and supportable forecasts are available and any other information that is relevant to the judgment. Receivables from academic and government customers as well as large, well-capitalized commercial customers have historically experienced less collectability risk. Account balances are charged off against the allowance when the company believes it is probable the receivable will not be recovered. The company does not have any off-balance-sheet credit exposure related to customers.
Contract assets include revenues recognized in advance of billings where the company’s right to bill includes something other than the passage of time. Such amounts are recorded net of estimated losses resulting from the inability to invoice customers, which is primarily due to risk associated with the company’s performance. Contract assets are classified as current or noncurrent based on the amount of time expected to lapse until the company's right to consideration becomes unconditional.
Contract liabilities include billings in excess of revenues recognized, such as those resulting from customer advances and deposits and unearned revenues on service contracts. Contract liabilities are classified as current or noncurrent based on the periods over which remaining performance obligations are expected to be transferred to customers. Contract assets and liabilities are presented on a net basis in the consolidated balance sheet if they arise from different performance obligations in the same contract.
Warranty Obligations
The company provides for the estimated cost of standard product warranties, primarily from historical information, in cost of product revenues at the time product revenues are recognized. The liability for warranties is included in other accrued expenses in the accompanying balance sheet. Extended warranty agreements are considered service contracts, which are discussed above. Costs of service contracts are recognized as incurred.
Leases
Operating leases that have commenced are included in other assets, other accrued expenses and other long-term liabilities in the consolidated balance sheet. Finance leases that have commenced are included in property, plant and equipment, net, current maturities of long-term obligations and long-term obligations in the consolidated balance sheet. Classification of lease liabilities as either current or noncurrent is based on the expected timing of payments due under the company’s obligations.
Right-of-use (ROU) assets represent the company’s right to use an underlying asset for the lease term and lease liabilities represent the company’s obligation to make lease payments arising from the lease. Lease ROU assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. Leases with an initial term of 12 months or less are not recorded on the consolidated balance sheet. The company recognizes operating lease expense on a straight-line basis over the lease term. Finance lease expense includes depreciation, which is recognized on a straight-line basis over the expected life of the leased asset, and an immaterial amount of interest expense.
Because most of the company’s leases do not provide an implicit interest rate, the company estimates incremental borrowing rates based on the information available at the commencement date in determining the present value of lease payments. The company uses the implicit rate when readily determinable. Lease terms include the effect of options to extend or terminate the lease when it is reasonably certain that the company will exercise that option. Operating lease expense is recognized on a straight-line basis over the lease term.
As a lessee, the company accounts for the lease and non-lease components as a single lease component.
Research and Development
The company conducts research and development activities to increase its depth of capabilities in technologies, software and services. Research and development costs include employee compensation and benefits, consultants, facilities related costs, material costs, depreciation and travel. Research and development costs are expensed as incurred.
Restructuring Costs
Accounting for the timing and amount of termination benefits provided by the company to employees is determined based on whether: (a) the company has a substantive plan to provide such benefits, (b) the company has a written employment contract with the affected employees that includes a provision for such benefits, (c) the termination benefits are due to the occurrence of an event specified in an existing plan or agreement, or (d) the termination benefits are a one-time benefit. In certain circumstances, employee termination benefits may meet more than one of the characteristics listed above and therefore, may have individual elements that are subject to different accounting models.
From time to time when executing a restructuring or exit plan, the company also incurs costs other than termination benefits, such as lease termination costs, that are not associated with or will not be incurred to generate revenues. These include costs that represent amounts under contractual obligations that exist prior to the restructuring plan communication date and will either continue after the restructuring plan is completed with no economic benefit or result in a penalty to cancel a contractual obligation. Such costs are recognized when incurred, which generally occurs at the contract termination or over the period from when a plan to abandon a leased facility is approved through the cease-use date but charges may continue over the remainder of the original contractual period.
Income Taxes
The company recognizes deferred income taxes based on the expected future tax consequences of differences between the financial statement basis and the tax basis of assets and liabilities, calculated using enacted tax rates in effect for the year in which the differences are expected to be reflected in the tax return. A valuation allowance is provided for tax assets that will more likely than not go unused.
The financial statements reflect expected future tax consequences of uncertain tax positions that the company has taken or expects to take on a tax return presuming the taxing authorities’ full knowledge of the positions and all relevant facts, but without discounting for the time value of money.
Earnings per Share
Basic earnings per share has been computed by dividing net income attributable to Thermo Fisher Scientific Inc. by the weighted average number of shares outstanding during the year. Except where the result would be antidilutive to net income attributable to Thermo Fisher Scientific Inc., diluted earnings per share has been computed using the treasury stock method for outstanding stock options and restricted units.
Cash and Cash Equivalents
Cash equivalents consists principally of money market funds, commercial paper and other marketable securities purchased with an original maturity of three months or less. These investments are carried at cost, which approximates market value.
Inventories
Inventories are valued at the lower of cost or net realizable value, cost being determined by the first-in, first-out (FIFO) method. As discussed below, prior to the third quarter of 2021 certain of the company's businesses utilized the last-in, first-out (LIFO) method. The company periodically reviews quantities of inventories on hand and compares these amounts to the expected use of each product or product line. In addition, the company has certain inventory that is subject to fluctuating market pricing. The company records a charge to cost of sales for the amount required to reduce the carrying value of inventory to net realizable value. Costs associated with the procurement of inventories, such as inbound freight charges, purchasing and receiving costs, and internal transfer costs, are included in cost of revenues in the accompanying statement of income. The components of inventories are as follows:
December 31,December 31,
(In millions)20212020
Raw materials$1,922 $1,305 
Work in process676 540 
Finished goods2,453 2,184 
Inventories$5,051 $4,029 
Prior to the third quarter of 2021, certain of the company’s businesses utilized the LIFO method of accounting for inventories. During the third quarter of 2021, these businesses, which comprised approximately 5% of consolidated inventories, changed from the LIFO method to the FIFO method. The company believes this change is preferable as it will provide a consistent, uniform costing method for all inventories across the company, better reflect the current value of inventories, and improve comparability with peers. Prior financial statements have not been retrospectively adjusted due to immateriality. The cumulative pre-tax effect of this change in accounting principle of $33 million was recorded as an increase to inventories and a decrease to cost of product revenues in the third quarter of 2021. This change was recorded in the Laboratory Products and Biopharma Services ($20 million) and Specialty Diagnostics ($13 million) segments.
The value of inventories maintained using the LIFO method was $274 million at December 31, 2020, which was below estimated replacement cost by $49 million. Reductions to cost of revenues as a result of the liquidation of LIFO inventories were nominal during 2019, 2020 and the first half of 2021.
Property, Plant and Equipment
Property, plant and equipment are recorded at cost. The costs of additions and improvements are capitalized, while maintenance and repairs are charged to expense as incurred. The company generally provides for depreciation and amortization using the straight-line method over the estimated useful lives of the property as follows: buildings and improvements, 25 to 40 years; machinery and equipment (including software), 3 to 10 years; and leasehold improvements, the shorter of the term of the lease or the life of the asset. When assets are retired or otherwise disposed of, the assets and related accumulated depreciation are eliminated from the accounts and the resulting gain or loss is reflected in the accompanying statement of income. Property, plant and equipment consists of the following:
December 31,December 31,
(In millions)20212020
Land$431 $410 
Buildings and improvements2,575 2,192 
Machinery, equipment and leasehold improvements9,587 6,975 
Property, plant and equipment, at cost12,593 9,577 
Less: Accumulated depreciation and amortization4,260 3,665 
Property, plant and equipment, net$8,333 $5,912 
Acquisition-related Intangible Assets
Acquisition-related intangible assets include the costs of acquired customer relationships, product technology, tradenames, backlog and other specifically identifiable intangible assets, and are being amortized using the straight-line method over their estimated useful lives, which range up to 20 years. The company reviews these intangible assets for impairment when indication of potential impairment exists, such as a significant reduction in cash flows associated with the assets. When impairment indicators exist, the company determines whether the carrying value of its intangible assets exceeds the related undiscounted cash flows. In these situations, the carrying value is written down to fair value.
In addition, the company has tradenames and in-process research and development that have indefinite lives and which are not amortized. Intangible assets with indefinite lives are reviewed for impairment annually or whenever events or changes in circumstances indicate they may be impaired. The company may perform an optional qualitative assessment. If the company determines that the fair value of the indefinite-lived intangible asset is more likely than not greater than its carrying amount, no additional testing is necessary. If not, or if the company bypasses the optional qualitative assessment, it writes the carrying value down to the fair value, if applicable.
Acquisition-related intangible assets are as follows:
Balance at December 31, 2021Balance at December 31, 2020
(In millions)GrossAccumulated AmortizationNetGrossAccumulated AmortizationNet
Definite lived:
Customer relationships
$22,802 $(7,792)$15,010 $16,593 $(7,450)$9,143 
Product technology
6,041 (3,977)2,064 5,523 (3,532)1,991 
Tradenames
1,722 (919)803 1,213 (897)316 
Backlog
1,060 (59)1,001 — — — 
31,625 (12,747)18,878 23,329 (11,879)11,450 
Indefinite lived:
Tradenames
1,235 N/A1,235 1,235 N/A1,235 
Acquisition-related intangible assets
$32,860 $(12,747)$20,113 $24,564 $(11,879)$12,685 
The estimated future amortization expense of acquisition-related intangible assets with definite lives is as follows:
(In millions)
2022 $2,489 
2023 2,358 
2024 1,992 
2025 1,669 
2026 1,392 
2027 and thereafter8,978 
Estimated future amortization expense of definite-lived intangible assets$18,878 
Other Assets
Other assets in the accompanying balance sheet include operating lease right-of-use assets, investments, deferred tax assets, pension assets, cash surrender value of life insurance, insurance recovery receivables related to product liability matters, certain intangible assets and other assets.
At December 31, 2021 and 2020, the company had $33 million and $43 million, respectively, of intangible assets not derived from acquisitions, net of accumulated amortization, which are being amortized using the straight-line method over their estimated useful lives, which range up to 20 years.
Equity investments that do not have readily determinable fair values and are not eligible for the net asset value (NAV) practical expedient are measured at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investments of the same issuer. The company performs qualitative assessments to identify impairments of these investments. At December 31, 2021 and 2020, the company had such investments with carrying amounts of $22 million and $28 million, respectively, and investments measured at NAV of $16 million and $0 million, respectively, which are included in other assets.
Goodwill
The company assesses goodwill for impairment at the reporting unit level annually and whenever events occur or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. Such events or circumstances generally include the occurrence of operating losses or a significant decline in earnings associated with one or more of the company’s reporting units. The company is permitted to first assess qualitative factors to determine whether the quantitative goodwill impairment test is necessary. If the qualitative assessment results in a determination that the fair value of a reporting unit is more likely than not less than its carrying amount, the company performs a quantitative goodwill impairment test. The company may bypass the qualitative assessment for the reporting unit in any period and proceed directly to the goodwill impairment test. The company estimates the fair value of its reporting units by using forecasts of discounted future cash flows and peer market multiples. The company would record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value (limited to the amount of goodwill). The company determined that no impairments existed in 2021, 2020 or 2019.
The changes in the carrying amount of goodwill by segment are as follows:
(In millions)Life Sciences
Solutions		Analytical
Instruments		Specialty
Diagnostics		Laboratory
Products and
Biopharma Services		Total
Balance at December 31, 2019
$8,544 $4,928 $3,184 $9,058 $25,714 
Acquisition
35 — — — 35 
Currency translation
11 151 186 (56)292 
Balance at December 31, 2020
8,590 5,079 3,370 9,002 26,041 
Acquisitions
1,560 56 8 14,400 16,024 
Currency translation
(7)(92)(101)59 (141)
Balance at December 31, 2021
$10,143 $5,043 $3,277 $23,461 $41,924 
Loss Contingencies
Accruals are recorded for various contingencies, including legal proceedings, environmental, workers’ compensation, product, general and auto liabilities, self-insurance and other claims that arise in the normal course of business. The accruals are based on management’s judgment, historical claims experience, the probability of losses and, where applicable, the consideration of opinions of internal and/or external legal counsel and actuarial estimates. Additionally, the company records receivables from third-party insurers up to the amount of the loss when recovery has been determined to be probable. Certain liabilities acquired in acquisitions have been recorded at readily determinable fair values and, as such, were discounted to present value at the dates of acquisition.
Currency Translation
All assets and liabilities of the company’s subsidiaries operating in non-U.S. dollar currencies are translated at period-end exchange rates. Resulting translation adjustments are reflected in the “accumulated other comprehensive items” component of shareholders’ equity. Revenues and expenses are translated at average exchange rates for the period. Currency transaction gains are included in the accompanying statement of income and in aggregate were $25 million, $24 million and $52 million in 2021, 2020 and 2019, respectively.
Derivative Contracts
The company is exposed to certain risks relating to its ongoing business operations including changes to interest rates and currency exchange rates. The company uses derivative instruments primarily to manage currency exchange and interest rate risks. The company recognizes derivative instruments as either assets or liabilities and measures those instruments at fair value. If a derivative is a hedge, depending on the nature of the hedge, changes in the fair value of the derivative are either offset against the change in fair value of the hedged item through earnings or recognized in other comprehensive items until the hedged item is recognized in earnings. Derivatives that are not designated as hedges are recorded at fair value through earnings.
The company uses short-term forward and option currency exchange contracts primarily to hedge certain balance sheet and operational exposures resulting from changes in currency exchange rates, predominantly intercompany loans and cash balances that are denominated in currencies other than the functional currencies of the respective operations. The currency-exchange contracts principally hedge transactions denominated in euro, Swiss franc, British pounds sterling, Canadian dollars, Czech koruna, Japanese yen and Hong Kong dollars. The company does not hold or engage in transactions involving derivative instruments for purposes other than risk management.
Cash flow hedges. For derivative instruments that are designated and qualify as a cash flow hedge, the gain or loss on the derivative is reported as a component of other comprehensive items and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings and is presented in the same income statement line item as the earnings effect of the hedged item.
Fair value hedges. For derivative instruments that are designated and qualify as a fair value hedge, the gain or loss on the derivative, as well as the offsetting loss or gain on the hedged item attributable to the hedged risk, are recognized in earnings.
Net investment hedges. The company uses foreign currency-denominated debt and cross-currency interest rate swaps to partially hedge its net investments in foreign operations against adverse movements in exchange rates. A portion of the company’s euro-denominated senior notes and its cross-currency interest rate swaps have been designated as, and are effective as, economic hedges of part of the net investment in a foreign operation. Accordingly, foreign currency transaction gains or losses due to spot rate fluctuations on the euro-denominated debt instruments and contract fair value changes on the cross-currency interest rate swaps, excluding interest accruals, are included in currency translation adjustment within other comprehensive items and shareholders’ equity.
Use of Estimates
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.
The company’s estimates include, among others, asset reserve requirements as well as the amounts of future cash flows associated with certain assets and businesses that are used in assessing the risk of impairment. Risks and uncertainties associated with the ongoing COVID-19 global pandemic materially adversely affected certain of the company’s businesses in 2020, particularly in the Analytical Instruments segment and, to a lesser extent, some businesses within the other three segments. The negative impacts significantly lessened in 2021. The extent and duration of negative impacts in the future, which
may include inflationary pressures and supply chain disruptions, are uncertain and may require changes to estimates. Actual results could differ from those estimates.
Recent Accounting Pronouncements
In November 2021, the FASB issued new guidance to require entities to disclose information about certain types of government assistance they receive, including cash grants and tax credits. Among other things, the new guidance requires expanded disclosure regarding the qualitative and quantitative characteristics of the nature, amount, timing, and significant terms and conditions of transactions with a government arising from a grant or other forms of assistance accounted for under a contribution model. The company will adopt this guidance in 2022 using a prospective method. The adoption of this guidance is not expected to have a material impact on the company’s disclosures; however, the impact will be dependent on the extent of transactions of this nature entered into by the company in periods subsequent to the date of adoption.
In October 2021, the FASB amended guidance to recognize and measure contract assets and contract liabilities acquired in a business combination. Generally, this new guidance will result in the company recognizing contract assets and contract liabilities at the same amounts recorded by the acquiree. The company adopted this guidance in the fourth quarter of 2021 retrospectively to all business combinations completed in the first three quarters of 2021 and prospectively to all future business combinations. The adoption of this guidance did not have a material impact on the company’s consolidated financial statements for acquisitions that closed in 2021; however, the impact in future periods will be dependent on the contract assets and contract liabilities acquired in future business combinations.
In July 2021, the FASB amended guidance to require lessors to classify leases as operating leases if they have certain variable lease payment structures and would have selling losses if they were classified as sales-type or direct financing leases. The company adopted the guidance in the third quarter of 2021 using a prospective method. The adoption of this guidance did not have a material impact on the company’s consolidated financial statements.
In January 2020, the FASB issued new guidance to clarify the interaction of the accounting for certain equity securities, equity method investments, and certain forward contracts and purchased options. Among other things, the new guidance clarifies that an entity should consider observable transactions that require it to either apply or discontinue the equity method of accounting for the purposes of applying measurement principles for certain equity securities immediately before applying or discontinuing the equity method. The company adopted this guidance in 2020 using a prospective method. The adoption of this guidance did not have a material impact on the company’s consolidated financial statements.
In December 2019, the FASB issued new guidance to simplify the accounting for income taxes. Among other things, the new guidance requires the effects of enacted changes in tax laws or rates to be reflected in the annual effective tax rate computation in the interim period that includes the enactment date. The company adopted this guidance in 2021 using a prospective method. The adoption of this guidance did not have a material impact on the company’s consolidated financial statements; however, the impact in future periods will be dependent on the extent of future events or conditions that would be affected such as enacted changes in tax laws or rates.
In August 2018, the FASB issued new guidance to modify the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The company adopted the guidance in 2020 using a retrospective method. The adoption of this guidance did not have a material impact on the company’s disclosures.
In August 2018, the FASB issued new guidance to modify the disclosure requirements on fair value measurements. The company adopted the guidance in 2020 with some items requiring a prospective method and others requiring a retrospective method. The adoption of this guidance did not have a material impact on the company’s disclosures.
In June 2016, the FASB issued new guidance to require a financial asset measured at amortized cost basis, such as accounts receivable, to be presented at the net amount expected to be collected based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. During 2018 and 2019, the FASB issued additional guidance and clarification. The company adopted the guidance in 2020 using a modified retrospective method. The adoption of this guidance reduced accounts receivable and retained earnings by $1 million on January 1, 2020.
In February 2016, the FASB issued new guidance which requires lessees to record most leases on their balance sheets as lease liabilities, initially measured at the present value of the future lease payments, with corresponding right-of-use assets. The new guidance also sets forth new disclosure requirements related to leases. During 2017 - 2019, the FASB issued additional guidance and clarification. The company adopted this guidance in January 2019. The company elected to adopt the guidance using a modified retrospective method, by applying the transition approach as of the beginning of the period of adoption. Comparative periods have not been restated. As permitted upon transition, the company did not reassess whether any expired or
existing contracts were or contained embedded leases, the lease classification for any expired or existing leases, initial direct costs for any leases, or whether land easements met the definition of a lease if they were not accounted for as leases under the prior guidance. The adoption of this guidance increased retained earnings by $4 million on January 1, 2019.
v3.22.0.1
Acquisitions and Dispositions
 12 Months Ended
Dec. 31, 2021
Business Combinations [Abstract]  
Acquisitions and Dispositions [Text Block]
Note 2.    Acquisitions and Disposition
The company’s acquisitions have historically been made at prices above the determined fair value of the acquired identifiable net assets, resulting in goodwill, primarily due to expectations of the synergies that will be realized by combining the businesses and the benefits that will be gained from the assembled workforce. These synergies include the elimination of redundant facilities, functions and staffing; use of the company’s existing commercial infrastructure to expand sales of the acquired businesses’ products; and use of the commercial infrastructure of the acquired businesses to cost-effectively expand sales of company products.
Acquisitions have been accounted for using the acquisition method of accounting, and the acquired companies’ results have been included in the accompanying financial statements from their respective dates of acquisition. Acquisition transaction costs are recorded in selling, general and administrative expenses as incurred.
2021
On January 15, 2021, the company acquired, within the Laboratory Products and Biopharma Services segment, the Belgium-based European viral vector manufacturing business of Groupe Novasep SAS for $830 million in net cash consideration. The European viral vector manufacturing business provides manufacturing services for vaccines and therapies to biotechnology companies and large biopharma customers. The acquisition expands the segment’s capabilities for cell and gene vaccines and therapies. The goodwill recorded as a result of this business combination is not tax deductible.
On February 25, 2021, the company acquired, within the Life Sciences Solutions segment, Mesa Biotech, Inc., a U.S.-based molecular diagnostic company, for $407 million in net cash consideration and contingent consideration with an initial fair value of $65 million due upon the completion of certain milestones. Mesa Biotech has developed and commercialized a polymerase chain reaction (PCR) based rapid point-of-care testing platform available for detecting infectious diseases including COVID-19. The acquisition enables the company to accelerate the availability of reliable and accurate advanced molecular diagnostics at the point of care. The goodwill recorded as a result of this business combination is not tax deductible.
On September 30, 2021, the company assumed operating responsibility, within the Laboratory Products and Biopharma Services segment, of a new state-of-the-art biologics manufacturing facility in Lengnau, Switzerland from CSL Limited to perform pharma services for CSL with capacity to serve other customers as well. The company expects to make fixed lease payments aggregating to $555 million (excluding renewals) from 2021 to 2041, with additional amounts dependent on the extent of revenues from customers of the facility other than CSL. The goodwill recorded as a result of this business combination is not tax deductible.
On December 8, 2021, the company acquired, within the Laboratory Products and Biopharma Services segment, PPD, Inc., a U.S.-based global provider of clinical research services to the pharma and biotech industry, for $15.99 billion in net cash consideration and $43 million of equity awards exchanged. The addition of PPD’s clinical research services enhances our offering to biotech and pharma customers by enabling them to accelerate innovation and increase their productivity within the drug development process. The goodwill recorded as a result of this business combination is not tax deductible.
On December 30, 2021, the company acquired, within the Life Sciences Solutions segment, PeproTech, Inc., a U.S. based developer and manufacturer of recombinant proteins, for $1.86 billion in net cash consideration. PeproTech provides bioscience reagents known as recombinant proteins, including cytokines and growth factors. The acquisition expands the segment’s bioscience offerings. The goodwill recorded as a result of this business combination is not tax deductible.
In addition, in 2021, the company acquired, within the Life Sciences Solutions segment, cell sorting technology assets, an Ireland-based life sciences distributor and a developer of a digital PCR platform; within the Analytical Instruments segment, a Belgium-based developer of micro-chip based technology for liquid chromatography columns; and within the Specialty Diagnostics segment, a transplant diagnostics information system provider.
The components of the purchase price and net assets acquired for 2021 acquisitions are as follows:
(In millions)PPDPeproTechEuropean Viral Vector BusinessMesa BiotechLengnau biologics manufacturing facilityOther
Purchase price
Cash paid
$17,237 $1,947 $848 $421 $17 $298 
Fair value of equity awards exchanged
43 — — — — — 
Fair value of contingent consideration
— — — 65 1 117 
Cash acquired
(1,244)(83)(18)(14)— (13)
$16,036 $1,864 $830 $472 $18 $402 
Net assets acquired
Current assets
$2,510 $63 $39 $54 $— $12 
Property, plant and equipment
562 18 59 2 92 2 
Definite-lived intangible assets:
Customer relationships
6,264 514 302 — — 2 
Product technology
— 282 25 279 — 224 
Tradenames
603 — — 2 — 2 
Backlog1,060 — — — — — 
Goodwill
13,781 1,190 600 237 18 198 
Other assets
1,108 11 3 3 376 2 
Contract liabilities(1,570)— (59)— — (1)
Deferred tax assets (liabilities)
(1,803)(193)(80)(72)— (28)
Finance lease liabilities
(86)— (24)— (82)— 
Debt assumed
(4,299)— — — — — 
Other liabilities assumed
(1,972)(21)(35)(33)(386)(11)
Redeemable noncontrolling interest(122)— — — — — 
$16,036 $1,864 $830 $472 $18 $402 
The weighted-average amortization periods for definite-lived intangible assets acquired in 2021 are 17 years for customer relationships, 11 years for product technology, 7 years for tradenames and 3 years for backlog. The weighted average amortization period for all definite-lived intangible assets acquired in 2021 is 14 years.
The preliminary allocations of the purchase price for the acquisitions of the Lengnau biologics manufacturing facility, PPD and PeproTech were based on estimates of the fair value of the net assets acquired and are subject to adjustment upon finalization, largely with respect to acquired intangible assets, lease assets and liabilities, and the related deferred taxes. Measurements of these items inherently require significant estimates and assumptions.
Unaudited Pro Forma Information
The following unaudited pro forma information provides the effect of the company's 2021 acquisition of PPD as if the acquisition had occurred on January 1, 2020:
 Year Ended
 December 31,December 31,
(In millions)20212020
Revenues$44,886 $36,887 
Net income attributable to Thermo Fisher Scientific Inc.$7,369 $5,361 
The historical consolidated financial information of the company and PPD has been adjusted in the pro forma information to give effect to pro forma events that are directly attributable to the acquisitions and related financing arrangements and are factually supportable.
To reflect the acquisition of PPD as if it had occurred on January 1, 2020, the unaudited pro forma results include adjustments to reflect, among other things, the incremental intangible asset amortization to be incurred based on the preliminary values of each identifiable intangible asset and the interest expense from debt financings obtained to partially fund the cash consideration transferred. Pro forma adjustments were tax effected at the company's historical statutory rates in effect for the respective periods. The unaudited pro forma amounts are not necessarily indicative of the combined results of operations that would have been realized had the acquisitions and related financings occurred on the aforementioned dates, nor are they meant to be indicative of any anticipated combined results of operations that the company will experience after the transaction. In addition, the amounts do not include any adjustments for actions that may be taken following the completion of the transaction, such as expected cost savings, operating synergies, or revenue enhancements that may be realized subsequent to the transaction.
Pro forma net income attributable to Thermo Fisher Scientific Inc. for the year ended December 31, 2021, excludes $312 million of transaction costs, initial restructuring costs, and debt extinguishment costs directly attributable to the PPD acquisition that were included in the determination of net income attributable to Thermo Fisher Scientific Inc. for that period. These items have reduced pro forma net income attributable to Thermo Fisher Scientific Inc. for the year ended December 31, 2020, by $197 million.
The company’s results would not have been materially different from its pro forma results had the company’s other 2021 acquisitions occurred at the beginning of 2020.
PPD’s revenues and losses attributable to Thermo Fisher Scientific Inc. in 2021, subsequent to the acquisition date, were $378 million and $(60) million, respectively. The loss includes non-recurring transaction and compensation costs.
2020
In 2020, the company acquired, within the Life Sciences Solutions segment, a U.S.-based provider of a spectral dye platform for high-resolution biology applications which will extend the company’s existing tools for protein and cell analysis applications, for a total purchase price of $63 million including the fair value of contingent consideration.
2019
On April 30, 2019, the company acquired, within the Laboratory Products and Biopharma Services segment, Brammer Bio for approximately $1.67 billion in cash. Brammer Bio is a leading viral vector contract development and manufacturing organization for gene and cell therapies. The acquisition expanded the segment’s contract manufacturing capabilities. The purchase price exceeded the fair value of the identifiable net assets and, accordingly, $938 million was allocated to goodwill, $405 million of which is tax deductible.
In addition, in 2019 the company acquired, within the Analytical Instruments segment, a Slovakia-based provider of mass spectrometry software used for identification of compounds, and, within the Laboratory Products and Biopharma Services segment, an active pharmaceutical ingredient manufacturing facility in Cork, Ireland, for an aggregate purchase price of $169 million.
The components of the purchase price and net assets acquired for 2019 acquisitions are as follows:
(In millions)Brammer BioOther
Purchase price
Cash paid
$1,710 $169 
Cash acquired
(36)— 
$1,674 $169 
Net assets acquired
Current assets
$52 $58 
Property, plant and equipment
147 102 
Definite-lived intangible assets:
Customer relationships
744 — 
Product technology
65 7 
Tradenames
7 — 
Goodwill
938 9 
Other assets
49 — 
Contract liabilities(110)— 
Deferred tax liabilities
(110)(6)
Other liabilities assumed
(108)(1)
$1,674 $169 
The weighted-average amortization periods for definite-lived intangible assets acquired in 2019 are 14 years for customer relationships, 13 years for product technology and 2 years for tradenames. The weighted average amortization period for all definite-lived intangible assets acquired in 2019 is 14 years.
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, of the business sold were approximately $115 million, net of retained sales through the company's healthcare market and research and safety market channels.
v3.22.0.1
Revenue and Contract-related Balances
 12 Months Ended
Dec. 31, 2021
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer [Text Block]
Note 3.    Revenues and Contract-related Balances
Disaggregated Revenues
Revenues by type are as follows:
(In millions)202120202019
Revenues
Consumables
$22,608 $18,527 $13,109 
Instruments
7,753 6,779 6,387 
Services
8,850 6,912 6,046 
Consolidated revenues
$39,211 $32,218 $25,542 
Revenues by geographic region based on customer location are as follows:
(In millions)202120202019
Revenues
North America
$19,659 $17,081 $12,896 
Europe
11,134 8,284 6,358 
Asia-Pacific
7,218 5,822 5,524 
Other regions
1,200 1,031 764 
Consolidated revenues
$39,211 $32,218 $25,542 
Each reportable segment earns revenues from consumables, instruments and services in North America, Europe, Asia-Pacific and other regions. See Note 4 for revenues by reportable segment and other geographic data.
Remaining Performance Obligations
The aggregate amount of the transaction price allocated to the remaining performance obligations for all open customer contracts as of December 31, 2021 was $28.30 billion. The company will recognize revenues for these performance obligations as they are satisfied, approximately 59% of which is expected to occur within the next twelve months. Amounts expected to occur thereafter generally relate to contract manufacturing, clinical research and extended warranty service agreements, which typically have durations of three to five years.
Contract-related Balances
Noncurrent contract assets are included within other assets in the accompanying balance sheet. Noncurrent contract liabilities are included within other long-term liabilities in the accompanying balance sheet. Contract asset and liability balances are as follows:
December 31,December 31,
(In millions)20212020
Current contract assets, net$968 $731 
Noncurrent contract assets, net9 11 
Current contract liabilities2,655 1,271 
Noncurrent contract liabilities1,238 763 
Substantially all of the current contract liabilities balance at December 31, 2020 and 2019 was recognized in revenues during 2021 and 2020, respectively.
v3.22.0.1
Business Segment and Geographical Information
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Business Segment and Geographical Information [Text Block]
Note 4.    Business Segment and Geographical Information
The company’s financial performance is reported in four segments. A description of each segment follows.
Life Sciences Solutions: provides an extensive portfolio of reagents, instruments and consumables used in biological and medical research, discovery and production of new drugs and vaccines as well as diagnosis of disease (including COVID-19 through its polymerase chain reaction (PCR) testing and sample preparation capabilities). These products and services are used by customers in pharmaceutical, biotechnology, agricultural, clinical, academic, and government markets.
Analytical Instruments: provides a broad offering of instruments, consumables, software and services that are used for a range of applications in the laboratory, on the production line and in the field. These products and services are used by customers in pharmaceutical, biotechnology, academic, government, environmental and other research and industrial markets, as well as the clinical laboratory.
Specialty Diagnostics: provides a wide range of diagnostic test kits, reagents, culture media, instruments and associated products used to increase the speed and accuracy of diagnoses. These products are used by customers in healthcare, clinical, pharmaceutical, industrial and food safety laboratories.
Laboratory Products and Biopharma Services (formerly known as Laboratory Products and Services): provides virtually everything needed for the laboratory, including a combination of self-manufactured and sourced products for customers in research, academic, government, industrial and healthcare settings. The segment also includes a comprehensive offering of
outsourced services used by the pharmaceutical and biotech industries for drug development, clinical trials logistics, clinical research services and commercial drug manufacturing.
The company’s management evaluates segment operating performance based on operating income before certain charges/credits to cost of revenues and selling, general and administrative expenses, principally associated with acquisition accounting; restructuring and other costs/income including costs arising from facility consolidations such as severance and abandoned lease expense and gains and losses from the sale of real estate and product lines as well as from significant litigation-related matters; and amortization of acquisition-related intangible assets. The company uses this measure because it helps management understand and evaluate the segments’ core operating results and facilitates comparison of performance for determining compensation.
Business Segment Information
(In millions)202120202019
Revenues
Life Sciences Solutions
$15,631 $12,168 $6,856 
Analytical Instruments
6,069 5,124 5,522 
Specialty Diagnostics
5,659 5,343 3,718 
Laboratory Products and Biopharma Services
14,862 12,245 10,599 
Eliminations
(3,010)(2,662)(1,153)
Consolidated revenues
39,211 32,218 25,542 
Segment Income
Life Sciences Solutions
7,817 6,109 2,446 
Analytical Instruments
1,197 808 1,273 
Specialty Diagnostics
1,280 1,368 930 
Laboratory Products and Biopharma Services
1,844 1,271 1,324 
Subtotal reportable segments
12,138 9,556 5,973 
Cost of revenues charges
(8)(6)(17)
Selling, general and administrative (charges) credits
(144)10 (62)
Restructuring and other (costs) income
(197)(99)413 
Amortization of acquisition-related intangible assets
(1,761)(1,667)(1,713)
Consolidated operating income
10,028 7,794 4,594 
Interest income43 65 224 
Interest expense(536)(553)(676)
Other income/(expense)
(694)(76)(70)
Income before income taxes
$8,841 $7,230 $4,072 
Depreciation
Life Sciences Solutions
$197 $140 $130 
Analytical Instruments
83 76 75 
Specialty Diagnostics
128 100 67 
Laboratory Products and Biopharma Services
423 342 292 
Consolidated depreciation
$831 $658 $564 
Cost of revenues charges included in the above table consist of charges for the sale of inventories revalued at the date of acquisition and accelerated depreciation on fixed assets to estimated disposal value in connection with the consolidation of operations. Selling, general and administrative charges/credits included in the above table consist of third-party transaction/integration costs (including reimbursement thereof) related to recent/terminated acquisitions, charges/credits for changes in estimates of contingent acquisition consideration, and charges/credits related to product liability litigation.
(In millions)202120202019
Total assets
Life Sciences Solutions
$22,751 $20,209 $18,306 
Analytical Instruments
9,692 9,773 9,896 
Specialty Diagnostics
6,010 6,534 5,867 
Laboratory Products and Biopharma Services
52,639 22,711 21,761 
Corporate/other (a)
4,031 9,825 2,551 
Consolidated total assets
$95,123 $69,052 $58,381 
Capital expenditures
Life Sciences Solutions
$810 $392 $151 
Analytical Instruments
79 74 64 
Specialty Diagnostics
167 175 83 
Laboratory Products and Biopharma Services
1,327 772 554 
Corporate/other
140 61 74 
Consolidated capital expenditures
$2,523 $1,474 $926 
(a)Corporate assets consist primarily of cash and cash equivalents and property and equipment at the company's corporate offices.
Geographical Information
(In millions)202120202019
Revenues (b)
United States
$18,907 $16,435 $12,366 
China
3,444 2,797 2,752 
Other
16,860 12,986 10,424 
Consolidated revenues
$39,211 $32,218 $25,542 
Long-lived Assets (c)
United States
$5,578 $3,686 $3,099 
Other
4,286 3,001 2,349 
Consolidated long-lived assets
$9,864 $6,687 $5,448 
(b)Revenues are attributed to countries based on customer location.
(c)Includes property, plant and equipment, net, and operating lease ROU assets.
v3.22.0.1
Other Expense, Net
 12 Months Ended
Dec. 31, 2021
Other Income and Expenses [Abstract]  
Other Expense, Net [Text Block]
Note 5.    Other Income/(Expense)
In all periods, other income/(expense) includes currency transaction gains and losses on non-operating monetary assets and liabilities and net periodic pension benefit cost/income, excluding the service cost component which is included in operating expenses on the accompanying statement of income. In 2021, other income/(expense) includes $767 million of losses on the early extinguishment of debt (Note 10), $36 million of financing costs associated with obtaining bridge financing commitments in connection with the agreement to acquire PPD (Note 2), offset in part by $66 million of net gains on investments. The company had a cash outlay of $36 million in 2021 associated with obtaining the bridge financing commitments, included in other financing activities, net, in the accompanying statement of cash flows.
In 2020, other income/(expense) includes $81 million of financing costs for a terminated acquisition, primarily for loan commitment fees and entering into hedging contracts and $42 million reclassified from accumulated other comprehensive items related to a hedge arrangement (Note 14), offset in part by $10 million of net gains on investments. The company had a cash outlay of $51 million in 2020 associated with obtaining the loan commitments included in other financing activities, net, in the accompanying statement of cash flows.
In 2019, other income/(expense) includes $184 million of losses on the early extinguishment of debt (Note 10), offset in part by $44 million of net gains on investments. The investment gains include a $28 million gain on the sale of a joint venture for net proceeds of $42 million.
v3.22.0.1
Stock-based Compensation Expense
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Stock-based Compensation Expense [Text Block]
Note 6.    Stock-based Compensation Expense
The company has stock-based compensation plans for its key employees, directors and others. These plans permit the grant of a variety of stock and stock-based awards, including restricted stock units, stock options or performance-based shares, as determined by the compensation committee of the company’s Board of Directors or, for certain non-officer grants, by the company’s employee equity committee, which consists of its chief executive officer. The company generally issues new shares of its common stock to satisfy option exercises and restricted unit vesting. Grants of stock options and restricted units generally provide that in the event of both a change in control of the company and a qualifying termination of an option or unit holder’s employment, all options and service-based restricted unit awards held by the recipient become immediately vested (unless an employment or other agreement with the employee provides for different treatment).
Compensation cost is based on the grant-date fair value and is recognized ratably over the requisite vesting period or to the date based on qualifying retirement eligibility, if earlier, and is primarily included in selling, general and administrative expenses.
Stock Options
The company’s practice is to grant stock options at fair market value. Options vest over 3-5 years with terms of 7-10 years, assuming continued employment with certain exceptions. Vesting of the option awards is contingent upon meeting certain service conditions. The fair value of most option grants is estimated using the Black-Scholes option pricing model. For option grants that require the achievement of both service and market conditions, a lattice model is used to estimate fair value. The fair value is then amortized on a straight-line basis over the requisite service periods of the awards, which is generally the vesting period. Use of a valuation model requires management to make certain assumptions with respect to selected model inputs. Expected volatility was calculated based on the historical volatility of the company’s stock. Historical data on exercise patterns is the basis for estimating the expected life of an option. The risk-free interest rate is based on U.S. Treasury zero-coupon issues with a remaining term which approximates the expected life assumed at the date of grant. The expected annual dividend rate was calculated by dividing the company’s annual dividend, based on the most recent quarterly dividend rate, by the closing stock price on the grant date. The compensation expense recognized for all stock-based awards is net of estimated forfeitures. Forfeitures are estimated based on an analysis of actual option forfeitures.
The weighted average assumptions used in the Black-Scholes option pricing model are as follows: 
202120202019
Expected stock price volatility
26 %22 %21 %
Risk free interest rate
0.8 %1.1 %2.4 %
Expected life of options (years)
4.34.34.3
Expected annual dividend
0.2 %0.3 %0.3 %
The weighted average per share grant-date fair values of options granted during 2021, 2020 and 2019 were $123.97, $61.19 and $53.37, respectively. The total intrinsic value of options exercised during the same periods was $501 million, $457 million and $320 million, respectively. The intrinsic value is the difference between the market value of the shares on the exercise date and the exercise price of the option.
A summary of the company’s option activity for the year ended December 31, 2021 is presented below:
Shares
(in millions)		Weighted average exercise priceWeighted average remaining contractual term
(in years)		Aggregate intrinsic
value
(in millions)
Outstanding at December 31, 2020
5.9 $221.22 
Granted
1.5 552.26 
Issued in connection with an acquisition
0.2 492.35 
Exercised
(1.4)183.63 
Canceled/expired
(0.2)341.83 
Outstanding at December 31, 2021
6.0 $319.95 4.5$2,094 
Vested and unvested expected to vest at December 31, 2021
5.7 $306.64 4.3$2,035 
Exercisable at December 31, 2021
2.8 $193.39 2.9$1,307 
As of December 31, 2021, there was $243 million of total unrecognized compensation cost related to unvested stock options granted. The cost is expected to be recognized through 2025 with a weighted average amortization period of 2.9 years.
Restricted Share/Unit Awards
Awards of restricted units convert into an equivalent number of shares of common stock. The awards generally vest over 3-4 years, assuming continued employment, with some exceptions. Vesting of the awards is contingent upon meeting certain service conditions and may also be contingent upon meeting certain performance and/or market conditions. The fair market value of the award at the time of the grant is amortized to expense over the requisite service period of the award, which is generally the vesting period. Recipients of restricted units have no voting rights but are entitled to accrue dividend equivalents. The fair value of service- and performance-based restricted unit awards is determined based on the number of units granted and the market value of the company’s shares on the grant date. For awards with market-based vesting conditions, the company uses a lattice model to estimate the grant-date fair value of the award.
A summary of the company’s restricted unit activity for the year ended December 31, 2021 is presented below:
 Units
(in millions)		Weighted
average
grant-date
fair value
Unvested at December 31, 2020
0.8 $276.74 
Granted
0.4 444.61 
Issued in connection with an acquisition
0.2 628.71 
Vested
(0.5)295.70 
Forfeited
(0.1)326.90 
Unvested at December 31, 2021
0.8 $425.39 
The total fair value of shares vested during 2021, 2020 and 2019 was $151 million, $126 million and $118 million, respectively.
As of December 31, 2021, there was $250 million of total unrecognized compensation cost related to unvested restricted stock unit awards. The cost is expected to be recognized through 2025 with a weighted average amortization period of 2.1 years.
Employee Stock Purchase Plans
Qualifying employees are eligible to participate in an employee stock purchase plan sponsored by the company. Shares may be purchased under the program at 95% of the fair market value at the end of the purchase period and the shares purchased are not subject to a holding period. Shares are purchased through payroll deductions of up to 10% of each participating employee’s qualifying gross wages. The company issued 0.1 million, 0.1 million and 0.2 million shares, respectively, of its common stock in 2021, 2020 and 2019 under the employee stock purchase plan.
v3.22.0.1
Pension and Other Postretirement Benefit Plans
 12 Months Ended
Dec. 31, 2021
Retirement Benefits [Abstract]  
Pension and Other Postretirement Benefit Plans [Text Block]
Note 7.    Pension and Other Postretirement Benefit Plans
401(k) Savings Plan and Other Defined Contribution Plans
The company’s 401(k) savings and other defined contribution plans cover the majority of the company’s eligible U.S. and certain non-U.S. employees. Contributions to the plans are made by both the employee and the company. Company contributions are based on the level of employee contributions. Company contributions to these plans are based on formulas determined by the company. In 2021, 2020 and 2019, the company charged to expense $299 million, $254 million and $232 million, respectively, related to its defined contribution plans.
Defined Benefit Pension Plans
Employees of a number of the company’s non-U.S. and certain U.S. subsidiaries participate in defined benefit pension plans covering substantially all full-time employees at those subsidiaries. Some of the plans are unfunded, as permitted under the plans and applicable laws. The company also maintains postretirement healthcare programs at several acquired businesses where certain employees are eligible to participate. The liabilities and costs associated with the company’s postretirement healthcare programs are generally funded on a self-insured and insured-premium basis and are not material for any period presented.
The company recognizes the funded status of defined benefit pension and other postretirement benefit plans as an asset or liability. This amount is defined as the difference between the fair value of plan assets and the benefit obligation. The company is required to recognize as a component of other comprehensive items, net of tax, the actuarial gains/losses and prior service costs/credits that arise but were not previously required to be recognized as components of net periodic benefit cost. Other comprehensive items is adjusted as these amounts are later recognized in income as components of net periodic benefit cost.
When a company with a pension plan is acquired, any excess of projected benefit obligation over the plan assets is recognized as a liability and any excess of plan assets over the projected benefit obligation is recognized as an asset. The recognition of a new liability or a new asset results in the elimination of (a) previously existing unrecognized net gain or loss and (b) unrecognized prior service cost or credits.
The company funds annually, at a minimum, the statutorily required minimum amount as actuarially determined. During 2021, 2020 and 2019, the company made cash contributions of approximately $34 million, $96 million and $50 million, respectively. Contributions to the plans included in the following table are estimated at between $40 and $60 million for 2022.
The following table provides a reconciliation of benefit obligations and plan assets of the company’s domestic and non-U.S. pension plans:
 Domestic pension
 benefits		Non-U.S. pension
 benefits
(In millions)2021202020212020
Change in projected benefit obligations
Benefit obligation at beginning of year
$1,302 $1,302 $1,486 $1,303 
Acquisitions
— — 170 — 
Service costs
— — 27 24 
Interest costs
23 35 11 18 
Settlements
— — (7)(38)
Plan participants' contributions
— — 6 5 
Actuarial (gains) losses
20 44 (57)119 
Benefits paid
(85)(79)(30)(26)
Currency translation and other
— — (54)81 
Benefit obligation at end of year
$1,260 $1,302 $1,552 $1,486 
Change in fair value of plan assets
Fair value of plan assets at beginning of year
$1,267 $1,201 $1,160 $986 
Acquisitions— — 158 — 
Actual return on plan assets
37 138 14 92 
Employer contribution
7 7 27 87 
Settlements
— — (7)(38)
Plan participants' contributions
— — 6 5 
Benefits paid
(85)(79)(30)(26)
Currency translation and other
— — (26)54 
Fair value of plan assets at end of year$1,226 $1,267 $1,302 $1,160 
Funded status
$(34)$(35)$(250)$(326)
Accumulated benefit obligation
$1,260 $1,302 $1,475 $1,417 
Amounts recognized in balance sheet
Noncurrent assets
$32 $38 $205 $157 
Current liability
(7)(8)(10)(9)
Noncurrent liabilities
(59)(65)(445)(474)
Net amount recognized
$(34)$(35)$(250)$(326)
Amounts recognized in accumulated other comprehensive items
Net actuarial loss
$157 $142 $167 $242 
Prior service credits
— — (3)(2)
Net amount recognized
$157 $142 $164 $240 
For domestic pension plans, actuarial losses experienced in 2021 were driven by differences between actual and expected returns on plan assets for certain portions of plan benefits indexed to asset returns, which were partially offset by actuarial gains due to increases in the weighted average discount rates used to determine the projected benefit obligation differences. For non-U.S. pension plans, actuarial gains experienced in 2021 were principally driven by increases in the weighted average discount rates used to determine the projected benefit obligation.
For both domestic and non-U.S. pension plans, actuarial losses experienced in 2020 were principally driven by decreases in the weighted average discount rates used to determine the projected benefit obligation. For domestic pension plans, the 2020 actuarial losses were partially offset by gains recognized due to the adoption of an updated mortality assumption.
The actuarial assumptions used to compute the funded status for the plans are based upon information available as of December 31, 2021 and 2020 and are as follows:
 Domestic pension
 benefits		Non-U.S. pension
 benefits
 2021202020212020
Weighted average assumptions used to determine projected benefit obligations
Discount rate for determining benefit obligation
2.70 %2.33 %1.45 %0.95 %
Interest crediting rate for cash balance plans
2.58 %2.16 %1.25 %1.25 %
Average rate of increase in employee compensation
N/AN/A2.73 %2.30 %
The actuarial assumptions used to compute the net periodic pension benefit cost (income) are based upon information available as of the beginning of the year, as presented in the following table:
 Domestic pension benefitsNon-U.S. pension benefits
 202120202019202120202019
Weighted average assumptions used to determine net benefit cost (income)
Discount rate - service cost
N/AN/AN/A0.65 %1.21 %1.97 %
Discount rate - interest cost
2.33 %3.13 %4.22 %0.80 %1.44 %2.06 %
Average rate of increase in employee compensation
N/AN/AN/A2.30 %2.27 %2.47 %
Expected long-term rate of return on assets
4.25 %5.00 %5.76 %2.02 %2.33 %3.25 %
The discount rate reflects the rate the company would have to pay to purchase high-quality investments that would provide cash sufficient to settle its current pension obligations. The discount rate is determined based on a range of factors, including the rates of return on high-quality, fixed-income corporate bonds and the related expected duration of the obligations or, in certain instances, the company has used a hypothetical portfolio of high quality instruments with maturities that mirror the benefit obligation in order to accurately estimate the discount rate relevant to a particular plan.
The company utilizes a full yield curve approach in the estimation of these components by applying the specific spot-rates along the yield curve used in the determination of the benefit obligation to the relevant projected cash flows.
The expected long-term rate of return on plan assets reflects the average rate of earnings expected on the funds invested, or to be invested, to provide for the benefits included in the projected benefit obligations. In determining the expected long-term rate of return on plan assets, the company considers the relative weighting of plan assets, the historical performance of total plan assets and individual asset classes and economic and other indicators of future performance. In addition, the company may consult with and consider the opinions of financial and other professionals in developing appropriate return benchmarks.
Asset management objectives include maintaining an adequate level of diversification to reduce interest rate and market risk and providing adequate liquidity to meet immediate and future benefit payment requirements.
The expected rate of compensation increase reflects the long-term average rate of salary increases and is based on historic salary increase experience and management’s expectations of future salary increases.
The projected benefit obligation and fair value of plan assets for the company’s qualified and non-qualified pension plans with projected benefit obligations in excess of plan assets are as follows:
 Pension plans
(In millions)20212020
Pension plans with projected benefit obligations in excess of plan assets
Projected benefit obligation
$2,010 $2,047 
Fair value of plan assets
1,521 1,529 
The accumulated benefit obligation and fair value of plan assets for the company's qualified and non-qualified pension plans with accumulated benefit obligations in excess of plan assets are as follows:
 Pension plans
(In millions)20212020
Pension plans with accumulated benefit obligations in excess of plan assets
Accumulated benefit obligation
$1,937 $1,976 
Fair value of plan assets
1,521 1,526 
The measurement date used to determine benefit information is December 31 for all plan assets and benefit obligations.
The net periodic pension benefit cost (income) includes the following components:
 Domestic pension benefitsNon-U.S. pension benefits
(In millions)202120202019202120202019
Components of net benefit cost (income)
Service cost
$— $— $— $27 $24 $23 
Interest cost on benefit obligation
23 35 45 11 18 24 
Expected return on plan assets
(40)(47)(55)(19)(19)(30)
Amortization of actuarial net loss
7 6 2 12 10 6 
Amortization of prior service benefit
— — — — (1)(1)
Settlement/curtailment loss
— — — — 8 4 
Net periodic benefit cost (income)
$(10)$(6)$(8)$31 $40 $26 
Expected benefit payments are estimated using the same assumptions used in determining the company’s benefit obligation at December 31, 2021. Benefit payments will depend on future employment and compensation levels, average years employed and average life spans, among other factors, and changes in any of these factors could significantly affect these estimated future benefit payments. Estimated future benefit payments during the next five years and in the aggregate for the five fiscal years thereafter, are as follows:
(In millions)Domestic
pension
benefits		Non-U.S.
pension
benefits
Expected benefit payments
2022 $93 $45 
2023 89 45 
2024 88 49 
2025 86 52 
2026 84 56 
2027-2031368 307 
Domestic Pension Plan Assets
The company’s overall objective is to manage the assets in a liability framework where investments are selected that are expected to have similar changes in fair value as the related liabilities will have upon changes in interest rates. The company invests in a portfolio of both return-seeking and liability-hedging assets, primarily through the use of institutional collective funds, to achieve long-term growth and to insulate the funded position from interest rate volatility. The strategic asset allocation uses a combination of risk controlled and index strategies in fixed income and global equities. The target allocations for the investments are approximately 10% to funds investing in U.S. equities, approximately 10% to funds investing in international equities and approximately 80% to funds investing in fixed income securities. The portfolio maintains enough liquidity at all times to meet the near-term benefit payments.
Non-U.S. Pension Plan Assets
The company maintains specific plan assets for many of the individual pension plans outside the U.S. The investment strategy of each plan has been uniquely established based on the country specific standards and characteristics of the plans. Several of the plans have contracts with insurance companies whereby the market risks of the benefit obligations are borne by the insurance companies. When assets are held directly in investments, generally the objective is to invest in a portfolio of
diversified assets with a variety of fund managers. The investments may include equity funds, fixed income funds, hedge funds, multi-asset funds, alternative investments and derivative funds with the target asset allocations ranging from approximately 0% - 25% for equity funds, 40% - 90% for fixed income funds, 0% - 35% for multi-asset funds, and 0% - 30% for funds holding derivatives. The derivatives held by the funds are primarily interest rate swaps intended to match the movements in the plan liabilities. Each plan maintains enough liquidity at all times to meet the near-term benefit payments.
The fair values of the company’s plan assets at December 31, 2021 and 2020, by asset category are as follows:
 December 31,Quoted
prices in
active
markets		Significant
other
observable
inputs		Significant
unobservable
inputs		Not subject to leveling (a)
(In millions)2021(Level 1)(Level 2)(Level 3)
Domestic pension plan assets
U.S. equity funds
$124 $— $— $— $124 
International equity funds
117 — — — 117 
Fixed income funds
966 — — — 966 
Money market funds
19 — — — 19 
Total domestic pension plans
$1,226 $— $— $— $1,226 
Non-U.S. pension plan assets
Equity funds
$17 $— $— $— $17 
Fixed income funds
651 — — — 651 
Hedge funds
3 — — — 3 
Multi-asset funds
73 — — — 73 
Derivative funds
253 — — — 253 
Alternative investments
1 — — — 1 
Insurance contracts
295 — 295 — — 
Cash / money market funds
9 5 — — 4 
Total non-U.S. pension plans
$1,302 $5 $295 $— $1,002 
(a) Investments measured at the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.
 December 31,Quoted
prices in
active
markets		Significant
other
observable
inputs		Significant
unobservable
inputs		Not subject to leveling (a)
(In millions)2020(Level 1)(Level 2)(Level 3)
Domestic pension plan assets
U.S. equity funds
$125 $— $— $— $125 
International equity funds
126 — — — 126 
Fixed income funds
1,001 — — — 1,001 
Money market funds
15 — — — 15 
Total domestic pension plans$1,267 $— $— $— $1,267 
Non-U.S. pension plan assets
Equity funds
$74 $— $— $— $74 
Fixed income funds
510 — — — 510 
Hedge funds
59 — — — 59 
Multi-asset funds
45 — — — 45 
Derivative funds
149 — — — 149 
Alternative investments
6 — — — 6 
Insurance contracts
262 — 262 — — 
Cash / money market funds
55 7 — — 48 
Total non-U.S. pension plans$1,160 $7 $262 $— $891 
(a) Investments measured at the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.
The tables above present the fair value of the company’s plan assets in accordance with the fair value hierarchy (Note 14). Certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value hierarchy. The fair value amounts of these investments presented in the above tables are intended to permit reconciliation of the fair value hierarchy to the amounts presented for the total pension plan assets. These investments were also redeemable at the balance sheet date or within limited time restrictions.
v3.22.0.1
Income Taxes
 12 Months Ended
Dec. 31, 2021
Income Tax Disclosure [Abstract]  
Income Taxes [Text Block]
Note 8.    Income Taxes
The components of income before provision for income taxes are as follows:
(In millions)202120202019
U.S.$3,340 $4,762 $2,280 
Non-U.S.5,501 2,468 1,792 
Income before income taxes
$8,841 $7,230 $4,072 
The components of the provision for income taxes are as follows:
(In millions)202120202019
Current income tax provision
Federal$446 $521 $267 
Non-U.S.1,148 423 544 
State160 175 62 
1,754 1,119 873 
Deferred income tax provision (benefit)
Federal$(227)$(237)$(222)
Non-U.S.(399)(18)(252)
State(19)(14)(25)
 (645)(269)(499)
Provision for income taxes
$1,109 $850 $374 
The provision for income taxes in the accompanying statement of income differs from the provision calculated by applying the statutory federal income tax rate to income before income taxes due to the following:
(In millions)202120202019
Statutory federal income tax rate
21 %21 %21 %
Provision for income taxes at statutory rate
$1,857 $1,518 $855 
Increases (decreases) resulting from:
Foreign rate differential
(255)(223)(204)
Income tax credits
(315)(335)(213)
Global intangible low-taxed income
76 86 92 
Foreign-derived intangible income
(119)(156)(111)
Excess tax benefits from stock options and restricted stock units
(124)(114)(80)
Provision for (reversal of) tax reserves, net
(17)(26)62 
Intra-entity transfers
(284)— (79)
Foreign exchange loss on inter-company debt refinancing
— (47)(62)
Domestication transaction— (263)— 
Valuation allowance
36 379 (4)
Withholding taxes
164 115 38 
Basis difference on disposal of business
— — 73 
Tax return reassessments and settlements
1 (196)(6)
State income taxes, net of federal tax82 147 22 
Other, net
7 (35)(9)
Provision for income taxes
$1,109 $850 $374 
The company has operations and a taxable presence in approximately 50 countries outside the U.S. The company's effective income tax rate differs from the U.S. federal statutory rate each year due to certain operations that are subject to tax incentives, state and local taxes, and foreign taxes that are different than the U.S. federal statutory rate.
During 2021, the company recorded a $188 million income tax benefit related to the deferred tax implications of an intra-entity transfer of assets. Also in 2021, the company recorded a $96 million income tax benefit related to a capital loss resulting from certain intra-entity transactions.
During 2020, the company settled an IRS audit relating to the 2014, 2015, and 2016 tax years. The company recorded a $25 million net tax benefit primarily from this settlement and related impacts, which resulted in a decrease in the company’s unrecognized tax benefits of $378 million, of which $144 million was reclassified to income taxes payable. The company recorded $53 million of charges for expired tax credits and other related components of the settlement. The company recorded a charge of $156 million to establish a valuation allowance against certain U.S. foreign tax credits which the company believes will more likely than not expire unutilized.
In 2020, the company recorded a $263 million income tax benefit related to a domestication transaction involving the transfer of certain non-U.S. subsidiaries to the U.S., including interest expense of those subsidiaries. The company also recorded a valuation allowance of $212 million against the amount of interest expense that the company believes will more likely than not go unused. Also in 2020, the company recorded a $47 million income tax benefit, including both U.S. federal and state taxes, related to a foreign exchange loss for tax purposes on certain intercompany financing arrangements.
In 2019, the company recorded a $62 million income tax benefit, including both U.S. federal and state taxes, related to a foreign exchange loss for tax purposes on certain intercompany financing arrangements as well as a tax provision of $191 million related to the gain on the sale of the Anatomical Pathology business. Also in 2019, the company recorded a $79 million benefit related to the deferred tax implications of intra-entity transactions which included a tax benefit to release a valuation allowance against net operating losses previously determined to be unrealizable.
The foreign tax credits discussed below are the result of foreign earnings and profits remitted or deemed remitted to the U.S. during the reporting year and the U.S. treatment of taxes paid in the foreign jurisdictions in the years those profits were originally earned.
In 2020, the company implemented foreign tax credit planning in Sweden which resulted in $96 million of foreign tax credits, with no related incremental U.S. income tax expense.
In 2019, the company implemented foreign tax credit planning in Sweden which resulted in $75 million of foreign tax credits, with no related incremental U.S. income tax expense.
The company generally receives a tax deduction upon the exercise of non-qualified stock options by employees, or the vesting of restricted stock units held by employees, for the difference between the exercise price and the market price of the underlying common stock on the date of exercise. The company uses the incremental tax benefit approach for utilization of tax attributes. These excess tax benefits reduce the tax provision. In 2021, 2020 and 2019, the company's tax provision was reduced by $124 million, $114 million and $80 million, respectively, of such benefits.
Net deferred tax asset (liability) in the accompanying balance sheet consists of the following:
(In millions)20212020
Deferred tax asset (liability)
Depreciation and amortization
$(4,687)$(2,962)
Net operating loss and credit carryforwards
1,652 1,668 
Reserves and accruals
162 164 
Accrued compensation
318 253 
Inventory basis difference
181 112 
Deferred interest295 227 
Unrealized (gains) losses on hedging instruments
(33)242 
Other, net
251 124 
Deferred tax liabilities, net before valuation allowance
(1,861)(172)
Less: Valuation allowance
968 933 
Deferred tax liabilities, net
$(2,829)$(1,105)
The company estimates the degree to which tax assets and loss and credit carryforwards will result in a benefit based on expected profitability by tax jurisdiction and provides a valuation allowance for tax assets and loss and credit carryforwards that it believes will more likely than not expire unutilized. At December 31, 2021, all of the company’s valuation allowance relates to deferred tax assets, primarily net operating losses and disallowed interest expense carryforward, for which any subsequently recognized tax benefits will reduce income tax expense.
The changes in the valuation allowance are as follows:
 Year Ended December 31,
(In millions)202120202019
Beginning balance
$933 $408 $471 
Additions (reductions) charged to income tax provision, net
24 514 (27)
Additions due to acquisitions
30 — — 
Reduction due to a divestiture
— — (33)
Currency translation and other
(19)11 (3)
Ending balance$968 $933 $408 
At December 31, 2021, the company had net federal, state and non-U.S. net operating loss carryforwards of $72 million, $88 million and $1.18 billion, respectively. Use of the carryforwards is limited based on the future income of certain subsidiaries. The federal and state net operating loss carryforwards expire in the years 2022 through 2041. Of the net non-U.S. net operating loss carryforwards, $419 million expire in the years 2025 through 2041, and the remainder do not expire.
At December 31, 2021, the company had foreign tax credit carryforwards of $610 million and deferred interest carryforwards of $295 million. The foreign tax credit carryforwards will expire in the years 2022 through 2030 while deferred interest carryforwards do not expire.
U.S. federal taxes have been recorded on $24 billion of undistributed foreign earnings as of December 31, 2021. A provision has not been made for certain U.S. state income taxes or additional non-U.S. taxes that would be due when cash is repatriated to the U.S. as the company’s undistributed foreign earnings are intended to be reinvested outside of the U.S. indefinitely. The determination of the amount of the unrecognized deferred tax liability related to the undistributed foreign earnings is not practicable due to the uncertainty in the manner in which these earnings will be distributed. The company’s intent is to only make distributions from non-U.S. subsidiaries in the future when they can be made at no net tax cost.
Unrecognized Tax Benefits
As of December 31, 2021, the company had $1.12 billion of unrecognized tax benefits substantially all of which, if recognized, would reduce the effective tax rate.
A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows:
(In millions)202120202019
Beginning balance
$1,091 $1,552 $1,442 
Additions due to acquisitions
26 — — 
Additions for tax positions of current year
32 8 53 
Additions for tax positions of prior years
60 — 69 
Reductions for tax positions of prior years
(5)(296)(7)
Closure of tax years
(27)— — 
Settlements
(53)(173)(5)
Ending balance
$1,124 $1,091 $1,552 
Substantially all of the unrecognized tax benefits are classified as long-term liabilities. The company does not expect its unrecognized tax benefits to change significantly over the next twelve months.
During 2021, the company’s unrecognized tax benefits increased by $80 million as a result of uncertain tax positions relating to foreign tax positions and decreased $75 million relating to U.S. federal and state tax positions. The company also assumed $26 million of uncertain tax benefits as part of the acquisition of PPD.
During 2020, the company’s unrecognized tax benefits decreased $51 million as a result of uncertain tax positions relating to foreign tax positions and $410 million relating to U.S. federal and state tax positions which included $378 million from the settlement of the IRS audit of the 2014, 2015 and 2016 tax years.
During 2019, the company’s unrecognized tax benefits increased $70 million as a result of uncertain tax positions relating to foreign tax positions and $45 million relating to U.S. federal and state tax positions.
The company classified interest and penalties related to unrecognized tax benefits as income tax expense. The total amount of interest and penalties related to uncertain tax positions and recognized in the balance sheet as of December 31, 2021 and 2020 was $59 million and $78 million, respectively.
The company conducts business globally and, as a result, Thermo Fisher or one or more of its subsidiaries files income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. In the normal course of business, the company is subject to examination by taxing authorities throughout the world, including such major jurisdictions as Australia, Canada, China, Denmark, Finland, France, Germany, Japan, Singapore, Sweden, the United Kingdom and the United States. With few exceptions, the company is no longer subject to U.S. state and local or non-U.S. income tax examinations for years before 2012 and no longer subject to U.S. federal income tax examinations for years before 2017.
v3.22.0.1
Earnings Per Share
 12 Months Ended
Dec. 31, 2021
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
Note 9.    Earnings per Share
(In millions except per share amounts)202120202019
Net income attributable to Thermo Fisher Scientific Inc.
$7,725 $6,375 $3,696 
Basic weighted average shares
394 396 400 
Plus effect of: stock options and restricted stock units
3 3 3 
Diluted weighted average shares
397 399 403 
Basic earnings per share
$19.62 $16.09 $9.24 
Diluted earnings per share
$19.46 $15.96 $9.17 
Antidilutive stock options excluded from diluted weighted average shares
1 1 1 
v3.22.0.1
Debt and Other Financing Arrangements
 12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Debt and Other Financing Arrangements [Text Block]
Note 10.    Debt and Other Financing Arrangements
Effective interest rate at December 31,December 31,December 31,
(Dollars in millions)202120212020
Commercial Paper0.01 %$2,522 $— 
2.15% 7-Year Senior Notes, Due 7/21/2022 (euro-denominated)
— 611 
3.00% 7-Year Senior Notes, Due 4/15/2023
— 1,000 
Floating Rate (SOFR + 0.35%) 1.5-Year Senior Notes, Due 4/18/2023
1,000 — 
Floating Rate (SOFR + 0.39%) 2-Year Senior Notes, Due 10/18/2023
500 — 
0.797% 2-Year Senior Notes, Due 10/18/2023
1.03 %1,350 — 
Floating Rate (EURIBOR + 0.20%) 2-Year Senior Notes Due 11/18/2023 (euro-denominated)
0.00 %1,933 — 
0.000% 2-Year Senior Notes Due 11/18/2023 (euro-denominated)
0.06 %625 — 
4.15% 10-Year Senior Notes, Due 2/1/2024
— 1,000 
0.75% 8-Year Senior Notes, Due 9/12/2024 (euro-denominated)
0.94 %1,137 1,222 
1.215% 3-Year Senior Notes, Due 10/18/2024
1.42 %2,500 — 
Floating Rate (SOFR + 0.53%) 3-Year Senior Notes, Due 10/18/2024
500 — 
0.125% 5.5-Year Senior Notes, Due 3/1/2025 (euro-denominated)
0.41 %910 977 
4.133% 5-Year Senior Notes, Due 3/25/2025
— 1,100 
2.00% 10-Year Senior Notes, Due 4/15/2025 (euro-denominated)
2.10 %728 782 
0.000% 4-Year Senior Notes Due 11/18/2025 (euro-denominated)
0.16 %625 — 
3.65% 10-Year Senior Notes, Due 12/15/2025
3.77 %350 350 
1.40% 8.5-Year Senior Notes, Due 1/23/2026 (euro-denominated)
1.53 %796 855 
2.95% 10-Year Senior Notes, Due 9/19/2026
— 1,200 
Effective interest rate at December 31,December 31,December 31,
(Dollars in millions)202120212020
1.45% 10-Year Senior Notes, Due 3/16/2027 (euro-denominated)
1.66 %568 611 
1.75% 7-Year Senior Notes, Due 4/15/2027 (euro-denominated)
1.97 %682 733 
3.20% 10-Year Senior Notes, Due 8/15/2027
— 750 
0.50% 8.5-Year Senior Notes, Due 3/1/2028 (euro-denominated)
0.77 %910 977 
1.375% 12-Year Senior Notes, Due 9/12/2028 (euro-denominated)
1.46 %682 733 
1.750% 7-Year Senior Notes, Due 10/15/2028
1.89 %700 — 
1.95% 12-Year Senior Notes, Due 7/24/2029 (euro-denominated)
2.08 %796 855 
2.60% 10-Year Senior Notes, Due 10/1/2029
2.74 %900 900 
4.497% 10-Year Senior Notes, Due 3/25/2030
— 1,100 
0.80% 9-Year Senior Notes, Due 10/18/2030 (euro-denominated)
0.89 %1,990 — 
0.875% 12-Year Senior Notes, Due 10/1/2031 (euro-denominated)
1.13 %1,023 1,099 
2.00% 10-Year Senior Notes, Due 10/15/2031
2.23 %1,200 — 
2.375% 12-Year Senior Notes, Due 4/15/2032 (euro-denominated)
2.55 %682 733 
1.125% 12-Year Senior Notes, Due 10/18/2033 (euro-denominated)
1.21 %1,706 — 
2.875% 20-Year Senior Notes, Due 7/24/2037 (euro-denominated)
2.94 %796 855 
1.50% 20-Year Senior Notes, Due 10/1/2039 (euro-denominated)
1.73 %1,023 1,099 
2.80% 20-Year Senior Notes, Due 10/15/2041
2.90 %1,200 — 
1.625% 20-Year Senior Notes, Due 10/18/2041 (euro-denominated)
1.78 %1,421 — 
5.30% 30-Year Senior Notes, Due 2/1/2044
5.37 %400 400 
4.10% 30-Year Senior Notes, Due 8/15/2047
4.23 %750 750 
1.875% 30-Year Senior Notes, Due 10/1/2049 (euro-denominated)
1.98 %1,137 1,222 
2.00% 30-Year Senior Notes, Due 10/18/2051 (euro-denominated)
2.07 %853 — 
Other 76 5 
Total borrowings at par value
34,971 21,919 
Fair value hedge accounting adjustments
— 25 
Unamortized discount
(117)(102)
Unamortized debt issuance costs
(184)(114)
Total borrowings at carrying value
34,670 21,728 
Finance lease liabilities
200 7 
Less: Short-term obligations and current maturities
2,537 2,628 
Long-term obligations$32,333 $19,107 
SOFR - Secured Overnight Financing Rate
EURIBOR - Euro Interbank Offered Rate
The effective interest rates for the fixed-rate debt include the stated interest on the notes, the accretion of any discount and the amortization of any debt issuance costs.
See Note 14 for fair value information pertaining to the company’s long-term borrowings.
As of December 31, 2021, the annual repayment requirements for debt obligations are as follows:
(In millions)BorrowingsFinance Lease Liabilities
2022 $2,522 $15 
2023 5,396 12 
2024 4,138 12 
2025 2,610 12 
2026 797 12 
2027 and thereafter19,508 137 
$34,971 $200 
In addition to available borrowings under the company’s revolving credit agreements, discussed below, the company had unused lines of credit of $78 million as of December 31, 2021. These unused lines of credit generally provide for short-term unsecured borrowings at various interest rates.
Credit Facilities
On January 7, 2022, the company entered into a new revolving credit facility (the Facility) with a bank group that provides for up to $5.00 billion of unsecured multi-currency revolving credit The Facility replaces the company’s $3.00 billion credit facility which was in place at December 31, 2021 (the prior credit facility). The Facility expires on January 7, 2027. The revolving credit agreement calls for interest at either a Term SOFR, a EURIBOR-based rate (for funds drawn in euro) or a rate based on the prime lending rate of the agent bank, at the company’s option. The agreement contains affirmative, negative and financial covenants, and events of default customary for facilities of this type. The covenants in the Facility include a Consolidated Net Interest Coverage Ratio (Consolidated EBITDA to Consolidated Net Interest Expense), as such terms are defined in the Facility. Specifically, the company has agreed that, so long as any lender has any commitment under the Facility, any letter of credit is outstanding under the Facility, or any loan or other obligation is outstanding under the Facility, it will maintain a minimum Consolidated Interest Coverage Ratio of 3.5:1.0 as of the last day of any fiscal quarter. As of December 31, 2021, no borrowings were outstanding under the prior credit facility, although available capacity was reduced by approximately $4 million as a result of outstanding letters of credit.
Commercial Paper Programs
The company has commercial paper programs pursuant to which it may issue and sell unsecured, short-term promissory notes (CP Notes). Under the U.S. program, a) maturities may not exceed 397 days from the date of issue and b) the CP Notes are issued on a private placement basis under customary terms in the commercial paper market and are not redeemable prior to maturity nor subject to voluntary prepayment. Under the euro program, maturities may not exceed 183 days and may be denominated in euro, U.S. dollars, Japanese yen, British pounds sterling, Swiss franc, Canadian dollars or other currencies. Under both programs, the CP Notes are issued at a discount from par (or premium to par, in the case of negative interest rates), or, alternatively, are sold at par and bear varying interest rates on a fixed or floating basis. As of December 31, 2021, there were $2.52 billion outstanding borrowings under these programs.
Senior Notes
Interest is payable quarterly on the floating rate senior notes, annually on the euro-denominated fixed rate senior notes and semi-annually on all other senior notes. Each of the fixed rate senior notes may be redeemed at a redemption price of 100% of the principal amount plus a specified make-whole premium and accrued interest. Except for the euro-denominated floating rate senior notes, which may not be redeemed early, the floating rate senior notes may be redeemed in whole or in part on or after their applicable call dates at a redemption price of 100% of the principal amount plus accrued interest. The company is subject to certain affirmative and negative covenants under the indentures governing the senior notes, the most restrictive of which limits the ability of the company to pledge principal properties as security under borrowing arrangements. The company was in compliance with all covenants at December 31, 2021.
The company intends to allocate an amount equal to the net proceeds from the 0.000% senior notes due 2025 to finance or refinance, in whole or in part, certain green or social eligible projects. Pending allocation to green or social eligible projects, such net proceeds may be temporarily invested in cash, cash equivalents, short-term investments, or used to repay other borrowings.
In 2021, the company redeemed some of its existing senior notes. In connection with these redemptions, the company incurred $767 million of losses on the early extinguishment of debt included in other income/(expense) on the accompanying
statement of income. Upon redemption of the senior notes, the company terminated the related fixed to floating rate interest rate swap arrangements and received $22 million, included in other financing activities, net, in the accompanying statement of cash flows.
In 2019, the company refinanced certain of its debt by issuing new senior notes and using the proceeds to redeem some of its existing senior notes. In connection with these redemptions, the company incurred $184 million of losses on the early extinguishment of debt included in other income/(expense) on the accompanying statement of income. Upon redemption of the senior notes, the company terminated the related fixed to floating rate interest rate swap arrangements and paid $17 million, included in other financing activities, net, in the accompanying statement of cash flows. The company also terminated related cross-currency interest rate swap arrangements and received $44 million, included in other investing activities, net, in the accompanying statement of cash flows.
In February 2022, the company redeemed all of its 3.650% Senior Notes due 2025. In connection with the redemption the company incurred approximately $26 million of losses on the early extinguishment of debt in the first quarter of 2022.
Thermo Fisher Scientific (Finance I) B.V. (Thermo Fisher International), a wholly-owned finance subsidiary of the company, issued each of the Floating Rate Senior Notes due 2023, the 0.00% Senior Notes due 2023, the 0.00% Senior Notes due 2025, the 0.80% Senior Notes due 2030, the 1.125% Senior Notes due 2033, the 1.625% Senior Notes due 2041, and the 2.00% Senior Notes due 2051 included in the table above (collectively, the “Euronotes”) in registered public offerings. The company has fully and unconditionally guaranteed all of Thermo Fisher International’s obligations under the Euronotes and all of Thermo Fisher International’s other debt securities, and no other subsidiary of the company will guarantee these obligations. Thermo Fisher International is a “finance subsidiary” as defined in Rule 13-01(a)(4)(vi) of the Exchange Act, with no assets or operations other than those related to the issuance, administration and repayment of the Euronotes and other debt securities issued by Thermo Fisher International from time to time. The financial condition, results of operations and cash flows of Thermo Fisher International are consolidated in the financial statements of the company.
v3.22.0.1
Leases
 12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Lessee, Operating Leases [Text Block]
Note 11.    Leases
As a lessee, the company leases certain logistics, office, and manufacturing facilities, as well as vehicles, copiers, and other equipment. These operating leases generally have remaining lease terms between 1 month and 30 years, and some include options to extend (generally for 1 to 10 years) or have options to terminate the arrangement within 1 year.
The company has guaranteed the residual value of three leased operating facilities with lease terms ending in 2023, 2024 and 2025. The company has agreed with the lessor to comply with certain financial covenants consistent with its other debt arrangements (Note 10). The aggregate maximum guarantee under these three lease arrangements is $147 million. Operating lease ROU assets and lease liabilities for these lease arrangements are recorded on the consolidated balance sheet as of December 31, 2021, but exclude any amounts for residual value guarantees.
As a lessee, the consolidated financial statements include the following relating to operating leases:
(In millions)202120202019
Balance sheet
ROU assets$1,531 $775 
Operating lease liabilities - current266 184 
Operating lease liabilities - noncurrent1,203 626 
Statement of income
Operating lease costs
$254 $224 $208 
Variable lease costs
66 49 41 
Statement of cash flows
Cash used in operating activities for payments of amounts included in the measurement of operating lease liabilities$288 $222 $208 
Operating lease ROU assets obtained in exchange for new operating lease liabilities293 202 205 
Weighted average at end of year
Remaining operating lease term9.9 years6.3 years6.2 years
Discount rate2.6 %3.4 %4.0 %
ROU assets are classified in other assets in the consolidated balance sheet. Operating lease liabilities are classified in other accrued expenses and other long-term liabilities, respectively, in the consolidated balance sheet.
Lease costs arising from finance leases, short-term leases, and sublease income are not material. See Note 10 for additional information relating to finance leases.
As of December 31, 2021, future payments of operating lease liabilities are as follows:
(In millions)
2022 $303 
2023 248 
2024 193 
2025 144 
2026 120 
2027 and thereafter650 
Total lease payments1,658 
Less: imputed interest
189 
Total operating lease liability$1,469 
As a lessor, operating leases, sales-type leases and direct financing leases are not material.
v3.22.0.1
Commitments and Contingencies
 12 Months Ended
Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies [Text Block]
Note 12.    Commitments and Contingencies
Purchase Obligations
The company has entered into unconditional purchase obligations, in the ordinary course of business, that include agreements to purchase goods, services or fixed assets and to pay royalties that are enforceable and legally binding and that specify all significant terms including: fixed or minimum quantities to be purchased; fixed, minimum or variable price provisions; and the approximate timing of the transaction. Purchase obligations exclude agreements that are cancelable at any time without penalty. The aggregate amount of the company’s unconditional purchase obligations totaled $2.51 billion at December 31, 2021 and the majority of these obligations are expected to be settled during 2022.
The Analytical Instruments segment recorded a charge to cost of product revenues for $108 million in 2020 related to an existing supply contract for components of electron microscopy instruments. The agreement requires the company to make future minimum purchases through 2025. The company developed and launched an alternative product beginning in 2020 and based on the expected demand for the internally developed product vs. the third-party product, the company does not expect to use all of the product it will be required to buy, resulting in a loss on the purchase commitment.
Letters of Credit, Guarantees and Other Commitments
Outstanding letters of credit and bank guarantees totaled $266 million at December 31, 2021. Substantially all of these letters of credit and guarantees expire before 2039.
Outstanding surety bonds and other guarantees totaled $95 million at December 31, 2021. The expiration of these bonds and guarantees ranges through 2023.
The letters of credit, bank guarantees and surety bonds principally secure performance obligations, and allow the holder to draw funds up to the face amount of the letter of credit, bank guarantee or surety bond if the applicable business unit does not perform as contractually required.
The company is a guarantor of pension plan obligations of a divested business. The purchaser of the divested business has agreed to pay for the pension benefits, however the company was required to guarantee payment of these pension benefits should the purchaser fail to do so. The amount of the guarantee at December 31, 2021 was $36 million.
In connection with the sale of businesses of the company, the buyers have assumed certain contractual obligations of such businesses and have agreed to indemnify the company with respect to those assumed liabilities. In the event a third-party to a transferred contract does not recognize the transfer of obligations or a buyer defaults on its obligations under the transferred contract, the company could be liable to the third-party for such obligations. However, in such event, the company would be entitled to seek indemnification from the buyer.
Indemnifications
In conjunction with certain transactions, primarily divestitures, the company has agreed to indemnify the other parties with respect to certain liabilities related to the businesses that were sold or leased properties that were abandoned (e.g., retention of certain environmental, tax, employee and product liabilities). The scope and duration of such indemnity obligations vary from transaction to transaction. Where probable, an obligation for such indemnifications is recorded as a liability. Generally, a maximum obligation cannot be reasonably estimated. Other than obligations recorded as liabilities at the time of divestiture, historically the company has not made significant payments for these indemnifications.
In connection with the company’s efforts to reduce the number of facilities that it occupies, the company has vacated some of its leased facilities or sublet them to third parties. When the company sublets a facility to a third-party, it remains the primary obligor under the master lease agreement with the owner of the facility. As a result, if a third-party vacates the sublet facility, the company would be obligated to make lease or other payments under the master lease agreement. The company believes that the financial risk of default by sublessors is individually and in the aggregate not material to the company’s financial position or results of operations.
In connection with the sale of products in the ordinary course of business, the company often makes representations affirming, among other things, that its products do not infringe on the intellectual property rights of others and agrees to indemnify customers against third-party claims for such infringement. The company has not been required to make material payments under such provisions.
Environmental Matters
The company is currently involved in various stages of investigation and remediation related to environmental matters. The company cannot predict all potential costs related to environmental remediation matters and the possible impact on future operations given the uncertainties regarding the extent of the required cleanup, the complexity and interpretation of applicable laws and regulations, the varying costs of alternative cleanup methods and the extent of the company’s responsibility. Expenses for environmental remediation matters related to the costs of installing, operating and maintaining groundwater-treatment systems and other remedial activities related to historical environmental contamination at the company’s domestic and international facilities were not material in any period presented. The company records accruals for environmental remediation liabilities, based on current interpretations of environmental laws and regulations, when it is probable that a liability has been incurred and the amount of such liability can be reasonably estimated. The company calculates estimates based upon several factors, including input from environmental specialists and management’s knowledge of and experience with these environmental matters. The company includes in these estimates potential costs for investigation, remediation and operation and
maintenance of cleanup sites. At December 31, 2021, the company’s total environmental liability was approximately $65 million. While management believes the accruals for environmental remediation are adequate based on current estimates of remediation costs, the company may be subject to additional remedial or compliance costs due to future events such as changes in existing laws and regulations, changes in agency direction or enforcement policies, developments in remediation technologies or changes in the conduct of the company’s operations, which could have a material adverse effect on the company’s financial position, results of operations or cash flows.
Litigation and Related Contingencies
The company is involved in various disputes, governmental and/or regulatory inspections, inquiries, investigations and proceedings, and litigation matters that arise from time to time in the ordinary course of business. The disputes and litigation matters include product liability, intellectual property, employment and commercial issues. The company determines the probability and range of possible loss based on the current status of each of these matters. A liability is recorded in the financial statements if it is believed to be probable that a loss has been incurred and the amount of the loss can be reasonably estimated. The company establishes a liability that is an estimate of amounts expected to be paid in the future for events that have already occurred. The company accrues the most likely amount or at least the minimum of the range of probable loss when a range of probable loss can be estimated. The accrued liabilities are based on management’s judgment as to the probability of losses for asserted and unasserted claims and, where applicable, actuarially determined estimates. Accrual estimates are adjusted as additional information becomes known or payments are made. The amount of ultimate loss may differ from these estimates. Due to the inherent uncertainties associated with pending litigation or claims, the company cannot predict the outcome, nor, with respect to certain pending litigation or claims where no liability has been accrued, make a meaningful estimate of the reasonably possible loss or range of loss that could result from an unfavorable outcome. The company has no material accruals for pending litigation or claims for which accrual amounts are not disclosed below, nor are material losses deemed probable for such matters. It is reasonably possible, however, that an unfavorable outcome that exceeds the company’s current accrual estimate, if any, for one or more of the matters described below could have a material adverse effect on the company’s results of operations, financial position and cash flows.
Product Liability, Workers Compensation and Other Personal Injury Matters
The company is involved in various proceedings and litigation that arise from time to time in connection with product liability, workers compensation and other personal injury matters. The range of probable loss for product liability, workers compensation and other personal injury matters of the company’s continuing operations at December 31, 2021, was approximately $216 million to $375 million on an undiscounted basis. The portion of these liabilities assumed in the 2006 merger with Fisher was recorded at its fair (present) value at the date of merger. The company’s accrual for all such matters in total, including the discounted liabilities, was $216 million at December 31, 2021 (or $223 million undiscounted). The accrual includes estimated defense costs and is gross of estimated amounts due from insurers of $100 million at December 31, 2021 (or $106 million undiscounted) that are included in other assets in the accompanying balance sheet. The portion of these insurance assets assumed in the merger with Fisher was also recorded at its fair value at the date of merger. In addition to the above accrual, as of December 31, 2021, the company had a product liability accrual of $11 million (undiscounted) relating to divested businesses.
Although the company believes that the amounts accrued and estimated recoveries are probable and appropriate based on available information, including actuarial studies of loss estimates, the process of estimating losses and insurance recoveries involves a considerable degree of judgment by management and the ultimate amounts could vary, which could have a material adverse effect on the company’s results of operations, financial position, and cash flows. Insurance contracts do not relieve the company of its primary obligation with respect to any losses incurred. The collectability of amounts due from its insurers is subject to the solvency and willingness of the insurer to pay, as well as the legal sufficiency of the insurance claims. Management monitors the payment history as well as the financial condition and ratings of its insurers on an ongoing basis.
v3.22.0.1
Comprehensive Income and Shareholders Equity
 12 Months Ended
Dec. 31, 2021
Stockholders' Equity Note [Abstract]  
Comprehensive Income and Shareholders' Equity [Text Block]
Note 13.    Comprehensive Income and Shareholders' Equity
Comprehensive Income (Loss)
Comprehensive income combines net income and other comprehensive items. Other comprehensive items represent certain amounts that are reported as components of shareholders’ equity in the accompanying balance sheet.
Changes in each component of accumulated other comprehensive items, net of tax are as follows:
(In millions)Currency
translation
adjustment		Unrealized
losses on
hedging
instruments		Pension and
other
postretirement
benefit
liability
adjustment		Total
Balance at December 31, 2020$(2,438)$(91)$(278)$(2,807)
Other comprehensive items before reclassifications
373 — 36 409 
Amounts reclassified from accumulated other comprehensive items
— 56 13 69 
Net other comprehensive items
373 56 49 478 
Balance at December 31, 2021$(2,065)$(35)$(229)$(2,329)
Shareholders’ Equity
At December 31, 2021, the company had reserved 23 million unissued shares of its common stock for possible issuance under stock-based compensation plans.
Early in the first quarter of 2022, the company repurchased $2.00 billion of the company's common stock (3.3 million shares).
v3.22.0.1
Fair Value Measurements and Fair Value of Financial Instruments
 12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
Fair Value Measurements and Fair Value of Financial Instruments [Text Block]
Note 14.    Fair Value Measurements and Fair Value of Financial Instruments
Fair Value Measurements
The company uses the market approach technique to value its financial instruments and there were no changes in valuation techniques during 2021. The company’s financial assets and liabilities carried at fair value are primarily comprised of investments in publicly traded securities, insurance contracts, investments in derivative contracts, mutual funds holding publicly traded securities and other investments in unit trusts held as assets to satisfy outstanding deferred compensation and retirement liabilities; and acquisition-related contingent consideration.
Assets and liabilities carried at fair value are classified and disclosed in one of the following three categories:
Level 1: Quoted market prices in active markets for identical assets or liabilities that the company has the ability to access.
Level 2: Observable market based inputs or unobservable inputs that are corroborated by market data such as quoted prices, interest rates and yield curves.
Level 3: Inputs are unobservable data points that are not corroborated by market data.
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, 2021 and December 31, 2020:
December 31,Quoted
prices in
active
markets		Significant
other
observable
inputs		Significant
unobservable
inputs
(In millions)2021(Level 1)(Level 2)(Level 3)
Assets
Cash equivalents
$2,210 $2,210 $— $— 
Investments
298 298 — — 
Warrants
15 — 15 — 
Insurance contracts
181 — 181 — 
Derivative contracts
36 — 36 — 
Total assets
$2,740 $2,508 $232 $— 
Liabilities
Derivative contracts
$1 $— $1 $— 
Contingent consideration
317 — — 317 
Total liabilities
$318 $— $1 $317 
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
21 21 — — 
Warrants
7 — 7 — 
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 
The company uses the Black-Scholes model to value its warrants. The company determines the fair value of its insurance contracts by obtaining the cash surrender value of the contracts from the issuer. The fair value of derivative contracts is the estimated amount that the company would receive/pay upon liquidation of the contracts, taking into account the change in interest rates and currency exchange rates. The company initially measures the fair value of acquisition-related contingent consideration based on amounts expected to be transferred (probability-weighted) discounted to present value. Changes to the fair value of contingent consideration are recorded in selling, general and administrative expense.
The following table provides a rollforward of the fair value, as determined by level 3 inputs (such as likelihood of achieving production or revenue milestones, as well as changes in the fair values of the investments underlying a
recapitalization investment portfolio), of the contingent consideration.
(In millions)20212020
Contingent consideration
Beginning balance
$70 $55 
Acquisitions (including assumed balances)
403 28 
Payments
(109)(4)
Changes in fair value included in earnings
(47)(9)
Ending balance
$317 $70 
Derivative Contracts
The following table provides the aggregate notional value of outstanding derivative contracts.
December 31,December 31,
(In millions)20212020
Notional amount
Interest rate swaps - fair value hedges$— $1,000 
Cross-currency interest rate swaps - designated as net investment hedges
900 900 
Currency exchange contracts
2,149 5,206 
While certain derivatives are subject to netting arrangements with counterparties, the company does not offset derivative assets and liabilities within the balance sheet. The following tables present the fair value of derivative instruments in the accompanying balance sheet and statement of income.
 Fair value – assetsFair value – liabilities
 December 31,December 31,December 31,December 31,
(In millions)2021202020212020
Derivatives designated as hedging instruments
Interest rate swaps (a)
$— $25 $— $— 
Cross-currency interest rate swaps (a)
25 — — 46 
Derivatives not designated as hedging instruments
Currency exchange contracts (b)
11 3 1 86 
Total derivatives
$36 $28 $1 $132 
(a)The fair values of the interest rate swaps and cross-currency interest rate swaps are included in the accompanying balance sheet under the caption other assets or other long-term liabilities.
(b)The fair value of the currency exchange contracts is included in the accompanying balance sheet under the captions other current assets or other accrued expenses.
The following amounts related to cumulative basis adjustments for fair value hedges were included in the accompanying balance sheet under the caption long-term obligations:
Carrying amount of the hedged liability Cumulative amount of fair value hedging adjustment - increase (decrease) included in carrying amount of liability
December 31,December 31,December 31,December 31,
(In millions)2021202020212020
Long-term obligations$— $1,020 $— $25 
 Gain (loss) recognized
(In millions)20212020
Fair value hedging relationships
Interest rate swaps
Hedged long-term obligations - included in other income/(expense)
$25 $(38)
Derivatives designated as hedging instruments - included in other income/(expense)
(3)38 
Derivatives designated as cash flow hedges
Interest rate swaps
Included in unrealized losses on hedging instruments within other comprehensive items
— (85)
Amount reclassified from accumulated other comprehensive items to other income/(expense)
(73)(59)
Financial instruments designated as net investment hedges
Foreign currency-denominated debt
Included in currency translation adjustment within other comprehensive items
922 (873)
Cross-currency interest rate swaps
Included in currency translation adjustment within other comprehensive items
71 (79)
Included in other income/(expense)
8 11 
Derivatives not designated as hedging instruments
Currency exchange contracts
Included in cost of product revenues
12 (17)
Included in other income/(expense)
162 (81)
Cross-currency interest rate swaps
Included in other income/(expense)
— (9)
Gains and losses recognized on currency exchange contracts and the interest rate swaps designated as fair value hedges are included in the accompanying statement of income together with the corresponding, offsetting losses and gains on the underlying hedged transactions.
The company uses foreign currency-denominated debt and cross-currency interest rate swaps to partially hedge its net investments in foreign operations against adverse movements in exchange rates. A portion of the company’s euro-denominated senior notes and its cross-currency interest rate swaps have been designated as, and are effective as, economic hedges of part of the net investment in a foreign operation. Accordingly, foreign currency transaction gains or losses due to spot rate fluctuations on the euro-denominated debt instruments and contract fair value changes on the cross-currency interest rate swaps, excluding interest accruals, are included in currency translation adjustment within other comprehensive items and shareholders’ equity.
See Note 1 and Note 10 for additional information on the company's risk management objectives and strategies.
Cash Flow Hedge Arrangements
In 2020 and 2019, the company entered into interest rate swap arrangements to mitigate the risk of interest rates rising prior to completion of debt offerings. Based on the company's conclusion that the debt offerings were probable, the swaps hedged the cash flow risk for each of the interest payments on the planned fixed-rate debt issues. The aggregate fair value of the terminated hedges, net of tax, has been classified as a reduction to accumulated other comprehensive items and will be amortized to interest expense over the term of the related debt issuances. The company had cash outlays aggregating $85 million and $50 million in 2020 and 2019, respectively, associated with termination of the arrangements, included in other financing activities, net, in the accompanying statement of cash flows.
In late 2020, the company determined that the previously anticipated debt offerings were probable of not occurring and reclassified $42 million from accumulated other comprehensive items to other income/(expense). During 2021, in connection with the extinguishment of debt (Note 10), the company reclassified $65 million from accumulated other comprehensive items to other income/(expense).
Fair Value of Other Financial Instruments
The carrying value and fair value of the company’s debt instruments are as follows:
December 31, 2021December 31, 2020
CarryingFairCarryingFair
(In millions)valuevaluevaluevalue
Senior notes
$32,072 $33,449 $21,723 $24,653 
Commercial paper
2,522 2,522 — — 
Other
76 76 5 5 
$34,670 $36,047 $21,728 $24,658 
The fair value of debt instruments 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.
v3.22.0.1
Supplemental Cash Flow Information
 12 Months Ended
Dec. 31, 2021
Supplemental Cash Flow Information [Abstract]  
Supplemental Cash Flow Information [Text Block]
Note 15.    Supplemental Cash Flow Information
(In millions)202120202019
Cash paid for:
Interest
$555 $471 $790 
Income taxes
2,182 1,324 896 
Non-cash investing and financing activities
Acquired but unpaid property, plant and equipment
379 347 150 
Fair value of equity awards exchanged43 — — 
Fair value of acquisition contingent consideration183 — — 
Finance lease ROU assets obtained in exchange for new finance lease liabilities15 5 1 
Declared but unpaid dividends
104 89 77 
Issuance of stock upon vesting of restricted stock units
265 217 182 
Cash, cash equivalents and restricted cash is included in the consolidated balance sheet as follows:
 December 31,December 31,
(In millions)20212020
Cash and cash equivalents$4,477 $10,325 
Restricted cash included in other current assets13 10 
Restricted cash included in other assets1 1 
Cash, cash equivalents and restricted cash$4,491 $10,336 
Amounts included in restricted cash represent funds held as collateral for bank guarantees and incoming cash in China awaiting government administrative clearance.
v3.22.0.1
Restructuring and Other Costs, Net
 12 Months Ended
Dec. 31, 2021
Restructuring and Related Activities [Abstract]  
Restructuring and Other Costs, Net [Text Block]
Note 16.    Restructuring and Other Costs (Income)
Restructuring and other costs in 2021 primarily included charges for impairments of an acquired technology asset and a tradename asset, and, to a lesser extent, compensation due to employees at acquired businesses on the date of acquisition. In 2021, severance actions associated with facility consolidations and cost reduction measures affected less than 1% of the company’s workforce.
Restructuring and other costs in 2020 primarily included continuing charges for headcount reductions and facility consolidations in an effort to streamline operations, including the closure and consolidation of operations within several facilities in the U.S. and Europe, and charges for the write-off of acquired technology. In 2020, severance actions associated with facility consolidations and cost reduction measures affected approximately 1% of the company’s workforce.
Restructuring and other costs (income) in 2019 primarily included the gain on the sale of the company’s Anatomical Pathology business, and, to a lesser extent, continuing charges for headcount reductions and facility consolidations in an effort to streamline operations, including the closure and consolidation of operations within several facilities in the U.S. and Europe. In 2019, severance actions associated with facility consolidations and cost reduction measures affected approximately 1% of the company’s workforce.
As of February 24, 2022, the company has identified restructuring actions that will result in additional charges of approximately $20 million, primarily in 2022, and expects to identify additional actions in future periods which will be recorded when specified criteria are met, such as communication of benefit arrangements or when the costs have been incurred.
Restructuring and other costs (income) by segment are as follows:
(In millions)202120202019
Life Sciences Solutions
$129 $34 $24 
Analytical Instruments
6 26 14 
Specialty Diagnostics
18 9 (471)
Laboratory Products and Biopharma Services
35 23 17 
Corporate
9 7 3 
$197 $99 $(413)
The following table summarizes the changes in the company’s accrued restructuring balance. Other amounts reported as restructuring and other costs in the accompanying statement of income have been summarized in the notes to the table. Accrued restructuring costs are included in other accrued expenses in the accompanying balance sheet.
(In millions)Total (a)
Balance at December 31, 2018$80 
Cumulative effect of accounting change (b)(28)
Net restructuring charges incurred in 2019 (c)
52 
Payments
(69)
Currency translation
(1)
Balance at December 31, 201934 
Net restructuring charges incurred in 2020 (d)
51 
Payments
(57)
Currency translation
(7)
Balance at December 31, 202021 
Net restructuring charges incurred in 2021 (e)
37 
Payments
(40)
Currency translation
(1)
Balance at December 31, 2021$17 
(a)The movements in the restructuring liability principally consist of severance and other costs such as relocation and moving expenses associated with facility consolidations, as well as employee retention costs which are accrued ratably over the period through which employees must work to qualify for a payment.
(b)Impact of adopting new lease accounting guidance on January 1, 2019.
(c)Excludes $465 million of net charges, principally $482 million of net gain on the sale of businesses recorded in the Specialty Diagnostics segment, partially offset by $17 million of other restructuring charges, net, across the company’s segments primarily for the write-off of acquired technology, pre-acquisition litigation-related matters, and compensation due to employees at businesses at the date of acquisition.
(d)Excludes $48 million of charges, principally $32 million for impairment of acquired technology in the Life Sciences Solutions segment resulting from a reduction in expected cash flows and, to a lesser extent, charges across the company’s segments for fixed asset writedowns and costs associated with environmental remediation at abandoned/previously owned facilities.
(e)Excludes $160 million of charges, principally $122 million for impairments of an acquired technology asset and a tradename asset in the Life Sciences Solutions and Laboratory Products and Biopharma Services segment, principally resulting from a reduction in expected cash flows, and $35 million of charges for compensation contractually due to employees of acquired businesses at the date of acquisition in the Life Sciences Solutions and Laboratory Products and Biopharma Services segments.
The company expects to pay accrued restructuring costs primarily through 2022.
v3.22.0.1
Nature of Operations and Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Principles of Consolidation [Policy Text Block]
Principles of Consolidation
The accompanying financial statements include the accounts of the company and its wholly and majority-owned subsidiaries. All material intercompany accounts and transactions have been eliminated. The company accounts for investments in businesses using the equity method when it has the ability to exercise significant influence but not control (generally between 20% and 50% ownership), is not the primary beneficiary and has not elected the fair value option. At December 31, 2021 and 2020, the company had such investments with carrying amounts of $576 million and $32 million, respectively. The company has elected the fair value option of accounting for certain of its investments with readily determinable fair values that would otherwise be accounted for under the equity method. At December 31, 2021, the fair value of such investments was $217 million.
Redeemable Noncontrolling Interest
The company owns 60% of its consolidated subsidiary PPD-SNBL K.K. The 40% ownership interest held by a third party is classified as a redeemable noncontrolling interest on the consolidated balance sheet due to certain put options under which the third party may require the company to purchase the remaining ownership interest at its pre-acquisition fair value.
Reclassification, Policy [Policy Text Block]
Presentation
Certain reclassifications of prior year amounts have been made to conform to the current year presentation.
Revenue Recognition [Policy Text Block]
Revenue Recognition
Consumables revenues consist of single-use products and are recognized at a point in time following the transfer of control of such products to the customer, which generally occurs upon shipment. Instruments revenues typically consist of longer-lived assets that, for the substantial majority of sales, are recognized at a point in time in a manner similar to consumables. Service revenues (primarily clinical research, pharmaceutical, and instrument and enterprise services) are recognized over time as customers receive and consume the benefits of such services. For revenues recognized over time, the company generally uses costs accumulated relative to total estimated costs to measure progress as this method approximates satisfaction of the performance obligation. For contracts that contain multiple performance obligations, the company allocates the consideration to which it expects to be entitled (i.e., the transaction price) to each performance obligation based on relative standalone selling prices and recognizes the related revenues when or as control of each individual performance obligation is transferred to customers. The company exercises judgment in determining the timing of revenue by analyzing the point in time or the period over which the customer has the ability to direct the use of and obtain substantially all of the remaining benefits of the asset. The company immediately expenses contract costs that would otherwise be capitalized and amortized over a period of less than one year.
Changes to the scope of services contracts generally also include changes in the transaction price. Typically, these contract modifications are not distinct from existing services provided under the contract, and result in cumulative adjustments to revenue on the modification date.
Payments from customers for most instruments and consumables are typically due in a fixed number of days after shipment or delivery of the product. Service arrangements commonly call for payments in advance of performing the work (e.g., extended service contracts), upon completion of the service (e.g., pharmaceutical services) or a mix of both. Some arrangements include variable amounts of consideration that arise from discounts, rebates, and other programs and practices. In such arrangements, the company estimates the amount by which to reduce the stated contract amount to reflect the transaction price. The company records reimbursement for third-party pass-through and out-of-pocket costs as revenues and the related expenses as costs of revenues.
Contract assets include revenues recognized in advance of billings where the company’s right to bill includes something other than the passage of time. Such amounts are recorded net of estimated losses resulting from the inability to invoice customers, which is primarily due to risk associated with the company’s performance. Contract assets are classified as current or noncurrent based on the amount of time expected to lapse until the company's right to consideration becomes unconditional.
Contract liabilities include billings in excess of revenues recognized, such as those resulting from customer advances and deposits and unearned revenues on service contracts. Contract liabilities are classified as current or noncurrent based on the periods over which remaining performance obligations are expected to be transferred to customers. Contract assets and liabilities are presented on a net basis in the consolidated balance sheet if they arise from different performance obligations in the same contract.
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block] Accounts receivable include unconditional rights to consideration from customers, which generally represent billings that do not bear interest. The company maintains allowances for doubtful accounts for estimates of expected losses resulting from the inability of its customers to pay amounts due. The allowance for doubtful accounts is the company’s best estimate of the amount of probable credit losses in existing accounts receivable. The company determines the allowance based on history of similarly aged receivables, the creditworthiness of the customer, reasons for delinquency, current economic conditions, expectations associated with future events and circumstances where reasonable and supportable forecasts are available and any other information that is relevant to the judgment. Receivables from academic and government customers as well as large, well-capitalized commercial customers have historically experienced less collectability risk. Account balances are charged off against the allowance when the company believes it is probable the receivable will not be recovered. The company does not have any off-balance-sheet credit exposure related to customers.
Warranty Obligations [Policy Text Block] Warranty ObligationsThe company provides for the estimated cost of standard product warranties, primarily from historical information, in cost of product revenues at the time product revenues are recognized. The liability for warranties is included in other accrued expenses in the accompanying balance sheet. Extended warranty agreements are considered service contracts, which are discussed above. Costs of service contracts are recognized as incurred.
Leases [Policy Text Block]
Leases
Operating leases that have commenced are included in other assets, other accrued expenses and other long-term liabilities in the consolidated balance sheet. Finance leases that have commenced are included in property, plant and equipment, net, current maturities of long-term obligations and long-term obligations in the consolidated balance sheet. Classification of lease liabilities as either current or noncurrent is based on the expected timing of payments due under the company’s obligations.
Right-of-use (ROU) assets represent the company’s right to use an underlying asset for the lease term and lease liabilities represent the company’s obligation to make lease payments arising from the lease. Lease ROU assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. Leases with an initial term of 12 months or less are not recorded on the consolidated balance sheet. The company recognizes operating lease expense on a straight-line basis over the lease term. Finance lease expense includes depreciation, which is recognized on a straight-line basis over the expected life of the leased asset, and an immaterial amount of interest expense.
Because most of the company’s leases do not provide an implicit interest rate, the company estimates incremental borrowing rates based on the information available at the commencement date in determining the present value of lease payments. The company uses the implicit rate when readily determinable. Lease terms include the effect of options to extend or terminate the lease when it is reasonably certain that the company will exercise that option. Operating lease expense is recognized on a straight-line basis over the lease term.
As a lessee, the company accounts for the lease and non-lease components as a single lease component.
Research and Development [Policy Text Block]
Research and Development
The company conducts research and development activities to increase its depth of capabilities in technologies, software and services. Research and development costs include employee compensation and benefits, consultants, facilities related costs, material costs, depreciation and travel. Research and development costs are expensed as incurred.
Restructuring [Policy Text Block]
Restructuring Costs
Accounting for the timing and amount of termination benefits provided by the company to employees is determined based on whether: (a) the company has a substantive plan to provide such benefits, (b) the company has a written employment contract with the affected employees that includes a provision for such benefits, (c) the termination benefits are due to the occurrence of an event specified in an existing plan or agreement, or (d) the termination benefits are a one-time benefit. In certain circumstances, employee termination benefits may meet more than one of the characteristics listed above and therefore, may have individual elements that are subject to different accounting models.
From time to time when executing a restructuring or exit plan, the company also incurs costs other than termination benefits, such as lease termination costs, that are not associated with or will not be incurred to generate revenues. These include costs that represent amounts under contractual obligations that exist prior to the restructuring plan communication date and will either continue after the restructuring plan is completed with no economic benefit or result in a penalty to cancel a contractual obligation. Such costs are recognized when incurred, which generally occurs at the contract termination or over the period from when a plan to abandon a leased facility is approved through the cease-use date but charges may continue over the remainder of the original contractual period.
Income Taxes [Policy Text Block]
Income Taxes
The company recognizes deferred income taxes based on the expected future tax consequences of differences between the financial statement basis and the tax basis of assets and liabilities, calculated using enacted tax rates in effect for the year in which the differences are expected to be reflected in the tax return. A valuation allowance is provided for tax assets that will more likely than not go unused.
The financial statements reflect expected future tax consequences of uncertain tax positions that the company has taken or expects to take on a tax return presuming the taxing authorities’ full knowledge of the positions and all relevant facts, but without discounting for the time value of money.
Earnings Per Share [Policy Text Block]
Earnings per Share
Basic earnings per share has been computed by dividing net income attributable to Thermo Fisher Scientific Inc. by the weighted average number of shares outstanding during the year. Except where the result would be antidilutive to net income attributable to Thermo Fisher Scientific Inc., diluted earnings per share has been computed using the treasury stock method for outstanding stock options and restricted units.
Cash and Cash Equivalents [Policy Text Block]
Cash and Cash Equivalents
Cash equivalents consists principally of money market funds, commercial paper and other marketable securities purchased with an original maturity of three months or less. These investments are carried at cost, which approximates market value.
Inventories [Policy Text Block] InventoriesInventories are valued at the lower of cost or net realizable value, cost being determined by the first-in, first-out (FIFO) method. As discussed below, prior to the third quarter of 2021 certain of the company's businesses utilized the last-in, first-out (LIFO) method. The company periodically reviews quantities of inventories on hand and compares these amounts to the expected use of each product or product line. In addition, the company has certain inventory that is subject to fluctuating market pricing. The company records a charge to cost of sales for the amount required to reduce the carrying value of inventory to net realizable value. Costs associated with the procurement of inventories, such as inbound freight charges, purchasing and receiving costs, and internal transfer costs, are included in cost of revenues in the accompanying statement of income.
Property, Plant and Equipment [Policy Text Block] Property, Plant and EquipmentProperty, plant and equipment are recorded at cost. The costs of additions and improvements are capitalized, while maintenance and repairs are charged to expense as incurred. The company generally provides for depreciation and amortization using the straight-line method over the estimated useful lives of the property as follows: buildings and improvements, 25 to 40 years; machinery and equipment (including software), 3 to 10 years; and leasehold improvements, the shorter of the term of the lease or the life of the asset. When assets are retired or otherwise disposed of, the assets and related accumulated depreciation are eliminated from the accounts and the resulting gain or loss is reflected in the accompanying statement of income.
Acquisition-related Intangible Assets [Policy Text Block]
Acquisition-related Intangible Assets
Acquisition-related intangible assets include the costs of acquired customer relationships, product technology, tradenames, backlog and other specifically identifiable intangible assets, and are being amortized using the straight-line method over their estimated useful lives, which range up to 20 years. The company reviews these intangible assets for impairment when indication of potential impairment exists, such as a significant reduction in cash flows associated with the assets. When impairment indicators exist, the company determines whether the carrying value of its intangible assets exceeds the related undiscounted cash flows. In these situations, the carrying value is written down to fair value.
Investments [Policy Text Block] Equity investments that do not have readily determinable fair values and are not eligible for the net asset value (NAV) practical expedient are measured at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investments of the same issuer. The company performs qualitative assessments to identify impairments of these investments.
Goodwill [Policy Text Block]
Goodwill
The company assesses goodwill for impairment at the reporting unit level annually and whenever events occur or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. Such events or circumstances generally include the occurrence of operating losses or a significant decline in earnings associated with one or more of the company’s reporting units. The company is permitted to first assess qualitative factors to determine whether the quantitative goodwill impairment test is necessary. If the qualitative assessment results in a determination that the fair value of a reporting unit is more likely than not less than its carrying amount, the company performs a quantitative goodwill impairment test. The company may bypass the qualitative assessment for the reporting unit in any period and proceed directly to the goodwill impairment test. The company estimates the fair value of its reporting units by using forecasts of discounted future cash flows and peer market multiples. The company would record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value (limited to the amount of goodwill). The company determined that no impairments existed in 2021, 2020 or 2019.
Loss Contingencies [Policy Text Block]
Loss Contingencies
Accruals are recorded for various contingencies, including legal proceedings, environmental, workers’ compensation, product, general and auto liabilities, self-insurance and other claims that arise in the normal course of business. The accruals are based on management’s judgment, historical claims experience, the probability of losses and, where applicable, the consideration of opinions of internal and/or external legal counsel and actuarial estimates. Additionally, the company records receivables from third-party insurers up to the amount of the loss when recovery has been determined to be probable. Certain liabilities acquired in acquisitions have been recorded at readily determinable fair values and, as such, were discounted to present value at the dates of acquisition.
Currency Translation [Policy Text Block] Currency TranslationAll assets and liabilities of the company’s subsidiaries operating in non-U.S. dollar currencies are translated at period-end exchange rates. Resulting translation adjustments are reflected in the “accumulated other comprehensive items” component of shareholders’ equity. Revenues and expenses are translated at average exchange rates for the period.
Derivatives Contracts [Policy Text Block]
Derivative Contracts
The company is exposed to certain risks relating to its ongoing business operations including changes to interest rates and currency exchange rates. The company uses derivative instruments primarily to manage currency exchange and interest rate risks. The company recognizes derivative instruments as either assets or liabilities and measures those instruments at fair value. If a derivative is a hedge, depending on the nature of the hedge, changes in the fair value of the derivative are either offset against the change in fair value of the hedged item through earnings or recognized in other comprehensive items until the hedged item is recognized in earnings. Derivatives that are not designated as hedges are recorded at fair value through earnings.
The company uses short-term forward and option currency exchange contracts primarily to hedge certain balance sheet and operational exposures resulting from changes in currency exchange rates, predominantly intercompany loans and cash balances that are denominated in currencies other than the functional currencies of the respective operations. The currency-exchange contracts principally hedge transactions denominated in euro, Swiss franc, British pounds sterling, Canadian dollars, Czech koruna, Japanese yen and Hong Kong dollars. The company does not hold or engage in transactions involving derivative instruments for purposes other than risk management.
Cash flow hedges. For derivative instruments that are designated and qualify as a cash flow hedge, the gain or loss on the derivative is reported as a component of other comprehensive items and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings and is presented in the same income statement line item as the earnings effect of the hedged item.
Fair value hedges. For derivative instruments that are designated and qualify as a fair value hedge, the gain or loss on the derivative, as well as the offsetting loss or gain on the hedged item attributable to the hedged risk, are recognized in earnings.
Net investment hedges. The company uses foreign currency-denominated debt and cross-currency interest rate swaps to partially hedge its net investments in foreign operations against adverse movements in exchange rates. A portion of the company’s euro-denominated senior notes and its cross-currency interest rate swaps have been designated as, and are effective as, economic hedges of part of the net investment in a foreign operation. Accordingly, foreign currency transaction gains or losses due to spot rate fluctuations on the euro-denominated debt instruments and contract fair value changes on the cross-currency interest rate swaps, excluding interest accruals, are included in currency translation adjustment within other comprehensive items and shareholders’ equity.
Use of Estimates [Policy Text Block]
Use of Estimates
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.
The company’s estimates include, among others, asset reserve requirements as well as the amounts of future cash flows associated with certain assets and businesses that are used in assessing the risk of impairment. Risks and uncertainties associated with the ongoing COVID-19 global pandemic materially adversely affected certain of the company’s businesses in 2020, particularly in the Analytical Instruments segment and, to a lesser extent, some businesses within the other three segments. The negative impacts significantly lessened in 2021. The extent and duration of negative impacts in the future, which
may include inflationary pressures and supply chain disruptions, are uncertain and may require changes to estimates. Actual results could differ from those estimates.
New Accounting Pronouncements, Policy [Policy Text Block]
Recent Accounting Pronouncements
In November 2021, the FASB issued new guidance to require entities to disclose information about certain types of government assistance they receive, including cash grants and tax credits. Among other things, the new guidance requires expanded disclosure regarding the qualitative and quantitative characteristics of the nature, amount, timing, and significant terms and conditions of transactions with a government arising from a grant or other forms of assistance accounted for under a contribution model. The company will adopt this guidance in 2022 using a prospective method. The adoption of this guidance is not expected to have a material impact on the company’s disclosures; however, the impact will be dependent on the extent of transactions of this nature entered into by the company in periods subsequent to the date of adoption.
In October 2021, the FASB amended guidance to recognize and measure contract assets and contract liabilities acquired in a business combination. Generally, this new guidance will result in the company recognizing contract assets and contract liabilities at the same amounts recorded by the acquiree. The company adopted this guidance in the fourth quarter of 2021 retrospectively to all business combinations completed in the first three quarters of 2021 and prospectively to all future business combinations. The adoption of this guidance did not have a material impact on the company’s consolidated financial statements for acquisitions that closed in 2021; however, the impact in future periods will be dependent on the contract assets and contract liabilities acquired in future business combinations.
In July 2021, the FASB amended guidance to require lessors to classify leases as operating leases if they have certain variable lease payment structures and would have selling losses if they were classified as sales-type or direct financing leases. The company adopted the guidance in the third quarter of 2021 using a prospective method. The adoption of this guidance did not have a material impact on the company’s consolidated financial statements.
In January 2020, the FASB issued new guidance to clarify the interaction of the accounting for certain equity securities, equity method investments, and certain forward contracts and purchased options. Among other things, the new guidance clarifies that an entity should consider observable transactions that require it to either apply or discontinue the equity method of accounting for the purposes of applying measurement principles for certain equity securities immediately before applying or discontinuing the equity method. The company adopted this guidance in 2020 using a prospective method. The adoption of this guidance did not have a material impact on the company’s consolidated financial statements.
In December 2019, the FASB issued new guidance to simplify the accounting for income taxes. Among other things, the new guidance requires the effects of enacted changes in tax laws or rates to be reflected in the annual effective tax rate computation in the interim period that includes the enactment date. The company adopted this guidance in 2021 using a prospective method. The adoption of this guidance did not have a material impact on the company’s consolidated financial statements; however, the impact in future periods will be dependent on the extent of future events or conditions that would be affected such as enacted changes in tax laws or rates.
In August 2018, the FASB issued new guidance to modify the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The company adopted the guidance in 2020 using a retrospective method. The adoption of this guidance did not have a material impact on the company’s disclosures.
In August 2018, the FASB issued new guidance to modify the disclosure requirements on fair value measurements. The company adopted the guidance in 2020 with some items requiring a prospective method and others requiring a retrospective method. The adoption of this guidance did not have a material impact on the company’s disclosures.
In June 2016, the FASB issued new guidance to require a financial asset measured at amortized cost basis, such as accounts receivable, to be presented at the net amount expected to be collected based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. During 2018 and 2019, the FASB issued additional guidance and clarification. The company adopted the guidance in 2020 using a modified retrospective method. The adoption of this guidance reduced accounts receivable and retained earnings by $1 million on January 1, 2020.
In February 2016, the FASB issued new guidance which requires lessees to record most leases on their balance sheets as lease liabilities, initially measured at the present value of the future lease payments, with corresponding right-of-use assets. The new guidance also sets forth new disclosure requirements related to leases. During 2017 - 2019, the FASB issued additional guidance and clarification. The company adopted this guidance in January 2019. The company elected to adopt the guidance using a modified retrospective method, by applying the transition approach as of the beginning of the period of adoption. Comparative periods have not been restated. As permitted upon transition, the company did not reassess whether any expired or
existing contracts were or contained embedded leases, the lease classification for any expired or existing leases, initial direct costs for any leases, or whether land easements met the definition of a lease if they were not accounted for as leases under the prior guidance. The adoption of this guidance increased retained earnings by $4 million on January 1, 2019.
Business Combinations Policy [Policy Text Block]
The company’s acquisitions have historically been made at prices above the determined fair value of the acquired identifiable net assets, resulting in goodwill, primarily due to expectations of the synergies that will be realized by combining the businesses and the benefits that will be gained from the assembled workforce. These synergies include the elimination of redundant facilities, functions and staffing; use of the company’s existing commercial infrastructure to expand sales of the acquired businesses’ products; and use of the commercial infrastructure of the acquired businesses to cost-effectively expand sales of company products.
Acquisitions have been accounted for using the acquisition method of accounting, and the acquired companies’ results have been included in the accompanying financial statements from their respective dates of acquisition. Acquisition transaction costs are recorded in selling, general and administrative expenses as incurred.
Stock-based Compensation Expense Policies [Policy Text Block]
Compensation cost is based on the grant-date fair value and is recognized ratably over the requisite vesting period or to the date based on qualifying retirement eligibility, if earlier, and is primarily included in selling, general and administrative expenses.
Stock Options
The company’s practice is to grant stock options at fair market value. Options vest over 3-5 years with terms of 7-10 years, assuming continued employment with certain exceptions. Vesting of the option awards is contingent upon meeting certain service conditions. The fair value of most option grants is estimated using the Black-Scholes option pricing model. For option grants that require the achievement of both service and market conditions, a lattice model is used to estimate fair value. The fair value is then amortized on a straight-line basis over the requisite service periods of the awards, which is generally the vesting period. Use of a valuation model requires management to make certain assumptions with respect to selected model inputs. Expected volatility was calculated based on the historical volatility of the company’s stock. Historical data on exercise patterns is the basis for estimating the expected life of an option. The risk-free interest rate is based on U.S. Treasury zero-coupon issues with a remaining term which approximates the expected life assumed at the date of grant. The expected annual dividend rate was calculated by dividing the company’s annual dividend, based on the most recent quarterly dividend rate, by the closing stock price on the grant date. The compensation expense recognized for all stock-based awards is net of estimated forfeitures. Forfeitures are estimated based on an analysis of actual option forfeitures.
Restricted Share/Unit Awards
Awards of restricted units convert into an equivalent number of shares of common stock. The awards generally vest over 3-4 years, assuming continued employment, with some exceptions. Vesting of the awards is contingent upon meeting certain service conditions and may also be contingent upon meeting certain performance and/or market conditions. The fair market value of the award at the time of the grant is amortized to expense over the requisite service period of the award, which is generally the vesting period. Recipients of restricted units have no voting rights but are entitled to accrue dividend equivalents. The fair value of service- and performance-based restricted unit awards is determined based on the number of units granted and the market value of the company’s shares on the grant date. For awards with market-based vesting conditions, the company uses a lattice model to estimate the grant-date fair value of the award.
Pension and Other Postretirement Benefit Plans, Policies [Policy Text Block]
Defined Benefit Pension Plans
Employees of a number of the company’s non-U.S. and certain U.S. subsidiaries participate in defined benefit pension plans covering substantially all full-time employees at those subsidiaries. Some of the plans are unfunded, as permitted under the plans and applicable laws. The company also maintains postretirement healthcare programs at several acquired businesses where certain employees are eligible to participate. The liabilities and costs associated with the company’s postretirement healthcare programs are generally funded on a self-insured and insured-premium basis and are not material for any period presented.
The company recognizes the funded status of defined benefit pension and other postretirement benefit plans as an asset or liability. This amount is defined as the difference between the fair value of plan assets and the benefit obligation. The company is required to recognize as a component of other comprehensive items, net of tax, the actuarial gains/losses and prior service costs/credits that arise but were not previously required to be recognized as components of net periodic benefit cost. Other comprehensive items is adjusted as these amounts are later recognized in income as components of net periodic benefit cost.
When a company with a pension plan is acquired, any excess of projected benefit obligation over the plan assets is recognized as a liability and any excess of plan assets over the projected benefit obligation is recognized as an asset. The recognition of a new liability or a new asset results in the elimination of (a) previously existing unrecognized net gain or loss and (b) unrecognized prior service cost or credits.
The company funds annually, at a minimum, the statutorily required minimum amount as actuarially determined.
The discount rate reflects the rate the company would have to pay to purchase high-quality investments that would provide cash sufficient to settle its current pension obligations. The discount rate is determined based on a range of factors, including the rates of return on high-quality, fixed-income corporate bonds and the related expected duration of the obligations or, in certain instances, the company has used a hypothetical portfolio of high quality instruments with maturities that mirror the benefit obligation in order to accurately estimate the discount rate relevant to a particular plan.
The company utilizes a full yield curve approach in the estimation of these components by applying the specific spot-rates along the yield curve used in the determination of the benefit obligation to the relevant projected cash flows.
The expected long-term rate of return on plan assets reflects the average rate of earnings expected on the funds invested, or to be invested, to provide for the benefits included in the projected benefit obligations. In determining the expected long-term rate of return on plan assets, the company considers the relative weighting of plan assets, the historical performance of total plan assets and individual asset classes and economic and other indicators of future performance. In addition, the company may consult with and consider the opinions of financial and other professionals in developing appropriate return benchmarks.
Asset management objectives include maintaining an adequate level of diversification to reduce interest rate and market risk and providing adequate liquidity to meet immediate and future benefit payment requirements.
The expected rate of compensation increase reflects the long-term average rate of salary increases and is based on historic salary increase experience and management’s expectations of future salary increases.
Domestic Pension Plan Assets
The company’s overall objective is to manage the assets in a liability framework where investments are selected that are expected to have similar changes in fair value as the related liabilities will have upon changes in interest rates. The company invests in a portfolio of both return-seeking and liability-hedging assets, primarily through the use of institutional collective funds, to achieve long-term growth and to insulate the funded position from interest rate volatility. The strategic asset allocation uses a combination of risk controlled and index strategies in fixed income and global equities. The target allocations for the investments are approximately 10% to funds investing in U.S. equities, approximately 10% to funds investing in international equities and approximately 80% to funds investing in fixed income securities. The portfolio maintains enough liquidity at all times to meet the near-term benefit payments.
Non-U.S. Pension Plan Assets
The company maintains specific plan assets for many of the individual pension plans outside the U.S. The investment strategy of each plan has been uniquely established based on the country specific standards and characteristics of the plans. Several of the plans have contracts with insurance companies whereby the market risks of the benefit obligations are borne by the insurance companies. When assets are held directly in investments, generally the objective is to invest in a portfolio of
diversified assets with a variety of fund managers. The investments may include equity funds, fixed income funds, hedge funds, multi-asset funds, alternative investments and derivative funds with the target asset allocations ranging from approximately 0% - 25% for equity funds, 40% - 90% for fixed income funds, 0% - 35% for multi-asset funds, and 0% - 30% for funds holding derivatives. The derivatives held by the funds are primarily interest rate swaps intended to match the movements in the plan liabilities. Each plan maintains enough liquidity at all times to meet the near-term benefit payments.
v3.22.0.1
Acquisitions and Dispositions (Policies)
 12 Months Ended
Dec. 31, 2021
Business Combinations [Abstract]  
Business Combinations Policy [Policy Text Block]
The company’s acquisitions have historically been made at prices above the determined fair value of the acquired identifiable net assets, resulting in goodwill, primarily due to expectations of the synergies that will be realized by combining the businesses and the benefits that will be gained from the assembled workforce. These synergies include the elimination of redundant facilities, functions and staffing; use of the company’s existing commercial infrastructure to expand sales of the acquired businesses’ products; and use of the commercial infrastructure of the acquired businesses to cost-effectively expand sales of company products.
Acquisitions have been accounted for using the acquisition method of accounting, and the acquired companies’ results have been included in the accompanying financial statements from their respective dates of acquisition. Acquisition transaction costs are recorded in selling, general and administrative expenses as incurred.
v3.22.0.1
Stockbased Compensation Expense (Policies)
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Stock-based Compensation Expense Policies [Policy Text Block]
Compensation cost is based on the grant-date fair value and is recognized ratably over the requisite vesting period or to the date based on qualifying retirement eligibility, if earlier, and is primarily included in selling, general and administrative expenses.
Stock Options
The company’s practice is to grant stock options at fair market value. Options vest over 3-5 years with terms of 7-10 years, assuming continued employment with certain exceptions. Vesting of the option awards is contingent upon meeting certain service conditions. The fair value of most option grants is estimated using the Black-Scholes option pricing model. For option grants that require the achievement of both service and market conditions, a lattice model is used to estimate fair value. The fair value is then amortized on a straight-line basis over the requisite service periods of the awards, which is generally the vesting period. Use of a valuation model requires management to make certain assumptions with respect to selected model inputs. Expected volatility was calculated based on the historical volatility of the company’s stock. Historical data on exercise patterns is the basis for estimating the expected life of an option. The risk-free interest rate is based on U.S. Treasury zero-coupon issues with a remaining term which approximates the expected life assumed at the date of grant. The expected annual dividend rate was calculated by dividing the company’s annual dividend, based on the most recent quarterly dividend rate, by the closing stock price on the grant date. The compensation expense recognized for all stock-based awards is net of estimated forfeitures. Forfeitures are estimated based on an analysis of actual option forfeitures.
Restricted Share/Unit Awards
Awards of restricted units convert into an equivalent number of shares of common stock. The awards generally vest over 3-4 years, assuming continued employment, with some exceptions. Vesting of the awards is contingent upon meeting certain service conditions and may also be contingent upon meeting certain performance and/or market conditions. The fair market value of the award at the time of the grant is amortized to expense over the requisite service period of the award, which is generally the vesting period. Recipients of restricted units have no voting rights but are entitled to accrue dividend equivalents. The fair value of service- and performance-based restricted unit awards is determined based on the number of units granted and the market value of the company’s shares on the grant date. For awards with market-based vesting conditions, the company uses a lattice model to estimate the grant-date fair value of the award.
v3.22.0.1
Pension and Other Postretirement Benefit Plans (Policies)
 12 Months Ended
Dec. 31, 2021
Retirement Benefits [Abstract]  
Pension and Other Postretirement Benefit Plans, Policies [Policy Text Block]
Defined Benefit Pension Plans
Employees of a number of the company’s non-U.S. and certain U.S. subsidiaries participate in defined benefit pension plans covering substantially all full-time employees at those subsidiaries. Some of the plans are unfunded, as permitted under the plans and applicable laws. The company also maintains postretirement healthcare programs at several acquired businesses where certain employees are eligible to participate. The liabilities and costs associated with the company’s postretirement healthcare programs are generally funded on a self-insured and insured-premium basis and are not material for any period presented.
The company recognizes the funded status of defined benefit pension and other postretirement benefit plans as an asset or liability. This amount is defined as the difference between the fair value of plan assets and the benefit obligation. The company is required to recognize as a component of other comprehensive items, net of tax, the actuarial gains/losses and prior service costs/credits that arise but were not previously required to be recognized as components of net periodic benefit cost. Other comprehensive items is adjusted as these amounts are later recognized in income as components of net periodic benefit cost.
When a company with a pension plan is acquired, any excess of projected benefit obligation over the plan assets is recognized as a liability and any excess of plan assets over the projected benefit obligation is recognized as an asset. The recognition of a new liability or a new asset results in the elimination of (a) previously existing unrecognized net gain or loss and (b) unrecognized prior service cost or credits.
The company funds annually, at a minimum, the statutorily required minimum amount as actuarially determined.
The discount rate reflects the rate the company would have to pay to purchase high-quality investments that would provide cash sufficient to settle its current pension obligations. The discount rate is determined based on a range of factors, including the rates of return on high-quality, fixed-income corporate bonds and the related expected duration of the obligations or, in certain instances, the company has used a hypothetical portfolio of high quality instruments with maturities that mirror the benefit obligation in order to accurately estimate the discount rate relevant to a particular plan.
The company utilizes a full yield curve approach in the estimation of these components by applying the specific spot-rates along the yield curve used in the determination of the benefit obligation to the relevant projected cash flows.
The expected long-term rate of return on plan assets reflects the average rate of earnings expected on the funds invested, or to be invested, to provide for the benefits included in the projected benefit obligations. In determining the expected long-term rate of return on plan assets, the company considers the relative weighting of plan assets, the historical performance of total plan assets and individual asset classes and economic and other indicators of future performance. In addition, the company may consult with and consider the opinions of financial and other professionals in developing appropriate return benchmarks.
Asset management objectives include maintaining an adequate level of diversification to reduce interest rate and market risk and providing adequate liquidity to meet immediate and future benefit payment requirements.
The expected rate of compensation increase reflects the long-term average rate of salary increases and is based on historic salary increase experience and management’s expectations of future salary increases.
Domestic Pension Plan Assets
The company’s overall objective is to manage the assets in a liability framework where investments are selected that are expected to have similar changes in fair value as the related liabilities will have upon changes in interest rates. The company invests in a portfolio of both return-seeking and liability-hedging assets, primarily through the use of institutional collective funds, to achieve long-term growth and to insulate the funded position from interest rate volatility. The strategic asset allocation uses a combination of risk controlled and index strategies in fixed income and global equities. The target allocations for the investments are approximately 10% to funds investing in U.S. equities, approximately 10% to funds investing in international equities and approximately 80% to funds investing in fixed income securities. The portfolio maintains enough liquidity at all times to meet the near-term benefit payments.
Non-U.S. Pension Plan Assets
The company maintains specific plan assets for many of the individual pension plans outside the U.S. The investment strategy of each plan has been uniquely established based on the country specific standards and characteristics of the plans. Several of the plans have contracts with insurance companies whereby the market risks of the benefit obligations are borne by the insurance companies. When assets are held directly in investments, generally the objective is to invest in a portfolio of
diversified assets with a variety of fund managers. The investments may include equity funds, fixed income funds, hedge funds, multi-asset funds, alternative investments and derivative funds with the target asset allocations ranging from approximately 0% - 25% for equity funds, 40% - 90% for fixed income funds, 0% - 35% for multi-asset funds, and 0% - 30% for funds holding derivatives. The derivatives held by the funds are primarily interest rate swaps intended to match the movements in the plan liabilities. Each plan maintains enough liquidity at all times to meet the near-term benefit payments.
v3.22.0.1
Nature of Operations and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Inventories [Table Text Block] The components of inventories are as follows:
December 31,December 31,
(In millions)20212020
Raw materials$1,922 $1,305 
Work in process676 540 
Finished goods2,453 2,184 
Inventories$5,051 $4,029 
Property, Plant and Equipment [Table Text Block] Property, plant and equipment consists of the following:
December 31,December 31,
(In millions)20212020
Land$431 $410 
Buildings and improvements2,575 2,192 
Machinery, equipment and leasehold improvements9,587 6,975 
Property, plant and equipment, at cost12,593 9,577 
Less: Accumulated depreciation and amortization4,260 3,665 
Property, plant and equipment, net$8,333 $5,912 
Finite-Lived Acquisition-related Intangible Assets [Table Text Block]
Acquisition-related intangible assets are as follows:
Balance at December 31, 2021Balance at December 31, 2020
(In millions)GrossAccumulated AmortizationNetGrossAccumulated AmortizationNet
Definite lived:
Customer relationships
$22,802 $(7,792)$15,010 $16,593 $(7,450)$9,143 
Product technology
6,041 (3,977)2,064 5,523 (3,532)1,991 
Tradenames
1,722 (919)803 1,213 (897)316 
Backlog
1,060 (59)1,001 — — — 
31,625 (12,747)18,878 23,329 (11,879)11,450 
Indefinite lived:
Tradenames
1,235 N/A1,235 1,235 N/A1,235 
Acquisition-related intangible assets
$32,860 $(12,747)$20,113 $24,564 $(11,879)$12,685 
Indefinite-Lived Acquisition-related Intangible Assets [Table Text Block]
Acquisition-related intangible assets are as follows:
Balance at December 31, 2021Balance at December 31, 2020
(In millions)GrossAccumulated AmortizationNetGrossAccumulated AmortizationNet
Definite lived:
Customer relationships
$22,802 $(7,792)$15,010 $16,593 $(7,450)$9,143 
Product technology
6,041 (3,977)2,064 5,523 (3,532)1,991 
Tradenames
1,722 (919)803 1,213 (897)316 
Backlog
1,060 (59)1,001 — — — 
31,625 (12,747)18,878 23,329 (11,879)11,450 
Indefinite lived:
Tradenames
1,235 N/A1,235 1,235 N/A1,235 
Acquisition-related intangible assets
$32,860 $(12,747)$20,113 $24,564 $(11,879)$12,685 
Finite-Lived Acquisition-related Intangible Assets, Future Amortization Expense [Table Text Block] The estimated future amortization expense of acquisition-related intangible assets with definite lives is as follows:
(In millions)
2022 $2,489 
2023 2,358 
2024 1,992 
2025 1,669 
2026 1,392 
2027 and thereafter8,978 
Estimated future amortization expense of definite-lived intangible assets$18,878 
Goodwill [Table Text Block] The changes in the carrying amount of goodwill by segment are as follows:
(In millions)Life Sciences
Solutions		Analytical
Instruments		Specialty
Diagnostics		Laboratory
Products and
Biopharma Services		Total
Balance at December 31, 2019
$8,544 $4,928 $3,184 $9,058 $25,714 
Acquisition
35 — — — 35 
Currency translation
11 151 186 (56)292 
Balance at December 31, 2020
8,590 5,079 3,370 9,002 26,041 
Acquisitions
1,560 56 8 14,400 16,024 
Currency translation
(7)(92)(101)59 (141)
Balance at December 31, 2021
$10,143 $5,043 $3,277 $23,461 $41,924 
v3.22.0.1
Acquisitions and Dispositions (Tables)
 12 Months Ended
Dec. 31, 2021
Business Combinations [Abstract]  
Schedule of Business Acquisitions, by Acquisition [Table Text Block] The components of the purchase price and net assets acquired for 2021 acquisitions are as follows:
(In millions)PPDPeproTechEuropean Viral Vector BusinessMesa BiotechLengnau biologics manufacturing facilityOther
Purchase price
Cash paid
$17,237 $1,947 $848 $421 $17 $298 
Fair value of equity awards exchanged
43 — — — — — 
Fair value of contingent consideration
— — — 65 1 117 
Cash acquired
(1,244)(83)(18)(14)— (13)
$16,036 $1,864 $830 $472 $18 $402 
Net assets acquired
Current assets
$2,510 $63 $39 $54 $— $12 
Property, plant and equipment
562 18 59 2 92 2 
Definite-lived intangible assets:
Customer relationships
6,264 514 302 — — 2 
Product technology
— 282 25 279 — 224 
Tradenames
603 — — 2 — 2 
Backlog1,060 — — — — — 
Goodwill
13,781 1,190 600 237 18 198 
Other assets
1,108 11 3 3 376 2 
Contract liabilities(1,570)— (59)— — (1)
Deferred tax assets (liabilities)
(1,803)(193)(80)(72)— (28)
Finance lease liabilities
(86)— (24)— (82)— 
Debt assumed
(4,299)— — — — — 
Other liabilities assumed
(1,972)(21)(35)(33)(386)(11)
Redeemable noncontrolling interest(122)— — — — — 
$16,036 $1,864 $830 $472 $18 $402 
The components of the purchase price and net assets acquired for 2019 acquisitions are as follows:
(In millions)Brammer BioOther
Purchase price
Cash paid
$1,710 $169 
Cash acquired
(36)— 
$1,674 $169 
Net assets acquired
Current assets
$52 $58 
Property, plant and equipment
147 102 
Definite-lived intangible assets:
Customer relationships
744 — 
Product technology
65 7 
Tradenames
7 — 
Goodwill
938 9 
Other assets
49 — 
Contract liabilities(110)— 
Deferred tax liabilities
(110)(6)
Other liabilities assumed
(108)(1)
$1,674 $169 
Business Acquisition, Pro Forma Information [Table Text Block]
The following unaudited pro forma information provides the effect of the company's 2021 acquisition of PPD as if the acquisition had occurred on January 1, 2020:
 Year Ended
 December 31,December 31,
(In millions)20212020
Revenues$44,886 $36,887 
Net income attributable to Thermo Fisher Scientific Inc.$7,369 $5,361 
v3.22.0.1
Revenue and Contract-related Balances (Tables)
 12 Months Ended
Dec. 31, 2021
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue [Table Text Block]
Disaggregated Revenues
Revenues by type are as follows:
(In millions)202120202019
Revenues
Consumables
$22,608 $18,527 $13,109 
Instruments
7,753 6,779 6,387 
Services
8,850 6,912 6,046 
Consolidated revenues
$39,211 $32,218 $25,542 
Revenues by geographic region based on customer location are as follows:
(In millions)202120202019
Revenues
North America
$19,659 $17,081 $12,896 
Europe
11,134 8,284 6,358 
Asia-Pacific
7,218 5,822 5,524 
Other regions
1,200 1,031 764 
Consolidated revenues
$39,211 $32,218 $25,542 
Contract with Customer, Asset and Liability [Table Text Block] Noncurrent contract assets are included within other assets in the accompanying balance sheet. Noncurrent contract liabilities are included within other long-term liabilities in the accompanying balance sheet. Contract asset and liability balances are as follows:
December 31,December 31,
(In millions)20212020
Current contract assets, net$968 $731 
Noncurrent contract assets, net9 11 
Current contract liabilities2,655 1,271 
Noncurrent contract liabilities1,238 763 
v3.22.0.1
Business Segment and Geographical Information (Tables)
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment [Table Text Block]
Business Segment Information
(In millions)202120202019
Revenues
Life Sciences Solutions
$15,631 $12,168 $6,856 
Analytical Instruments
6,069 5,124 5,522 
Specialty Diagnostics
5,659 5,343 3,718 
Laboratory Products and Biopharma Services
14,862 12,245 10,599 
Eliminations
(3,010)(2,662)(1,153)
Consolidated revenues
39,211 32,218 25,542 
Segment Income
Life Sciences Solutions
7,817 6,109 2,446 
Analytical Instruments
1,197 808 1,273 
Specialty Diagnostics
1,280 1,368 930 
Laboratory Products and Biopharma Services
1,844 1,271 1,324 
Subtotal reportable segments
12,138 9,556 5,973 
Cost of revenues charges
(8)(6)(17)
Selling, general and administrative (charges) credits
(144)10 (62)
Restructuring and other (costs) income
(197)(99)413 
Amortization of acquisition-related intangible assets
(1,761)(1,667)(1,713)
Consolidated operating income
10,028 7,794 4,594 
Interest income43 65 224 
Interest expense(536)(553)(676)
Other income/(expense)
(694)(76)(70)
Income before income taxes
$8,841 $7,230 $4,072 
Depreciation
Life Sciences Solutions
$197 $140 $130 
Analytical Instruments
83 76 75 
Specialty Diagnostics
128 100 67 
Laboratory Products and Biopharma Services
423 342 292 
Consolidated depreciation
$831 $658 $564 
Cost of revenues charges included in the above table consist of charges for the sale of inventories revalued at the date of acquisition and accelerated depreciation on fixed assets to estimated disposal value in connection with the consolidation of operations. Selling, general and administrative charges/credits included in the above table consist of third-party transaction/integration costs (including reimbursement thereof) related to recent/terminated acquisitions, charges/credits for changes in estimates of contingent acquisition consideration, and charges/credits related to product liability litigation.
(In millions)202120202019
Total assets
Life Sciences Solutions
$22,751 $20,209 $18,306 
Analytical Instruments
9,692 9,773 9,896 
Specialty Diagnostics
6,010 6,534 5,867 
Laboratory Products and Biopharma Services
52,639 22,711 21,761 
Corporate/other (a)
4,031 9,825 2,551 
Consolidated total assets
$95,123 $69,052 $58,381 
Capital expenditures
Life Sciences Solutions
$810 $392 $151 
Analytical Instruments
79 74 64 
Specialty Diagnostics
167 175 83 
Laboratory Products and Biopharma Services
1,327 772 554 
Corporate/other
140 61 74 
Consolidated capital expenditures
$2,523 $1,474 $926 
(a)Corporate assets consist primarily of cash and cash equivalents and property and equipment at the company's corporate offices.
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block] Business Segment Information
(In millions)202120202019
Revenues
Life Sciences Solutions
$15,631 $12,168 $6,856 
Analytical Instruments
6,069 5,124 5,522 
Specialty Diagnostics
5,659 5,343 3,718 
Laboratory Products and Biopharma Services
14,862 12,245 10,599 
Eliminations
(3,010)(2,662)(1,153)
Consolidated revenues
39,211 32,218 25,542 
Segment Income
Life Sciences Solutions
7,817 6,109 2,446 
Analytical Instruments
1,197 808 1,273 
Specialty Diagnostics
1,280 1,368 930 
Laboratory Products and Biopharma Services
1,844 1,271 1,324 
Subtotal reportable segments
12,138 9,556 5,973 
Cost of revenues charges
(8)(6)(17)
Selling, general and administrative (charges) credits
(144)10 (62)
Restructuring and other (costs) income
(197)(99)413 
Amortization of acquisition-related intangible assets
(1,761)(1,667)(1,713)
Consolidated operating income
10,028 7,794 4,594 
Interest income43 65 224 
Interest expense(536)(553)(676)
Other income/(expense)
(694)(76)(70)
Income before income taxes
$8,841 $7,230 $4,072 
Depreciation
Life Sciences Solutions
$197 $140 $130 
Analytical Instruments
83 76 75 
Specialty Diagnostics
128 100 67 
Laboratory Products and Biopharma Services
423 342 292 
Consolidated depreciation
$831 $658 $564 
Cost of revenues charges included in the above table consist of charges for the sale of inventories revalued at the date of acquisition and accelerated depreciation on fixed assets to estimated disposal value in connection with the consolidation of operations. Selling, general and administrative charges/credits included in the above table consist of third-party transaction/integration costs (including reimbursement thereof) related to recent/terminated acquisitions, charges/credits for changes in estimates of contingent acquisition consideration, and charges/credits related to product liability litigation.
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]
Geographical Information
(In millions)202120202019
Revenues (b)
United States
$18,907 $16,435 $12,366 
China
3,444 2,797 2,752 
Other
16,860 12,986 10,424 
Consolidated revenues
$39,211 $32,218 $25,542 
Long-lived Assets (c)
United States
$5,578 $3,686 $3,099 
Other
4,286 3,001 2,349 
Consolidated long-lived assets
$9,864 $6,687 $5,448 
(b)Revenues are attributed to countries based on customer location.
(c)Includes property, plant and equipment, net, and operating lease ROU assets.
v3.22.0.1
Stockbased Compensation Expense (Tables)
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
The weighted average assumptions used in the Black-Scholes option pricing model are as follows: 
202120202019
Expected stock price volatility
26 %22 %21 %
Risk free interest rate
0.8 %1.1 %2.4 %
Expected life of options (years)
4.34.34.3
Expected annual dividend
0.2 %0.3 %0.3 %
Share-based Payment Arrangement, Option, Activity [Table Text Block] A summary of the company’s option activity for the year ended December 31, 2021 is presented below:
Shares
(in millions)		Weighted average exercise priceWeighted average remaining contractual term
(in years)		Aggregate intrinsic
value
(in millions)
Outstanding at December 31, 2020
5.9 $221.22 
Granted
1.5 552.26 
Issued in connection with an acquisition
0.2 492.35 
Exercised
(1.4)183.63 
Canceled/expired
(0.2)341.83 
Outstanding at December 31, 2021
6.0 $319.95 4.5$2,094 
Vested and unvested expected to vest at December 31, 2021
5.7 $306.64 4.3$2,035 
Exercisable at December 31, 2021
2.8 $193.39 2.9$1,307 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable [Table Text Block] A summary of the company’s option activity for the year ended December 31, 2021 is presented below:
Shares
(in millions)		Weighted average exercise priceWeighted average remaining contractual term
(in years)		Aggregate intrinsic
value
(in millions)
Outstanding at December 31, 2020
5.9 $221.22 
Granted
1.5 552.26 
Issued in connection with an acquisition
0.2 492.35 
Exercised
(1.4)183.63 
Canceled/expired
(0.2)341.83 
Outstanding at December 31, 2021
6.0 $319.95 4.5$2,094 
Vested and unvested expected to vest at December 31, 2021
5.7 $306.64 4.3$2,035 
Exercisable at December 31, 2021
2.8 $193.39 2.9$1,307 
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] A summary of the company’s restricted unit activity for the year ended December 31, 2021 is presented below:
 Units
(in millions)		Weighted
average
grant-date
fair value
Unvested at December 31, 2020
0.8 $276.74 
Granted
0.4 444.61 
Issued in connection with an acquisition
0.2 628.71 
Vested
(0.5)295.70 
Forfeited
(0.1)326.90 
Unvested at December 31, 2021
0.8 $425.39 
v3.22.0.1
Pension and Other Postretirement Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2021
Retirement Benefits [Abstract]  
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan [Table Text Block] The following table provides a reconciliation of benefit obligations and plan assets of the company’s domestic and non-U.S. pension plans:
 Domestic pension
 benefits		Non-U.S. pension
 benefits
(In millions)2021202020212020
Change in projected benefit obligations
Benefit obligation at beginning of year
$1,302 $1,302 $1,486 $1,303 
Acquisitions
— — 170 — 
Service costs
— — 27 24 
Interest costs
23 35 11 18 
Settlements
— — (7)(38)
Plan participants' contributions
— — 6 5 
Actuarial (gains) losses
20 44 (57)119 
Benefits paid
(85)(79)(30)(26)
Currency translation and other
— — (54)81 
Benefit obligation at end of year
$1,260 $1,302 $1,552 $1,486 
Change in fair value of plan assets
Fair value of plan assets at beginning of year
$1,267 $1,201 $1,160 $986 
Acquisitions— — 158 — 
Actual return on plan assets
37 138 14 92 
Employer contribution
7 7 27 87 
Settlements
— — (7)(38)
Plan participants' contributions
— — 6 5 
Benefits paid
(85)(79)(30)(26)
Currency translation and other
— — (26)54 
Fair value of plan assets at end of year$1,226 $1,267 $1,302 $1,160 
Funded status
$(34)$(35)$(250)$(326)
Accumulated benefit obligation
$1,260 $1,302 $1,475 $1,417 
Amounts recognized in balance sheet
Noncurrent assets
$32 $38 $205 $157 
Current liability
(7)(8)(10)(9)
Noncurrent liabilities
(59)(65)(445)(474)
Net amount recognized
$(34)$(35)$(250)$(326)
Amounts recognized in accumulated other comprehensive items
Net actuarial loss
$157 $142 $167 $242 
Prior service credits
— — (3)(2)
Net amount recognized
$157 $142 $164 $240 
Defined Benefit Plan, Assumptions [Table Text Block]
The actuarial assumptions used to compute the funded status for the plans are based upon information available as of December 31, 2021 and 2020 and are as follows:
 Domestic pension
 benefits		Non-U.S. pension
 benefits
 2021202020212020
Weighted average assumptions used to determine projected benefit obligations
Discount rate for determining benefit obligation
2.70 %2.33 %1.45 %0.95 %
Interest crediting rate for cash balance plans
2.58 %2.16 %1.25 %1.25 %
Average rate of increase in employee compensation
N/AN/A2.73 %2.30 %
The actuarial assumptions used to compute the net periodic pension benefit cost (income) are based upon information available as of the beginning of the year, as presented in the following table:
 Domestic pension benefitsNon-U.S. pension benefits
 202120202019202120202019
Weighted average assumptions used to determine net benefit cost (income)
Discount rate - service cost
N/AN/AN/A0.65 %1.21 %1.97 %
Discount rate - interest cost
2.33 %3.13 %4.22 %0.80 %1.44 %2.06 %
Average rate of increase in employee compensation
N/AN/AN/A2.30 %2.27 %2.47 %
Expected long-term rate of return on assets
4.25 %5.00 %5.76 %2.02 %2.33 %3.25 %
Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess of Plan Assets [Table Text Block] The projected benefit obligation and fair value of plan assets for the company’s qualified and non-qualified pension plans with projected benefit obligations in excess of plan assets are as follows:
 Pension plans
(In millions)20212020
Pension plans with projected benefit obligations in excess of plan assets
Projected benefit obligation
$2,010 $2,047 
Fair value of plan assets
1,521 1,529 
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Table Text Block] The accumulated benefit obligation and fair value of plan assets for the company's qualified and non-qualified pension plans with accumulated benefit obligations in excess of plan assets are as follows:
 Pension plans
(In millions)20212020
Pension plans with accumulated benefit obligations in excess of plan assets
Accumulated benefit obligation
$1,937 $1,976 
Fair value of plan assets
1,521 1,526 
Schedule of Net Benefit Costs [Table Text Block] The net periodic pension benefit cost (income) includes the following components:
 Domestic pension benefitsNon-U.S. pension benefits
(In millions)202120202019202120202019
Components of net benefit cost (income)
Service cost
$— $— $— $27 $24 $23 
Interest cost on benefit obligation
23 35 45 11 18 24 
Expected return on plan assets
(40)(47)(55)(19)(19)(30)
Amortization of actuarial net loss
7 6 2 12 10 6 
Amortization of prior service benefit
— — — — (1)(1)
Settlement/curtailment loss
— — — — 8 4 
Net periodic benefit cost (income)
$(10)$(6)$(8)$31 $40 $26 
Schedule of Expected Benefit Payments [Table Text Block] Estimated future benefit payments during the next five years and in the aggregate for the five fiscal years thereafter, are as follows:
(In millions)Domestic
pension
benefits		Non-U.S.
pension
benefits
Expected benefit payments
2022 $93 $45 
2023 89 45 
2024 88 49 
2025 86 52 
2026 84 56 
2027-2031368 307 
Schedule of Allocation of Plan Assets [Table Text Block] The fair values of the company’s plan assets at December 31, 2021 and 2020, by asset category are as follows:
 December 31,Quoted
prices in
active
markets		Significant
other
observable
inputs		Significant
unobservable
inputs		Not subject to leveling (a)
(In millions)2021(Level 1)(Level 2)(Level 3)
Domestic pension plan assets
U.S. equity funds
$124 $— $— $— $124 
International equity funds
117 — — — 117 
Fixed income funds
966 — — — 966 
Money market funds
19 — — — 19 
Total domestic pension plans
$1,226 $— $— $— $1,226 
Non-U.S. pension plan assets
Equity funds
$17 $— $— $— $17 
Fixed income funds
651 — — — 651 
Hedge funds
3 — — — 3 
Multi-asset funds
73 — — — 73 
Derivative funds
253 — — — 253 
Alternative investments
1 — — — 1 
Insurance contracts
295 — 295 — — 
Cash / money market funds
9 5 — — 4 
Total non-U.S. pension plans
$1,302 $5 $295 $— $1,002 
(a) Investments measured at the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.
 December 31,Quoted
prices in
active
markets		Significant
other
observable
inputs		Significant
unobservable
inputs		Not subject to leveling (a)
(In millions)2020(Level 1)(Level 2)(Level 3)
Domestic pension plan assets
U.S. equity funds
$125 $— $— $— $125 
International equity funds
126 — — — 126 
Fixed income funds
1,001 — — — 1,001 
Money market funds
15 — — — 15 
Total domestic pension plans$1,267 $— $— $— $1,267 
Non-U.S. pension plan assets
Equity funds
$74 $— $— $— $74 
Fixed income funds
510 — — — 510 
Hedge funds
59 — — — 59 
Multi-asset funds
45 — — — 45 
Derivative funds
149 — — — 149 
Alternative investments
6 — — — 6 
Insurance contracts
262 — 262 — — 
Cash / money market funds
55 7 — — 48 
Total non-U.S. pension plans$1,160 $7 $262 $— $891 
(a) Investments measured at the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.
v3.22.0.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2021
Income Tax Disclosure [Abstract]  
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] The components of income before provision for income taxes are as follows:
(In millions)202120202019
U.S.$3,340 $4,762 $2,280 
Non-U.S.5,501 2,468 1,792 
Income before income taxes
$8,841 $7,230 $4,072 
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] The components of the provision for income taxes are as follows:
(In millions)202120202019
Current income tax provision
Federal$446 $521 $267 
Non-U.S.1,148 423 544 
State160 175 62 
1,754 1,119 873 
Deferred income tax provision (benefit)
Federal$(227)$(237)$(222)
Non-U.S.(399)(18)(252)
State(19)(14)(25)
 (645)(269)(499)
Provision for income taxes
$1,109 $850 $374 
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] The provision for income taxes in the accompanying statement of income differs from the provision calculated by applying the statutory federal income tax rate to income before income taxes due to the following:
(In millions)202120202019
Statutory federal income tax rate
21 %21 %21 %
Provision for income taxes at statutory rate
$1,857 $1,518 $855 
Increases (decreases) resulting from:
Foreign rate differential
(255)(223)(204)
Income tax credits
(315)(335)(213)
Global intangible low-taxed income
76 86 92 
Foreign-derived intangible income
(119)(156)(111)
Excess tax benefits from stock options and restricted stock units
(124)(114)(80)
Provision for (reversal of) tax reserves, net
(17)(26)62 
Intra-entity transfers
(284)— (79)
Foreign exchange loss on inter-company debt refinancing
— (47)(62)
Domestication transaction— (263)— 
Valuation allowance
36 379 (4)
Withholding taxes
164 115 38 
Basis difference on disposal of business
— — 73 
Tax return reassessments and settlements
1 (196)(6)
State income taxes, net of federal tax82 147 22 
Other, net
7 (35)(9)
Provision for income taxes
$1,109 $850 $374 
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
Net deferred tax asset (liability) in the accompanying balance sheet consists of the following:
(In millions)20212020
Deferred tax asset (liability)
Depreciation and amortization
$(4,687)$(2,962)
Net operating loss and credit carryforwards
1,652 1,668 
Reserves and accruals
162 164 
Accrued compensation
318 253 
Inventory basis difference
181 112 
Deferred interest295 227 
Unrealized (gains) losses on hedging instruments
(33)242 
Other, net
251 124 
Deferred tax liabilities, net before valuation allowance
(1,861)(172)
Less: Valuation allowance
968 933 
Deferred tax liabilities, net
$(2,829)$(1,105)
The company estimates the degree to which tax assets and loss and credit carryforwards will result in a benefit based on expected profitability by tax jurisdiction and provides a valuation allowance for tax assets and loss and credit carryforwards that it believes will more likely than not expire unutilized. At December 31, 2021, all of the company’s valuation allowance relates to deferred tax assets, primarily net operating losses and disallowed interest expense carryforward, for which any subsequently recognized tax benefits will reduce income tax expense.
The changes in the valuation allowance are as follows:
 Year Ended December 31,
(In millions)202120202019
Beginning balance
$933 $408 $471 
Additions (reductions) charged to income tax provision, net
24 514 (27)
Additions due to acquisitions
30 — — 
Reduction due to a divestiture
— — (33)
Currency translation and other
(19)11 (3)
Ending balance$968 $933 $408 
Summary of Income Tax Contingencies [Table Text Block] A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows:
(In millions)202120202019
Beginning balance
$1,091 $1,552 $1,442 
Additions due to acquisitions
26 — — 
Additions for tax positions of current year
32 8 53 
Additions for tax positions of prior years
60 — 69 
Reductions for tax positions of prior years
(5)(296)(7)
Closure of tax years
(27)— — 
Settlements
(53)(173)(5)
Ending balance
$1,124 $1,091 $1,552 
v3.22.0.1
Earnings per Share (Tables)
 12 Months Ended
Dec. 31, 2021
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
(In millions except per share amounts)202120202019
Net income attributable to Thermo Fisher Scientific Inc.
$7,725 $6,375 $3,696 
Basic weighted average shares
394 396 400 
Plus effect of: stock options and restricted stock units
3 3 3 
Diluted weighted average shares
397 399 403 
Basic earnings per share
$19.62 $16.09 $9.24 
Diluted earnings per share
$19.46 $15.96 $9.17 
Antidilutive stock options excluded from diluted weighted average shares
1 1 1 
v3.22.0.1
Debt and Other Financing Arrangements (Tables)
 12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Schedule of Debt [Table Text Block]
Effective interest rate at December 31,December 31,December 31,
(Dollars in millions)202120212020
Commercial Paper0.01 %$2,522 $— 
2.15% 7-Year Senior Notes, Due 7/21/2022 (euro-denominated)
— 611 
3.00% 7-Year Senior Notes, Due 4/15/2023
— 1,000 
Floating Rate (SOFR + 0.35%) 1.5-Year Senior Notes, Due 4/18/2023
1,000 — 
Floating Rate (SOFR + 0.39%) 2-Year Senior Notes, Due 10/18/2023
500 — 
0.797% 2-Year Senior Notes, Due 10/18/2023
1.03 %1,350 — 
Floating Rate (EURIBOR + 0.20%) 2-Year Senior Notes Due 11/18/2023 (euro-denominated)
0.00 %1,933 — 
0.000% 2-Year Senior Notes Due 11/18/2023 (euro-denominated)
0.06 %625 — 
4.15% 10-Year Senior Notes, Due 2/1/2024
— 1,000 
0.75% 8-Year Senior Notes, Due 9/12/2024 (euro-denominated)
0.94 %1,137 1,222 
1.215% 3-Year Senior Notes, Due 10/18/2024
1.42 %2,500 — 
Floating Rate (SOFR + 0.53%) 3-Year Senior Notes, Due 10/18/2024
500 — 
0.125% 5.5-Year Senior Notes, Due 3/1/2025 (euro-denominated)
0.41 %910 977 
4.133% 5-Year Senior Notes, Due 3/25/2025
— 1,100 
2.00% 10-Year Senior Notes, Due 4/15/2025 (euro-denominated)
2.10 %728 782 
0.000% 4-Year Senior Notes Due 11/18/2025 (euro-denominated)
0.16 %625 — 
3.65% 10-Year Senior Notes, Due 12/15/2025
3.77 %350 350 
1.40% 8.5-Year Senior Notes, Due 1/23/2026 (euro-denominated)
1.53 %796 855 
2.95% 10-Year Senior Notes, Due 9/19/2026
— 1,200 
Effective interest rate at December 31,December 31,December 31,
(Dollars in millions)202120212020
1.45% 10-Year Senior Notes, Due 3/16/2027 (euro-denominated)
1.66 %568 611 
1.75% 7-Year Senior Notes, Due 4/15/2027 (euro-denominated)
1.97 %682 733 
3.20% 10-Year Senior Notes, Due 8/15/2027
— 750 
0.50% 8.5-Year Senior Notes, Due 3/1/2028 (euro-denominated)
0.77 %910 977 
1.375% 12-Year Senior Notes, Due 9/12/2028 (euro-denominated)
1.46 %682 733 
1.750% 7-Year Senior Notes, Due 10/15/2028
1.89 %700 — 
1.95% 12-Year Senior Notes, Due 7/24/2029 (euro-denominated)
2.08 %796 855 
2.60% 10-Year Senior Notes, Due 10/1/2029
2.74 %900 900 
4.497% 10-Year Senior Notes, Due 3/25/2030
— 1,100 
0.80% 9-Year Senior Notes, Due 10/18/2030 (euro-denominated)
0.89 %1,990 — 
0.875% 12-Year Senior Notes, Due 10/1/2031 (euro-denominated)
1.13 %1,023 1,099 
2.00% 10-Year Senior Notes, Due 10/15/2031
2.23 %1,200 — 
2.375% 12-Year Senior Notes, Due 4/15/2032 (euro-denominated)
2.55 %682 733 
1.125% 12-Year Senior Notes, Due 10/18/2033 (euro-denominated)
1.21 %1,706 — 
2.875% 20-Year Senior Notes, Due 7/24/2037 (euro-denominated)
2.94 %796 855 
1.50% 20-Year Senior Notes, Due 10/1/2039 (euro-denominated)
1.73 %1,023 1,099 
2.80% 20-Year Senior Notes, Due 10/15/2041
2.90 %1,200 — 
1.625% 20-Year Senior Notes, Due 10/18/2041 (euro-denominated)
1.78 %1,421 — 
5.30% 30-Year Senior Notes, Due 2/1/2044
5.37 %400 400 
4.10% 30-Year Senior Notes, Due 8/15/2047
4.23 %750 750 
1.875% 30-Year Senior Notes, Due 10/1/2049 (euro-denominated)
1.98 %1,137 1,222 
2.00% 30-Year Senior Notes, Due 10/18/2051 (euro-denominated)
2.07 %853 — 
Other 76 5 
Total borrowings at par value
34,971 21,919 
Fair value hedge accounting adjustments
— 25 
Unamortized discount
(117)(102)
Unamortized debt issuance costs
(184)(114)
Total borrowings at carrying value
34,670 21,728 
Finance lease liabilities
200 7 
Less: Short-term obligations and current maturities
2,537 2,628 
Long-term obligations$32,333 $19,107 
SOFR - Secured Overnight Financing Rate
EURIBOR - Euro Interbank Offered Rate
Schedule of Maturities of Long-term Debt [Table Text Block] As of December 31, 2021, the annual repayment requirements for debt obligations are as follows:
(In millions)BorrowingsFinance Lease Liabilities
2022 $2,522 $15 
2023 5,396 12 
2024 4,138 12 
2025 2,610 12 
2026 797 12 
2027 and thereafter19,508 137 
$34,971 $200 
v3.22.0.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Lease, Cost [Table Text Block] As a lessee, the consolidated financial statements include the following relating to operating leases:
(In millions)202120202019
Balance sheet
ROU assets$1,531 $775 
Operating lease liabilities - current266 184 
Operating lease liabilities - noncurrent1,203 626 
Statement of income
Operating lease costs
$254 $224 $208 
Variable lease costs
66 49 41 
Statement of cash flows
Cash used in operating activities for payments of amounts included in the measurement of operating lease liabilities$288 $222 $208 
Operating lease ROU assets obtained in exchange for new operating lease liabilities293 202 205 
Weighted average at end of year
Remaining operating lease term9.9 years6.3 years6.2 years
Discount rate2.6 %3.4 %4.0 %
Lessee, Operating Lease, Liability, Maturity [Table Text Block] As of December 31, 2021, future payments of operating lease liabilities are as follows:
(In millions)
2022 $303 
2023 248 
2024 193 
2025 144 
2026 120 
2027 and thereafter650 
Total lease payments1,658 
Less: imputed interest
189 
Total operating lease liability$1,469 
v3.22.0.1
Comprehensive Income and Shareholders Equity (Tables)
 12 Months Ended
Dec. 31, 2021
Stockholders' Equity Note [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] Changes in each component of accumulated other comprehensive items, net of tax are as follows:
(In millions)Currency
translation
adjustment		Unrealized
losses on
hedging
instruments		Pension and
other
postretirement
benefit
liability
adjustment		Total
Balance at December 31, 2020$(2,438)$(91)$(278)$(2,807)
Other comprehensive items before reclassifications
373 — 36 409 
Amounts reclassified from accumulated other comprehensive items
— 56 13 69 
Net other comprehensive items
373 56 49 478 
Balance at December 31, 2021$(2,065)$(35)$(229)$(2,329)
v3.22.0.1
Fair Value Measurements and Fair Value of Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2021
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, 2021 and December 31, 2020:
December 31,Quoted
prices in
active
markets		Significant
other
observable
inputs		Significant
unobservable
inputs
(In millions)2021(Level 1)(Level 2)(Level 3)
Assets
Cash equivalents
$2,210 $2,210 $— $— 
Investments
298 298 — — 
Warrants
15 — 15 — 
Insurance contracts
181 — 181 — 
Derivative contracts
36 — 36 — 
Total assets
$2,740 $2,508 $232 $— 
Liabilities
Derivative contracts
$1 $— $1 $— 
Contingent consideration
317 — — 317 
Total liabilities
$318 $— $1 $317 
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
21 21 — — 
Warrants
7 — 7 — 
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 
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 (such as likelihood of achieving production or revenue milestones, as well as changes in the fair values of the investments underlying a recapitalization investment portfolio), of the contingent consideration.
(In millions)20212020
Contingent consideration
Beginning balance
$70 $55 
Acquisitions (including assumed balances)
403 28 
Payments
(109)(4)
Changes in fair value included in earnings
(47)(9)
Ending balance
$317 $70 
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] The following table provides the aggregate notional value of outstanding derivative contracts.
December 31,December 31,
(In millions)20212020
Notional amount
Interest rate swaps - fair value hedges$— $1,000 
Cross-currency interest rate swaps - designated as net investment hedges
900 900 
Currency exchange contracts
2,149 5,206 
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)2021202020212020
Derivatives designated as hedging instruments
Interest rate swaps (a)
$— $25 $— $— 
Cross-currency interest rate swaps (a)
25 — — 46 
Derivatives not designated as hedging instruments
Currency exchange contracts (b)
11 3 1 86 
Total derivatives
$36 $28 $1 $132 
(a)The fair values of the interest rate swaps and cross-currency interest rate swaps are included in the accompanying balance sheet under the caption other assets or other long-term liabilities.
(b)The fair value of the currency exchange contracts is included in the accompanying balance sheet under the captions other current assets or other accrued expenses.
The following amounts related to cumulative basis adjustments for fair value hedges were included in the accompanying balance sheet under the caption long-term obligations:
Carrying amount of the hedged liability Cumulative amount of fair value hedging adjustment - increase (decrease) included in carrying amount of liability
December 31,December 31,December 31,December 31,
(In millions)2021202020212020
Long-term obligations$— $1,020 $— $25 
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]
 Gain (loss) recognized
(In millions)20212020
Fair value hedging relationships
Interest rate swaps
Hedged long-term obligations - included in other income/(expense)
$25 $(38)
Derivatives designated as hedging instruments - included in other income/(expense)
(3)38 
Derivatives designated as cash flow hedges
Interest rate swaps
Included in unrealized losses on hedging instruments within other comprehensive items
— (85)
Amount reclassified from accumulated other comprehensive items to other income/(expense)
(73)(59)
Financial instruments designated as net investment hedges
Foreign currency-denominated debt
Included in currency translation adjustment within other comprehensive items
922 (873)
Cross-currency interest rate swaps
Included in currency translation adjustment within other comprehensive items
71 (79)
Included in other income/(expense)
8 11 
Derivatives not designated as hedging instruments
Currency exchange contracts
Included in cost of product revenues
12 (17)
Included in other income/(expense)
162 (81)
Cross-currency interest rate swaps
Included in other income/(expense)
— (9)
Fair Value, by Balance Sheet Grouping [Table Text Block] The carrying value and fair value of the company’s debt instruments are as follows:
December 31, 2021December 31, 2020
CarryingFairCarryingFair
(In millions)valuevaluevaluevalue
Senior notes
$32,072 $33,449 $21,723 $24,653 
Commercial paper
2,522 2,522 — — 
Other
76 76 5 5 
$34,670 $36,047 $21,728 $24,658 
The fair value of debt instruments 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 instruments are as follows:
December 31, 2021December 31, 2020
CarryingFairCarryingFair
(In millions)valuevaluevaluevalue
Senior notes
$32,072 $33,449 $21,723 $24,653 
Commercial paper
2,522 2,522 — — 
Other
76 76 5 5 
$34,670 $36,047 $21,728 $24,658 
The fair value of debt instruments 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.
v3.22.0.1
Supplemental Cash Flow Information (Tables)
 12 Months Ended
Dec. 31, 2021
Supplemental Cash Flow Information [Abstract]  
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]
(In millions)202120202019
Cash paid for:
Interest
$555 $471 $790 
Income taxes
2,182 1,324 896 
Non-cash investing and financing activities
Acquired but unpaid property, plant and equipment
379 347 150 
Fair value of equity awards exchanged43 — — 
Fair value of acquisition contingent consideration183 — — 
Finance lease ROU assets obtained in exchange for new finance lease liabilities15 5 1 
Declared but unpaid dividends
104 89 77 
Issuance of stock upon vesting of restricted stock units
265 217 182 
Restrictions on Cash and Cash Equivalents [Table Text Block] Cash, cash equivalents and restricted cash is included in the consolidated balance sheet as follows:
 December 31,December 31,
(In millions)20212020
Cash and cash equivalents$4,477 $10,325 
Restricted cash included in other current assets13 10 
Restricted cash included in other assets1 1 
Cash, cash equivalents and restricted cash$4,491 $10,336 
v3.22.0.1
Restructuring and Other Costs, Net (Tables)
 12 Months Ended
Dec. 31, 2021
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring and Related Costs [Table Text Block] Restructuring and other costs (income) by segment are as follows:
(In millions)202120202019
Life Sciences Solutions
$129 $34 $24 
Analytical Instruments
6 26 14 
Specialty Diagnostics
18 9 (471)
Laboratory Products and Biopharma Services
35 23 17 
Corporate
9 7 3 
$197 $99 $(413)
Schedule of Restructuring Reserve by Type of Cost [Table Text Block]
The following table summarizes the changes in the company’s accrued restructuring balance. Other amounts reported as restructuring and other costs in the accompanying statement of income have been summarized in the notes to the table. Accrued restructuring costs are included in other accrued expenses in the accompanying balance sheet.
(In millions)Total (a)
Balance at December 31, 2018$80 
Cumulative effect of accounting change (b)(28)
Net restructuring charges incurred in 2019 (c)
52 
Payments
(69)
Currency translation
(1)
Balance at December 31, 201934 
Net restructuring charges incurred in 2020 (d)
51 
Payments
(57)
Currency translation
(7)
Balance at December 31, 202021 
Net restructuring charges incurred in 2021 (e)
37 
Payments
(40)
Currency translation
(1)
Balance at December 31, 2021$17 
(a)The movements in the restructuring liability principally consist of severance and other costs such as relocation and moving expenses associated with facility consolidations, as well as employee retention costs which are accrued ratably over the period through which employees must work to qualify for a payment.
(b)Impact of adopting new lease accounting guidance on January 1, 2019.
(c)Excludes $465 million of net charges, principally $482 million of net gain on the sale of businesses recorded in the Specialty Diagnostics segment, partially offset by $17 million of other restructuring charges, net, across the company’s segments primarily for the write-off of acquired technology, pre-acquisition litigation-related matters, and compensation due to employees at businesses at the date of acquisition.
(d)Excludes $48 million of charges, principally $32 million for impairment of acquired technology in the Life Sciences Solutions segment resulting from a reduction in expected cash flows and, to a lesser extent, charges across the company’s segments for fixed asset writedowns and costs associated with environmental remediation at abandoned/previously owned facilities.
(e)Excludes $160 million of charges, principally $122 million for impairments of an acquired technology asset and a tradename asset in the Life Sciences Solutions and Laboratory Products and Biopharma Services segment, principally resulting from a reduction in expected cash flows, and $35 million of charges for compensation contractually due to employees of acquired businesses at the date of acquisition in the Life Sciences Solutions and Laboratory Products and Biopharma Services segments.
v3.22.0.1
Inventories (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Oct. 02, 2021
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Inventory Disclosure [Abstract]        
Raw materials   $ 1,922 $ 1,305  
Work in process   676 540  
Finished goods   2,453 2,184  
Inventories   5,051 4,029  
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Inventories   5,051 4,029  
Value of inventories maintained using the LIFO method     274  
Excess of estimated replacement cost over stated LIFO value     49  
Product [Member]        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Cost of Goods and Services Sold   $ (13,594) $ (11,407) $ (10,037)
Change in Accounting Principle, Other        
Inventory Disclosure [Abstract]        
Inventories $ 33      
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Percentage of LIFO Inventory 5.00%      
Inventories $ 33      
Change in Accounting Principle, Other | Product [Member]        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Cost of Goods and Services Sold 33      
Change in Accounting Principle, Other | Laboratory Products and Biopharma Services [Member]        
Inventory Disclosure [Abstract]        
Inventories 20      
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Inventories 20      
Change in Accounting Principle, Other | Laboratory Products and Biopharma Services [Member] | Product [Member]        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Cost of Goods and Services Sold 20      
Change in Accounting Principle, Other | Specialty Diagnostics [Member]        
Inventory Disclosure [Abstract]        
Inventories 13      
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Inventories 13      
Change in Accounting Principle, Other | Specialty Diagnostics [Member] | Product [Member]        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Cost of Goods and Services Sold $ 13      
v3.22.0.1
Property, Plant and Equipment (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Property, Plant and Equipment [Line Items]    
Property, plant and equipment, at cost $ 12,593 $ 9,577
Less: Accumulated depreciation and amortization 4,260 3,665
Property, plant and equipment, net 8,333 5,912
Land [Member]    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment, at cost 431 410
Buildings and Improvements [Member]    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment, at cost $ 2,575 2,192
Buildings and Improvements [Member] | Minimum [Member]    
Property, Plant and Equipment [Line Items]    
Property, Plant and Equipment, Useful Life 25 years  
Buildings and Improvements [Member] | Maximum [Member]    
Property, Plant and Equipment [Line Items]    
Property, Plant and Equipment, Useful Life 40 years  
Machinery, Equipment and Leasehold Improvements [Member]    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment, at cost $ 9,587 $ 6,975
Machinery and Equipment [Member] | Minimum [Member]    
Property, Plant and Equipment [Line Items]    
Property, Plant and Equipment, Useful Life 3 years  
Machinery and Equipment [Member] | Maximum [Member]    
Property, Plant and Equipment [Line Items]    
Property, Plant and Equipment, Useful Life 10 years  
v3.22.0.1
Acquisition-related Intangible Assets (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Intangible Assets [Line Items]    
Definite-Lived Intangible Assets, Gross $ 31,625 $ 23,329
Accumulated Amortization (12,747) (11,879)
Definite-Lived Intangible Assets, Net 18,878 11,450
Acquisition-related Intangible Assets, Gross 32,860 24,564
Acquisition-related Intangible Assets, net of Accumulated Amortization 20,113 12,685
Finite-Lived Intangible Assets, Net, Future Amortization Expense [Abstract]    
2022  2,489  
2023  2,358  
2024  1,992  
2025  1,669  
2026  1,392  
2027 and thereafter 8,978  
Definite-Lived Intangible Assets, Net 18,878 11,450
Other Intangible Assets, Net $ 33 43
Maximum [Member]    
Intangible Assets [Line Items]    
Estimated Useful Life (in years) 20 years  
Tradenames [Member]    
Intangible Assets [Line Items]    
Indefinite-Lived Intangible Assets $ 1,235 1,235
Customer Relationships [Member]    
Intangible Assets [Line Items]    
Definite-Lived Intangible Assets, Gross 22,802 16,593
Accumulated Amortization (7,792) (7,450)
Definite-Lived Intangible Assets, Net 15,010 9,143
Finite-Lived Intangible Assets, Net, Future Amortization Expense [Abstract]    
Definite-Lived Intangible Assets, Net 15,010 9,143
Product Technology [Member]    
Intangible Assets [Line Items]    
Definite-Lived Intangible Assets, Gross 6,041 5,523
Accumulated Amortization (3,977) (3,532)
Definite-Lived Intangible Assets, Net 2,064 1,991
Finite-Lived Intangible Assets, Net, Future Amortization Expense [Abstract]    
Definite-Lived Intangible Assets, Net 2,064 1,991
Tradenames [Member]    
Intangible Assets [Line Items]    
Definite-Lived Intangible Assets, Gross 1,722 1,213
Accumulated Amortization (919) (897)
Definite-Lived Intangible Assets, Net 803 316
Finite-Lived Intangible Assets, Net, Future Amortization Expense [Abstract]    
Definite-Lived Intangible Assets, Net 803 $ 316
Backlog [Member]    
Intangible Assets [Line Items]    
Definite-Lived Intangible Assets, Gross 1,060  
Accumulated Amortization (59)  
Definite-Lived Intangible Assets, Net 1,001  
Finite-Lived Intangible Assets, Net, Future Amortization Expense [Abstract]    
Definite-Lived Intangible Assets, Net $ 1,001  
v3.22.0.1
Goodwill (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Goodwill [Roll Forward]    
Beginning balance $ 26,041 $ 25,714
Acquisitions 16,024 35
Currency translation (141) 292
Ending balance 41,924 26,041
Life Sciences Solutions [Member]    
Goodwill [Roll Forward]    
Beginning balance 8,590 8,544
Acquisitions 1,560 35
Currency translation (7) 11
Ending balance 10,143 8,590
Analytical Instruments [Member]    
Goodwill [Roll Forward]    
Beginning balance 5,079 4,928
Acquisitions 56  
Currency translation (92) 151
Ending balance 5,043 5,079
Specialty Diagnostics [Member]    
Goodwill [Roll Forward]    
Beginning balance 3,370 3,184
Acquisitions 8  
Currency translation (101) 186
Ending balance 3,277 3,370
Laboratory Products and Biopharma Services [Member]    
Goodwill [Roll Forward]    
Beginning balance 9,002 9,058
Acquisitions 14,400  
Currency translation 59 (56)
Ending balance $ 23,461 $ 9,002
v3.22.0.1
Additional Accounting Policy and Balance Sheet Disclosures (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Accounting Policies [Abstract]      
Equity Method Investments $ 576 $ 32  
Equity Securities, FV-NI, Noncurrent 217    
Cost Method Investments 22 28  
Alternative Investment 16 0  
Foreign Currency Transaction Gain (Loss), before Tax $ 25 $ 24 $ 52
PPD-SNBL K.K.      
Noncontrolling Interest [Line Items]      
Noncontrolling Interest, Ownership Percentage by Parent 60.00%    
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners 40.00%    
v3.22.0.1
Recent Accounting Pronouncements (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Jan. 01, 2020
Jan. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Accounts Receivable, less Allowances $ 7,977 $ 5,741    
Retained earnings $ 35,431 $ 28,116    
Accounting Standards Update 2016-02 [Member]        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Retained earnings       $ 4
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member]        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Accounts Receivable, less Allowances     $ (1)  
Retained earnings     $ (1)  
v3.22.0.1
Acquisitions Purchase Price (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 30, 2021
Dec. 08, 2021
Sep. 30, 2021
Feb. 25, 2021
Jan. 15, 2021
Apr. 30, 2019
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Purchase Price                  
Fair value of equity awards exchanged             $ 43    
Fair value of contingent consideration             $ 183    
Net Assets Acquired [Abstract]                  
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life (in years)             14 years   14 years
Payments to Acquire Businesses, Net of Cash Acquired             $ 19,395 $ 38 $ 1,843
Customer Relationships [Member]                  
Net Assets Acquired [Abstract]                  
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life (in years)             17 years   14 years
Product Technology [Member]                  
Net Assets Acquired [Abstract]                  
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life (in years)             11 years   13 years
Tradenames [Member]                  
Net Assets Acquired [Abstract]                  
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life (in years)             7 years   2 years
Backlog [Member]                  
Net Assets Acquired [Abstract]                  
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life (in years)             3 years    
PPD, Inc. [Member]                  
Purchase Price                  
Cash paid   $ 17,237              
Fair value of equity awards exchanged   43              
Cash acquired   (1,244)              
Total purchase price   16,036              
Net Assets Acquired [Abstract]                  
Current assets   2,510              
Property, plant and equipment   562              
Goodwill   13,781              
Other assets   1,108              
Contract liabilities   (1,570)              
Deferred tax liabilities   (1,803)              
Finance lease liabilities   (86)              
Debt assumed   (4,299)              
Other liabilities assumed   (1,972)              
Redeemable noncontrolling interest   (122)              
Total net assets acquired   16,036              
Payments to Acquire Businesses, Net of Cash Acquired   15,990              
PPD, Inc. [Member] | Customer Relationships [Member]                  
Net Assets Acquired [Abstract]                  
Definite-lived intangible assets   6,264              
PPD, Inc. [Member] | Tradenames [Member]                  
Net Assets Acquired [Abstract]                  
Definite-lived intangible assets   603              
PPD, Inc. [Member] | Backlog [Member]                  
Net Assets Acquired [Abstract]                  
Definite-lived intangible assets   $ 1,060              
PeproTech, Inc. [Member]                  
Purchase Price                  
Cash paid $ 1,947                
Cash acquired (83)                
Total purchase price 1,864                
Net Assets Acquired [Abstract]                  
Current assets 63                
Property, plant and equipment 18                
Goodwill 1,190                
Other assets 11                
Deferred tax liabilities (193)                
Other liabilities assumed (21)                
Total net assets acquired 1,864                
Payments to Acquire Businesses, Net of Cash Acquired 1,860                
PeproTech, Inc. [Member] | Customer Relationships [Member]                  
Net Assets Acquired [Abstract]                  
Definite-lived intangible assets 514                
PeproTech, Inc. [Member] | Product Technology [Member]                  
Net Assets Acquired [Abstract]                  
Definite-lived intangible assets $ 282                
European Viral Vector Manufacturing Business [Member]                  
Purchase Price                  
Cash paid         $ 848        
Cash acquired         (18)        
Total purchase price         830        
Net Assets Acquired [Abstract]                  
Current assets         39        
Property, plant and equipment         59        
Goodwill         600        
Other assets         3        
Contract liabilities         (59)        
Deferred tax liabilities         (80)        
Finance lease liabilities         (24)        
Other liabilities assumed         (35)        
Total net assets acquired         830        
Payments to Acquire Businesses, Net of Cash Acquired         830        
European Viral Vector Manufacturing Business [Member] | Customer Relationships [Member]                  
Net Assets Acquired [Abstract]                  
Definite-lived intangible assets         302        
European Viral Vector Manufacturing Business [Member] | Product Technology [Member]                  
Net Assets Acquired [Abstract]                  
Definite-lived intangible assets         $ 25        
Mesa Biotech [Member]                  
Purchase Price                  
Cash paid       $ 421          
Fair value of contingent consideration       65          
Cash acquired       (14)          
Total purchase price       472          
Net Assets Acquired [Abstract]                  
Current assets       54          
Property, plant and equipment       2          
Goodwill       237          
Other assets       3          
Deferred tax liabilities       (72)          
Other liabilities assumed       (33)          
Total net assets acquired       472          
Payments to Acquire Businesses, Net of Cash Acquired       407          
Mesa Biotech [Member] | Product Technology [Member]                  
Net Assets Acquired [Abstract]                  
Definite-lived intangible assets       279          
Mesa Biotech [Member] | Tradenames [Member]                  
Net Assets Acquired [Abstract]                  
Definite-lived intangible assets       $ 2          
Lengnau biologics manufacturing facility [Member]                  
Purchase Price                  
Cash paid     $ 17            
Fair value of contingent consideration     1            
Total purchase price     18            
Net Assets Acquired [Abstract]                  
Property, plant and equipment     92            
Goodwill     18            
Other assets     376            
Finance lease liabilities     (82)            
Other liabilities assumed     (386)            
Total net assets acquired     18            
Lessee, Lease Liability Payments Due     $ 555            
Brammer Bio [Member]                  
Purchase Price                  
Cash paid           $ 1,710      
Cash acquired           (36)      
Total purchase price           1,674      
Net Assets Acquired [Abstract]                  
Current assets           52      
Property, plant and equipment           147      
Goodwill           938      
Other assets           49      
Contract liabilities           (110)      
Deferred tax liabilities           (110)      
Other liabilities assumed           (108)      
Total net assets acquired           1,674      
Goodwill, Expected Tax Deductible Amount           405      
Brammer Bio [Member] | Customer Relationships [Member]                  
Net Assets Acquired [Abstract]                  
Definite-lived intangible assets           744      
Brammer Bio [Member] | Product Technology [Member]                  
Net Assets Acquired [Abstract]                  
Definite-lived intangible assets           65      
Brammer Bio [Member] | Tradenames [Member]                  
Net Assets Acquired [Abstract]                  
Definite-lived intangible assets           $ 7      
Other [Member]                  
Purchase Price                  
Cash paid             $ 298   $ 169
Fair value of contingent consideration             117    
Cash acquired             (13)    
Total purchase price             402 $ 63 169
Net Assets Acquired [Abstract]                  
Current assets             12   58
Property, plant and equipment             2   102
Goodwill             198   9
Other assets             2    
Contract liabilities             (1)    
Deferred tax liabilities             (28)   (6)
Other liabilities assumed             (11)   (1)
Total net assets acquired             402   169
Other [Member] | Customer Relationships [Member]                  
Net Assets Acquired [Abstract]                  
Definite-lived intangible assets             2    
Other [Member] | Product Technology [Member]                  
Net Assets Acquired [Abstract]                  
Definite-lived intangible assets             224   $ 7
Other [Member] | Tradenames [Member]                  
Net Assets Acquired [Abstract]                  
Definite-lived intangible assets             $ 2    
v3.22.0.1
Acquisition Pro Forma Results (Details) - PPD, Inc. [Member] - USD ($)
$ in Millions
 1 Months Ended 12 Months Ended
Dec. 31, 2021
Dec. 31, 2021
Dec. 31, 2020
Business Acquisition, Pro Forma Information [Abstract]      
Revenues   $ 44,886 $ 36,887
Net income attributable to Thermo Fisher Scientific Inc.   7,369 5,361
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual $ 378    
Business Combination, Pro Forma Information, Operating Income (Loss) of Acquiree since Acquisition Date, Actual $ (60)    
Non-recurring Pro Forma Adjustments, Transaction Costs [Member]      
Business Acquisition, Pro Forma Information [Abstract]      
Net income attributable to Thermo Fisher Scientific Inc.   $ 312 $ (197)
v3.22.0.1
Disposition (Details) - USD ($)
$ in Millions
 6 Months Ended 12 Months Ended
Jun. 28, 2019
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal   $ 0 $ 0 $ 482
Revenues   $ 39,211 $ 32,218 25,542
Anatomical Pathology business [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations [Member]        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Disposal Group, Including Discontinued Operation, Consideration $ 1,130      
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal       $ 478
Revenues $ 115      
v3.22.0.1
Revenue (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Disaggregation of Revenue [Line Items]      
Revenues $ 39,211 $ 32,218 $ 25,542
North America [Member]      
Disaggregation of Revenue [Line Items]      
Revenues 19,659 17,081 12,896
Europe [Member]      
Disaggregation of Revenue [Line Items]      
Revenues 11,134 8,284 6,358
Asia Pacific [Member]      
Disaggregation of Revenue [Line Items]      
Revenues 7,218 5,822 5,524
Other Regions [Member]      
Disaggregation of Revenue [Line Items]      
Revenues 1,200 1,031 764
Consumables [Member]      
Disaggregation of Revenue [Line Items]      
Revenues 22,608 18,527 13,109
Instruments [Member]      
Disaggregation of Revenue [Line Items]      
Revenues 7,753 6,779 6,387
Service [Member]      
Disaggregation of Revenue [Line Items]      
Revenues $ 8,850 $ 6,912 $ 6,046
v3.22.0.1
Revenue Performance Obligations (Details)
$ in Millions
Dec. 31, 2021
USD ($)
Revenue from Contract with Customer [Abstract]  
Revenue, Remaining Performance Obligation, Amount $ 28,300
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-12-31  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, Remaining Performance Obligation, Percentage 59.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period 12 months
v3.22.0.1
Contract Assets and Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]    
Contract assets, net $ 968 $ 731
Noncurrent contract assets, net 9 11
Contract liabilities 2,655 1,271
Noncurrent contract liabilities $ 1,238 $ 763
v3.22.0.1
Business Segment Information (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2021
USD ($)
Segment
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Segment Reporting Information [Line Items]      
Number of Reportable Segments | Segment 4    
Revenues $ 39,211 $ 32,218 $ 25,542
Restructuring and other (costs) income (197) (99) 413
Amortization of acquisition-related intangible assets (1,761) (1,667) (1,713)
Operating Income 10,028 7,794 4,594
Interest income 43 65 224
Interest expense (536) (553) (676)
Other income/(expense) (694) (76) (70)
Income before income taxes 8,841 7,230 4,072
Depreciation of property, plant and equipment 831 658 564
Total Assets 95,123 69,052 58,381
Capital Expenditures 2,523 1,474 926
Life Sciences Solutions [Member]      
Segment Reporting Information [Line Items]      
Restructuring and other (costs) income (129) (34) (24)
Total Assets 22,751 20,209 18,306
Capital Expenditures 810 392 151
Analytical Instruments [Member]      
Segment Reporting Information [Line Items]      
Restructuring and other (costs) income (6) (26) (14)
Total Assets 9,692 9,773 9,896
Capital Expenditures 79 74 64
Specialty Diagnostics [Member]      
Segment Reporting Information [Line Items]      
Restructuring and other (costs) income (18) (9) 471
Total Assets 6,010 6,534 5,867
Capital Expenditures 167 175 83
Laboratory Products and Biopharma Services [Member]      
Segment Reporting Information [Line Items]      
Restructuring and other (costs) income (35) (23) (17)
Total Assets 52,639 22,711 21,761
Capital Expenditures 1,327 772 554
Corporate and Other [Member]      
Segment Reporting Information [Line Items]      
Total Assets [1] 4,031 9,825 2,551
Capital Expenditures 140 61 74
Total Reportable Segments [Member]      
Segment Reporting Information [Line Items]      
Operating Income 12,138 9,556 5,973
Total Reportable Segments [Member] | Life Sciences Solutions [Member]      
Segment Reporting Information [Line Items]      
Revenues 15,631 12,168 6,856
Operating Income 7,817 6,109 2,446
Depreciation of property, plant and equipment 197 140 130
Total Reportable Segments [Member] | Analytical Instruments [Member]      
Segment Reporting Information [Line Items]      
Revenues 6,069 5,124 5,522
Operating Income 1,197 808 1,273
Depreciation of property, plant and equipment 83 76 75
Total Reportable Segments [Member] | Specialty Diagnostics [Member]      
Segment Reporting Information [Line Items]      
Revenues 5,659 5,343 3,718
Operating Income 1,280 1,368 930
Depreciation of property, plant and equipment 128 100 67
Total Reportable Segments [Member] | Laboratory Products and Biopharma Services [Member]      
Segment Reporting Information [Line Items]      
Revenues 14,862 12,245 10,599
Operating Income 1,844 1,271 1,324
Depreciation of property, plant and equipment 423 342 292
Intersegment Eliminations [Member]      
Segment Reporting Information [Line Items]      
Revenues (3,010) (2,662) (1,153)
Segment Reconciling Items [Member]      
Segment Reporting Information [Line Items]      
Cost of revenues charges (8) (6) (17)
Selling, general and administrative (charges) credits (144) 10 (62)
Restructuring and other (costs) income (197) (99) 413
Amortization of acquisition-related intangible assets $ (1,761) $ (1,667) $ (1,713)
[1] Corporate assets consist primarily of cash and cash equivalents and property and equipment at the company's corporate offices.
v3.22.0.1
Geographical Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]      
Revenues $ 39,211 $ 32,218 $ 25,542
Long-lived Assets [1] 9,864 6,687 5,448
United States      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Revenues [2] 18,907 16,435 12,366
Long-lived Assets [1] 5,578 3,686 3,099
China      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Revenues [2] 3,444 2,797 2,752
All Other Countries      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Revenues [2] 16,860 12,986 10,424
Long-lived Assets [1] $ 4,286 $ 3,001 $ 2,349
[1] Includes property, plant and equipment, net, and operating lease ROU assets.
[2] Revenues are attributed to countries based on customer location.
v3.22.0.1
Other Expense, Net (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]      
Loss on early extinguishment of debt $ (767) $ 0 $ (184)
Fees Associated with Short-term Financing Commitments 36 81  
Gain (Loss) on Sale of Investments 66 10 44
Payments of Financing Costs 36 51  
Interest Rate Swaps [Member] | Cash Flow Hedging [Member] | Other Expense [Member]      
Schedule of Equity Method Investments [Line Items]      
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax $ 65 $ 42  
Corporate Joint Venture [Member]      
Schedule of Equity Method Investments [Line Items]      
Gain (Loss) on Sale of Investments     28
Proceeds from Sale of Equity Method Investments     $ 42
v3.22.0.1
Stockbased Compensation, Stock Option Disclosures (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Expected Stock Price Volatility 26.00% 22.00% 21.00%
Risk Free Interest Rate 0.80% 1.10% 2.40%
Expected Life of Options (years) 4 years 3 months 18 days 4 years 3 months 18 days 4 years 3 months 18 days
Expected Annual Dividend 0.20% 0.30% 0.30%
Weighted Average Grant Date Fair Value of Options Granted in Period (in dollars per share) $ 123.97 $ 61.19 $ 53.37
Total Intrinsic Value of Options Exercised in Period $ 501 $ 457 $ 320
Options Outstanding [Roll Forward]      
Options Outstanding, Beginning Balance 5.9    
Granted 1.5    
Issued in connection with an acquisition 0.2    
Exercised (1.4)    
Canceled / Expired (0.2)    
Options Outstanding, Ending Balance 6.0 5.9  
Options, Additional Disclosures [Abstract]      
Options Outstanding, Weighted Average Exercise Price, Beginning of Period (in dollars per share) $ 221.22    
Grants in Period, Weighted Average Exercise Price (in dollars per share) 552.26    
Issued in Connection with an Acquisition in Period, Weighted Average Exercise Price (in dollars per share) 492.35    
Exercises in Period, Weighted Average Exercise Price (in dollars per share) 183.63    
Canceled / Expired in Period, Weighted Average Exercise Price (in dollars per share) 341.83    
Options Outstanding, Weighted Average Exercise Price, End of Period (in dollars per share) $ 319.95 $ 221.22  
Options Outstanding, Weighted Average Remaining Contractual Term 4 years 6 months    
Options Outstanding, Aggregate Intrinsic Value $ 2,094    
Options Vested and Unvested Expected to Vest 5.7    
Options Vested and Unvested Expected to Vest, Weighted Average Exercise Price (in dollars per share) $ 306.64    
Options Vested and Unvested Expected to Vest, Weighted Average Remaining Contractual Term 4 years 3 months 18 days    
Options Vested and Unvested Expected to Vest, Aggregate Intrinsic Value $ 2,035    
Options Exercisable 2.8    
Options Exercisable, Weighted Average Exercise Price (in dollars per share) $ 193.39    
Options Exercisable, Weighted Average Remaining Contractual Term 2 years 10 months 24 days    
Options Exercisable, Intrinsic Value $ 1,307    
Share-based Payment Arrangement, Option [Member]      
Options, Additional Disclosures [Abstract]      
Unrecognized Compensation Costs On Nonvested Awards $ 243    
Unrecognized Compensation Costs On Nonvested Awards, Weighted Average Period Of Recognition 2 years 10 months 24 days    
Minimum [Member] | Share-based Payment Arrangement, Option [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Award Requisite Service Period 3 years    
Option Term 7 years    
Maximum [Member] | Share-based Payment Arrangement, Option [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Award Requisite Service Period 5 years    
Option Term 10 years    
v3.22.0.1
Stockbased Compensation, Restricted Units Disclosures (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Unvested Restricted Units [Roll Forward]      
Unvested Restricted Units, Beginning Balance 0.8    
Granted 0.4    
Issued in connection with an acquisition 0.2    
Vested (0.5)    
Forfeited (0.1)    
Unvested Restricted Units, Ending Balance 0.8 0.8  
Restricted Units, Additional Disclosures [Abstract]      
Unvested Restricted Units, Weighted Average Grant Date Fair Value, Beginning Balance (in dollars per share) $ 276.74    
Granted, Weighted Average Grant Date Fair Value (in dollars per share) 444.61    
Issued in Connection with an Acquisition, Weighted Average Grant Date Fair Value (in dollars per share) 628.71    
Vested, Weighted Average Grant Date Fair Value (in dollars per share) 295.70    
Forfeited, Weighted Average Grant Date Fair Value (in dollars per share) 326.90    
Unvested Restricted Units, Weighted Average Grant Date Fair Value, Ending Balance (in dollars per share) $ 425.39 $ 276.74  
Fair Value of Units Vested $ 151 $ 126 $ 118
Restricted Stock Units (RSUs) [Member]      
Restricted Units, Additional Disclosures [Abstract]      
Unrecognized Compensation Costs On Nonvested Awards $ 250    
Unrecognized Compensation Costs On Nonvested Awards, Weighted Average Period Of Recognition 2 years 1 month 6 days    
Restricted Stock Units (RSUs) [Member] | Minimum [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Award Requisite Service Period 3 years    
Restricted Stock Units (RSUs) [Member] | Maximum [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Award Requisite Service Period 4 years    
v3.22.0.1
Employee Stock Purchase Plans (Details) - shares
shares in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]      
Purchase Price (% of Market Price on Purchase Date) 95.00%    
Maximum Employee Subscription Rate (% of Gross Wages) 10.00%    
Stock Issued During Period, Employee Stock Purchase Plans (in shares) 0.1 0.1 0.2
v3.22.0.1
Pensions DC Plans (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Retirement Benefits [Abstract]      
Defined Contribution Plan, Cost $ 299 $ 254 $ 232
v3.22.0.1
Pensions Funded Status (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]      
Cash contributions to retirement plans $ 34 $ 96 $ 50
Minimum [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Estimated Employer Contributions in Next Fiscal Year 40    
Maximum [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Estimated Employer Contributions in Next Fiscal Year 60    
Pension Plans, Defined Benefit [Member] | United States      
Change in Projected Benefit Obligation [Roll Forward]      
Benefit obligation at beginning of year 1,302 1,302  
Interest costs 23 35 45
Actuarial (gains) losses 20 44  
Benefits paid (85) (79)  
Benefit obligation at end of year 1,260 1,302 1,302
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Fair value of plan assets at beginning of year 1,267 1,201  
Actual return on plan assets 37 138  
Employer contribution 7 7  
Benefits paid (85) (79)  
Fair value of plan assets at end of year 1,226 1,267 1,201
Funded status (34) (35)  
Accumulated benefit obligation 1,260 1,302  
Amounts Recognized in Balance Sheet [Abstract]      
Noncurrent assets 32 38  
Current liability (7) (8)  
Noncurrent liabilities (59) (65)  
Net amount recognized (34) (35)  
Amounts Recognized in Accumulated Other Comprehensive Loss [Abstract]      
Net actuarial loss 157 142  
Net amount recognized $ 157 $ 142  
Weighted Average Assumptions Used to Determine Benefit Obligation [Abstract]      
Discount rate for determining benefit obligation 2.70% 2.33%  
Interest crediting rate for cash balance plans 2.58% 2.16%  
Pension Plans, Defined Benefit [Member] | Foreign Plan [Member]      
Change in Projected Benefit Obligation [Roll Forward]      
Benefit obligation at beginning of year $ 1,486 $ 1,303  
Business Combination 170    
Service costs 27 24 23
Interest costs 11 18 24
Settlements (7) (38)  
Plan participants' contributions 6 5  
Actuarial (gains) losses (57) 119  
Benefits paid (30) (26)  
Currency translation and other (54) 81  
Benefit obligation at end of year 1,552 1,486 1,303
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Fair value of plan assets at beginning of year 1,160 986  
Business Combination 158    
Actual return on plan assets 14 92  
Employer contribution 27 87  
Settlements (7) (38)  
Plan participants' contributions 6 5  
Benefits paid (30) (26)  
Currency translation and other (26) 54  
Fair value of plan assets at end of year 1,302 1,160 $ 986
Funded status (250) (326)  
Accumulated benefit obligation 1,475 1,417  
Amounts Recognized in Balance Sheet [Abstract]      
Noncurrent assets 205 157  
Current liability (10) (9)  
Noncurrent liabilities (445) (474)  
Net amount recognized (250) (326)  
Amounts Recognized in Accumulated Other Comprehensive Loss [Abstract]      
Net actuarial loss 167 242  
Prior service credits (3) (2)  
Net amount recognized $ 164 $ 240  
Weighted Average Assumptions Used to Determine Benefit Obligation [Abstract]      
Discount rate for determining benefit obligation 1.45% 0.95%  
Interest crediting rate for cash balance plans 1.25% 1.25%  
Average rate of increase in employee compensation 2.73% 2.30%  
v3.22.0.1
Pensions Net Benefit Cost (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Components of Net Periodic Benefit Cost (Income) [Abstract]      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible List] Other income/(expense)    
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Expected Return (Loss), Statement of Income or Comprehensive Income [Extensible List] Other income/(expense)    
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Amortization of Gain (Loss), Statement of Income or Comprehensive Income [Extensible List] Other income/(expense)    
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Amortization of Prior Service Cost (Credit), Statement of Income or Comprehensive Income [Extensible List] Other income/(expense)    
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Settlement and Curtailment Gain (Loss), Statement of Income or Comprehensive Income [Extensible List] Other income/(expense)    
Pension Plans, Defined Benefit [Member] | United States      
Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost (Income) [Abstract]      
Discount rate - interest cost 2.33% 3.13% 4.22%
Expected long-term rate of return on assets 4.25% 5.00% 5.76%
Components of Net Periodic Benefit Cost (Income) [Abstract]      
Interest cost on benefit obligation $ 23 $ 35 $ 45
Expected return on plan assets (40) (47) (55)
Amortization of actuarial net loss 7 6 2
Net periodic benefit cost (income) $ (10) $ (6) $ (8)
Pension Plans, Defined Benefit [Member] | Foreign Plan [Member]      
Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost (Income) [Abstract]      
Discount rate - service cost 0.65% 1.21% 1.97%
Discount rate - interest cost 0.80% 1.44% 2.06%
Average rate of increase in employee compensation 2.30% 2.27% 2.47%
Expected long-term rate of return on assets 2.02% 2.33% 3.25%
Components of Net Periodic Benefit Cost (Income) [Abstract]      
Service cost $ 27 $ 24 $ 23
Interest cost on benefit obligation 11 18 24
Expected return on plan assets (19) (19) (30)
Amortization of actuarial net loss 12 10 6
Amortization of prior service benefit   (1) (1)
Settlement/curtailment loss   8 4
Net periodic benefit cost (income) $ 31 $ 40 $ 26
v3.22.0.1
Pensions Benefit Obligation in Excess of Assets (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Defined Benefit Plan, Pension Plan with Project Benefit Obligation in Excess of Plan Assets [Abstract]    
Projected benefit obligation $ 2,010 $ 2,047
Fair value of plan assets 1,521 1,529
Pension Plans, Defined Benefit [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Accumulated benefit obligation 1,937 1,976
Fair value of plan assets $ 1,521 $ 1,526
v3.22.0.1
Pension Expected Benefit Payments (Details) - Pension Plans, Defined Benefit [Member]
$ in Millions
Dec. 31, 2021
USD ($)
United States  
Defined Benefit Plan, Expected Future Benefit Payments [Abstract]  
2022  $ 93
2023  89
2024  88
2025  86
2026  84
2027-2031 368
Foreign Plan [Member]  
Defined Benefit Plan, Expected Future Benefit Payments [Abstract]  
2022  45
2023  45
2024  49
2025  52
2026  56
2027-2031 $ 307
v3.22.0.1
Pensions FV Assets (Details) - Pension Plans, Defined Benefit [Member] - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
United States      
Defined Benefit Plan Disclosure [Line Items]      
Fair Value of Plan Assets $ 1,226 $ 1,267 $ 1,201
United States | Fair Value Measured at Net Asset Value Per Share [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Fair Value of Plan Assets [1] $ 1,226 1,267  
United States | U.S. Equity Funds [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets, Approximate Target Allocation, Percentage 10.00%    
Fair Value of Plan Assets $ 124 125  
United States | U.S. Equity Funds [Member] | Fair Value Measured at Net Asset Value Per Share [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Fair Value of Plan Assets [1] $ 124 125  
United States | International Equity Funds [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets, Approximate Target Allocation, Percentage 10.00%    
Fair Value of Plan Assets $ 117 126  
United States | International Equity Funds [Member] | Fair Value Measured at Net Asset Value Per Share [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Fair Value of Plan Assets [1] $ 117 126  
United States | Fixed Income Funds [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets, Approximate Target Allocation, Percentage 80.00%    
Fair Value of Plan Assets $ 966 1,001  
United States | Fixed Income Funds [Member] | Fair Value Measured at Net Asset Value Per Share [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Fair Value of Plan Assets [1] 966 1,001  
United States | Money Market Funds [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Fair Value of Plan Assets 19 15  
United States | Money Market Funds [Member] | Fair Value Measured at Net Asset Value Per Share [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Fair Value of Plan Assets [1] 19 15  
Foreign Plan [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Fair Value of Plan Assets 1,302 1,160 $ 986
Foreign Plan [Member] | Quoted Prices in Active Markets (Level I) [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Fair Value of Plan Assets 5 7  
Foreign Plan [Member] | Significant Other Observable Inputs (Level 2) [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Fair Value of Plan Assets 295 262  
Foreign Plan [Member] | Fair Value Measured at Net Asset Value Per Share [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Fair Value of Plan Assets [1] 1,002 891  
Foreign Plan [Member] | Fixed Income Funds [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Fair Value of Plan Assets 651 510  
Foreign Plan [Member] | Fixed Income Funds [Member] | Fair Value Measured at Net Asset Value Per Share [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Fair Value of Plan Assets [1] 651 510  
Foreign Plan [Member] | Equity Funds [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Fair Value of Plan Assets 17 74  
Foreign Plan [Member] | Equity Funds [Member] | Fair Value Measured at Net Asset Value Per Share [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Fair Value of Plan Assets [1] 17 74  
Foreign Plan [Member] | Hedge Funds [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Fair Value of Plan Assets 3 59  
Foreign Plan [Member] | Hedge Funds [Member] | Fair Value Measured at Net Asset Value Per Share [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Fair Value of Plan Assets [1] 3 59  
Foreign Plan [Member] | Multi-asset Funds [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Fair Value of Plan Assets 73 45  
Foreign Plan [Member] | Multi-asset Funds [Member] | Fair Value Measured at Net Asset Value Per Share [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Fair Value of Plan Assets [1] 73 45  
Foreign Plan [Member] | Derivative Funds [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Fair Value of Plan Assets 253 149  
Foreign Plan [Member] | Derivative Funds [Member] | Fair Value Measured at Net Asset Value Per Share [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Fair Value of Plan Assets [1] 253 149  
Foreign Plan [Member] | Alternative Investments [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Fair Value of Plan Assets 1 6  
Foreign Plan [Member] | Alternative Investments [Member] | Fair Value Measured at Net Asset Value Per Share [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Fair Value of Plan Assets [1] 1 6  
Foreign Plan [Member] | Insurance Contracts [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Fair Value of Plan Assets 295 262  
Foreign Plan [Member] | Insurance Contracts [Member] | Significant Other Observable Inputs (Level 2) [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Fair Value of Plan Assets 295 262  
Foreign Plan [Member] | Cash / Money Market Funds [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Fair Value of Plan Assets 9 55  
Foreign Plan [Member] | Cash / Money Market Funds [Member] | Quoted Prices in Active Markets (Level I) [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Fair Value of Plan Assets 5 7  
Foreign Plan [Member] | Cash / Money Market Funds [Member] | Fair Value Measured at Net Asset Value Per Share [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Fair Value of Plan Assets [1] $ 4 $ 48  
Foreign Plan [Member] | Minimum [Member] | Fixed Income Funds [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets, Approximate Target Allocation, Percentage 40.00%    
Foreign Plan [Member] | Minimum [Member] | Equity Funds [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets, Approximate Target Allocation, Percentage 0.00%    
Foreign Plan [Member] | Minimum [Member] | Multi-asset Funds [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets, Approximate Target Allocation, Percentage 0.00%    
Foreign Plan [Member] | Minimum [Member] | Derivative Funds [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets, Approximate Target Allocation, Percentage 0.00%    
Foreign Plan [Member] | Maximum [Member] | Fixed Income Funds [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets, Approximate Target Allocation, Percentage 90.00%    
Foreign Plan [Member] | Maximum [Member] | Equity Funds [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets, Approximate Target Allocation, Percentage 25.00%    
Foreign Plan [Member] | Maximum [Member] | Multi-asset Funds [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets, Approximate Target Allocation, Percentage 35.00%    
Foreign Plan [Member] | Maximum [Member] | Derivative Funds [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets, Approximate Target Allocation, Percentage 30.00%    
[1] Investments measured at the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.
v3.22.0.1
Income Taxes Components (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Components of Income From Continuing Operations Before Income Taxes [Abstract]      
U.S. $ 3,340 $ 4,762 $ 2,280
Non-U.S. 5,501 2,468 1,792
Income before income taxes 8,841 7,230 4,072
Current Income Tax Provision [Abstract]      
Federal 446 521 267
Non-U.S. 1,148 423 544
State 160 175 62
Total Current Income Tax Provision 1,754 1,119 873
Deferred Income Tax Provision (Benefit) [Abstract]      
Federal (227) (237) (222)
Non-U.S. (399) (18) (252)
State (19) (14) (25)
Total Deferred Income Tax Provision (Benefit) (645) (269) (499)
Provision for income taxes $ 1,109 $ 850 $ 374
v3.22.0.1
Income Taxes Rate Reconciliation (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Effective Income Tax Rate Reconciliation, Amount [Abstract]      
Statutory federal income tax rate 21.00% 21.00% 21.00%
Provision for income taxes at statutory rate $ 1,857 $ 1,518 $ 855
Foreign rate differential (255) (223) (204)
Income tax credits (315) (335) (213)
Global intangible low-taxed income 76 86 92
Foreign-derived intangible income (119) (156) (111)
Excess tax benefits from stock options and restricted stock units (124) (114) (80)
Provision for (reversal of) tax reserves, net (17) (26) 62
Intra-entity transfers (284)   (79)
Foreign exchange loss on inter-company debt refinancing   (47) (62)
Domestication transaction   (263)  
Valuation allowance 36 379 (4)
Withholding taxes 164 115 38
Basis difference on disposal of business   0 73
Tax return reassessments and settlements 1 (196) (6)
State income taxes, net of federal tax 82 147 22
Other, net 7 (35) (9)
Provision for income taxes 1,109 850 374
US foreign tax credits generated by repatriation of foreign earnings   96 75
Deferred Tax Implications      
Effective Income Tax Rate Reconciliation, Amount [Abstract]      
Intra-entity transfers 188    
Capital Loss      
Effective Income Tax Rate Reconciliation, Amount [Abstract]      
Intra-entity transfers $ 96    
Deferred Tax Asset, Interest Carryforward [Member]      
Effective Income Tax Rate Reconciliation, Amount [Abstract]      
Valuation allowance   212  
United States      
Effective Income Tax Rate Reconciliation, Amount [Abstract]      
Provision for (reversal of) tax reserves, net   (378)  
Valuation allowance   156  
Tax return reassessments and settlements   (25)  
Unrecognized tax benefits reclassed to accrued income taxes in connection with IRS settlement   144  
Charge for Expired Tax Credits due to Audit Settlement   $ 53  
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Anatomical Pathology business [Member]      
Effective Income Tax Rate Reconciliation, Amount [Abstract]      
Income Tax Provision Related to Gain of Sale of Business     $ 191
v3.22.0.1
Income Taxes Deferred Taxes (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Deferred Tax Assets (Liabilities) [Abstract]      
Depreciation and amortization $ (4,687) $ (2,962)  
Net operating loss and credit carryforwards 1,652 1,668  
Reserves and accruals 162 164  
Accrued compensation 318 253  
Inventory basis difference 181 112  
Deferred interest 295 227  
Unrealized (gains) losses on hedging instruments (33) 242  
Other, net 251 124  
Deferred tax liabilities, net before valuation allowance (1,861) (172)  
Valuation Allowance 968 933 $ 408
Deferred tax liabilities, net (2,829) (1,105)  
Valuation Allowance [Roll Forward]      
Beginning Balance 933 408 471
Additions (reductions) charged to income tax provision, net 24 514 (27)
Additions due to acquisitions 30    
Reduction due to a divestiture     (33)
Currency translation and other (19) 11 (3)
Ending Balance $ 968 $ 933 $ 408
v3.22.0.1
Income Taxes Loss Carryforwards (Details)
$ in Millions
Dec. 31, 2021
USD ($)
Tax Credit Carryforward [Line Items]  
Undistributed Earnings of Foreign Subsidiaries $ 24,000
Foreign Tax Credit Carryforwards [Member]  
Tax Credit Carryforward [Line Items]  
Tax Credit Carryforward, Amount 610
Deferred Interest Carryforward [Member]  
Tax Credit Carryforward [Line Items]  
Tax Credit Carryforward, Amount 295
Federal [Member]  
Operating Loss Carryforwards [Line Items]  
Net Operating Loss Carryforwards 72
State [Member]  
Operating Loss Carryforwards [Line Items]  
Net Operating Loss Carryforwards 88
Non- U.S. [Member]  
Operating Loss Carryforwards [Line Items]  
Net Operating Loss Carryforwards 1,180
Portion of Non- U.S. with expiration dates [Member]  
Operating Loss Carryforwards [Line Items]  
Net Operating Loss Carryforwards $ 419
v3.22.0.1
Income Taxes - Unrecognized Tax Benefits (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Reconciliation of Unrecognized Tax Benefits [Roll Forward]      
Balance at beginning of year $ 1,091 $ 1,552 $ 1,442
Additions due to acquisitions 26    
Additions for tax positions of current year 32 8 53
Additions for tax positions of prior years 60   69
Reductions for tax positions of prior years (5) (296) (7)
Closure of tax years (27)    
Settlements (53) (173) (5)
Balance at end of year 1,124 1,091 1,552
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued 59 78  
Federal and State [Member]      
Reconciliation of Unrecognized Tax Benefits [Roll Forward]      
Unrecognized Tax Benefits, Period Increase (Decrease) (75) (410) 45
Foreign [Member]      
Reconciliation of Unrecognized Tax Benefits [Roll Forward]      
Unrecognized Tax Benefits, Period Increase (Decrease) $ 80 $ (51) $ 70
v3.22.0.1
Earnings Per Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Earnings Per Share [Abstract]      
Net income $ 7,725 $ 6,375 $ 3,696
Basic Weighted Average Shares 394 396 400
Effect of Stock Options and Restricted Stock Units 3 3 3
Diluted Weighted Average Shares 397 399 403
Basic Earnings Per Share (in dollars per share) $ 19.62 $ 16.09 $ 9.24
Diluted Earnings Per Share (in dollars per share) $ 19.46 $ 15.96 $ 9.17
Antidilutive stock options excluded from diluted weighted average shares 1 1 1
v3.22.0.1
Debt Outstanding Debt (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Debt Instrument [Line Items]    
Total borrowings at par value $ 34,971 $ 21,919
Fair value hedge accounting adjustments   25
Unamortized discount (117) (102)
Unamortized debt issuance costs (184) (114)
Total borrowings at carrying value 34,670 21,728
Finance lease liabilities 200 7
Less: Short-term obligations and current maturities 2,537 2,628
Long-term obligations 32,333 19,107
Maturities of Long-term Debt [Abstract]    
2022  2,522  
2023  5,396  
2024  4,138  
2025  2,610  
2026  797  
2027 and thereafter 19,508  
Total Repayments of Principal 34,971 21,919
2022  15  
2023  12  
2024  12  
2025  12  
2026  12  
2027 and thereafter 137  
Total Repayments of Finance Lease Liabilities $ 200 $ 7
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration] Long-term obligations Long-term obligations
Commercial Paper Programs [Member]    
Debt Instrument [Line Items]    
Effective Interest Rate 0.01%  
Total borrowings at par value $ 2,522  
Total borrowings at carrying value 2,522  
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal 2,522  
Senior Notes [Member]    
Debt Instrument [Line Items]    
Total borrowings at carrying value $ 32,072 $ 21,723
Debt Instrument, Call Feature Each of the fixed rate senior notes may be redeemed at a redemption price of 100% of the principal amount plus a specified make-whole premium and accrued interest. Except for the euro-denominated floating rate senior notes, which may not be redeemed early, the floating rate senior notes may be redeemed in whole or in part on or after their applicable call dates at a redemption price of 100% of the principal amount plus accrued interest.  
Senior Notes [Member] | 2.15% 7-Year Senior Notes, Due 7/21/2022 (euro-denominated) [Member]    
Debt Instrument [Line Items]    
Stated Interest Rate 2.15%  
Debt Instrument, Term 7 years  
Debt Instrument, Maturity Date Jul. 21, 2022  
Total borrowings at par value   611
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal   611
Senior Notes [Member] | 3.00% 7-Year Senior Notes, Due 4/15/2023 [Member]    
Debt Instrument [Line Items]    
Stated Interest Rate 3.00%  
Debt Instrument, Term 7 years  
Debt Instrument, Maturity Date Apr. 15, 2023  
Total borrowings at par value   1,000
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal   1,000
Senior Notes [Member] | Floating Rate (SOFR +0.35%) 1.5 Year Senior Notes, Due 4/18/2023 [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Basis Spread on Variable Rate 0.35%  
Debt Instrument, Term 1 year 6 months  
Debt Instrument, Maturity Date Apr. 18, 2023  
Total borrowings at par value $ 1,000  
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal $ 1,000  
Senior Notes [Member] | Floating Rate (SOFR +0.39%) 2-Year Senior Notes, Due 10/18/2023 [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Basis Spread on Variable Rate 0.39%  
Debt Instrument, Term 2 years  
Debt Instrument, Maturity Date Oct. 18, 2023  
Total borrowings at par value $ 500  
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal $ 500  
Senior Notes [Member] | 0.797% 2-Year Senior Notes, Due 10/18/2023 [Member]    
Debt Instrument [Line Items]    
Stated Interest Rate 0.797%  
Debt Instrument, Term 2 years  
Debt Instrument, Maturity Date Oct. 18, 2023  
Effective Interest Rate 1.03%  
Total borrowings at par value $ 1,350  
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal $ 1,350  
Senior Notes [Member] | Floating Rate (EURIBOR +0.20%) 2 Year Senior Notes, Due 11/18/2023 (euro-denominated) [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Basis Spread on Variable Rate 0.20%  
Debt Instrument, Term 2 years  
Debt Instrument, Maturity Date Nov. 18, 2023  
Effective Interest Rate 0.00%  
Total borrowings at par value $ 1,933  
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal $ 1,933  
Senior Notes [Member] | 0.000% 2-Year Senior Notes, Due 11/18/2023 (euro-denominated) [Member]    
Debt Instrument [Line Items]    
Stated Interest Rate 0.00%  
Debt Instrument, Term 2 years  
Debt Instrument, Maturity Date Nov. 18, 2023  
Effective Interest Rate 0.06%  
Total borrowings at par value $ 625  
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal $ 625  
Senior Notes [Member] | 4.15% 10-Year Senior Notes, Due 2/1/2024 [Member]    
Debt Instrument [Line Items]    
Stated Interest Rate 4.15%  
Debt Instrument, Term 10 years  
Debt Instrument, Maturity Date Feb. 01, 2024  
Total borrowings at par value   1,000
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal   1,000
Senior Notes [Member] | 0.75% 8-Year Senior Notes, Due 9/12/2024 (euro-denominated) [Member]    
Debt Instrument [Line Items]    
Stated Interest Rate 0.75%  
Debt Instrument, Term 8 years  
Debt Instrument, Maturity Date Sep. 12, 2024  
Effective Interest Rate 0.94%  
Total borrowings at par value $ 1,137 1,222
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal $ 1,137 1,222
Senior Notes [Member] | 1.215% 3-Year Senior Notes, Due 10/18/2024 [Member]    
Debt Instrument [Line Items]    
Stated Interest Rate 1.215%  
Debt Instrument, Term 3 years  
Debt Instrument, Maturity Date Oct. 18, 2024  
Effective Interest Rate 1.42%  
Total borrowings at par value $ 2,500  
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal $ 2,500  
Senior Notes [Member] | Floating Rate (SOFR +0.53%) 3-Year Senior Notes, Due 10/18/2024 [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Basis Spread on Variable Rate 0.53%  
Debt Instrument, Term 3 years  
Debt Instrument, Maturity Date Oct. 18, 2024  
Total borrowings at par value $ 500  
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal $ 500  
Senior Notes [Member] | 0.125% 5.5-Year Senior Notes, Due 3/1/2025 (euro-denominated) [Member]    
Debt Instrument [Line Items]    
Stated Interest Rate 0.125%  
Debt Instrument, Term 5 years 6 months  
Debt Instrument, Maturity Date Mar. 01, 2025  
Effective Interest Rate 0.41%  
Total borrowings at par value $ 910 977
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal $ 910 977
Senior Notes [Member] | 4.133% 5-Year Senior Notes, Due 3/25/2025 [Member]    
Debt Instrument [Line Items]    
Stated Interest Rate 4.133%  
Debt Instrument, Term 5 years  
Debt Instrument, Maturity Date Mar. 25, 2025  
Total borrowings at par value   1,100
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal   1,100
Senior Notes [Member] | 2.00% 10-Year Senior Notes, Due 4/15/2025 (euro-denominated) [Member]    
Debt Instrument [Line Items]    
Stated Interest Rate 2.00%  
Debt Instrument, Term 10 years  
Debt Instrument, Maturity Date Apr. 15, 2025  
Effective Interest Rate 2.10%  
Total borrowings at par value $ 728 782
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal $ 728 782
Senior Notes [Member] | 0.000% 4-Year Senior Notes, Due 11/18/2025 (euro-denominated) [Member]    
Debt Instrument [Line Items]    
Stated Interest Rate 0.00%  
Debt Instrument, Term 4 years  
Debt Instrument, Maturity Date Nov. 18, 2025  
Effective Interest Rate 0.16%  
Total borrowings at par value $ 625  
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal $ 625  
Senior Notes [Member] | 3.65% 10-Year Senior Notes, Due 12/15/2025 [Member]    
Debt Instrument [Line Items]    
Stated Interest Rate 3.65%  
Debt Instrument, Term 10 years  
Debt Instrument, Maturity Date Dec. 15, 2025  
Effective Interest Rate 3.77%  
Total borrowings at par value $ 350 350
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal $ 350 350
Senior Notes [Member] | 1.40% 8.5-Year Senior Notes, Due 1/23/2026 (euro-denominated) [Member]    
Debt Instrument [Line Items]    
Stated Interest Rate 1.40%  
Debt Instrument, Term 8 years 6 months  
Debt Instrument, Maturity Date Jan. 23, 2026  
Effective Interest Rate 1.53%  
Total borrowings at par value $ 796 855
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal $ 796 855
Senior Notes [Member] | 2.95% 10-Year Senior Notes, Due 9/19/2026 [Member]    
Debt Instrument [Line Items]    
Stated Interest Rate 2.95%  
Debt Instrument, Term 10 years  
Debt Instrument, Maturity Date Sep. 19, 2026  
Total borrowings at par value   1,200
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal   1,200
Senior Notes [Member] | 1.45% 10-Year Senior Notes, Due 3/16/2027 (euro-denominated) [Member]    
Debt Instrument [Line Items]    
Stated Interest Rate 1.45%  
Debt Instrument, Term 10 years  
Debt Instrument, Maturity Date Mar. 16, 2027  
Effective Interest Rate 1.66%  
Total borrowings at par value $ 568 611
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal $ 568 611
Senior Notes [Member] | 1.75% 7-Year Senior Notes, Due 4/15/2027 (euro-denominated) [Member]    
Debt Instrument [Line Items]    
Stated Interest Rate 1.75%  
Debt Instrument, Term 7 years  
Debt Instrument, Maturity Date Apr. 15, 2027  
Effective Interest Rate 1.97%  
Total borrowings at par value $ 682 733
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal $ 682 733
Senior Notes [Member] | 3.20% 10-Year Senior Notes, Due 8/15/2027 [Member]    
Debt Instrument [Line Items]    
Stated Interest Rate 3.20%  
Debt Instrument, Term 10 years  
Debt Instrument, Maturity Date Aug. 15, 2027  
Total borrowings at par value   750
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal   750
Senior Notes [Member] | 0.50% 8.5-Year Senior Notes, Due 3/1/2028 (euro-denominated) [Member]    
Debt Instrument [Line Items]    
Stated Interest Rate 0.50%  
Debt Instrument, Term 8 years 6 months  
Debt Instrument, Maturity Date Mar. 01, 2028  
Effective Interest Rate 0.77%  
Total borrowings at par value $ 910 977
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal $ 910 977
Senior Notes [Member] | 1.375% 12-Year Senior Notes, Due 9/12/2028 (euro-denominated) [Member]    
Debt Instrument [Line Items]    
Stated Interest Rate 1.375%  
Debt Instrument, Term 12 years  
Debt Instrument, Maturity Date Sep. 12, 2028  
Effective Interest Rate 1.46%  
Total borrowings at par value $ 682 733
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal $ 682 733
Senior Notes [Member] | 1.750% 7-Year Senior Notes, Due 10/15/2028 [Member]    
Debt Instrument [Line Items]    
Stated Interest Rate 1.75%  
Debt Instrument, Term 7 years  
Debt Instrument, Maturity Date Oct. 15, 2028  
Effective Interest Rate 1.89%  
Total borrowings at par value $ 700  
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal $ 700  
Senior Notes [Member] | 1.95% 12-Year Senior Notes, Due 7/24/2029 (euro-denominated) [Member]    
Debt Instrument [Line Items]    
Stated Interest Rate 1.95%  
Debt Instrument, Term 12 years  
Debt Instrument, Maturity Date Jul. 24, 2029  
Effective Interest Rate 2.08%  
Total borrowings at par value $ 796 855
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal $ 796 855
Senior Notes [Member] | 2.60% 10-Year Senior Notes, Due 10/1/2029 [Member]    
Debt Instrument [Line Items]    
Stated Interest Rate 2.60%  
Debt Instrument, Term 10 years  
Debt Instrument, Maturity Date Oct. 01, 2029  
Effective Interest Rate 2.74%  
Total borrowings at par value $ 900 900
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal $ 900 900
Senior Notes [Member] | 4.497% 10-Year Senior Notes, Due 3/25/2030 [Member]    
Debt Instrument [Line Items]    
Stated Interest Rate 4.497%  
Debt Instrument, Term 10 years  
Debt Instrument, Maturity Date Mar. 25, 2030  
Total borrowings at par value   1,100
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal   1,100
Senior Notes [Member] | 0.80% 9-Year Senior Notes, Due 10/18/2030 (euro-denominated) [Member]    
Debt Instrument [Line Items]    
Stated Interest Rate 0.80%  
Debt Instrument, Term 9 years  
Debt Instrument, Maturity Date Oct. 18, 2030  
Effective Interest Rate 0.89%  
Total borrowings at par value $ 1,990  
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal $ 1,990  
Senior Notes [Member] | 0.875% 12-Year Senior Notes, Due 10/1/2031 (euro-denominated) [Member]    
Debt Instrument [Line Items]    
Stated Interest Rate 0.875%  
Debt Instrument, Term 12 years  
Debt Instrument, Maturity Date Oct. 01, 2031  
Effective Interest Rate 1.13%  
Total borrowings at par value $ 1,023 1,099
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal $ 1,023 1,099
Senior Notes [Member] | 2.00% 10-Year Senior Notes, Due 10/15/2031 [Member]    
Debt Instrument [Line Items]    
Stated Interest Rate 2.00%  
Debt Instrument, Term 10 years  
Debt Instrument, Maturity Date Oct. 15, 2031  
Effective Interest Rate 2.23%  
Total borrowings at par value $ 1,200  
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal $ 1,200  
Senior Notes [Member] | 2.375% 12-Year Senior Notes, Due 4/15/2032 (euro-denominated) [Member]    
Debt Instrument [Line Items]    
Stated Interest Rate 2.375%  
Debt Instrument, Term 12 years  
Debt Instrument, Maturity Date Apr. 15, 2032  
Effective Interest Rate 2.55%  
Total borrowings at par value $ 682 733
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal $ 682 733
Senior Notes [Member] | 1.125% 12-Year Senior Notes Due 10/18/2033 (euro-denominated) [Member]    
Debt Instrument [Line Items]    
Stated Interest Rate 1.125%  
Debt Instrument, Term 12 years  
Debt Instrument, Maturity Date Oct. 18, 2033  
Effective Interest Rate 1.21%  
Total borrowings at par value $ 1,706  
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal $ 1,706  
Senior Notes [Member] | 2.875% 20-Year Senior Notes, Due 7/24/2037 (euro-denominated) [Member]    
Debt Instrument [Line Items]    
Stated Interest Rate 2.875%  
Debt Instrument, Term 20 years  
Debt Instrument, Maturity Date Jul. 24, 2037  
Effective Interest Rate 2.94%  
Total borrowings at par value $ 796 855
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal $ 796 855
Senior Notes [Member] | 1.50% 20-Year Senior Notes, Due 10/1/2039 (euro-denominated) [Member]    
Debt Instrument [Line Items]    
Stated Interest Rate 1.50%  
Debt Instrument, Term 20 years  
Debt Instrument, Maturity Date Oct. 01, 2039  
Effective Interest Rate 1.73%  
Total borrowings at par value $ 1,023 1,099
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal $ 1,023 1,099
Senior Notes [Member] | 2.80% 20-Year Senior Notes, Due 10/15/2041 [Member]    
Debt Instrument [Line Items]    
Stated Interest Rate 2.80%  
Debt Instrument, Term 20 years  
Debt Instrument, Maturity Date Oct. 15, 2041  
Effective Interest Rate 2.90%  
Total borrowings at par value $ 1,200  
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal $ 1,200  
Senior Notes [Member] | 1.625% 20-Year Senior Notes, Due 10/18/2041 (euro-denominated) [Member]    
Debt Instrument [Line Items]    
Stated Interest Rate 1.625%  
Debt Instrument, Term 20 years  
Debt Instrument, Maturity Date Oct. 18, 2041  
Effective Interest Rate 1.78%  
Total borrowings at par value $ 1,421  
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal $ 1,421  
Senior Notes [Member] | 5.30% 30-Year Senior Notes, Due 2/1/2044 [Member]    
Debt Instrument [Line Items]    
Stated Interest Rate 5.30%  
Debt Instrument, Term 30 years  
Debt Instrument, Maturity Date Feb. 01, 2044  
Effective Interest Rate 5.37%  
Total borrowings at par value $ 400 400
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal $ 400 400
Senior Notes [Member] | 4.10% 30-Year Senior Notes, Due 8/15/2047 [Member]    
Debt Instrument [Line Items]    
Stated Interest Rate 4.10%  
Debt Instrument, Term 30 years  
Debt Instrument, Maturity Date Aug. 15, 2047  
Effective Interest Rate 4.23%  
Total borrowings at par value $ 750 750
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal $ 750 750
Senior Notes [Member] | 1.875% 30-Year Senior Notes, Due 10/1/2049 (euro-denominated) [Member]    
Debt Instrument [Line Items]    
Stated Interest Rate 1.875%  
Debt Instrument, Term 30 years  
Debt Instrument, Maturity Date Oct. 01, 2049  
Effective Interest Rate 1.98%  
Total borrowings at par value $ 1,137 1,222
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal $ 1,137 1,222
Senior Notes [Member] | 2.00% 30-Year Senior Notes, Due 10/18/2051 (euro-denominated) [Member]    
Debt Instrument [Line Items]    
Stated Interest Rate 2.00%  
Debt Instrument, Term 30 years  
Debt Instrument, Maturity Date Oct. 18, 2051  
Effective Interest Rate 2.07%  
Total borrowings at par value $ 853  
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal 853  
Other Debt [Member]    
Debt Instrument [Line Items]    
Total borrowings at par value 76 5
Total borrowings at carrying value 76 5
Maturities of Long-term Debt [Abstract]    
Total Repayments of Principal $ 76 $ 5
v3.22.0.1
Debt Short-term Financing (Details)
 12 Months Ended
Dec. 31, 2021
USD ($)
Jan. 07, 2022
USD ($)
Short-term Financing [Line Items]    
Line of Credit Facility, Remaining Borrowing Capacity $ 78,000,000  
Revolving Credit Facility [Member]    
Short-term Financing [Line Items]    
Line of Credit Facility, Maximum Borrowing Capacity $ 3,000,000,000  
Debt, Covenant, Minimum Consolidated Interest Coverage Ratio 3.5  
Line of Credit Facility, Amount Outstanding $ 0  
Letters of Credit Outstanding, Amount 4,000,000  
Revolving Credit Facility [Member] | Subsequent Event [Member]    
Short-term Financing [Line Items]    
Line of Credit Facility, Maximum Borrowing Capacity   $ 5,000,000,000
Commercial Paper Programs [Member]    
Short-term Financing [Line Items]    
Short-term Borrowings $ 2,520,000,000  
Commercial Paper Programs [Member] | U.S. Commercial Paper Program [Member]    
Short-term Financing [Line Items]    
Maximum Period to Maturity Allowed Under Program 397 days  
Commercial Paper Programs [Member] | Euro Commercial Paper Program [Member]    
Short-term Financing [Line Items]    
Maximum Period to Maturity Allowed Under Program 183 days  
v3.22.0.1
Debt Redemption (Details) - USD ($)
$ in Millions
 1 Months Ended 12 Months Ended
Feb. 24, 2022
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Extinguishment of Debt [Line Items]        
Gain (Loss) on Extinguishment of Debt   $ (767) $ 0 $ (184)
Subsequent Event [Member]        
Extinguishment of Debt [Line Items]        
Gain (Loss) on Extinguishment of Debt $ (26)      
Cross Currency Interest Rate Contract [Member]        
Extinguishment of Debt [Line Items]        
Proceeds from Hedge, Investing Activities       44
Interest Rate Swaps [Member]        
Extinguishment of Debt [Line Items]        
Proceeds from Hedge, Financing Activities   $ 22    
Payments for Hedge, Financing Activities       $ 17
v3.22.0.1
Leases (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Lessee, Lease, Description [Line Items]      
ROU assets $ 1,531 $ 775  
Operating lease liabilities - current 266 184  
Operating lease liabilities - noncurrent 1,203 626  
Operating lease costs 254 224 $ 208
Variable lease costs 66 49 41
Cash used in operating activities for payments of amounts included in the measurement of operating lease liabilities 288 222 208
Operating lease ROU assets obtained in exchange for new operating lease liabilities $ 293 $ 202 $ 205
Weighted Average Remaining Lease Term 9 years 10 months 24 days 6 years 3 months 18 days 6 years 2 months 12 days
Weighted Average Discount Rate 2.60% 3.40% 4.00%
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] Other assets Other assets  
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List] Other accrued expenses Other accrued expenses  
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] Other long-term liabilities Other long-term liabilities  
2022  $ 303    
2023  248    
2024  193    
2025  144    
2026  120    
2027 and thereafter 650    
Total lease payments 1,658    
Imputed Interest 189    
Total operating lease liability 1,469    
Lease Residual Value Guarantee [Member]      
Lessee, Lease, Description [Line Items]      
Guarantor Obligations, Maximum Exposure, Undiscounted $ 147    
Minimum [Member]      
Lessee, Lease, Description [Line Items]      
Lessee, Operating Lease, Remaining Lease Term 1 month    
Lessee, Operating Lease, Renewal Term 1 year    
Maximum [Member]      
Lessee, Lease, Description [Line Items]      
Lessee, Operating Lease, Remaining Lease Term 30 years    
Lessee, Operating Lease, Renewal Term 10 years    
Lessee, Operating Lease, Option to Terminate, Term 1 year    
v3.22.0.1
Commitments and Contingencies (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Unrecorded Unconditional Purchase Obligation [Line Items]    
Unrecorded Unconditional Purchase Obligation $ 2,510  
Accrual for Environmental Loss Contingencies Disclosure [Abstract]    
Accrual for Environmental Loss Contingencies, Net 65  
Letters of Credit / Bank Guarantees [Member]    
Guarantor Obligations [Line Items]    
Guarantor Obligations, Maximum Exposure, Undiscounted $ 266  
Guarantor Obligations, Term Substantially all of these letters of credit and guarantees expire before 2039.  
Surety Bonds and Other Guarantees [Member]    
Guarantor Obligations [Line Items]    
Guarantor Obligations, Maximum Exposure, Undiscounted $ 95  
Guarantor Obligations, Term The expiration of these bonds and guarantees ranges through 2023.  
Inventories [Member] | Analytical Instruments [Member] | Cost of Sales [Member]    
Unrecorded Unconditional Purchase Obligation [Line Items]    
Inventory, Firm Purchase Commitment, Loss   $ 108
Businesses Sold [Member] | Pension Obligation Guarantee [Member]    
Guarantor Obligations [Line Items]    
Guarantor Obligations, Maximum Exposure, Undiscounted $ 36  
Product Liability, Workers Compensation and Other Personal Injury Matters [Member]    
Loss Contingency [Abstract]    
Loss Contingency Accrued 216  
Loss Contingency, Accrual, Gross 223  
Estimated Amount Due from Insurers, Net 100  
Estimated Amount Due from Insurers, Undiscounted 106  
Loss Contingency Accrual, Product Liability, Gross, Divested Business 11  
Product Liability, Workers Compensation and Other Personal Injury Matters [Member] | Minimum [Member]    
Loss Contingency [Abstract]    
Loss Contingency, Estimate of Possible Loss 216  
Product Liability, Workers Compensation and Other Personal Injury Matters [Member] | Maximum [Member]    
Loss Contingency [Abstract]    
Loss Contingency, Estimate of Possible Loss $ 375  
v3.22.0.1
Comprehensive Income and Shareholders' Equity (Details) - USD ($)
shares in Millions, $ in Millions
 1 Months Ended 12 Months Ended
Jan. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Balance $ 40,855 $ 34,517 $ 29,684 $ 27,594
Other comprehensive items before reclassifications   409    
Amounts reclassified from accumulated other comprehensive items   69    
Total other comprehensive items   478 (128) (180)
Balance   40,855 34,517 29,684
Payments for Repurchase of Common Stock   $ 2,000 1,500 1,500
Class of Stock Disclosures [Abstract]        
Common Stock, Capital Shares Reserved for Future Issuance (in shares)   23.0    
Subsequent Event [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Payments for Repurchase of Common Stock $ 2,000      
Purchases of company common stock (in shares) 3.3      
Currency Translation Adjustment [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Balance $ (2,065) $ (2,438)    
Other comprehensive items before reclassifications   373    
Total other comprehensive items   373    
Balance   (2,065) (2,438)  
Unrealized Losses on Hedging Instruments [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Balance (35) (91)    
Amounts reclassified from accumulated other comprehensive items   56    
Total other comprehensive items   56    
Balance   (35) (91)  
Pension and Other Postretirement Benefit Liability Adjustment [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Balance (229) (278)    
Other comprehensive items before reclassifications   36    
Amounts reclassified from accumulated other comprehensive items   13    
Total other comprehensive items   49    
Balance   (229) (278)  
Accumulated Other Comprehensive Items [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Balance $ (2,329) (2,807) (2,679) (2,498)
Total other comprehensive items   478 (128) (181)
Balance   $ (2,329) $ (2,807) $ (2,679)
v3.22.0.1
Fair Value Measurements, Assets and Liabilities (Details) - Fair Value, Recurring [Member] - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Assets [Abstract]    
Cash equivalents $ 2,210 $ 8,971
Investments 298 21
Warrants 15 7
Insurance contracts 181 157
Derivative contracts 36 28
Total assets 2,740 9,184
Liabilities [Abstract]    
Derivative contracts 1 132
Contingent consideration 317 70
Total liabilities 318 202
Quoted Prices in Active Markets (Level I) [Member]    
Assets [Abstract]    
Cash equivalents 2,210 8,971
Investments 298 21
Total assets 2,508 8,992
Significant Other Observable Inputs (Level 2) [Member]    
Assets [Abstract]    
Warrants 15 7
Insurance contracts 181 157
Derivative contracts 36 28
Total assets 232 192
Liabilities [Abstract]    
Derivative contracts 1 132
Total liabilities 1 132
Significant Unobservable Inputs (Level 3) [Member]    
Liabilities [Abstract]    
Contingent consideration 317 70
Total liabilities $ 317 $ 70
v3.22.0.1
Fair Value Measurements and Fair Value of Financial Instruments Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation (Details) - Contingent Consideration [Member] - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Beginning balance $ 70 $ 55
Acquisitions (including assumed balances) 403 28
Payments (109) (4)
Changes in fair value included in earnings (47) (9)
Ending balance $ 317 $ 70
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Selling, general and administrative expenses Selling, general and administrative expenses
v3.22.0.1
Fair Value Measurements, Derivative Assets & Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Derivatives, Fair Value [Line Items]    
Cumulative Amount of Fair Value Hedging Adjustment - Increase (Decrease) Included in Carrying Amount of Liability   $ 25
Long-term Obligations [Member]    
Derivatives, Fair Value [Line Items]    
Hedged Liability, Fair Value Hedge   1,020
Cumulative Amount of Fair Value Hedging Adjustment - Increase (Decrease) Included in Carrying Amount of Liability   25
Interest Rate Swaps [Member] | Derivatives Designated as Hedging Instrument [Member] | Other Assets [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Assets   25
Interest Rate Swaps [Member] | Fair Value Hedging [Member]    
Derivatives, Fair Value [Line Items]    
Notional Amount Of Derivatives   1,000
Cross Currency Interest Rate Contract [Member] | Derivatives Designated as Hedging Instrument [Member] | Other Assets [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Assets $ 25  
Cross Currency Interest Rate Contract [Member] | Derivatives Designated as Hedging Instrument [Member] | Other Long-term Liabilities [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Liabilities   46
Cross Currency Interest Rate Contract [Member] | Net Investment Hedging [Member]    
Derivatives, Fair Value [Line Items]    
Notional Amount Of Derivatives 900 900
Currency Exchange Contracts [Member]    
Derivatives, Fair Value [Line Items]    
Notional Amount Of Derivatives 2,149 5,206
Currency Exchange Contracts [Member] | Derivatives Not Designated as Hedging Instrument [Member] | Other Current Assets [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Assets 11 3
Currency Exchange Contracts [Member] | Derivatives Not Designated as Hedging Instrument [Member] | Other Accrued Expenses [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Liabilities 1 86
Fair Value, Recurring [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Assets 36 28
Derivative Liabilities $ 1 $ 132
v3.22.0.1
Fair Value Measurements, Derivative Instruments, Gains & Losses (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Interest Rate Swaps [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Payments for Hedge, Financing Activities     $ 17
Cross Currency Interest Rate Contract [Member] | Other Expense [Member] | Derivatives Not Designated as Hedging Instrument [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Gain (Loss) on Derivative, Net   $ (9)  
Currency Exchange Contracts [Member] | Other Expense [Member] | Derivatives Not Designated as Hedging Instrument [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Gain (Loss) on Derivative, Net $ 162 (81)  
Currency Exchange Contracts [Member] | Cost of Sales [Member] | Derivatives Not Designated as Hedging Instrument [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Gain (Loss) on Derivative, Net 12 (17)  
Fair Value Hedging [Member] | Interest Rate Swaps [Member] | Other Expense [Member] | Derivatives Designated as Hedging Instrument [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Gain (Loss) on Hedged Debt in Fair Value Hedge 25 (38)  
Gain (Loss) on Derivative, Net (3) 38  
Cash Flow Hedging [Member] | Interest Rate Swaps [Member] | Derivatives Designated as Hedging Instrument [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax   (85)  
Payments for Hedge, Financing Activities   85 $ 50
Cash Flow Hedging [Member] | Interest Rate Swaps [Member] | Other Expense [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax 65 42  
Cash Flow Hedging [Member] | Interest Rate Swaps [Member] | Other Expense [Member] | Derivatives Designated as Hedging Instrument [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax (73) (59)  
Net Investment Hedging [Member] | Foreign currency-denominated debt [Member] | Derivatives Designated as Hedging Instrument [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Gain (Loss) in Currency Translation Adjustment on Net Investment Hedge 922 (873)  
Net Investment Hedging [Member] | Cross Currency Interest Rate Contract [Member] | Derivatives Designated as Hedging Instrument [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Gain (Loss) in Currency Translation Adjustment on Net Investment Hedge 71 (79)  
Net Investment Hedging [Member] | Cross Currency Interest Rate Contract [Member] | Other Expense [Member] | Derivatives Designated as Hedging Instrument [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Gain (Loss) on Derivative, Net $ 8 $ 11  
v3.22.0.1
Fair Value of Other Instruments (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt Obligations - Carrying Value $ 34,670 $ 21,728
Debt Instrument, Fair Value Disclosure 36,047 24,658
Senior Notes [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt Obligations - Carrying Value 32,072 21,723
Debt Instrument, Fair Value Disclosure 33,449 24,653
Commercial Paper Programs [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt Obligations - Carrying Value 2,522  
Debt Instrument, Fair Value Disclosure 2,522  
Other Debt [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt Obligations - Carrying Value 76 5
Debt Instrument, Fair Value Disclosure $ 76 $ 5
v3.22.0.1
Supplemental Cash Flow Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Supplemental Cash Flow Information [Abstract]        
Cash Paid For Interest $ 555 $ 471 $ 790  
Cash Paid For Income Taxes 2,182 1,324 896  
Non-cash Investing and Financing Activities [Abstract]        
Acquired but unpaid property, plant and equipment 379 347 150  
Fair value of equity awards exchanged 43      
Fair value of contingent consideration 183      
Finance lease ROU assets obtained in exchange for new finance lease liabilities 15 5 1  
Declared but unpaid dividends 104 89 77  
Issuance of stock upon vesting of restricted stock units 265 217 182  
Cash and cash equivalents 4,477 10,325    
Restricted cash included in other current assets 13 10    
Restricted cash included in other assets 1 1    
Cash, cash equivalents and restricted cash $ 4,491 $ 10,336 $ 2,422 $ 2,117
Restricted Cash and Cash Equivalents, Current, Asset, Statement of Financial Position [Extensible List] Other current assets      
Restricted Cash and Cash Equivalents, Noncurrent, Asset, Statement of Financial Position [Extensible List] Other assets      
v3.22.0.1
Restructuring and Other Costs, Net (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Feb. 24, 2022
Restructuring Cost and Reserve [Line Items]        
Restructuring and Related Cost, Percentage of Total Workforce Eliminated, Less Than 1.00% 1.00% 1.00%  
Restructuring and other costs (income) $ 197 $ 99 $ (413)  
Life Sciences Solutions [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring and other costs (income) 129 34 24  
Analytical Instruments [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring and other costs (income) 6 26 14  
Specialty Diagnostics [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring and other costs (income) 18 9 (471)  
Laboratory Products and Biopharma Services [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring and other costs (income) 35 23 17  
Corporate [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring and other costs (income) $ 9 $ 7 $ 3  
Forecast [Member]        
Restructuring Cost and Reserve [Line Items]        
Identified Future Restructuring Costs       $ 20
v3.22.0.1
Restructuring Reserves (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Restructuring Reserve [Roll Forward]      
Beginning balance $ 21 $ 34 $ 80
Net restructuring charges incurred 37 51 52
Payments (40) (57) (69)
Currency translation (1) (7) (1)
Ending balance 17 21 34
Restructuring and Related Costs, Other Costs (Income), Net 160 48 465
Loss (Gain) on Divestiture of Businesses 0 0 $ (482)
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Statement of Income [Extensible List]     Restructuring and other costs (income)
Impairment of Intangible Assets (Excluding Goodwill) 122 $ 32  
Charges For Cash Compensation Due To Employees Of Acquired Businesses $ 35    
Other restructuring charges     $ 17
Restructuring Reserve, Expected Final Year of Payments 2022    
Specialty Diagnostics [Member]      
Restructuring Reserve [Roll Forward]      
Loss (Gain) on Divestiture of Businesses     (482)
Cumulative Effect, Period of Adoption, Adjustment [Member]      
Restructuring Reserve [Roll Forward]      
Beginning balance     $ (28)